The Suliman S. Olayan Foundation and KAUST broke ground for The Suliman S. Olayan Institute for Innovation and Entrepreneurship in Thuwal, Saudi Arabia. The institute will foster collaboration between science, technology, industry, business and entrepreneurship, focusing on sustainable solutions for water, food, and energy. It will consist of startup scaling, teaching & learning, and public spaces. Why it matters: The institute will help incubate Saudi-bred intellectual property and drive innovation in key sectors, contributing to the Kingdom's economic diversification goals.
KAUST has launched a master’s degree program in Technology Innovation and Entrepreneurship (TIE), a 16-month program designed to transform research innovation into commercially viable products and services. The program includes training in AI/ML, robotics, design thinking, and entrepreneurship, plus a six-month stay in Shenzhen, China. The inaugural TIE cohort will consist of 30 students, including 18 Saudi nationals, and will study at the Suliman Olayan Institute for Innovation and Entrepreneurship. Why it matters: The program aims to bridge the gap between academia and industry and drive Saudi Arabia's economic diversification and innovation agenda in line with Vision 2030.
Lubna Olayan, CEO of Olayan Financing Company, gave a keynote at KAUST's 2015 Winter Enrichment Program discussing how businesses and academic institutions can promote excellence. She emphasized that centers of excellence are catalysts for innovation and job creation, sharing characteristics like a multidisciplinary approach and meritocracies. Olayan highlighted Saudi Aramco and KAUST as examples, noting the successes of Stanford and MIT. Why it matters: This underscores the strategic importance of fostering centers of excellence like KAUST for driving economic growth and innovation in Saudi Arabia.
KAUST and the Saudi British Bank (SABB) are partnering in the TAQADAM Startup Accelerator program, supporting 82 entrepreneurs from 37 teams across 18 Saudi universities. The program offers up to SR75,000 ($20,000) in pre-seed funding from SABB, working spaces at KAUST, and mentorship over six months. The accelerator has awarded SR4.5 million ($1.2 million) in pre-seed funding to date and aims to contribute to economic development and job creation in line with Saudi Vision 2030. Why it matters: This collaboration fosters innovation and entrepreneurship in Saudi Arabia, providing crucial resources for startups in key technology sectors like AI and fintech.
KAUST has launched its first Massive Open Online Course (MOOC) titled "Entrepreneurship Adventures" on edX, starting July 4, 2021. The gamified masterclass is the first entrepreneurship course in Arabic on the edX platform. It features industry experts like Amin Al-Nasser (Saudi Aramco) and Lubna Olayan (Saudi British Bank). Why it matters: The course aligns with Saudi Vision 2030, addressing the increasing demand for entrepreneurship education and supporting the Kingdom's startup ecosystem.