Following SBJBC’s biannual meeting in Jeddah on 28 November, an SBJBC delegation visited the prestigious King Abdullah University of Science and Technology (KAUST) and the nearby King Abdullah Economic City (KAEC).
At KAUST the delegation was briefed by the entrepreneurship and innovation centre on their accelerator and mentorship programmes (including “Taqadam” sponsored by SBJBC member Saudi British Bank), which resulted in 48 business start-ups last year. KAUST is a fully coeducational campus with 70% foreign and 30% Saudi students and with impressive research partnerships.
At KAEC, the delegation visited the newly established Prince Mohammed bin Salman College of Business and Entrepreneurship, and received an update on the investment incentives available to companies locating to KAEC – the nearest Saudi equivalent to a free trade zone. The new free port is fully operational, and some 100 companies have invested in the industrial zone. The day ended with a visit to the brand new 18 hole Royal Greens Golf Club at KAEC and new residential developments.