JEDDAH – The Prince Mohammad bin Salman College of Business and Entrepreneurship to be established at King Abdullah Economic City (KAEC) will play a great role in pushing the Kingdom’s economy forward. The college is the first outcome of the fruitful partnership between MISK Foundation and KAEC, and sits in line with Deputy Crown Prince Mohammad’s vision for the development of education and knowledge for the young of Saudi Arabia. The college also is in line with the Kingdom’s 2030 Vision, especially concerning qualitative education, which will help bolster the economy, bridge the gap between the outcomes of higher education and the requirements of the job market, support small and medium businesses as major enablers of economic growth, job creation and innovation, and unleash the creativity of the young so they can develop their own ideas and ventures.
The deal was signed in Washington, D.C. by Badr Al-Asaker, Secretary General of the Mohammad bin Salman Foundation (MISK); Fahd Al-Rasheed, Group CEO and Managing Director of KAEC and Vice President of the Board of Trustees of the College; and Dr. Kerry Healey, President of Babson College.
Al-Rasheed said the college “will play a key role in supporting and developing business sectors that encourage initiatives in education and other sectors that help young Saudis. The partnership between MISK and KAEC is an important contributor to the development of the business sector, thanks to its role in supporting and recruiting major institutions that help young Saudis hone their professional skills.”
Prince Mohammad bin Salman College of Business and Entrepreneurship is the first to offer BA and postgraduate degrees in entrepreneurship in the Kingdom. Babson College, the leading entrepreneurship college in the US, and Lockheed Martin, a leading business conglomerate, will present their vast expertise in higher education through an innovative applied education system.
“We are committed to supporting economic development in the Kingdom through an innovative program that guarantees sustainable revenues,” said Alan Shenouda, executive manager of Lockheed Martin Saudi Arabia. “We are proud to be partners in implementing this incredible initiative.”
Dr. Healey added: “Our decision to work with MISK and KAEC on this great educational institution comes out of our desire to expand and offer a true model of entrepreneurship,” said Dr. Healey. “We felt that MISK’s vision and attention to education is in line with our own, and so is that of the economic city, which enjoys great vision, strategic location, a world-class infrastructure, and the ingredients of rapid growth – all of which made it the ideal place for us to realize our educational vision.” — SG
