KAEC — Prince Mohammed Bin Salman College (MBSC) of Business & Entrepreneurship, the first educational institution in Saudi Arabia dedicated to entrepreneurial development, hosted the Kingdom’s first-of-its-kind SME Forum. The event was held at King Abdullah Economic City (KAEC) with MBSC as the knowledge partner and was attended by more than 400 entrepreneurs and owners of small and medium enterprises.
The event was held as part of a strategic partnership with the General Authority for Small and Medium Enterprises (SMEA) and attracted more than 400 participants from the health, education, technology, retail, real estate, consulting, and food and beverage industries among others. Dedicated to building connections between SMEs, the event featured rotational networking, speed networking and mentor networking as well as digital networking, in which participants developed a 1-minute video pitch to promote their business.
The Forum was attended by Dr. Turki Bin Abdul Majeed Al Sulaimani, deputy governor of the SMEA, as well as by Bandar Arab, head of SMEs and the Jeddah Chamber of Commerce, and economic development consultant Walla Nahas.
“The SME Forum 2017 is part of MBSC’s and KAEC’s shared commitment to supporting and embracing small and medium-sized companies in recognition of their key role in Saudi Vision 2030,” said Fahd Al Rasheed, Vice-Chair of the Board of Trustees for MBSC, and Group CEO and Managing Director of KAEC. “SMEF 2017 redefines what forums are all about, making networking the primary goal and helping entrepreneurs and owners of SMEs get together, share experiences and build solid business relationships and partnerships.”
SMEs are a significant driver of economic growth, job creation and innovation and in many countries form more than 90 percent of all business operations.
KAEC is a key enabler for the SME sector and a major contributor to the successful outcome of Vision 2030. KAEC has registered more than 2,700 vendors to work on the development of city since 2007, the majority of whom are national companies and organizations. In 2106 alone, despite the slow economy, KAEC signed contracts worth SR1.6 billion across the city’s range of operations. 88 percent of these contracts were awarded to Saudi-based firms, most of whom are in the SME segment.
KAEC currently has more than SAR6 billion in projects under implementation, providing many opportunities for SMEs to participate in the growth of the city.
Officially inaugurated last year, MBSC is the first institution of higher education in Saudi Arabia to focus on developing entrepreneurial leadership skills for students entering government, businesses and civil society.
As part of its role in the small and medium enterprises community MBSC provides a mix of traditional MBA courses as well as training in soft and applied skills, through which the College is dedicated to creating fully rounded professionals possessing the total skillset they need to create economic and social value wherever they work. — SG
