Oracle and Bab Rizq Jameel collaborate to launch startup competition
Aimed at promoting technology entrepreneurship, the competition offers startups in Saudi Arabia an opportunity at receiving training and mentoring.
Oracle Saudi Arabia has announced the signing of a memorandum of understanding (MoU) with Bab Rizq Jameel, part of Community Jameel to support 2nd Massachusetts Institute of Technology (MIT) Enterprise Forum.
As per the agreement, the two organisations will collaborate on forming a startup competition in Saudi Arabia, which will aid in the development of a competitive digital ecosystem within the GCC nation.
Thamer Alharbi, Country Managing Director - Oracle Saudi Arabia, said: "SMEs account for nearly 60% of total employment in Saudi Arabia so entrepreneurs have an important role in realising Vision 2030's strategic economic objectives."
He added: "Cloud computing gives SMEs a phenomenal opportunity to take advantage of sophisticated enterprise technology at low cost with relative ease."
As part of the agreement, Oracle will host a series of technology sessions, participate as a guest speaker at the forum, as well as mentor contestants.
Hashem Daghestani, GM Business Development and Entrepreneurship programs, said: "With MIT EF Saudi, our objective is to create an interactive platform to connect high potential entrepreneurs with incubation and funding programs, besides also providing mentorship and training opportunities to support their growth.
"Partnering with Oracle and other entrepreneurial minded organizations will enable local entrepreneurs to learn and benefit from their experiences and valuable services"
Founded in 2015, the MIT Enterprise Forum (MITEF) aims to further expand Saudi Arabia's entrepreneurship ecosystem.