A new strategic partnership between Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST), represented by Badir Program for Technology Incubators and Accelerators, and Kuwait-based incubator Cubical Services, has paved the way for closer ties between the startup ecosystems in both countries.
The two entities got together late last week for the signing of the agreement. The meeting was attended by Abdulrahman J. Al-Fawaz, CEO of Cubical Services, and Mohammed Alhouzimi, shared services department director of the Badir Program for Technology Incubators and Accelerators.
Per the deal, both entities will now be offering a greater level of access to the local market, network and potential investors in their respective countries. In addition, the partnership also leaves abundant room for the Badir and Cubical to cooperate on several fronts to support startups and contribute to the economy by creating quality employment opportunities.
“Our partnership with Cubical Services aligns with the Badir Program strategy, which aims to create a thriving ecosystem for startups through joint initiatives and activities, as we strive to promote entrepreneurship in line with the Vision 2030 program,” Mohammed Alhouzimi noted after inking the deal.
Al-Fawaz chipped in by saying, “This strategic partnership with the Badir Program will provide Kuwaiti entrepreneurs and startups access and growth opportunity in Saudi Arabia, which is the biggest market in the region.”
Worth noting here is that the Badir program is on the verge of fulfilling its commitment of helping create 600 new Saudi startups and 3,600 jobs by 2020.