King Abdulaziz City for Science and Technology (KACST), represented by Badir Program for Technology Incubators and Accelerators, and Propeller Inc., a Jordan-based startup accelerator focused on technology, product and design, signed a Memorandum of Understanding (MoU) to boost startup collaboration between the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan.
The MoU was signed by Nawaf Al Sahhaf, CEO of the Badir Program for Technology Incubators and Accelerators and Tambi Jalouqa CEO of Propeller Inc. The partnership will allow Badir Program and Propeller to provide access to the local market, network and investors to technology startups in their respective countries.
Additionally, the two entities will support the tech startups within the context of this cooperation through a legal set up for operation in the local market, advising and coaching startups in technology development as well as support services to approved startups.
Commenting on the agreement, Nawaf Al Sahhaf said: “Our partnership with Propeller Inc. is a step in line with the strategy of the Badir Program that allows us to share our respective ecosystems through joint initiatives and activities to support the growth of startups, locally and regionally.”
Tambi Jalouqa commented: “The strategic partnership with Badir Program will give Propeller-incubated startups access to Saudi Arabia’s market, network and investors, propelling their reach and growth in the wider region. Moreover, the partnership will foster collective knowledge sharing between the two kingdoms, something we care deeply about at Propeller”
Badir Program established in 2007 to improve and support technical entrepreneurship throughout the Kingdom of Saudi Arabia by helping the strategic policy applied in entrepreneurship and incubators in collaboration with government agencies, universities and the private sector.
The Badir Program is steadily moving to achieve its objective of creating 600 startups and 3,600 jobs by 2020 by focusing on expanding its innovation and entrepreneurial hubs across the Kingdom.