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EMPOWERING SAUDI SMEs AND ENTREPRENEURS KAUST partners with the Jeddah Chamber of Commerce and Industry (JCCI) to establish SME Innovation Services KAUST is working to bridge the gap between research and industry by supporting small and medium-sized enterprises (SMEs) in Jeddah and across the Kingdom. Through research and innovation support, KAUST is enabling Saudi SMEs to grow and expand, and in doing so the university is helping to advance key national priorities. SMEs play an important role in Vision 2030, and Saudi Arabia has a goal to raise the contribution of SMEs to 35% of GDP by 2030. SMEs are an important source of wealth and job creation, and their expansion will help to diversify and strengthen the Kingdom’s landscape as it transitions to a new economic future. The university launched KAUST SME Innovation Services in November 2020, marking Saudi Arabia’s first university engagement program intended specifically to foster the growth of SMEs in the Kingdom. The service provides access to KAUST’s innovation ecosystem and, in doing so, helps SMEs increase their customer base and reach new markets. KAUST has been working collaboratively with a range of partners to identify the core needs of SMEs in recent years. In 2020, the university conducted a comprehensive survey of 500 SMEs throughout the Kingdom in partnership with the General Authority for Small and Medium Enterprises, commonly known as Monsha’at; the Jeddah, Riyadh and Dammam chambers of commerce; the Ministry of Investment; the Royal Commission for Jubail and Yanbu; and the Council of Saudi Chambers. The survey found that a majority of SMEs requested support for training and expertise in innovation and entrepreneurship. KAUST SME Innovation Services was launched to bridge these gaps, and deliver workshops and training programs. Through the service, SMEs
MONSHA’AT “Innovation is growing rapidly and sustainably throughout Saudi Arabia. There is a desire for SMEs to adopt innovation in their products to enhance business growth, and a desire to cooperate with a pioneering university such as KAUST.” AbdulMajeed Al-Omran, Director of the Innovation Department at the General Authority for Small and Medium Enterprises (Monsha’at)
KEVIN CULLEN Vice President for Innovation
SMES ARE THE ENGINE OF THE ECONOMY, AND CREATE CRUCIAL JOBS AND INCOME. AS A UNIVERSITY DRIVEN BY OUR ECONOMIC DEVELOPMENT MISSION, WE HAVE IDENTIFIED SME GROWTH AS A KEY AREA OF FOCUS, AND ARE KEEN TO WELCOME THESE COMPANIES INTO TO OUR WORLD-CLASS INNOVATION ECOSYSTEM.
can access state-of-the-art facilities, including KAUST’s Core Labs, as well as benefit from KAUST’s talent pool and know-how via research and scientific consultancy services. The aim is to facilitate knowledge transfer to help SMEs develop new products and services, and more easily access funding. In another sign of progress on this front, KAUST signed a memorandum of understanding with the JCCI in March 2021 to further investment and development efforts for local SMEs. KAUST will provide expertise, facility access and training to small businesses seeking support under the auspices of the program. KAUST, meanwhile, will receive a seat on JCCI’s industrial council, making it the first university to be represented in such a manner. Both parties hope the partnership will assist in accelerating Jeddah’s commercial, economic and social development.
