Endeavor, a non-profit organization that is credited with pioneering the concept of high-impact entrepreneurship in emerging and growth markets around the world, celebrated its entrepreneurs in Saudi Arabia with the support of the Minister of Commerce and Industry Tawfiq Al-Rabiah in the presence of a large number of entrepreneurs.
Based on specific criteria, and extensive studies on their companies, Endeavor Saudi Arabia has chosen a number of entrepreneurs who were honored by the minister during the ceremony, including Abdul Mohsen Al-Rabiah, Ebrahim Al-Jassim, Loai Naseem, Naif Al-Qahtani, Ahmed Hamdan and Hassan Hamdan, Amr Al-Madani and Saeed Saeed.
Endeavor Saudi Arabia Board Chairman Rami K. Alturki, stated: “Members of Endeavor Saudi Arabia board are very excited for Endeavor’s proven model in supporting high impact entrepreneurs and creating jobs for the Saudi youth. Entrepreneurship is one of the keys to address the need for tens of thousands of new and innovative jobs in the Kingdom.”
As for some of the achievements of Endeavor since its launch globally in 1997, said Alturki, the number of entrepreneurs who were selected globally were 917 out of 37,000, where the total revenue of Endeavor entrepreneurs’ companies during 2013 was more than $6 billion, with 225,000 new jobs created.
The chairman of Endeavor Saudi Arabia stated a number of solutions provided by Endeavor to assist High Impact entrepreneurs to achieve their goals on a global level. "Endeavor helps entrepreneurs to unleash their potential in several ways, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. These customized services are specifically designed to help them grow their businesses,” he said.
During the ceremony, Dave McClure stated: “The most important thing that supports the entrepreneurs is to motivate them by removing some of the barriers that prevent them from achieving success such as lack of confidence, lack of experience and fear of failure.
Rakan Al-Eidi, MD, Endeavor Saudi Arabia, said: “Endeavor Saudi Arabia is a non-profitable organization started two years ago with aim to introduce the internationally successful model of Endeavor to support the high impact Saudi entrepreneurs, strengthen the national economy, and create hundreds of new jobs in the Kingdom.”
He also highlighted local role models in entrepreneurship to be a source of inspiration for the promising young Saudis who aspire to establish their own business.
Endeavor honors its Saudi entrepreneurs
Endeavor honors its Saudi entrepreneurs
Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador
RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.
Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.
He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.
La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh.
Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.
Launching La Fabrique as a space dedicated to artistic creativity
The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally.
He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.
Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.
Saudi Arabia benefiting from French experience in the cultural field
Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.
This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.
He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.
La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.
