Saudi entrepreneurs win trip to Berlin to pitch their ideas

Speakers and members of the jury at the Saudi-German start-up competition in Riyadh. (AN photo)
Updated 25 March 2018
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Saudi entrepreneurs win trip to Berlin to pitch their ideas

RIYADH: Entrepreneurs from two Saudi start-ups will travel to Germany in April to pitch their ideas to potential investors after they won a competition in Riyadh on Saturday.

Ten finalists competed to win the trip to Berlin. They had two minutes to present their business ideas to the German-Saudi business community and a jury of experts, followed by two minutes of follow-up questions.

The winners were Labayh, from Madinah, a project that helps people suffering from family and psychological problems with a mobile app that connects consultants and users; and Lucidya, from Jeddah, a company that aims to help businesses to make smarter decisions by using artificial intelligence and big data.

The start-up competition was organized by the German-Saudi Arabian Liaison Office for Economic Affairs and attended by Princess Joharah bint Talal bin Abdul Aziz Al-Saud as guest of honor. 

“We will bring the two winning start-ups to Berlin to showcase promising Saudi start-ups at a very interesting conference, the MENA Business Forum,” Oliver Oehms, delegate of German Industry and Commerce for Saudi Arabia, Bahrain and Yemen, told Arab News.

“Small and medium-sized companies and innovative business ideas are the key drivers of the German economy and a growing sector in Saudi Arabia.”

Dieter Haller, the German ambassador to Saudi Arabia, said: “The Saudi start-up sector is as vital and dynamic as any in Saudi society. We thought we should bring the Saudi and the German start-up scenes together, and one of the most fertile places for start-ups in Berlin.

“I am so happy that the two winning start-ups will be invited to this important conference in Berlin.”

The MENA Business Forum in Berlin is being organized by the Association of German Chambers of Commerce and Industry and the German Chambers of Commerce from the Middle East and North Africa.


Automatic defense systems ‘hugely important’ in dealing with threats

Updated 9 sec ago
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Automatic defense systems ‘hugely important’ in dealing with threats

RIYADH: Automatic defensive systems that respond to threats in real time without human intervention are “hugely important” in modern air defense, a senior executive at Lockheed Martin told Arab News at the World Defense Show in Riyadh on Thursday.

Joseph Rank, chief executive and vice president at Lockheed Martin Saudi Arabia and Africa, said the ability to connect detection systems directly to interceptors without delay is critical when responding to fast-moving threats such as missiles and drones.

“Integration is hugely important today. There’s so many threats, and the way you deal with threats in a real-time basis is by having everything integrated,” Rank said.

He described systems in which sensors identify incoming projectiles and automatically communicate with defensive assets.

“Your sensors or your radars have to see the incoming missiles or drones, but you don’t want to wait and have a human in loop … The sensors communicate automatically to the missiles that are going to knock those out of the air,” he said.

Rank said latency must be minimal to ensure an effective response.

“The latency has to be almost like nothing there, like a nanosecond, so that immediately, when you pick up that incoming missile or drone, it’s automatically communicated, no human in the loop that’s there,” he said.

He spoke about how the company uses a system called Command IQ to support this interconnectivity, linking sensors and interceptors in real time and incorporating artificial intelligence to assess response options.

The system works by “connecting everything together, sensors to shooters in real time, and it also integrates artificial intelligence. So, it gives you the best options.

“You might have three or four options to shoot or eliminate that drone. It gives you what’s the most cost-effective, what has the most probability of kill. And so, it helps you protect your citizens here, the citizens of the Kingdom.”

Beyond system integration, Rank also addressed the company’s operations in Saudi Arabia, describing a shift from supplying equipment to carrying out manufacturing and maintenance activities locally.

“We used to sell things to the Kingdom. Now we actually make things here in the Kingdom,” he said.

The company is meeting or exceeding the country’s 60 percent localization requirement and is investing in workforce development, he added.

Rank said that the company, which has operated in Saudi Arabia for 60 years, intends to continue expanding its role, including through future co-development of systems in Saudi Arabia.

“We’re going to build new things here in the Kingdom that will be for the Kingdom’s use, and we will export abroad.”

The company also announced in a statement on Thursday that it signed a memorandum of understanding with the Arabian International Co. for Steel Structures to expand localized production of components for the advanced Terminal High Altitude Area Defense weapon system.