JEDDAH: A national Saudi entrepreneurship competition is set to help students develop business mindsets and find innovative solutions to address the UN Sustainable Development Goals.
Collaborating with the UNDP Saudi office, the Ministry of Education and the Babson Global Center for Entrepreneurial Leadership, the Prince Mohammed Bin Salman College of Business and Entrepreneurship launched the University Innovation Challenge for students to support sustainable innovation practices and address global sustainability challenges.
Launched during the 2021 Global Entrepreneurship Week, final-year undergraduate university students across the Kingdom will develop and pitch their innovative solutions to address the UN SDGs as part of the competition. As part of the challenge, teams of three to five final-year undergraduates will develop commercial or nonprofit concepts to build a better future by advancing one or more of the SDGs.
Commenting on the event, Dr. Zeger Degraeve, executive dean of MBSC, said that the initiative supports the college’s efforts to develop Saudi students as entrepreneurial leaders and managers. “As the first business and entrepreneurship college in Saudi Arabia and a key driver of entrepreneurship education in the Kingdom, MBSC is committed to enriching the quality and competencies of our students and developing them as global citizens.
“By launching this initiative, we aim to consolidate our position as an integral part of the Saudi entrepreneurship ecosystem and a strong partner for the leading players in the sector,” he added.
The University Innovation Challenge was launched on Nov. 14.
Participating teams are required to attend a series of expert webinars from December until January of next year to learn about the UN SDGs, their economic, environmental and social pillars and the importance of innovating for humanity.
Universities taking part in the competition will organize and host a presentation day next February, where students will present their ideas before a panel of judges. The top performers will be selected for the national final round, marking the conclusion of the first stage of the competition. The last round will include a three-day boot camp at MBSC.
The winners will be announced on March 26 next year.
Prof. Haya Al-Dajani, professor of entrepreneurship and director of MBSC’s Executive MBA Signature Learning Experience, and the University Innovation Challenge leader from MBSC, said: “The university-led, student-driven challenge provides young Saudi students with a unique opportunity to develop innovative ideas to address the challenges faced by their communities.
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Participating teams are required to attend a series of expert webinars from December until January of next year to learn about the UN SDGs, their economic, environmental and social pillars and the importance of innovating for humanity.
“By launching this exciting initiative, MBSC aims to promote collaboration and fresh thinking among the student community to increase their global exposure and empower them to tackle major challenges. The challenge also strengthens the role of MBSC as a key contributor to achieving the Saudi Vision 2030 objectives of supporting entrepreneurs and SMEs.”
Dr. Motaz Al-Solaim, general manager of the Innovation and Entrepreneurship Department in the Research and Innovation Deputyship at the Saudi Ministry of Education, and the challenge leader at the education ministry, said: “We look forward to seeing Saudi students strengthen their innovative mindset and entrepreneurial drive, in line with the Vision 2030 objectives that aim to empower young Saudi nationals and provide them with opportunities to ensure their active participation in national sustainable development.
“The innovative concepts of the nation’s youth will have a profound impact on our earnest efforts to achieve the UN SDGs.”
UNDP Resident Representative for Saudi Arabia Dr. Adam Bouloukos said that the competition will inspire Saudi youth to develop their own innovative solutions to grand challenges and ensure the Kingdom’s consistent progress toward sustainability. “By facilitating the participation of the younger generation in finding answers to sustainability challenges, we are inspiring them to think about the future of their communities,” he added.
David Abdow, resident and CEO of the Babson Global Center for Entrepreneurial Leadership, said that the center is pleased to support the initiative to empower Saudi Arabia’s future generation of problem solvers and innovators by allowing them to tackle some of the fundamental challenges facing their communities. “I am confident that the young students of the Kingdom will use this opportunity to strengthen their ties and advance their entrepreneurial leadership skills,” he added.
The prizes for the final winners of the University Innovation Challenge will be announced at the end of the first stage of the competition. All students taking part will receive certificates of participation at the end of the first stage. The students completing the boot camp at MBSC will receive certificates acknowledging them as the finalists of the national contest. Universities are highly encouraged to form teams comprising students from different academic backgrounds to foster a multidisciplinary approach to developing novel solutions.
