The Women Committee for Social Development (WCSD) in Riyadh has announced the launch of Riyadh Enterprise Incubator (REI). According to WCSD, the basic idea of this incubator is to develop human capital and allow people in the region to set up projects that serve the region social and economically. These projects are carried out in collaboration with Riyadh Chamber of Commerce, MU and Vision Passion Company.
The idea was also welcomed by Riyadh Governor Prince Faisal bin Abdul Aziz which will develop a program for incubated projects. After evaluating these projects, entrepreneurs are guided to select the best program for their projects in addition to some other services such as being linked with a group of experts. The services also feature specialized courses and workshops along with access to laboratories that will help entrepreneurs to design their projects prototypes.
Princess Nora bin Saud, chairman of WCSD, pointed out that as the WCSD realizes the importance of harnessing the society constituents’ potential to buildup and develop the society and the necessity of empowering national competencies to participate in the development process, the REI was established to create a conducive environment for entrepreneurship in Riyadh regions.
MU vice-rector, Prof. Musallam Al-Dosari expressed his gratitude that MU will be an effective partner and support to this incubator and to host both the training program and the closing ceremony. We hope to contribute to achieving the primary goal of this partnership and that is empowering people in the region in their start-ups, add Prof. Al-Dosari.
Riyadh Chamber of Commerce stated that one of its major roles is to boost entrepreneurship in line with the directives of the Custodian of the Two Holy Mosques and His Crown Prince. With that in mind, the Chamber is supporting REI and similar initiatives that have proven their success.
Dr. Mohammed Al-Rakayan, chairman of Vision Passion Company, said that the company is delighted to be among the founders of the first enterprise incubator in Riyadh which aim to establish a system of entrepreneurship in the region. That will allow the sources of income to be diversified and the GDP to be increased.