Cubical Services, a Kuwait-based business incubator, and King Abdulaziz City for Science and Technology (KACST), have signed a Memorandum of Understanding (MoU) to boost start-up collaboration between the Kingdom of Saudi Arabia and Kuwait.
The MoU was signed by Abdulrahman J. Al-Fawaz, CEO of Cubical Services, and Mohammed Alhouzimi, Shared Services Department Director of the Badir Program for Technology Incubators and Accelerators which was representing King Abdulaziz City for Science and Technology (KACST).
The partnership will allow them to provide access to the local market, network and potential investors in their respective countries.
Additionally, Badir and Cubical Services will collaborate on several issues to support start-ups, to generate employment opportunities and boost the national economies of both the GCC countries.
Mohammed Alhouzimi said: “Our partnership with Cubical Services aligns with the Badir Program strategy, which aims to create a thriving ecosystem for start-ups through joint initiatives and activities, as we strive to promote entrepreneurship in line with the Vision 2030 program.”
Al-Fawaz said: “This strategic partnership with the Badir Program will provide Kuwaiti entrepreneurs and start-ups access and growth opportunities in Saudi Arabia, which is the biggest market in the region.”
The Badir Program was established in 2007 to improve and support technical entrepreneurship throughout the Kingdom of Saudi Arabia.