UQU President Inspectes Startups Center at Wadi Makkah Technology Company
by Hadeel Attas
Dr. Abdullah bin Omar BaFail, the UQU President, inspected the Startups Center at Wadi Makkah Company for Technology in the University City in Al-Abediya to check the programs of the innovators, entrepreneurs and startup owners that are incubated by the company.
By the time he arrived at the headquarters of the company, he was received by Dr. Hani bin Osman Ghazi, UQU Vice President for Development and Entrepreneurship and Vice Chairman of the firm, and Dr. Faisal bin Ahmed Allaf, the CEO of Wadi Makkah Company for Technology. He listened to a detailed explanation about the general outline of the company from Dr. Wadee Barqawi, the CEO of Tilal Al-Namaa Real estate Investment Company. Dr. Barqawi noted that the general outline of Wadi Makkah is a reflection for the company’s vision to be an incubator and a startup launching platform. The project is located in the eastern part of the University City in Al-Abediya. He then highlighted that the project includes incubators and Accelerators, in addition to the commercial strip that is consisted of Wadi Makkah Hotel, the administrative center, global companies’ centers, and a special part for housing and social activities.
After that, the UQU President listened to the presentation given by Dr. Faisal bin Ahmed Allaf, the CEO of Wadi Makkah Company for Technology, in which he clarified that the services offered by the company are represented in the investment in technology transform and development industry, in addition to establishing tech incubators and invest in them. He pointed that since the firm was established in 2013, it has achieved: 29 technology products, 15 startups, was able to enter the job market and create a number of jobs for the national cadres. He estimated the value of the volume of the startups at Wadi by SAR 50 million. These companies’ sales reached SAR 45 million. He added that the plan of the company is to raise the startups to 45 and offer training, consulting, legal, and administrative and technology programs. In addition to offering the financial support and building the primary models inside the modularization and manufacturing lab.
Dr. Hani bin Osman Ghazi, UQU Vice President for Development and Entrepreneurship and Vice Chairman of the firm, lauded the visit of Dr. BaFail to Wadi Makkah and checking its products that were born out of the scientific research and transferred to substantive products competing in the job market and contributing to the service of the society. He added that the vision of Wadi in the upcoming period is consistent to the National Transformation Plans 2020 and Kingdom Vision 2030.
Dr. BaFail praised the support given by the wise leadership to the educational process and scientific research and its administrative environment in the university to reach the most prestigious universities in the world in various sciences. He pointed that Wadi Makkah Company is considered a leading model in attracting the entrepreneurs and innovators through the specific programs that are offered to contribute to transferring their ideas into products that serve the society and be in line with Kingdom Vision 2030 towards the transformation into the economy of knowledge.