In a pioneering effort to strengthen the start-up landscape in Saudi Arabia, MSA Novo has entered into a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST). This strategic partnership is a testament to MSA Novo’s dedication to fostering innovation and entrepreneurship within the Kingdom.
The collaboration aims to leverage MSA Novo’s global network and KAUST’s research capabilities to accelerate innovation in Saudi Arabia. As articulated by Ben Harburg, Managing Partner at MSA Novo, the partnership with KAUST reaffirms their commitment to bringing cutting-edge global technologies to the region and building world-class innovations domestically.
The impact of this collaboration is expected to be significant, particularly in the realm of local start-ups. MSA Novo plans to focus on joint investment initiatives and the development of new start-up accelerator programmes to support the growth of emerging companies and drive technological advancements in alignment with Saudi Arabia’s Vision 2030.
KAUST, renowned for its transformative role in fostering a culture of entrepreneurship and innovation in the Kingdom, has also expressed its enthusiasm for the partnership. According to Ian Campbell, Vice President of the National Transformation Initiative at KAUST, the collaboration with MSA Novo will contribute to building a vibrant start-up ecosystem and driving economic transformation in Saudi Arabia.
The MoU between MSA Novo and KAUST outlines several key areas of collaboration, including joint investment and accelerator initiatives, access to research and mentorship, entrepreneurship education and talent development, technology transfer and industry-specific hubs, as well as joint events and corporate partnerships. These areas of collaboration are set to create a conducive environment for mutual growth and innovation, presenting exciting opportunities for all involved.
MSA Novo, a multi-stage global venture capital firm focused on emerging markets, has been a catalyst in bridging strategic initiatives between different regions, with a portfolio that spans across various countries. The firm’s commitment to enabling their portfolio companies to scale and become regional leaders is underscored by their extensive experience and institutional support.
On the other hand, KAUST, as Saudi Arabia’s leading science and technology research university, is dedicated to creating a new model of university for the 21st century. With a focus on global partnerships, research, and invention, KAUST has been actively driving impact and innovation in alignment with Vision 2030 and the Research, Development, and Innovation Ecosystem (RDI).
This collaboration between MSA Novo and KAUST is poised to drive significant economic growth and technological advancement in the Kingdom, marking a pivotal moment in the evolution of the Saudi start-up ecosystem.
For further information, please contact:
Sara Asad
Email: [email protected]
Sylvie Kastoun
Email: [email protected]
About KAUST
King Abdullah University of Science and Technology (KAUST) is dedicated to uniting the best minds in a culture of invention, serving as a catalyst for discoveries, innovations, and technologies that will shape the future for the benefit of Saudi Arabia and the world. With a focus on global partnerships, research, and invention, KAUST is on a mission to create a new model of university for the 21st century.
For additional information, visit www.kaust.edu.sa.