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Eye of Riyadh
Business & Money | Monday 20 November, 2023 3:20 pm |
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Cultivating Collaboration: Mohammed Bin Salman Misk Foundation and eWTP Arabia Capital Join Forces for Saudi Youth

Mohammed Bin Salman Foundation, also known as Misk Foundation, and growth-stage venture capital fund eWTP Arabia Capital announced a strategic partnership agreement aimed at fostering collaboration and mutual benefit. This partnership agreement heralds a commitment to further growth and innovation in the region, with a focus on youth's growth opportunities, accelerator support, and a ‘Founders Connect’ initiative.

Through the Founder Connect initiative, Unicorn-level Saudi startups will be given access to China’s robust entrepreneur ecosystem through eWTP Arabia Capital, enhancing networking and knowledge-sharing opportunities for the beneficiaries of the program. Misk Foundation will also be matched with a list of Chinese accelerator service providers that will enable in bolstering of entrepreneurship and innovation initiatives in KSA. This collaboration is in line with Misk Foundation's overarching goals to cultivate and encourage learning, leadership, and entrepreneurship among Saudi youth.

eWTP Arabia Capital and its affiliates will also provide 100 internship opportunities for Misk Foundation's beneficiaries, opening the doors for learning experiences within the Middle East region and beyond, thus contributing to the development of scientific and technological talent among Saudi youth.

Furthermore, this collaboration underscores the shared commitment of Misk Foundation and eWTP Arabia Capital to empower Saudi youth with the skills and knowledge needed to thrive in the digital age. Misk Foundation's dedication to education and entrepreneurship, with a supporting focus on science and technology, aligns seamlessly with eWTP Arabia Capital's ability to provide access to mature technology markets like China. Through this partnership, the organizations aim to bridge the gap between local talent and global opportunities, nurturing the scientific and technological potential of Saudi youth.

Jessica Wong, managing partner of eWTP Arabia Capital and Secretary General of the Saudi Arabia-China Entrepreneurs Association, stated, "Over the next five years, we are looking forward to invest $100 million with Misk in digital technology, new energy, and advanced manufacturing to support Saudi Arabia's technology advancement and nurture more tech talents.The Saudi Arabia-China Entrepreneurs Association will facilitate exchanges between member companies, over ten Chinese higher education institutions, and Misk for mutual growth."

 

She also added “This agreement underscores our belief in the incredible potential of Saudi Arabian talent and the importance of investment in their future. Through this partnership, we aim to open doors to new opportunities, facilitate global connections, and inspire the next generation of Saudi entrepreneurs. Together, we will build a bridge to global success for Saudi youth."

Misk Foundation, a non-profit organization devoted to cultivating and encouraging learning and leadership in Saudi Arabian youth, is dedicated to two main tracks: education and entrepreneurship, and culture and the creative arts. eWTP Arabia Capital is a vital player in the global investment landscape, partnering with entrepreneurs to create leading businesses and providing access to resources in both mature technology markets, such as China, and emerging markets, including MENA.

This groundbreaking partnership between Misk Foundation and eWTP Arabia Capital underscores their dedication to investing in the future of Saudi Arabia by bringing together local and international expertise. It not only strengthens Saudi Arabia's position in the global business landscape but also showcases the country's commitment to creating opportunities for its youth that will drive economic growth, knowledge exchange, and cultural enrichment.

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