Shell signs MoU with Royal Commission to boost entrepreneurship in Saudi Arabia
Jul 19, 2016
Shell has signed a ground-breaking MoU with the Royal Commission in Yanbu to give young talented entrepreneurs in Saudi Arabia (KSA) a once in a lifetime opportunity to turn their business dreams into a reality.
The agreement enables Shell Intilaaqah KSA to collaborate with the Royal Commission’s Business & Technology Incubators Centre Abde’ (‘get creative’) at Yanbu to support young Saudi men and women entrepreneurs to start their own businesses. Through this initiative, Shell Intilaaqah and The Incubator Centre will create leaders who will help contribute to the Kingdom’s economy through starting their own businesses and in turn, create further opportunities for youth employment. In particular, the partnership aims to develop enterprises which fulfil the needs of Yanbu’s labour market.
His Excellency Dr. Alaa bin Abdullah Nassif, Chief Executive Officer of the Royal Commission in Yanbu, explained that the signing of the agreement comes within the framework of cooperation between the Royal Commission in Yanbu and Shell in supporting entrepreneurship and creating industry leaders who will have an effective impact on the growth of the KSA economy. He also emphasised the desire of the Royal Commission to open up new avenues for creative and technical entrepreneurs, and help them to turn their ideas into successful projects – particularly in the provision of services to help turn those ideas into successful pilot enterprises.
Patrick Van Daele, Shell’s Vice-President and Country Chairman for Saudi Arabia, said, “It is a delight to see Shell Intilaaqah grow to have reached Yanbu after all its success in other major cities in Saudi Arabia. We are honoured to work with the Royal Commission at Yanbu and continue to support the Kingdom’s goals to create jobs, promote economic development and workplace diversity.
Shell Intilaaqah will provide world class training conducted by Saudi advisers, offered free of charge, and The Incubator Centre will select the beneficiaries of the programme and will organise the venues where the workshops will take place. The Royal Commission will also support those who successfully develop businesses through the programme by linking them with potential funding opportunities.
As well as helping to spread a culture of entrepreneurship among young people in Yanbu, Shell Intilaaqah’s collaboration with the Royal Commission aims to provide enterprise training for some 200 young people, resulting in around 30 start-ups.