Plans have been revealed to set up the Prince Mohammad bin Salman College of Business and Entrepreneurship in Saudi Arabia’s King Abdullah Economic City (KAEC).
The college is part of the Gulf kingdom’s 2030 Vision, which aims to bridge the gap between the outcomes of higher education and the requirements of the job market, while unleashing the creativity of the young so they can develop their own ideas and ventures.
Saudi Arabia has signed a cooperation deal with Babson College and Lockheed Martin to start the college, a statement said.
The college deal was signed in Washington, DC by Badr Al-Asaker, secretary general of the Mohammad bin Salman Foundation (MISK), Fahd Al-Rasheed, Group CEO and managing director of KAEC and vice president of the Board of Trustees of the College, and Dr Kerry Healey, president of Babson College.
Prince Mohammad bin Salman College of Business and Entrepreneurship is the first to offer BA and postgraduate degrees in entrepreneurship in the Kingdom.
Babson College, the US entrepreneurship college, and Lockheed Martin, a business conglomerate, will present their vast expertise in higher education through an innovative applied education system.
This college is the first outcome of the partnership between MISK and KAEC, and is in line with Crown Prince Mohammad’s vision for the development of education and knowledge for the young of Saudi Arabia, the statement added.
Al-Rasheed said: “We are proud to have launched this leading educational institution which will play a key role in supporting and developing business sectors that encourage initiatives in education and other sectors that help young Saudis.
“The partnership between MISK and KAEC is an important contributor to the development of the business sector, thanks to its role in supporting and recruiting major institutions that help young Saudis hone their professional skills.”
The college will include the kingdom’s first entrepreneurial research and development centre, which will conduct administrative and strategic studies on business development, allowing students to interact with and contribute their ideas to both the public and private sectors.
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