Mobily, Saudi Credit & Savings Bank, and Firnas announce partnership to support Saudi innovation

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In an effort to inspire the youth of Saudi Arabia to think creatively and launch their own projects, Firnas launched several months ago to provide readers with content about entrepreneurship, new projects, success stories, and other inventions related to the local, regional and global IT sector.

Aside from providing content, the platform is also keen on helping innovators turn their ideas into reality. Last week, Firnas launched its challenge section, in which participants can submit their idea, and vote on those of their peers. The first of this new project is the Hajj challenge, which asks participants to submit ideas that could enrich the Hajj experience. To submit an idea to the challenge, which lasts 26 days, users need to submit the following information:

  • Idea title
  • Description
  • Target audience
  • Added value
  • Revenue model
  • How will it reach the audience (through a website, an offline store, etc.)
  • Technology used

When the competition closes, the person whose idea received the most votes will receive 10,000 Saudi riyals ($2,666 USD); the second and third place ideas will be awarded 5,000 riyals ($1,333 USD), and 2,500 riyals ($666 USD). The entrepreneurs will also benefit from mentorship and tips from relevant experts. For more information about the challenge and how it works, check out this video.

Coinciding with the launch of the challenge, a new strategic partnership between Saudi telecommunications company Mobily, Saudi Credit and Savings Bank, and Firnas was announced last week. The partnership seeks to encourage young Saudis to launch their projects, as well as provide financial support, and contribute to the country’s development.

The three parties announced the partnership at the Bank’s headquarters in Riyadh, where Firnas members introduced the mission of the platform and the role of the media site and the challenge section.*

Dr. Ibrahim Bin Abdulaziz Al Huneishal, the General Manager of Saudi Credit and Savings Bank, talked about Firnas’s social and economic role, stating that the one of the bank’s main objectives is to support entrepreneurial projects and welcome all types of collaboration. Engineer Khalid Bin Omar Al-Kaf, Mobily’s CEO, also revealed that Riyadh is the city with the fifth-largest production volume of Android apps in the world. “This gives you an idea of what our youth is capable of,” he continued.

Watch this video to get more information about the event.

* Wamda is a content partner with Firnas and helps the platform create content about entrepreneurship for the Arab region and Saudi Arabia in specific.

 

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