The President of UQU and Chairperson of Wadi Makkah Technology Company, Dr. Bakri bin Maatouq Assass, has signed an agreement for the implementation of two business incubator preparation programs at Wadi Makkah for Entrepreneurs with the CEO of  the company, Dr. Faisal bin Ahmed Alaf, in the presence of the UQU Vice President for Development and Entrepreneurship and Vice Chairperson of the Board of Directors of Wadi Makkah, Dr. Hani bin Othman Ghazi, in addition to the Dean of the Institute for Research and Consultancy Studies Dr. Ali Bin Mohammed Al Shaeri; the Dean of the Institute of Innovation and Entrepreneurship, Dr. Mowaffaq Arija, as well as the Dean of the College of Medicine, Dr. Abdulsalam Noor Waly. The agreement was signed at the office of Dr. Assass at the University Campus in Al-Abideyah.

Dr. Assass praised the support given by the wise leadership to the University and its academic programs. He pointed out that this agreement is part of the University's efforts to accelerate the transformation of the cognitive economy of entrepreneurs and inventors in a way that suits the Kingdom’s 2030 Vision, pointing out that those programs will contribute to the refinement of the talents of inventors and innovators, and will turn them into start-ups with products that can compete in the labor market.

He emphasized that this agreement will include a series of workshops for start-up companies with the aim of developing their financial systems and building an identity and brand for them. These workshops also target business development, human resources management, and providing training and consulting services whether legal, administrative, or technical, in addition to financial support. Dr. Assass also praised the efforts of UQU’s Vice President for Development and Entrepreneurship, Dr. Hani Othman Ghazi, and the effort of everybody working on the implementation of this program.

For his part, Dr. Ghazi explained that the business incubator preparation program includes providing an online platform for applications and preparing committees for the candidacy of participants. The program also includes carrying out personal interviews, correspondences with applicants, delivering training courses about turning ideas into models ready for development, building prototypes, and holding intensified workshops and discussions, all of which qualifies candidates for the business incubator program to be in line with the Kingdom’s 2030 Vision.

Dr. Ghazi added that this platform prepares the candidates to enter the program, as training sessions on how to transform ideas and prototypes into products will be conducted in order to enable participants to enter markets and venture capital funds to acquire investments that ensure the growth of their projects, and transform them into small, medium and large enterprises that effectively contribute to the development process. He praised the support and directives of Dr. Assass for the development projects of the programs provided by UQU. He also praised the efforts of Dr. Faisal bin Ahmed Alaf and all the workers at Wadi Makkah for Technology, as well as everyone from the university who contributed to implementing of the programs.