Umm Al-Qura University Vice-President for Business & Innovation - who is the Deputy Chairman of the Board of Wadi Makkah - Dr. Nabil bin Abdul Qader Koshak has signed a memorandum of understanding with the Makkah Business Youth Committee which was represented by President of Safqah Makkah Eng. Ma'n bin Hashim Hariri.

The ceremony was attended by Advisor to the Custodian of the Two Holy Mosques Prince Dr. Abdulaziz bin Sattam bin Abdulaziz, Minister of Hajj Dr. Mohammed Saleh Bentin, Advisor to Governor of Makkah Dr. Hisham Al Falih and Chairman of Makkah Chamber of Commerce and Industry Maher bin Saleh Jamal. Makkah Business Youth Committee organized the event which would runs from Ramadan 14 to 17, 1437H in Al-Takhasosi Complex, Makkah.

Dr. Abdul Qader Koshak said the agreement gives an opportunity for attracting creative persons and business entrepreneurs to change their ideas into market products. He said they would receive enough support to enhance the knowledge economy.

According to Dr. Koshak, Wadi Makkah endeavors to achieve these targets in light of the Saudi Vision 2030 and in accordance with the National Transformation Program 2020. He saluted President of Umm Al Qura University Dr. Bakri Bin M'atoog Bin Bakri Assas for his continuous support to the inventors and creative persons under the umbrella of Wadi Makkah.

In the same context, Wadi Makkah's CEO Dr. Osama bin Rashid Al Amry said the memorandum of understanding is meant to pave the way for cooperation and maintaining integration that guarantees improvement of the knowledge economy and practical environment.

Under the agreement, entrepreneurs and founders of emerging companies are invited to take part in the commercial transformation of Wadi Makkah's products, Al Amry said, adding they would receive support from Makkah Business Youth Committee. Training and consultancy services would be provided in addition to the necessary technical support, he said.