President of Umm Al Qura University (UQU) Dr. Bakri Bin M'atoog Bin Bakri Assas on Wednesday Ramadan 17, 1437H handed out awards of the Innovation and Entrepreneurship Competition that was organized by the Institute of Innovation and Entrepreneurship in cooperation with Wadi Makkah.

The ceremony was attended by UQU Vice-President for Business & Innovation, who is the Deputy Chairman of the Board of Wadi Makkah, Dr. Nabil bin Abdul Qader Koshak, Wadi Makkah CEO Dr. Osama bin Rashid Al Amry and Head of Projects Department Dr. Wadih Barqawi.

During the ceremony, Dr. Barqawi reviewed stages of the competition in which up to 928 contesters have taken up the challenge by presenting 165 files in the project track and 763 files in the new ideas tracks. The primary stages included about 30 projects and 50 new ideas. Only six projects and six ideas made it to the final stages, according to Dr. Barqawi.

The competition is part of a plan to attract creative and enlightening ideas that improve the knowledge-based economy, Dr. Koshak said, adding these ideas play a key role in the trade transition by incorporating new companies. The vice-president hailed students who participated with new ideas and projects. He vowed the competition would attract more ideas and visions on the small and medium-sized enterprises that are envisaged to serve the best interest of the citizen and homeland.

In the same context, Dr. Assas delivered a speech on the occasion reiterating the importance of the competition that enriches knowledge and sharpens skills of the creative students inside the university and outside its walls.

The competition is a gate to endorse new ideas that would be changed into products by Wadi Makkah Company which serves the knowledge-based economy, he said. The president greeted the vice-presidency and Wadi Makkah on their efforts exerted in this regard.

At the end of the ceremony, names of the winners were announced. In the projects' track, the first place award - which totals up to SAR 80,000 - was given to a project named 'AlaKatk'. In the second place, a project dubbed 'A Smile of Hope' was awarded SAR 60,000 while the third award – SAR 40,000 - was given to the project "Suplift".

In the track of new ideas, the idea of "Al Mohamy" (the Attorney) won the first places' award which totals up SAR 30,000. The second award – SAR 20,000 - was given to the idea 'Nashama' while the SAR 10,000 award was given to the idea 'Farha and Tarha' which came to the third place.