The growing relationship between the startup ecosystems in Saudi Arabia and Jordan got a new boost earlier this week after a new MoU was signed by two of the region’s leading startup accelerators.
Badir Program for Technology Incubators and Accelerators represented the Saudi startup scene on behalf of King Abdulaziz City for Science and Technology (KACST) and inked the MoU with Jordan-based Propeller Inc.
The MoU is aimed at providing technology startups in Saudi wider access to the local market, investors, and network in Jordan and vice versa. On top of that, both Badir and Propeller plan on combining their resources to form a dedicated legal set up that will guide pre-approved startups and provide them with all necessary assistance for launching operations in both countries.
“Our partnership with Propeller Inc. is a step in line with the strategy of the Badir Program that allows us to share our respective ecosystems through joint initiatives and activities to support the growth of startups, locally and regionally,” said Nawaf Al Sahhaf, CEO of Badir, after signing the MoU.
His counterpart from Propeller, Tambi Jalouqa, chipped in: The strategic partnership with Badir Program will give Propeller-incubated startups access to Saudi Arabia’s market, network and investors, propelling their reach and growth in the wider region. Moreover, the partnership will foster collective knowledge sharing between the two kingdoms, something we care deeply about at Propeller.”
For those out of the loop, the Badir Program has been around in Saudi Arabia’s startup and entrepreneurial circles since 2007. With generous backing from the Kingdom’s government, universities, and the private sector, Badir has so far empowered hundreds of promising new technology entrepreneurs and innovators throughout the Kingdom.