His Royal Highness Prince Faisal bin Salman bin Abdulaziz, Governor of Al-Madinah Al-Munawwarah Region, sponsored the ceremony honoring the winners of the competition for building innovative startups in its fourth edition, “Tayba Innovates”, which was organized by Taibah University.
During his sponsorship of the ceremony, His Highness announced the doubling of the amount of competition prizes from 300 thousand riyals to 600 thousand riyals, distributed among five winning projects, where he won the first place SWC with an amount of 200 thousand riyals, the second place Smartie with an amount of 160 thousand riyals, and the third place Trentel with an amount of 100 thousand riyals, fourth place ecoloy with an amount of 80 thousand riyals, and fifth place Dr.Friend with an amount of 60 thousand riyals.
His Highness, the Emir of Al-Madinah Al-Munawwarah region, viewed the exhibition accompanying the closing ceremony of the competition, where the contestants who qualified for the closing stage reviewed their pioneering projects and what they aspire for in the future. After that, His Highness watched a documentary film for the competition in its previous years, entitled “Agate of Knowledge”, which tells about the innovations of Al-Madinah Al-Munawwarah, the home of innovations on Over time, in addition to the objectives of the competition and what it offers of developing the capabilities of young people to manufacture innovative services and products and transform them into leading companies to provide jobs and promote economic sustainability that target male and female students of the Kingdom’s universities, colleges and graduates.
During the ceremony, His Highness also inaugurated the initiative of the Ministry of Communications with Wadi Taibah Company, which aims to localize technology and employ it to achieve sustainable economic development in the regions of the Kingdom by stimulating technology companies to expand their business in various regions, in line with the main pillars of the Kingdom’s ambitious 2030 vision and the digital economy policy. Based on the objectives of the communications and information technology sector strategy 2023 AD.
His Excellency the President of the University, Dr. Abdulaziz Al-Sarani, explained that the number of participants in the competition reached (521) participants, while the number of projects reached (188), which went through a number of stages, starting from the idea-making stage for the project and ending with the final presentation stage, indicating that the participants obtained advantages that included Guidance sessions with leaders and CEOs of the largest specialized companies in the Kingdom, in addition to training in leading international companies in various fields, identifying investment opportunities available in the market, and providing laboratory infrastructure and engineering for product development using modern technologies.
Dr. Al-Sarrani added that the Kingdom today has a promising investment, economic, and ambitious vision that made it a pioneer in all regional and global levels, thanks to God and his success, then with generous and generous sponsorship, and with continuous and continuous support from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and his trustworthy Crown Prince – may God protect them. Allah -.
For his part, Dr. Jaber Al-Mutairi, CEO of Wadi Taibah, stated that the competition was based on several areas, including: health applications, smart city applications, e-commerce, and e-learning, through the adoption of modern technologies such as the Internet of Things and artificial intelligence, where the contestants were sorted through Arbitration committees at each stage, where the number of projects qualified for the final stage reached 16 startups that met the special requirements and the contestants received the necessary support.
He pointed out that the Wadi Taibah team is working with the University Vice Presidency for Business and Knowledge Creativity with unremitting efforts to accelerate the growth of startups in the region, by providing an attractive environment and distinguished partnerships with the public and private sectors. To manufacture innovation-based startups that create quality jobs and contribute to the economic sustainability of the Medina region.
At the end of the ceremony, His Highness, the Emir of Al-Madinah Al-Munawwarah Region, inaugurated the competition for building start-ups and innovative companies in its fifth season, “Taybah Innovates 5.” His Highness also honored the sponsors of the competition in its fourth season and the members of the jury.