Taibah Valley, owned by Taibah University in the Kingdom of Saudi Arabia, and one of the investment companies investing in innovation, modern technologies, building emerging companies, and venture investment, have signed a memorandum of understanding (MoU) with Flat6Labs, a leading seed and early-stage venture capital firm.
Taibah Valley will collaborate with Flat6Labs on several projects to promote and invest in entrepreneurs in the information technology sector which will contribute to promoting the initiatives of the national system in the research, innovation, and information technology sectors. In addition, they will share expertise and knowledge in order to further empower technology entrepreneurs in the KSA.
Dr Jaber Al Mutairi, Chief Executive Officer of Taibah Valley, stated that the efforts of Taibah Valley in the upcoming period will be focused on building a comprehensive system to support and empower the human capital in modern technologies. In addition, they will develop an environment that supports innovation in order to contribute in promoting the development of emerging companies and create opportunities for entrepreneurs working on the 4th Industrial Revolution (4IR) technologies in the KSA, which is considered the largest regional technology hub in the MENA region.
Eyad Albayouk, General Manager of Flat6Labs KSA, added “we’re thrilled about our partnership with Taibah Valley, which we believe is a very valuable one as it will help us in contributing to the localization of technology in a way that serves the national economy in KSA.”
The partnership between Taibah Valley and Flat6Labs is an active step forwards actualizing both organizations’ directive of supporting innovative emerging technology companies in the KSA.