ABSTRACT
This chapter takes an in-depth look at Saudi entrepreneurship, which revolves around two phases: the first phase illustrates the efforts made by Saudi Arabia to support entrepreneurship, including various foundations such as the MiSK Global Forum and Grand Challenges as recent platforms for youth to explore entrepreneurial ideas and convert them into concrete plans. The second phase concentrates on analyzing various entrepreneurial success stories and their impact on society. This chapter shows the enormous opportunity that exists for university students to embark upon new ideas and platforms. The focal point in this chapter is that no matter how entrepreneurship is defined, it is an asset which leads to employment opportunities and maximizes economic transformation. Saudi Arabia has embarked upon the arduous journey of transition from a conventional and oil-based economy to a knowledge-based economy. This implies improving the national innovation capacity and developing an ecosystem for techno-entrepreneurs. In this regard, the Badir Program for Technology Incubators has been established by King Abdul Aziz for science and technology nationwide. Badir intends to give increased confidence to non-oil foundation business economic development and aspires to promote friendly expansion and innovation of grass-roots-level start-ups. Badir further intends to assist Saudi entrepreneurs to develop into incubator members and help them utilize their expertise for industrialization and commercialization. Other foundations, recognition platforms and incubators have been highlighted in this chapter, and they will prove fruitful for today’s youth as well as for others who are on an arduous entrepreneurial journey. The purpose of this chapter is to bring into the limelight Saudi entrepreneurship case studies and to present a thorough analysis related to the relationship between entrepreneurship and economic transformation as a whole. This chapter will truly help entrepreneurs all over the world explore massive platforms for their ventures and funding at the same time. Furthermore, the economy all over the world will flourish, as knowledge is currency for a country, and a transition towards a knowledge-based economy is currently a global need.
