Latest news with #EntrepreneurshipWorldCup
Asharq Al-Awsat
5 days ago
- Business
- Asharq Al-Awsat
Monsha'at Showcases Saudi Arabia's Entrepreneurship Journey at Expo 2025 Osaka
Saudi Arabia underscored its growing international presence as a hub for entrepreneurship through an interactive workshop held at its pavilion during Expo 2025 Osaka in Japan. The event aimed to highlight the Kingdom's experience in supporting small and medium-sized enterprises (SMEs) and to foster opportunities for international collaboration in this vital sector. The workshop, organized by the General Authority for Small and Medium Enterprises (Monsha'at), brought together around 30 participants from various countries. Monsha'at presented its integrated ecosystem designed to empower the Kingdom's entrepreneurial landscape by simplifying business processes, boosting access to financing, promoting a culture of entrepreneurship, and encouraging innovation and the adoption of modern technologies. Key initiatives were showcased, including the Biban Forum, an international platform that connects entrepreneurs with investors, highlights Saudi success stories, and offers opportunities for professional development. This initiative plays a significant role in positioning Saudi Arabia as a global hub for entrepreneurship. Monsha'at also shared the Kingdom's experience hosting the Entrepreneurship World Cup, one of the largest global competitions in its field. The event has attracted more than 420,000 participants from 191 countries, with 500 startups advancing to the final stage. Over $5 million in cash prizes have been awarded, in addition to tailored training and development programs. The workshop is part of Monsha'at's broader participation in Expo 2025 Osaka, with the goal of promoting the Kingdom's entrepreneurial ecosystem, showcasing its strategic initiatives, and expanding international cooperation, all aligned with the objectives of Vision 2030. The Saudi Pavilion at Expo Osaka offers a multi-sensory experience centered on the Kingdom's transformative journey under Vision 2030. It highlights Saudi Arabia's commitment to enhancing quality of life through innovation and technological progress. The pavilion also features immersive experiences that reflect the richness of Saudi cities, villages, and cultural heritage. Constructed using lightweight Saudi stone, the structure was designed by renowned architects from Foster + Partners to represent the Kingdom's vision of building sustainable, empowered communities.
Arab News
14-04-2025
- Business
- Arab News
Saudi Venture Capital CEO highlights Kingdom's investments to boost innovation
RIYADH: A Saudi government backed venture capital firm has invested in over 50 funds in various sectors and stages, according to its CEO, underscoring the Kingdom's strong commitment to fostering innovation. On the second day of the Human Capabilities Initiative in Riyadh, Saudi Venture Capital's Nabeel Koshak emphasized the growing prominence of national startups. During a panel discussion titled 'Powering Venture Capital Investments to Turbo Boost Innovation in HCD,' Koshhak, said: 'Since inception, we invested in more than 56 funds, we are across multiple sectors, multiple stages.' He added: 'It's good to shed the light on the amazing entrepreneurs and startups being launched here in Saudi Arabia and now going global. And also the companies that are starting globally, originally, and also expanding in Saudi Arabia.' The CEO specifically commended Classera, a Saudi-born education tech company now operating in over 40 countries, calling it a 'learning super-platform' with 50 million global users. Also appearing on the panel, Dong-Su Kim, CEO of LG Technology Ventures in the US, shared insights into corporate venture strategies, saying: 'We invest in promising startups and then we help them get connected with the right people. In many cases, we advise our portfolio companies on how to work with a big company.' Kim also highlighted entrepreneurship as a critical tool for personal growth, adding: 'I think, for a young person to increase your capability, there's no better tool than starting your own companies.' Jonathan Ortmans, president of the Global Entrepreneurship Network, pointed to the evolving mindset of young entrepreneurs. 'What we're seeing now is startups coming from a younger generation who care about more than the return on investment,' he said. Ortmans also noted the massive reach of entrepreneurial initiatives, mentioning that his organization's Entrepreneurship World Cup attracted over 100,000 startups globally. Discussing the impact of artificial intelligence, Ortmans cautioned that while generative AI relies on past data, entrepreneurship thrives in uncertainty. 'One of the things I'm learning is that, clearly, there are some areas where AI will not be useful in the immediate future. One of those is in terms of entrepreneurs— they'll have to learn to operate in unpredictable, uncertain environments,' he said. He expressed optimism about the future of venture capital, stating: 'I think the venture community should be extremely excited because you're going to see some super innovative new ideas coming from a new generation of thinkers.' Ortmans also underscored the vital role of entrepreneurs in job creation, declaring: 'Entrepreneurs create almost all the net new jobs around the world.' The panel highlighted the dynamic interplay between venture capital, innovation, and human capability development, with the Kingdom emerging as a key player in the global startup ecosystem.
Yahoo
06-03-2025
- Business
- Yahoo
Robot-on-Chip: Salutes Space is Redefining the Internet from a Space-Tech Lens
SALUTS Wins "Economics of The Future" Prize at the Entrepreneurship World Cup Pioneering a Smarter, More Sustainable Future with AI Solutions MUNICH, GERMANY / / March 6, 2025 / In a recent interview with ZEX PR WIRE, Salutes Space (SALUTS) shared insights into its groundbreaking vision for the future. We are now pleased to report that the company has been awarded the prestigious "Economics of The Future"prize at the Entrepreneurship World Cup (EWC) Global Finals 2024, recognizing its innovative contributions to the industry. Competing against 100 of the world's most promising startups from 52 countries, SALUTS stood out for its Robot-on-Chip technology, which is set to redefine AI-driven autonomy in space, defense, IoT, and critical infrastructure. A massive thank you to our partners, investors, and the entire community who have supported us on this journey. Together, we are shaping the future of AI-making it not only smarter but also more sustainable. 🔗 Read the official Entrepreneurship World Cup announcement: Global Entrepreneurship Network SALUTS: A New Identity for a Bold Vision As part of its global expansion, Salutes Space has officially rebranded as SALUTS - marking a new era of AI-driven autonomy in space and beyond. The transition to SALUTS ( reflects the company's broader mission to integrate AI into industries ranging from space and defense to IoT and critical infrastructure. SALUTS' Robot-on-Chip technology is already making an impact in the fast-growing autonomous space systems market, projected to reach $2.5 trillion by 2040. By enabling real-time, in-orbit data processing, Robot-on-Chip is redefining the future of AI-powered decision-making - reducing reliance on Earth-based processing, lowering costs, and increasing mission autonomy. "No matter how hard it becomes, keep moving onwards and upwards." - M. Sobhy Fouda, CEO of SALUTS EWC 2024: A Global Stage for Game-Changing Innovation The Entrepreneurship World Cup, co-hosted by the Global Entrepreneurship Network and Monsha'at (Saudi Arabia's SME Authority), is one of the world's largest and most prestigious startup competitions. Since its inception in 2019, the EWC has seen over 430,000 applicants from 200 countries, connecting founders to $4M in cash prizes and $266M in global support. From November 5-9, the EWC 100 startups battled it out in Riyadh, showcasing cutting-edge solutions across industries. SALUTS' Robot-on-Chip won the Economics of The Future award for its ability to transform space technology, enhance autonomous decision-making, and reduce reliance on Earth-based data processing. The Future of AI-Driven Operations Begins Now And recently, at #WebSummitQatar 2025, SALUTS is making another game-changing announcement: the launch of CHIRB (Computing on Hybrid Interplanetary Relay Basis) - a breakthrough in AI-driven operations that fuses Web2.0 and Web3.0 into a next-generation control portal for space, defense, and industrial AI applications. With CHIRB, we're disrupting how we think about connectivity, autonomy, and intelligence - not just on Earth, but across the entire space-tech ecosystem. 🔹 Web2.0 Portal - - Optimized for enterprises seeking a powerful AI operations hub. 🔹 Web3.0 DAO - - Decentralized infrastructure for the future of autonomous AI networking. The CHIRB Advantage: AI-First, Hardware-Free, and Limitless 🚀 Beyond Traditional Networks - CHIRB doesn't just connect devices-it enables autonomous AI-driven decision-making for space, defense, and industry. 🛰 Hardware-Agnostic & Scalable - While CHIRB powers our Robot-on-Chip tech, it can also integrate with customer hardware or function entirely as a software solution. 🌍 From Earth to Orbit - A hybrid AI control layer that brings real-time, autonomous mission management to satellites, defense systems, IoT networks, and industrial operations. 🔐 Decentralized & Secure - CHIRB is Web3-ready, ensuring next-gen security, efficiency, and adaptability for future-proof AI ecosystems. Revolutionizing the Internet with a Space-Tech Mindset SALUTS is not just innovating in space operations-we're challenging the very foundation of how AI-powered networks function. Imagine an Internet that isn't bound by terrestrial infrastructure - one that adapts, learns, and operates autonomously across satellites, defense networks, IoT, and industrial automation. That's the power of CHIRB. B2B Quotation Requests Open March 2025 SALUTS invites satellite operators, defense agencies, IoT leaders, and industrial tech companies to join our early B2B program. Starting March 2025, we will begin accepting B2B quotation requests for CHIRB. Be among the first to integrate AI-driven, hardware-free operations into your mission-critical workflows. A Special Journey Supporters Bayerisches Staatsministerium für Wirtschaft, Landesentwicklung und Energie | European Space Agency - ESA | ESA BIC Bavaria | EUSPA - EU Agency for the Space Programme | founders@unibw | Global Entrepreneurship Network | MonshaatSA | SME Bank | Misk Foundation | BibanGlobal The future is autonomous. The future is SALUTS. 🚀 Connect with Us Mobile: +49 173 3894760Email: hello@ PR Contact:ZEX PR WIREinfo@ SOURCE: SALUTS View the original press release on ACCESS Newswire
