SCSB, Mobily launch platform for innovators

22/09/2014 16:40 AST

Saudi Credit and Savings Bank (SCSB) and Etihad Etisalat (Mobily) have signed a strategic partnership agreement to launch the ‘Firnas’ platform for innovation, which aims to provide the necessary support and encouragement for innovators in Saudi Arabia.

The agreement was signed by Dr Ibrahim Abdulaziz Al Hanichl, director general of the bank and Engineer Khalid Al Kaf, managing director and CEO of Mobily earlier this month.

Firnas is an open platform for innovation, initiated by Mobily, in partnership with the National Centre of Small and Emerging Enterprises a subsidiary of SCSB.

Firnas will provide an opportunity for all to share their creative ideas that could be applied practically on the ground as commercial projects. The role of Mobily comes in providing operational and technical support as well as marketing support, whereas the role of SCSB is to provide the commercial support and professional training for innovators.

Firnas provides an integrated platform to transfer the latest news related to entrepreneurship, technology and innovation. The platform provides also an integrated experience for the ambitious participants who have innovative ideas for commercial projects. All the online community members will be asked to vote on the ideas that come up and give their comments on them. The voting process will determine three winners monthly.

Firnas will provide the winners the technical and commercial guidance in addition to necessary training to be ready for applying their ideas on the ground. It will also provide the opportunity for the innovators to meet the investors.

The owner of the top idea will get SR10,000 ($2667), the second position will win SR5,000 ($1333) and the third position will get SR2,500 ($667).

Dr Ibrahim Abdulaziz Al Hanichl, director general of the bank, said: “Our bank is always urging to find solutions and renewable projects for the youth to encourage them to be engaged in starting their own business. We are aware in the SCSB about the extent of contribution of these projects in achieving the development goals of Saudi’s economy and its positive impact in strengthening the infrastructure of small and medium enterprises.”

Trade Arabia