Fusion of passion & mission, profession & vocation critical for entrepreneurial success

JEDDAH — The Economic Cities Authority (ECA) participated in the MIT Technology Review Arab Edition Conference, which was held at Bay La Sun Hotel in King Abdullah Economic City (KAEC) on the sidelines of the MIT Enterprise Forum Arab Startup Competition. Jointly organized by the MIT Technology Review Arab Edition and the MIT Enterprise Forum Pan Arab, the conference titled Time to Invest in Arab Youth and Their Innovations, addressed the tremendous opportunities for regional and global players to invest in an increasingly innovative Arab youth. Representing ECA, Wassim Khashoggi, Vice Secretary General of Operations, delivered a speech in which he said: “It is time to invest in Arab youth and their innovation, time to showcase talent and creativity, and time to pay attention to a very critical and important segment of our society.” Khashoggi drew the attention of the audience to the Japanese concept of Ikigai (which literally means “a reason for being”), which is about finding the purpose of life through what you love, what the world needs, what you can be paid for and what you are good at. He addressed all young entrepreneurs by highlighting the importance of combining passion with mission, profession and vocation, by saying “Everyone have Ikigai; founding it requires deep and lengthy search of one self. However, as entrepreneurs, I believe you have found your Ikigai, you have found your reason for being.” He then joined a panel discussion titled “Accelerating Growth through Entrepreneurship & Innovation” where he said ECA is at the forefront of a new way of thinking in Saudi Arabia, thinking that places a new emphasis on private investment and entrepreneurial development that will lead the Kingdom into the future. During the panel discussion, Khashoggi talked about the facilitations ECA is providing to investors in the Economic Cities, highlighting ECA’s main focus which is creating an environment that attracts investors and entrepreneurs by providing integrated government services to assist in setting up business operations quickly and smoothly, from fast tracking regulatory requirements such as licenses and permits, to obtaining visas for employees and business visitors. He emphasized the importance of ECA’s partnership –as a governmental entity– with innovative non-governmental organizations such as MIT Enterprise Forum, whereby entrepreneurs and business leaders get to know ECA’s mandate and all the facilitations provided for new investors to start their business journey in the Saudi economic cities. Khashoggi thanked the Ministry of Interior, Makkah Region Directorate General of Immigration & Passports, the Ministry of Foreign Affairs and King Abdulaziz International Airport for their support in finalizing visa requirements and reception for all the participants in the competition. The MIT Enterprise Forum of the Pan Arab Region is one of the 28 worldwide chapters of the MIT Enterprise Forum Global, an avid promoter of entrepreneurship and innovation worldwide. — SG