In line with the Kingdom’s Vision 2030 and its National Transformation Program 2020, Siemens signed a Memorandum of Understanding with the MiSK Foundation. The MoU outlines the joint intention to expose a greater number of Saudi youth to advanced technologies, to expand the Kingdom’s tech community, and to develop the next generation of business leaders and experts in digital technology.

The MoU was signed at the inaugural MiSK Global Forum, a two-day event held under the patronage of HRH Prince Mohammad bin Salman. About 1,500 young people from Saudi Arabia and other parts of the Arab World attended the event, with thousands more joining online from all over the world. More than ninety international thought leaders spoke at the conference and addressed topics ranging from technology and entrepreneurship to leadership and culture. 

Bader Al Asaker, the Secretary General of the MiSK Foundation and co-signatory to the Memorandum of Understanding said, “We’re delighted to be collaborating with Siemens, a global leader in Electrification, Automation and Digitalization. Technology is the fulcrum of our economic transformation. As Saudi Arabia reforms its economy and focuses on harnessing the potential of its youth, it is only natural that technology is playing a central role as a catalyst, channel and industry in its own right. But we can only build up our technology skills and infrastructure by collaborating with the best in the world, that’s why this initative from Siemens is of vital importance.”

Joe Kaeser, President and CEO of Siemens AG, delivered a keynote at the event. He talked about how Siemens is developing new ways of managing innovation and emphasized the importance of ecosystems and constructive disruption: “In the digital domain, innovation happens in ecosystems and where there is eagerness for impactful disruption. Today, the most powerful innovation is a combination of purpose, collaboration and ingenious disruption. We call this Ingenuity for life”

To become faster and more innovative, Siemens recently launched next47, a separate unit within the Group. Its mission is to foster disruptive ideas more vigorously and to accelerate the development of new technologies by collaborating with start-ups. The name “next47” refers to 1847, the year Siemens was founded in Germany.

The MiSK Foundation is a non-profit organization that was established by Deputy Crown Prince HRH Mohammad bin Salman. The foundation supports business, technology, science, arts, and societal development in Saudi Arabia by establishing programs and by collaborating with both local and global organizations. Through a variety of incubators, the Foundation is helping to develop intellectual capital and unlock the potential of all Saudi people. Its aspiration is to make Saudi Arabia a knowledge-based society that values lifelong learning.

As a partner, Siemens will participate in the upcoming MiSK Hackathon from November 25 to 27. This is the world’s first, two-nation, and 48-hour live broadcast hackathon and innovation challenge. It brings together the most inventive minds in Saudi Arabia and the UK to change the world by solving world health issues through innovation. Up to 400 young inventors and entrepreneurs based in London and Riyadh are competing in mixed teams of up to 10 people. 

As a leading global provider of healthcare technologies, Siemens Healthineers will guide and mentor the young Saudi tech community during the event. The theme of this event is “The Medical Internet of Things.”