MIT REAP Team Al Madinah’s regional focus is on Al Madinah municipality, which is a city of Hejaz and the capital of the Al Madinah area of Saudi Arabia. The team has strong university stakeholders, including, the University of Umm and KAUST University.
Innovation Ecosystem Stakeholder Model
Ahmad A. Mahayri
Champion CEO, Co-Founder, Namaa Al Munawara; Member of Board, Advisor to the Governor
Established pre-accelerator (3 months) for female entrepreneurs – 560 participants, 13,000 training hours, resulting in 43+ companies generating revenue (2016)
Launched Branding Hackathon (April 2016) – 90 participants, focused on logo/identify, story/content, and packaging for the female founded companies
Establishing an accelerator (3-6 months) AlMunawara Accelerator Program (MAP) to educate and encourage entrepreneurs through mentorship, marketing assistance, coaching, training, team building, funding and prototyping spaces. Accelerator tracks for religious tourism focused on:
Food & Beverage
Design Innovation: new products for the religious sector
Social progress and economic prosperity as a collective measure of development in a region.
Innovation-Driven Entrepreneurial Ecosystem
Innovation-Driven Entrepreneurial Ecosystems are regional environments that effectively support startups focused on addressing global markets based on technological, process or business model innovation.
Ability to develop new to the world innovations from inception through to the market.
-Funding for research
-Nature of established companies in region
Culture & Community
Ability to start and build new to the world businesses from inception to maturity.
-New business creation policy
-Business law and business policy
-Government, corporate and consumer demand for new products and services