Professionals take the lead
The content, delivery and expertise for the certification came from the collaboration of dedicated Saudi Aramco professionals who have been developing this master plan for many years. These professionals included representatives from our Technology Commercialization Group, Management and Professional Development Department, Law, Saudi Aramco Energy Ventures and our entrepreneurial center Wa'ed Venture Capital.
Each startup randomly selected a specific challenge based on a core theme of “futures.” The challenges range from a rethinking of current business processes, National Transformation Program 2020 objectives, and Vision 2030 strategic objectives. The critical success factor for day one was to design and develop a 1-D word cloud or write-up, 2-D drawing or sketch, and a 3-D model based on a service, product or platform that the startup was going to deliver.
In doing so, the team navigated through the four zones of ideation/discovery, tinker, maker, and proof of concept, intellectual property (IP). Each startup had to flex its entrepreneurial muscles since there were specific charges incurred throughout the journey. These charges included studio rental fees, material fees, in addition to mentoring and consultation charges.
There were six “seed-fund accelerator” sessions during which startups could inject more funds by playing the “wheel of innovation” game and answering specific questions, based on the core learning objectives. The startup could win prizes that ranged from instant cash injections to awards and grants.
Startups were also tempted to spend their well-earned seed fund via an innovation auction, which included various items that would give companies a competitive advantage.