The Saudi Telecom Company (STC) signed a number of partnership agreements during Gitex 2015 aimed at boosting innovation. STC signed agreement with The Center for Economy and Creative Innovation in South Korea (a JV with SK Telecom). A second agreement was signed with Ericsson to provide ICT systems and solutions to customers whether individuals, enterprises or telcos, in addition to digital and innovative services..
These agreements are in line with STC’s efforts to foster the development of innovation and entrepreneurship environment in order to transform creative ideas and projects into reality across a number of business sectors.
"These agreements are important because they facilitate cooperation between companies and adopt best practices. The two work in tandem to develop the backbone for a creative environment and jumpstart business leadership in the Kingdom through cooperation with leading global centers that provide specialized services, digital products, and business leadership and innovation in ICT,” commented Nasser Alsaadon, the GM for business development and innovation at STC.
The partnerships will provide services to companies incubated by InspireU which was launched earlier in the year to help expand regional economies and promote the culture of supporting nascent companies as well as begin to develop incubators and related programs.