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Prince Mohammed Bin Salman College and KPMG partner for Family Business Hackathon
Collaboration between KPMG, Prince Mohammed Bin Salman College of Business & Entrepreneurship and the National Center for Family Business on Family Business Hackathon 2024
This first edition of the Family Business Hackathon is an initiative of the Prince Mohammed Bin Salman College of Business and Entrepreneurship (MBSC) and the National Center for Family Business. KPMG was onboarded as the Knowledge Partner and Diamond Sponsor, underscoring their commitment to fostering the growth and sustainability of the family business ecosystem.
The three-day event, held from June 27 to June 29 at King Abdullah Economic City (KAEC), brought together 265 EMBA students in an immersive learning environment designed to equip them with essential skills for understanding family business dynamics and problem-solving. In their role as knowledge partner and facilitator, KPMG professionals shared insights and guidance through an expert marketplace model.
Fuad Chapra, Head of Advisory Solutions and Head of Private Enterprise & Family Business at KPMG in Saudi Arabia, delivered a keynote presentation on KPMG’s latest publication focused on family business legacy. A group of six KPMG professionals supported the student teams, providing guidance on their assigned challenges, and served as jury members to evaluate the presentations. This initiative by MBSC aims to promote the continuity and sustainable growth of family-owned businesses. The event featured a blend of lectures and presentations, experiential learning sessions, and a case study about real-world scenarios provided by a leading family business in Saudi Arabia.
Chapra, commenting on the collaboration, said, “We are excited for this strategic collaboration with MSBC to help develop a new generation of innovative leaders with an elevated understanding of family business dynamics and beyond. Family businesses have a unique dynamic, often striking a balance between preserving legacy and innovating through the generations to continue their success journey. We are proud to align with the goals of Vision 2030, as we aim to contribute to entrepreneurship, employment and economic diversification.”
Dr. Adnan Maalaoui, Professor of Entrepreneurship at Mohammed Bin Salman College for Business and Entrepreneurship, commented: “MBSC engages with large corporations to provide the talent and expertise needed to excel in the evolving global landscape. Our industry partnerships ensure graduates have the skills sought by employers, facilitating a smooth transition from academia to the workplace. Our partnership with KPMG aligns with our mission to empower individuals and organizations, fostering critical thinking and confidence to navigate real-world complexities. This collaboration ultimately supports the sustainable development and economic growth of Saudi Arabia, and Vision 2030.”
MBSC is dedicated to developing entrepreneurial leaders through world-class education and research. Within the college, the MBSC Family Business Institute was established to specifically addresses the unique challenges and needs of family-owned businesses. Led by Dr. Tarek Elmasri, Professor of Accounting, the Family Business Institute conducts academic research, provides tailored executive education programs and strategic advisory services. Together, these institutions aim to cultivate a thriving ecosystem where family businesses can continue to grow, contribute to economic development, and foster harmonious family dynamics.
Situated in KAEC, MBSC provides a modern environment for both students and faculty, and offers various post-graduate programs both in KAEC and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.