At FUDEX 2017, Comptel and STC Launch an Initiative to Instill the Spirit of Innovation and Entrepreneurship in KSA Youth
HELSINKI, Finland— 29 March 2017 — Comptel Corporation (NASDAQ OMX Helsinki: CTL1V) today announced a joint initiative with Saudi Arabia-based ICT operator STC to help the Kingdom of Saudi Arabia (KSA) capitalise on the new digital era and deliver on its vision for 2030. At the Future of Digitization Expo 2017, taking place in Riyadh on 28-29 March, Comptel and STC will launch “Hunt a Shark,” a contest for KSA youth looking to bring digital lifestyle innovations to life.
As an aspiring ICT leader with robust technology infrastructure and a deep market footprint, STC is a key driver for vision 2030. Supported by Comptel’s thought leadership in innovation, and its digital service orchestration and application-embedded intelligence capabilities, the partnership is well-positioned to execute on KSA’s vision.
At the very heart of vision 2030 lies innovation, youth enablement, cost optimisation and economic growth through new revenue sources. The “Hunt a Shark” contest will unlock these objectives by inviting university students from Riyadh to share their ideas about emerging digital platform and artificial intelligence-driven economies. Finalists will compete to secure – or ‘hunt’ – seed funding, training and mentorship to support their ideas, based on business rationale, uniqueness, viability, relevancy and alignment of their idea with vision 2030.
“STC and Comptel have been partners for nearly two decades and ushered KSA into the era of GSM. This memorandum of understanding marks another chapter in our strategic partnership, as we join hands to step into the new digital era and make strides toward vision 2030,” said Mr. Nasser Al Nasser, Senior Vice President of Technology and Operations, STC. “The future that vision 2030 promises will be shaped by youth – they will make it a reality. Therefore, it is of the utmost importance that we instill the spirit of innovation and entrepreneurship in this generation. This initiative will go beyond FUDEX to international forums and serve as a flagship platform to make all of us – the people of KSA, STC and Comptel – proud.”
“As a strategic partner of STC, we are delighted to join them in supporting local initiatives and nurturing the talented youth who will play a major role in realising the future of KSA,” said Juhani Hintikka, CEO, Comptel. “Digital platforms and artificial intelligence are two areas that are ripe for innovation on a global scale, and we look forward to seeing what Riyadh’s budding entrepreneurs will bring to the table.”
“Hunt a Shark” is the latest collaborative initiative in a 20-year-old partnership between Comptel and STC. It builds on a programme launched in 2014 to develop the skills of KSA’s young IT professionals, educating them on telecommunications networks and Comptel’s product suite, while enabling them for future leadership positions within STC.
About Comptel Corporation
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