With a target capital of [amount], the Prince Mohammed bin Salman College of Management and Entrepreneurship in King Abdullah Economic City announced the establishment of an endowment fund to strengthen its academic, research, and applied programs and activities, and to ensure sustainable funding to achieve its goals of supporting the labor market with national talent, strengthening the role of small and medium-sized enterprises, and contributing to the development of the national economy in line with the aspirations of young people and the goals of “Vision 2030.”

The establishment of the endowment fund comes as part of the college’s efforts to strengthen its leading role in the fields of science and research. In this context, the fund aims to raise one billion riyals by 2020, to ensure continuity, achieve strategic objectives, diversify long-term funding sources, and build savings, in addition to effectively contributing to attracting a distinguished group of faculty members to benefit from the best scientific talent worldwide.
Lockheed Martin will contribute 375 million riyals to support the endowment fund, in accordance with the agreement signed between King Abdullah Economic City and Babson Global.