Young entrepreneurs were recognized at the prestigious Injaz-Saudi Arabia awards at Jeddah Hilton Tuesday night.

The competition was launched in 2010 and attended annually by winners from all over the Kingdom.

This year’s competition focused on preparing Saudi youths as the future leaders of the entrepreneurship world and involved 691 schools from more than 50 cities around the country.

Addressing the participants, Minister of Education Prince Khaled Al-Faisal said he was delighted to honor the distinguished group of student entrepreneurs from all over the Kingdom who had ensured a bright future for themselves through determination and hard work.

The prince, who sponsored the ceremony, also praised all the projects submitted in the competition, which is designed to develop leadership skills and foster a culture of entrepreneurship among young Saudi students.

In addition, the minister noted, the Ministry of Education was ready to implement the country’s 10th development plan, which aims to facilitate the Kingdom’s transition to a knowledge-based society.

“Entrepreneurship is essential for supporting the national economy, given its ability to create new valuable jobs for a wide spectrum of graduates and qualified individuals,” he said.

CEO of Injaz-Saudi Arabia Nayel Sameer Faiz also praised the teams of participants from 50 different cities.

He said the annual celebration coincides with the expansion of the company’s program in 25 educational areas all over the Kingdom in a move to help build a knowledgeable society and facilitate local community development.

He also thanked Prince Khaled for his sponsorship. The ceremony witnessed the signing of strategic agreements between Injaz-Saudi Arabia and certain government agencies to improve the competitiveness and skills of Saudi youths and develop their capabilities in order to qualify them as leaders of the future.

Muhannad Al-Ahmadi, director of Injaz-Saudi Arabia programs, said the company anticipated the basic needs of Saudi students and enabled them to access the business market through the implementation of Injaz initiatives in more than 30 cities around the Kingdom and help 12,000 students acquire business licenses, he said.

The annual event witnessed the presence of the ministers of education, economy, and commerce and industry and representatives of the private sector.