KFAS Innovation Challenge 2016
Kuwait Foundation for the Advancement of Sciences and Cambridge Judge Business School Executive Education Conclude Executive Education Programme on Business Innovation
Cambridge and Kuwait City – July 2016: The Kuwait Foundation for the Advancement of Sciences (KFAS) and University of Cambridge Judge Business School Executive Education announced today the completion of the KFAS Innovation Challenge 2016, an applied executive education program for Kuwaiti private sector companies.
The Innovation Challenge 2016, which began in Kuwait in November 2015 and concluded in May 2016 in Cambridge, bringing transformative impact to nine participating companies through a focus on innovation and enhanced skills that deliver sustained business growth. This provided an opportunity to develop their innovation capabilities. The project teams embarked on a “real-life” innovation journey that embedded innovation learning through practical application and resulted in innovation initiatives that can add real value and impact to their companies. The companies that completed the program were Agility, Axis Solutions, Boubyan Bank, ITS, Kuwait Finance House, Kuwait Energy, Tabco Food Company, M.H. Alshaya and Warba Bank.
The areas covered in the program on Innovation were regarding the architecture and culture of innovative organizations, key tools for measuring the impact of innovation initiatives, working collaboratively on the innovation agenda and skills in preparing and presenting innovative business cases.
The six-month program included a two-day Ideation Workshop module in Kuwait 25-26 November 2015 and a further five-day module in Kuwait 13-17 December 2015 entitled The Fundamentals of Innovation, followed by a four-month period to plan and implement an innovation project in their respective companies with mentoring support from Cambridge Judge Business School on a bi-weekly basis. For the final module, was held between 23-27 May 2016 where the teams that successfully complete the program requirements travelled to Cambridge UK where they attended a workshop “Making it Happen” and go on site visits to innovative companies. Throughout the five-day workshop the participating teams were able to take a deeper dive into innovation and see what global companies are doing.
The program commencement was held in the second week of June where the teams presented their projects to KFAS and their management and shared their learning insights.
In a statement about the program Dr. Mohammed Salman Director of the Innovation and Enterprise Directorate said “KFAS has partnered with world-class academic institutions to bring advanced Executive Education to Kuwait’s private sector with the objective to develop its capabilities through provision of programs carefully designed based on latest advancements and world-class experiences that respond to the changing needs of businesses.”
Participation in this unique program was open to all Kuwaiti private sector companies through nomination of a company team with a size ranging from two to four members. Each team was to be assessed based on their combined capabilities and potential to achieve the program objectives. Ten teams with the highest potential were then chosen to participate in the program.
Dr. Salman also added “Innovation is vital to the success of private-sector companies in today’s global and local economies, so we are delighted to have partnered with KFAS to develop and deliver this unique programme.”
KFAS organises the Innovation Challenge annually and is open to teams from the private sector companies.
About The Kuwait Foundation for the Advancement of Sciences (KFAS)The Kuwait Foundation for the Advancement of Sciences (KFAS)a non-profit organization established by an Amiri Decree, has been providing sustained support to the progress and advancement of science and technology for the last 38 years. H.H. The Amir of the State of Kuwait chairs the Foundation’s Board of Directors. Private sector companies contribute 1% of their annual net profits to the Foundation.
The main objective of KFAS is to stimulate creative initiatives and human potentials that promote building a solid scientific and technological base and facilitate an enabling environment of innovation and culture. Initiatives include developing public awareness of science, strengthening the success factors of innovations, and enhancing innovative and research capacities. KFAS also aims to support the talented and the gifted and to transform knowledge into tangible and practical innovations and to build a foundation for a knowledge-based national economy through supporting scientific, innovative and technological capacity in the private sector.
For more information, please visit the Foundation's website: www.kfas.org
About Executive Education at Cambridge Judge Business School, University of Cambridge
Cambridge Judge Business School leverages the power of academia for real world impact to transform individuals, organisations and society. Since 1990, Cambridge Judge has forged a reputation as a centre of rigorous thinking and high-impact transformative education, situated within one of the world's most prestigious research universities, and in the heart of the Cambridge Cluster, the most successful technology entrepreneurship cluster in Europe. The School works with every student and partner or client organisation at a deep level, identifying important problems and questions, challenging and coaching people to find answers, and creating new knowledge.
Cambridge Judge Business School Executive Education offers a wide range of open enrolment and customised programmes for organisations, business professionals, managers, leaders, and executives from many different functions who strive for professional and personal growth. Programmes are developed to help executives and organisations from both the private and the public sectors achieve operational excellence and results. For more information, please visit: www.jbs.cam.ac.uk/programmes/execed