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Bank of Palestine and TechnoPark Forge Strategic Partnership to Boost Innovation and Entrepreneurship in Palestine

Posted On: 11-07-2024 | National News , Economy
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Ramallah / PNN /

Bank of Palestine and Technopark, a leading Palestinian-Indian technology company, have signed a landmark agreement aimed at bolstering the innovation and entrepreneurship ecosystem in Palestine. This initiative particularly focuses on women and youth, enhancing the technology sector to create a sustainable and thriving environment for innovative businesses in Palestine. 

The agreement will leverage resources and capabilities to provide opportunities for innovators and startups, both locally and internationally, through various activities, training events, creative thinking sessions, and ideation workshops. Additionally, it aims to strengthen connections with expatriate Palestinian youth through workshops, dialogue programs, and media initiatives, and develop methods for using technology and programming to assist entrepreneurs in meeting their financial needs and transactions. 

The agreement was signed by Mr. Mahmoud Al Shawa, General Manager of Bank of Palestine, and Mr. Ala Alaeddin, Vice Chairman of TechnoPark, at the TechnoPark headquarters in Birzeit. The signing ceremony was attended by several managers and directors affiliated with the bank, as well as board members of TechnoPark, including Mr. Saad Abdul Hadi and Mr. Jamil Thaher. 

Mr. Mahmoud Al Shawa expressed his pride in the partnership, highlighting its potential to foster creativity and innovation in Palestine by utilizing resources, capabilities, and expertise to develop this vital sector. "Despite the ongoing suffering of our people in Gaza, we are meeting today to create new hope for Palestinian youth through a strategic partnership between Bank of Palestine Group and TechnoPark to support the entrepreneurial environment and the emerging innovation ecosystem for youth," stated Al Shawa. 

He added, "This partnership embodies our investment in shaping a future with wide horizons for our Palestinian youth. Beyond achieving economic and social development, this long-term investment will support startups, provide opportunities for innovators, and create an environment that nurtures ideas and enhances the global presence of these startups, leaving a Palestinian mark across the globe." Al Shawa emphasized that the partnership with TechnoPark is part of the Bank’s commitment to comprehensive sustainability and its social responsibility towards youth and women entrepreneurs. "This partnership will promote hopes and opportunities for youth, enabling them to serve their Palestinian community and reach global markets through their innovative ideas, as well as enhance their resilience and ability to face challenges without considering emigration," Al Shawa remarked. 

Mr. Ala Alaeddin, Vice Chairman of TechnoPark, also appreciated the multi-year partnership, stating that this agreement "represents an important step in enhancing the creative environment for entrepreneurs, contributing to driving economic growth, and encouraging technological innovation and progress." Alaeddin noted that the agreement would serve as a catalyst for creating an innovative ecosystem to address unemployment among women and youth, introduce the world to Palestinian innovations, and establish a pioneering Palestinian imprint, thus promoting economic and social development efforts. 

It is worth noting that the proximity of the new TechnoPark to Birzeit University and its relationships with all Palestinian universities will help students familiarize themselves with the world of entrepreneurship and innovation before graduation. This includes the incubation of creative projects for university students and contributing to creating a business and entrepreneurship ecosystem that helps develop and market business opportunities.

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