Lockheed Martin said this week that it is teaming up with Babson Global, a wholly owned subsidiary of Babson College, to create a college for entrepreneurship at King Abdullah Economic City (KAEC) in Saudi Arabia.
Lockheed said the new college will be based on Babson College’s entrepreneurship programs, which are considered some of the best in the U.S. The college will enroll approximately 1,400 students and will offer undergraduate, master’s and developmental programs. It is expected to begin instruction in 2017.
The KAEC aims to create economic opportunities by offering entrepreneurs and businesses a space to facilitate economic growth
“We are committed to supporting the economic development of the Kingdom of Saudi Arabia with an innovative program that will provide sustainable returns and benefits,” Alan Chinoda, CEO of Lockheed Martin Saudi Arabia, said. “Today’s announcement is the culmination of four years of project planning and maturation, and Lockheed Martin is honored to be a partner with Babson in this exciting initiative.”
Lockheed Martin will be providing funding for the program over a 10-year time frame.