Misk Foundation Company Profile

Background

The Misk Foundation, officially known as the Mohammed bin Salman Foundation, is a non-profit organization established in 2011 by Saudi Crown Prince Mohammed bin Salman. Its mission is to discover, develop, and empower Saudi youth to become active participants in the future economy. The foundation focuses on education, culture, media, and technology, aiming to foster a knowledge-based society that aligns with Saudi Arabia's Vision 2030. By establishing incubators and forming partnerships with esteemed institutions, Misk provides an attractive and stimulating environment for learning and development.

Key Strategic Focus

Misk Foundation's strategic objectives include:

Education and Entrepreneurship: Operating institutions like Misk Schools and Riyadh Schools, the foundation offers comprehensive educational programs from primary to secondary levels. It also runs initiatives such as the Misk Accelerator and Misk Startup School to support entrepreneurship and prepare youth for leadership roles in both public and private sectors.

Culture and Arts: Through entities like the Misk Art Institute and Manga Productions, Misk promotes Saudi culture and arts locally and internationally, supporting artists and enriching the cultural scene.

Science and Technology: The foundation encourages innovation and digital transformation by offering capacity-building programs in fields such as artificial intelligence and user experience design.

Financials and Funding

As a non-profit organization, Misk Foundation's financial model includes foundation-administered program awards, grants to individuals and organizations, loans to individuals, matching grants, and program-related investments. The primary funder is Mohammed bin Salman bin Abdulaziz.

Pipeline Development

Misk Foundation has undertaken significant projects to enhance its infrastructure and outreach:

Misk Schools Campus: Set to commence the next academic year at its new 21-hectare campus in the Prince Mohammed Bin Salman Nonprofit City, the facility will accommodate over 1,000 students aged three to 18 years.

Misk Foundation Headquarters: Designed by Australian firm Conrad Gargett, the new headquarters in the Nonprofit City will serve as a hub for youth development, innovation, and creativity.

Technological Platform and Innovation

Misk Foundation leverages various technological platforms and innovative methodologies:

Manga Productions: A subsidiary focusing on creative content, including animation and video games, to promote Saudi culture.

SNK Corporation Acquisition: In 2022, Misk acquired a 96% stake in Japanese video game company SNK, aiming to enhance its presence in the entertainment and gaming industry.

Leadership Team

Mohammed bin Salman bin Abdulaziz: Founder and Chairman of the Board of Directors.

Badr bin Humood Al-Badr: CEO, appointed in July 2019, with a background in leadership roles across various sectors, including as CEO of Dur Hospitality Co.

Leadership Changes

In July 2019, Badr bin Humood Al-Badr was appointed as CEO, bringing extensive experience in leadership and management to the foundation.

Competitor Profile

Market Insights and Dynamics

The non-profit sector in Saudi Arabia is experiencing growth, driven by initiatives aligned with Vision 2030, focusing on youth empowerment, education, and cultural development.

Competitor Analysis

While Misk Foundation operates uniquely within its domain, other organizations contribute to similar objectives:

King Abdulaziz Center for World Culture (Ithra): Focuses on cultural enrichment and education.

King Salman Youth Center: Aims to inspire and support young leaders.

Strategic Collaborations and Partnerships

Misk Foundation has established significant partnerships to enhance its impact:

Bloomberg Partnership: In 2018, Misk partnered with Bloomberg to advance Saudi Arabia's Vision 2030 by creating financial training programs and finance labs at 30 Saudi universities, and equipping 250 Saudi companies with market training and resources.

UNESCO Collaboration: Misk has collaborated with UNESCO on various initiatives, including the Misk Global Award for NGO Innovation in Youth Empowerment.

Operational Insights

Misk Foundation's strategic initiatives, such as the development of the Nonprofit City and the acquisition of SNK Corporation, position it as a leader in youth empowerment and cultural development. Its focus on education, entrepreneurship, and technology aligns with national objectives to diversify the economy and foster a knowledge-based society.