SVCIC becomes strategic partner of Badir program

Saudi Venture Capital Investments Company (SVCIC) has been added to the list of strategic partners of the Badir Program for Technology Incubators. These partners will provide support and financial funding to entrepreneurs, allowing them to implement their ideas and launch their projects in the technical phase of an early development.
Badir is one of the programs at King Abdulaziz City for Science and Technology (KACST) that provide support to young Saudi inventors in technology.
On this occasion, Abdul Aziz Al-Harqan affirmed the importance of establishing an effective partnership between the public and the private sector for the program that provides support to innovators and entrepreneurs in the technical field.
He also suggested providing facilities so Saudi youth could turn their ideas into investment projects and successful businesses that would contribute to the diversification of income sources and strengthen the national economy.
Al-Harqan pointed out that Badir has succeeded in this regard. The program developed a range of innovative means of financing, such as the establishment of a network of retail investors and other support mechanisms. Institutions that specialize in the technical support of entrepreneurship are lacking, he added.
He said that the program is working hard toward more communication and cooperation with the private sector at all levels to support entrepreneurship in technology sectors and the achievement of optimal investment in the minds in Saudi Arabia.
The program also guides innovative and technical projects toward the needs of local and international markets to achieve the objectives of the comprehensive national plan for science, technology and innovation.
It also aims to achieve the vision of the city to transform the Saudi economy to a knowledge-based economy.
The official added that Badir works with a number of financiers and Saudi investment companies to provide financing solutions to various clients and beneficiaries of its services. These solutions would suit their financing needs and expansion plans.