Badir Program contributes US$560 million to Saudi economy
Source: MPR Saudi for Badir Program , Author: Posted by BI-ME staff
Posted: Sun October 14, 2018 4:59 pm


SAUDI ARABIA. Badir Program for Technology Incubators and Accelerators, one of the leading initiatives of King Abdulaziz City for Science and Technology, has contributed an estimated 2.1 billion riyals ($ 560 million) to Saudi Arabia's economy on a cumulative basis from 2010 to the end of last year, based on the total revenues of 620 million riyals achieved by the incubated and graduated technical companies in the Program.
 
The results of the "Economic Impact Assessment Report" conducted by the Australian company CREEDA Projects, which specializes in the establishment and management of technical incubators globally, showed that the contribution from the Badir Program to the Saudi economy was about 664 million riyals during the past three years, an increase of 56 per cent, compared to the "Economic Impact Assessment Report" conducted in 2015.
 
The Economic Impact Assessment Report for the period from 2015 to the end of last year includes a summary of the economic indicators of the Emerging Technology Companies Sector in Saudi Arabia in terms of the development of the sector's contribution to the gross domestic product (GDP) and its direct impact on economic growth and share of the labour market and total investments.

The report also includes projections of the rates of development and growth in these indicators in the coming years.

Photo Caption: Nawaf Al Sahhaf, CEO of Badir Program Technology Incubators and Accelerators (File photo) 

 

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