Business Incubator

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Business Incubator

A program to help a start-up stay in business. A business incubator may offer management consulting or other services to provide a new company with needed resources to overcome common problems. Very commonly, business incubators also offer more concrete aid, such as free or discounted rent on an office for the first six months of operations. Companies that pass through a business incubator stage have a much higher success rate than those that do not.
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Summary: King Abdulaziz City for Science and Technology, represented by Badir Program for Technology Incubators, has recently announced a new partnership STC to offer ICT solutions to start-ups incubated by Badir.
Now, let's review what are technology incubators, science and technology parks and how they can help develop economies like Pakistan.
Arshad Ali, Executive Director HEC chaired the session, which aimed to deliberate the Government's ICT policy, particularly patronization of the growing concept of Technology Incubators and Accelerators and discuss ways to engage with a broader audience and further explore possibilities of encountering new ideas, said a news release on Monday.
This has led to the proliferation of business and technology incubators for mentoring and nurturing the ideas of students and young entrepreneurs for business start-ups.
As they start to crank up halfway through a three-year pilot, the new technology incubators and repayable loan program for startups are set to be reviewed by the Ministry of Business, Innovation and Employment.
Riyadh, Rabi'II 04, 1437, January 14, 2016, SPA -- Under patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the King Abdulaziz City for Science and Technology (KACST) represnting by BADIR Program for Technology Incubators and Saudi Business Incubator Network (SBIN) will organize the 7th Annual Saudi Technology Incubation Conference 2016 from from January 27-27, 2016, corresponding to 16 to 18 Jumada II, 1437H.
Technology incubators represent today an increasing share of existing business incubation programmes.
During the meeting, the Badir program for technology incubators at KACST and Wa'ed (Saudi Aramco Entrepreneurship Company Limited) underlined the importance of mutual cooperation and coordination to support technology entrepreneurship, foster Saudi innovators, and develop the sector of technology incubators in the Kingdom.
Means of boosting cooperation in the field of education, scientific research and ways of establishing technology incubators were the main topics of discussion.
But firms from technology incubators created more jobs than other types of incubators," said team member Lou Tornatzky, director of the Southern Technology Council at Research Triangle Park, NC.
The 110 Israel exhibitors include the universities in Jerusalem, Tel Aviv and Be'er Sheva, which will display a range of new developments in the field of biotechnology; companies like Teva, Hadasit, Pharmos and Bioline Rx; and technology incubators such as Misgav, Rad BioMed, NGT and Yozmot-Granot.
Sheikh Hamdan Bin Mohammed Bin Rashid Al-Maktoum, the Crown Prince of Dubai and Chairman of the Executive Council, awarded Badir Program for Technology Incubators, one the initiatives launched by King Abdulaziz City for Science and Technology (KAUST), Sheikh Mohammed Bin Rashid Award for Young Business Leaders (YBL) in its tenth edition, for the best incubators and accelerators providing entrepreneurship support.

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