Badir for Biotechnology was launched in March 2010. The incubator is based in the Faculty of Medicine at King Fahd Medical City in Riyadh and aims to encourage and support the establishment and development of new businesses in the field of biotechnology. Badir for Biotechnology incubates and projects pioneered by researchers, technologists, clinicians etc. in the fields of biotechnology and life sciences that have the potential to be the basis of high growth businesses in the Kingdom.
Scope of work:
The scope if work considred in Badir for Biotechnology includes the followin four subsectors:
- Biotechnology and Life Science Industries
- Healthcare and Medicine
To be a world class business incubator that provides excellent business development services and an entrepreneurial environment that will promote and advance biotechnology and ife science based businesses in the Kingdom.
The incubator aims to play a leading role in the development of the biotechnology and life scincess business sectors. It stimulates economic growth based on knowledge, innovation and development. In so doing it supports the creation of high value employment opportunities and assists organizations that are interested in investing in biotechnology.
- Assist in the development of biotechnology based business plans for each individual project.
- Grant access to advanced facilities and working environment to aid the growth of the businesses.
- Arrange workshops with diverse emphases in order to develop the individual skills marketing and promotional skills of biotechnology entrepreneurs the staff of the incubated businesses.
- Provide business, legal, administrative and marketing advice and guidance.
- Develop marketing and promotional skills.
- Build associations with commercial entities in the Saudi and global commercial market.
- Assist in the development of business strategies.
- Assist in finding financial support for the businesses being incubated.
Technology Entrepreneurship Awareness Program: assists entrepreneurs with the development of their ideas, and helps to improve understanding of technology based entrepreneurship, including important issues such as commitment and motivation. The program comprises a range of workshops and events.
Pre-Incubation Program: helps selected entrepreneurs to evaluate their ideas and conduct initial market research and planning to ensure their idea is a real business opportunity with commercial prospects and that their business model is potentially viable. It comprises a range of workshops, seminars and individual business counselling sessions.
Stages of Incubation:
Stage 1:assists incubatees (both tenants and vertual) to develop their business model, business plan and preparation for the establishment of the technology based business and to help source finance. Special arrangements have been put in place with the Saudi Credit Bank to address the early stage financing gaps faced by new Biotechnology entrepreneurs and businesses. This stage comprises intensive assistance in groups or individual sessions.
Stage 2: assists incubatees with the establishment of their business, setting up of their business processes and in planning for growth. This stage comprises intensive individual assistance and access to other resources and networks.
NOTE all stages of incubation at Badir for Biotechnology are open to both men and women
- Dedicated laboratory and office space where entrepreneurs can start their business (the incubator has 11 dedicated modern laboratories available for tenants. Availability at any one time is dependent upon existing occupancy).
- Access to shared laboratories and equipment: (4 fully equipped shared laboratories are available to all incubatees to use to help develop their business).
- Clean room facilities.
- Telecommunications services and high-speed Internet.
- Seminar facilities and conference rooms.
- Video-conferencing facilities.
- Access to the building 24 hours a day, seven days a week.
Selection Criteria include:
- The proposed business should be based on innovation and in the field of life sciences or biotechnology.
- The technological basis for the business has to be past the proof of concept stage.
- There should be evidence that the business will be viable and will create high value, knowledge-based jobs in Saudi Arabia.
- The proposed business must have a good potential for growth
- The entrepreneur should ideally have an outline financial plan and must have a good knowledge of the marketplace and the potential competition.
- Ideally existing team members should have experience of working together and preferably experience of business administration.
- The company must employ no less than 51% of Saudi nationals.
- The company must have at least 51% Saudi ownership.