Badir launches the second round of the «inventions transfer accelerator»
Badir Program for Technology Incubators and Accelerators, one of the leading initiatives of King Abdulaziz City for Science and Technology, (KACST), has announced its readiness to receive requests from inventors wishing to join the second round of the «inventions transfer accelerator» programme, which aims to activate patents through a variety of services aiming at and accelerate the implementation, development and marketing of inventions within six months.
The launch of the second round of the «inventions transfer accelerator» programme follows the great success achieved by the first round, which took place in early 2017 and which saw the launch and conversion of eight inventions to businesses, out of the ten inventions supported in the stage of industrialisation and development.
In order to join the «inventions transfer accelerator» programme, supervised by the Badir Office of Inventors’ Services, there must be some indication of the commercial opportunity and the marketability of the invention. A protection document issued by one of the recognised patent offices shall be available, and and precedence will be given to the documents issued by the Saudi Patent Office. Such documents shall be owned by the Saudi individual or individuals, and the invention shall prove the ability to cover the costs of implementation and development in case the cost exceeds the amount of initial funding provided, along with the ability to complete the project in time within the period set for the accelerator, in addition to passing the stage of initial assessment and the training camp.
BADIR's Office of Inventors' Services aims to provide specialised consultancy, in the fields of invention, to Saudi private inventors, as well as to develop the capabilities of inventors, by holding lectures, conferences, training courses and seminars. The Office also supports the coverage of all financial entitlements upon the applications of Saudi inventors presented to the Saudi Patent Office .
Nawaf Al Sahaf, CEO of Badir Technology Incubators and Accelerators said that the inventions transfer accelerator is an initiative which aims at activating patented Saudi inventions owned by Saudi individuals, through the construction of prototypes, testing and experimenting, culiminating in the construction of the final products of these inventions, in addition to building the commercial identity of those inventions, by providing logistics services such as legal advice, administrative and commercial consulting and other facilities for the success of these projects.
He stressed that the second round of the inventions transfer accelerator aims to attract creative inventors who have innovative ideas and who have the leading and serious qualities for joining the accelerator and working on the implementation and development of the invention.