Badir for Biotechnology launched in March 2010 as the first Saudi Bio business incubator.
Badir for Biotechnology Incubator offers support for the creation, development and growth of new businesses in the field of biotechnology.
Badir for Biotechnology offers high quality business services and excellent unique facilities to help startups achieve their goals and potentials.
To be recognized as a leading Biotechnology Incubator globally. This is achieved by providing excellent business development services for technology and enterprise and a business ecosystem to dedicated entrepreneurs
Scope of work:
Badir for Biotechnology incubates the following four industry sectors:
- Life Science
- Healthcare and Pharmaceuticals
- Food and Agriculture
The incubator is a pillar of the development of the Biotechnology based businesses and stimulates economic growth based on Saudi Science and Technology. By doing so, Badir for Biotechnology, supports the creation of high value employment and encourages entrepreneurship environment in Saudi biotechnology.
Selection Criteria Include:
- An innovation in the field of life sciences or biotechnology.
- The technology has to have past the proof of concept stage.
- Evidence that the business will be viable and will create high value, knowledge-based jobs in Saudi Arabia.
- The business must have good growth potential
- The entrepreneur should ideally have an outline financial plan and a good knowledge of the marketplace, including potential competition.
- Ideally the team members 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.
- Assistance in the development of a business strategy for each project.
- Access to modern facilities and a conductive environment for startup businesses growth.
- Access to specialized workshops on entrepreneurial aspects of biotechnology, start-ups and businesses, for staff and investors.
- Business, legal, administrative and marketing consultancy and guidance.
- Networking support for links to commerce, in Saudi Arabian and global markets.
- Assist in access to finance 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. The program comprises a range of workshops, seminars and individual business counselling sessions.
Stages of Incubation:
- Stage 1: Assist incubatees (both tenants and virtual clients) to develop their business model, business plan in preparation for the establishment of the technology based business and the sourcing of finance. Special arrangements have been put in place with the Saudi Credit Bank to address the early stage funding gaps faced by new Biotechnology entrepreneurs. This stage includes intensive assistance in groups or individual sessions.
- Stage 2: Assist incubatees with the establishment of their business, the setting up of processes and plans for growth. This stage comprises intensive individual assistance and access to additional resources and networks.
NOTE all stages of incubation at Badir for Biotechnology are open to both men and women
- Dedicated laboratory and office space (the incubator has 11 modern laboratories available for tenants. Laboratory availability is dependent upon existing occupancy).
- Shared laboratories and equipment: (4 fully equipped laboratories are available to all incubatees).
- Clean room facilities.
- Telecommunications services and high-speed Internet.
- Seminar facilities and conference rooms.
- Video-conferencing facilities.
- The incubator offers24 hour access, seven days a week.