Oct 07, 2019
STC Business and Badir Program Sign an Agreement to Support Startups with Innovative Solutions
STC’s stand in GITEX witnessed yesterday the signing of a cooperation agreement with Badir Technology Incubators and Accelerators Program which aims at supporting the establishment and growth of entrepreneurial and startup projects. The agreement was signed by Mohammed Al Hakbani, Vice President of Enterprise Sales at STC and Nawaf Al Sahhaf, the CEO of Badir Program, in presence of HRH Mohammed bin Khaled Abdulla Al-Faisal, Chairman of STC, and STC Group CEO Nasser Al-Nasser.
The agreement aims at supporting startups in the technology field through innovative solutions that contribute to raising the added value of the project. STC Business offers many services to SMEs from the establishment of an enterprise’s infrastructure to the day-to-day provision of technical services including phone, internet connection, and advanced services such as cloud computing, cybersecurity solutions, sales management, and the Internet of Things (IoT).
In this context, Al Hakbani emphasized the importance of small and medium enterprises. He said that this sector is the backbone of the economy in most countries of the world, as it accounts for more than 90% of the total number of enterprises worldwide and contributes to 50% of GDP. He added that STC seeks to support this sector given that it is a great source of job opportunities. Statistics show that 50 to 60% of the total workforce works in enterprises classified as medium or small.
Develop the technology incubators industry in Saudi Arabia As well as promote the concept of technology entrepreneurship and transform technology projects into successful business opportunities Badir Program seeks to support and develop the technology incubators industry in Saudi Arabia, as well as to promote the concept of technology entrepreneurship and transform technology projects into successful business opportunities. Badir Technology Incubators and Accelerators Program is among the most important national and creative environments supporting the establishment and growth of entrepreneurial projects and startups.It was founded in 2007 by King Abdulaziz City for Science and Technology to support technology-based business venture opportunities and develop technology entrepreneurship.
Support of companies and startups incubated by Badir Program to accelerate the development of incubated technologies in this emerging category whose business ventures graduated from Badir Incubation Program. The program does this by providing telecom service and digital solution offers at special prices (within the powers of the Director General). This supports these startups in their digital development , provides them with the empowerment needed to deliver their work, and contributes to reducing their operational costs.
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