Saudi businessman finances Badir’s new invention project

Badir Program for Technology Incubators at King Abdulaziz City for Science and Technology (KACST) has signed an agreement with a Saudi investor that would provide the necessary financial support for one of its projects.
The accord was inked by Ibrahim Al-Samhan, the project head, with businessman Ibrahim Al-Rashed who will finance the launch of the project that aims to provide a mechanism for the promotion and development of human resources and social responsibility programs in the public and private sectors across the Kingdom.
Under the agreement, the investor will support the development of this ambitious project, which seeks to bring about a change in the management operations from traditional method to a modern and sophisticated one.
The project will enable a sustainable business growth with more services at a lower cost and provide external consulting service. It is designed to provide business development services to companies in the public and private sectors in the areas of internal transactions and outsourcing of human resources, competencies and competitive advantages.
Nawaf Al-Sahaf, Badir’s executive director stated that this agreement is one of the fruits of the network (Sirb) for individual investors, which was launched by Badir recently. It plays an important role in providing funding opportunities and open new channels to provide the necessary financial support for technical small and medium enterprises (SMEs) projects.
“It also works to help Saudi entrepreneurs to turn their ideas and inventions to a successful investment technical projects that would contribute to the diversification of income sources, and create more job opportunities for Saudi youth,” he noted.
“Investing in the technical field and support Saudi entrepreneurs to develop their ideas is very important,” investor Al-Rashed said, adding that the move would help to utilize the local talent and development of technology in the Kingdom.