20 startups graduate from Badir Program's Inventions Transfer accelerator
20 startups have graduated from Badir Program's second inventions transfer accelerator. Following their technological innovations at the end of the programme, Badir organised a graduation ceremony for its startups.
The graduation ceremony was attended by Dr. Fawzan Al-Fawzan, deputy general supervisor for innovation and manufacturing at KACST, Esam Al-Thukair, vice governor of entrepreneurship advancement at the General Authority for Small and Medium Enterprises (Monshaat) and Mohammed Al-Huzaimi, director of shared services at Badir.
The six-month accelerator saw 46 applications. 26 of them qualified to enter the training bootcamp.
From them, there have been 20 inventions in various industrial fields, including biotechnology, water technology, and electronic technologies, who were qualified to enter the accelerator.
Badir Program aims to file patents for these inventions within a maximum period of six months. The patents will be filed to speed up the implementation, development, and marketing of inventions.
The graduation ceremony also saw the startups showcase their inventions, innovations, projects and plans to investors and attendees. During the ceremony, several financing, investment, and business development agreements were signed between graduating projects, the Badir Program, and Monshaat.
Mohammed Al-Huzaimi, Director of shared services at Badir, explained the programme style, saying that the second accelerator was launched in early December 2018, continued for 180 days, and comprised three phases, the first of which was the prototyping and testing phase, while the second included building the final products. The third was the marketing and investment phase.
“Since we believe in the importance of inventions and innovations and their role in placing the Kingdom at the forefront in line with Vision 2030, KACST, represented by Badir, will continue to promote innovation and support youth entrepreneurship by continuing to launch such accelerators in the future or embracing and accelerating new projects graduating from this accelerator.”Mohammed Al-Huzaimi, Director of shared services at Badir
He added that inventions transfer accelerators plays a significant role in quickening the pace of work to transform technology into patents and build businesses, providing promising opportunities to invest capital and create new markets, which, in turn, strengthens the Kingdom’s economic role and raises its benchmark in the Global Innovation Index.