Business Incubators and Accelerators Company (BIAC)

Overview

Established in 2016, the Business Incubators and Accelerators Company (BIAC) is a subsidiary of the Saudi Technology Development and Investment Company (TAQNIA), which is wholly owned by the Public Investment Fund (PIF). BIAC focuses on the setup, operation, maintenance, and management of business incubators and accelerators, as well as entrepreneurship support platforms, innovation programs, and technology transfer. The company provides project management services, specialized consultations, and training services to enhance human resource capabilities. BIAC aims to contribute to the growth and development of the innovation and entrepreneurship environment in Saudi Arabia, aligning with the objectives of Vision 2030, which include supporting entrepreneurship and small and medium enterprises and increasing their contribution to GDP. The company has established several local and international partnerships in the field of innovation and has impacted more than one million beneficiaries through various awareness initiatives on innovation. This effort has contributed more than SAR2.1 billion to Saudi Arabia’s GDP and created approximately 3,000 direct jobs and 200,000 indirect jobs. As the first licensed company in Saudi Arabia to manage business incubators and accelerators, BIAC actively supports innovation initiatives. Its activities include the establishment and support of technology companies, raising awareness of innovation through programs and initiatives, and promoting entrepreneurship and economic diversification in line with Saudi Vision 2030.

Investment Focus

Focus on innovative startups and entrepreneurs
Alignment with Saudi Vision 2030 objectives
Potential for significant economic impact

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Frequently asked questions about Business Incubators and Accelerators Company (BIAC)

What sectors does Business Incubators and Accelerators Company (BIAC) invest in?

Business Incubators and Accelerators Company (BIAC) invests in Technology, Business Services, Innovation and Entrepreneurship, and is based in Riyadh, Saudi Arabia. Business Incubators and Accelerators Company (BIAC) is listed as a corporate vc in the ConnectSafely investor database.