Saudi Arabia on Monday announced plans to establish 20 technology incubators by 2015 and 30 incubators by 2025 creating jobs for 20,000 people. The announcement was made at the opening of an international technology incubation conference in Riyadh.
Muhammad Al-Suwaiyel, president of King Abdulaziz City of Science and Technology (KACST), opened the conference aimed at increasing awareness about technology incubators, which are now at the forefront of developing new innovative technologies.
“KACST invests in science and technology and innovation, and innovation is crux of technological and economic development based on knowledge,” the president said, adding that it would help achieve sustained growth for Saudi Arabia.
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