Business Incubator Services
The business incubator service is designed for entrepreneurs who wish to establish innovative, distinctive, or scalable technology-based companies that offer products or services in a better and different way in the Saudi market. These businesses are supported by accredited entities, typically one of the following:
- Government ministries
- Government universities
- Accredited business incubators by Monsha'at (Saudi Small and Medium Enterprises Authority)
For a company wishing to establish a business in Saudi Arabia, it is necessary to obtain a support letter or proof from an accredited entity such as a government ministry, a Saudi university, or a business incubator in the country. Additionally, the company must submit a Board of Directors’ resolution stating their intention to apply for a license, clarifying the type of innovation and the sponsoring entity along with defining its powers. A copy of the national ID is required if one of the partners is a natural person (individual) holding the nationality of a GCC country (if their data is not registered in the Absher system), or a passport for the license applicant.
The business incubator service in Saudi Arabia is supported by the Monsha'at Authority and aims to foster entrepreneurship in the country. It supports startups, stimulates innovation, and develops the capabilities of entrepreneurial idea owners by issuing a license for entrepreneurs, backed by an accredited business incubator. This service provides co-working spaces and creates an attractive environment for startups, after meeting the required conditions. This support helps businesses obtain necessary facilities and defines the requirements for supporting and growing the entrepreneurship sector in Saudi Arabia.