Abstract:

In the ongoing competitive global market, business incubators are considered the backbone of economic development of a region. Among the many different types of business incubators, the most significant type involved in reaction of employment opportunities, boosting the local economy, and commercializing particularly innovative technologies is termed as the ‘technology incubators.’ Just like the rest of the world, Saudi government is working to bring innovative business promising to contribute in the nation’s technological growth at the heart of its financial policies. In this report, the current occurrence and working of technology incubators has been studied in Saudi Arabia. Furthermore, the report also discusses the significance of three parameters: creativity, knowledge-sharing, and diffusion of innovation, in the promotion of technology thus highlighting their potential in helping technology incubators in Saudi Arabia to progress rapidly with help of a proposed model.