Badir Incubator for Information and Communication Technology has supported 162 technological projects worth SR 150 million in the field of software development, communications and multiple media since its launch two years ago as the first Saudi national incubator until the end of 2009, as well as supporting 26 customers. In a special report, the Saudi Press Agency (SPA) said that 6 loans worth SR 53.67 million were provided last year, including SR 16.5 million to be provided by Saudi Credit and Saving Bank, in addition to the provision of about 174 jobs through facilities targeting a number of markets locally, regionally and internationally. The expected current volume of investment amounted to more than SR150 million. It is expected that two customers will achieve incomes of about SR 12 million and 12 customers to achieve SR 292 million; and 7 companies taking advantage of the incubator are expected to become high-growth technology companies. Six projects adopted by Badir got loans of more than SR 70 million from Saudi Credit and Saving Bank were considered as the leading achievement last year. --MORE
