The Second version of the Saudi Arabian Business Innovation Research (SBIR) program, aims to encourage the foundation and growth of technology-based companies and Provide solutions to government needs and encourage competition, launched here today with participation of governmental and private institutions. The Two day event which organized by King Abdulaziz city for Science and Technology(KASCT) also aims to Facilitate product development by businesses, Commercialize promising technologies from universities and research centers. Prince Turki bin Saud bin Mohammed Al Saud, Vice President of KACST for Research Institutes, lauded in the opening address the SBIR program's role in supporting the innovation system and its contribution in the enhancement of national competence. He expected that SBIR will contribute to encouraging the establishment and growth of national technology-based companies. "The program will support the development of technology-based products in Saudi Arabia as well as the innovating and marketing of promising technologies developed in the universities and research centers, catalyze high tech employment in the kingdom in addition to benefitting Small and medium enterprises, he added for online application, Prince Turki said it is only via SBIR website, www.sbir-kacst.org. During the opening ceremony, the participants watched a brief review of SBIR current programs in innovation field and discussed the needs of innovative technology in biology and the environment, water technology, oil and energy, space technology and aviation, in addition to nanotechnology, information technology, communications and electronics.
