The IDC at JTI Received a License of Business Incubators from the General Authority for Small and Medium Enterprises SMEs

12/30/2018

The Industrial Development Center (IDC) of the Jubail Technical Institute (JTI) of the Royal Commission for Jubail obtained the license of business incubators from the General Authority for Small and Medium Enterprises (SMEs) which was established in 2016. Its objectives are to regulate the small and medium enterprises sector in the Kingdom and to support, develop and sponsor it according to the best international practices. Also, to increase its contribution to GDP from 20% to 35% by 2030

Therefore, IDC joined the first Saudi network of incubators, business accelerators and joint works spaces. The license is aimed to obtain the facilities provided by SMEs and its partners from government and private sectors. As well as, identifying the needs and requirements to support and sustain the entrepreneurship sector. The license was required for a number of conditions, including: submitting a plan of action containing a feasibility study, and describing the activities of the business incubators and their services.

In fact, IDC is one of the first incubator organizations across the country to receive the license; as well as, the first incubator for entrepreneurship in the area of Jubail. Moreover, the IDC is the third organization to obtain the license in the eastern province after the "Sahabit Al-Imam" which is part of Al-Imam University in Dammam and "Business Incubators" in Al-Ahsa region. It is worth to mention that IDC specializes in supporting entrepreneurs and business leader's male/female to develop their ideas and businesses within an industrial environment. Also, IDC acts under JTI which aims to provide qualified graduates the opportunity to be part of the industrial sector in addition to the possibility of adopting their ideas of entrepreneurs and their projects. Further, the vision of the IDC is to become the leader in the Kingdom when it comes to embrace and develop ideas whether in industrial sector or service sector etc. As a result, small/medium entrepreneurs will support industrial societies and create new job opportunities. Therefore, IDC mission to support the growth and sustainability small and medium-sized enterprises by providing an industrial incubator or service environment that encourages the transformation of their ideas into real project.