RTIC Nurturing Innovation

A technology incubator is an economic and social development entity that focuses on business creation for new technologies. It is created to select, establish and accelerate the growth and success of new, technologybased entrepreneurial businesses through a comprehensive technical and business assistance program.

Riyadh Technology Incubation Center (RTIC) is the technology incubator established by King Saud University (KS U) to create, encourage and support an environment of innovation and entrepreneurship that will stimulate economic activity, generate employment and leverage ICT to achieve the greater vision of creating a knowledge-based economy.

Since its inception in June 2008, RTIC has created several primary contacts with potential markets, partners and start-up financiers and assisted in foreign relations and seed funding including the arrangement of angel investors. The first success story of RTIC came from within the corridors of KS U itself, where a student, with RTIC’s assistance, developed an innovative product called “ECalling System” – a system that systematically and securely ensures the pick up of children from school. The product is in the pilot-testing phase. The product is well acknowledged and is likely to have bright future.

RTIC is the first incubator in the Kingdom to become a member of the National Business Incubation Association (NBIA ). RTIC is successfully creating strong partnerships between the government, private industry and KS U. RTIC provides state of the art facilities, which include, among others, professional office space, high-tech equipment, excellent meeting room facilities and a team of qualified professionals always available to assist clients. RTIC also provides access to KS U’s huge laboratory infrastructure for its clients.

With a well-defined market and stakeholders, promising deal-flow, a resourceful board of directors and mentors, cooperation from the community, government and players, RTIC has every ingredient necessary to be the leading technology incubator in the region.