BIAC

The Business Incubators and Accelerators Company (BIAC) is a subsidiary of the Saudi Technology Development and Investment Company (TAQNIA), which is wholly owned by the Public Investment Fund (PIF). Established in 2017, BIAC is the first licensed company in Saudi Arabia to manage business incubators and accelerators. Its mission is to enable innovation in the Kingdom by building, operating, supporting, and developing a nationwide innovation ecosystem. BIAC operates across three key pillars: innovation management (including training camps, hackathons, incubators, accelerators, innovation labs, and research centers); innovation partnership services (attracting global technology companies and connecting them with local entities); and innovation support services (IT solutions, HR management, marketing, finance, and legal services for public and private sector clients). BIAC's programs have contributed more than SAR 2.1 billion to Saudi Arabia's GDP, reached over one million beneficiaries, and created approximately 3,000 direct jobs and 200,000 indirect jobs.