King Faisal University

Entrepreneurship Center

The incubation period will be for one year, starting in February and ending in January, the admission will be announced and application evaluation will begin during January. In the third week of January the incubating projects will be presented to Pitching investors. You can also apply for an incubation at any time other than January.

 

In order to accept the application for admission, the idea or project must meet the following conditions:

- The idea corresponds to the identity of the incubator (agricultural projects and associated projects, environmental sustainability represented by dry hot zone solutions).

- The idea is innovative (a new product or adding new value to an existing product, inventing a method or modifying the method of manufacturing a list, providing a new service or adding a new suit to an existing service), preferably intellectual property, and the idea is scalable until it enters the production stage and then marketing.

- The project is based on a profit basis and a measurable business model, and the entrepreneur must be able to demonstrate an urgent need for his project in the market.

- The project must be at an initial stage in order for incubation to benefit from it.

- The idea should be presented by a scientifically diverse team, at least one of whom is available to oversee the project.

- The entrepreneur must submit a brief baseline action plan.

- The entrepreneur should be prepared to cooperate in achieving system of incubation to its objectives and carrying out its tasks.

 

The incubation mechanism will be as follows:

- Apply for incubation through the incubator's website, and fill out the prepared form, which includes applicant data and project data in short (problem and solution, target customers and competitive advantage). 

- Evaluation of the application by the Supervisory Board, and the evaluation may require an interview with the applicant or the team.

- Report whether or not to accept the application for incubation, or requesting that the idea or some information be updated and submitted again.

- Completing administrative procedures with accepted people, including signing contracts and agreements with the incubator.


The incubator will be exited and the incubation will end in the following cases:

  • - The completion of the project idea being transformed into a product or startup.
  • - One year after embracing the idea of the project without achieving the objectives set out in the executive plan.
  • - The incubated non-compliance with the implementation stages specified in the executive plan, and if it acted alone in the idea of the project.
  • - Breach of any of his obligations, such as non-cooperation with the project guide, misuse of the resources and facilities provided to the incubator, and violation of the work ethic and profession.

 


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