Astrolabs becomes first foreign business incubator in Saudi Arabia

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Saudi Arabian General Investment Authority (SAGIA) has handed over the first foreign investment license in the field of business incubators and co-working space to Astrolabs, according to Saudi press Agency (SPA).

Astrolabs specializes in the services to entrepreneurs by training and developing emerging companies and providing them with the necessary information, training courses, support resources, and other services.

In addition, SAGIA has signed an agreement with Astrolabs to attract foreign entrepreneurs to invest in the Kingdom of Saudi Arabia, allowing foreign entrepreneurs to obtain a license to establish their companies with 100% ownership as part of the transformation that contributes to achieving the objectives of Saudi Vision 2030 to diversify the economy.

In this regard the Director of Innovation and Entrepreneurship Sector, Dr. Mazin al-Zaidi pointed out that Astrolabs will contribute to the development of the entrepreneurial and innovation environment in the Kingdom of Saudi Arabia.

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