A Conceptual Review on Development Strategies to Promote Techno-preneurship in Kingdom of Saudi Arabia

Abstract

The development of Small and Medium Enterprises (SMEs) has vast advantage in providing creative input leading to rapid expansion of financial and communal forecast of any developing or developed country at large. A motivated SME sector may set up a strong foundation to increase the standard of living and reduce poverty. However, there must be an exact and continuous need to improve the factors that provide a congenial entrepreneurial ambiance to overcome key barriers. The fostering of SMEs is not simply preserving and maintaining the technology, business and knowledge as exhortation, but one has to see to the rapid development in the streams of science and technology. These are the disciplines that are leading towards knowledge base for entrepreneurial talents and technology driven enterprises. Knowledge-based industries are likely to gain utmost importance and make possible facilitation towards promulgation of SMEs. The major aim is to contribute to establish a techno-entrepreneurial-knowledge based society, and to assist them in guiding the entrepreneurial excellence through innovative research which may commensurate with the needs and alleviate bottlenecks of the society and thereby reducing the gap between the technology & enterprises more precisely SMEs. The current concentration is more so on human resource development. This has to be extended towards grooming the techno-preneurship amongst enterprising minds through appropriate Technology Business Incubators (TBIs) in the era of globalization for achieving planned and sustained economic development with a focus on technology, research and innovation