RIYADH — Individual investors have the biggest stake in Badir incubated startups in the innovation and modern technology field at SR30 million, representing 40 percent of the total funding. In the third quarter of 2017 alone, the funding amounted to SR75 million.

The government came in second with financial support to such companies at SR29 million, corresponding to 39 percent of the total, statistics issued recently by Badir Program for Technology Incubators revealed.

On the other hand, the private sector companies released about SR10 million equivalent to 13 percent of the total, while investment funds shelled out about SR6 million to the funding of startups or 8 percent of the total.