Abstract
In the ongoing competitive global market, business incubators are considered the backbone of economic development of a region. Among the many different types of business incubators, the most significant type involved in creation of employment opportunities, boosting the local economy, and commercializing particularly innovative technologies is termed as the 'technology incubators.' Just like the rest of the world, Government of the Kingdom of Saudi Arabia (KSA) is working to bring innovative businesses promising to contribute in the nation's technological growth at the heart of its financial policies. In this report, the current occurrence and working of technology incubators has been studied in KSA. Furthermore, the report also discusses the significance of three parameters: creativity, knowledge-sharing, and diffusion of innovation, in the promotion of technology thus highlighting their potential in helping technology incubators in KSA to progress rapidly with the help of a proposed model.