KAUST, in partnership with MCIT and Hello Tomorrow, has released a report outlining a roadmap for Saudi Arabia to become a global deep tech hub. The report focuses on five pillars: ecosystem, investment, talent, infrastructure, and policy, highlighting the role of R&D in achieving Vision 2030. Deep tech startups in Saudi Arabia raised over $100 million between 2020 and 2022, with a 75% increase in deep tech researchers since 2015. Why it matters: This signals Saudi Arabia's increasing commitment to fostering a local deep tech ecosystem and attracting investment in advanced technologies.
KAUST is working to extend its research excellence to innovation and impact, aligning with Saudi Arabia's Vision 2030 to grow SME contributions. A KAUST Innovation Committee, led by Andrew Liveris, is collaborating with entities like TAQNIA and Monshaat to convert policy into tangible actions. The goal is to accelerate startups and deep technology development within the Kingdom, with KAUST startups playing a leading role. Why it matters: The initiative signifies a concerted effort to diversify the Saudi economy and foster a thriving startup ecosystem, leveraging KAUST's research capabilities.
KAUST's Destination Deep Tech program has concluded with five international startups—CeEntek, Hopu, Insignes-Labs, Pasqal, and Proteinea—expanding into the MENA region. These startups, chosen for their advanced technologies, address societal challenges like food security, climate change, and health. Pasqal signed an MoU with Aramco and is collaborating with KAUST's Extreme Computing Research Center, while Insignes-Labs is piloting with Red Sea Farms. Why it matters: This program exemplifies KAUST's commitment to fostering a deep tech ecosystem in Saudi Arabia, attracting global talent to align with Vision 2030 and tackle critical regional and global challenges.
KAUST has joined the Saudi Venture Capital and Private Equity Association (VCPEA) to support the Kingdom's deep tech startup ecosystem. The partnership will allow KAUST Innovation Ventures to further support early-stage startups. In 2020, Saudi startups saw a 55% increase in venture capital funding, reaching $152 million. Why it matters: This collaboration aims to connect KAUST's research and innovation with VCPEA's investment network, fostering the growth of Saudi Arabia's deep tech sector in line with Vision 2030.
KAUST startups have raised over $1 billion in total investments, generated $925 million in revenue, and created 6,661 jobs to date, with a total valuation exceeding $2 billion. In 2024 alone, these startups raised $150 million, demonstrating investor confidence in Saudi Arabia’s innovation ecosystem. KAUST Innovation Ventures focuses on co-investments with local and international venture capital firms. Why it matters: This milestone signals the growing maturity and global competitiveness of Saudi Arabia's deep tech sector, supporting Vision 2030 by attracting investment and creating high-tech jobs.