TAQADAM, a KAUST-based accelerator program, awarded $1 million to 10 startups at its eighth annual showcase. To date, TAQADAM has supported 270 startups that have raised $297 million and created 3,569 jobs. The selected companies span climate monitoring, pharmaceutical supply chain, AI marketing, and healthcare. Why it matters: This funding and support highlights the growing entrepreneurial ecosystem in Saudi Arabia, fostered by KAUST and initiatives like TAQADAM, aimed at translating research into practical solutions and creating jobs.
The 2018 TAQADAM Accelerator Showcase, a partnership between KAUST and SABB, awarded SAR 2.25 million in follow-on funding to winning startups. 24 startup graduates from 11 universities in Saudi Arabia participated, each having received SAR 75,000 in initial grant funding. Winning startups included Wayakit, with an instant laundry spray, and EDAMA Organic Solutions, focused on converting organic waste into soil conditioners. Why it matters: This accelerator program highlights the growing focus on deep tech innovation and entrepreneurship within Saudi Arabia's research and business ecosystems.
KAUST launched the third cohort of its TAQADAM startup accelerator program on February 8th. The program, a partnership between KAUST and SABB, aims to equip students, faculty, and recent Saudi graduates with the tools to launch tech companies. This year's cohort consists of 133 people from 42 startups, with 35% female participation. Why it matters: Accelerators like TAQADAM are crucial for fostering entrepreneurship and translating research into commercial ventures, contributing to Saudi Arabia's diversification goals.
24 startups from the seventh TAQADAM cohort at KAUST are preparing to pitch their business ideas to investors on March 3, 2024, after surviving the accelerator program. The startups received mentorship in product design, pricing, and legal matters. Example startups include Cognna (cybersecurity), BuildBench (construction platform), Talents Arena (AI recruitment), and Trh Capital (Shariah-compliant finance). Why it matters: This KAUST program highlights growing entrepreneurial activity and venture capital interest in Saudi startups, especially in areas like cybersecurity and AI.
The TAQADAM Startup Accelerator Program, in partnership with KAUST and the Saudi British Bank (SABB), awarded over 2 million SAR to startups at its finals. 28 startups pitched ideas to judges and investors, marking the program's third year of equipping entrepreneurs with skills to launch tech startups. Since 2016, TAQADAM has graduated 78 startups and awarded over 9 million SAR in funding. Why it matters: The initiative highlights Saudi Arabia's commitment to fostering entrepreneurship and diversifying its economy by supporting innovative ventures across various sectors.