The KAUST Innovation Fund will provide venture capital investments in technology-based startups, ranging from seed funding (less than $200,000) to early-stage (up to $2 million). KAUST aims to become a shareholder in the startups it funds and act as a long-term strategic partner. Applications for seed funding can be submitted at any time, and the Fund is seeking startups with a large potential market, a superior product/technology, and a strong team. Why it matters: This initiative should accelerate the growth of technology startups in Saudi Arabia and attract international investment to the Kingdom's innovation ecosystem.
KAUST and Research Products Development Company (RPDC) have signed a partnership agreement to support technology commercialization and early-stage startups in Saudi Arabia. RPDC and the KAUST Innovation Fund will co-invest in startups and establish a joint mentorship and startup exchange program. RPDC will co-invest or match KAUST funding of up to $2 million into deep tech startups at the proof-of-concept, seed and series A funding stages. Why it matters: This collaboration aims to bolster the innovation ecosystem within Saudi Arabia, accelerating the transition of academic research to commercial applications.
Three KAUST startups, iyris, Oaesis, and UnitX, were selected in the top 10 at the Startup Istanbul international competition out of 90,000 applicants. iyris secured third place with its technology, while Oaesis developed a laser-based energy-efficient lighting system for indoor farms. KAUST supports emerging companies from ideation to marketing and financial support. Why it matters: This showcases KAUST's role in fostering innovation and contributing to Saudi Arabia's knowledge-based economy by supporting promising startups on the global stage.
KAUST hosted the 2015 Arabian Tech Tour, a regional version of an international event for venture capitalists, entrepreneurs, and industry leaders. The event featured 50 early-stage companies from 15 countries pitching to over 100 representatives from global investment and venture capital firms. Total assets under management of attending investors were estimated at around $10 billion. Why it matters: This event highlights KAUST's role in fostering innovation, attracting knowledge-based industries to Saudi Arabia, and creating high-value jobs in the Kingdom.
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.