The National Technology Development Program (NTDP) and KAUST hosted 20 Saudi startups at the 'NextEra' startup bootcamp, focusing on launching deep tech products. These startups specialize in fields like Generative AI, SpaceTech, and Green Tech. The KAUST-NTDP partnership aims to advance Saudi Arabia’s economic transformation goals by cultivating impactful startups. Why it matters: This initiative supports the growth of Saudi Arabia's deep tech sector, fostering innovation and aligning with the Kingdom's broader economic transformation objectives.
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.
KAUST launched the ShenTech Bootcamp in Shenzhen, China, in collaboration with Shenzhen InnoX Academy, hosting 45 Saudi startup founders and students. The program, which ran from January 4-18, 2024, focused on equipping participants with business strategies and technical skills for developing market-ready products. KAUST also created a master’s degree graduate program: Technology, Innovation and Entrepreneurship (TIE) which includes an immersive startup innovation experience in Shenzhen. Why it matters: This initiative fosters knowledge exchange and collaboration between Saudi and Chinese innovators, aligning with Saudi Arabia's efforts to cultivate a thriving startup ecosystem and develop hardware and software products.
KAUST and SABB awarded $1.1 million in non-dilutive funding to 11 startups at the TAQADAM Startup Accelerator Showcase. Ten startups each received $100,000 from a judging panel, and Autlient, a computer vision startup, won the People's Choice award and an additional $100,000. The TAQADAM accelerator aims to develop early-stage entrepreneurs and their concepts into high-potential startups from Saudi Arabia and beyond. Why it matters: This funding boosts the Saudi startup ecosystem, particularly in areas like fintech, health tech, and AI-driven solutions like computer vision, fostering innovation and economic diversification.
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.
Saee, a KAUST-supported Saudi startup based in Jeddah, aims to disrupt last-mile delivery in Saudi Arabia by addressing challenges like delays and cash-on-delivery (COD) issues. They offer services such as fast COD consolidation, flexible dispatch to freelancers, and warehouse management. Saee also introduces a new concept called Cash Before Delivery (CBD) to improve cash flow for e-commerce platforms. Why it matters: This aims to solve a key bottleneck for e-commerce growth in Saudi Arabia, where COD is prevalent and creates financial inefficiencies.
KAUST is partnering with the MiSK Global Forum (MGF) to support the 2020 Entrepreneurship World Cup (EWC), hosting a bootcamp for finalists. Four of the six Saudi startups among the top 100 in the EWC global finals are from KAUST. The EWC is the world's largest entrepreneurship competition, attracting 175,000 applicants from 200 countries. Why it matters: This partnership provides KAUST-nurtured startups with significant global exposure and resources, strengthening the Saudi entrepreneurship ecosystem.
Saudi startup Firnas Aero, founded in 2018, offers drone-based inspection services targeting aviation, security, industrial, and delivery sectors. The company develops its own drones and AI-equipped software for faster and more accurate inspections than manual methods. Their solution involves drones capturing high-resolution images analyzed by AI to pinpoint issues, enhancing speed and accuracy. Why it matters: This showcases Saudi Arabia's growing entrepreneurial interest in drone technology and AI-powered solutions for industrial applications, potentially improving efficiency and safety across sectors.