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.
KAUST has launched REVelate, a corporate innovation program aimed at mid and senior management of Saudi-based companies. The four-month program includes lectures, workshops, and mentoring to develop projects important to the participating companies. It is designed to foster an 'intrapreneurship' culture and enhance the innovation capacity of KAUST industry partners. Why it matters: This initiative addresses a critical need for corporate innovation methodologies in Saudi Arabia, potentially boosting the performance and competitiveness of local companies.
KAUST and SABB will award 10 million SAR to entrepreneurs in the fourth TAQADAM Startup Accelerator program, doubling the zero-equity grants from previous years to 150,000 SAR per startup. 59 startups across sectors like agriculture, logistics, and healthcare have joined the cohort. Participating startups will receive expert mentorship and training, industry exposure, and funding to invest in growth and development without sacrificing equity. Why it matters: This increased funding and support from KAUST and SABB signals a strong commitment to fostering a thriving deep-tech startup ecosystem in Saudi Arabia, providing crucial resources and mentorship to promising ventures.
KAUST and the Saudi British Bank (SABB) are partnering in the TAQADAM Startup Accelerator program, supporting 82 entrepreneurs from 37 teams across 18 Saudi universities. The program offers up to SR75,000 ($20,000) in pre-seed funding from SABB, working spaces at KAUST, and mentorship over six months. The accelerator has awarded SR4.5 million ($1.2 million) in pre-seed funding to date and aims to contribute to economic development and job creation in line with Saudi Vision 2030. Why it matters: This collaboration fosters innovation and entrepreneurship in Saudi Arabia, providing crucial resources for startups in key technology sectors like AI and fintech.
KAUST PhD student Amal Aboulhassan founded MaterialSolved, a startup created with support from the KAUST New Ventures Accelerator. The startup's focus area is not specified in the provided text. Why it matters: KAUST's efforts to translate research into startups highlights the increasing focus on commercializing academic innovation within the Kingdom.
KAUST and SABB have launched the fourth TAQADAM Startup Accelerator program, open to all entrepreneurs in Saudi Arabia. The six-month program offers accepted startups 150,000 SAR in zero-equity grant funding, mentorship, and access to co-working and lab facilities. Startups can compete for an additional 375,000 SAR in follow-on funding at the end of the program. Why it matters: This initiative is key to supporting the growth of the entrepreneurship ecosystem in Saudi Arabia and diversifying the Kingdom's economy, aligning with Saudi Vision 2030.
The TAQADAM University Entrepreneur Accelerator program held a showcase at KAUST featuring 13 Saudi university startup teams. The program, sponsored by the Saudi British Bank (SABB), aims to develop early-stage entrepreneurs into high-potential startups. The overall winner was Telaa, offering an anti-corrosion coating using recycled crumb rubber. Why it matters: This multi-university accelerator boosts Saudi Arabia's Vision 2030 by fostering innovation and supporting the SME sector, providing crucial seed funding and mentorship for young entrepreneurs.
KAUST is expanding its REVelate corporate innovation workshop into a larger "Innovation Academy" program. The program targets Saudi-based companies, nonprofits, and government organizations. It aims to develop novel processes, design thinking, and intrapreneurship to benefit their missions and support the Kingdom's knowledge economy. Why it matters: The expansion signals KAUST's growing role in fostering innovation and entrepreneurship within Saudi Arabia's corporate and public sectors.