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.
Aramco has signed an MoU with KAUST, pledging to fund up to $100 million in R&D projects over the next 10 years. The collaboration will focus on areas like energy transition, sustainability, materials transition, upstream technologies, and digital solutions. Specific research areas include liquids-to-chemicals conversion, low-carbon aviation fuels, hydrogen, and carbon capture. Why it matters: This major investment will accelerate innovation in critical areas like sustainable energy and materials science, aligning Saudi Arabia's research priorities with its economic diversification goals.
The Directed Energy Research Center (DERC) received a US$1.5 million grant from the UAE Research Program for Rain Enhancement Science (UAEREP). The grant was awarded at the UAEREP's 5th Cycle Awarding Ceremony in Abu Dhabi. DERC was recognized for its research on laser-induced rain and the development of a mobile high-power pulsed laser using remote sensing. Why it matters: This funding supports the development of sustainable, chemical-free rain enhancement technologies, addressing critical water security challenges in arid regions.
KAUST startup Lihytech has raised US$6 million in funding from Ma'aden and the KAUST Innovation Ventures Fund. Lihytech's patented membrane technology, developed by Professor Zhiping Lai at KAUST, extracts battery-grade lithium from sources like seawater. The funding will be used to build a pilot facility at KAUST to extract lithium from the Red Sea and other in-Kingdom resources. Why it matters: This investment supports Saudi Arabia's goal of developing a complete electric vehicle value chain and becoming a key player in meeting global lithium demand.
KAUST and the International Venture Club are seeking tech companies in the Middle East and Europe for investment and expansion opportunities in Saudi Arabia. The Arabian Tech Tour, held in Jeddah and Riyadh in November 2015, will showcase 25 emerging companies from the region and 25 growth companies from Europe. Selected companies will present to VCs, corporations, and business angels. Why it matters: This initiative aligns with Saudi Arabia's National Science, Technology and Innovation Plan to create a knowledge-based economy and foster innovation, particularly in cleantech.
KAUST, in partnership with SABB, has opened applications for the 2021 TAQADAM Startup Accelerator, welcoming up to 60 startups. Each startup will receive 150,000 SAR in zero-equity grant funding, access to co-working spaces, training, and expert mentors during the six-month program. Saudi Arabian-based startups at all stages and international startups planning to expand into Saudi Arabia are encouraged to apply by April 10, 2021. Why it matters: This accelerator program provides crucial resources and funding for early-stage entrepreneurs in Saudi Arabia, fostering innovation and contributing to the growth of the Kingdom's startup ecosystem.
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 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.