Kaust is preparing for the third phase of its Taqadam startup accelerator, which is supported by a host of Saudi Arabian academic institutions and claims to have achieved a 35% female participation rate.
King Abdullah University of Science and Technology (Kaust) has kicked off the third phase of its multi-university-backed Taqadam startup accelerator catered to Saudi Arabian students, staff and recent graduates, according to Arab News.
Launched in 2016, Taqadam’s initial phase supported 39 startups and has altogether awarded $1.2m in grant funding through the scheme.
Each participant is eligible for an SR75,000 ($20,000) grant as well as entry to a co-working space. Kaust has so far accepted 42 applications for its latest intake from a pool of 518.
Taqadam is based at Kaust’s mixed-sex campus in Thuwal, Saudi Arabia. A total of 133 entrepreneurs are involved with the scheme, 35% of which are reported to be women.
The concept is intended to support the development of a knowledge-based Saudi Arabian economy less dependent on oil production, by providing training in areas including agtech, artificial intelligence (AI), e-commerce, energy,…
