RIYADH: King Abdullah University of Science and Technology will begin the second spherical of its Destination Deep Tech program inside the coming months, a senior official talked about.
The faculty has started accepting capabilities for the second spherical.
Destination Deep Tech is a three-month program that provides an ecosystem for deep tech startups to uncover options and thrive in Saudi Arabia.
“Destination Deep Tech is an unprecedented Saudi program meant to drive innovation in the country,” Kevin Cullen, KAUST’s vp of innovation, suggested Arab News.
The first spherical, which led to May, chosen 5 worldwide startups: Pasqal from France, Insignes-Labs from Poland, Proteinea from Egypt, Hopu from Spain and CeEntek from Singapore.
These deep tech startups demonstrated very important growth over this technique’s three-month interval, all through which they stable important collaborative partnerships.
“We hoped one or two people would stay, but all five stayed,” Cullen talked about on the end of this technique.
This program provides chosen startups with devices to broaden their duties, along with entry to world-class evaluation and development providers at KAUST.
“What we can offer them is access to the largest and most dynamic market in the entire region,” he talked about.
This program was launched at KAUST in partnership with The Next Web, a world media group that helps and connects the worldwide experience environment by means of media, conferences and innovation firms.
“We have a technology seed fund so they can apply for funding, but it’s not part of the prize,” Cullen talked about.
He added that KAUST doesn’t objective specific industrial sectors.
“We have energy, materials, and quantum computing startups so far. So, we are not specifically targeting a specific industrial sector. What we are targeting is high-potential technology startups,” talked about Cullen.
In addition to the startup program, he talked about, KAUST moreover trains potential entrepreneurs to hitch the neighborhood. Called Entrepreneurial Adventure, this revolutionary program targets Arabic-speaking youth in Saudi Arabia and previous.
According to Cullen, this technique plans to create a startup custom and equip Arab youth with the required devices to contribute to their financial system.
“Eighty percent of the content is in Arabic because we want KAUST to reach the Kingdom,” he talked about.
The enterprise was launched in 2021 by the President and CEO of Saudi Arabian Oil Co. Amin Nasser, CEO of Olayan Financing Co. Lubna Olayan and Andrew Liveris, former CEO and chairman of Michigan operations of Dow Chemical Co., Cullen added.
“We have an initial target of 10,000 Arab youths signing up for this. In one month, we had 71,000 who signed up for this and now it’s over 100,000,” he talked about.
Source : www.arabnews.com
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