Riyadh, January 09, 2025 – The King Abdulaziz City for Science and Technology (KACST) marked a significant milestone on Wednesday with the graduation of 46 deep-tech startups from its KACST Venture Program (KVP). The program, which took place at The Garage, KACST’s innovation hub, has been a crucial platform for fostering entrepreneurship and innovation in Saudi Arabia's rapidly growing technology sector. This achievement is a testament to the Kingdom’s commitment to advancing its deep-tech ecosystem, which is integral to the goals of Saudi Vision 2030.
The graduation ceremony, a culmination of months of training, mentorship, and development, was attended by a distinguished gathering of KACST leadership, dignitaries, research and innovation experts, entrepreneurs, and investors. The event was graced by Dr. Munir bin Mahmoud El-Desouki, President of KACST, who praised the graduates for their dedication and innovation throughout the program. He emphasized that the successful completion of the program marks not only the individual achievements of these startups but also a key step in driving Saudi Arabia’s broader technological and economic transformation.
In his keynote address, Dr. Khalid Bin Abdelrahman Al-Dukkan, the Supreme Vice President of the Innovation Sector at KACST, highlighted the critical role that KACST plays within the Kingdom’s national innovation framework. He pointed out that the KACST Venture Program is designed to bridge the gap between promising technological ideas and market-ready products, ensuring that Saudi startups have the necessary support to thrive. Dr. Al-Dukkan also underscored the importance of collaboration between the government, private sector, and investors in transforming innovative projects into viable businesses that can make a tangible impact on the national economy.
The KACST Venture Program, supported by the National Technology Development Program (NTDP), has been instrumental in nurturing the next generation of deep-tech entrepreneurs. The program provides participating startups with access to state-of-the-art facilities, mentorship from industry leaders, and funding opportunities to help them scale their businesses. These efforts align with the Kingdom’s broader strategy to diversify its economy, reduce reliance on oil, and build a sustainable, knowledge-based economy.
The 46 startups graduating from the program represent a diverse range of sectors, including artificial intelligence, robotics, biotechnology, renewable energy, and cybersecurity. Many of these startups have already made notable progress in turning their innovative ideas into commercially viable products. The program’s emphasis on practical, hands-on experience and collaboration with key stakeholders has been key to their success. As these startups now enter the next phase of their development, they are poised to contribute significantly to the growth of the Kingdom’s digital economy.
KACST’s efforts go beyond simply incubating startups—they are helping to build an ecosystem that fosters innovation, encourages collaboration, and accelerates the commercialization of advanced technologies. The initiative exemplifies Saudi Arabia's commitment to positioning itself as a global hub for technological innovation. By equipping entrepreneurs with the skills, resources, and networks they need to succeed, KACST is not only advancing the Kingdom’s strategic vision but also creating opportunities for young innovators and contributing to the diversification of the economy.
The KVP graduation ceremony also highlighted the growing synergy between the Kingdom’s research institutions, the private sector, and venture capitalists. This collaborative approach is helping to create a robust startup ecosystem that can drive economic growth, job creation, and sustainable development across various industries. With continued investment in research and innovation, Saudi Arabia is set to become a major player in the global deep-tech sector.
As the graduates of the KACST Venture Program move forward with their entrepreneurial endeavors, KACST, in partnership with NTDP and other stakeholders, will continue to support them in scaling their innovations and bringing them to global markets. The success of this program underscores the Kingdom's growing technological prowess and its determination to harness innovation as a catalyst for long-term economic growth.
