Sponsoring Agency: King Abdullah University of Science and Technology (KAUST)
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/10/2021
Size of the Fund: Less than USD $50,000
TAQADAM is a Saudi Arabian startup accelerator for entrepreneurs in all industries looking to rapidly grow their business. Over the course of 6-months, TAQADAM supports aspiring entrepreneurs to bring their ideas to market through mentorship and training in topics such as ideation, product design, marketing and fundraising.
Accepted teams receive grant-funding and access to co-working space across the Kingdom. At the completion of the program, selected graduates are eligible for grant-based, follow-on funding.
The Accelerator was founded in 2016 by King Abdullah University of Science and Technology (KAUST) in partnership with SABB.
TAQADAM accelerator is open to all entrepreneurs and startups from different industries. Their previous cohorts graduated startups from the following industries: Energy, Food, Water, Fintech, Retail, Digital, Cybersecurity, Tourism, Logistics, Mobility, Health, Gaming, Agriculture – and more.
How does it work?
• TAQADAM is a highly competitive startup accelerator program. They receive hundreds of applications, from which just over 150 teams are selected to advance to interviews. From these, startups are evaluated and they select up to 60 startup teams to complete a pre-accelerator bootcamp. At the end of the bootcamp, the teams are further refined, with the strongest teams chosen to continue in the program and receive 150,000 SAR funding.
• The teams then spend the next several months participating in an intensive startup accelerator environment. The mentor-led program encompasses training to help launch and scale their new ventures and bootcamps. The most promising of these startups are eligible for additional pre-seed funding from SABB and KAUST.
Benefits
Throughout the accelerator program, accepted teams receive the following:
• 150,000 SAR
• Training, pitch practice, and specialized services
• Mentorship from industry leaders
• Access to Saudi Arabia’s leading startup community
• Access to a co-working space
• Services subsidies for design, finance, legal, and more
• Saudi Arabian incorporation support for international startups
Eligibility Criteria
• TAQADAM prioritizes startups with plans to expand in Saudi Arabia.
• To be eligible to join TAQADAM, at least one team member must be able to attend all required accelerator activities.
• The accelerator requires a six months’ time commitment, which could involve startup team members to engage in the day, evening and weekend events and bootcamps.
• Founders may be required to travel to KAUST to participate in these events regularly.
• All applicants that are utilizing intellectual property need to have the correct written permission to commercialize the technologies in their startup idea from their university and/or company technology transfer office.
Entry Requirement
There must be at least two founders for each startup team.
• Applicants must not be enrolled in any other accelerator when the bootcamp commences or at any other stage during the program. There may be some exceptions to this; however, teams must obtain approval by the TAQADAM staff, which is decided on a case-by-case basis.
• There must be evidence of startup progress. This can include customer interviews, signed interest of potential clients, or anything that demonstrates that the startup is established.
• Teams must commit to the program in full, which runs from August 2021 to March 2022. At least one team member must attend all required accelerator activities, which may include daytime, evening, and weekend events and bootcamps. Founders will also be required to travel to KAUST for in-person events.
• All applicants utilizing intellectual property must have written permission to commercialize the technologies in their startup idea from their university and/or company’s technology transfer office.
More information at: https://taqadam.kaust.edu.sa/about-us/
