There are many stages in the life of an idea. Scaling innovation is about moving a promising idea along the pipeline from initial conception to market launch faster and more efficiently. In 2021, KAUST Innovation successfully scaled the speed of this process and quality of innovations by focusing on five key areas of impact:
Learning about industry problems
We’ve created a network to identify and share ideas by partnering with industry. In 2021, we signed seven new industry partnerships and our KAUST Industry Collaboration Partnership expanded this network by adding three new members.
Developing world-changing technology
Through our Technology Transfer Office, we work with industry to identify ideas that can help them compete and grow. We then help KAUT scientists develop their research into viable products, get those ideas to market, and provide impact-focused funding to make it all happen. We’ve developed 48 new technology products in the past two years, with more and more ground-breaking technology making an impact in Saudi Arabia and the world.
Training entrepreneurs and SMEs
Entrepreneurship is the new math. It is a skill that must be learned and mastered for any new business to succeed. This year, our Entrepreneurship Center and SME Innovation Team hosted more workshops and trained more people than ever before.
Growing successful businesses
Our TAQADAM Accelerator provided over $1.6 million in non-equity funding to participants, with a new class of 60 promising startups set to start their journey soon. A further $7.9 million was invested in startups through our Innovation Ventures deep tech fund.
Providing a home for deep tech
We continue to add to our Research and Technology Park and procure additional, unique spaces — like sections of the Red Sea — so that our researchers and founders have room and resources to create and innovate.
We are focused on fostering technology and innovation that positively impacts the Kingdom and the world. To learn more about how we are driving change, please read our 2021 Annual Report: https://innovation.kaust.edu.sa/annual-report/2021