24 March, 2021
KAUST and partner Saudi British Bank ( SABB) today announced the winners of the TAQADAM startup accelerator showcase. Seventy-six founders from 37 startups competed for a prize pool of over 4 million SAR in zero-equity funding during a virtual event held on March 10. Judges selected 10 winners to receive a prize valued at 375,000 SAR each. In addition, an audience of over 4,200 virtual attendees voted on a People's Choice award winner for a prize valued at 375,000 SAR.
"The graduates of the 2020 TAQADAM startup accelerator did an amazing job," said Dr. Kevin Cullen, vice president of Innovation and Economic Development at KAUST. "Eleven startups were selected to receive additional funding, but all 37 are winners. Our Saudi entrepreneurship ecosystem is developing at an incredible rate and the quality presented on March 10 was outstanding. We couldn't be prouder of all of them."
The 2020 TAQADAM startup accelerator cohort included startups from diverse industries; including eCommerce, HealthTech, EdTech and FinTech. Through three-minute pitches, the graduates presented virtually to a network of top-tier local and international investors and judges.
· People's Choice Award Winner: Tmyyoz, an online education platform for standardized test preparation
The six-month long TAQADAM startup accelerator program, which is based in Saudi Arabia at KAUST and sponsored by SABB, aims to develop early-stage entrepreneurs and their concepts into new, high-potential startups.
The competition was fierce for the 2020 cohort, as only 59 of the 561 startups that applied were accepted. Selected teams received 150,000 SAR in zero-equity grant funding. Startups use these funds to accelerate operations, grow their business and expand their teams.
Following an exceptionally successful cohort, the door is now open for applicants to the 2021 TAQADAM startup accelerator cohort, with applications closing on April 10, 2021. Startups interested in participating are encouraged to apply here. Founders based outside of Saudi Arabia are welcome to apply.
Accepted startups will receive 150,000 SAR of zero-equity funding to grow their business, be paired with expert mentors, participate in training programs and workshops to guide them in growing their business, and become part of Saudi Arabia's leading community of startups. Participating teams will also be given access to co-working and lab facilities.
In 2016, KAUST and SABB partnered to launch the first TAQADAM startup accelerator program as a way to support entrepreneurs in taking the first leap toward founding a startup. The accelerator has now graduated 126 startups and granted over 16 million SAR in zero-equity grant funding.