Riyadh: King Abdulaziz City for Science and Technology (KACST) celebrated the graduation of 46 deep-tech startups today at 'The Garage,' the innovation incubator and accelerator, as part of the second edition of the KACST Venture Program (KVP), implemented with the support of the National Technology Development Program (NTDP).
According to Saudi Press Agency, the graduating startups represented five research and academic institutions: KACST, King Saud University, Princess Nourah bint Abdulrahman University, Prince Sultan University, and Alfaisal University, with a total of SAR6.9 million in financial support provided to the 46 startups.
The ceremony, attended by KACST President Dr. Munir Eldesouki and several leaders in research, development, and innovation, also witnessed the launch of the third edition of the KVP program. The program aims to empower research teams at Saudi universities to transform their research and innovation outputs into scalable, investment-ready startups.
KACST also launched a Venture Investment Readiness Program in strategic partnership with the Keheilan Fund. The program aims to prepare 15 startups graduating from the KVP for the venture capital stage. The Keheilan Fund will lead an investment round for one startup, while five others will undergo an intensive training track as part of the program.
KACST Senior Vice President for Innovation Parks Dr. Khalid Al-Dakkan affirmed that the KVP serves as a national platform for transforming promising research and technologies into startups with economic impact. He noted that KACST is working to build an integrated ecosystem to support entrepreneurs and connect research outputs with market needs and investment opportunities, thereby enhancing the Kingdom's competitiveness in deep technologies.
The graduation ceremony included presentations by a number of graduating startups, showcasing innovative solutions in advanced materials, biomedical technologies, green hydrogen, clean energy, cybersecurity, advanced manufacturing, autonomous vehicles, AI, radars, and 3D printing.
The KVP, which has received the Inspiring Solutions Award from the International Association of Science Parks and Areas of Innovation (IASP), is a national initiative aimed at transforming research projects into startups and bridging the gap between research outputs and market requirements. This is achieved through an integrated system of training, mentorship, and funding, thereby fostering a culture of innovation and entrepreneurship, supporting the growth of tech companies in non-oil sectors, and increasing their contribution to the national economy in line with the goals of Saudi Vision 2030.
Since its launch in 2024, the program has contributed to the graduation of 92 deep-tech startups and the licensing of six technologies to the private sector and ten to startups during the first and second editions, with the aim of maximizing the value of research and development outputs and transforming them into promising technological solutions that contribute to diversifying the national economy.
