The university’s newest department helps SMEs gain access to deep technological resources and capabilities, with optimum utilization of the latest technologies in tackling new challenges. Addressing a virtual press conference, senior officials of KAUST SME Innovation Services said that the new services would help SMEs increase their customer base and reach new markets while diversifying [...]
The Oman Technology Fund (OTF) signed a Memorandum of Understanding (MoU) with Qatar Science and Technology Park, part of Qatar Foundation Research and Development (QF R&D), recently. The MoU, lasting for three years, focuses on venture investment. It will help in consolidating partnerships to establish an attractive investment environment in the region, stated a press [...]
The number of start-up funding deals in the UAE surged in the first half of the year following Amazon's high-profile acquisition of local online retailer Souq.com and a US$150 million investment in the ride-hailing service Careem. The rise in the number of investments also comes amid intensifying efforts by governments in the region to help small [...]
Oil and Gas Climate Initiative's (OGCI) Climate Investments fund aims to invest in and accelerate the commercial development of new emissions-reducing technology. It first announced its plan to push £1bn over 10 years into tech innovation in 2016. OGCI is the first tenant signed up at Central Working White City, a first-of-its-kind project with space [...]
Oil is so last century. With oversupply and lagging demand holding down the price per barrel, even Saudi Arabia, one of the world's largest producers of petroleum, is moving away from its dependence on crude. The Saudi government recently struck a partnership with the Japanese telecom giant SoftBank to create a massive capital fund that [...]
Most technology investors are hunting future "unicorns", as start-up ventures valued at US$1 billion or more are known. But with millions of businesses launching each year, these are proving ever elusive. Step in one new fund aimed at Middle Eastern investors, which – while certainly not promising to scout out the next Facebook – does [...]
The Saudi British Bank (SABB) and King Abdullah University of Science and Technology (KAUST) are launching the KAUST-SABB University Entrepreneur Accelerator “TAQADAM.” The program aims to help early stage university student and faculty entrepreneurs at Saudi universities develop their concepts into high-potential startups. “We believe this will significantly support the ongoing work at Saudi universities [...]
KAUST-based startup NOMADD (NO-water Mechanical Automated Dusting Device) recently closed a Series A funding round from the KAUST (King Abdullah University of Science and Technology) Innovation Fund totaling USD 1,000,000. NOMADD is a smart and ecological desert solar panel cleaning system developed at KAUST by Georg Eitelhuber, NOMADD's founder and current chief technology officer. NOMADD [...]
King Saud University (KSU) will launch a fund to support and promote scientific research in various universities across the Kingdom.Dr. Ahmed bin Salim Al-Ameri, vice rector of the KSU Graduate Studies and Scientific Research (GSSR), recently announced this during an award ceremony at the Saudi Dental Society (SDS).The function was held on the sidelines of [...]
"We share the ambition and a belief in the economic power of SMEs. It's no secret that a lot of Qatar's economy is driven by oil and gas but more and more, we see wealth created in sectors other than oil and gas, and support for SMEs from the highest levels seems to be growing [...]