• The Saudi Ministry of Energy launched the Taqatech Accelerator with The Garage to foster innovation and economic growth in energy.
• The program supports startups enhancing energy efficiency, sustainability, local content, and infrastructure resilience across Saudi Arabia’s energy sector.
• Over three years, Taqatech will accelerate 60 startups through mentorship, pilot projects, and investment opportunities across four program phases.

Taqatech Accelerator 

The Saudi Ministry of Energy launched the Taqatech Accelerator program in collaboration with The Garage, a Riyadh based startup and innovation hub.

This is in alignment with the ministry’s efforts to foster innovation in the sector, and promote economic growth. In addition to enhancing environmental sustainability, and generating job opportunities. Moreover, these efforts aim to support entrepreneurial ventures that contribute economic diversification, technology localization, and local content development.

The accelerator is developed in partnership with energy companies, universities and specialized research centers. Furthermore, it is designed to be a high-impact initiative that strengthens partnership between startups, entrepreneurs and government entities. 

Energy

Taqatech offers a comprehensive support model, providing mentorship across technical and technological aspects, while also connecting startups with investors. This aims to strengthen the role of the private sector in driving innovation and enabling growth within the energy sector.

It will support startups that promote economic development through innovations that enhance energy efficiency, reduce costs, and promote local content. As well as promote economic diversification through developing local energy solutions and generating job opportunities. 

Additionally, the accelerator aims to empower startups with a focus on emissions reduction, environmental sustainability, clean energy, and technologies. As well as those that contribute to energy security and supply reliability by enhancing energy infrastructure and improving supply chain resilience.

The program aims to support three cohorts of startups over three years, with 20 startups in each cohort. Its implementation will take across four main phases lasting 6 to 12 months. These phases are exploration and selection, acceleration, pilot projects implementation, and investment rounds.