KAUST hosts 2015 Arabian Tech Tour
Tristan Walker, deputy vice president of Innovation & Economic Development at KAUST, talks during the 2015 Arabian Tech Tour.
Earlier this month, KAUST hosted the 2015 Arabian Tech Tour—the first regional version of the international event for leading venture capitalists, high-tech entrepreneurs and industry, and government influencers.
“We live in a world where things are happening in a much more chaotic and non-linear way,” said KAUST President Jean-Lou Chameau. “It is common to see universities, corporations, startup companies, investors and public organizations interact around innovation and economic development.”
The event is part of ongoing efforts by the University's Innovation Fund to support high-tech startups in the Kingdom and introduce them to local and international investors, as well as encourage top-quality emerging companies from around the globe to establish their activities in Saudi Arabia.
Fostering innovation and economic development in the Kingdom
“We provide an environment at KAUST where people can pursue a good mix of curiosity and more goal and mission-oriented research,” said Chameau. “We see ourselves as playing a major role in fostering innovation and economic development within the Kingdom, and around us, with different partners.”
In addition to supporting startups and entrepreneurs through its incubation and acceleration programs, KAUST is an active investor in startups and early-stage technology companies through the Innovation Fund.
The fund makes venture capital investments from seed to early-stage in promising technology companies in Saudi Arabia and becomes a long-term partner, providing strategic guidance and operational support.
“Our mission at KAUST is to work with others to be a catalyst for innovation, economic development and social prosperity in the Kingdom. We want to create high-value jobs in the Kingdom and ideally fill those with some of our graduates,” said Tristan Walker, deputy vice president of Innovation & Economic Development at KAUST. “We aim to attract knowledge-based industries to the Kingdom to partner with us, collaborate with our startups and help catalyze the economy.”
Partnering with innovators across the region
This year’s Tech Tour attracted talent from across the region and included entrepreneurs from a variety of fast-growing sectors such as renewable energy, clean tech and digital health. Fifty early-stage companies from 15 different countries were selected to present their pitches to over 100 representatives from global investment and venture capital firms and corporate venture organizations. Total assets under management of attending investors are estimated at around $10 billion.
“Sponsoring these kinds of events that allow high-profile entrepreneurs to pitch to international and local VCs is strategic for us,” said Nicola Bettio, head of the KAUST Innovation Fund and president of the Tour’s Selection Committee. “KAUST is very excited to host Tech Tour and to contribute to the growth of the venture capital ecosystem in the Kingdom.”