Saudi Arabia’s Ministry of Energy has launched the “Taqatech Accelerator” program in collaboration with “The Garage” as part of its efforts to drive innovation in the sector, promote economic growth, enhance environmental sustainability, and create job opportunities. These initiatives support entrepreneurial ventures that contribute to economic diversification, technology localization, and local content development. The launch took place in the presence of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and Minister of Communications and Information Technology Abdullah Alswaha, the Saudi Press Agency (SPA) reported.
Developed in partnership with leading energy companies, universities, and specialized research centers, the program is designed to be a high-impact initiative that strengthens strategic partnerships between startups, entrepreneurs, and government entities. It offers a comprehensive support model, providing mentorship across technical and technological aspects, while also connecting startups with investors—all aimed at strengthening the role of the private sector in fostering innovation and enabling growth within the energy sector.
Enhancing energy efficiency and local content
The accelerator supports startups that promote economic development through innovations that enhance energy efficiency, reduce costs, and encourage local content and economic diversification by developing local energy solutions and creating job opportunities. It also backs startups that reinforce the Kingdom’s leadership in global energy markets, positioning Saudi Arabia as a hub for emerging energy technologies. Furthermore, the accelerator empowers startups focused 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. Implementation will occur across four main phases lasting 6 to 12 months: exploration and selection, acceleration, pilot projects implementation, and investment rounds.
