Riyadh - Sharikat Mubasher: The King Abdullah University of Science and Technology (KAUST) startups have raised more than $1 billion in total investments to date, generated $925 million in revenue, and created 6,661 jobs.
In 2024, KAUST’s portfolio companies collectively secured $150 million, a milestone that reflects the growing investor confidence in Saudi Arabia’s innovation ecosystem, the university announced in a press release yesterday.
These achievements were celebrated at SPECTRUM 2025, KAUST Innovation Ecosystem’s flagship startup and investor event in Riyadh, organized in partnership with Wa’ed Ventures, 500 Global, Antler, Impact46, and The Garage (KACST).
Ian Campbell, Senior Vice President of the KAUST National Transformation Institute, commented: “Crossing the $1 billion investment threshold is more than a milestone; it is proof that Saudi deep tech is globally competitive. Through KAUST Innovation Ventures, we are transforming world-class research into world-class companies, advancing Vision 2030 by empowering entrepreneurs, creating jobs, and attracting global investment.”
The KAUST Innovation Ventures strategy focuses on co-investments with both local and international venture capital firms, supporting global translation of KAUST’s high-impact technology. Two examples of startups scaling internationally include Rimrubber, which now offers on-demand tire sales and fitting in Saudi Arabia, Bahrain, Qatar, and the UAE, and iStoria, which enables non-native speakers to learn English in Europe, Latin America, and the Middle East.
Meanwhile, Haitham Alhumsi, Director of the KAUST Innovation Ecosystem, said: “Our ecosystem proves that when science meets entrepreneurship, real economic transformation follows. The impact of KAUST startups goes far beyond funding: they’re building industries, jobs, and global connections that will define the next decade of Saudi innovation.”
SPECTRUM 2025 hosted 29 startups and 40 leading venture capital firms from around the world, and gathered top accelerators, global venture capital firms, and high-growth startups to drive funding, forge partnerships, and expand Saudi Arabia’s footprint in global innovation markets.