King Abdullah University of Science & Technology (KAUST) recently launched the commercial accelerator "TAQADAM 3.0" program. 

The "TAQADAM" program has its aim to provide support and services to Saudi Universities' students, faculty, and graduates who want to start up their own business. It helps them successfully establish tech companies through training in business modeling, marketing, financing, and product design. 

The six-month program also serves startup companies, and the selected companies can get grants of up to 75,000 rials (about $20,000) and public work spaces. 

Since its official launch in 2016, the TAQADAM program has helped 39 companies successfully start businesses and received initial financing of more than 4.5 million rials (about $1.2 million).

The "TAQADAM 3.0" program has received 518 applications, and 42 teams with 133 members have been selected from the universities of Saudi Arabia, 35% of whom are women. 

The TAQADAM program covers a wide range of technology sectors including agricultural technology, artificial intelligence, e-commerce, energy, fashion, financial technology, gaming, and healthcare.

The person in charge of the program explained that the "TAQADAM" program has enhanced the entrepreneurial spirit and urge the government to increase the attention on commercial accelerators. Meanwhile it highlighted the role of KAUST in building a social innovation culture.