Page 5 - 201905G20Entrepreneurship Newsletter

TAQADAM 3.0 Program to Promote Tech Start-ups

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.

WeWork, Alibaba Cook Up Incubation Program for Startups

Wework, the global co-working giant, teaming up with e-commerce leader
Alibaba’s cloud unit launched an incubation program targeting early-stage
startups. The pair will set up joint innovation centers and industrial cooperation
incubation funds, which is an active response to China’s constant call to
nurture innovation. As common, WeWork won’t invest in startups that set up
shop in WeWork Labs, but instead will offer office rental prices at 10% to 25%
discount. By the end of this year, the two companies will open more than eight co-
branded co-work spaces in several cities including Shanghai, Beijing, Shenzhen
ؽ൅ݓࠢ๶Էြ࿹࣮ᇏྏ
and Hangzhou. Alibaba Cloud unit will provide innovative online resources, eco-
products and other convenient services to WeWork Labs China members in all
communities. At the same time, the two parties will jointly create an international
exchange plan for members and non-member applicants, providing more
opportunities for entrepreneurs' sustainable growth and development. Roadshows
and entrepreneurship competitions are organized for WeWork Labs members.

Chief Editor: Gao Jian
Executive Editor: Shao Hong
Editor: Su Qing
E-mail: g20erc@sem.tsinghua.edu.cn
Tel: +86 10 82159850
Address: Room 1003, Building C, Technology Building Tuspark, Beijing, China 100084 Please scan the QR code
The copyright belongs to Entrepreneurship Research Center on G20 Economies, for more information.
reprint or any problem please contact us.