Updated: Oct 2, 2022
Dammam Valley has launched the BioTech Startups Programm, in partnership with Imam Abdul Rahman bin Faisal University, Saudi Aramco, the Ministry of Investment, the Ministry of Industry, Future Investment Initiative Institute (FII), and Sadara Petrochemical Company to develop the biotechnology sector in Saudi Arabia.
The program aims to encourage the establishment of startups in biotechnology through investment, foster communication with startups in the sector around the world and enable talent to tackle existing challenges.
The BioTech Startups program will provide the qualified projects with grants amounting to $500,000, alongside training, mentorship, and investment opportunities.
Dammam Valley has launched its BioTech Startups program in partnership with Imam Abdul Rahman bin Faisal University, Saudi Aramco, the Ministry of Investment, the Ministry of Industry, Future Investment Initiative Institute (FII), and Sadara Petrochemical Company.
A first of its kind in the kingdom, the BioTech Startups Programme is designed to stimulate the establishment of startups in biotechnology and aims to foster communication with existing startups from around the world, providing vast investment opportunities, and motivating distinguished talents as they tackle existing challenges in biotechnology.
Furthermore, the program aims to transfer and localize some of the latest global technologies while developing applications in line with national biotechnology strategies, in addition to providing quality instruction and consultancy in management to train national and international cadres to invest in biotechnology.
The program falls under four stages, the registration of projects and startups, the selection of qualified projects, the development stage, and finally the final selection stage with grants amounting to $500,000, where qualifying candidates will have a chance to receive mentorship from seasoned leaders with extensive experience in business, investment, and decision-making. The latter include His Royal Highness Prince Khaled bin Alwaleed bin Talal, His Excellency Eng. Khaled Al-Falih, His Excellency Eng. Bandar Al-Khorayef, Ms Lubna Al-Olayan, and several international experts.
The program targets startups in the biotechnology field that would like to access training, investment, and market. Interested applicants can directly register at the official registration site.