Riyadh - Sharikat Mubasher: The Saudi Ministry of Energy launched the ‘Taqatech Accelerator’ program, in partnership with The Garage, to support entrepreneurs and drive innovation in the energy sector.

The program aims to promote economic growth, enhance environmental sustainability, and create job opportunities, the ministry unveiled in a recent statement.

The launching ceremony was attended by the Minister of Energy, Abdulaziz Salman, and the Minister of Communications and Information Technology, Abdullah Al-Swaha.

Launching the Taqatech Accelerator program highlights the ministry’s efforts to foster entrepreneurial ventures that contribute to economic diversification, technology localization, and local content development.

The accelerator targets supporting three cohorts over the next three years, with 20 startups in each cohort. The program will be implemented across four main phases spanning 6 to 12 months: exploration and selection, acceleration, pilot projects implementation, and investment rounds.

Taqatech Accelerator was developed in collaboration with leading energy companies, universities, and specialized research centers to strengthen strategic partnerships between startups, entrepreneurs, and government entities. It offers an inclusive support model, provides mentorship across technical and technological aspects, and connects startups with investors, aiming to reinforce the private sector’s role in enabling growth within the energy sector.

Moreover, the Taqatech Accelerator program aims to empower startups that focus 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.