Saudi Arabia-Based Dammam Valley Launches BioTech Startups Program Aimed at encouraging the establishment of more biotechnology startups in Saudi Arabia, BioTech Startups Program will also work towards fostering ties with other global startups.

By Entrepreneur Middle East Staff Edited by Tamara Pupic

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Saudi Arabia-based biotechnology and healthcare investment company Dammam Valley has launched its BioTech Startups Program in partnership with Imam Abdul Rahman bin Faisal University, Saudi Aramco, Future Investment Initiative Institute (FII), and Sadara Petrochemical Company, as well as Saudi Arabia's Ministry of Investment and Ministry of Industry.

Created with an aim to encourage the establishment of more biotechnology startups in Saudi Arabia, the BioTech Startups Program is also set to work towards fostering ties with other global startups, providing opportunities for investments, and encouraging local talent pool towards tackling issues in the biotechnology ecosystem.

The BioTech Startups Program will further look to obtain latest technologies from across the world that can aid in building applications that are in line with the national biotechnology strategies, while also providing management consulting and training for national and international cadres interested in the industry.

Source: Dammam Valley

The program has been designed in four stages: a registration stage where projects and startups sign up for the event, a selection stage where qualified projects are chosen for further participation, a development stage for the chosen projects to be defined and improved, and a final selection stage where grants worth a total of US$500,000 will be awarded.

The fourth and final stage will also enable the candidates to receive mentorship from ecosystem leaders who are experienced in the fields of business, investment, and decision making. Among the expected mentors are HRH Prince Khaled bin Alwaleed bin Talal, founder and CEO of KBW Investments, H.E. Eng. Khaled Al-Falih, Saudi Arabia's Minister of Investment, His Excellency Eng. Bandar Al-Khorayef, Saudi Arabia's Minister of Industry and Mineral Resources, and Lubna Al-Olayan, CEO of Olayan Financing Company.

Interested applicants can directly register at the official site here.

Related: KAUST's Ideation Challenge Sees Students Present Solutions To Tackle Issues Related To Water, Aviation, And The Hajj Experience
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