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SAB Offers SAR 2.5M for “TAQADAM” Programs Winners

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SAB has offered cash prizes to the winning teams in the second version of “TAQADAM” Program to support undergraduate projects, for a total amount of SAR 2.5M, which took place during the closing ceremony held recently at King Abdullah University of Science and Technology to crown the winners.

Each of the six winning teams have won an amount of SAR 375,000, in addition to three other awards were awarded to a number of participating teams. These cash prizes will be the real catalyst for the transition from ideas to implementation and work to build startups.

“TAQADAM” Program, in cooperation with KAUST, is an example of SAB major initiatives in support of the Kingdom's Vision 2030 and a model for the Bank's aspirations to help and support the SME sector as one of the Kingdom's major factor for economic development. SAB involvement stems from its strong belief in its social responsibility. SAB is committed to support the youth and contribute to build a promising generation capable of leading the country's future in various fields of business, industry, knowledge and technology.

"TAQADAM" program has received many initiatives. 24 initiatives have been selected by a panel of experts and specialists. According to the program plan, each team received financial support, as well as providing members of the selected teams with scientific expertise and practical skills by engaging them in various workshops for six months. Further tests were conducted to evaluate the work of each team. Six teams of entrepreneurs were selected and crowned as champions of the second version of the program to receive the Grand Prize, which is additional funding to turn their ideas and initiatives into promising projects.

It is worth mentioning that the “TAQADAM” program was launched during 2016, and the first version of the program achieved the desired success, by enabling the winning teams in that version of effectively and properly launching their project. The program plans to open applications for the third version at the end of this year