Riyadh – Sharikat Mubasher: The Ministry of Energy announced the opening of registration for “TAQAtech,” a specialized business accelerator in the energy sector aimed at fostering innovation and accelerating the growth of startups across diverse energy fields.

 The initiative seeks to strengthen the national economy and support the broader innovation ecosystem within this vital industry, as per the Ministry’s announcement on X.com.

Supervised by the Ministry, TAQAtech will host three cohorts of 20 startups each over the next three years. The program will run for a period ranging between six and twelve months and will progress through three main phases: exploration and selection, acceleration, and demo and investment day.

The accelerator focuses on several innovation and technology areas within the energy sector, such as direct air carbon capture, carbon utilization and storage, clean hydrogen technologies, artificial intelligence applications in energy, and social entrepreneurship. It also covers other emerging fields related to the energy transition.

TAQAtech offers a wide range of support services, including co-working spaces, training workshops, personalized mentorship from local and international experts, access to investors, and financial grants for outstanding projects.