Saudi Technology Development and Investment Company (TAQNIA)
The Saudi Technology Development and Investment Company (TAQNIA) was established in 2011 through a royal decree with a mandate to drive the accelerated diversification of Saudi Arabia’s economy through knowledge-based industries, thereby creating value-adding jobs, and contributing to the development of the innovative ecosystem in Saudi Arabia.
TAQNIA creates value from technology through investments, partnerships, and commercialization to accelerate the diversification of the Saudi economy and to help create an innovative ecosystem in Saudi Arabia. TAQNIA will achieve its vision by investing in local and global technologies and actively engaging in their development and growth into economically sustainable organizations. To that end, TAQNIA has set three main objectives to achieve its potential economic effects:
- Transfer strategic technologies to the Kingdom.
- Create a balanced growth portfolio of investments.
- Develop Saudi talent to global standards.
In light of the Saudi Vision 2030 announced in 2016, TAQNIA has aligned its objectives to ensure its role in contributing to the national direction. These objectives have then been cascaded down to the department level and across TAQNIA’s subsidiaries to create operational objectives that TAQNIA aims to achieve by 2020.
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