King Abdullah Bin Abdulaziz Science Park (KASP) was established in 2002 in
affiliation to the King Fahd University of Petroleum and Minerals. The
first of its kind in the Middle East, KASP is an ambitious initiative
to accelerate technological innovation and development in the region through
the combined synergism of Industry and University. Its purpose is the
creation and growth of a highly collaborative research and learning environment
between the industry and university through the shared utilization of
resources, joint research programs, and the exchange and transfer of technology.
Besides this mutual relationship between the university and established companies, the science park will promote local and regional private startup enterprises and entrepreneurs through its incubation program. In addition to providing land and infrastructure, KASP provides unique opportunities and growth incentives for these start-up companies through specialized growth environments. At present, the Park houses firms mainly involved in the regional petroleum and chemical industry as well as in the IT industry, both of which are major strengths of KFUPM.
Besides this mutual relationship between the university and established companies, the science park will promote local and regional private startup enterprises and entrepreneurs through its incubation program. In addition to providing land and infrastructure, KASP provides unique opportunities and growth incentives for these start-up companies through specialized growth environments. At present, the Park houses firms mainly involved in the regional petroleum and chemical industry as well as in the IT industry, both of which are major strengths of KFUPM.
