Established in June 2011 by Royal Decree (M/47) based on council of ministers resolution (217), TAQNIA is as a 100% PIF-owned company mandated to invest and commercialize the R&D output from various research institutions locally and globally. TAQNIA could also commercialize output from universities and other individual initiatives, and transfer technologies into Saudi Arabia on commercial basis in different strategic sectors including energy, oil and gas, water, petrochemicals, nanotechnologies, biotechnologies, information technologies, telecommunication, electronics, space, environment, security, advanced industries.

TAQNIA seeks to be a major player in the Kingdom’s ecosystem development, by supporting and investing in suitable local and international R&D that would fuel the growth of selected technologies that have been deemed to be strategic for the nation sustained economic growth, and its self-reliance and leadership.