Beta Lab, a venture capital and co-creation studio for startups focusing on deep technology, has launched in Saudi Arabia. The studio’s mission is to help entrepreneurs turn their innovative ideas into successful businesses by providing a range of services, including product development, business development, capital, and more. Beta Lab is backed by a number of partners, including the Saudi Ministry of Investment, Future Investment Initiative Institute (FII), KBW Ventures, and several global partners. The studio’s team of experienced professionals will work closely with each startup to help them navigate the unique challenges of the startup lifecycle.
The launch of Beta Lab aligns with Saudi Arabia’s Vision 2030, which aims to diversify the economy and support the growth of innovative startups. “We are confident that the studio’s focus on deep technology will bring significant value to the kingdom’s startup ecosystem and help drive economic growth,” said the Minister of Investment, Khalid Al-Falih.
Beta Lab’s CEO, Abdulrahman Alolayan, expressed his excitement about the launch, saying, “Deep tech has the potential to change the world in countless ways, and we believe that by providing the resources and support that these startups need, we can help them achieve their full potential.”
Founder and CEO of KBW Ventures, Prince Khaled bin Alwaleed bin Talal Al Saud, praised the country’s strong and ever-growing investment infrastructure and discussed his optimism for Beta Lab’s launchpad. As the region’s first venture capitalist to invest in deep technology startups, Prince Khaled will support Beta Lab’s cohorts with his considerable industry expertise and background in the sector. Overall, Beta Lab’s launch represents a significant step forward for Saudi Arabia’s startup ecosystem, as it aims to drive innovation, diversify the economy, and support the growth of deep technology startups in the region.
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