Beta Lab, a venture capital and co-creation studio dedicated to fostering deep technology startups, has launched in Saudi Arabia with the support of the Saudi Ministry of Investment, Future Investment Initiative (FII) Institute, KBW Ventures, and a number of other global partners.

Led by CEO Abdulrahman Alolayan, Beta Lab is set to provide a range of services in the realms of product development, business development, capital, and more, to help entrepreneurs turn their innovative ideas into successful businesses. In addition, the studio’s team of experienced professionals will work closely with each startup to help them navigate the unique challenges of the startup lifecycle.

“We are excited to launch Beta Lab, and to play a role in shaping the future of the startup ecosystem in Saudi and the region,” said Alolayan, who was also the Founding CEO of Taibah Valley and Dammam Valley. “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.”

Beta Lab’s launch in Riyadh saw the attendance of a range of dignitaries from the KSA ecosystem including H.E. Khalid Al-Falih, Saudi Arabia Minister of Investment, Rakan Tarabzoni, COO of FII Institute, and KBW Ventures founder and CEO HRH Prince Khaled bin Alwaleed, who is known as the region’s first venture capitalist to invest in deep technology startups.