Startup Wrap – Saudi VCs pour capital into ventures through strategic investments

Saudi Arabia’s new deeptech venture studio, Beta Lab, launched with $300 million in capital at the Future Investment Initiative.

The outfit aims to bolster startups and promote cross-border innovation between the Middle East and Southeast Asia.

This strategic initiative is backed by the Saudi Ministry of Investment, the Research, Development, and Innovation Authority, the Hong Kong Science and Technology Parks Corporation, and MDI Ventures by Telkom Indonesia.  

Beta Lab is expected to catalyze growth in the deep tech sector through significant investments and collaborative partnerships.  

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https://www.arabnews.com/node/2577673/business-economy

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