• Saudi fund and studio specialising in deeptech Beta Lab has kicked off with a capital of $300 million on the first day of the Future Investment Initiative (FII) 2024. 
• The fund aims to support the growth of startups and foster cross-border innovation between the Middle East and Southeast Asia.
• Beta Lab represents a strategic partnership between several influential entities in the fields of innovation and investment, including the Saudi Ministry of Investment, the Research, Development, and Innovation Authority, the Hong Kong Science and Technology Parks Corporation (HKSTP), and MDI Ventures by Telkom Indonesia. 

Source: EntArabi

Beta Lab, a fund and studio specialising in deep tech, was launched with a capital of $300 million on the first day of the Future Investment Initiative (FII) 2024. The fund aims to support the growth of startups and foster cross-border innovation between the Middle East and Southeast Asia, empowering companies to expand their operations and create new opportunities in some of the world’s most dynamic markets.

Beta Lab represents a strategic partnership between several influential entities in the fields of innovation and investment, including the Saudi Ministry of Investment, the Research, Development, and Innovation Authority, the Hong Kong Science and Technology Parks Corporation (HKSTP), and MDI Ventures by Telkom Indonesia. This partnership aims to activate the fund’s role in supporting entrepreneurs and promoting technological solutions that help address market challenges and meet evolving needs.

The fund seeks to finance technology-focused startups, whether in early or advanced stages, to support their projects and enable rapid growth. It also provides support to companies developing innovative solutions to address challenges in various sectors, such as fintech, digital health, artificial intelligence, and smart mobility.