Beta Lab launches in Saudi Arabia to promote homegrown deep tech startups

Beta Lab, a venture capital and co-creation studio for deep tech startups, has launched in Saudi Arabia, in partnership with the Saudi Ministry of Investment, KBW Ventures, Future Investment Initiative Institute (FII), and other global partners.

The studio aims to attract startups, global talent, and founders to Riyadh, and work on the country's strategy to become a regional hub for global talent and foster the local potential with a homegrown launchpad.

As per Fast Company Middle East, the studio is open for early-stage startups till pre-Series A.

This new studio will provide a range of services, including capital, product development, and business development, among others, which will help entrepreneurs turn their innovative ideas into successful businesses, a statement shared by Wamda said.

"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 Abdulrahman Alolayan, CEO of Beta Lab.

“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,” he added. 

A team of experienced professionals will help each startup to navigate the unique challenges of the startup lifecycle. Startups and entrepreneurs from across the world can apply to be a part of the studio. The applications will be open till the end of July for founders to showcase their startups.