$300 million Beta Lab Fund launches to back Saudi, Asian deeptech startups
- The Beta Lab Fund, with a capital of $300 million, was launched on the first day of the Future Investment Initiative (FII) 2024, focusing on deep tech ventures.
- The fund aims to foster growth and cross-border innovation between startups in the Middle East and Southeast Asia.
- Beta Lab is a collaboration involving key entities such as the Saudi Ministry of Investment, the Research, Development, and Innovation Authority, and the Hong Kong Science and Technology Parks Corporation.
- It is designed to support technology startups at both early and advanced stages, focusing on sectors like fintech, digital health, artificial intelligence, and smart mobility.
- The initiative seeks to address market challenges by promoting innovative technological solutions and enhancing entrepreneurial opportunities.
$300 million Beta Lab Fund launches to back Saudi, Asian deeptech startups
- 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.
Based on the provided information, here is a summary of the funds, investors, startups, founders, and fundraising series associated with the Beta Lab Fund:
Fund:
- Name: Beta Lab Fund
- Amount: $300 million
- Focus: Deeptech startups, technology-focused companies
Investors/Entities Involved:
- Saudi Ministry of Investment
- Research, Development, and Innovation Authority
- Hong Kong Science and Technology Parks Corporation (HKSTP)
- MDI Ventures (Telkom Indonesia)
Target Startups:
- Focus on technology-focused startups, including those in:
- Fintech
- Digital health
- Artificial intelligence
- Smart mobility
Founders:
- The article does not specify individual founders of the fund, as it highlights partnerships and entities rather than individual leadership.
Fundraising Series:
- The fund has been launched with a capital of $300 million as part of its first initiative, but there is no specified fundraising series mentioned in the article.
Additional Information:
- Launch Date: First day of the Future Investment Initiative (FII) 2024
- Purpose: Support the growth of startups and foster cross-border innovation between the Middle East and Southeast Asia.
This is a comprehensive outline based on the provided article excerpt. No specific startups or individual founders were mentioned in the text provided.