Beta Lab, a venture capital firm and co-creation studio dedicated to supporting deep technology startups, has launched in Saudi Arabia with the backing of the Saudi Ministry of Investment, the Future Investment Initiative Institute (FII), KBW Ventures and several global partners.
Beta Lab will offer a range of services to help entrepreneurs transform their innovative ideas into thriving businesses. These include product and business development, access to capital and other forms of support. The company’s team of experienced professionals will work closely with each startup to help them overcome the unique challenges associated with the startup lifecycle.
“The launch of Beta Lab is aligned with Saudi Arabia’s Vision 2030, which seeks to diversify the economy and support the growth of innovative startups”, said Khalid Al-Falih, the Minister of Investment. “We are confident that Beta Lab’s focus on deep technology will add significant value to the kingdom’s startup ecosystem and drive economic growth”.
Abdulrahman Alolayan, CEO of Beta Lab, said, “We are excited to launch Beta Lab and contribute to the future of the startup ecosystem in Saudi Arabia and the wider region. Deep technology has the potential to revolutionize the world in countless ways and we believe that by providing the resources and support that these startups need, we can help them reach their full potential”.