Saudi Arabia establishes $250 million DeepTech venture studio in Riyadh

Key Takeaways

• Strategic Swiss-Saudi Partnership: Saudi Arabia’s Ministry of Investment has partnered with Hashgraph Association to establish the $250 million DeepTech Venture Studio in Riyadh.
• Focus on deep tech and innovation: The venture studio is dedicated to fostering innovation in deep technologies such as AI, DLT, robotics, IoT, VR, and quantum computing.
• Empowering entrepreneurs and businesses: With plans to empower more than 500 companies through corporate licensing, legal and regulatory support, and connections to key stakeholders and investors, the venture studio aims to create a conducive environment for both startups and established companies. do.
• Comprehensive support and global ambitions: The venture studio will provide a wide range of services including technical engineering, training, project delivery, product development and venture capital investment, with the ultimate goal of supporting IPO listings on Saudi exchanges.
• Saudi Arabia’s position in the global technology landscape: Managed by The Hashgraph Group, the studio’s phased approach and significant investment underlines its ambition to not only foster local innovation, but also expand its operations globally, positioning Saudi Arabia as a key player in the global technology landscape.

Swiss-Saudi strategic partnership aims to foster deep technology innovation through $250 million venture studio in Riyadh

This is an important move that highlights the growing importance of deep skills in the global economic and innovation environment. Saudi Arabian Ministry of Investment (MISA) Announced groundbreaking partnership with Switzerland-based The Company. Hashgraph Association (THA).

The collaboration, unveiled in the presence of the Swiss economic delegation to Saudi Arabia and Swiss Federal Member of Parliament Guy Parmelin, aims to establish a DeepTech Venture Studio in Riyadh. This ambitious plan is valued at: 250 million dollars From 2024 to 2028, it will become the cornerstone of the future. Saudi Arabia’s digital future And it’s wider Vision 2030 target.

DeepTech Venture Studio’s role in realizing Vision 2030

DeepTech Venture Studio It represents a strategic effort to foster innovation and entrepreneurship within Saudi Arabia and attract international companies to establish operations in the Kingdom. By focusing on cutting-edge technologies such as Artificial intelligence (AI), distributed ledger technology (DLT), robotics, Internet of Things (IoT), virtual reality (VR), quantum computingThe venture studio will be a hub for cutting-edge technology development.

Dr. Munirah Alaboudi, Director of MISA, emphasized that this initiative is consistent with Saudi Vision 2030, emphasizing the importance of human capital and innovation in building vibrant societies.

Venture Studio is designed to give you the power to: 500 companies It provides entrepreneurial licenses, facilitates integration into the Saudi legal and regulatory environment, and connects startups with key stakeholders, strategic partners and investors.

with initial investment US$50 million THA’s venture aims to attract additional co-investors to join this global venture-building studio. THA President Kamal Youssefi expressed enthusiasm about the partnership’s potential to contribute to the digital economy and support the three pillars of Saudi Arabia’s Vision 2030.

A comprehensive ecosystem for innovation at DeepTech Venture Studio

DeepTech Venture Studio’s comprehensive support structure includes: From technical engineering, training, project delivery, product development, business strategy, and IPO listing. Support for Saudi exchanges.

Managed by Switzerland-based The Hashgraph Group (THG), the initiative builds on the success of Hashgraph’s innovation program and aims to expand its reach and impact.

The venture studio’s phased approach will ensure systematic development, starting with scaling local operations and onboarding the first 100 projects. The subsequent phase will focus on helping startups and companies receive significant venture capital investment to accelerate the studio’s activities and expand its operations globally.

Additionally, partnership features include: Cross-border “Entrepreneurship Exchange Program” Promotes knowledge sharing between Swiss and Saudi entrepreneurs. This initiative not only strengthens the technology and innovation relationship between the two countries, but also demonstrates the global nature of the digital economic future.

Interested applicants, partners and investors can register their interest at the DeepTech Venture Studio https://hashgraph-saudi.com/ registration webpage.

The Swiss-Saudi collaboration demonstrates the transformative power of deep tech as the venture studio begins recruiting a team of more than 40 experts and forms partnerships with leading technology companies and academic institutions. By leveraging the expertise and innovation ecosystem of both countries, Riyadh’s DeepTech Venture Studio will empower the next generation of Web3 entrepreneurs and position Saudi Arabia as a leading hub for digital innovation and technological advancement.

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