Saudi Arabia-Based Beta Lab Launches The 2024 DeepTech Startups Program Through strategic partnerships and a keen focus on the future of technology, the 2024 DeepTech Startups Program is expected to nurture talent and foster innovation within the Kingdom.
By Entrepreneur Middle East Staff Edited by Aby Thomas
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Beta Lab, a Saudi Arabia-based venture capital (VC) and co-creation studio that supports deep technology startups, has partnered up with the Kingdom's Ministry of Investment, the Future Investment Institute (FII), a global nonprofit foundation, and KBW Ventures, a UAE-based VC-focused asset management company, to launch the 2024 edition of its DeepTech Startups Program.
Open to entrepreneurs in the deep tech space, including biotech, foodtech and artificial intelligence (AI), the program is designed to offer mentorship from renowned industry experts including HRH Prince Khaled bin Alwaleed bin Talal, founder and CEO of KBW Investments; H.E. Eng. Khaled Al-Falih, Saudi Arabia's Minister of Investment; and Salwa Akhannouch, founder and CEO of Aksal Holding, among others.
Source: Beta Lab
The 2024 DeepTech Startups Program will also enable wider market access for its participants' businesses, and open opportunities for investments. Additionally, the program will offer management consulting and specialized training for both national and international professionals keen on exploring long-term opportunities within deep tech industries.
The 2024 DeepTech Startups Program has been demarcated into four stages, with the first one being the registration process. The second stage will involve a rigorous selection process wherein projects with the potential for significant impact and development will be identified. The next stage of the program will see an intensive development framework being adopted to finetune and enhance the selected business ideas. The fourth and final stage, which will include a final evaluation of the ideas, will lead to grants up to US$1,000,000 being offered to the most promising ventures. This fourth stage will also incorporate mentoring sessions from the aforementioned mentors.
Through strategic partnerships and a keen focus on the future of technology, the 2024 DeepTech Startups Program is expected to nurture deep tech talent within the Kingdom, while also forging a pathway for innovative solutions and entrepreneurial success in the global arena.
