Riyadh - Sharikat Mubasher: Beta Lab, the Saudi deep tech venture capital (VC) firm, inked a memorandum of understanding (MoU) with the Hong Kong University of Science and Technology (HKUST) to foster deep tech startups, according to the company’s recent statement.

The agreement was signed during HKUST’s Unicorn Day which showcased more than 100 products developed by startups.

Under this MoU, both parties will join efforts to develop, build, and invest in deep tech startups, providing HKUST’s homegrown startups access to global resources and markets.

HKUST signed several collaboration agreements with Chinese companies and incubator platforms as part of its strategy to deepen ties with tech-savvy cities and enter into local alumni resources.

The Unicorn Day included research sessions, investor sharing, introductions, and exchange sessions that enabled HKUST’s startups to explore cooperation opportunities and exchange opinions with potential investors and stakeholders.