Riyadh - Sharikat Mubasher: The Saudi investment company Beta Lab launched a $300 million fund to accelerate the growth of the Saudi startup ecosystem and connect it with global expertise.

The investment agreement was signed with the Saudi Ministry of Investment (MISA), the Research, Development, and Innovation Authority (RDIA), Hong Kong Science and Technology Park (HKSTP), and Telkom Indonesia during the eighth edition of the Future Investment Initiative (FII8).

This initiative aims to bolster a resilient technology landscape in the Middle East and North Africa (MENA) and Southeast Asia, particularly between Saudi Arabia and Indonesia, in alignment with Vision 2030’s goals.

The fund will create high-value jobs and stimulate economic growth, reflecting the commitment to fostering cross-border innovation and collaboration between two of the world’s most dynamic emerging markets.

FII8 takes place in Riyadh from 29 to 31 October, gathering world leaders, ministers, CEOs, investors, founders, and public policy experts in finance, sustainability, energy, geoeconomics, and space sectors.