Technology

Revolutionizing Saudi Arabia’s Tech Landscape: Unleashing the Power of Hashgraph (HBAR) with a $250M Innovation Boost!




The Hashgraph Association and Saudi Arabia’s Ministry of Investment Launch $250M DeepTech Venture Studio in Riyadh

The Hashgraph Association and Saudi Arabia’s Ministry of Investment Launch $250M DeepTech Venture Studio in Riyadh

The Hashgraph Association and Saudi Arabia’s Ministry of Investment have partnered to launch the DeepTech Venture Studio in Riyadh. With a five-year agreement worth $250 million, this collaboration aims to support over 500 companies in developing advanced AI, blockchain, and VR solutions.

The DeepTech Venture Studio, managed by The Hashgraph Group, is designed to become a hub for technological innovation in Riyadh. It signifies Saudi Arabia’s commitment to diversifying its economy and embracing technological advancements. Through this initiative, the Hashgraph Association aims to stimulate growth in the technology sector, leading to significant breakthroughs across various industries.

In addition to technical engineering, training, and certification, the DeepTech Venture Studio will offer support in product development, business strategy, commercialization, marketing, legal and regulatory compliance, and venture capital investments. It will also provide IPO listing support on the Saudi Exchange (“Tadāwul”).

This partnership reflects a mutual commitment to investing in the digital future and contributes positively to the three pillars of Saudi Vision 2030, aiming to foster a thriving digital economy in Saudi Arabia. The initial phase of the Venture Studio will focus on ramping up local operations and onboarding the first batch of 100 projects, with subsequent phases aimed at accelerating and scaling up operations both locally and globally.

Overall, the DeepTech Venture Studio represents a significant step forward in Saudi Arabia’s efforts to become a leading hub for fintech and technological innovation. It aligns with the broader economic diversification and innovation strategy of the Kingdom.

Image source: Shutterstock


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