The Hashgraph Association announces major strategic partnership with the Ministry Of Investment Of Saudi Arabia

The Hashgraph Association announces major strategic partnership with the Ministry Of Investment Of Saudi Arabia

- This partnership will enable the next generation of Web3 entrepreneurs and the convergence of technologies such as Artificial Intelligence (AI), Distributed Ledger Technology (DLT), Virtual Reality (VR), Robotics, and Quantum Computing

Riyadh, Saudi Arabia - The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, has today announced during the Swiss Economic Mission to Saudi Arabia in the presence of the Swiss Federal Councillor, Guy Parmelin, the signing of a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a “DeepTech Venture Studio” in Riyadh worth $250M USD over five years (2024-2028).

As part of the Swiss Economic Delegation traveling to Saudi Arabia under the patronage of Guy Parmelin, Head of the Department of Economic Affairs, Education and Research (EAER), The Hashgraph Association will launch a custom-designed DeepTech Venture Studio to enable local Saudi companies, as well as international portfolio companies seeking to establish operations in the Kingdom, to develop innovative solutions, leveraging deep tech such as AI, DLT, Robotics, IoT, VR, and Quantum Computing.

Dr. Munirah Alaboudi, General Manager, Human Capital & Innovation at the Ministry of Investment of Saudi Arabia, said: “The Ministry of Investment welcomes the launch of a DeepTech Venture