Hong Kong Science and Technology Parks (HKSTP) and Saudi Arabia’s Beta Lab signed a partnership during the Future Investment Initiative (FII) summit in Riyadh.

This agreement aims to support fintech startups by granting access to a US$300 million investment fund.

Under the agreement, Hong Kong-based startups can secure funding and offer expertise in artificial intelligence, biotechnology, and green technology.

This aligns with Saudi Arabia’s goals of diversifying its oil-dependent economy.