TONOMUS, the multinational conglomerate that is the first subsidiary of NEOM, announced the launch of its second venture competition, “The Next Billion,” through its TONOMUS Venture Studio at LEAP23.
The initiative invites participants to explore new technologies and innovations needed by an additional billion people to drive growth in industries such as energy, food, and mobility.
The competition aims to find ideas and ventures from various sectors that can help create cognitive cities, personalised solutions and make the best use of limited resources.
TONOMUS Venture Studio, led by Beverly Rider, is responsible for developing sustainable, disruptive solutions for NEOM’s cognitive technologies. The studio includes established and emerging entrepreneurs, VCs and C-suite executives and aims to establish NEOM and Saudi Arabia as the center of innovation and a place for the world’s top tech talent to bring their ideas to life.
Those interested in participating can get more information at https://www.tonomuscompetitions.com/
Beverly Rider, CEO of TONOMUS Venture Studio, said, “With the global population surpassing eight billion, it’s time to think about how we can proactively tackle challenges and seize opportunities to build a more sustainable future for humanity. Whether it’s re-thinking mobility, energy, and food production, or harnessing digital technologies for infrastructure and continuous improvement of the human experience, the solutions for the world’s growing cities will require the brainpower and cooperation of us all.”
The announcement follows TONOMUS’s Metaverse New Venture Competition in January, which aimed to unlock the potential of the metaverse by integrating the physical and virtual worlds across various industries, including tourism, enterprise training, e-commerce, real estate, construction, arts and culture, entertainment, and more.
The competition will accept submissions from 6 February 2023 to 12 April 2023. Up to 20 semi-finalist teams will receive expert coaching from TONOMUS Venture Studio, and the top 4 winning teams will be invited to participate in a 12-week incubation program for their ideas.
