RELEASE: The new TONOMUS Venture Studio launches a metaverse contest to solve the world's greatest challenges

(Information sent by the signatory company).

RELEASE: The new TONOMUS Venture Studio launches a metaverse contest to solve the world's greatest challenges

(Information sent by the signatory company)

LAS VEGAS, Jan. 6, 2023 /PRNewswire/ -- TONOMUS Venture Studio kicked off today with the announcement of a new metaverse-focused entrepreneurship contest. The Study is the driving force behind the creation and investment of TONOMUS companies, the first subsidiary of NEOM and a multinational cognitive conglomerate that promotes the world's first ecosystem of cognitive technologies. The TONOMUS Venture Studio is tasked with building a portfolio of companies using a Silicon Valley-influenced methodology and orientation. It will also build global talent capacity and launch a new generation of entrepreneurs.

The Metaverse New Venture Competition is the first in a series of contests. The start-up competitions are a crucial element of the Firm's strategy to foster global entrepreneurship and develop companies and investments that care for the environment, create new ways of living in community and develop cognitive technologies in a wide range of sectors to empower to humanity.

Beverly Rider, CEO of TONOMUS Venture Studio, said, "We are at the tip of the iceberg for how we can harness the metaverse to solve current and future problems. We will need tremendous collaboration and ingenuity, ideas and perspectives from everyone and everywhere, a new generation of entrepreneurs and truly pioneering technologies, some of which have not even been contemplated yet. There are entirely new industries waiting to be invented, and when they are, we can unleash the promise of the metaverse."

TONOMUS Venture Studio's series of startup competitions will fuel the Studio's portfolio of projects focused on the cognitive ecosystem, including Web3, hyper-connectivity, hyperscale data centers, compute power, data privacy, intelligent analytics, AI, robotics , network equipment and cloud infrastructure, digital twin technology, games and much more.

The TONOMUS New Venture contest seeks ideas that take advantage of the metaverse, seamlessly integrating the physical and the virtual in a wide range of sectors: tourism, business training, e-commerce, real estate, construction, art and culture, entertainment, etc. Up to 20 semi-finalist teams will receive one-on-one expert advice from the TONOMUS Venture Studio and up to four winning teams will be invited to a 12-week program to incubate their ideas with the TONOMUS Venture Studio. The contest will open its call for six weeks from January 5.

About TONOMUS

TONOMUS is a leading global technology company powering the world's first ecosystem of cognitive technologies in NEOM, a region of Saudi Arabia that is charting the course for a new future powered by pioneering technologies. The TONOMUS digital infrastructure will be the operating system of NEOM and will enable the bold ambitions of its communities and industries. In collaboration with global technology industry leaders, you will co-invent the future of sustainable living with innovative cognitive technologies that you will share with the world.

For more information, visit TONOMUS.NEOM.com

About TONOMUS Venture Studio

The TONOMUS Venture Studio creates companies that focus on the cognitive ecosystem, including connectivity, computing power, AI and robotics, as well as the foundational infrastructure that will support it all. Home to the TONOMUS New Venture Competition series, the TONOMUS Venture Studio is building a portfolio of companies using Silicon Valley-influenced methodology and guidance. It will also build global talent capacity and launch a new generation of entrepreneurs.

For more information, visit TONOMUScompetitions.com

For more information, contact: media@neom.com

This material has been distributed by Edelman on behalf of NEOM. Additional information may be obtained from the Department of Justice, Washington, DC.

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