Beam Ventures launches a $150M fund for Abu Dhabi to become a global gaming hub
The gaming fund aims to accelerate promising founders and contribute to Abu Dhabi’s transformation into a global gaming hub. The gaming fund is designed to help accelerate promising founders, as well as contribute to Abu Dhabi becoming a global hub for gaming. Beam Ventures, by stimulating innovation in these areas, aims to collectively reinvent gaming experiences and drive industry growth. I asked which categories were attractive. The fund also said that it was looking at virtual and augmented realities in gaming in addition to AI and blockchain in gaming.
The fund’s commitment is to help shape the future gaming with the next generation game developers and innovators. Beam Ventures, in collaboration with local partners in Abu Dhabi aims to foster talent and elevate Abu Dhabi’s position as a global leader in gaming. In this effort, it is competing against other wealthy Middle Eastern areas such as Dubai and Riyadh. Abu Dhabi, in the United Arab Emirates, is quickly becoming a hotspot of gamers and game developers. With a growing player community and transformational initiatives like the creation of an esports Island. The Emirate also hosts many gaming events, from tournaments to summits. Beam Ventures, the accelerator program of the Department of Culture and Tourism Abu Dhabi’s strategic affairs executive director, Saeed Al-Fazari said, “Over these past three years we have developed a robust gaming ecosystem in Abu Dhabi. Establishing a gaming fund will ensure that this ecosystem thrives.” This initiative aligns seamlessly with our Abu Dhabi Gaming efforts, reflecting our commitment to welcoming investments in the gaming industry and highlighting the trust and confidence investors have in our ecosystem.”
He added, “We remain deeply committed to attracting and nurturing talent in Abu Dhabi, contributing to the knowledge-sharing economy, and driving the growth of the creative industries. This fund is another step forward in ensuring Abu Dhabi becomes a global hub for gaming excellence and innovation.”
Mark Borsten, chief strategy officer at Beam Ventures, said in a statement, “At Beam Ventures, one thing drives us above all else: innovation. Innovation has always been the lifeblood of Beam Ventures. We are proud to bring our innovation-driven mindset to Abu Dhabi. The city has proven to share this mentality time and time again. Beam Ventures has always been on the cutting edge, and this collaboration is exactly what we were looking for. We look forward to other cutting-edge creators and founders joining us on this adventure.”
Beam Ventures accelerator program
In alignment with its mission to cultivate and empower new talent, Beam Ventures will launch an accelerator program, inspired by globally recognized precedents. This program supports early-stage startups that specialize in web3 gaming, AI and a mix of both in-person and online participation. The program’s goal is to foster successful startups who will have a positive impact on the gaming industry. Beam’s executive team was previously from Merit Circle. Stay in the loop! Subscribe to receive the latest news daily in your email.
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