Tonomus, the first fully-fledged subsidiary of NEOM and a cognitive international conglomerate, announced the start of the second venture competition by its Tonomous Venture Studio at LEAP23.
The new effort, dubbed "The Next Billion," asks participants to think about the cutting-edge innovations and technology that a further billion people on the planet could need in order to stimulate and maintain growth in vital sectors and industries like energy, food, and mobility.
The competition is looking for concepts and businesses from a variety of industries that will help create cognitive cities, which foresee problems and find solutions before they arise, tailoring solutions to each individual, and making the most of our planet's finite resources based on the collection and use of data approved by residents.
Tonomus' venture creation and investment platform is entrusted with creating revolutionary, enduring, Silicon Valley-inspired solutions to fuel NEOM's industries and ecosystem of cognitive technologies.
Tonomus Venture Studio, led by industry pioneer Beverly Rider, consists of both seasoned and up-and-coming entrepreneurs. It aspires to solidify NEOM's status as the hub of innovation and Saudi Arabia's position as a location where the greatest thinkers and most accomplished tech professionals in the world can realize their ideas.
An ecosystem of cognitive technologies will really improve people's lives and add previously unheard-of value to the human experience with the capacity to comprehend and map future requirements. It brings decision-making and data closer to the consumer and incorporates proactive, predictive solutions into daily living.
The announcement follows Tonomus' Metaverse New Venture Competition in January, which was aimed at bringing the metaverse's full potential to light while seamlessly fusing the real and virtual worlds in a variety of fields, including real estate, construction, the arts and sciences, entertainment, and more.
The Tonomus Venture Studio will provide individualized mentoring to up to 20 semi-finalist teams, and the top four teams will be invited to a 12-week program to incubate their concepts. The competition will accept entries starting on February 6 and accepting them through April 12. Those interested in participating can get more information at https://www.tonomuscompetitions.com/
