The TONOMUS Venture Studio launched its activities with the announcement of a new venture competition focused on
the metaverse.

According to a statement, the Studio, the business development and investment arm of TONOMUS, is the first NEOM subsidiary and a global conglomerate of cognitive technologies supporting the world’s first ecosystem of cognitive technologies.

A series of competitions will follow the Metaverse New Venture Competition. New venture competitions are a crucial component of the Studio’s plan to promote global entrepreneurship and build businesses and investments that will protect the environment, invent new social structures, and develop cognitive technologies in various fields to empower humanity.

“We’re at the tip of the iceberg of how we can leverage the metaverse to solve current and future problems. We’ll need tremendous collaboration and ingenuity; ideas and perspectives from everyone, everywhere; a new generation of entrepreneurs; and truly pioneering technologies—some of which haven’t even been contemplated yet. Entirely new industries are just waiting to be invented—when they are, we’ll be able to unlock the promise of the metaverse,” said Beverly Rider, CEO at TONOMUS Venture Studio.

TONOMUS Venture Studio’s new venture competitions will be centered on the cognitive ecosystem, which includes Web3, hyperconnectivity, hyperscale data centers, computing power, data privacy, intelligent analytics, AI, robotics, networking hardware and cloud infrastructure, digital twin technology, gaming, and more.

Up to 20 semi-finalist teams will receive individualized coaching from TONOMUS Venture Studio experts, and up to four winning teams will be invited to a 12-week program to incubate their ideas with the TONOMUS Venture Studio. The competition will open its call for submissions for six weeks starting on January 5.