Helping AI Startups Grow in the Middle East & North Africa: Google is Backing STV’s AI Fund
At Google, we are committed to making technology benefit everyone in the Middle East and North Africa, and AI is central to this commitment. Today, we are pleased to announce that we are backing Saudi Technology Ventures’ (STV) new AI Fund, a dedicated fund established to support AI-native startups throughout the region. This contribution marks a significant step in enabling early-stage AI ventures and accelerating their growth.
The global momentum surrounding AI innovation continues to accelerate, with advanced models and scalable infrastructure driving rapid progress. Within the MENA region, the embrace of AI is clear, with growing efforts to localize AI models and enhance regional infrastructure.
Research conducted by STV highlights a significant opportunity for investment. Currently, AI startups in MENA receive a substantially smaller percentage of venture capital (1.5%) funding compared to global benchmarks like the U.S. (38%) and India (13%). This indicates a vast untapped potential for transformative innovation and substantial economic gains. For example, immediate AI-driven cost savings in the GCC alone are estimated to exceed $23 billion, pointing to an even larger long-term opportunity. This is why working with partners is so crucial.
Our backing of STV’s AI Fund represents a strong commitment to supporting the AI ecosystem in MENA, building on our broader efforts to provide access to the opportunity behind AI for everyone. This is mainly driven by our MENA AI Opportunity Initiative, the largest AI initiative in the region, that will provide essential AI skills, funding and access to helpful AI products to all. Alongside that, we also have valuable ongoing programs such as our flagship Google for Startups program.
We are really excited about STV’s AI Fund, and we believe it will create significant growth for startups building with AI to solve societal challenges and position MENA as a leading hub for innovation globally.
