Saudi Arabia highlights the global center of billionaire applications, creating an innovative environment
Saudi Arabia has strengthened its position as one of the outstanding international centers and a regional incubator for the growth of startups and its transformation in the Unicorn company, a term called private startups whose market value exceeds a barrier of one billion dollars and is a sign of success and perfection in the world of Enthri.
This transformation takes place in the motivational organizational and legislative environment, wide state support and growing financing, which reflect the dynamics of the local market and its continuous impulse in this sector. These millionaire companies are often actively involved in the fields of advanced technologies, such as artificial intelligence, financial technologies, E -Commerce and logistics services.
Success stories
Among the outstanding examples of Saudi companies that have reached this achievement: “STC Bay”, “Taby” and “Tamara”, the last of which is “ninja” for quick delivery.
STCB is the first licensed company of financial technologies in the kingdom from the Central Bank of Saudi Arabia, and it is a leading digital portfolio in the region of the Middle East and North Africa, as well as the first new financial technology in Saudi Arabia.
As for Tabi, it is a company authorized by the Central Bank to provide payments financing services within the period, and has received a certificate of compatibility with Islamic Law and an international standard certificate specializing in credit payment cards.
In December 2023, Tamara joined the club of billionaires. It was founded in ER -ryad in 2020 and provides services to “buy now and pay later”, in addition to its activities in the field of purchases, payments and banking services in Saudi Arabia and the Gulf of the Arab Gulf.
Among the most outstanding recent news in this context, the ninja is a “ninja” as the last Saudi unicorn after collecting about $ 250 million in a financial tour, led by Er -Riyadsky Financial, and the three -year value of the company was estimated at 1.5 billion dollars, and seeks to offer a preliminary public by 2027, according to Blumberg.
According to Magnit, the startups in the kingdom attracted about $ 400 million in the first quarter of this year.
The strategy of the kingdom
In this context, the Corporation and the CEO of Unicenoin considered digital currencies, and the general director of Union Hunters, Silvina Moskini, that “vision 2030” was a decisive turning point, noting that it “opened markets, expanded the economy outside the oil and made entrepreneurship in the heart of growth strategy in the kingdom”.
Unicorn Hunters is an innovative American investment platform that emphasizes promising startups who seek to cover a billion with individual investors from around the world who contributed to financing these new projects.
Musiki added to Auchark al -Aavsat that investment in digital infrastructure, strengthening the friendly organizational environment for startups and creating a “state investment fund”, put Saudi Arabia on a site that allows bold ideas to turn into billions of dollars.
She adds that investors, whether local or international, are looking for fast -growing markets with strong state support, and this is what Saudi Arabia provides, noting that the local market is large and is connected with digital connection, and includes young technology experienced and striving for innovation, as well as state support reduces barriers to entry and creating opportunities for the possibilities joint investments.
She emphasized that Saudi startups no longer think only locally, but also provided decisions that can be regional and global extensions.
Despite the achievements, Musiki believes that the achievement of the Unicorn situation is only the beginning, saying that “a real task is sustainable growth and global competitiveness,” emphasizing the importance of building international partnerships and expanding Persian Gulfs outside the region.
Support for state programs
Musiki believes that the following promising sectors exceed financial technologies and e -commerce to include artificial intelligence, cybersecurity, pure energy technology, digital health and creative industries, such as games and media. “All of them correspond to the goals of Vision 2030, and Saudi Arabia is invested in many investments,” as it puts.
This growth is under supporting state programs, in particular, the Tamukh program of the general authority of small and medium -sized enterprises (objects), which is aimed at creating a motivating environment for the growth and expansion of objects and allows them to expand in local and international markets.
The number of institutions registered in the program reached 2333 objects, while the number of services provided was 14, and these services were used 6271 times.
Musini expected that over the next few years there would be more than Saudi companies to join the Unken club, emphasizing that “the ecosystem is developing rapidly, and that the founders are more experienced, and investment appetite was increasing.”