Source: Google
Riyadh, Saudi Arabia — Google has announced a strategic commitment to support Saudi Technology Ventures’ (STV) newly launched AI Fund, a dedicated initiative aimed at empowering AI-native startups across the Middle East and North Africa (MENA). This marks a major milestone in Google’s broader mission to ensure technology—particularly artificial intelligence—benefits everyone in the region.
The investment underscores Google’s belief in the transformative power of AI and comes as part of the company’s ongoing MENA AI Opportunity Initiative. As the largest AI initiative in the region, this program is designed to equip local communities with critical AI skills, funding opportunities, and access to cutting-edge AI tools and products. Google’s flagship Google for Startups program will also continue to play a key role in supporting early-stage ventures.
The backing of STV’s AI Fund comes amid surging global momentum in AI innovation, fueled by increasingly advanced models and scalable infrastructure. In MENA, interest in AI continues to grow, with intensified efforts to localize models and strengthen regional capabilities.
According to research conducted by STV, AI startups in MENA currently attract just 1.5% of global venture capital funding—far behind regions like the U.S. (38%) and India (13%). This underlines a significant gap and a major opportunity for investment and innovation. Notably, AI-driven cost savings in the GCC alone are projected to exceed $23 billion in the near term, highlighting the broader economic potential of AI across the region.
“This contribution to STV’s AI Fund is a powerful step forward in building a thriving AI ecosystem in MENA,” said a Google spokesperson. “We’re excited about the transformative impact this fund will have on startups solving real societal challenges and helping position MENA as a global hub of innovation.”
Through this partnership with STV and other ongoing initiatives, Google reaffirms its long-term commitment to fostering inclusive technological growth and accelerating AI adoption throughout the region.
