Mena expected to create 45 ‘billion-dollar’ start-ups by 2030 – The National

Mena expected to create 45 ‘billion-dollar’ start-ups by 2030 – The National

More than 45 start-ups valued at a minimum of $1 billion are expected to emerge from the Middle East and North Africa by 2030, led by Saudi Arabia, a report from STV showed.

The acceleration of the start-up ecosystem is being driven by a growing talent pool, technology infrastructure and consumer adoption, as well as broad macroeconomic and regulatory reforms, all catering to Mena's growing technology-driven population, the Saudi technology venture capital fund said in the study released on Tuesday.

The kingdom, the Arab world's biggest economy, is "undoubtedly the gravitational centre" of the broader Mena catchment area, and its appeal is primarily driven by two factors — the size of its gross domestic product and the depth of its stock market, which increases opportunities for initial public offerings (IPOs), it said.