Middle East celebrates 15 unicorns in AI startups; more on the way

The Middle East's AI startup ecosystem is thriving, boasting 15 unicorns and a promising pipeline of future successes.
Luca Barbi, general partner and COO at STV, highlighted the region's potential during a recent interview.
"Today we have 15 unicorns in the region and more in the pipeline portfolio," he stated.
Government investments in data center infrastructure are pivotal, allowing venture capital firms to concentrate on application-layer startups.
Barbi noted, "There are a number of use cases that are immediate, relevant and can find, you know, a tangible application in the market, especially with customer service or enterprise automation."
This strategic focus is expected to drive further innovation and growth in the region's tech landscape.

The Middle East celebrates the emergence of 15 unicorns in AI startups, with more expected to join their ranks. This growth is fueled by significant government investments in data center infrastructure, enabling venture capital firms to target application-layer startups that address immediate market needs.