STV and Google Unveil $100M AI Fund Targeting MENA Startups

Editorial Team

Last updated 15-05-2025

3 min

STV and Google have launched a $100 million AI fund for MENA startups.

AI funding in the region was only 1,5% in 2024, compared to 38% in the US.

The partnership will invest in user-oriented AI applications and supportive infrastructure.

Google aims to enhance regional AI opportunities through programs like "AI Opportunity in the Region.

" The collaboration seeks to advance regional tech and economic growth through enhanced innovation.

STV, a leading venture capital firm, has teamed up with tech giant Google to launch an exciting new Artificial Intelligence fund worth an impressive $100 million. The new fund aims to boost startups exploring AI tech across the Middle East and North Africa (MENA) region, where investment in artificial intelligence startups has lagged significantly behind international trends.

To give you an idea, funding dedicated specifically to AI ventures in the region didn’t manage to surpass a measly 1.5 percent in 2024. Compare that to 38 percent in the United States and 13 percent in India, and the gap becomes glaringly obvious. This stark contrast highlights a considerable untapped opportnity—AI technology could potentially deliver economic benefits of more than $23 billion in the immediate term for Gulf nations alone, with long-term returns promising far greater rewards.

Ahmed Al-Nuaimi, General Partner at STV, pointed out that the most significant returns in AI will come from practical, user-oriented applications rather than abstract theoretical ideas. Accordingly, this partnership will prioritise investment in startups that build robust AI-mediated applications, localised AI models, and the essential infrastructure supporting this technology.

Google also reaffirmed its stake in the region’s burgeoning AI ecosystem. Najib Jarrar, Google’s Regional Marketing Manager for Middle East and Africa, restated the company's mission to ensure that everyone can reap the rewards of AI innovation. Google’s efforts, such as the launch of its "AI Opportunity in the Region" programme last year and its ongoing "Google for Startups" initiative, underscore this commitment to supporting tech entrepreneurs and innovators throughout MENA.

For the readers among you who've been following Arageek’s coverage of the regional tech scene, STV’s push into AI truly feels like a wave of fresh optimism about the region’s technological future. After all, the advancement of AI holds immense promise, not only for cutting-edge companies but also for enhancing efficiency, innovation, and ultimately paving the way towards stronger economic growth.

As someone who occasionally enjoys a cheeky shawarma on late-working nights scouring tech news—a guilty pleasure I’m sure many fellow readers can relate to—it's particularly encouraging to watch companies like STV and Google join forces to bridge the AI investment gap in the Middle East. This partnership has all the hallmarks of the kind of transformative initiative the region's ecosystem genuinely needs.

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