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MENA is one of the most attractive markets for the development of technology ventures – it has now reached an upward tipping point in its growth trajectory. According to a new report by STV, the largest technology VC fund in the Middle East, the MENA region can potentially output 45 unicorns by 2030 worth $100bn+ in equity value, and can create digital giants that can list on public markets, remain independent, and keep their focus on delivering innovative solutions tailored to local needs.
The new report, titled 'From Startup to IPO: Unlocking a $100B+ Opportunity,' shares findings on how to further enable and nurture the ecosystem, as well as a playbook on scaling technology companies across multiple sectors and countries in the MENA region.
STV believes that within the next seven years, MENA will see the emergence of decacorns, i.e. a technology company worth at least $10B in equity value.
Overall, the report concludes that the region's tech sector's growth trajectory is driven by top-down reforms and initiatives, and is fueled by a young and tech-savvy population, an integrated regional ecosystem, and a deep public market in Saudi Arabia.
You can view the full, in-depth report here.
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