Page 15 - SAMENA Trends - Jan-Mar 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc Signs Deal with iBASIS to Boost IoT in MENA

stc Group, a leading digital enabler solutions for operators and digital players experience via IoT technology in the
in MENA, has signed an Internet of worldwide. The aim of the deal, signed region. Through this MoU, stc says it will
Things (IoT)-focused memorandum of last week at the Capacity Middle East benefit from iBASIS’s capabilities and
understanding (MoU) with iBASIS, an event in Dubai, is to better support the leading position in the field of IoT, enabling
independent provider of communications provision of a global communication developers of IoT technologies in Europe
and America to expand their business
in the MENA region. By elevating M2M
connectivity and enabling international
original equipment manufacturers
(OEMs) to explore growth opportunities
in the MENA region, say the partners, this
collaboration will facilitate the growth of
IoT technologies, providing IoT developers
with flexible communications services for
rapid expansion, and thereby contribute to
economic growth and the diversification
of investment opportunities in the region.
In addition, this partnership will, the
companies say, drive innovation and digital
transformation to help evolve telecom
services in the region to meet customers’
changing requirements, particularly in the
development of the smart device industry.
Moreover, they predict that it will further
boost the development of new solutions
and bolster IoT connectivity in MENA
to cater to businesses’ growing needs.

stc Group Unveils "tali Ventures” as the Corporate Venture Capital Arm

stc Group, the Kingdom's engine of digital
transformation, announces the launch
of its Corporate Venture Capital Arm, tali
ventures, which serves as a catalyst for
innovative startups, leveraging stc Group’s
ecosystem. This milestone underscores
the Group’s commitment to propelling
technological advancement and fostering
a vibrant entrepreneurial ecosystem
across its operating markets. tali venture
has already made significant strides by
investing in startups such as Nile (network
equipment solutions), Rewaa (inventory by committing to invest in revolutionary support across diverse fields. This
management solutions), and NearPay startups through collaborating with holistic approach cultivates innovation
(digital payments solutions). These initial renowned global funds such as Sanabil and from the ground up, nurturing a thriving
investments demonstrate the Group’s Prosperity7. Therefore, shaping the future ecosystem of talent. This launch signifies a
dedication to adopting new technologies, of technology and unlock unparalleled continuation of stc Group’s efforts to foster
embracing innovative ideas and driving opportunities. Focusing on key areas such innovation through strategic investments.
technological transformation. Emphasizing as AI, fintech, proptech, ICT, Cloud, IoT, Initiatives like the InspireU program, which
the fund's ambitious vision, the launch of cyber security and other digital trends, tali incubates and supports over 100 startups,
tali ventures marks a pivotal moment in stc ventures aim to support groundbreaking stand as testament to this commitment.
journey to empower the world’s brightest ventures that have the potential to Furthermore, STV and stc venture funds
minds. The Group aims to be a leading revolutionize industries. tali ventures have invested in numerous startups,
force in nurturing entrepreneurial talent empower startups from their inception to driving economic diversification and
and advancing groundbreaking initiatives, growth stage, providing comprehensive growth in line with stc’s DARE strategy.
15 JANUARY-MARCH 2024