STV and Meta have announced a new partnership to help tech startups in Saudi Arabia and Mena. The partnership is designed to build the community’s capability and enable STV portfolio growth via Meta marketing and platform solutions.
Social platforms are critical in the digital age. They enable organisations to engage customers and the wider community and attract new customers. The region’s technology industry is more dependent on local consumption than global benchmarks.
Seeing this opportunity، STV and Meta entered into this partnership which is designed to build technical capabilities in Saudi Arabia and the region, through education and awareness for the entrepreneurs, marketers and developers. Meta will also provide financial and strategic incentives to STV portfolio companies.
In a statement announcing the partnership, STV commented, “As active technology investors in Saudi Arabia and the region, we’ve seen how crucial online marketing is for scaling the new wave of business and digital champions. These channels have one of the highest consumption rates worldwide, as evidenced by the large amount of venture capital that has been raised. The importance of social platforms like Meta’s for customer engagement and brand management led us to explore partnerships where we can support our portfolio in this area”
Commenting on the partnership, Fares Akkad, Regional Director for the Middle East and North Africa at Meta, said: “We are excited to be partnering with STV to support tech startups across the Mena region and in the Kingdom of Saudi Arabia in particular. As a priority market for Meta, we’re keen on growing the wider tech ecosystem in the country by building important capabilities and skills for business communities through our marketing and platform solutions. Our platforms, products, and tools are used by businesses and communities throughout the region to connect with customers, expand their reach, and increase their online visibility. Through this new partnership with STV, we are fully committed to furthering our investment in Saudi Arabia and the MENA tech ecosystem by building technical capabilities for SMB owners, upskilling entrepreneurs, and supporting marketers and developers.”
STV further concluded, “We believe at STV that our most valuable assets are the deep partnerships we build to transform the region’s tech sector. This partnership is an additional commitment by our founders in supporting them beyond the capital in their quest to champion the region.