stc Group, the leading digital enabler in the Kingdom of Saudi Arabia and the region and Alaian signed an MOU during MWC 2023 to bring several objectives into their collaboration, including identifying new solutions developed by start-ups through international scouting activities and sharing the deal flow of innovative solutions with successful business models with the telco industry, sharing best practices, lessons learnt and success cases in the Open Innovation field, and gaining joint visibility worldwide in the entrepreneurial ecosystems by launching joint comms in media and gaining visibility in global innovation events. stc Group settled its agreement with Alaian as the latter is a global alliance for innovation that brings together eight of the world's leading telcos and will be connected to share expertise on innovation and seek out start-ups where they are present. In addition, the Alaian members have a total of 700 million customers in Europe, Africa, the Middle East, and Latin America. Moreover, the alliance has already opened a global search for start-ups based on use cases that enrich existing and new telco technologies, such as 5G and Fibre, with offerings that generate additional customer value. Selected start-ups can access the best resources that telco members make available to them. stc Group continues to support start-ups, part of its strategy to grow the local talents in Saudi Arabia. As a digital enabler in the Kingdom and the region, stc has supported 92 digital start-ups where financial transactions reached more than 10 billion SAR total market value of these incubated start-ups.
