Technology

Monsha’at highlights five high-growth SMEs poised to become unicorns as part of Vision 2030 strategy

Saudi Arabia took center stage at VivaTech 2025, Europe’s premier technology and innovation event, as Monsha’at, the Kingdom’s Small and Medium Enterprises General Authority, led a delegation of five high-potential startups under the Saudi Unicorns program. This bold initiative, aligned with Saudi Vision 2030, aims to support fast-growing companies on their path to becoming unicorns — startups valued at over $1 billion.

Held in Paris from June 11–14, VivaTech’s ninth edition gathered more than 13,500 startups, 3,200 investors, and over 165,000 attendees from around the world. Saudi Arabia’s participation marked a milestone moment, positioning the Kingdom as a rising force in global innovation and entrepreneurship.

“Our participation at VivaTech 2025 was a tremendous opportunity to not only showcase some of the best young startups and concepts coming out of the Kingdom,” said Saud Alsabhan, Vice Governor of Entrepreneurship at Monsha’at. “It also allowed our leading entrepreneurs to engage with global investors and innovators, gaining invaluable insights and forging vital connections.”

Saudi Startups on the Rise

The Saudi delegation featured five standout startups from sectors including e-commerce, fintech, transportation, retail tech, and entertainment technology:

• Telgani: A fast-scaling digital car rental platform with over 3 million users.

• Soum: A leading second-hand goods marketplace, boasting over 6 million downloads.

• Webook: A digital engagement and event tech platform, with more than $500 million in processed transactions.

• SiFi: A fintech innovator offering financial solutions to over 500 Saudi companies.

• Rewaa: A retail tech powerhouse serving more than 7,000 clients across the Kingdom.

Together, these startups reflect the vibrancy and momentum of Saudi Arabia’s evolving SME landscape and its ability to compete on a global stage.

A Growing Innovation Ecosystem

Saudi Arabia’s startup ecosystem is experiencing rapid acceleration. In Q1 2025, the private sector recorded a 48% quarter-on-quarter increase in commercial registrations, reaching 1.68 million active licenses. E-commerce entities surged by 6% to 41,322, while the cloud computing sector witnessed a striking 33% growth.

These figures underscore the Kingdom’s strategic focus on digital transformation, entrepreneurial empowerment, and private sector diversification — all core tenets of Vision 2030.

Global Exposure, Local Impact

By participating in VivaTech, Monsha’at not only facilitated international exposure for Saudi startups but also reinforced the Kingdom’s commitment to fostering cross-border partnerships, nurturing innovation, and scaling homegrown success stories to international markets.

The Saudi Unicorns initiative aims to create a fertile environment for local startups to thrive, offering them access to mentorship, capital, and global networks, while ensuring alignment with international standards and best practices.

As the world continues to look toward emerging markets for the next wave of unicorns, Saudi Arabia is firmly planting its flag among the global innovation elite — not just as a regional hub, but as a global player in the digital economy.

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