Google launches 2nd AI startup accelerator in MENA, Turkiye

Google has announced the second edition of its “Google for Startups Accelerator: AI First” program for startups in the Middle East, North Africa, and Turkiye (MENA-T).

This 12-week, equity-free initiative targets seed to series A startups developing AI-based solutions.

Selected participants will receive Google Cloud credits, technical mentorship, and workshops on AI and machine learning technologies.

The program also includes sessions on business growth and leadership development.

The accelerator aims to help startups scale and deploy AI technologies effectively. It offers networking opportunities to connect with investors and industry leaders.

🔗 Source: Google

🧠 Food for thought

1️⃣ MENA’s unique government-led AI approach contrasts with other global models

The Middle East’s approach to AI development is characterized by substantial government investment and strategic national plans, contrasting with more market-driven models elsewhere.

Saudi Arabia’s $40 billion AI fund and Qatar’s $2.47 billion AI incentive package demonstrate how regional governments are taking the lead rather than waiting for private markets to mature 1.

This top-down approach helps explain why MENA’s venture capital investment dropped only 10% in 2022, compared to a global decline of 31%, showing greater resilience during economic downturns 2.

Regional governments are also pursuing a more innovation-friendly regulatory framework compared to the EU’s strict approach, prioritizing growth and application over precautionary restrictions 3.

These strategic national initiatives are creating a foundation that could help close the current AI investment gap, where MENA startups receive only 1.5% of AI venture funding compared to 38% in the US 1.

2️⃣ MENA’s economic AI impact shows sector-specific adoption patterns

While the headline $320 billion projected economic contribution by 2030 is impressive, the research reveals notable differences in how various industries across the region will adopt and benefit from AI technologies.

Financial services is positioned to be the highest spender on AI in the region, potentially contributing up to 13.6% of regional GDP through AI applications, reflecting the sector’s data-rich environment and existing digital infrastructure 4.