Google and STV Launch AI Fund for MENA Startups; AWS Invests $5.3B in Saudi Arabia's AI Infrastructure
Key Takeaways
- Google backs STV's AI Fund to boost AI-native startups in the MENA region.
- AWS invests $5.3B in Saudi Arabia to develop a new AWS infrastructure region.
- HashKey Group secures Dubai VASP license, launching virtual asset services on 2025-05-19.
- BitOasis launches in Bahrain, aiming for 1 million users across MENA by 2026.
- Dubai's Meydan Free Zone launches 60-minute business license for AED15,000.
Top Stories
Google backs STV's AI Fund for MENA innovation
On 2025-05-14, Google partnered with STV to support AI innovation in the MENA region. This partnership involves Google backing STV’s newly launched AI Fund, which aims to accelerate the growth of AI-native startups.
AWS invests $5.3B in Saudi Arabia AI infrastructure
On 2025-05-14, AWS and HUMAIN announced a strategic partnership to invest over $5 billion to build an "AI Zone" in Saudi Arabia, advancing the country's AI leadership mission. Separately, Amazon is investing $5.3 billion (approximately SAR 19.88 billion) to develop a new AWS infrastructure region in Saudi Arabia, expected to be operational in 2026.
HashKey Group obtains VASP license in Dubai
On 2025-05-14, Hong Kong's HashKey Group secured a Virtual Asset Service Provider (VASP) license from Dubai's VARA, commencing UAE operations via HashKey Global MENA. The exchange is set to launch on 2025-05-19, offering virtual asset exchange and broker-dealer services and expanding digital asset products within VARA’s regulatory framework.
BitOasis launches in Bahrain, eyes 1M users
On 2025-05-15, BitOasis, a Dubai-based cryptocurrency exchange, launched in Bahrain with a Crypto-Asset Services License from the Central Bank of Bahrain. CEO Ola Doudin aims to reach one million users across MENA by 2026; the exchange has processed over US$7.4 billion in trading volume and raised over US$40 million in funding since its founding in 2016.
Dubai's Meydan Free Zone launches 60-minute business license
On 2025-05-14, Meydan Free Zone in Dubai introduced Fawri, enabling entrepreneurs to secure a business license in 60 minutes for AED15,000. This license includes core legal documents and permits operations across various sectors.
Ecosystem News
"The Final Pitch Dubai" investor judges announced
On 2025-05-14, Bijan Alizadeh, Dr. Mohanad Alwadiya, Sami Khoreibi, and Jigar Sagar were announced as investor judges for "The Final Pitch Dubai," a business reality TV show. The submission deadline for applications is 2025-05-27, filming is scheduled to begin in Dubai in June 2025, and the show will be broadcast on OSN and OSN Plus in Q4 2025.