Arab News, Wednesday, Mar 01, 2023 | Sha'ban 09, 1444
stc Group and Alaian sign deal during MWC 2023 to share best practices and success cases in innovation
Saudi Arabia:
Saudi digital firm stc Group has signed an
agreement with global telecommunications alliance Alaian which will see them
working together to search for innovative start-ups across the world.
The memorandum of understanding was inked during
the Mobile World Congress event in Barcelona, Spain, and will see the
entities exchanging pioneering solutions and successful business models from the
telecommunications industry, as well as sharing best practices, lessons learnt
and success cases in the Open Innovation field.
The collaboration will also see the organizations
seeking to gain visibility in entrepreneurial ecosystems by launching joint
communication strategies in media and raising their profiles at global
innovation events, according to the Saudi Press Agency.
Alaian is a global alliance for innovation that
brings together eight of the world's leading telecommunications companies, with
its members having a total of 700 million customers in Europe, Africa, the
Middle East, and Latin America.
The alliance has already opened a global search
for start-ups based on use cases that enrich existing and new technologies, such
as 5G and Fibre, with offerings that generate additional customer value.
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 SR10 billion ($2.6 billion) total
market value of these incubated start-ups.