Page 18 - UNIFONIC PR REPORT - DECEMBER 2023

12/27/23, 2:10 PM Unifonic Selected in First Cohort of National Technology Development Program’s Bridge Initiative | UAE News 24/7
enterprise-grade multilingual omnichannel communications
platform across the Middle East. We extend our gratitude to our
team, clients, partners, and the government for their unwavering
support, which has bolstered our position as a global market
leader in the SaaS sector.”

The National Technology Development Program plays a crucial
role in advancing the technology ecosystem in Saudi Arabia.
Through various interventions and support mechanisms, it
enhances effectiveness and fosters sustainable growth, aligning
with the initiatives of other stakeholders. Additionally, the program
empowers key enablers in the technology market, who strive to
position the country as a preferred regional hub for innovation and
industry investment.

Under the program, Bridge Initiative participants, including
Unifonic, can leverage various benefits to enhance their regional
and global presence. One of the key benefits for national
companies in the IT and emerging technologies sector is the
extensive support to increase local market share and global
exports. Similarly, the program encourages the local private sector
to embrace IT solutions, initiatives, applications, and services. It
also helps attract both local and global companies that support
innovation and research centers that are key for the IT sector.
Furthermore, NTDP contributes to the localization of the IT sector,
particularly by increasing local content in the field of emerging
technologies.

Unifonic’s selection in the initiative marks a significant step in its
long-standing commitment to support its client base in the Middle
East region. Since its inception in 2006, the company consistently
developed its product line and offers an affordable enterprise-
grade multilingual and omnichannel communications platform
across the region. Furthermore, Unifonic achieved a
groundbreaking milestone by securing over USD 21 million in the
largest-ever Series A financing for a Saudi startup in 2018. The
subsequent Series B round saw an impressive increase, with the
startup raising a remarkable USD 125 million.

In recent years, Saudi Arabia experienced substantial growth in its
entrepreneurial ecosystem, driven by the Saudi Vision 2030. The
growing startup community reflects the country’s commitment to
diversifying its economy and decreasing its dependence on oil
trade. Currently, the Saudi startup community is well-positioned as
a hub for innovation and disruption in the region, especially with
the support of the government, investors, and startup incubators.
Additionally, by embracing change and creating innovative
solutions, these startups are poised to meet the demands of both
local and international markets.

Unifonic, honored to be selected for the prestigious Saudi
Unicorns Program earlier this year, is on an inspiring trajectory to

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