First Woman-Led Unicorn in the Middle East to Be Announced Soon

Silvina Moschini, founder of Unicoin
Silvina Moschini, founder of Unicoin
TT
20

First Woman-Led Unicorn in the Middle East to Be Announced Soon

Silvina Moschini, founder of Unicoin
Silvina Moschini, founder of Unicoin

Saudi Arabia is set to become the first market in the Middle East to host a unicorn company led by a woman, reflecting the growing number of female entrepreneurs driving economic transformation in line with Vision 2030.

A unicorn refers to a startup valued at over $1 billion without being publicly traded. The term symbolizes the rarity and exceptional nature of such companies, which serve as key drivers of innovation and economic growth across industries.

Speaking on the sidelines of the Global Labor Market Conference in Riyadh, Silvina Moschini, founder of Unicoin, told Asharq Al-Awsat that Saudi Arabia has many opportunities, with its startup ecosystem growing tenfold. She attributed this rapid expansion to Crown Prince Mohammed bin Salman’s vision of transforming the Kingdom into a global hub for innovation and digital transformation, alongside the country’s strong educational system.

Moschini emphasized that unicorn companies possess technologies capable of disrupting business models to serve large and fast-growing markets. These ventures are typically led by visionary founders with strong leadership skills who can attract top talent and inspire them to execute bold ideas.

She highlighted the main challenge as integration into the global market. While the region’s startup ecosystem is expanding, the companies leveraging technology have the best chance of scaling internationally. She added that Saudi Arabia and the Gulf region offer a sizable market, though further expansion is needed. However, the current conditions indicate that Saudi startups are well-positioned to become global unicorns in the near future.

Moschini noted that women face multiple challenges in entrepreneurship. The first is overcoming traditional cultural barriers, which have historically limited women’s roles in business. However, opening doors for women creates vast opportunities for skill development and the establishment of billion-dollar enterprises. She stressed that often, women impose restrictions on themselves, limiting their own potential.

The second major challenge is securing capital and convincing investors that women can build high-growth companies. Despite this hurdle, she pointed out notable changes, particularly in Saudi Arabia, where women account for 57% of advanced academic degrees, reflecting a high level of education.

According to Moschini, statistics show women-led companies achieve 20% higher profitability than those led by men. She emphasized the importance of confidence and perseverance in bringing ideas to life. She also encouraged female entrepreneurs to collaborate and build strong networks, working alongside both men and women to support the growth of the startup ecosystem.



Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
TT
20

Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)

The lowest price offered in the international tender from Tunisia's state grains agency on Thursday to purchase about 75,000 metric tons of soft wheat was believed to be $262.91 a ton cost and freight (c&f) included, European traders said.

Offers are still being considered and no purchase has yet been reported. The lowest offer is not always accepted if conditions attached to it are regarded as unattractive, Reuters reported.

The lowest offer was believed to have been submitted for optional-origin wheat by trading house Cargill for 25,000 tons, they said.

Cargill also made the next lowest offer of $263.91 also for 25,000 tons, they said.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

Shipment was requested between May 20 and June 30 depending on origin supplied.