https://arab.news/2taxe
- Initiative highlight how startups can benefit from platform, achieving 44 percent incremental reach, according to TikTok data
DUBAI: TikTok’s Project Unicorn, which was launched in May in the MENA region, is gaining significant momentum across the region, connecting start-ups in the MENA region with venture capitalists from around the world.
Designed as a holistic program, Project Unicorn aims to catalyze the growth of the region’s VCs and start-ups across key digital sectors such as fintech, crypto, convenience services, educational technology and health technology.
Startups from these areas have seen significant growth on TikTok, with those from the fintech area witnessing a 252 percent increase in video views and those from the crypto sector seeing a massive 2,940 percent increase in video views.
The Project Unicorn Hub provides access to industry insights and market intelligence, empowers start-ups to connect with global experts, gain access to useful video content and to join exclusive conferences and thought leadership programs.
It also provides support from TikTok experts to activate campaigns and build partnerships with creators.
“Since the launch of Project Unicorn in May, TikTok has engaged and connected with more than 80 startups in the MENA region, delivering more than 20 bespoke consultancy workshops by TikTok for business, on how to succeed on our platform as a startup,” said Joanne Chehab, head of business partnerships for managed services, global business solutions, MENA at TikTok.
Project Unicorn highlights how start-ups on TikTok can benefit from the platform, achieving 1.6 times more on their return on ad spend and 44 percent incremental reach compared to other digital channels, according to TikTok data.
According to TikTok, STC Pay, a digital wallet by telecom provider STC, used the platform to drive awareness about STC Pay in the Kingdom. The campaign saw a 69 percent uplift in brand relationship, a 46 percent uplift in purchase intent, 13.6 million video views and a reach of 4.9 million.
“From helping forge real connections to offering all the benefits of the Creator Marketplace and the TikTok Ads Manager, Project Unicorn is our step-by-step guide to steer the region’s start-ups on the road to becoming the next unicorn,” Chehab said.