12 MENA startup accelerators and incubators from 11 different countries in the Middle East and North Africa collaborated to create a new network of support and resources for their portfolio companies. This collaboration promises to improve the investment ecosystem through strong regional relationships, opening many doors for startups that need support outside their home country.
The participating accelerators in the network are:
Falak Startups – Cairo, Egypt
La Factory – Casablanca, Morocco
Level 1 – Tunis, Tunisia
Oasis500 – Amman, Jordan
Tec.ly – Benghazi, Libya
EFG-EV Fintech – Cairo Egypt
Gaza Sky Geeks – Gaza, Palestine
IncubMe – Algiers, Algeria
Badir Program- Riyadh, Saudi Arabia
Womena – Dubai, UAE
Enara Ventures – Cairo, Egypt
Brilliant Lab – Kuwait & Bahrain
This is the first network of its kind in the region, showing maturity in the MENA investment and entrepreneurship ecosystem, and that it is rich with resources to those who seek them. Before the partnership, it was difficult for early-stage seed investment funds to meet and build strong relationships with startups in neighboring countries.
“The idea behind this initiative is to bring the region together by capitalizing on the success of each Accelerator/Incubator in their respective countries,” said the Head of Programs of Falak Startups, Farah Ehsan. “We aim to work together on pooling our resources and facilities to bridge regional expansions and help all our startups grow faster.”
Together, the 9 accelerators and incubators intend to provide each other with access to relevant resources, such as service provider perks. They will also be providing a soft-landing platform for all the startups in the accelerators’ networks. Moreover, with an average of 100 mentors and speakers per accelerator, the partners will support each other in terms of program content and speakers to provide a first class curriculum.
With travel and international expansion becoming more common for growing startups, the accelerators have also opened their doors to their co-working spaces for partners’ startups when they are overseas. Amongst the future plans, the partners will be working together on a collaboration to fund and deliver networking events.
“We are happy to collaborate with an Egyptian partner that will not only help Jordanian startups access the Egyptian Market,” said the CEO of Oasis500, Luna Fawaz, “but most importantly support Oasis500 in achieving the Sustainable Development Goal: Partnership for the Goals.”