Strategic Partnerships Fuel Entrepreneurial Ecosystem in MENA Region
Startups across the Middle East and North Africa region are increasingly collaborating through strategic partnerships to enhance the entrepreneurial ecosystem. Ventures from various industries are forging alliances, and signing agreements to bolster expansion, penetrate new markets, and enhance customer satisfaction initiatives.
Outlier Ventures and National Technology Development Program Join Forces in Saudi Arabia
At the forefront of these strategic partnerships, the Kingdom’s National Technology Development Program has joined forces with Outlier Ventures, a prominent global Web3 accelerator, to bolster the technology sector in Saudi Arabia. Under the memorandum of understanding, the Base Camp Web3 accelerator program aims to support and cultivate the growth of promising Web3 startups in the Kingdom. Participating startups will benefit from Outlier Ventures’ expertise, receiving guidance on product development, entity structuring, and token design from a team of in-house experts. Additionally, these startups will gain invaluable insights and networking opportunities through direct interactions with leading mentors and investors in the Web3 domain.
Inbox Business Technologies Expands into Saudi Arabia with AstroLabs Partnership
Pakistan’s Inbox Business Technologies sealed a partnership with business facilitator AstroLabs to support the former in entering the Saudi market. Inbox Business Technologies, under the ownership of the Dawood Group, is renowned for its extensive experience in delivering transformative innovation across various technology domains in Pakistan. With a workforce exceeding 1,800 professionals, Inbox is well-equipped to offer services in business applications, enterprise managed services, cloud migration, digital security, and cybersecurity.
True Gamers and Takefluence Unveil Ambassador Program for Gaming Community
True Gamers and Takefluence have partnered to unveil an ambassador program dedicated to the gaming community. This innovative initiative aims to empower gaming enthusiasts and content creators, providing them with a platform to express their creativity, engage with broader audiences, and convert their gaming passion into tangible opportunities.
Deliveroo UAE Teams Up with Kayali to Offer Luxury Fragrances
Deliveroo UAE has forged a partnership with Kayali, the prestigious perfume brand created by beauty entrepreneur Mona Kattan. This collaboration marks a significant development in on-demand shopping, with Deliveroo being the exclusive aggregator to feature Kayali’s luxury fragrances on its new shopping vertical. This move expands Deliveroo’s range of offerings and showcases its commitment to providing customers with convenient and premium shopping experiences.
MBC Group Acquires Stake in Anghami, Ahlan App Secures Funding, and Sprints.ai Raises $3m
Saudi Arabian media giant MBC Group, via its MBC Ventures division, has acquired over 4 million ordinary shares in the Nasdaq-listed music streaming service Anghami. Bahrain’s Ahlan App, a loyalty program and delivery service, has secured a $3 million investment at a $15 million valuation in a round led by Hope Ventures, with contributions from Al Rajhi Holdings and other angel investors. Egypt-based edtech firm Sprints.ai has raised $3 million in a bridge round led by Disruptech Ventures, with contributions from EdVentures and Challenge Fund for Youth Employment, among others.