‘INDO-MENA Corridor’ to integrate India and MENA startup ecosystems
Recently, Indian-based Laffaz media launched INDO-MENA Corridor (IMC), an initiative aimed at Indian and MENA start-ups (Middle East and North Africa) connecting technology start-ups with potential investors and advisors through a transparent bidding process accompanied by knowledge sharing through a series of virtual events.
Laffaz media is an entrepreneurship Platform that connects all counterparts of the startup ecosystem including startups, advisors, investors and more, across India and MENA (Middle East & North Africa) regions.
The first episode of IMC virtual events, ‘Introducing Indo-Mena Corridor’, will take place on February 3. The Indo-Mena Corridor came into implementation during the early-Covid period and it took six months to bring it into existence.
The new startup approached various ecosystem enablers to join forces as Ecosystem Partners and received positive responses from Microsoft for Startups Middle East, a dedicated program for Mena-based B2B startups to help them successfully scale their companies; and StartupScale360, UAE-based startup ecosystem builder that connects all key stakeholders, founded by Swethal Kumar, former VP of Mubadala and ex-Hub71.
IMC emerges as an extension of the ever-booming bilateral trade partnership between India and the Gulf Cooperation Council (GCC), which stood at $121.34 billion for the financial year ending 2019. Bilateral trade between India and the UAE alone stood at $57 billion by late 2018.
Numerous Indian startups, including Ola, Zomato, and BigBasket, have also raised investments from the Middle East-based venture capital firms and institutions, such as Vy Capital, Mubadala, Jabbar Internet, Investcorp of Bahrain and many more.
Mohammed Haseeb, CEO & Co-founder of Laffaz Media, said: “Our core-cognition for IMC is wise and clear, forming an integrated ecosystem where joint-enablement across India and the Mena region can take place considering the similar goals that both startup ecosystems share. Unlike the traditional accelerators, IMC’s door is always open for startups throughout the year.
“We are immensely delighted to have startup ecosystem leaders like Microsoft for Startups Middle East, and StartupScale360 as the ecosystem partners for the Indo-Mena Corridor as they are committed to empower the initiative and scale it further. And aiming to keep extending our partner canvas throughout the year.”
Pradeep Singh, CTO & Co-founder, added: “Ever since we started Laffaz, we always had this thought of creating a corridor between India and the Mena region to match innovation with right enablement. The synergy helps both startups and investors to connect regionally as well as internationally.”
