12 MENA accelerators and incubators partner up

One way to grow is to invest more in your portfolio companies to undercut competitors. The other, is to form alliances that support a bunch of companies in which you and your partners have vested interest—a smarter way to boost growth without actually investing funds.

Twelve startup accelerators and incubators from different countries of the Middle East & North Africa have opted for the later. They have partnered to form a network of regional accelerators that will offer support and resources to 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,” said the newly formed network in a statement to MENAbytes.

The twelve accelerators of this network are: Falak Startup, Enara Ventures and EFG-EV Fintech from Egypt, Womena from UAE, Oasis500 from Jordan, Badir from Saudi, La Factory from Morocco, Tec.ly from Libya, Gaza Sky Geeks from Palestine, Level 1 from Tunisia, IncubMe from Algeria and Brilliant Lab that has operations in Kuwait and Bahrain.

Will we see more accelerators join the network, or form competing networks? Perhaps we’ll see both. In either case, there will be competition, in spite of smart ventures that look to avoid it.

Read more about it here.