Startup studio Enhance partners with innovation advisory platform Silicon Foundry
Enhance, one of the MENAPT region’s leading startup studio, has entered a strategic partnership with US-headquartered innovation advisory platform, Silicon Foundry. Silicon Foundry is a membership-based advisory platform that works closely with global corporations to discover, connect and engage with key startups and emerging technologies, in order to unlock high-impact, business opportunities.
Under the alliance, the two firms will leverage their complementary capabilities and expertise to bring leading edge innovation models and methodologies, such as startup studios, to large enterprises and government organizations in the MENAPT (Middle East, North Africa, Pakistan and Turkey) region. The partnership will build strategic bridges between Silicon Valley and MENAPT and provide curated access and opportunities for stakeholders of both firms across the two innovation markets.
“As Enhance goes through its ideation phase prior to launching new ventures, we look to more mature ecosystems like Silicon Valley to learn from their experiences and insights,” said Ritesh Tilani, Founding Partner at Enhance. “Their network in the Valley is unparalleled and having access to sources of new business models and growth methodologies will give us a considerable competitive advantage.”
Launched in 2016, Enhance focuses on building innovative vertical marketplaces in the Middle East, North Africa, Pakistan and Turkey. Its first venture www.joigifts.com is now the region’s largest online gifts marketplace. Enhance is currently working on launching a number of new ventures across various verticals.
With offices in Saudi Arabia, the United Arab Emirates, Jordan, Egypt and Turkey, Enhance provides the physical operations and network to tap into business opportunities across the region.
“Local partnerships are an important part of our strategy when we expand into new markets,” said Steve Gotz, Partner at Silicon Foundry. “We have found that combining our global network and expertise with a strong, respected and deeply connected local partner, like Enhance, is a powerful formula for success.”