Both platforms will combine their prowess to establish a vast network of high potential, tech-enabled startups and businesses that can benefit from greater funding opportunities.
Saudi-based incubator OQAL is teaming up with Flat6Labs to broaden funding opportunities for startups in the MENA region. This newly formed partnership will allow OQAL to directly access Flat6Labs’ portfolio companies, and enrich these startups with the incubator’s vast network of investors.
“We are very excited about our partnership with OQAL. It marks another building block in our mission to help our startups grow and scale toward their desired markets in MENA and specifically the GCC,” says Ramez El-Serafy, CEO at Flat6Labs. “As one of the first and largest Angel Investor Networks in Saudi Arabia, we’re confident in what this partnership with OQAL will garner in terms of exciting investment opportunities for Flat6Labs startups and OQALs network of angel investors.”
This scout for startups will involve a pre-set criteria by both platforms, which mandates that the selected venture have exhibited a certain standard of growth that goes to show how well the business can accelerate. These standards also prove a startup’s knack for problem-solving, quality of working prototype of its product or service, the state of the team and being, essentially, a tech-enabled business that is gaining traction on whichever solution they’re offering.
"A key pillar in OQAL's strategy is ‘Engaged Network’ that emphasizes our efforts in playing a proactive role within the ecosystem with essential partners as Flat6Labs MENA, which is one of the most prominent acceleration programs in the region with a strong track-record and even stronger founders and teams,” said Latifa BaNasr, CEO of OQAL Angel Investors Network. “We’re hopeful that this partnership will be yielding more investments, and more startups setting-up and expanding to Saudi Arabia.”
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