Retail group Majid Al Futtaim has launched an accelerator programme to attract startups and SMEs in strategic sectors to turbo-charge their growth plans and support economic development.
The Majid Al Futtaim Launchpad will focus efforts on supporting core growth areas, including homegrown brands, health and beauty, prop-tech targeting startups.
“Our new Majid Al Futtaim Launchpad programme aims to facilitate state-of-the-art solutions and services while inspiring, nurturing and growing the startup and SME ecosystem,” said chief corporate development officer at Majid Al Futtaim – Holding, Joe Abi Akl.
“The new programme brings a host of significant benefits for consumers, employees, business owners, investors and governments across the region, acutely representing our role in supporting and building an open, efficient, effective, and globally integrated business environment,” he continued.
The accelerator programme will work with AstroLabs, a technology ecosystem builder, and support entrepreneurs and startup businesses in the UAE and MENA region,
For participants, it will offer unrivalled access to business growth incentives, mentorship programmes and a vast innovation ecosystem to strengthen the commercial viability of startups and SMEs across the region.
“Established organisations like Majid Al Futtaim can leverage market access, and recognise the need to integrate startups into their value chain to stay ahead of disruption,” said CEO of AstroLabs, Roland Daher.
“At the other end of the spectrum, SMEs and startups have a solid grip on digitalisation, but find it difficult to infiltrate and grow in their industry.
He highlighted that there were cultural and technological differences between these worlds that have and that “organic access between them is still difficult”.
The Majid Al Futtaim Launchpad will foster and grow the SME and startup ecosystem, providing knowledge, inspiration, and the critical support companies needed to help grow their business quickly and conveniently while attracting, developing, and supporting world-class talent.
