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Hatch & Boost launches in ME with aims to scale homegrown startups

reporters@khaleejtimes.com Filed on March 11, 2021
Faris Mesmar, co-founder and managing partner of hatch & boost

Predominantly operating in the UAE, hatch & boost has plans for further expansion across the region in the coming years, namely in markets such as KSA and Egypt

Hatch & Boost, an Abu Dhabi-based venture builder, dedicated to hatching startup ideas and boosting them into scalable ventures, has announced its official launch in the Middle East.

Empowering local talent and home-grown innovation, the startup offers a unique value proposition to investors and entrepreneurs alike, with aims to support the advancement of impact-driven business models in the region. Hatch & boost breeds regionally relevant business ideas that fall within the intersection of technology and impact. With a sector agnostic model that focuses heavily on Environmental and Social Governance (ESG), and sustainability, the venture builder co-creates startups alongside entrepreneurs from concept stage, to market.

Having already launched two successful tech startups, with another three in stealth, hatch & boost aims to fill the gaps in early stage startup development, and reduce the rate of startup failure through the utilization of a shared pool of resources; ultimately lowering the startup capital cost. The venture builder’s full-stack capabilities provide startups with access to a myriad of key tools that can help set them up for success, from product design & tech development to marketing, and more.

Faris Mesmar, co-founder and managing partner of hatch & boost, said: “The startup scene in the UAE has evolved considerably in recent years, and today, it is a hotspot for startup activity, supported by an excellent entrepreneur-friendly infrastructure. Any healthy ecosystem, however, will have gaps that still need to be filled – this is where we come in.”

He added: “Our mission at hatch & boost is to bridge the gap between ideation and growth through our unique venture building model which offers hands-on support from a startup's early-most stages. This model includes the utilization of shared resources that drives cost efficiencies, embraces technology and creatively solves problems that cater specifically to our region. We simultaneously focus on environmental and sustainable impact, ensuring our startups are cleantech, as well as foster a circular economy approach.”

Sami Khoreibi, CEO of Incubayt Investments, and hatch & boost founding investor and chairman, said: “Having established one of the first clean technology startups over a decade ago, it’s been incredible to watch the evolution of the startup community in the region. There has been tremendous progress when it comes to making the entire ecosystem from registration through to capital raise an entrepreneur friendly experience. There is still a white space, however, when it comes to risk appetite for some early-stage investment, and this space is being filled by venture builders like hatch & boost - creating a vehicle for successful early-stage investment that provides the right corporate governance and suits a broader range of regional investors. What makes hatch & boost unique is their ability to strategically focus on the environment through impact-driven ventures, while nurturing talent in the region.”

Predominantly operating in the UAE, hatch & boost has plans for further expansion across the region in the coming years, namely in markets such as the Kingdom of Saudi Arabia (KSA) and Egypt. Later this year, the venture builder has plans to launch a venture fund to invest in tech startups.

Currently in seed stage, hatch & boost has co-founded two successful startups in Femtech and Agritech respectively. World of Farming (WoF) is an Agritech startup, founded by hatch & boost on a mission to address animal feed production and supply chain challenges facing all types of livestock farming. My Lily Box, an all-in-one Femtech hygiene and Self-Care platform on a mission to de-stigmatize female health in the region providing women with access to all their favorite personalized healthcare content and products.

rohma@khaleejtimes.com

Staff Reporter





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