This month, we announced a strategic partnership with Enhance, the MENA region’s leading startup studio. The core goal of the partnership is to further build strategic bridges between Silicon Valley and MENA, while unlocking curated access and opportunities for stakeholders of both firms across the two diverse innovation ecosystems. Steve Gotz, Partner at Silicon Foundry, shares some of his perspectives on the partnership and what it means for our work in the region.
Localization of Innovation
The MENA region’s economy continues to diversify beyond fossil fuels and expand into knowledge-based industries, driving exciting innovation at the intersection of human capital, research and infrastructure. At the same time, Silicon Valley is in the midst of its own evolution, which is being further accelerated by the effects of COVID-19. In the center of these two parallel transformations, we see many rising opportunities for impact.
We believe we’re entering an era of more localized innovation and investment. In this new era, the most forward-thinking and impactful companies are just as likely to be created in the Middle East as they are in Silicon Valley. In response to this increasing regionalization, Silicon Foundry is proactively extending our reach into strategic ecosystems around the globe. In MENA, we are fortunate to have found a seasoned, respected and deeply connected local partner.
“Local partnerships are an important part of our strategy when we expand into new markets. 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.” — Steve Gotz, Silicon Foundry
Expanding Regional Coverage
At Silicon Foundry, we are fortunate to work with some of the world’s leading corporations to help them navigate the global landscape of emerging technologies, new platforms and business model shifts. As MENA becomes an increasingly important innovation ecosystem, we have expanded our Member base in, and coverage of, the region to ensure we are able to provide our Members the frontline strategic insights and connectivity they have come to trust and expect.
Enhance is one of the most sophisticated venture studios in the MENA region, and it is on par with the best venture builders in Europe, the U.S. and Asia. As it continues to scale its builder activities, Enhance’s team looks to leverage insights and best practices from mature ecosystems (e.g. Silicon Valley) that can be localized into the region. The Foundry platform, which lives at the epicenter of startup and venture capital activity, will allow Enhance to cut through the noise and provide targeted connectivity to leading companies and experts.
You can read more about our partnership in MAGNiTT, MENA’s leading provider of startup news, research and investment data.