Consultancy Accenture has linked up with Global Ventures, the UAE venture capital firm backed by Mubadala Investment Company, to promote innovation in the region.
The companies said that they will work together to develop thought leadership, enhance research capabilities and uncover innovative insights and trends in industries that drive new growth opportunities.
This is Accenture’s first venture capital partnership in the Mena region.
The Dublin consultancy also plans to work with Global Ventures’ portfolio of “growth-stage start-ups and explore potential collaboration”, said Alexis Lecanuet, Accenture's managing director in the Middle East.
“This synergy will enable Accenture to further drive innovation in the region’s venture capital space through supporting entrepreneurs with the company’s in-depth insights and research,” he said.
As FinTech evolves, payment options are developing rapidly worldwide.
The partnership will ensure Global Ventures' portfolio companies have access to Accenture’s expertise in innovative solutions.
Accenture’s clients will benefit from emerging technology developed by companies within the Global Ventures portfolio.
“We are delighted to join forces with a world-renowned company such as Accenture as its first VC partner in the Mena region,” said Noor Sweid, founder and general partner of Global Ventures.
“By combining our regional venture capital expertise and thought leadership with Accenture’s pioneering insights and global presence ... we are confident we will grow the regional venture capital ecosystem together.”
Founded in 2018, Global Ventures has invested in founders and ideas across emerging markets.
Its portfolio companies include Arrow Labs, Buseet, Elmenus, FloraNow, Ogram, Paymob, Tribal, Zension, Helium Health, HolidayMe, Kitopi, Mumzworld, Spidersilk and Tabby.
Global Ventures and Accenture expect to benefit from shared insights.
The two companies are already working together to produce research reports in the fields of education technology and FinTech.
Sourced from N Business - written by Alkesh Sharma