Silicon Valley-based network startup accelerator and corporate innovation platform Plug and Play has teamed up with the Abu Dhabi Global Market (ADGM) to expand to the UAE before eventually strengthening its foothold in the MENA region.
Those of you keeping a tab on the evolution of the startup ecosystem in MENA may have noticed the sharp increase in the number of accelerators and incubators operating in the region. Be it Bahrain’s homegrown Bahrain FinTech Bay, the UAE’s Fikra Labs, or Kuwait’s Savour Ventures — there is simply no shortage of growth platforms in MENA today if you have a solid business idea and plan.
So naturally, it was kind of surprising, if not odd, when Plug and Play decided to hop in the somewhat saturated industry by joining forces with ADGM. However, the Silicon Valley firm believes that the time is ripe to tap in on the region’s fast booming startup scene.
Plug and Play has a roadmap ready for that vision and wants to kick off the process of turning that vision into reality by launching its signature FinTech innovation program sometime in Q3 2018.