With this move, OQAL, a Saudi-based Angel Investors Network, will now gain direct access to Flat6Labs portfolio startups. Among other things,it will pave the way for more deals for these startups while they scale their businesses with the funding provided by OQAL-affiliated investors.
Under the new partnership, Flat6Labs and OQAL have jointly set a few criteria that the portfolio companies must adhere to so they can efficiently accelerate. These criteria include, but not limited to:
- Solving at least a specific real-world problem
- Having a working prototype of their products and/or services.
- Having a resourceful team that compliments one another.
- Having reliable technology at the core of their operations.
- Formulating a clear and concise roadmap.
- Gaining traction for the solution on offer.
We are very excited about our partnership with OQAL today. It marks another building block in our mission to help our startups grow and scale toward their desired markets in MENA and specifically the GCC” said Ramez El-Serafy, CEO at Flat6Labs.
“As one of the first and largest Angel Investor Networks in Saudi Arabia, we’re confident in what this partnership with OQAL will garner in terms of exciting investment opportunities for Flat6Labs’ startups and OQAL’s network of angel investors,” he added.