With your innovative services or products trying to enter the space of one thriving startup scene, it is crucial to know where your startups’ best interests lie; and what is the best course of action that will revolutionise how people live daily through your tech-based solutions. Identifying what you need early on, and settling on partnering with those who can help you propel your startup comes a long way; especially, if you chose Flat6Labs, and the reasons are many.
The resources available with partnerships help you ensure that your startup has garnered the necessary tools to scale. As you partner with Flat6Labs, you become one with an entity that has the experience of eight years accelerating +200 startups across the MENA region. This entails the expertise of Flat6Labs team, and the several bodies that support its existence like the Global Accelerator Network (GAN). With GAN’s connections to different experienced accelerators across the globe, it helps spread the know-how of highly technical and sometimes problematic issues.
Mitigating the Hurdles of Operating in the MENA Region
The expertise is just the tip of the iceberg, for in order to mitigate the common struggles that comes with regional or even global expansion; finding funds or mentors; finding a market need; outdoing competitors; or finding a team & getting exposed, it requires an expansive network spread across the entirety of the region. And, with GAN’s network of accelerators, it becomes across the globe as well.
One of the hurdles was identified in a research conducted by GetAutopsy on 60 MENA startups, which concluded that the main reason for 27.3% of startups failure was due to the inexistence of a market. A partner like Flat6Labs, can ensure that you take the necessary steps; be it pivoting or moving to a different market, all to avoid the startup’s early demise. Also, this kind of partnership allows you to ease your entry in a market that is more often than not resistant to innovative change that overtakes decades old manual processes.
Connecting to the Region and the Globe
Partnerships can enable startups expand beyond the borders of their origin; hence, highlighting and exposing their services and products to new markets. In fact, Flat6labs is one of the few accelerators in the MENA with regional and global reach. This network we pride ourselves in having is capable of, connecting our startups with government officials, investors, consultants, mentors, and even founders of startups like themselves who can on both regional and global levels — with the help of GAN network — offer unlimited support. This network also provides them with the tools to have soft landings in markets other than their own. You can take Rumman, a graduate of Flat6Labs Beirut program, as an example, which had a softlanding in Tunis because of Flat6Labs regional expansion and network!
Utilising Your Partner’s Network
Becoming one with such an entity, also means that the partnerships they have with investors, initiatives, and institutions can help startups explore new grounds and fund their operations.
Since finding talents is essential for growing startups, the Tunisian American Enterprise Fund Initiative (TAEF) partnership with Flat6Labs Tunis helps startups find the team that will help with its product/service development through its network. In one of our interviews with TAEF, the Chairman, said after Flat6Labs Tunis’ first Demo Day:
“TAEF has committed to serving all parts of the Tunisian small and medium business sector and this partnership is one of our important pathways for investment.” — Mr. Bowman Cutter, Chairman of TAEF.
While talents are important, the formula of success is derived from the many factors that come into play that’s why the partnerships your startup has with different entities contribute to your success. For example, through a network of local, regional, and international mentors and counselors, our partner, LE15 initiative of Meninx Holding, is capable of providing informative sessions that will help your startup kickoff. As well as, through their network, they can help you find potential clients/suppliers.
“Flat6Labs accelerator is opening up new horizons for these startups. We are very proud to support these high-potential entrepreneurs, and strongly believe that their energy, dedication, and innovation will help play a part in building the future of Tunisia.” – Mr. Mehdi Tamarziste, CEO of Meninx Holding.
Through different initiatives, such as OST, Bloommasters, Biatlabs and Endeaver, BIAT is supporting not only Flat6Labs, but the whole ecosystem by implementing the entrepreneurial mindset, and supporting entrepreneurs throughout the different stages of a startup.
Far into the Gulf, Tamkeen’s initiative to increase employment rates through encouraging startups is helping Bahraini startups develop plans, strategies, and build products/services that befit Bahrain’s market. This is done through the partnership they have with Flat6Labs Bahrain, and tailoring an acceleration program that is suitable for the Bahraini startup ecosystem.
Paving the way for many growth opportunities; increasing the chances of startups scalability; and pushing the startups into untapped markets has been a core drive of this partnership. This includes when Tamkeen helped send out three of Flat6Labs Bahrain startups: Innagrab, WNNA, and the Experience Accelerator to Silicon Valley to exhibit their products & services; network with a magnitude of professionals; and talk to bigwig, risk-taking investors.
Tamkeen’s belief in Flat6labs and efforts with it, is thoroughly illustrated through Tamkeen’s bigwig:
“We are delighted to have a world-class organization such as Flat6Labs, and look forward to enriching the experiences of Bahraini business by bringing global models and developing their business according to advanced and successful models of business accelerators.” — Dr. Ebrahim Mohammed Janahi, CEO of Tamkeen.
This partnership of sorts is helping curate a top-notch acceleration program that is supported by Tamkeen’s resources; knowledge of the local market; and funding, which will all contribute in creating more opportunities for our startups.
Developing Stronger Mindsets to Face Struggles Head On
It doesn’t exactly end with only two arms of a partnership aiding you through the onset of your life as a startup founder. Another arm would be the resourcefulness of our team when it comes to knowledge in helping in the creation of, solid business and financial models; the best ways to pivot; connecting you to investors; and sending you out on regional exhibitions to gain exposure. Also, mentoring you and your team through coaches & experienced mentors; creating workshops tailored to your field; and even finding you the best talents to help your startup progress with fresh minds!
Speaking of talents, GetAutopsy research also highlighted that one of the top three reasons for the startups failure was having a poor team incapable of developing the product/service. However, with Flat6Labs connections to a diverse network of professionals, this struggle becomes much easier to face head on.
With our network, regional exposure, and with GAN network of accelerators, Flat6Labs has demonstrated the ability to put its startup in front of investors at +30 demo days across the region. Over the last year alone, Flat6Labs’ startups received $1.3m of follow-on funding from different VCs, governments, and corporations.
The benefits you receive with partnering with a regional entity like Flat6Labs, puts you on a path filled with diverse growth opportunities that will enrich your startup with the necessary tools to flourish in a very competitive market.