- The initiative aims to bring enablement for tech startups in India and the MENA regions
- Microsoft for Startups Middle East and UAE-based StartupScale360 have joined INDO-MENA Corridor as the Ecosystem Partners
- Andra Public Relations, Bahrain has joined the initiative as the Supporting Partner
Delhi, India-based LAFFAZ Media, an entrepreneurship platform has recently launched INDO-MENA Corridor (IMC), an initiative focused on Indian and MENA (Middle East & North Africa) startup ecosystems – aiming to progressively connect tech startups with potential investors, and advisors through a seamless application process accompanied with knowledge-sharing delivered through a series of virtual events.
The INDO-MENA Corridor came into implementation during the early-COVID period and it took six months to bring it into existence. The news startup approached various ecosystem enablers to join forces as Ecosystem Partners and received positive responses from Microsoft for Startups Middle East, a dedicated program for MENA-based B2B startups to help them successfully scale their companies; and StartupScale360, UAE-based startup ecosystem builder that connects all key stakeholders, founded by Swethal Kumar, former VP of Mubadala and ex-Hub71. The first episode of IMC virtual events ‘Introducing INDO-MENA Corridor’ on February 03, 2021.
The initiative is further empowered by Andra Public Relations, Bahrain, as the Supporting Partner.
IMC arises as an extension of the ever-booming bilateral trade partnership between India and the Gulf Cooperation Council which stood at $121.34 for the financial year ending 2019. Bilateral trade between India and the UAE alone stood at $57 billion by late 2018. And it is widely known that India is UAE’s second-largest trade partner.
According to the Embassy of India Bahrain, Indian nationals constitute 30 percent of the total population of Bahrain. The country in recent past years has been incubating tech startups from India and other countries, and continuously rolling out liberal policies and initiatives to support the tech startup ecosystem in the kingdom. On top of that, some prominent Indian corporates expanded to Bahrain include Tata Consultancy Services, Tech Mahindra, Wipro, SBI Life Insuran