Why corporates should seek out startups… and collaborate

Start-ups have played an integral role in helping industries and consumers navigate the COVID-19 pandemic. During a time that has required swift action amid unprecedented uncertainty, innovative new businesses identified opportunities to introduce fresh products and services that will outlast the pandemic era.

Take the e-grocery and edtech spaces, for example. Although they existed before the pandemic, the need for these services during lockdowns effectively helped larger businesses to continue to operate, while introducing thousands more consumers to more convenient ways of doing things.

Indeed, start-ups will be key drivers in the journey to the next normal. The record-breaking investment in start-ups in the Middle East alone shows as much, with FinTech and FoodTech leading the charge toward the $2 billion in start-up funding that is forecast for the region. It’s the same in Africa, where more than $1.1 billion has been raised by tech start-ups so far this year.

To further this momentum and design a future led by innovation, partnerships between start-ups and large corporates will be paramount. Tech start-ups can provide creative ways for corporates to solve pressing problems that align with the organisation’s wider digital transformation strategies. And the start-ups benefit from increased resources, which give them the opportunity to scale up, create jobs and drive economic growth.

This win-win situation is precisely why Microsoft for Start-ups was launched. Our program provides entrepreneurs and founders of?start-ups?with the cloud resources and mentoring they need. We also connect tech start-ups with some of the biggest corporations in the region, all of which have a specific problem to solve and are looking to creative start-ups to provide the solution.

We do this through programs like the GrowthX Accelerator . Launched as part of a larger strategic partnership between Microsoft and Abu Dhabi Investment Office (ADIO), the 12-week program empowers B2B start-ups with the technology, mentoring and market access they need to thrive in the new global digital economy. GrowthX received more than 2,500 applications from the region, and we just announced its first cohort that consists of 15 startups that will hit the ground running, offering breakthrough solutions that meet corporate clients’ challenges and requirements. In this cohort we’re working with leading organizations such as Etihad Airways, Unilever, Flow, Akbank, KPMG and IKEA as our partners to bridge the gap and bring both, corporate and startup ecosystems together.

Another one was our ‘Highway to 100 Unicorns’ the region’s largest virtual tech conference that featured more than 85 speakers across 35 sessions and bringing together 1500+ attendees from all over the world to attend talks, participate in workshops, and network.

No doubt, we are entering an exciting period where opportunities will be found round every corner for corporations and innovative tech entrepreneurs to work together to design the future. At Microsoft for Start-ups, we will continue to do our part in facilitating these partnerships and in helping to drive our region forward.?