Dubai, United Arab Emirates. 23 September 2022. Majid Al Futtaim is the world’s largest shopping mall, community, retail and leisure leader in the Middle East, Africa, and Asia. It has announced 14 winners and start-ups to its Launchpad accelerator program. The Launchpad programme covers three categories: Homegrown, Health and Beauty and Proptech. To increase their commercial viability in the region, the successful companies will be able to access unrivalled business growth incentives, mentorship programs and the vast Majid Al Futtaim Innovation Ecosystem to help them.
Majid Al Futtaim received 196 applicants from the MENAP region as well as globally after the announcement and open call for submissions with AstroLabs. The winners are The Bath Land and The Hair Addict. They were selected from 23 applicants who demonstrated ingenuity, originality, and great commercial potential.
Majid Al Futtaim – Holding Chief Corporate Development Officer Joe Abi Akl stated: “The Majid Al Futtaim Launchpad Initiative is a vital component of our ecosystem, nurturing entrepreneurship, supporting small and medium businesses in the pursuits of innovation, creativity and growth. This announcement today is a significant step in our mission of supporting small businesses in their quest to create new products or services that could eventually become our business partners or suppliers in the future. This programme will deliver a number of important benefits that support our vision of creating a global, sustainable, efficient, and effective business environment.
Roland Daher, chief executive officer at AstroLabs said that the Launchpad Program marks a significant milestone in our journey to accelerate innovation for industry leaders and grow through strategic expansion into new markets and customer segments. By integrating future-forward businesses into Majid Al Futtaim’s value chain, it is a key step in our mission of accelerating innovation in MENA. The involvement and commitment of Majid al Futtaim’s senior leadership as well as business unit heads was key to this initiative’s success. They worked closely with AstroLabs to identify potential market opportunities for these new businesses. To source the best offerings in each vertical and maximize potential, we engaged our global and local innovation network.
Majid Al Futtaim will continue to be a leader in the long-term growth of its business and economy through synergies.
Yahya Mohammed Saleh, Co-Founder and CEO of Boksha said that “Integrating Majid Al Futtaim with Boksha will help Boksha empower talent fashion designers through both online and offline channels, by leveraging the reputation and scale of a highly reputable regional company. We want Khaleeji fashion on the global stage. We have been underserved for a while and see huge potential to empower young designers with this meaningful partnership with Majid al Futtaim.
Rami Tabbara is Co-Founder of Stake. He said that today’s Launchpad event showed the region’s enormous potential in prop-tech. It is an honor to be named a winner. Majid Al Futtaim, the economic cornerstone of the region, is the reason why Stake was chosen to join its ecosystem. This is a proud moment that reflects all the hard work we have put in over the past 18 month. It allows our team scale up operations and gives us credibility as a member of the
Majid Al Futtaim supports our mission to become the most trusted real estate investment platform within the MENA region.
Anusha Mahtani is the co-founder of The Zola Collective. She stated that “the integration with Maid Al Futtaim’s diverse ecosystem has had a major impact on our business as a Launchpad Winner.” We are ready to launch our brand into mainstream after we have tested and tried all of our products. This achievement is a significant step towards achieving that goal. We will continue to build our community and make the right connections to support the growth and expansion Of The Zola Collective by tapping into Majid Al Futtaim’s network. If you look at the bigger picture, reaching the finals will make a significant impact on the course of our business. Every startup dreams of becoming international. Majid Al Futtaim’s regional footprint and the company it works with makes this dream come true.
Majid Al Futtaim launched the Launchpad program in its first round. It focused on core growth areas such as Homegrown Brands to support start-ups with unique stories; Health and Beauty, to identify and elevate start ups with innovative products and technology solutions that enhance the customer experience; and Proptech, to target start-ups offering innovative and sustainable solutions to optimise construction efficiency, digitalise residential communities, hotels spaces, and property development and to enhance shopping mall experiences.
The Launchpad initiative provides best-in-class mentoring to companies and supports them in growing their businesses quickly. It also attracts, nurtures, and supports world-class talent.