Riyadh – Sharikat Mubasher: Global tech giant Meta and Startupbootcamp, a leading startup accelerator, announced a collaboration to boost MENA’s startup ecosystem.
The strategic partnership aims to empower local startups with cutting-edge AI technologies by launching Llama Design Drive, a program specifically designed to address the needs of the MENA region, according to a recent press release.
The program will consist of three four-week sprints conducted across the region – in the UAE, Saudi Arabia, and Egypt.
The Meta- Startupbootcamp program is aimed to address a critical need: bridging the gap between established companies and the dynamic world of AI startups to foster home-grown innovation using AI.
The companies said Llama Design Drive will allow MENA startups to use Meta’s open-source large language model, Llama 3.1, to develop products that tackle real-world challenges in mobility, aviation, energy distribution, retail, and real estate.
Startups recruited into the program will have the opportunity to be fast-tracked into a global program sponsored by Meta, with the chance of receiving up to $500,000 to support further development of their products.
Ibrahim ‘Abe’ Seksek, CEO of MENA at Startupbootcamp said: “Our program not only promotes the adoption of AI technologies to develop solutions for corporate challenges but also facilitates connections between startups, corporates, and industry experts to expand networks and gain valuable knowledge and technical skills,”
Joulan Abdul Khalek, Policy Programs Manager, Africa Middle East and Turkiye at Meta, said the whole world is excited to see how AI can add value to people’s lives.
He continues: “Llama Design Drive is a great example of how open source can bring people together to co-create meaningful AI solutions”.
The initiative comes at a time when MENA is well-positioned for AI adoption, with governments and businesses across the region beginning to realize the shift globally towards AI and advanced technologies.
In absolute terms, the Middle East is expected to accrue two percent of the total global benefits of AI in 2030, with expected annual growth of 20-34 percent in the contribution of AI to GDP across the region, according to a PwC study.