Accenture (NYSE: ACN) and Global Ventures, a UAE-based venture capital firm, today announced a strategic partnership. The partnership reflects Accenture’s commitment to innovation in the region and its aim to provide its clients with an edge in their transition to a new normal in the future.
Accenture and Global Ventures have identified three areas of collaboration to create long-term value within the regional innovation ecosystem. These include working closely together to develop thought leadership and research and uncovering insights and trends in industries where innovation drives disruption and opportunities. Accenture will also bridge its existing clients, spanning fields including cloud and security, with Global Ventures’ portfolio of companies to address pressing business challenges.
The new partnership will provide Global Ventures portfolio companies with access to Accenture’s international network and expertise in facilitating innovative solutions. Accenture’s clients will benefit from the companies within the Global Ventures portfolio and utilize emerging technologies.
This will be the first of a number of new collaboration partnerships Accenture will establish to drive greater innovation in the region.
Alexis Lecanuet, regional managing director for Accenture in the Middle East, said: “We are proud to announce Accenture’s first venture capital partnership in the Middle East and North Africa region. This synergy will enable Accenture to further drive innovation in the region’s venture capital space through supporting entrepreneurs with the company’s in-depth insights and research and providing unmatched industry expertise and counsel. We look forward to working with Global Ventures’ portfolio of growth-stage startups and exploring potential collaboration.”
Noor Sweid, Founder & General Partner of Global Ventures, said: “We are delighted to join forces with a world-renowned company such as Accenture as its first venture capital partner in the MENA region. By combining our regional venture capital expertise and thought leadership with Accenture’s pioneering insights and global presence, we are confident we will grow the regional venture capital ecosystem together.”
Global Ventures and Accenture expect more shared benefits from the increased collaboration in insights sharing. The two companies already work together on research reports in the burgeoning EdTech and FinTech sectors.