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Meta has joined forces with Startupbootcamp to encourage the adoption of AI use cases in the MENA business landscape, which is predicted to generate up to $320B by 2030. The partnership will utilise Meta’s Llama 3.1 open-source Large Language Model (LLM) for innovation and product development and address key challenges businesses face in the region.
[August 1, 2024 — Dubai, United Arab Emirates]: Meta, a multinational technology leader, and Startupbootcamp, a leading startup accelerator with over 1,600 successful startups, have collaborated to boost MENA’s startup scene. This 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.
The program will consist of three four-week sprints conducted across the region—in the United Arab Emirates, Kingdom of Saudi Arabia, and Egypt. These cohorts will feature intensive capacity-building workshops and mentorship sessions to empower participating startups. Strategic partnerships with industry leaders, including RTA (The Roads and Transport Authority), Chalhoub Group, and Dubai Holding, have been forged to guide the definition of design challenges and explore cutting-edge solutions that leverage AI.
The program by Meta and Startupbootcamp addresses a critical need: bridging the gap between established companies and the dynamic world of AI startups to foster home-grown innovation using AI. Llama Design Drive allows 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.
Llama Design Drive offers a win-win situation for startups and corporations. Startups gain invaluable experience collaborating with leading companies on real-world challenges while leveraging Llama 3.1 to develop cutting-edge solutions. Corporations, in turn, benefit from the opportunity to explore and co-create solutions to some of their most pressing problems using this AI technology. Thus, the initiative aims to demonstrate the power of open-source collaboration between ecosystem players to create meaningful impact and unlock business value.
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 US$500,000 to support further development of their products.
"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," explains Ibrahim "Abe" Seksek, CEO MENA at Startupbootcamp."
The whole world is excited to see how AI can add value to people’s lives," said Joulan Abdul Khalek, Policy Programs Manager, Africa Middle East and Turkiye at Meta. "Llama Design Drive is a great example of how open source can bring people together to co-create meaningful AI solutions. By doing so, we hope to cultivate a thriving community of tech talent across the region, working with them to unlock the potential of these exponential technologies to address real-world challenges.”
MENA is well-positioned for AI adoption, with governments and businesses across the region beginning to realise the shift globally towards AI and advanced technologies. In absolute terms, the Middle East is expected to accrue 2% of the total global benefits of AI in 2030, with expected annual growth of 20-34% in the contribution of AI to GDP across the region.
The applications are open until August 30, apply HERE.
About Startupbootcamp
Startupbootcamp (SBC) is a global network of industry-focused accelerators that supports startups by providing direct access to a worldwide network of relevant mentors, partners, and investors. It has run 150+ programs in 27 countries since 2010 and is considered Europe's number 1 startup accelerator.
About Meta
Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions worldwide. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.
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