Dubai— May 16, 2019 — Enhance, the venture builder for the Middle East, today released its white paper, “Startup Studios – Innovating Innovation”. The white paper stems from Enhance’s continuing research on the startup studio (aka venture builder”) model as a new norm in reducing the cost and risk of building startups.
“Only 0.1% of startups and 10% of venture capital funds provide venture returns. We at Enhance believe that there is a better model to build startups especially in fragmented markets such as the Middle East,” said Alper Celen, Founder at Enhance. “We believe startup studio model is a new norm that increases the chance of success for startups through sharing of expertise and resources.”
Startup studios are based on the principle of sharing know-how and resources across multiple ventures to increase their viability. Shared resources include marketing know-how and databases, technology, funding, and talent. Startup studios have become common with 178 studios operating currently around the world with about half in the US and Europe rapidly catching up. Startup studio funding is also increasing dramatically with 8 top-tier studios including Atomic, Betaworks, Entrepreneur First, Expa, Forward Partners, Pioneer Square Labs, Rocket, and Science having raised more than USD3B in funding from brand name institutional and super angel investors.
“Our research shows that the startup studio model is accelerating and here to stay,” said Ritesh Tilani, Founder at Enhance, “about half the studios around the world were founded in the last 4 years and funding for studios is increasing even faster.” The movement is also formalizing and sharing best practices among the studios with the formation of the Global Startup Studio Network which Enhance has joined in March as a founding member.
The white paper “Startup Studios – Innovating Innovation” includes startup studio model history, design principles, success factors, and numerous case studies. To download the white paper for free, please visit www.enhance.online .
Founded in 2016, Enhance is the venture builder for the Middle East. The company specializes in building online vertical marketplaces for the Middle East. Enhance’s first venture joi (www.joigifts.com) is the largest online gifting platform in the Middle East live in seven countries (UAE, KSA, Jordan, Lebanon, Egypt, Bahrain, Oman) and is growing rapidly selling brand name flowers, chocolates, cakes, gourmet products, unique gifts, and experiences with a concierge -style delivery experience.
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