Together, Meta and Startupbootcamp want to fortify the MENA region’s startup ecosystem. Through the introduction of cutting-edge AI technology through the launch of Llama Design Drive, a program specifically designed to meet the demands of the MENA area, this cooperation seeks to support local companies.
Program participants may be expedited into a global initiative supported by Meta. They might get up to $500K in funding to advance the development of their goods.
The program is meant to offer all-encompassing assistance. Three four-week sprints will be held in Egypt, the Kingdom of Saudi Arabia, and the United Arab Emirates. In-depth capacity-building workshops and coaching will be provided throughout these sessions to make sure participating entrepreneurs get the support and guidance they need along the way.
In order to support domestic innovation utilising AI, Meta and Startupbootcamp have partnered to close the gap between established businesses and AI startups. With Llama Design Drive, MENA companies could develop transportation, aviation, energy, retail, and real estate solutions by leveraging Meta’s open-source Llama 3.1 model.
The Middle East is predicted to benefit from AI in absolute terms by 2% of the world’s total benefits in 2030, with a projected yearly rise of 20–34% in the sector’s GDP contribution.
Google also announced their cohort for African startups using AI two days ago. A shortlist of ten startups that are using AI technology to address problems in different sectors of the continent was created. An increasing number of international IT behemoths are anticipated to enter the race in Africa due to the increased focus on AI globally.
