Many startups in Europe and MENA struggle to grow and internationalize their business despite having an innovative business model. In the MENA region, for example, except a couple of cases in the e-commerce businesses such as Careem and Souq, the (successful) tech firms are largely unable to grow outside their local market and effectively enter international (even neighbouring) markets. After careful market research, we came to conclusion that this is due to two main reasons: first, lack of international business expertise and experience and, secondly, lack of “smart capital” in the ecosystem.
Our solution is to solve these problems by providing the knowledge, network and capital needed for technology ventures to internationalize. As it can be seen in the graph below internationalization and growth needs access to several key resources. Somitra Ventures can provide best some of these key resources directly, such as coaching, finance, market and the rest indirectly through its links such as technology, community and talent.