MENA: Unlocking Synergies and Growth through Internal Innovation and Strategic Startup Investments

Driving Growth through Innovation Strategy & Roadmapping

Well, they’re all mythical!

As MENA economies undergo rapid transformation, businesses are increasingly recognizing the need for structured innovation strategies to maintain competitiveness and drive long-term growth. However, many companies struggle to embed innovation into their core operations. By diagnosing innovation capabilities and pinpointing gaps, organizations can develop a clear, actionable roadmap that fosters a culture of experimentation, agility, and resilience.

Innovation strategy and roadmapping provide companies with the structure needed to identify emerging opportunities and integrate them into their long-term growth plans. Whether through incremental improvements or disruptive transformations, embedding innovation into a company’s DNA enhances adaptability in an era of digital and industrial revolutions.

Use Case: Successful Innovation Strategy in MENA

A prime example of innovation strategy success in MENA is Saudi Aramco, which has embedded innovation at its core through strategic R&D investments and its Wa’ed Ventures initiative, fostering new technologies and high-growth startups. Similarly, Emirates NBD has revolutionized banking innovation through its digital-first approach, launching its Liv. digital bank to enhance customer experience and fintech collaboration. These companies illustrate how structured innovation roadmaps can lead to long-term competitiveness and resilience.

Corporate Venture Capital (CVC): A Strategic Lever for Expansion

Corporate Venture Capital (CVC) is emerging as a crucial tool for MENA businesses seeking sustainable competitive advantages. Instead of relying solely on internal R&D, leading companies are leveraging startup investments and internal ventures to tap into new technologies and business models.

By identifying high-potential startups for acquisition or strategic partnerships, organizations can seamlessly integrate innovative solutions into their value chains. This approach enhances market positioning and creates synergies between corporate resources and entrepreneurial agility. Moreover, with de-risked financing models and strategic foresight, MENA companies can maximize investment returns while aligning with their long-term corporate vision.

In Jordan, Hikma Ventures, AB Invest, and Ahli Fintech serve as prime examples of effective CVC strategies. Hikma Ventures invests in cutting-edge health tech startups, aligning them with Hikma Pharmaceuticals’ core business while driving industry-wide innovation. AB Invest strategically backs high-growth startups, reinforcing its role in fostering a dynamic investment landscape. Meanwhile, Ahli Fintech, backed by Jordan Ahli Bank, accelerates fintech innovation, integrating startup solutions into the bank’s operations to enhance digital transformation. These CVC models illustrate how corporations can gain a competitive edge by embedding strategic startup investments into their growth strategies.

Corporate Innovation Programs: Turning Ideas into Scalable Impact

To sustain a culture of innovation, businesses must go beyond isolated R&D initiatives and build structured corporate innovation programs. These programs empower employees, leaders, and external innovators to co-create solutions that address real market challenges.

Successful corporate innovation programs embed bold thinking, risk-taking, and experimentation into daily operations. By fostering a collaborative environment where ideas can be tested, refined, and scaled, companies can ensure that innovation moves beyond ideation to become a catalyst for tangible business growth.

Use Case: Corporate Innovation Programs in MENA

An outstanding example of corporate innovation in MENA is Majid Al Futtaim’s Innovation Hub, which actively fosters new retail and consumer experience technologies. Additionally, Saudi Telecom Company (STC), has built robust innovation programs to explore next-gen digital services, cloud computing, and AI-driven solutions. These efforts have helped transform traditional businesses into digital powerhouses, demonstrating the potential impact of structured innovation programs.

BOT: Incubation & Acceleration – A Plug-and-Play Model for Innovation Success

MENA corporations and government entities often recognize the power of startup incubation, acceleration, and innovation hubs but lack the capabilities to build and operate them effectively. hea Global specializes in the Build, Operate, Transfer (BOT) model, providing end-to-end execution of incubation and acceleration programs for clients looking to establish impactful innovation ecosystems.

Through the BOT model, hea Global partners with corporations, governments, and investment firms to design and implement world-class programs, ensuring strategic alignment, operational excellence, and long-term sustainability. Clients can leverage hea’s deep expertise in innovation strategy, venture building, and investment facilitation to de-risk execution and maximize impact.

Use Case: Incubation & Acceleration in MENA

The Qatar Science & Technology Park (QSTP) is a prime example of how structured incubation and acceleration programs can drive innovation. By building and operating world-class startup programs, QSTP has nurtured high-impact startups across various sectors, from fintech to energy technology. Similarly, Mubadala’s Hub71 in Abu Dhabi has emerged as a leading startup hub, providing structured support, funding, and market access for startups looking to scale within the region.

With hea Global’s BOT expertise, clients can replicate and enhance such models, developing tailored incubation and acceleration programs that align with corporate and national innovation agendas while ensuring seamless knowledge transfer and sustainability.

Startup XP Growth Engines: Scaling with Innovation-Powered Growth

In an increasingly competitive business landscape, leveraging innovation-powered XPonential Growth Engines can help businesses unlock new market opportunities, refine go-to-market strategies, and strengthen market positioning.

By utilizing AI-driven growth mapping, automation, and data intelligence, companies can enhance customer experience, accelerate expansion, and build sustainable competitive advantages. MENA companies looking to scale must harness these engines to drive product-market fit, internationalization, and overall scalability.

The Future of Innovation-Driven Growth in MENA

With strategic innovation roadmaps, corporate venture capital initiatives, structured corporate innovation programs, and scalable startup engagement models, MENA businesses can future-proof their growth strategies. By fostering internal innovation and leveraging high-potential startup investments, the region is poised to become a global leader in business transformation and sustainable economic development.

For organizations looking to unlock synergies and drive meaningful impact, the time to act is now. By integrating innovation into their core strategies, companies can turn emerging challenges into opportunities and position themselves at the forefront of MENA’s evolving economic landscape.

This article was produced by Rezeq Asali, Managing Partner at hea Global, a leader in driving innovation strategy and venture building across the MENA region.