MENA – Crescent Enterprises’ internal business incubation platform, CE-Creates has completed the merger of hatch & boost, an Abu Dhabi-based venture-builder in the first merger of its kind in the Middle East.
The partnership, operating under the new name hatch & boost Ventures, will see the acceleration and growth of seven portfolio startups this year, spanning across agritech, sustainable mobility, femtech, foodtech, and fintech, among other sectors.
The new entity plans for further expansion across the region in the coming years particularly in Egypt and Saudi Arabia.
The merged portfolio currently includes World of Farming, a foddertech solutions provider; ION, a sustainable transportation provider; BreakBread, a supperclub digital platform.
It also includes Kava and Chai, a specialty coffeehouse; RE:, a feminine care platform; TipiT, a digital token tipping application; and Shamal, a high-tech workwear brand.
Driven by sustainable and social impact, hatch & boost Ventures will be working to further establish and scale up to five new start-ups per year.
In just under two years, hatch and boost created and scaled its own startups through a sector-agnostic model that focuses on solving the world’s most pressing environmental and social challenges.
Meanwhile, CE-Creates, since its inception in 2018, has been committed to developing numerous early-stage concepts that address complex niche problems within local communities, targeting scale, profitability, and measurable impact.
It focuses on establishing foundations for resilient growth and catalyzing product innovation and scale.
“We are delighted to join hands with hatch & boost to strengthen our combined dedication to scale impact-driven startups across the region,” said Samer Choucair, Director of CE-Creates.
“The company’s unwavering commitment to transforming businesses underpinned by sustainable practices closely aligns with our values. By joining forces, we will empower exceptional local entrepreneurs and home-grown innovation to build strong, more impactful businesses to thrive in future economies.”
The newly joint venture-builders have long operated with a commitment to embedding the United Nations’ Sustainable Development Goals throughout their processes.
Also, in line with the UAE’s ambitions to become a global hub of sustainable economic development, Crescent Enterprises partners with innovative and purpose-driven entrepreneurs, creating the infrastructure and environment for new businesses to thrive, which in turn increases the economic competitiveness of the region.
The announcement of the merger with hatch & boost, for the formation of hatch & boost Ventures, is a further step toward achieving this vision.