The SME Story: Faris Mesmar, co-founder and managing partner of hatch & boost

What is the concept behind hatch & boost?
We are an Abu Dhabi-based venture builder dedicated to hatching startup ideas and boosting them into scalable ventures in the Middle East. We employ a model which offers hands-on support from a startup’s earliest stages through to taking them to market. Having already launched two successful tech startups, with another three in stealth, we aim to fill the gaps in early-stage startup development and reduce the rate of startup failure through the utilisation of a shared pool of resources: ultimately lowering the startup capital cost. This model also aims to nurture home-grown talent and entrepreneurship.

What were you doing before you co-founded the company?
I started my career in Jordan with Aramex and it thrust me into forming an entrepreneurial mindset which grew throughout my time with the company. I later joined an Aramex-acquired startup, Infofort, as VP of Sales in which I led the expansion strategy, in addition to launching and growing new business products and revenue streams across 23 cities from South East Asia to West Africa. Starting hatch & boost was the appropriate next step, as I wanted to find a way to bridge the gap between early-stage startup ideation and sustainable venture growth; supporting local talent while providing a model that is ESG-focused.

What are some of the categories of startups that you will focus on?
While we are generally sector agnostic, we heavily focus on ventures that fall within the intersection of technology and impact. Currently in the seed stage, hatch & boost has already co-founded two successful startups in this space, particularly in femtech and agritech.

World of Farming (WoF) is an agritech startup, on a mission to address animal feed production and supply chain challenges facing all types of livestock farming. My Lily Box meanwhile is an all-in-one female hygiene and self-care femtech platform on a mission to de-stigmatise female health in the region, providing women with access to personalised healthcare content and products.

Which are some of the other startups that hatch & boost will support?
At hatch & boost we are focused on building startups that utilise technology and innovation to creatively solve regionally relevant problems. While we don’t limit ourselves to a particular industry vertical, all our startups must fall in line with environmental and social governance (ESG), and focus on cleantech, as well as foster a circular economy approach.

We fund these startups by deploying early-stage capital that is invested into taking them to market. We will soon be launching a venture fund to further support our startups.

What are the expansion plans you have in place for the business?
Our test market is the UAE and we have been operating here predominantly for the last year. However, we do plan to expand to larger markets within the region in the future. Saudi Arabia is on our radar. Whether it’s from a B2B or B2C perspective, the market is ready to accommodate new business models and support the startup ecosystem with strong government backing. We also see great potential in Egypt, a market with a booming startup scene, and the potential to be one of the most lucrative.