Middle East Market Accelerator
Utah is, in many ways, the “crossroads of the world.” The state’s diverse economy continues to attract innovative companies and talented workers with international experience and ambition.
As one of the fastest-growing innovation ecosystems in the nation, the life sciences community in Utah is making a global impact. The Middle East Market Accelerator (MEMA) is specifically designed to build deep connections between Utah and markets throughout the Middle East.
MEMA was initially established through the International Trade Administration’s MDCP grant, administered by World Trade Center Utah. Sponsored by BioHive, Utah’s life sciences business collective, MEMA works to develop infrastructure that facilitates entry into Middle East markets and builds partnerships with key stakeholders in the region.
The Middle East Market Accelerator will comprise annual cohorts of five Utah life science companies, and the process for their market development is as follows:
- Cohort selected/approved by MEMA Board
- Phase 1: Market Selection for Cohort
- Phase 2: Market Entry Strategy for Cohort
- Phase 3: Market Execution for Cohort
- Participation in trade shows and/or trade missions in target markets to meet with local experts, stakeholders, potential business partners, etc.