DUBAI – SC Ventures by Standard Chartered, which builds and invests in breakthrough ventures in and beyond banking,  has signed an MOU to collaborate with Microsoft to enable digital commerce and financing for SMEs, through exploring the co-creation of  AI and cloud based solutions. The collaboration will be spearheaded through one of SC Ventures’ portfolio companies, Project Hal, which will be a B2B SME focused platform, headquartered in the UAE.

SMEs are a significant force in the UAE economy, powering more than 60% of the UAE’s non-oil GDP. Yet, many struggle to grow and access formal finance options due to credit history, manual processes and fragmented data. Project Hal, supported by Microsoft, aims to help in closing this gap with AI-driven SME solutions. These will include exploring solutions such as customer behaviour analytics secure data sharing, and digital touchpoints supporting SMEs, to fuel the region’s next wave of growth. Hal aims to be a 'born-in-AI' growth platform for SMEs in GCC. The platform will be a conversational, agentic-first platform enriched with a partner ecosystem powering cross-border trade.

Through this collaboration, Microsoft and SC Ventures aim to leverage their respective strengths to build the Hal platform and offer scalable technology solutions for SMEs, starting in the Middle East region. SC Ventures will bring its expertise in building and scaling SME-led ventures and Microsoft will bring technology leadership, with a focus on AI.

Alex Manson, CEO of SC Ventures by Standard Chartered, said: “Commerce, supply chains and SMEs are the lifeblood of a nation, and SC Ventures has long focused on enabling this ecosystem through access to better financing. With Microsoft’s support in creating AI-native solutions, we will help SMEs grow in an easier and more efficient manner.”

The collaboration will be focused on exploring ways to support SMEs through innovative technologies, including AI, collaborating on solutions for providing access to e-commerce and embedded financing, reaching businesses which would benefit from joint go-to-market efforts.

Rodrigo Kede Lima, President of Microsoft Asia, said: “Microsoft's collaboration with SC Ventures empowers small and medium-sized enterprises with advanced cloud and AI technologies. By unlocking new avenues for innovation and growth, we’re reinforcing our commitment to helping businesses of every size thrive in an AI-first world.”

About SC Ventures

SC Ventures builds and invests in breakthrough ventures in and beyond banking. SC Ventures by Standard Chartered provides a platform for organisations to collaborate and co-create fintech ecosystems to reimagine the future of finance. 

For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn. 

About Standard Chartered

We are a leading international banking group, with a presence in 54 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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