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FOUNDATION FORSUCCESS DANE BAKER/ Chief Commercial Officer Kama Capital P.18 April 15, 2025 AI REVOLUTION IN SAUDI ARABIA/ Publicis Sapient’s Ashwaq Alshathri P.48 MISSION-DRIVEN/ Rakan Armoush, founder of FJR AI P.15 CREATING CONFIDENCE/ Dr. Cherif Massoud, CEO, BASMA P.26
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3 April 15, 2025 / ENTREPRENEUR.COM / Contents/April 15, 2025 P.18 Building Standards, Not Shortcuts KAMA CAPITAL Chief Commercial Officer DANE BAKER is leading one of the region’s most admired brokers into a new era. P.15 Man of a Mission RAKAN ARMOUSH on founding medical platform FJR AI. P.26 Creating Confidence DR. CHERIF MASSOUD, CEO of digital dental startup BASMA, shares how his company is enabling access to affordable remote professional orthodontic treatments, all under the supervision of doctors. FEATURES → DANE BAKER is the Chief Commercial Officer at Kama Capital.
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10 / ENTREPRENEUR.COM / April 15, 2025 Contents April 15, 2025 P.33 Building Blocks From bootstrapping to billion- dollar valuation: Lessons from Infobip. P.38 Creating Pathways A look at how art-secured lending provides liquidity to the art market. P.40 Unleashing Potential The future of PR agencies is hybrid. Here’s how entrepreneurs can adapt. P.42 Think Forward Seven key lessons for aspiring entrepreneurs to turn vision into success. P.58 All the business news from in and around the region that you absolutely must know about! ‘TREPONOMICS IN THE LOOP P.48 Saudi Arabia’s AI Moment Saudi Arabia driving a regional tech revolution. P.51 Abu Dhabi-based champion of AI - G42 G42 on why the sports market offers huge potential. P.53 AI-conditioned robots are coming Why large behavior models are the key to advancement in AI. P.55 The UAE's AI Journey The UAE’s goal is to become one of the world leaders in AI by 2031. INNOVATION SURGE EXPLORING THE POWER OF AI CEO Wissam Younane wissam@bncpublishing.net MANAGING DIRECTOR Rabih Najm rabih@bncpublishing.net ART DIRECTOR Simona El Khoury EDITOR IN CHIEF Anil Bhoyrul anil@bncpublishing.net MANAGING EDITOR Tamara Pupic tamara@bncpublishing.net FEATURES EDITOR Aalia Mehreen Ahmed aalia@bncpublishing.net REGIONAL DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net DIRECTOR OF INNOVATION Sarah Saddouk sarah@bncpublishing.net GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa jo@bncpublishing.net HEAD OF PARTNERSHIPS Samir Glor Samir@bncpublishing.net COMMERCIAL LEAD Anna Chipala anna@bncpublishing.net COLUMNIST Tamara Clarke CONTRIBUTING WRITERS Fida Chaaban, Rakan Armoush, Silvio Kutic, Steven Hawkins, Hanae Ouakrime, Adel El Mawla, Ashwaq Alshathri, and Tomoko Yokoi. SUBSCRIBE Contact subscriptions@bncpublishing.net to receive Entrepreneur Middle East every issue COMMERCIAL ENQUIRIES sales@bncpublishing.net ENTREPRENEUR.COM Access fresh content daily on our website All Rights Reserved 2025. Opinions expressed are solely those of the contributors. Entrepreneur Middle East and all subsidiary publications in the MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Entrepreneur Media Inc. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission of the publisher. Images used in Entrepreneur Middle East are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock. Printed by United Printing and Publishing. PO BOX 502511 DUBAI, UAE P +971 4 4200 506 EntMagazineME Entrepreneur-me P.30 Executive selection From better goods to better wardrobe bests, we choose a few items for executives to consider.
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12 / ENTREPRENEUR.COM / April 15, 2025 Editor’s Note/ B ack in 2022, when on the second day of LEAP22, Saudi Arabia has announced Ignite, a new program for digital content creation and production, nobody really took much notice. Never mind that it was backed by US$1.1 billion in investment. It was just one of several mega announcements made at the event. The program would include new investments and support for next-generation connectivity and communications infrastructure, and a new partnership that would see Trend Micro open its regional headquarters in Riyadh. The investment was part of Saudi Arabia’s plans to accelerate its digital ecosystem and leverage its position in the MENA region to become a leading international digital economy. The aim was simple: transform Saudi Arabia into a leading digital entertainment and media production hub. So three years on, how’s it all gone? Pretty well I would say. The Saudi creator economy grew by 32.37% in Q1 2025, fueled by influencer marketing, content-driven commerce, and the increasing adoption of user-generated content (UGC), an industry report said. Video content is at the forefront of this expansion, according to the joint study by Admitad and Stllr Network. Among social platforms, TikTok has seen the highest growth in influencer-driven orders, with its penetration is estimated to be a staggering 88% of the population. X, formerly Twitter, increased by 17%, followed by Instagram with a 12% rise, while Telegram has grown by 10%. The fastest-growing content niches according to Stllr Network, include beauty, which has grown by 56 percent, lifestyle by 45.8% and fashion by 18.2%. While fixed payments remain common, Saudi influencers are increasingly incorporating performance- based marketing as an additional collaboration model, the report said. Many now adopt a hybrid approach, combining fixed fees with the CPA (cost-per-action) model, where they earn based on real sales and conversions, it said. Whilst the details and numbers are hugely interesting, what is more remarkable is how, over the past three years, Saudi Arabia has become one of the world’s biggest hubs for content creators. Not only are they now a huge contributor to the country’s economy and growth, but it is an industry that is providing endless opportunities for young people. By 2030, most experts forecast that content creators will be generating over US$1.5 billion of revenue each year. That makes it the fastest growing content creation market in the Middle East. It is a remarkable story, and one which still has a long and prosperous way to go. Anil Bhoyrul Editor-in-Chief SAUDIS ARE BECOMING THE KINGS OF CONTENT The Kingdom’s content creator industry is growing at incredible pace.
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15 April15 2025 / ENTREPRENEUR.COM / Man of a Mission Rakan Armoush went from discovering his passion for coding during his first semester at university to co-founding FJR AI, one of the most talked about and admired new platforms in the medical community. He explains how his journey began, and his long term plans for the company ← Rakan Armoush is a co-founder of FJR AI. IMAGES COURTESY FJR AI
16 / ENTREPRENEUR.COM / April 15, 2025 B/The Big Idea I discovered my passion for coding during my first university semester in an introductory computer science course. I quickly developed the ability to understand code and translate word problems into programs with ease. From there, I built my skills by taking courses and solving problems. After completing an introductory course in data science, I began diving deeper into data science and AI by building my expertise through courses, projects, and then participating in competitions. Between my second and third years, I challenged myself by taking the AWS Machine Learning Specialty exam. According to the AWS website, this exam targets individuals with more than one year of experience in developing, architecting, or running machine learning/deep learning workloads in the AWS Cloud. By passing it, I became the youngest person in the region to do so at the time (2021). After earning this certificate, I began consulting for businesses on how to imple- ment AI to enhance their processes and drive business decisions. I consulted for multiple entities across various sectors—from governments and Fortune 500 companies to startups. I have also authored two scientific papers that combine explainable AI and cybersecu- rity. Additionally, I completed projects that I demonstrated to His Majesty King Abdullah II of Jordan, as well as to govern- ment and army entities. After graduating, I worked at Microsoft, which opened my eyes to the global implementa- tion of AI. → FJR AI is a platform that helps doctors capture their medical notes simply by recording conversations, allowing them to focus more on patient care.
17 April 15, 2025 / ENTREPRENEUR.COM / In May 2024, a friend studying medicine reached out to discuss a problem he was encountering at work related to documenting medical conversations. He wondered if AI could solve it. This conversation led to the founding of FJR AI, a platform that helps doctors capture their medical notes simply by recording conversations, allowing them to focus more on patient care. FJR AI became the number one app in the Medical Category on the App Store in Jordan within the first four days of its release. After deciding to launch the app, my partner and I visited multiple clinics in Jordan to develop it based on their input, ensuring that we are providing genuine value. Today, FJR AI has more than 500 users. This growth has taken place since November 2024. My long-term vision is to build a healthcare data company that revolution- izes healthcare efficiency, and utilizes the data to optimize health outcomes in individuals. I can’t predict exactly where AI will be in five years, but I am confident that industries leveraging AI will achieve better quality output. This is because AI will elevate the overall level of talent by enabling professionals to focus on tasks that require their expertise and intuition, rather than on repetitive processes. I also have a strategic consulting practice. I have consulted for multiple companies over the years, primarily between Jordan and the UAE. The majority of my clients come from sectors such as real estate, healthcare, fitness, and cybersecurity. The environment is ripe for startups in this region if founders are prepared to handle the pressure. One key challenge is managing your emotions and interpersonal relationships since many people prefer steady employment and may not understand why you pursue entrepreneurship. I’m not opposed to having a job—if you can balance a startup and a steady job, that’s fine— but if you don’t have that luxury, you need to be willing to listen to others’ opinions without taking them personally. Most people might not find what you do logical at first. However, as long as it makes sense to you and you’re providing value, stay the course. Carefully choose whose advice you follow. I am often asked if being an entrepreneur is something in a person’s DNA – or can anyone be trained to be an entrepreneur? I believe it is a mixture of both. While some people have a natural inclination, the common traits among all successful entrepreneurs are consistency and perseverance. MOST PEOPLE MIGHT NOT FIND WHAT YOU DO LOGICAL AT FIRST. HOWEVER, AS LONG AS IT MAKES SENSE TO YOU AND YOU’RE PROVIDING VALUE, STAY THE COURSE.” I CAN’T PREDICT EXACTLY WHERE AI WILL BE IN FIVE YEARS, BUT I AM CONFIDENT THAT INDUSTRIES LEVERAGING AI WILL ACHIEVE BETTER QUALITY OUTPUT.” “
18 / ENTREPRENEUR.COM / April 15, 2025 STANDARDS, NOT SHORTCUTS BUILDING Kama Capital was formed only three years ago but has already grown into one of the region’s most admired brokers. The new Chief Commercial Officer, Dane Baker, explains how the company is seamlessly heading in a new strategic direction. 18 / ENTREPRENEUR.COM / April 15, 2025
19 April 15, 2025 / ENTREPRENEUR.COM / 19 April 15, 2025 / ENTREPRENEUR.COM / → Dane Baker is the Chief Commercial Officer at Kama Capital.
Success is seeing Kama Capital recognized for the integrity and hard work we’ve put in from day one — especially when we've chosen to do the right thing, even if it meant sacrificing revenue.” “ 20 / ENTREPRENEUR.COM / April 15, 2025
21 April 15, 2025 / ENTREPRENEUR.COM / F ounded three years ago, Kama Capital has experienced rapid growth within the region's brokerage sector. Dane Baker, the newly appointed Chief Commercial Officer, reflects on the company’s early journey as one defined by “precision, not speed.” According to Dane, Kama Capital took a deliberate approach that prioritised integrity, regulatory strength, and a client-first philosophy in the highly competitive world of contract for difference (CFD) trading. " The market is completely oversaturated. Only a handful of brokers have truly differentiated themselves, the rest tend to blend into one. Kama Capital is the opposite. We have taken the time to build properly, with full transparency and a clear strategic vision that we’re proud to share with the market. Our approach has always been clients first. We’ve never compromised on what matters. If it benefits our clients, we invest in it. Kama Capital isn't just a broker; we aim to be a trusted partner to every trader who joins us. Since its inception, Kama Capital has focused on building strong foundations in regulation, infrastructure, product offerings, and internal talent. Every reinvestment decision has been guided by a long-term perspective based on stability, security, and scalability." D ane acknowledges several challenges surrounding perceptions of the CFD industry, which is often regarded as unstructured or opportunistic. "The biggest misconception is that brokers operate purely on a Market Making model, where firms profit only when their clients lose. That mindset creates mistrust and damages the industry's reputation. At Kama Capital, we have worked hard to distance ourselves from that narrative. Our entire model is built on client longevity, not client loss." K ama Capital's strategy to elevate the industry strongly emphasizes transparency, education, and ethical trading practices. The company aims to professionalize its retail trading experience and support clients in becoming more responsible and confident traders. Dane emphasizes that performance is essential, but success lies in reputation and impact. "Success is seeing Kama Capital recognized for the integrity and hard work we’ve put in from day one — especially when we've chosen to do the right thing, even if it meant sacrificing revenue. I will feel truly successful when that commitment is seen, valued, and respected across the industry." H e continues, "Success is also watching traders evolve — not just in profits, but in confidence and mindset. When a client tells me they have become a better trader and a more respon- sible one because of Kama Capital, that’s the kind of impact that matters." On a personal note, Dane says his philosophy is deeply rooted in his upbringing. "Success is about living in a way my children would be }} → Dane Baker and the team aim to grow Kama Capital into becoming the top forex broker by revolutionizing the industry with cutting-edge tools and technology. SUCCESS IS ALSO WATCHING TRADERS EVOLVE — NOT JUST IN PROFITS, BUT IN CONFIDENCE AND MINDSET. WHEN A CLIENT TELLS ME THEY HAVE BECOME A BETTER TRADER AND A MORE RESPON- SIBLE ONE BECAUSE OF KAMA CAPITAL, THAT’S THE KIND OF IMPACT THAT MATTERS."
22 / ENTREPRENEUR.COM / April 15, 2025 THE SCA IS ONE OF THE MOST RE- SPECTED FINAN- CIAL REGULATORS GLOBALLY, AND THE CATEGORY 1 LICENSE REFLECTS OUR COMMITMENT TO INTEGRITY, COMPLIANCE, AND LONG-TERM TRUST. WE WANTED KAMA CAPITAL TO STAND ON THE HIGH- EST REGULATORY FOOTING AVAIL- ABLE IN A MARKET GROWING AS RAP- IDLY AS THIS ONE.” “
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24 / ENTREPRENEUR.COM / April 15, 2025 Kama Capital has been built on standards, not shortcuts — and it speaks to anyone who has ever chosen the harder, more honest road to success." "
25 April 15, 2025 / ENTREPRENEUR.COM / proud of. Proving that you can win without cutting corners. Holding strong values, staying grounded, and building things correctly leads to lasting success. I didn’t grow up with shortcuts or hand- outs, and the sacrifices made by my mother and father resulted in everything I am building today. That upbringing fuels how I lead Kama Capital — with purpose, gratitude, and a relentless commitment to doing things properly." H e sees Kama Capital not merely as a business but as a reflection of shared values: "Kama Capital is not just a brand. It reflects every lesson, hardship, and challenge that shapes anyone determined to improve. It represents the late nights, the setbacks, the tough decisions no one sees, and the resilience it takes to keep showing up. Kama Capital has been built on standards, not shortcuts — and it speaks to anyone who has ever chosen the harder, more honest road to success." A significant milestone in Kama Capital's journey was securing the SCA Category 1 license, the highest regulatory status in the UAE. Dane views this as a strategic step and a statement of intent: "The SCA is one of the most respected financial regulators globally, and the Category 1 license reflects our com- mitment to integrity, compliance, and long-term trust. We wanted Kama Capital to stand on the highest regulatory footing available in a market growing as rapidly as this one." D ane's professional background includes senior roles at Equiti Group, GMI, and IS-Prime (now Isam Securities). He brings over a decade of expertise in institutional and retail trading to Kama Capital and has implemented significant transformations since assuming the role of CCO in March. M y role has focused on bringing Kama Capital's identity and values to the forefront. As Chief Commercial Officer, I have executive oversight of Kama Capital's Broker- age, including both our Retail and Institutional departments, in addition to our Global Strategy and Data & Analytics departments. Each plays a critical role in driving commercial growth, my mandate is to align these divisions under a unified commercial vision that is client-first, performance-driven, and built for scale. Looking ahead, Kama Capital is exploring its expansion into LATAM and Far East Asia. Dane sees significant demand for brokers with transpar- ency, credibility, and a long-term focus. "We approach each region strategically, listening to the market and our clients. These markets are still in their infancy regarding access to transparent, high-quality partners. We aim to enter with the values that define us here: strong regulation, ethical leadership, and a deep commitment to client success." A s Kama Capital grows, Dane’s leadership philosophy remains clear: build slowly, honestly, and always with purpose. In an industry that often prioritises scale over substance, Kama Capital is setting a new benchmark — one built on standards, not shortcuts.
26 / ENTREPRENEUR.COM / April 15, 2025 For starters, please talk to us about how Basma was conceptualized and how you came to be associated with the brand. Where is the clinic located, and how many branches does it have? Basma was born from a very simple but powerful idea: orthodontics shouldn’t be complicated or out of reach. I saw an opportunity to digitize and streamline the way people access dental aligners in our region—offering a modern, tech-enabled approach without compromising on medical quality. What started as a vision to simplify access has grown into a platform that empowers top dentists to offer advanced orthodontic treatments across eight countries. We don’t operate through traditional clinics with branches. Instead, Basma partners with carefully selected dental clinics in major cities. These partners become extensions of our platform, trained and equipped to deliver the full Basma experience. Today, we’re active in over 12 cities across the GCC, Levant and Africa, with expansion continuing at a fast pace. Let’s talk about aligners. Although they’ve been around for a couple of decades, access to them has been limited—why do you think this has been the case? How does Basma address this issue? Access has been limited for a few reasons—high pricing, limited awareness, and a lack of trained providers in emerging markets. Aligners have traditionally been seen as a premium product available only in select clinics, often tied to Western brands and costs. Basma flips that model. We combine digital tools, a network of trained partner clinics and local production, to bring down the cost and reduce treatment times. More importantly, we speak the local language, literally and Creating Confidence Dr. Cherif Massoud, CEO of digital dental startup BASMA, shares how his company is enabling access to affordable remote professional orthodontic treatments, all under the supervision of doctors. B/HealthTech WHAT STARTED AS A VISION TO SIMPLIFY ACCESS HAS GROWN INTO A PLATFORM THAT EMPOWERS TOP DENTISTS TO OFFER ADVANCED ORTHODONTIC TREATMENTS ACROSS EIGHT COUNTRIES.” “ Dr. Cherif Massoud is the CEO of BASMA, a digital dental startup that offers advanced orthodontic treatments across eight countries.
27 April 15, 2025 / ENTREPRENEUR.COM / }} figuratively, meeting patients where they are, both culturally and geographically. Take us through what a typical customer experi- ence at Basma entails. What are the steps involved in ensuring the end-user receives the right treatment? We’ve reimagined the orthodontic journey from the ground up. It starts at one of our partner clinics, where the patient gets scanned and assessed by a Basma-trained dentist. That scan is then reviewed by our in-house orthodon- tists who design a personalized treatment plan using advanced software. Once approved, the patient receives a 3D preview of their future smile. Production begins locally, and aligners are delivered in just under two weeks. The patient follows the plan under the supervision of their dentist, with the Basma team and tech supporting every step—from virtual check-ins to real-time chat support. It’s fast, safe, and most importantly, designed around the patient’s lifestyle. While traditional orthodontic treatments can take two to three years, Basma aligner treatments begin to show results in as little as four months and take an average of just 10 months—making it a more efficient solution without compromising on care or outcomes. More specifically, how does the added feature of 3D previews offer Basma an edge? Also, how do you ensure customer safety (in terms of data security) within this option? 3D previews in our BASMA Patient App are game-changers. They give patients full visibility into their treatment before it even begins. This transpar- ency builds trust, improves compliance, and drives better results. It's also incredibly motivating—pa- tients get to see what they’re working toward. Add to it the agency to interact directly with their medical team from the comfort of their couch. This convenience is unparalleled. As for safety, we take data security seriously. All patient information is → Basma’s offerings were created by lowering the cost and building a tele dentistry platform that connected its customers directly to their treating orthodontist.
28 / ENTREPRENEUR.COM / April 15, 2025 encrypted, stored on secure servers, and handled in compliance with local and interna- tional privacy standards. We’re a health tech company at our core, and that means privacy, safety, and trust are non-negotiables. For those who may not be familiar with the benefits of aligners/ invisible braces, please talk to us about why they’re so important not just from an orthodontic perspective but for overall health as well. A healthy smile is more than just aesthetics—it’s foundational to overall health. Misaligned teeth can lead to jaw pain, gum disease, difficulty chewing, even sleep and speech issues. Aligners help correct these problems gently and discreetly. From a wellness perspective, they boost confidence, reduce dental complications, and make oral hygiene much easier. And because they’re remov- able, they fit seamlessly into adult lifestyles—no food restrictions, no major disruptions. It’s a smart solution for people who care about their health but want flexibility and discretion. What is your long-term vision for Basma? And what are some of the differentiating factors the brand possesses that will ensure this vision is achieved? We want Basma to be the go-to digital orthodontics platform across emerging markets—starting with the Middle East and Africa. Our long-term vision is to make B/HealthTech WE COMBINE DIGITAL TOOLS, A NETWORK OF TRAINED PARTNER CLINICS AND LOCAL PRODUCTION, TO BRING DOWN THE COST AND REDUCE TREATMENT TIMES. MORE IMPORTANTLY, WE SPEAK THE LOCAL LANGUAGE, LITERALLY AND FIGURATIVELY, MEETING PATIENTS WHERE THEY ARE, BOTH CULTURALLY AND GEOGRAPHICALLY.” → Using its latest 3D technology and high-quality invisible braces, Basma provides an affordable and convenient teeth- straightening solution.
29 April 15, 2025 / ENTREPRENEUR.COM / high-quality, personalized orthodontics accessible to millions, without the barriers of price, distance, or complexity. What sets us apart is our hybrid model—we’re not just a tech company, and we’re not just a dental company. We’re a platform that connects the best of both worlds. We own the customer experience end-to-end, we own the supply chain, we produce locally to shorten timelines, and we work with trusted local dentists to deliver the treatment. That combination is rare— and powerful. What have been some customer stories that have truly left you feeling proud of the work you do? There are many. But one that stands out is a teenage girl from a rural area whose parents couldn’t afford braces until they discovered Basma through one of our partner clinics. Not only was she able to complete her treatment affordably, but the transformation also boosted her confidence in a way that changed how she showed up in school and socially. Another memorable case involved a bride-to-be who finished her treatment just in time for her wedding photos. Seeing the joy in those before-and-after pictures reminds us that we’re not just straightening teeth—we’re helping people show up in the world with more confidence and pride. Finally, what is next for Basma in terms of the services it offers as well as its geographic presence? We’re just getting started. In addition to aligners, we’re launching new orthodontic services that cater to younger patients with our BASMA TEEN and older adults—everything from early intervention for kids to smile refreshes for seniors. Geographically, we’re doubling down on the GCC while preparing to expand deeper into Africa. Our platform is built to scale, and our goal is to become a category-defin- ing brand in the regions that have been historically underserved. We’re excited about what’s ahead. While traditional orthodontic treatments can take two to three years, Basma aligner treatments begin to show results in as little as four months and take an average of just 10 months—making it a more efficient solution without compromising on care or outcomes.” “
30 / ENTREPRENEUR.COM / April 15, 2025 B/Gear PANDORA → Celebrating the mother-like power to move the world Pandora’s new collection celebrates the many forms of motherhood through designs that honour the deep, emotional connections shared with mother figures. At the heart of the collection is the Unbreakable Bond symbol- a new motif representing enduring love and togetherness. Referencing the mark of infinity, this fluid shape represents the enduring nature of motherly love. This delicate symbol of everlasting love takes the form of the Infinity Knot Charm and ring selection in sterling silver and 14k gold-plated designs, intended to add an elevated, deeply meaningful touch to any jewellery collection. Additionally, Pandora’s iconic Snake Chain Bracelet has been reimagined to feature two braided chains that twist together, symbolising the intertwined relationship between mother figures and those they hold close. To honour motherly strength, new Pandora Moments charms with heartfelt, humorous messages are made to be styled and stacked for a personalised treat. From better goods to better wardrobe bests, every issue, we choose a few items that make the approved executive selection list. In this edition, our picks are from Jaeger-LeCoultre, Henry Jacques, Pandora, and Berluti. The Executive Selection
31 April 15, 2025 / ENTREPRENEUR.COM / JAEGER-LECOULTRE ↑ A blend of historical significance and contemporary sophistication Exuding vintage glamour and confident modernity, Jaeger-LeCoultre’s new interpretation of the Reverso Tribute Monoface Small Seconds comes with a Milanese link bracelet, an 18k pink gold (750/1000) case and a grained dial that perfectly matches the precious metal’s colour. Created as an eloquent expression of the Reverso’s stylistic evolution that began with the unveiling of the first model more than 90 years ago, it perfectly highlights the Reverso’s unique adaptability to evolve over time – balancing contrasting qualities: sporty or elegant, contemporary or retro; masculine or feminine, and often a blend of several attributes at once. The Milanese link is a dense, flat metal weave made from two intertwined metal threads, creating a double layer of small interlocking links. Crafting the bracelet requires no less than 16 meters of pink gold threads, which, once assembled, form a fabric-like structure known as pezza. The final steps involve stamping the links to their precise dimensions and hand-soldering each side, link by link. Without a doubt, the Reverso Tribute Monoface Small Seconds redefines elegance, reaffirming its status as a timeless icon. BERLUTI EFFORTLESS FRENCH ELEGANCE↓ A carefree lightweight loafer for summertime, designed to slip on without socks? It may initially come as a surprise to some to see this new offering from the Maison, but it actually follows on from a long line of holiday footwear. With the Escale, Berluti offers a supple new slip-on inspired by the Venetian velvet slipper known as the piedàterre. The Escale – belying its apparent simplicity – draws on all Berluti’s traditional bootmaking skills, such as hand-sewn moccasin stitching. This casual loafer looks just as good worn with the heel up, as with the heel folded down like a slipper, to heighten that effect of effortless elegance. With contrast lining like the Andy, and a sole stamped with the Scritto motif, this is unmistakably a Berluti shoe. EDITOR’S PICK Henry Jacques (HJ) has revealed its second edition of ‘Collection de l’Atelier’, a collection of limited-edition perfumes created from its very own Rose harvest. This year, the magnificent HJ Rose de Mai absolute -exquisite roses harvested from the rich grounds of its new South of France Atelier- gives rise to a new trio of fragrances. While the Rose Très Rose celebrates the HJ Rose de Mai in all its glory, Rose Alba and Rose Zephyr are born of imaginary journeys inspired by it. The perfumes are presented alongside each other in exquisite hand-crafted Boîtes à Parfums, just 500 of them, thanks to the rarity of the absolute. The Collection de l’Atelier 2024 edition is limited to 500 Boîtes à Parfums. Each hand-crafted chest houses three 30ml Les Essences, the most generous of HJ’s three variations. HENRY JACQUES ↓ / An entrancing new limited- edition trio of fragrances IMAGES COURTESY JAEGER-LECOULTRE| HENRY JACQUES| PANDORA, AND BERLUTI.
33 April 15, 2025 / ENTREPRENEUR.COM / Building Blocks From bootstrapping to billion-dollar valuation: Lessons from Infobip by SILVIO KUTIC
34 / ENTREPRENEUR.COM / April 15, 2025 ‘T/Growth THE INFOBIP JOURNEY: FROM LOCAL BEGINNINGS TO GLOBAL IMPACT Our story began in Vodnjan, a small town with a population of just over 3,000. In 2006, driven by a passion for technology and a vision to democratize interactions between businesses and people, we founded Infobip. Today, we have grown to over 3,500 employees, representing approximately 70 nationalities, with offices spanning the globe. This growth was not fueled by external funding but by a relentless commitment to innovation and understanding the evolving needs of our clients. From the very beginning, we made a conscious decision to bootstrap our operations. The choice to reinvest profits instead of seeking venture capital taught us discipline and forced us to focus on delivering real value. In a world where the norm is to chase large funding rounds, bootstrapping may seem like a disadvantage, but it provided us with a freedom that external funding could never have granted. This approach compelled us to be innovative, resourceful, and relentlessly customer-focused. KEY STRATEGIES FOR ENTREPRENEURIAL SUCCESS 1/ Embrace bootstrapping as a strength Instead of viewing the absence of external funding as a limitation, see it as a chance to build a lean, efficient, and focused business model. Reinvent your mindset to I n a rapidly evolving landscape of global communication, businesses have to adapt and innovate constantly to stay ahead. At Infobip, our journey from a small town in Croatia to a global leader in conversational customer experience exemplifies the transformative power of embracing change and leveraging technology. As the CEO of Infobip, I am honored to share insights from our experience, offering actionable strategies for entrepreneurs navigating the dynamic world of modern communication. Over the past two decades, we've witnessed a seismic shift in how people connect—from landlines and letters to emails, mobile phones, and now, messaging-first interactions. Platforms like WhatsApp, RCS, and Apple Messages for Business have rede- fined engagement, making instant, personalized communication the norm. Customers now expect businesses to be available on their preferred channels, seeking interactions that are effortless and intuitive.
35 appreciate every resource at your disposal. Reinvest your earnings wisely and prioritize initiatives that directly enhance customer value. 2/ Prioritize innovation and adaptability The technology landscape is in constant flux. To stay ahead, it's crucial to foster a culture of innovation within your organization. Encourage your team to explore new ideas, experiment with emerging technologies, and remain adaptable to change. At Infobip, our engineering- driven approach has been central to our ability to anticipate market shifts and deliver cutting-edge solutions. 3/ Focus on personalized customer experiences Our customers have always been at the heart of everything we do. In today’s digital age, consumers demand seamless, engaging interactions with the brands they trust. They no longer want to navigate multiple platforms or deal with fragmented communication channels. Utilizing data analytics and AI-driven tools can help tailor your communication strategies, ensuring that each customer feels valued and understood. This approach not only enhances customer satisfaction but also fosters loyalty and long-term engagement. 4/ Leverage strategic partnerships Collaborations can significantly amplify your reach and capabilities. One of the most rewarding aspects of our journey has been watching our innovations translate into tangible benefits for our clients. Our collaboration with Uber, for instance, was born out of a shared commitment to secure, efficient communication. By providing technologies that enhanced customer safety and engagement, we not only supported Uber’s growth but also set new standards in the industry. This experience reinforced the idea that true value lies in solving real-world problems and delivering measurable improvements in customer interactions. Since 2019, we have enabled Uber to communicate securely with over 110 million users across APAC, EMEA, and LATAM. By implementing number masking technology and integrating various messaging channels, we helped Uber achieve a 90% global call anonymization rate—enhancing user safety and trust. 5/ Maintain a global-local perspective While global expansion offers vast opportunities, it's essential to remain attuned to local markets' unique cultural and economic contexts. Establishing a presence in diverse regions enables a deeper understanding of local customer behaviors and preferences, allowing for more effective and relevant solutions. Our offices worldwide operate with a global vision while respecting and integrating local nuances. 6/ Invest in talent and diversity A diverse team brings a wealth of perspectives, fostering creativity and innovation. By investing in talent from various backgrounds, you not only enhance your problem- solving capabilities but also IN A WORLD WHERE THE NORM IS TO CHASE LARGE FUNDING ROUNDS, BOOTSTRAPPING MAY SEEM LIKE A DISADVANTAGE, BUT IT PROVIDED US WITH A FREEDOM THAT EXTERNAL FUNDING COULD NEVER HAVE GRANTED.” April 15, 2025 / ENTREPRENEUR.COM / }}
36 / ENTREPRENEUR.COM / April 15, 2025 create an inclusive culture that attracts top performers. At Infobip, our multicultural workforce has been instrumental in driving our global success. 7/ Harness the power of emerging technologies Staying abreast of technological advancements is vital. The integration of AI, machine learning, and data analytics can revolutionize how businesses operate and interact with customers. For example, AI-driven chatbots can provide personalized customer support, while data analytics can offer insights into customer behavior, informing strategic decisions. Embracing these technologies can lead to more efficient operations and enhanced customer experiences. For every entrepreneur reading this, I offer a heartfelt piece of advice: do not be deterred by the conventional wisdom that success requires massive external funding. The true measure of success is not the amount of capital you can raise, but the value you create through innovation and perseverance. Trust in your vision, be resourceful, and remember that every challenge is an opportunity to learn and grow. LOOKING AHEAD: THE FUTURE OF COMMUNICATION As we advance further into the era of Economy 4.0, characterized by the fusion of physical, digital, and biological worlds, the pace of change will only accelerate. Businesses must remain vigilant, constantly reassessing and evolving their communication strategies to meet emerging customer expectations. By embracing innovation, fostering personalized interactions, and maintaining a global-local perspective, entrepreneurs can navigate this complex landscape successfully. At Infobip, our mission remains committed: to democratize the future of digital interactions between businesses and people, making communication as seamless and intuitive as possible. We are committed to empowering businesses worldwide to connect with their customers in meaningful ways, driving growth and fostering lasting relationships. The journey of transforming communication is ongoing and requires a proactive, customer-centric approach. By implementing these strategies, entrepreneurs can position themselves at the forefront of this exciting evolution, leading their businesses to new heights in the digital age. Silvio Kutic is the co-founder and CEO of Infobip, a UK-based omnichannel marketing platform. www.infobip.com The true measure of success is not the amount of capital you can raise, but the value you create through innovation and perseverance.” “ ‘T/Growth
MIDDLE EAST AND AFRICA’S LARGEST CYBERSECURITY EVENT OFFICIAL GOVERNMENT CYBERSECURITY PARTNER HOSTED BY OFFICIALLY SUPPORTED BY
38 / ENTREPRENEUR.COM / April 15, 2025 T he fine art market is not only a space for collectors but also an evolving financial landscape where passion intersects with sophisticated investment strategies. J.P. Morgan Private Bank notes an increasing interest in unlocking liquidity from art collections through art-secured lending. “This enables art collectors to pursue new investment opportunities, acquire new art, or invest in other assets, all without parting with their treasured artwork ,” states Steven Hawkins, Managing Director at J.P. Morgan Private Bank. Creating Pathways "During volatile markets, an artwork above the mantle can feel more reliable than owning stocks or bonds. You can enjoy living with it, and fine art, particularly in the blue-chip arena, can maintain or even grow its value over time. 'Art has become a unique asset class, combining significant emotional value with financial potential,' says Hawkins." Unlike traditional assets such as stocks and bonds, art is a relatively illiquid invest- ment. While it may appreciate over time, selling an artwork at the right price and moment can be a challenging endeav- our. This inherent illiquidity creates unique challenges, however art-secured financ- ing offers a way for collectors to optimize their wealth strategies, allowing art to become part of their overall wealth plan. “Lending is critical for a fully functioning art market," says Hawkins. “We have recently seen an increase in clients using their art collections as collateral for loans to grow their collec- tions. Nowadays, many art purchases are financed through loans, at least temporarily, to address liquidity issues.” A possible explanation might be that, given the current art market, selling may not be the best option. Hawkins also emphasizes the emotional value of art “For many collectors, selling is simply not an option—these artworks often hold deep personal significance or have been treasured as family heirlooms passed through generations. Lending against art can offer a way to unlock liquidity without relinquish- ing ownership. Leveraging A look at how art-secured lending provides liquidity to the art market. by STEVEN HAWKINS ‘T/Art Market
39 April 15, 2025 / ENTREPRENEUR.COM / art-secured lending ensures financial flexibility while keeping valuable collections intact.” Advantages of lending Hawkins highlights three important advantages of financing. For collectors interested in building their collections, it can unlock liquidity with existing artworks in their collection --“liquidity without liquidation.” Secondly, it allows clients to maintain their collection while exploring other “non-art” investment opportunities without having to sell the art. Hawkins: “Lastly, lending offers flexibility in a longer-term wealth plan, by bridging potentially short-term liquidity needs or providing more struc- tural leverage for longer- term capital requirements, allowing the client to have options on how to achieve their wealth objectives. Blue-chip art, in particular, tends to retain its value over the years and can provide meaningful collateral for lenders for longer tenor financings.” Art as collateral: a growing trend J.P. Morgan Private Bank takes a tailored approach to art-secured financing. "We focus on well-documented, high-value artworks by established, blue-chip artists with a strong market presence," explains Hawkins. Hawkins: "The focus lies on artworks that have a track record of sales and are recognized in the art market. For our clients, we can lend against various mediums, provided they meet our minimum value requirements and are held in acceptable jurisdictions and structures. By leveraging our global capabilities and network, we help clients assess the financial potential of their collections and structure loans that align with their broader wealth plans. The global art-secured lending market has seen significant growth in recent years, reflecting the increasing recognition of fine art as a viable financial asset. Deloitte’s 2023 Art & Finance Report estimates the total value of privately held art collections at $2.174 trillion in 2022, with projections reaching $2.861 trillion by 2026. The market for luxury asset-secured lending – covering art, but also yachts and jets – has grown also. Hawkins: “Trends in luxury asset-secured lending include larger loan sizes (e.g., as yachts have gotten larger, so have the loans to finance them) and a more developed lending ecosystem. There's also a growing acceptance of these assets as collateral by more financial providers, reflecting their increasing recognition as valuable assets.” How does J.P. Morgan Private Bank assess value? Hawkins: “We work with a variety of external profes- sionals in the market to thoroughly evaluate an asset’s value, examining comparables and factoring recent transactions when possible. In the art market, factors such as provenance and artist reputation are crucial. For yachts, factors like brand, condition, and market demand play a significant role.” Hawkins: “It is important to note that we assess the value and risk of a luxury asset financing by evaluat- ing a client's overall financial health and balance sheet, typically requiring personal, corporate, or trust guaran- tees to secure the loan.” Steven Hawkins is the Managing Director at J.P. Morgan Private Bank, a division of JPMorgan Chase & Co., a global leader in financial services. privatebank. jpmorgan.com THE GLOBAL ART-SECURED LENDING MARKET HAS SEEN SIGNIFICANT GROWTH IN RECENT YEARS, REFLECTING THE INCREASING RECOGNITION OF FINE ART AS A VIABLE FINANCIAL ASSET.”
40 / ENTREPRENEUR.COM / April 15, 2025 while trying to onboard new ones can stretch a solo entrepreneur thin. Hiring full-time employees comes with overhead costs that many early-stage businesses cannot immediately afford. Ensuring that every project meets the highest standards without a core team requires meticulous oversight. Instead of waiting for the “perfect moment” to hire a full-time team, why not take a strategic approach ‘T/Workforce The future of PR agencies is hybrid. Here’s how entrepreneurs can adapt. by HANAE OUAKRIME Unleashing Potential I n the fast-paced business landscape of our region, entrepreneurs walk a fine line between expanding their business and maintaining strong client relationships. As a PR consultant trying to scale my business, I’ve experienced firsthand the challenge of growing without the traditional safety net of a full-time team. For many solo consultants and entrepreneurs, the ambition to grow beyond a one-person operation creates constant pressure. The Middle East’s startup ecosystem is thriving—Dubai alone saw a 25% increase in new business licenses in 2024, according to the Dubai Chamber of Commerce. However, scaling a business without a dedicated team comes with unique hurdles. Managing existing clients
41 April 15, 2025 / ENTREPRENEUR.COM / to expansion—one that offers flexibility while maintaining quality? One of the most effective methods has been leveraging a hybrid team model. According to the 2025 Talent on Demand Report by Outsized, freelancer registrations in the MENA region increased by 78% in the past year. You can dynamically scale operations without long-term commitments by collaborating with a trusted network of freelancers and boutique agencies on a project basis. This model enables you to tap into specialized expertise—whether in media relations, content creation, or crisis communication— without carrying the financial burden of a full-time workforce. Technology has also played a crucial role in making this approach work. The region’s digital transformation has been a blessing for solo entrepreneurs. Cloud-based project management tools like Trello, Asana, and Slack streamline collaboration, while AI-powered PR tools like Meltwater and Cision enhance media tracking and outreach. According to GoDaddy’s 2024 Global Entrepreneurship Survey, 99% of UAE-based entrepreneurs have seen significant improvements in their work processes thanks to digitization, and 98% emphasized the importance of combining online and offline sales for business success. Prioritizing high-value client relationships is at the core of sustainable growth. Scaling a business shouldn’t come at the cost of client service. Instead of chasing quantity, entrepreneurs should focus on retaining high-value clients. Ensuring clients feel valued through regular check-ins, strategic counsel, and proactive problem- solving builds trust that leads to long-term partnerships and referrals. Thought leadership is another powerful tool that can be deployed in scaling strategy. The GCC’s business world values credibility, and positioning oneself as an authority can drive inbound leads, reducing the pressure of constant client acquisition. Writing for industry publications, speaking at events, and engaging on LinkedIn are great methods to establish a reputation that attracts new business and supports sustainable growth without burnout. The UAE’s business-friendly environment and the rise of flexible work models mean that solopreneurs no longer need a large team to make a big impact. Today, it is possible to build a scalable, profitable business without compromising quality or personal well-being. For entrepreneurs navigating a similar path, the key is to stay agile, embrace collaboration, and invest in long-term relationships. Scaling without a full-time team is possible and might be the smartest way forward in today’s evolving business landscape. Would you rather have a large team or a nimble, high-impact operation? The answer may define the future of entrepreneurship in the Middle East. Hanae Ouakrime is an independent PR and communications consultant. She is a multilingual communications professional with more than 13 years experience across various sectors including energy, sustainability, technology, automotive, FMCG, among others. Having consulted over 60 international, regional, and local private and public sector players, Ouakrime’s expertise spans communications strategy, crisis management, media relations, and media training, underscoring her ability to deliver impactful results. Ouakrime began her career in Dubai, UAE, where she steadily advanced from Account Executive to Account Director, before exploring entrepreneurship opportunities that led her to become an independent senior consultant, advising clients across the globe on how to speak to, and maintain a genuine relationship with their audiences. Throughout her career, Ouakrime worked with world-renowned consultancies such as Weber Shandwick, Burson, and Fleishman. Her client portfolio includes revolutionary automotive manufacturer, Tesla, Finnish space AI provider ICEYE, Emirates Nuclear Energy Cooperation, ENEC, and Saudi Central Bank, SAMA.
42 / ENTREPRENEUR.COM / April 15, 2025 Seven key lessons for aspiring entrepreneurs to turn vision into success by ADEL EL MAWLA Think Forward E ntrepreneurs are often recognized as the backbone of the economy — and for good reason. They drive innovation, create jobs, and inject vitality into industries, fueling economic growth and shaping the future. From small local startups to global disruptors, entrepreneurs identify problems, deliver solutions, and push boundaries, building the businesses that keep economies dynamic and evolving. ‘T/Strategy
43 April 15, 2025 / ENTREPRENEUR.COM / H owever, starting and sustaining a business is a challenging endeavor. Behind every success story lies a journey filled with risk, uncertainty, and relentless hard work. Entrepreneurs face numerous challenges — from securing funding and navigating market competition to managing operations and adapting to ever-changing customer demands. Many endure setbacks and failures before finding their stride. The truth is, many startups fail — often due to avoidable mistakes like poor planning, running out of cash, or failing to meet market needs. But while failure is common, it isn't inevitable. From my own long entrepreneurial journey, I've learned that success isn't just about having a great idea — it's about execution, resilience, and strategy. To help aspiring entrepreneurs beat the odds, I'll share 7 key lessons that can significantly increase your chances of success and turn your vision into a sustainable, thriving business. Lesson 1/ Build With What You Have and Adapt As You Grow I'm a firm believer that life is full of possibilities — we can quite literally do anything. But possibilities come with probabilities, and that's where the difference lies between mani- festing success and having a solid plan. Both matter, and they work in parallel. Manifesting creates belief, but a plan turns that belief into action. When building a business, start realistically with the resources you have — whether it's access to a wealthy family, a unique skill set, or a rare opportunity. Success isn't just about dreaming big; it's about making the most of what's within your reach while staying agile and pragmatic. Circumstances will inevitably change — new resources and opportunities may emerge, while others might disappear — and the ability to adapt is what keeps a business moving forward. ENTREPRENEURSHIP ISN'T ABOUT A TITLE, PRIVILEGE, OR OWNING SHARES. IT'S ABOUT SOLVING PROBLEMS WITH A MINDSET DRIVEN BY GROWTH, PURPOSE, AND A DESIRE TO CHALLENGE THE STATUS QUO. }} Lesson 2/ Choose Partners for Value, Not Just Familiarity Building a business isn't about teaming up with friends — it's about assembling the right people who bring real value to the table. The key is to first define the skills, experience, and even personality traits your team needs to succeed. This is especially crucial when choosing co-founders. A strong partnership isn't built on friend- ship alone — it's built on comple- mentary strengths, shared vision, and the ability to challenge each other productively. That said, if friends happen to fit the criteria and bring value to the business, that's a bonus — but value should always come first. Lesson 3/ Acknowledge, Respect, and Listen — People Want to Matter Building a great team isn't just about paying salaries — it's about making people feel valued. Communication, respect, and active listening are powerful, often overlooked tools. Not everyone is driven purely by money, and for startups — especially if you're not backed by wealth — this becomes even more critical. Acknowledgement is free, yet it's one of the most valuable things you can offer. People want to feel seen, involved, and that their work truly matters. It's a fundamental human need: to find meaning and feel important. A team that feels valued will push harder, stay longer, and believe in the mission as much as you do. The same applies to customers, investors, and every single human being you encounter. This isn't just a business tactic or strategy — it's a philosophy that should be at the core of your principles. When you make others feel important, you build deeper, more meaningful relationships that last.
44 / ENTREPRENEUR.COM / April 15, 2025 Lesson 4/ Master the Market — Paralyze the Competition and Define Your Edge To succeed in business, you must have a deep understanding of the market you're entering. Know your competitors, how they operate, and what makes them successful. But more importantly, identify what sets your business apart. What are your differentia- tors? Whether it's your price point, return policy, packaging, exclusivity, or intellectual property — understanding and highlighting these aspects is key to carving out your niche. Additionally, you need a plan to disarm the competition, making it dif- ficult for them to compete unless they completely reinvent themselves. This requires a delicate balance of constant product innovation, staying true to your own vision, and keeping a sharp eye on the evolving market land- scape. By continuously improving your offering while remaining aware of the competition, you ensure that your business stays ahead, making it harder for others to catch up. Lesson 5/ Sell or Raise Capital by Asking for Advice When it comes to selling a product or raising capital, the key is to approach people with humility and a genuine desire to learn. No one wants to feel misused or taken advantage of, so position your strategy by asking for advice instead of directly making a sale or pitch. Approach potential investors, partners, or customers by seeking their insights, and truly listen to what they have to say. Whether you ultimately identify a pain point to sell to them or not doesn't matter — what's impor- tant is that you've gained valuable knowledge, built trust, and strengthened relationships. Every conversation, even if it doesn't lead directly to a sale, contributes to your understanding and helps refine your approach. Ultimately, it guides you towards smarter, more informed decisions—from your business model and pricing strategy to your product roadmap, and many other strategic choices you need to make. ACKNOWLEDGEMENT IS FREE, YET IT'S ONE OF THE MOST VALUABLE THINGS YOU CAN OFFER. PEOPLE WANT TO FEEL SEEN, INVOLVED, AND THAT THEIR WORK TRULY MATTERS. ‘T/Strategy
45 April 15, 2025 / ENTREPRENEUR.COM / Lesson 6/ Build Associations to Gain Credibility Credibility is crucial for any business, and one of the fastest ways to build it is through strong associations. This could involve having a board of advisors with specialized expertise, co-founders who bring the right skills and experience, or even earning degrees or certifications from respected institutions. Gaining recognized certifications for your business can also enhance trust. Additionally, you may often need to offer your product or service for free to certain clients in order to build trust and demonstrate your value. Our brains are wired to make associations and generalize, which can sometimes lead to biases, but in this case, it's advantageous. People are more likely to trust and invest in your business when they see credible affiliations and recognized qualifications, so leveraging these associations can be a powerful tool in establishing your reputation and unlocking opportunities. Lesson 7/ Embrace Your Why and Trust the Journey To succeed as an entrepreneur, you must truly want it, and that desire starts with understanding your "why." It might sound cliché, but many people don't grasp what it really takes to be a true entrepreneur — the kind who challenges the status quo and dares to dream bigger than their current reality. You'll face tough times and hit rock bottom, but it's in those moments that you must find hope and remind yourself of your purpose. You need to be fearless, knowing that your drive should fuel you, not burn you out. Your passion should guide you toward your goals and inspire others along the way. You also need to listen to your gut and be open to mystical messages. Life and God communicate with us, but we're often unconscious about the cues and answers that come our way. Trusting your intuition and paying attention to those subtle signs can help guide your decisions and keep you aligned with your purpose. The same fire that powers your journey can also help light the paths of those around you, creating a ripple effect of purpose and impact. Entrepreneurship isn't about a title, privilege, or owning shares. It's about solving problems with a mindset driven by growth, purpose, and a desire to challenge the status quo. It's for those who dare to push boundaries and understand that life happens for those who take action. Being able to create is the ultimate expression of human existence, a reflection of divine intelligence and connection. Everyone is an artist in their own right — even scientists, as we all express ourselves differently. What sets entrepreneurs apart is their ability and desire to face the material, emotion- al, and even spiritual challenges that come with planting seeds of growth in stormy weather. Joining someone else's entrepreneurial journey is just as valuable — you're still creating and contributing in meaning- ful ways. But entrepreneurs are driven to forge new paths, taking on the challenges of generating, executing and scaling ideas. If you feel intimidated reading this, entrepreneurship might not be for you. But if it resonates, you probably have what it takes. Entrepreneurs also understand the importance of balancing reason with emotion in decision-making. Over time, you'll learn how to navigate the complexities of entrepreneurship, keeping your long-term vision and purpose alive while making informed choices. Success comes from persistence, learning, and adapting. Keep trying, embrace new strategies, and remember — en- trepreneurship is a constant process of growth and reinven- tion. Adel El Mawla is the founder and CEO of Workplaced. A seasoned entrepreneur with 15 years of experience, starting at the age of 18, Adel has a proven track record of founding and growing companies across various industries, including fashion, education, advertising, and, most notably, technology, with a specialization in PropTech. Adel has also played multiple roles as a mentor, graduate, and Entrepreneur in Residence in global accelerator programs such as 500 Global, Google for Startups, and Techstars. He holds a bachelor's degree in engineering, a master's in property, and a diploma in finance. www.workplaced.com Circumstances will inevitably change — new resources and opportunities may emerge, while others might disappear — and the ability to adapt is what keeps a business moving forward.” “
THE ART OF ELEVATION OMNIYAT.COM
A rtificial intelligence (AI) is rapidly reshaping the Middle East, thus cementing the region as a rising powerhouse in global tech innovation. From ambitious national strategies to cutting-edge research hubs, and a surge of investment in AI-driven businesses, there have been plenty of developments to suggest this is more than just a trend. In this special section, take a look at some of the pioneering ideas that are driving this digital transformation in the region. INNOVATION SURGE 47 April 15, 2025 / ENTREPRENEUR.COM /
48 / ENTREPRENEUR.COM / April 15, 2025 Saudi Arabia’s AI Moment Driving a Regional Tech Revolution D riven by Vision 2030 and an ambitious national strategy to diversify its economy, the Kingdom is witnessing a remarkable surge in AI adoption across a wide range of sectors—from energy and healthcare to finance, education, and smart cities. As both public and private entities ramp up investments in AI technologies, Saudi Arabia is positioning itself as a regional leader in innovation, aiming to harness the full potential of AI to drive economic growth, improve public services, and foster a knowledge-based society. Artificial Intelligence (AI) is rapidly reshaping economies worldwide, and Saudi Arabia is emerging as a key player in this global transformation. by ASHWAQ ALSHATHRI Tech/AI
49 April 15, 2025 / ENTREPRENEUR.COM / Rising Demand Across Industries Saudi Arabia has seen a marked rise in AI adoption across both the public and private sectors. Government entities are leveraging AI to enhance service delivery and improve urban planning, while corporations are deploying machine learning and predictive analytics to boost efficiency and decision-making. Healthcare providers are integrating AI-powered diagnostics and telemedicine solutions. Financial institutions leverage the technology for fraud detection and customer personalization, and Energy & Utilities companies are actively implementing AI for predictive maintenance, energy forecasting, and industrial automation. The Kingdom’s Bold AI Vision At the heart of this transfor- mation is the Kingdom’s bold national strategy for data and AI. The Saudi Data and AI Authority has been instrumental in driving this agenda forward, setting ambitious goals including positioning Saudi Arabia among the top 15 nations in AI by 2030. Significant investments are being funneled into AI infrastruc- ture, research, education, and international partner- ships. With its strategic geo- graphic location, robust infrastructure investments, forward-thinking regulation, and the advantage of building without legacy system constraints, Saudi Arabia is poised to become the Middle East’s AI epicenter. It is building the “power grid” for AI— through cloud-native infrastructure, national cloud strategies, and investments in high-perfor- mance computing. Giga- projects like NEOM are not only incorporating AI but are also serving as testbeds for its application in urban living, mobility, and sustainability. This AI-first environment is also guided by responsible governance. Saudi Arabia is actively shaping ethical AI policies, data protection regulations, and compliance frameworks, creating a stable and secure landscape that invites global collaboration. This makes it an attractive destination for startups and tech giants alike. By offering both the capital and the ecosystem, Saudi Arabia is setting the stage for long-term AI leadership in the region. AI’s Role in the Future of Work The rise of AI naturally raises questions about its impact on employment. While automation may streamline or even replace certain repetitive and routine tasks, it also opens doors for value creation, innovation and career growth. In Saudi Arabia, the focus is not on job loss - but on job evolution. The Kingdom is proac- tively embracing this shift by investing in large-scale reskilling and upskilling initiatives. Universities are integrating AI, machine learning, and data science into their curricula, while new vocational programs are emerging to train workers in applied AI skills, cybersecu- rity, and cloud computing. These efforts are designed not only to future-proof the Saudi workforce, but to make it one of the most competitive and digitally flu- ent in the region. Saudi Arabia sees AI not as a replacement, but as a catalyst for human advance- ment—enabling smarter work, better decisions, and new opportunities in a digital economy. The Saudi Data and AI Authority has been instrumental in driving this agenda forward, setting ambitious goals including positioning Saudi Arabia among the top 15 nations in AI by 2030. ”
50 / ENTREPRENEUR.COM / April 15, 2025 Publicis Sapient: Partnering for Progress Publicis Sapient, a leading global digital business transformation company that helps enterprises like Marriott, Diriyah Gate (DGDA), Omantel, SCAI ,Miral transform digitally is at the forefront of AI-driven transformation in the Middle East. With an increasing footprint in the region, including a Riyadh-based team and local leadership, Publicis Sapient is working hand-in-hand with its clients to turn Vision 2030 into a reality. Publicis Sapient harnesses its SPEED - Strategy, Product, Experi- ence, Engineering and Data and AI - capabilities and offers a comprehen- sive range of AI-driven solutions to help enterprises across industries transform. For example, its propri- etary AI platform, Sapient Slingshot is designed to enhance every stage of the software development lifecycle. In the context of a Digital Factory, Publicis Sapient has enabled the “Slingshot” approach within several enterprise and government entities in Saudi Arabia to accelerate innovation, transformation, and delivery of digital products. It’s like a focused, high-impact boost that gets a product or solution rapidly off the ground— just like a slingshot launches an object forward quickly and power- fully. A Defining Moment AI is no longer about distant potential—it’s about immediate, measurable impact. In Saudi Arabia, the building blocks of this new reality are already in place: visionary leadership, strategic investment, technological infrastructure, and an ecosystem eager to innovate. The message is clear. The future belongs to those who move now, and Saudi Arabia is moving fast. Ashwaq Alshathri is the Country Managing Director - Saudi Arabia at Publicis Sapient. www.publicissapient.com Saudi Arabia sees AI not as a replacement, but as a catalyst for human advancement— enabling smarter work, better decisions, and new opportunities in a digital economy. Tech/AI
51 April 15, 2025 / ENTREPRENEUR.COM / The growth of the global AI in the sports market – projected to reach just under US$30 billion by 2032, growing at an annual rate of 30% per year between now and then – has set a paradigm shift in motion, affecting the way we compete, consume and manage sports. This is as per a 2024 report by G42, an Abu Dhabi- based AI and cloud computing firm, that explores AI’s role in reshaping the sports industry. Titled “The Future of Sport and AI,” the report dissects how AI-driven capabilities will augment expert teams and bring improved outcomes across the pillars of Strategy and Tactics, Talent, Engagement, Health and Performance, and Design. Sport as an innovation hub and the ideal testing ground for AI As the sports sector learns to work with AI and use its potential, the world will look on with interest. Many sports are already mining huge amounts of data, and the repetition and complexity of play makes it a veritable playground for AI engineers. The story of AI in sport will be one of how AI- driven innovation will one day influence broader society too. ‘Sport always jumps head first into everything,’ explains Rory Smith, The New York Times global sports correspondent. ‘Because everyone is focused on gaining an edge, it’s a natural environment to experiment with new technology and look for ways to improve.’ With global audi- ences of over 3 billion for the Olympics, 3.5 billion for football, 2.5 billion for cricket and 2 billion for basketball and field hockey, many people are poised to learn more about the potential of AI to positively affect human ability, not just as fans but also as participants. A I is about to revolutionize conventional sports wisdom. In some cases it already has. ‘In the world of professional sports, people are begging for AI-driven insights,’ says Alex Kipman, CEO and founder of Analog. ‘Everyone wants a competitor’s advantage. If one team has AI but another one doesn’t, or one’s AI is better than another’s, that’s a disadvantage – the race is on.’ A Shift In How We Compete, Consume And Manage Sports G42 has become a champion of AI, and the company says the sports market offers huge potential.
52 / ENTREPRENEUR.COM / April 15, 2025 Health and wellbeing dominate culture – and sport is benefiting Today, new audiences are attracted to sport as part of the broader growth of health and wellbeing culture. Armed with wearable devices, fitness content and dietary hacks, people can approach their own training as athletes do. They use digital coaches to set goals, tweak their routine and monitor performance data. Scouting apps like aiScout are even connecting top performers to talent scouts. Using 3D capture technology via an individual’s camera phone, users can see how their performance ranks against others globally. If they hit the mark, a scout will call. Elite sport is still out of reach for most, but the rise of AI-fueled, digital products is giving wider audiences access to the tools and the dream of one day competing in professional sport. In that sense, sport provides the ideal vehicle to increase familiarity with this advancing technology. The Human Narrative Sport may be a hotbed of AI innovation, but it is also a showcase for what defies the algorithms – the power of the human spirit. While sports are at the cutting edge of AI research and experimentation, performance in sports remains a sector uniquely resistant to automation. The chaos of the game, the unpredictability of play – these are elements that fans relish. ‘There’s a lot of complexity in sport. It’s simply not possible to iron out all of that inconsistency with AI,’ explains Jesse Davis, professor of Machine Learning Group and DTAI Sports Analytics Lab at KU Leuven. ‘Moreover, it’s not something you would want to get rid of.’ In other words, there’s a reason that robot wars have limited appeal: humans want to watch other humans achieve superhuman feats that defy the odds. ‘Sport will always be human,’ says Rory Smith. ‘As such, it will always be subject to human failure and illuminated by human genius.’ In this new era of AI integration across sectors, athletes’ ability to defy algorithms with human spirit will cement sport’s place as integral to our need for entertainment. Take Cristiano Ronaldo. With 635m followers on Instagram, he surpasses Kim Kardashian, Dwayne ‘The Rock’ Johnson, Ariana Grande and Kylie Jenner. Fans are not just impressed with how he plays; they idolize him as an icon of human capability. His hero status reflects the health of the broader global sports market. Even as video- on-de- mand streaming sites and highlight clips captivate younger viewers, 71% of sports fans say their favorite type of sports content to watch is live. In this sense, sport and its showcase of human ability is more compelling than other forms of entertainment. The global sports market is expected to reach $680 billion by 2028, growing at just under 10% each year. This is great news for AI innovation, says Presight CEO Thomas Pramotedham: ‘It’s not just about AI for sports performance excellence; the economics of sport entertainment will also drive the adoption of AI.’ Today, new audiences are attracted to sport as part of the broader growth of health and wellbeing culture. Armed with wearable devices, fitness content and dietary hacks, people can approach their own training as athletes do. Tech/AI
53 April 15, 2025 / ENTREPRENEUR.COM / Learning How To Behave: AI Conditioned Robots Are Coming LBMs are related to, but distinct from, the large language models (LLMs) that power generative AI (GenAI). Data scientists train LLMs on huge volumes of data so that they can respond conversationally in natural language. LBMs, by contrast, learn from the behaviors of others as captured on camera and by sensors, as well as learning empirically, from their own actions. At the Toyota Research Institute (TRI) in Massachusetts, US, one of the leading centers of LBM development, engineers are building robots capable of learning hundreds of separate, intricate skills using visual and tactile feedback systems. Once a robot has developed an extensive LBM skillset, it can reconfigure those skills to generate new behaviors, from selecting components for a production line to picking complementary ingredients from your larder to make your dinner. S audi Large behavior models (LBMs) promise to be even more impactful than large language models, says IMD’s Tomoko Yokoi. How would you teach a robot to make breakfast just the way you like it, wash your car, or give your children a French lesson? As any AI developer will explain, you simply need to show them what to do. Autonomous systems, including robots, can use large behavior models (LBMs) to understand and simulate human actions and behaviors. What’s more, they can repeat them indefinitely without getting bored or fatigued. On the contrary, the more they use them, the more creative they will get. TONOMUS says Large Behaviour Models are the key to advancement in AI by TOMOKO YOKOI The potential is clear: LBMs are capable of driving natural, contextually aware behaviors that blur the line between human and machine, with robots taking initial cues from human supervisors and co-workers before developing and refining the actions according to their programming.
54 / ENTREPRENEUR.COM / April 15, 2025 Robots would need to incorporate an LLM capable of receiving, understand- ing, and responding to natural language queries from a human. Step-by-step learning Many developers build LBMs using ‘diffusion policy,’ a process of AI training that involves breaking down any given action into much smaller movements and steps. The robot repeats these tiny actions in different contexts and environments until it successfully completes the assigned task in each of them. TRI, for example, has in a couple of hours trained a robot to load a dishwasher, while traditional coding might take a year to accomplish this. Researchers at TRI have described their training as “kindergarten for robots.” The phrase hints at the potential such models have for future development. The robot can quickly learn a single action and then practice it to the point where it can perform the task in a range of conditions. Once mastered, the programming can then be instantly exported to a fleet of robots. The potential is clear: LBMs are capable of driving natural, contextually aware behaviors that blur the line between human and machine, with robots taking initial cues from human supervisors and co-workers before developing and refining the actions according to their programming. To make this scenario a reality will require technology that incorporates both LLMs and LBMs, with the two types of models working in tandem. Robots would need to incorporate an LLM capable of receiving, understand- ing, and responding to natural language queries from a human. The LBM would then action those queries, prompting the robot to follow the instructions. For now, though, we should think in terms of more modest applications. Initially, industry is likely to imple- ment LBM-powered robots in contexts where automation is already embedded in a predictable, control- lable way, with a limited range of repeatable actions, such as automo- tive manufacturing. But eventually, we could see such robots in every workplace, augment- ing or even replacing human opera- tives. Researchers are particularly enthusiastic about applications in healthcare, entertainment, and leisure. In the home, LBMs could power technology that replaces the current generation of personal assistants, offering an equally nuanced and sophisticated verbal service, com- bined with physical assistance. Amid such excitement, however, caution is called for. It isn’t only science fiction fans who worry about a dystopian future in which robots start to take over. We need to put in place ethical and practical safeguards to mitigate the risks of LBM-powered technologies. Underlining this, academics in the US published in 2024 a paper that warns of errors in the models prompting dangerous actions, or even cybersecurity weaknesses allowing malicious actors to manipulate the robots. It goes on to suggest that the robotics industry should conduct further safety research before building hardware that incorporates such models. Many of the concerns that have dogged LLMs – those around opacity, bias, and hallucinations, for example – will also apply to LBMs, potentially with even graver consequences. New government regulation may soon be on the horizon to control these threats, which, as in other areas of AI, will place the onus on policy- makers to balance allowing innova- tors the freedom to pursue ambitious new goals with protecting workforces and the public. With LBMs already beginning to move out of the lab, companies should develop and implement safety frameworks as soon as possible. For example, there is already speculation about integrating LBMs into Nvidia’s Hover controller for managing humanoid robots. Similarly, many believe Tesla’s Optimus project is also likely to incorporate LBMs, support- ing the predictions by CEO Elon Musk that “humanoid robots [can] be the biggest product ever in history, by far”. Tomoko Yokoi is a researcher at the TONOMUS Global Center for Digital and AI Transformation. www.publicissapient.com It isn’t only science fiction fans who worry about a dystopian future in which robots start to take over. We need to put in place ethical and practical safeguards to mitigate the risks of LBM-powered technologies. Tech/AI
55 April 15, 2025 / ENTREPRENEUR.COM / The UAE's AI Journey A recent study commissioned for the 2018 World Government Summit in Dubai argued that for six Middle East countries, 45% of the existing work activities in the labor market are automat- able today based on current technologies. This average is slightly below the global average of 50%. The same study shows that this risk is higher in sectors when employees perform routine tasks like in manufactur- ing and transportation. In the arts, education and healthcare, where human interaction or creativity is more important, the risk is much lower. F or the UAE, around 43% of existing work activities have the potential to be automated across key sectors such as administration, govern- ment, manufacturing and construction. With around 70% of Emiratis employed in the public sector, retraining of government workers is particularly critical. It has been estimated that almost 300,000 jobs in the UAE in the Administrative and The UAE sets a clear vision through its AI Strategy, to become one of the world leaders in A.I. by 2031. The government has outlined eight clear objectives to reach its goals. Attracting and training talent for future jobs created by AI is one of the most challenging. This is how the UAE is tackling this. by ENTREPRENEUR MIDDLE EAST STAFF* Support and Govern- ment sector may be impacted by automa- tion, with around 125,000 of these jobs held by UAE nationals. This will have a major impact on the public sector workforce and needs to be carefully managed, with a 2016 survey of Emirati workers finding the ideal future role for 54% was one in administration i.e. a role that may not exist in the future. These predictions could prove inaccurate. Working practices in the UAE are often different to US job descriptions, which are the ones used to estimate how work can be automated. At the same time, the growing youth popula- tion in the region and dominance of job-relat- ed visas in the UAE could have the greatest effects on the underlying dynamics of the workforce. Given this, there is a significant low- skilled population whose job can easily be changed by automation, but who currently have few skills to make the most of these changes. 40% of the UAE workforce has good digital skills. This is less than the 56% of people with good digital skills in the UK, the top rated-nation in the AI-Readiness Index15. For most of the population, developing better digital skills and basic understanding of AI will help them make
56 / ENTREPRENEUR.COM / April 15, 2025 better decisions in an economy where automation technologies enter the workplace. Public AI Training Free courses are being run for UAE residents to raise awareness and understand- ing of AI technologies. The UAE AI Camp first started in the summer of 2018 and it supports the efforts of future knowledge transfer and building a generation capable of adopting advanced technologies in developing solutions for various future challenges. Over 5,000 UAE residents received specialized training on the fundamentals of AI with hands-on experience. Upskilling Students There is a similar opportu- nity in the student popula- tion. The UAE has a small student population, but a high percentage (22%) are in core STEM areas: ICT , engineering and natural sciences. Upskilling STEM graduates with specialist courses will provide the fastest short-term solution to increasing the number of AI experts. This upskilling will also provide a stronger pipeline of students able to undertake post-graduate training in AI to develop the pool of UAE talent able to build AI systems. The United Kingdom has recently stated an aggressive target of having at least 1,000 government supported PhD places at any one time in AI and related disciplines, by 2025. In order to compete technically on a global scale the UAE must also be ambitious in its targets, to that effect, at the February 2018 World Government Summit, the Minister of State for Artificial Intelli- gence announced that the UAE has the intention to produce world-class AI talent. This will be done through upskilling 1/3 of the UAE’s STEM graduates per year (2000 students). Given the public sector is a major employer and potential user of AI in the UAE, The AI Office has also started specific training for government employees. Government Training The AI Office is offering more advanced courses for Government employees starting Q4 2018, focused on skills needed to work with them being the AI Experts (ambassadors) in their entities. These require participants to complete a capstone project related to their current job. The aim is to ensure that 100% of senior leadership in government - Director-General, Ministe- rial and Senior-Ministerial levels - are trained and versed in AI, with more junior government employ- ees being trained on a more ad hoc basis. *Content derived from the UAE’s National Strategy for Artificial Intelligence 2031 THE UAE HAS A SMALL STUDENT POPULATION, BUT A HIGH PERCENTAGE (22%) ARE IN CORE STEM AREAS: ICT , ENGINEERING AND NATURAL SCIENCES. UPSKILLING STEM GRADUATES WITH SPECIALIST COURSES WILL PROVIDE THE FASTEST SHORT-TERM SOLUTION TO INCREASING THE NUMBER OF AI EXPERTS. For most of the population, developing better digital skills and basic understanding of AI will help them make better decisions in an economy where automation technologies enter the workplace. Tech/AI
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UAE makes announcement on tax / In the Loop/ David Subotic, founder, Chairman, and CEO of US-based authentic yogurt bar and café brand Go Greek, has begun the next phase of growth for his company, with operations now active in the GCC. Subotic aims to bring rigor to the food franchise sector with Go Greek Yogurt, taking a capital-efficient approach designed to multiply store count without compromising quality or control. The strategy focuses on the UAE, Saudi Arabia, and Qatar as the core of its expansion as Go Greek Yogurt. Each location serves as a blueprint for market replication across other territories. Subotic and his team have already closed several development deals, secured long-term retail positions, and entered supply chain agreements to support projected volume. Execution timelines remain tightly controlled, with site openings in Dubai and Riyadh slated for Q2. Franchise groups from Asia, Africa, and Europe have opened negotiations, with the GCC markets serving as proof of concept. As part of its continuous efforts to enhance the investment environment in the UAE, the Ministry of Finance has announced the issuance of Cabinet Decision No. 34 of 2025 on Qualifying Investment Funds and Qualifying Limited Partnerships for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, which replaces the provisions of Cabinet Decision No. 81 of 2023. The new decision aims to attract more investments and promote the growth of the national economy. Among the most significant provisions of the new decision is the introduction of a favourable tax treatment, ensuring that investors deriving income from a Qualifying Investment Fund will not be subject to UAE Corporate Tax on the income derived through the fund, provided that the real estate asset threshold (10%) or the diversity of ownership conditions are not breached. Additionally, the new decision offers greater flexibility, granting QIFs a grace period even after the first two years of establishment. All the business and entrepreneurial news from in and around the region that you absolutely must know about! 58 / ENTREPRENEUR.COM / April 15, 2025 Go Greek's Operations Now Active in GCC/ → David Subotic Founder, Chairman, and CEO, Go Greek
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