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July 2024 EXPANDING HORIZONS/ Shorooq Partners enters Türkiye P.86 LEADING LARGE/ How to manage a growing team P.53 TRAILBLAZERS/ Mastercard Women SME Leaders 2024 P.14 CONFIDENTBORN AMIRA SAJWANI/ This Emirati entrepreneur goes all in when betting on herself- and she urges you to do the same P.38
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3 July 2024 / ENTREPRENEUR.COM / Contents/July 2024 P.38 Born Confident Emirati entrepreneur Amira Sajwani goes all in when betting on herself- and she urges you to do the same. P.14 Trailblazers A recap of the Mastercard Women SME Leaders 2024, which took place on June 6, 2024, at the Bluewaters Forum by Banyan Tree in Dubai, UAE. P.44 Making change happen 33 female impact entrepreneurs from around the world were declared the winners of the 2024 edition of the Cartier Women’s Initiative. FEATURES → AMIRA SAJWANI is the Managing Director of Sales and Development at DAMAC Properties.
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10 / ENTREPRENEUR.COM / July 2024 Contents July 2024 53 Leading Large Sunset Hospitality Group’s ILIANA ORIETTA offers the low-down on what it takes to manage a growing team. 56 Standing The Test Of Time Four lessons worth learning from a 154-year-old legacy business. 57 Unlocking Potential Ideation Labs founder DIPIKA MALLYA explains how you can run a brand sprint for your organization. 86 Expanding Horizons Behind the scenes of UAE-based SHOROOQ PARTNERS’ first investment in Türkiye. 33 Going All In OMAR ALMAEENA and SAFWAN MODIR share the story of how they came to be the entrepreneurs behind Redsea Camel Company and Fatha Productions. ‘TREPONOMICS IN THE LOOP 65 Navigating Necessity RUDY YOUNES tells the tale of how he came to the entrepreneur behind two startups hitting six-figure-revenues. 70 In Focus Check out a selection of the companies enrolled in Saudi Unicorns, a national program in the Kingdom of Saudi Arabia that helps high-growth tech companies reach unicorn status. 78 The Customer Comes First Lessons from JIGAR SAGAR’S path to entrepreneurial excellence 82 Building Bonds The record attendance at this year’s edition of VISION GOLFE points to the growing economic ties between France and the GCC. STARTUP SPOTLIGHT BUSINESS UNUSUAL ↑ Jigar Sagar was featured on the pilot episode of Paradigm, a new podcast series by Entrepreneur TV Middle East P.78 EDITOR IN CHIEF Aby Sam Thomas aby@bncpublishing.net CEO Wissam Younane wissam@bncpublishing.net DIRECTOR Rabih Najm rabih@bncpublishing.net ART DIRECTOR Simona El Khoury MANAGING EDITOR Tamara Pupic tamara@bncpublishing.net FEATURES EDITOR Aalia Mehreen Ahmed aalia@bncpublishing.net REGIONAL DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net HEAD OF INNOVATION Sarah Saddouk sarah@bncpublishing.net GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa jo@bncpublishing.net COLUMNIST Tamara Clarke CONTRIBUTING WRITERS Fida Chaaban, Devina Divecha, Nailesh Khimji, Dipika Mallya, Iliana Orietta, Mina Vucic 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 2024. 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
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12 / ENTREPRENEUR.COM / July 2024 Editor’s Note/ Editor’s Note/ SAY YOUR PIECE Amid a crisis, telling your side of the story can retain customers with one foot out the door I t’s now been more than a month since news came out about a MENA startup getting rapped on its knuckles by regulators in the jurisdictions it operates in. Incidentally, that’s also how long the rest of us have been waiting for a public statement from the company on this matter. For an enterprise that invests significantly in its marketing and public relations outreach, I found its choice to remain silent about this misstep rather odd. After all, a Google search currently returns a bunch of news reports about the company’s misfortunes, while its own channels engage in what can only be called deliberate ignorance. But then again, I suppose this is par for the course in a business ecosystem whose constituents are inclined to sweep errors of judgment under the carpet as quickly as possible. I suppose the logic behind such moves is a belief that the storms they are going through will eventually pass, and that people following the situation now will, sooner or later, forget about it as well. As such, these enterprises think that operating business as usual -while pretending a wrench hasn’t been thrown in their works- is the best way to move on from the predicaments they find themselves in. Now, most crisis communication experts will tell you that it’s a never good thing for businesses to go quiet when they find themselves in the middle of a public crisis. However, let’s be honest- there are a fair number of enterprises out there who have made use of this approach when faced with a bout of negative publicity, and, well, they seem to be chugging along fine now. But that’s not to say that this is the best way to act in such a scenario either. Going back to the example of the startup I noted at the start of this piece, I find myself wondering about the points it could have scored in the public domain were it to simply acknowledge its mistakes, and then declare how it was addressing them. Wouldn’t that have allowed it to build stronger bonds with the customers it already had onboard, while also impressing potential new ones with its sheer forthrightness? In a world where reputation is as valuable -if not more so- than revenue, I worry about startups that choose to stick their heads in the sand whenever they find themselves in a tight spot. Sure, they may be able to find refuge in silence- but they are also losing out on a chance to showcase credibility and true leadership. Aby Sam Thomas Editor in Chief @thisisaby aby@bncpublishing.net
A recap of the Mastercard Women SME Leaders Awards 2024 TRAILBLAZERS 14 / ENTREPRENEUR.COM / July 2024
15 July 2024 / ENTREPRENEUR.COM / IMAGES COURTESY MASTERCARD WOMEN SME LEADERS AWARDS 2024 T he third edition of the Mastercard Women SME Leaders Awards was held on June 6, 2024, at the Bluewaters Forum by Banyan Tree in Dubai, UAE. As the first installment of the event that was held in-person, the Mastercard Women SME Leaders Awards 2024 saw entrepreneurs, business leaders, and other stakeholders from all round the world converge to celebrate the work of female entrepreneurs. The event, hosted by UAE- based broadcast journalist Sonal Rupani, kicked off with a speech from Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East, and Africa. Ajmal, who declared that the day would be “full of inspiration.” “One of the fundamental reasons why I believe it’s important to have platforms like this is to hear the stories of other SMEs, and celebrate them,” she said. “We need women to uplift women, and we need men to uplift women [too].” Following her address, the first panel discussion, titled Breaking The Glass Ceiling: Women Leadership In SMEs, was moderated by Omoke Adebanjo, Senior Vice President, Merchant & Commerce, Eastern Europe, Middle East and Africa, Mastercard. The speakers on the panel included Nezha Alaoui, CEO, Women Choice; Ola Doudin, co-founder of Bitoasis; and Aleksandra Agatowska, CEO of PZU Life (2020- 2024), World Economic Forum Contributor, and co-founder of Luu Kids. As part of the discussion, Doudin reflected on her journey into the world of financial technology and cryptocurrency, while highlighting the importance of passion and innovation in launching a business in a male-dominated industry. “For me, it was never about becoming an entrepreneur,” she noted. “It was about what is it that I can build in a space that I’m passionate about.” Meanwhile, Alaoui -who, with Women Choice (an international organization dedicated to empowering women through sustainable initiatives), aims to create one million jobs for women by 2030- empha- sized the need for systemic change and collaboration to achieve gender equality. She pointed out that, globally, women are significantly underrepresented in business leadership. “We just need to make sure that in this journey of women empowerment, there is no guilt about the buzz for women empowerment,” Alaoui said. “We have the responsibility to reverse 2,000 years of a world that was created by men for men, and a workforce where women entered very late. This is an amazing time ↑ AMNAH AJMAL, Executive Vice President, Market Development, EEMEA, Mastercard, at the Mastercard Women SME Leaders Awards 2024. → FADI GHANDOUR, Chairman of Wamda Capital and founder of Aramex, at the Mastercard Women SME Leaders Awards 2024. “WE JUST NEED TO MAKE SURE THAT IN THIS JOURNEY OF WOMEN EMPOWERMENT, THERE IS NO GUILT ABOUT THE BUZZ FOR WOMEN EMPOWERMENT.” }} #WOMENSMELEADERS WOMENSMELEADERS.COM
16 / ENTREPRENEUR.COM / July 2024 for supporting women and for this world of gender equality. It was a long journey but now we see more and more governments, institutions and corporations aligning. This is the time where we need to do the work together.” For her part, Adebanjo noted the fact that the world still doesn’t do enough to support its female entrepre- neurs. “It is said that only 7% of venture capital is invested in women-led businesses, which is ironical because it was found that when they give money to women, they make more out of that when it comes to output,” she said. Agatowska followed this point by highlighting the unique leadership qualities women bring to the table, noting that they are known to adopt a human-centric approach with their teams. “Women have really great leadership styles– I believe that this type of leadership is timeless, and not only connected to trends,” she declared. The panelists also discussed the persistent issue of the glass ceiling. Agatowska, for instance, noted how facing gender bias in her work only motivated her to push harder for equality. She added, “I don’t have to work to earn equality, it’s my human right.” Here, Doudin talked about the importance of resilience when it comes to confronting the glass ceiling, adding that women can either look at this limitation and let it hinder them, or acknowledge its existence and then choose to not let it be an impediment in their career trajectories. C ommenting on the role of collaboration in the journey of women in the SME space, Doudin said that networks and communities played an important role, particularly in the tech sector. “Initiatives that encourage female tech entre- preneurs to engage and integrate more in networks and communities are crucial, because ultimately within those communities –which tend to be flat– you can find your co-founders, ideas, investors, customers,” she noted. Both Alaoui and Agatowska agreed with this sentiment, and stressed the need for support systems, both within and outside the workplace. “Collaboration is a crucial activity for entrepreneurs,” Agatowska said. “Events like these, for example, are really important, because collaboration is also about supporting each other.” The challenge of work-life balance -especially for female entrepreneurs- was also addressed during the conversation. “The reality is that it is hard creating something from scratch, and it’s even harder if it’s a company that you’re getting off the ground where you want to make sure you’re building the right products, being competitive and reaching your customers, while also hiring,” Doudin said. “Creating businesses is not an easy task, it’s hard work. It is very difficult to have work-life balance, especially in the first few years of the launching a company.” The second panel discussion at the Mastercard Women SME Leaders Awards 2024 was titled Innova- tion And Creativity: Fueling Business Growth, and it was moderated by Beata Mońka, CEO, Art of Network- ing, and owner of Beata Mońka Business Consulting. The speakers discussing this topic included Alya Al Zarouni, COO at Dubai International Financial Centre (DIFC); Mila Smart Semeshkina, founder and CEO Lectera.com, and founder and President, Women’s Empowerment (WE) Council; and Mastercard’s own Ajmal. When talking about tactics that can help grow a business, Al Zarouni emphasized the necessity of an open mindset to foster innovation. “Being part of DIFC’s exponential growth has taught me to keep an open mindset, and to embrace change,” she said. “This approach has made me more agile and better at managing my team.” Here, Al Zarouni also highlighted the innate advantages a female perspective can bring to a business. “The beauty of being a woman is that we bring a different perspective to the table,” she said. “We tend to be more collaborative, and we also tend to be more caring. As a mother of three young kids and a cat, I really value quality time with family, and value my team’s time as well, all of which helps drive efficiency.” DON’T GET STUCK ON SOMETHING THAT IS NOT WORKING BECAUSE YOU BELIEVE IN IT.” “ 16 / ENTREPRENEUR.COM / July 2024
17 July 2024 / ENTREPRENEUR.COM / → The panel discussion on "Innovation And Creativity: Fueling Business Growth” was moderated by BEATA MOŃKA, CEO, Art of Networking, Owner of BMBC, with speakers including ALYA AL ZAROUNI, COO at Dubai International Financial Centre (DIFC); MILA SMART SEMESHKINA, founder and CEO Lectera. com, and founder and President, Women's Empowerment Council, as well as Mastercard's AMNAH AJMAL. → The panel discussion on "Breaking The Glass Ceiling: Women Leadership In SMEs" was moderated by OMOKE ADEBANJO, Senior Vice President, Merchant & Commerce, Eastern Europe, Middle East and Africa, Mastercard, with speakers including ALEKSANDRA AGATOWSKA, CEO of PZU Life (2020-2024), World Economic Forum Contributor, and co-founder of Luu Kids; NEZHA ALAOUI, CEO, Women Choice; and OLA DOUDIn, co-founder of Bitoasis. }} 17 July 2024 / ENTREPRENEUR.COM / S emeshkina, for her part, noted how it was to build a platform for female leaders that led her to launch the WE Council’s flagship event, WE Convention, a forum that allowed notable female entrepreneurs to share their successes. “The problem [I was trying to solve] was marketing, publicity, and a stage,” Semeshkina explained. “So, I decided to build a stage for female leaders where these ladies can show up, and they can tell their stories. We need to hear these successful stories, and under- stand their paths to success.” Here, Semeshkina noted that female leaders often have to work harder to be taken seriously. “If you are a female leader, you have to be the biggest professional and the biggest expert, because men will judge you twice over,” she said. “You need to show your results, and show what you can do. For entrepre- neurs, it’s about the money: you are either earning, or your business is dying.” Ajmal agreed with this sentiment, saying, “Just based on my interaction with fintech startups and entrepreneurs, I would say that putting yourself out there doesn’t come naturally to a lot of women, but you have to do it. The #WOMENSMELEADERS WOMENSMELEADERS.COM
18 / ENTREPRENEUR.COM / July 2024 world is much easier now in terms of getting access to tools and technology. But you will have to put yourself out there. You have to establish your brand and what you stand for.” And one of the ways to achieve this is by building the right community around you, Al Zarouni said. “Look for the right ecosystem that really puts you very close to innovation,” she added. “Creating that network and that support system around you is very impor- tant, and always make sure you’re out there. Share your success story. Let people know about what you’re doing, because that’s how you will get the money coming to you.” Following the panel discussions, the Mastercard Women SME Leaders Awards 2024 featured a keynote address by Fadi Ghandour, Chairman of Wamda Capital and founder of Aramex. In his talk, he focused on the importance of understanding one’s market and solving a problem, saying, “Entre- preneurship, struggle and perse- verance go together.” Ghandour then shared a poignant story of a Palestinian female entrepreneur in Rafah, Maysaa Qatati. Since the onset of the war in Gaza last year, Palestine has seen a humanitarian crisis unfolding across the country, and parents have had to deal with shortages of necessities for their children. Having noticed diapers as being one such item that parents were struggling to find for their children, Qatati launched a small-scale business in Rafah that sews diapers for babies and toddlers. “This is, for me, the most inspiring story of entrepreneurship from the ground up,” Ghandour said. “She solved a problem; she understood her market. This is a woman in war, and she created jobs for seamstresses. She created income, it was spread around. It’s [an example of] entrepreneurship as life.” THE WORLD IS MUCH EASIER NOW IN TERMS OF GETTING ACCESS TO TOOLS AND TECHNOLOGY. BUT YOU WILL HAVE TO PUT YOURSELF OUT THERE. YOU HAVE TO ESTABLISH YOUR BRAND AND WHAT YOU STAND FOR.” “ 18 / ENTREPRENEUR.COM / July 2024
19 July 2024 / ENTREPRENEUR.COM / F ollowing his address, Ghandour also took questions from the audience. One question focused on dealing with finding investors, especially if financial returns were not immedi- ately evident. To that, Ghandour said it was important to focus on future potential rather than past performance. “You have to have a punchline, and you need to attract investors that are also passionate about what you do,” he said. “Investors are looking at the future. You need to tell them about the journey you are going to have together.” Ghandour also addressed the practical aspects of entrepreneurship and advised the audience on the importance of having a well-thought- out plan and sufficient financial backup before taking the plunge into the world of entrepreneurship. “You need to have at least a year or two of savings in the bank,” he said. “You must always have a Plan B.” Another attendee asked a question about recognizing when to reinvent a business. “Don’t get stuck on something that is not working because you believe in it,” Ghandour replied. “Think about why, how you can pivot– and pivot quickly.” “I DON’T HAVE TO WORK TO EARN EQUALITY, IT’S MY HUMAN RIGHT. 19 July 2024 / ENTREPRENEUR.COM / #WOMENSMELEADERS WOMENSMELEADERS.COM ”
TAMARA PUPIC, MANAGING EDITOR | ENTREPRENEUR MIDDLE EAST AMNAH AJMAL, EXECUTIVE VICE PRESIDENT, MARKET DEVELOPMENT, EEMEA | MASTERCARD NEZHA ALAOUI, CEO, WOMEN CHOICE | SOCIAL INNOVATOR, AUTHOR, AND INFLUENCER THE RECAP THE JURY THE WINNERS 20 / ENTREPRENEUR.COM / July 2024 } THE VISIONARY Hanane Benkhalouk, founder, Tawazoun (UAE) }THE HEALTH CUSTODIAN Chelsea Hornby, founder, Elle International (South Africa) }THE F&B LEADER Laura Kaziukoniene, founder and CEO, Super Garden (Lithuania) }THE FASHION AND BEAUTY LEADER Leda Di Marti, CEO, Maelle Group LLC (UAE) }THE LEADER OF TOMORROW Reem Musabbah, co-founder, Unipreneur Inc, and Head of Community Engagement and Membership, Women in AI UAE Technology (UAE) }THE INNOVATOR Farah Zafar, co-founder and CEO, Lyvely (UAE) }THE RETAILER Pamela Lilburne Opie, founder and CEO, Linen Obsession Textile Trading Llc (UAE) }THE CREATIVE LEADER Fay Wong, Director and Partner, BID LLC (UAE) }THE PROFESSIONAL SERVICES LEADER Yuliia Fedosiuk, CEO, UAPAY (Ukraine) }THE MEDIA LEADER Jacqueline Lawrence, Highlands FM Radio (Tanzania) }MOMREPRENEUR OF THE YEAR Farah Ahmed, founder and CEO, The Baby Garage (Egypt) }HOME-BASED BUSINESS OF THE YEAR Alicia English, Executive Director, The Olive Exchange (South Africa) }THE SOCIAL IMPACT LEADER Ipek Kıraç of Suna’nın Kızları (Turkey) }THE EDUCATOR Jessy Radwan, founder and CEO, Carerha (Egypt) }LIFETIME ACHIEVEMENT AWARD Dr. Smita Francis, founder and Chair, Namibia Women in Engineering Association (Namibia)
21 March 2022 / ENTREPRENEUR.COM / #WOMENSMELEADERS WOMENSMELEADERS.COM THE CREATIVE LEADER FAY WONG D I R E C T O R A N D P A R T N E R , B I D L L C ( U A E ) THE IN NOVATOR FARAH ZAFAR C O - F O U N D E R A N D C E O , L Y V E L Y ( U A E ) A s Partner and Director at BID LLC, a UAE-based architectural model-making and 3D visualization studio, Fay Wong has made her presence felt in what remains a male-dominated field in the MENA region. With her business having completed over 6,000 projects, serving clients across 12 countries, and establishing a presence in four locations, Wong says that she now aims to further push the boundaries of architectural design and visualization, but also to make an impact by empowering women and people in need of opportunities. “As a woman who has navigated the challenges of a male-dominated field, I want my success to serve as a beacon of hope and inspiration for other women,” she says. “It’s crucial for young women entering into any industry to see that there are no limitations on women’s ability and strength. I also hope to build a stronger platform to provide more job opportunities and exposure. It is my calling and blessing to do more, and contribute more.” bidllc.ae W hile she already had a rather demanding role as the Managing Director and Chief Legal Officer of Phoenix Group, an Abu Dhabi-based cryptocur- rency mining and blockchain company, Farah Zafar decided in 2020 to be a co-founder of the social networking and content monetization platform, Lyvely, after noticing a paradigm shift in people’s mindsets about how they earned their livelihoods. “I risked my corporate career, and I undertook the journey of creating the UAE’s first sociafi platform, Lyvely,” she recalls. “Thankfully, I was raised in a family with entrepreneurial DNA, as I watched my father tirelessly work three jobs to be able to become a business owner, which, like my own entrepreneurial journey, was a process of sheer resilience and persistence. With that spirit embodied in my current journey, we have now created an award-winning platform where anyone in the world can monetize their digital presence.” Zafar’s aim with Lyvely is to empower 100 million people to improve the quality of their lives by getting paid for doing what they love, and pursuing a more purpose-based career. “We are here to help people think more entrepreneurial, empower them with financial education, and provide them with a suite of tools and a community via our Lyvely platform, which helps them take control of their digital presence and financial freedom,” Zafar explains. “While we plan to connect the world to monetization opportunities through our digital platform, we also have a vision to expand Lyvely beyond the internet and into communities and cities around the world that suffer from poverty, lack of resources, or limited access to opportunities, and then lead them to financial gain.” lyvely.com July 2024 / ENTREPRENEUR.COM /
22 / ENTREPRENEUR.COM / July 2024 THE F&B LEADER LAURA KAZIUKONIENE F O U N D E R A N D C E O , S U P E R G A R D E N ( L I T H U A N I A ) L aura Kaziukoniene, founder and CEO of Super Garden, a Lithuania-based provider of freeze-dried sweets, has had big goals for her business from the outset. Today, her company not only exports its products to more than 40 countries around the world, but it also develops meals for astronauts. “The European Space Agency trusts us to develop meals for astronauts, and we are now starting to work with the military,” Kaziukoniene explains. “In just eight years, Super Garden has become a global leader in freeze-dried innovations suitable for children’s and astronauts’ daily lives.” Now, it’s easy to see why Super Garden has been able to attain such success when you consider BITES, the innovative snacks that it has created that also pack a significant amount of nutritional value. “For instance, a whole carrot can fit into a one-centimeter cube, and so can 10 strawberries,” she explains. “Our carefully selected ingredients provide the right mix of carbohydrates, protein, and fat, perfectly balancing the daily diet without any food waste. These snacks could even be printed by a 3D printer. We aim to revolutionize snacking habits, making them healthier and more interactive!” Finally, when asked for her advice for women wishing to become entrepreneurs like her, Kaziukoniene replies, “I want to encourage women not to be afraid to start their own businesses at a mature age, and follow their dreams!” supergarden.lt THE HEALTH CUSTODIAN CHELSEA HORNBY F O U N D E R , E L L E I N T E R N A T I O N A L ( S O U T H A F R I C A ) H aving founded Elle International, a South Africa- based public benefit organization, Chelsea Hornby has touched the lives of over 50,000 girls and women by providing them education on menstrual health, and by championing sustainable menstrual health solutions. “Elle is now positioned to advance health equity at a regional level in Africa through state-of-the-art technology,” Hornby adds. “Our holistic and integrated approach addresses key deficiencies in women’s health, from pre-menstrual stage education, to access to safe period care products and medical professionals. By leveraging data and technology, we are driving meaningful change and providing women with the tools they need to lead healthy and empowering lives.” Now, as her company expands its reach and influence, Hornby is able to witness firsthand the transformation taking place among the women her enterprise serves. “They are no longer just recipients of aid; they are becoming agents of change in their own lives and communities,” she explains. “There have been girls hesitant to engage with our programs at first, unsure of their own worth and potential. But as they partici- pate in our workshops and receive access to vital health resources and information, I see the fire ignite within them, as they begin speaking up in meetings, sharing their ideas, and advocating for themselves and others.” ellecup.org
#WOMENSMELEADERS WOMENSMELEADERS.COM 23 THE RETAILER PAMELA LILBURNE OPIE F O U N D E R A N D C E O , L I N E N O B S E S S I O N T E X T I L E T R A D I N G L L C ( U A E ) I n founding UAE-based Linen Obsession Textile Trading, Pamela Lilburne Opie aimed to bring European, Australian, and British brands in categories like bedding, furniture, and home decor to the GCC region, but she also had a behind-the scenes goal for the enterprise- which was for it to be a supportive, ethical, and socially responsible corporate environment. Proof of this can be seen in Lilburne Opie’s refusal to let go of any of her staff during the onset of the COVID-19 crisis. “Although I respect that every business has to manage its own unique set of circumstances, and I do not judge anybody else, I do not consider it a possibility to lay off staff in the bad times, whilst taking advantage of them in the good times,” she says. “If my staff were to not stay employed by my company during the COVID-19 crisis, how would they find any other work, and who would feed their families both here and back home?” Her thought process then has been carried forward to how she goes about leadership at her company today, which sees her continue to take into consideration the overall well-being of her employees. “We aim to maintain policies that give career development, freedom, autonomy and flexibility, as long as the company needs are met at the same time,” Lilburne Opie says. “Profit is important to support the business and everyone in it (including my family); however, profit is not the only goal. Creating win-win outcomes with everyone is a crucial aim– suppliers, custom- ers, and team members should all be able to benefit from their interaction with my company. Loyalty, honesty, and ethics are key qualities that we value.” linenobsession.ae THE P ROFESSIONAL SERVICES LEADER YULIIA FEDOSIUK C E O , U A P A Y ( U K R A I N E ) W hen she launched UAPAY, Yuliia Fedosiuk aimed to transform the payment systems market in Ukraine by offering reliable and innovative solutions, and now, with one of its newest offerings, friendo. cash, her goal is even bigger- to develop a tool that can truly unite people. “I am confident it will have a profound impact on the fintech industry and communities world- wide,” Fedosiuk says. “friendo.cash is more than a financial platform; it’s a unique community-driven financial ecosystem where every interaction strengthens your social and financial bonds. The platform transforms the financial experience into a social network, where your finances become an integral part of a larger, supportive community.” Fedosiuk goes on to explain that friendo.cash is a platform that supports various payment methods, including cryptocurrencies, and it thus offers a reliable alternative that can adapt to the needs of different user groups. “Ultimately, we want to create a supportive financial ecosystem where everyone, regardless of their starting point, can achieve financial stability and growth,” she says. “My vision is for friendo.cash to bridge the gap between traditional financial systems and the future of digital finance, fostering a more inclusive, connected, and prosperous world.” uapay.ua July 2024 / ENTREPRENEUR.COM /
24 / ENTREPRENEUR.COM / July 2024 24 / ENTREPRENEUR.COM / July 2024 THE FASHION AND BEAUTY LEADER LEDA DI MARTI C E O , M A E L L E G R O U P L L C ( U A E ) I n 2015, Leda Di Marti founded the Maelle Group LLC in Milan with the vision of creating a platform to help European brands expand into new markets. In 2021, she relocated the headquarters of the Maelle Group to Dubai, driven by the opportunities and vibrant business environ- ment in the region. Today, the company has offices in Milan, New York City, and Dubai, which ensures its global presence. Di Marti has since gone on to also launch Fashion Explained, a company dedicated to supporting young designers as well as those looking to relaunch their careers in this domain. Maelle Group is currently planning to host a grand pitch competition at Milan Fashion Week in 2026, which shall allow designers to present their sustainable projects to potential investors. “I hope my work will contribute to the growth and success of small to medium-sized fashion brands, particularly those with revenues between EUR40 million and EUR170 million,” Di Marti says. “We are passionate about making a difference in these businesses, helping them to grow and thrive. Furthermore, we believe in the importance of creating a circular fashion industry. The future of fashion depends on our ability to innovate sustainably and responsibly. Through our efforts, we aim to support brands that not only excel creatively, but also embrace sustainability and ethical practices. By doing so, we hope to foster an industry that values creativity, supports human development through the arts, and is committed to a sustainable future.” maelleapp.com THE EDUCATOR JESSY RADWAN F O U N D E R , E L L E I N T E R N A T I O N A L ( S O U T H A F R I C A ) A t 23, Jessy Radwan found herself having to choose between her career advancement and her parental duties, because finding flexible employ- ment in Egypt was essentially non-existent at the time. Her struggle in this regard eventually led her to launch HireSuperMama, a Facebook group that aimed to help mothers find flexible jobs- and the platform did exactly that for over 50,000 women. Radwan thus came to realize that there was a pressing need to support women in their pursuit of meaningful careers while accommodating their personal commitments, and that led to the launch of her female-focused edtech platform, Carerha. Some of the company’s achievements to date include launching more than 90 masterclasses, 50 courses, 30 female-focused programs, as well as launching the career coaching service for over 5,000 women. Plus, Carerha staged the Carerha Summit in 2022 and 2023, with over 8,000 attendees. “I am deeply committed to empowering women to achieve genuine work-life balance, enabling them to thrive both professionally and personally on their own terms,” Radwan says. “By fostering economic empowerment, my goal is to help women unlock their fullest potential and embrace the best versions of themselves. This transformation is not just about career success; it’s about granting women the freedom to make life choices that truly reflect their values and aspirations, liberating them from the need to settle for anything less than what they deserve. Through my work, I aspire to create a ripple effect that not only uplifts individual women, but also reshapes our community by advocating for equality and justice in every sphere of life.” carerha.com
25 July 2024 / ENTREPRENEUR.COM / #WOMENSMELEADERS WOMENSMELEADERS.COM 25 MOMREPRENEUR OF THE YEAR FARAH AHMED F O U N D E R A N D C E O , L I N E N O B S E S S I O N T E X T I L E T R A D I N G L L C ( U A E ) F arah Ahmed, founder and CEO of The Baby Garage, an Egyptian online platform that connects buyers and sellers of children’s products or services, has a clear mission for her enterprise- to advance women’s empower- ment, and to foster inclusive economic growth, while promoting sustainable consumption and production practices. “The Baby Garage is more than an online trade model with fintech solutions, or another web-based marketplace,” Ahmed says. “The Baby Garage is a force for innovation and change that creates a lasting impact. At the core of our mission is a deep commitment to social impact, particularly in empowering women throughout their motherhood journey. We recognize the multifaceted needs of mothers, extending our support to encompass both their career aspirations and their children’s essential needs.” Having built The Baby Garage out of an online social community that connected over one million mothers across various platforms, Ahmed sees the platform as a transformative online marketplace that empowers mothers to save, earn, and circulate items, while also safeguarding their kids’ futures. “Leveraging our network of professional sellers, including retailers and manufacturers, we champion the growth of home-based women-led businesses by providing essential resources, such as supply, e-commerce logistics, marketing services, and online sales channels,” she says. “This inclusive approach serves as a gateway for home-based careers, enabling women to establish their own online storefronts, and thrive in the ever-evolving e-commerce landscape.” thebabygarage.com HOME-BASED BUSINESS OF THE YEAR ALICIA ENGLISH E X E C U T I V E D I R E C T O R , T H E O L I V E E X C H A N G E ( S O U T H A F R I C A ) I n August 2021, Alicia English published a children’s book called I Miss Daddy, which she co-wrote with her now 10-year-old son Matthew, in memory of her late husband Noel English, who had passed away in January that year. ”I had quit my job as magazine editor in April that year to be with my three sons, who were only 17, six, and two years old, when their dad died,” she explains. “We have since used the book as a platform to create awareness about child grief in Cape Town, and donated close to 2,000 books to under-resourced schools in Cape Town.” Not long after, English’s research in the field led her to a realization that 81% of Grade 4 learners and 56% Grade 6 learners in South Africa struggle with reading comprehension (according to Progress in International Reading Literacy Study 2021), and it is with an aim to overturn this stat that she founded The Olive Exchange, a Cape Town-based publishing house that publishes affordable children’s books. “Most parents cannot afford to buy their children story books,” she explains. “If they have to choose between a bread and a book, they will buy the bread- I would too. As such, I want to flood our schools in under-resourced communities with affordable children’s books, and get our children to fall in love with reading once more. ” Another of her goals is make the publishing landscape in South Africa more diverse. “We still have too few women of color in executive positions in this industry,” English says. “We need to transform our industry. It is not enough to fill operational/editorial positions with competent people of color. We need inclusion and equal representation at the executive level too.” oliveexchange.net July 2024 / ENTREPRENEUR.COM /
26 / ENTREPRENEUR.COM / July 2024 26 / ENTREPRENEUR.COM / July 2024 THE MEDIA LEADER JACQUELINE LAWRENCE H I G H L A N D S F M R A D I O ( T A N Z A N I A ) J acqueline Lawrence founded Highlands FM Radio in Southern Tanzania with the aim for it to be an outlet that allowed people in the region to use their voices to get better public services, as well as to access timely and accurate information to assist with their day-to-day lives. In line with that, her radio station has been running programs that enable the public to question the government and raise their concerns; plus, Highlands FM Radio is also known for disseminating knowledge on a wide variety of topical themes, which run the gamut from healthcare to agriculture. Lawrence’s work over more than a decade has been so impactful that it has since inspired other media houses to follow suit. “In Tanzania, 91% of the population get access to information via radio, and almost all radios in the country used to solely focus on entertainment information,” Lawrence shares. “Our radio programs are diverse, and they enable our audience to get in touch directly with any organization of their desire. We hope to ensure equal rural and urban development and poverty reduction from 50% to at least 15% in Tanzania, through transparency, accountabil- ity, and working together with organizations to fight the development setbacks, region by region. Our vision is to have a Highlands FM Africa, a media house challenging development setbacks region-wide.” THE SOCIAL IMPACT LEADER IPEK KIRAÇ F O U N D E R , S U N A ’ N I N K I Z L A R I ( T Ü R K I Y E ) I t was in honor of her late mother Suna Kıraç, who dreamt of a modern Türkiye where girls were empow- ered, that İpek Kıraç founded Suna’nın Kızları, or Suna’s Daughters, a multi-stakeholder initiative aimed at creating scalable models that build capacity, drive investment, and strengthen systems for girls. "As pioneers of the collective impact approach in Türkiye, our goal is to learn together, to mobilize, and to amplify the impact of civil society, youth, governments, and the private sector in a coordinated, synergistic effort,” Kıraç explains. Having identified Southeast Türkiye as the most disadvantaged region for girls based on the high rates of school dropout, gender-based violence, and early and forced child marriages, Kıraç and her team thus set out to bring about change. "We began by creating a nurturing ecosystem for girls and boys, especially in cities like Şanlıurfa, where challenges were the hardest,” she shares. “We narrowed down our efforts to this geography, which also has historic and demographic ties to the Middle East.” Today, the success of the Suna’s Daughters initiative lies in its ability to turn its goals into action, and realizing tangible results that are strengthening and activating its diverse partners, local communities, and the girls they serve. "As I mentioned in my speech at the United Nations General Assembly meeting last year, I believe that the decisions we make by centering the needs of girls have the power to change the world,” Kıraç says. "I am thankful to all my partners who have been supporting us in maintaining our efforts." sunaninkizlari.org
27 July 2024 / ENTREPRENEUR.COM / #WOMENSMELEADERS WOMENSMELEADERS.COM 27 THE LEADER OF TOMORROW REEM MUSABBAH C O - F O U N D E R , U N I P R E N E U R I N C . ( U A E ) T o date, Reem Musabbah has established and managed a tech solutions house, Esaal Solutions, co-founded Retech, a tech firm specializing in providing creative digital and technological solutions for startups and enterprises, and co-founded Unipreneur Inc., a UAE-based engagement and development platform that aims to nurture youth aspiring to be responsible entrepreneurs, intrapreneurs, innovators, and future leaders. Musabbah is certainly keeping busy, but all of the work that she does is ultimately furthering her mission to empower the next generation of leaders and innovators in the UAE- as an example, Unipreneur Inc. has, so far, collaborated with over 35 school and university incubators, impacting 2,000+ young entrepreneurs, and successfully organized 100+ youth events and engage- ments. “By providing youth with the tools, knowledge, and networks they need to succeed, I hope to cultivate a culture of entrepreneurship that drives economic growth and societal progress,” Musabbah says. “My vision is to see our young entrepreneurs leading successful ventures, contributing to the global innovation landscape, and inspiring others to pursue their entrepreneurial dreams. Ultimately, I hope to see a more connected, innovative, and inclusive community where everyone has the opportunity to make a difference.” unipreneur.co THE VISIONARY HANANE BENKHALOUK F O U N D E R , T A W A Z O U N ( U A E ) A s the founder of Tawazoun, a UAE-based social enterprise offering comprehensive solutions in wellbeing and sustainability, Hanane Benkhalouk is on a mission to help individuals and organizations redefine the meaning of productivity and success. “We advocate for balancing profit with well-being, authority with empathy, efficiency with sustainability, and individual achievement with community welfare,” she explains. “By promoting holistic well-being and human-centric values, we aim to shift the focus towards sustainable growth and enhance the quality of life within communities. This is why we refer to our solution as the ecosystem of balance.” That said, Benkhalouk also hopes that Tawazoun will impact communities as well. “We ensure that our solutions incorporate cultural context rather than importing global concepts,” she says. “This is reflected in our Arabic name for balance. By creating safe spaces for dialogue, we aim to put a smile on our communities, employees, customers, and society at large. Our work is from the community to the community, driving impactful change and building a generation that values balance and holistic well-being. We believe that business practices can and should drive social change, addressing business and societal challenges in a unified, non-fragmented manner.” tawazoun.com July 2024 / ENTREPRENEUR.COM /
28 / ENTREPRENEUR.COM / July 2024 28 LIFETIME ACHIEVEMENT AWARD DR. SMITA FRANCIS , F O U N D E R A N D C H A I R , N A M I B I A W O M E N I N E N G I N E E R I N G A S S O C I A T I O N ( N A M I B I A ) “ I wanted to ensure that women get equal opportunities to excel in engineering, and receive the education and support they need to succeed.” That’s how Dr. Smita Francis describes her intention behind founding the Namibia Women in Engineering Association (NAMWIE), a platform that fosters growth, learning, and collaboration among female engineers in Namibia. Today, NAMWIE boasts of 183 members who are female engineers and technicians from diverse fields in the industry, as well as a student association with 73 members. “I hope to inspire more young women to pursue careers in engineer- ing, thereby diversifying the field and driving innovation, but in the community, my goal is to promote the importance of quality education and gender equality,” Dr. Francis says. “Through educational programs, workshops, and competitions, I hope to instill a sense of empowerment and confidence in young girls, encouraging them to dream big, and achieve their full potential. By fostering an inclusive environment, we can create a more equitable society where everyone has the opportunity to contribute to and benefit from technological advancements.” linkedin. com/company/namwie
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33 July 2024 / ENTREPRENEUR.COM / Going All In Omar Almaeena and Safwan Modir share the story of how they came to be the entrepreneurs behind Redsea Camel Company and Fatha Productions by TAMARA PUPIC ← Omar Almaeena and Safwan Modir are the co-founders of Redsea Camel Company as well as Fatha Productions. IMAGES COURTESY REDSEA CAMEL COMPANY
34 / ENTREPRENEUR.COM / July 2024 B/The Big Idea W hile many entrepreneurs can express strong feelings when explaining what building a venture means to them, only few can perhaps encapsulate their fiery entrepreneurial passion in one sentence like Omar Almaeena, who co- founded Redsea Camel Company, a camel breeding farm located in the Al Qassim region of Saudi Arabia, as well as Fatha Productions, a Jeddah-based production company, with his “best friend and brother,” Safwan Modir, three years ago. "In 2021, I teamed up with Safwan, and we embarked on what could be the journey of our lives, bringing everything we have learned in our professional careers to our new businesses,” he says. "This is what I feel I was destined to do, and our journey has just begun.” Breeding camels has been a traditional skill passed from generation to generation across the Arabian peninsula, but Almaeena and Modir have added a modern business twist to it. Redsea Camel Company breeds the Mizayeen variety of camels, which Almaeena says are high-quality camels that belong to the top six bloodlines of these animals in the region. Starting with just one camel in 2022, the company now has more than 50 of them, with the average sale price standing at about SAR100,000 (US$26,654) for each; that said, they are sold as part of packages that include veterinary care, feeding, lodging, and general care for the animals, all of which can be customized to the needs of the customer in question. "Our biggest unique selling point are these packages, because they help us attract more people to the industry,” adds Modir. "Our proposition is that this is an investment with an average return on investment between 15%-20%. That’s a great return compared to other investments in the market with similar or lower risks. Plus, we have to remember that this is still a new industry with not a lot of prior data to compare and build on, but hopefully, we will be gathering more and more information in the coming years as we believe in this industry, especially with a lot of attention paid toward the camel industry by the Saudi government.” Almaeena adds, “We were the first camel owners to incorporate a company and treat breeding as a business, introducing packages for customers, digitizing the whole process, and offering camel care for our customers and ourselves.” As a business, Redsea Camel Company is particularly focused on the King Abdulaziz Camel Festival, which is organized by the Camel Club, an organization ← Breeding camels has been a traditional skill passed from generation to generation across the Arabian peninsula, but Almaeena and Modir have added a modern business twist to it with Redsea Camel Company.
35 July 2024 / ENTREPRENEUR.COM / launched by Saudi Arabia’s Crown Prince Mohammed bin Salman in 2017 to preserve and showcase Arab heritage in caring for camels, while also turning it into a sustainable industry. Held in Al-Sayahid, 120km northeast of Riyadh, the King Abdulaziz Camel Festival is a 45-day cultural, economic, sports, and entertainment event, with one of its key highlights being a beauty competition for camels. Thousands of camels partici- pate in this contest that has prizes worth more than $80 million up for grabs. “It is the biggest camel beauty competi- tion in the region, and camels are eligible to participate when they reach the age of one year and eight months old,” Almaeena notes. Modir adds, "We are expecting that our clients will participate in the competition next year. A couple of the mothers that we own competed in the competition in previous years; plus, a camel from one of our studs took the second place last year, before we acquired it, and that, of course, raises the value and prices of our camels.” Once the entrepreneurial duo took a deep dive into the camel world, they realized that their whole experience of starting up a camel breeding farm, learning about this age-old tradition, and developing innovative solutions to modernize it was, simply put, worth filming. And that was how the Almaeena and Modir came together to launch their second venture, Fatha Productions, which produced Camel Quest, a comedy docu-series also starring the duo, which premiered on the global streaming platform Netflix in early 2024. The show’s six episodes, which were filmed from November 2021 to January 2022, showcase Almaeena and Modir -aka "SAFFwOMZZ"- exploring the Kingdom’s camel industry, with their ultimate goal to make it to the King Abdulaziz Camel Festival. Describing it as a “blend of humor, friendship, and cultural exploration,” the show came out just as the Saudi Arabia Ministry of Culture declared 2024 as the “Year of the Camel.” "In 48 hours, we made it to Netflix’s top 10 ranking in the region,” Modir adds. "The show is unique in a way, because it combines comedy, travel, adventure, knowledge, and, of course, our camels, and it also touches upon friendship and much more. It’s a show everyone would enjoy, and that’s what Netflix saw.” Speaking about the deal Fatha Productions secured with Netflix, Almaeena says that pitching Camel Quest to a notable streaming service was a goal for the company from the outset. "We have had our ups and downs trying to get this show sold, because getting on Netflix is a process and a long one, but we learned to be patient,” he says. That said, for any creatives seeking to attract the attention of Netflix and the like, Almaeena’s advises them to make sure they have a strong concept or idea, while also ensuring that money isn’t the only objective, and “that there’s more to why they are doing it.” As for what’s what’s next for Fatha Productions, Modir and Almaeena aim to work on creating out-of-the-box content in different genres and formats. “Currently, we have several projects in different stages of development and production with a mix of feature films, television shows, and anima- tion across different genres, such as action, comedy, and drama,” Almaeena says. "The focus is always on the story, the team, the cast, and the message, as we believe that the financials will follow, when our aim is do the best possible production that we can do.” The honesty and passion shown in this statement should take one back to the beginning of this feature, while also explaining why Almaeena and Modir consider their work in the camel industry and content creation to be "the journey of their lives”- after all, the two friends had no experience in either of the two fields prior to starting, but they went all in nevertheless. Modir, for instance, had a high profile career in hospitality that saw him become the youngest hotel general manager in Saudi Arabia in 2019, managing luxurious hotels, and even turning one into the headquar- WE WERE THE FIRST CAMEL OWNERS TO INCORPORATE A COMPANY AND TREAT BREEDING AS A BUSINESS, INTRODUCING PACKAGES FOR CUSTOMERS, DIGITIZING THE WHOLE PROCESS, AND OFFERING CAMEL CARE FOR OUR CUSTOMERS AND OURSELVES.” }} ← Camel Quest, a comedy docu-series starring Almaeena and Modir, premiered on the global streaming platform Netflix in early 2024, and made it to Netflix’s top 10 ranking in the region in 48 hours.
36 / ENTREPRENEUR.COM / July 2024 ters of the first Formula One race in Jeddah. Similarly, Almaeena’s educational background in finance and marketing led to a career in banking in London, Singa- pore, and Jeddah, and further to venture capital, which saw him investing in more than 20 startups and achieving a couple of successful exits, one of which was the San Francisco-headquartered ride-hailing service Lyft, a rival of Uber. So, how did they end up in an industry so different from all they knew up until then? "Safwan saw an opportunity in the camel world while surfing on X, he saw that something was going on around camels, and a huge beauty festival where you get to meet the King and Crown Prince,” Almaeena replies. “That was at the end of November 2020, and so, he decided to participate, and who was crazy enough to join him on this crazy adventure, but his childhood friend, me, who had just come back from Los Angeles.” Modir adds, "Knowing nothing about the camel world was our main challenge. It took us three years to figure out how things work. We truly did go on a quest to understand the camel world; we even went on a camel bootcamp to really learn about camels. In the end, we managed to modernize the entire industry, and come up with a business model that can generate revenue and very high profits.” A similar ethos governed their exploits with Fatha Productions. “With regards to the film industry, we saw that our story was somewhat a unique one,” Modir says. “Leaving everything we ever knew to go deep into the camel world, and creating a business out of it, is something worthy filming. We also always secretly wanted to be actors, and we felt we had good comedic chemistry together; hence, we went for it.” Being bold enough to start from scratch is thus what Almaeena and Modir consider to be the true essence of entrepreneurship . “Being an entrepreneur means that you start a business as if you have nothing to fall on; you are your only back-up plan,” Almaeena says. "Our journey in the camel industry was about working smartly, which led to, for example, discovering that you don't need that big of an investment as we thought when first started, but to get our hands dirty, and spend time with the camel owners in the desert, which we did do till we finally understood it all." Being in Saudi Arabia also helped, Modir adds. “It has become the destination of choice for many industries; the strides that the country has taken in the past few years till today are remarkable,” he says. “We have seen great growth and opportunity in the film industry in Saudi Arabia, as well as the Kingdom’s entrepreneurship space. There is a lot of funding available, and the conditions for getting licenses and doing businesses in general have been im- proved, all of which helps these industries. It’s truly a great place for content creators, filmmakers, and startups, because there is so much growth potential." ↑ ← Stills from the Netflix show, Camel Quest.
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38 / ENTREPRENEUR.COM / July 2024 CONFIDENTBORN This Emirati entrepreneur goes all in when betting on herself- and she urges you to do the same AMIRA SAJWANI by ABY SAM THOMAS 38 / ENTREPRENEUR.COM / July 2024
39 July 2024 / ENTREPRENEUR.COM / “Bet on yourself. And when you’re betting on yourself, you’re all in.” 39 July 2024 / ENTREPRENEUR.COM /
PRYPCO enables you to invest in Dubai's real estate with as little as US$500, offering a selection of properties curated by top experts. } → AMIRA SAJWANI is the Managing Director of Sales and Development at DAMAC Properties, which is DAMAC Group’s property development arm that has projects spanning the GCC, Levant, Middle East, United Kingdom, and United States. She is also the founder and CEO of PRYPCO, a UAE-based proptech firm on a mission to “change the rules of the real estate game,” as well as the co-founder of Amali Properties, a UAE-based boutique ultra-luxury property development firm. 40 / ENTREPRENEUR.COM / July 2024
41 July 2024 / ENTREPRENEUR.COM / I f there’s one thing about Amira Sajwani that stuck with me after I chatted with her for about half an hour or so, it would have to be the confidence that she showcased when speaking with me- indeed, I was truly bowled over by how self- assured this Emirati entrepreneur appeared to be. That said, I perhaps shouldn’t have been surprised by it at all, given that she is the daughter of Hussain Sajwani, the legendary founder of the Dubai-born global business conglomerate, DAMAC Group, and, as the saying goes, the apple never does fall far from the tree. Sajwani herself confirmed this when I asked her about where she gets all of her pluck from, saying that as a child, her father always made her feel that there was nothing someone else could achieve that she couldn’t as well. “I was told that I have potential that I need to tap into, full-stop,” Sajwani shares. “And that has given me a lot of confi- dence.” It is thus to Sajwani’s credit that she cuts an extremely compelling figure in all of the roles that she currently essays in the business world. At DAMAC Group, for instance, Sajwani acts as the Managing Director of Sales and Development at DAMAC Properties, which is the conglomerate’s property development arm that has projects spanning the GCC, Levant, Middle East, United Kingdom, and United States. Talking about her role in the family business, Sajwani says that she doesn’t see herself as an employee there; on the contrary, she considers herself to be “an owner and an entre- preneur in the DAMAC ecosystem.” At the same time, she also has entrepre- neurial pursuits that don’t fall under the DAMAC umbrella- one of these is Amali Properties, “a boutique ultra- luxury property development firm” that she launched in the UAE with Ali Sajwani, one of her three brothers. In addition, Sajwani is also the founder and CEO of PRYPCO, a UAE-based proptech firm on a mission to “change the rules of the real estate game.” Now, Sajwani has ambitious ideas for all of the companies that she is a part of, but it is when she talks about PRYPCO that her eyes especially light up. It’s easy to understand Sajwani’s excitement though- as a one-stop shop that brings together buyers, investors, homeowners, developers, brokers, and agents on a single platform, PRYPCO is essentially reimagining how we go about any activity within the real estate sector today. For instance, finding a house in the UAE would have previ- ously needed one to solicit agents and brokers to actually search for a property, while also seeking the support of banks for everything from loan re-approvals to mortgage rates, and, in the middle of all that, also look into securing a long-term visa to reside in the country. Of course, these just constitute a top-line view of the entire process- there will almost certainly a plethora of other tasks that come up as one goes through it, and each would have often required one to liaise with yet another new party. But according to Sajwani, such problems -along with other troubles commonly seen in the real estate domain- can be a thing of the past with PRYPCO’s offerings. H ere, Sajwani first points our attention to PRYPCO Mortgage. She says that she has witnessed first-hand the difficulty of getting a good mortgage }} → Amira Sajwani is one of the judges (aka "sharks") on the reality television series, Shark Tank Dubai. IF YOU CAN’T ACCEPT FAILURE, YOU’RE NOT GOING TO BE ABLE TO BE AN ENTREPRENEUR. BECAUSE NOTHING IN LIFE DOESN’T COME WITH FAILURE.”
42 / ENTREPRENEUR.COM / July 2024 deal in Dubai, and that’s why this offering exists- to break down the process, to digitize it as much as possible, and to ease the journey, from start to finish. And the best part of it all? It’s a one-stop-shop for the customer should they choose to work with PRYPCO on this undertaking. No wonder then why it’s found favor with the market at large- and Sajwani has the numbers to back this assertion. “Last month, we did around US$100 million worth of mortgage disbursements,” she reveals. “So, we’re on track with that offering, and it’s growing well.” Another of PRYPCO’s offerings came about after Sajwani noted how high costs were blocking new investors from entering the real estate domain in Dubai. PRYPCO Blocks therefore breaks down prime properties into fractions (aka “Blocks”) thus opens up the asset class to a new set of retail investors who, while not being able to afford an entire property, would find them- selves able to gain entry into the market all the same. “We just closed our first property on PRYPCO Blocks,” Sajwani adds. “It was fully funded on the platform a couple of weeks ago. We’re up to our second and third properties on the platform now; so, the traction is building, but we’re still quite new.” B ut the novelty of PRYPCO’s offerings also means that the fledgling proptech enterprise will have a fair number of hurdles to deal with on its pathway to growth. “Look, there is a big education curve for it,” Sajwani admits. “I think that the first impression many people have of PRYPCO’s offerings is to wonder if this is a scam! Like, is it too good to be true? Will this person take my money and run away, and if so, how would I get my money back? So, I think, starting off, there’ll be a lot of education that is required, but, with me being who I am, in all humility and gratitude, that’s definitely going to help in terms of just credibility. I’m hoping that people research and realize that we’re not going to run away, and that we are a Dubai Financial Services Authority-regulated entity… But while the education curve is the biggest challenge right now, I don’t see that to be something that cannot be overcome either.” That said, Sajwani believes that PRYPCO stands to gain a lot if it can make it through this challenging initial period- as she put it: “I think that the proptech industry has massive potential that hasn’t been tapped into yet.” Sajwani clearly has an eye for opportu- nities- that facet of her personality was quite evident in her participation on the reality television series, Shark Tank Dubai. The first season of the show, which debuted on Dubai TV in Decem- ber 2023, had Sajwani as one of the judges (aka “sharks”) evaluating short pitches by entrepreneurs seeking investments for their startups. Now, donning an investor hat for Shark Tank Dubai didn’t come too difficult to Sajwani, given her experience working with the family office at DAMAC Group, which is known to regularly invest in startups, as well as venture capital and private equity funds. As such, Sajwani has a rather clear-cut formula when it comes to deciding whether to back a startup or not- and she had no qualms about revealing the three-point system that governed pretty much of all her moves while on Shark Tank Dubai. “I believe in three principles when it comes to investing in a company,” Sajwani says. “Number one, and most important for me, is the founder. I need to think that the founder is capable, whether it’s based on their energy, or their vision, or even their ability to answer questions that are not related to the business. For instance, if I ask someone what their biggest challenge was and how did they overcome it, and they reply saying they’ve never had a challenge, then I think there’s some- thing wrong there. After all, every founder has had a challenge- you need to be able to acknowledge that, and rise above it. Beyond the founder, the second thing I look at is the size of the market and the opportunity. Is there an actual market for this product, and is it scalable to a required level where you are making, say, 10x on your invest- ment? And lastly, the third thing that I look at is what is the capital that they’re asking for, and the valuation that they’re stating- to see if the numbers make sense.” H earing Sajwani talk about founders and challenges makes one wonder about the hurdles or failures that she has personally faced in her time as an entrepreneur. “Those happen regularly,” Sajwani replies. “Business is business- there are up days, and there are down days. Examples would be irrelevant, because there are so many examples. Whether it’s, say, a failed month on targets, or a failed launch, or management that’s made a wrong decision in hiring, or not being able to get the right set of data- there’s a lot of instances that can happen. But in any case, I think that the most impor- tant thing to do then is to just shake it off, and to say, ‘Yes, I’ve made a mistake, and now, it’s time to fix it.’” According to Sajwani, such a mentality is essential if you are going to be a founder. “If you can’t accept failure, you’re not going to be able to be an entrepreneur,” she says. “Because nothing in life doesn’t come with failure.”
43 July 2024 / ENTREPRENEUR.COM / L earning to deal with failure, as it turns out, ranks high among the most important lessons that Sajwani learnt from her entrepreneurial icon of a father. “There’s a lot that I and my brothers have learned from my father, but if you were to ask about the most impactful, number one would be to not be afraid of failure,” she shares. “If you fail, you get up, and you move on. That is the definition of an entrepreneur, the ability to get up from failure. Second would be to seize opportunities, and to go all in. If you think that the opportu- nity is there, and that you are able, then you should do whatever you can to grow and scale your idea. Don’t be afraid of how big that opportunity might be, and don’t question yourself. The third is to never assume that you know every- thing. My father always used to always tell us, if you’re the smartest person in the room, you’re in the wrong room. So, you need to surround yourself by people that are specialized in areas where you are not- that’s how you build the right team around you, so that your enterprise is able to grow in the manner that you want.” S ajwani’s characteristic confidence comes to the fore again as she shares such pieces of advice for her fellow entrepreneurs, but when I ask her how others can take a page out of her book when it comes to her self-assuredness, she does hesitate, albeit only for a moment. “I have two young kids, and I’m in the same dilemma, having this conversation all the time about how we can cultivate confidence in them,” she says. “I think confidence starts from a very young age, and it’s very dependent on parents, and how they push their kids. I think it’s very important for parents to tell their kids well done, no matter if are on the winning side or on the losing side, as long as they did their best. So, I think confidence starts from an early age… But if somebody older in life is asking that question, then I think that it needs to come from a very inward reflection of how you see yourself. If you see yourself with strength, with capability, and with this, let’s say, bubble of confidence, then it’ll come. However, this is not an overnight kind of achievement- and it’s okay to be working on it.” That said, there may well be things you can do to hasten the process. “Bet on yourself,” Sajwani suggests. “And when you’re betting on yourself, you’re all in.” → With PRYPCO, Amira Sajwani aims to empower individuals with the freedom to engage in and benefit from the real estate asset class. ↓ Amira Sajwani, with her father, DAMAC Group founder Hussain Sajwani. “I think that the proptech industry has massive potential that hasn’t been tapped into yet.” }
44 / ENTREPRENEUR.COM / July 2024 F or Shahira Yahia, co-founder and Chief Marketing Officer of Egypt-based Chitosan, being declared one of the winners of the 2024 Cartier Women’s Initiative (CWI) was the culmination of a long-held dream- after all, the 30-year-old entrepreneur had been following this program since she was in high school. That said, this was the first time Yahia had applied to be a part of the program, and when asked why she hadn’t applied to be a part of the program earlier in her entrepreneurial career (Chitosan was launched in 2018), she pointed to imposter syndrome as being a key barrier that she had to overcome.Such feelings of self-doubt only add to the roadblocks that Yahia and other female founders like her often have to deal with as they make their way in the global business arena- plus, these difficulties get com- pounded if they operate in the social impact space. All of this points to the value of a program like the CWI, which the French Maison Cartier has been running since 2006. T he annual program aims to drive change by empowering female-led social impact businesses, and the founders it selects as fellows gain not just global visibility and grant funding, but also access to a network consisting of everyone from academics to industry experts, all of whom are there to support and equip these women as they go along their entrepreneurial journeys. →The awardees of the 2024 Cartier Women's Initiative were revealed on Wednesday, May 22, during the annual awards ceremony, which took place this year in Shenzhen, China. IMAGES COURTESYCARTIER WOMEN'S INITIATIVE CHANGEHAPPEN MAKING The winners of the 2024 Cartier Women’s Initiative are using business as a force for good
45 July 2024 / ENTREPRENEUR.COM / ↑ Cartier President and CEO Cyrille Vigneron (left) speaking with host Sandi Toksvig at the 2024 Cartier Women's Initiative awards ceremony. T his year’s edition of the CWI saw 33 female impact entrepreneurs from around the world being declared as winners of the program and thereby gaining entry into this fellowship. They were announced at an awards ceremony held in May in Shenzhen, China, with winners being announced in 11 categories, which included nine regional awards, and two thematic awards, i.e. the Science and Technology Pioneer Award and the Diversity, Equity, and Inclusion Award. The first, second, and third place winners in each category receive US$100,000, $60,000, and $30,000 in grant funding, respectively. Being part of the CWI Fellows community also grants them access to tailored mentoring and coaching, media visibility, networking opportunities, as well as educational courses from INSEAD, “the business school for the world.” H osted by writer and gender equality champion Sandi Toksvig, this year’s awards ceremony for the CWI also saw the appearance of Cartier President and CEO Cyrille Vigneron, supermodel, entrepreneur, and philanthropist, Karlie Kloss, and Olympic diving champion }}
46 / ENTREPRENEUR.COM / July 2024 and advocate for public welfare and environmental protection, Guo Jingjing. It also featured a performance by the dance department of the Zhejiang Conservatory of Music, which echoed this year's theme of the Cartier Women's Initiative, “Forces for Good.” The celebration also offered glimpses into the entrepreneurial journeys of the 2024 fellows, who are addressing some of the world’s most pressing social and environmental challenges. I n the MENA category, the first place winner was announced to be Salma Bougarrani, the co-founder of Morocco-based Green Watech, a platform that provides a soil-based filter system that treats domestic wastewater in rural communities so that it can be reused for agricultural irrigation. As it so happens, Bougarrani is the first Moroccan entrepreneur to be selected to be a part of the CWI, but she is hopeful that other founders from her nation will now feel inspired to follow in her footsteps. “I like to believe that I am a role model for women in Morocco,” she said. “And this win actually reinforces this, because a lot of women would like to be in my position today, and it all feels just really reward- ing.” T he MENA region’s winners also included Rania Gaafar, founder and CEO of Adva, who came in second place- her company helps self-employed and unbanked people in Egypt get quick financing by connecting them with financing institutions offering low-interest rate loans. In third place was the aforemen- tioned Yahia, whose company, Chitosan, is an Egypt- based firm that empowers smallholder farmers to participate in the organic market, while also achieving higher income through new agricultural practices. C ommenting on the winners from the MENA region for this year, Sophie Doireau, CEO of Cartier Middle East, India, Africa, and Türkiye, said, in a statement, "Our region is home to an incredible wealth of diverse entrepreneurial talent, and the applications we receive from dynamic women-founded small businesses are always impressive. I am delighted to welcome this new cohort of regional fellows to the close-knit Cartier Women's Initiative community. Each of the fellows selected is unique in her own way, and all are passionate about leveraging businesses as a force for good. They are collectively transforming the sectors they operate in and creating lasting impact in their communi- ties; I can't wait to see what they will achieve as part of the Initiative." I n the South Asia and Central Asia category, the winners included Ira Guha, founder of Asan, which aims to address "period poverty" with a reusable menstrual cup, Mansi Jain, founder of DigitalPaani, which aims to build digital management tools that protect natural water resources from contamination, and Marina Tran-Vu, founder of Vietnam-based EQUO, that offers sustainable and plastic-free dishware, cups, and crockery, among other things. In addition, the Diversity, Equity, and Inclusion award was given to Akshita Sachdeva, co-founder of Trestle Labs, an enterprise that provides visually impaired people with access to educa- tion and employment through its Kibo device and app. ↑ Guo Jingjing, Sandi Toksvig, and Karlie Kloss at the 2024 Cartier Women's Initiative awards ceremony. ↑ The 2024 Cartier Women's Initiative awards ceremony offered glimpses into the entrepreneurial journeys of this year’s fellows, who are addressing some of the world’s most pressing social and environmental challenges.
47 July 2024 / ENTREPRENEUR.COM / "OUR REGION IS HOME TO AN INCREDIBLE WEALTH OF DIVERSE ENTREPRENEURIAL TALENT, AND THE APPLICATIONS WE RECEIVE FROM DYNAMIC WOMEN-FOUNDED SMALL BUSINESSES ARE ALWAYS IMPRESSIVE. T he winners in the Francophone Sub-Saharan Africa category included Victoria Munguti, co-founder and CEO of Heptapay, a Rwanda-based app that facilitates low-cost international remittances into mobile money wallets in East Africa in under one minute, Jessica Long, co-founder of MAAD, a Senegal-based venture that connects brands with small retailers through an e-commerce platform, and Isabelle Kamariza, founder of Solid'Africa, a Rwanda-based initiative that provides nutritious meals to patients in the country's public hospitals through a farm-to-fork approach. I n the Anglophone and Lusophone Africa category, the winners were Tutilope Adewusi, co-founder of 9ijakids, a Nigeria-based platform that offers affordable online educational games to supplement primary education, Claire van Enk, founder of Farm to Feed, which tackles food insecurity in Kenya by buying surplus produce to support smallholder farmers and providing affordable food to vulnerable communities, and Jane Muchuku, co-founder of Plumbee, a food processing company that partners with rural female farmers and low-income women in Kenya to provide underserved children with nutritious food. M ore impact tales of this nature can be expected at next year’s edition of the CWI, which shall be a special installment of the program that takes place at the World Expo in Osaka, Kansai, Japan on May 22, 2025. In this iteration, CWI shall honor former fellows whose ventures have successfully developed since they were announced to be a part of the program, and will now be able to showcase significant, measurable impacts within their fields. Nine impact awardees will thus be recognized by the CWI in categories that are based on the United Nations' Sustainable Development Goals- watch this space to know who they will be. cartierwomensinitiative.com C ommenting on this year’s fellows, Wingee Sin, Global Program Director at CWI, noted that the female entrepreneurs selected to be a part of this edition can claim to be at the helm of some pretty strong businesses. “Many of them also started their business because they saw some form of injustice that they wanted to solve for,” Sin added. “They really took action, even if that wasn’t on their original path. I think this is something that is reoccurring year on year, but this year especially, there was a lot of very touching stories around that.” " Scenes from the 2024 Cartier Women's Initiative awards ceremony.
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49 July 2024 / ENTREPRENEUR.COM / On the go → /Acer TravelMate P14 B/Gear #TamTalksTech Gadgets and doodads that you might’ve missed out on, sourced by a tech aficionado.by TAMARA CLARKE ← Watch out /Sony Bravia 9 The Sony Bravia 9 delivers outstanding picture quality thanks to its XR Backlight Master Drive algorithm, which precisely controls thousands of LEDs to preserve shadow detail in the most demanding scenes. Immerse yourself in the excitement of whatever you’re watching with Sony's revolutionary BRAVIA Theatre Quad. Utilizing innovative 360 Spatial Sound Mapping technology, these speakers create a captivating soundscape that surrounds you, transporting you right into the heart of the action. If you’re looking for a unified audio experience, you can seamlessly integrate the soundbar with any of the Bravia 9. Plus, with Voice Zoom 3, you’ll never miss a moment thanks to its crystal- clear dialogue enhancement. Additionally, innovative features like Acoustic Center Sync work seamlessly to create a unified and crystal-clear audio experience that delivers the feeling of sitting in a stadium packed with thousands of fans. TAMARA CLARKE, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the region. Clarke’s goal is to inform about technology and how it supports our lifestyles. Talk to her on Twitter @TAMARACLARKE. theglobalgazette.com IMAGES COURTESY ACER | LOGITECH |SONY The new Acer TravelMate P4 Series of thin-and light business laptops include new performance, security, and device management features to support professionals and IT technicians. The 2-in-1 Acer TravelMate P4 Spin 14 allows you to effortlessly switch between various tasks and modes, while also being able to take advantage of its portability weighing just 1.49kg and 21.9mm thin. Plus, it gets a performance boost with up to an Intel Core Ultra 7 processor 165U with built-in Intel Graphics and Intel vPro Enterprise eligibility, and long battery life for efficient work sessions- fast charging capability is available when needed too. The device comes with a 14-inch WUXGA (1920 x 1200) display with a touch option as well as a 16:10 narrow bezel for an enhanced Let it flow ↑ /Logitech Signature Slim K950 Designed to seamlessly flow between work and personal tasks, the new Logitech Signature Slim K950 wireless keyboard is perfect for individuals balancing professional and personal activities in a single workspace. The Signature Slim K950 brings familiar responsive laptop-like typing to the desk in a slim design. Optimize your desk time and daily tasks with Logi Options+ App, the software that enhances your experience with the Signature Slim Keyboard. Transition easily between work and leisure with shortcuts such a volume control, play/pause, and mute/unmute, or use Smart Actions, which gives you the power to skip repetitive actions by automating multiple tasks with a single keystroke, to start or end your day in one touch. The Signature Slim K950 keyboard is also certified carbon neutral, just like the rest of Logitech products, and the paper packaging comes from Forest Stewardship Council-certified forests and other controlled sources. The plastic parts in the keyboard include certified post-consumer recycled plastic to give a second life to end-of-use plastic from old consumer electronics. visual and audio experience with DTS immersive audio. Helping highly mobile professionals stay connected, the TravelMate P4 Spin 14 comes with Wi-FE 6E and optional 4G LTE connectivity.
50 / ENTREPRENEUR.COM / July 2024 B/Gear A VISION OF FREEDOM → Emporio Armani Men’s Spring/Summer 2025 Collection The limiting horizons of metropolitan habitats are being eschewed for the independence inherent in the natural world in Emporio Armani Men’s Spring/Summer 2025 collection. The feeling is unmistakable as you see the organic and mellow colors of the garments, which comes in symphonies of wheat, sand, hay and chalk, while also being ignited by notes of lavender and bougainvillea. The materials also sing the same song- think the lightest of wools mixed with silk, intensely finished linen and hemp, suede, net, artfully perforated bull denim, and flowing cady. All of this results in a wardrobe of impalpable, airy garments, which include jackets featuring dropped shoulders and low buttoning, blousons with elasticated waists as light as shirts, as well as malfilè linen tunics that caress the chest like a breeze. armani.com 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 include Emporio Armani, Jean Paul Gaultier, and more. The Executive Selection IMAGES COURTESY EMPORIO ARMANI |
51 July 2024 / ENTREPRENEUR.COM / OFF TO THE RACES ↑ Roger Dubuis Excalibur Spider Flyback Chronograph Leading the charge in sports car-inspired watchmaking, Roger Dubuis has returned to the grid with the third dynamic edition of the Excalibur Spider Flyback Chronograph. It sees Roger Dubuis pay tribute to its long-standing partnership with Lamborghini Squadra Corse, with the expressive craftsmanship injected with the latter’s iconic Verde Mantis color. Certified by the Poinçon de Geneve, the horological engine features a column wheel and an innovative minute counter, while the lightweight carbon case and scratch-resistant ceramic bezel protect the mechanics inside. Limited to 88 pieces only, the Verde Mantis model now joins two other choices in the Flyback Chronograph series, including a version in red and black, and another in khaki green and orange. rogerdubuis.com SIMIHAZE BEAUTY SUN FLUSH ↓ It was in 2021 that Los Angeles-based Palestinian duo Simi and Haze Khadra launched SIMIHAZE Beauty, a forward-thinking beauty brand that celebrates individuality, creativity, and self-expression. It has now come out with SUN FLUSH - All Over Face Tint Liquid Blush, which is a multi-use product designed to give you an instant, effortlessly fresh look, perfect for both cheeks and eyes. But SUN FLUSH is more than just a beauty product- it has also been formulated to soothe and hydrate, ensuring your skin feels as good as it looks. Plus, SUN FLUSH is crafted from 70% renewable materials, which reinforces the brand’s dedication to eco-friendly beauty solutions. simihazebeauty.com EDITOR’S PICK Rich and intoxicating notes imagined by perfumers Daphné Buggy, Fabrice Pellegrin, and Ane Ayo make up the new Scandal Absolu fragrance from the French house of Jean Paul Gaultier. With “a striking aroma that leaves one feverish,” the Scandal Absolu is for those unforgettable nights that leave behind an intoxicating scent. An incredibly gourmand chestnut first sparks the senses to venture into the woody scents of sumptuous sandalwood. And deep in the heart is the golden flesh of an irresistible mirabelle plum. We want more! jeanpaulgaultier.com LIGHTS OUT ↓ / Jean Paul Gaultier Scandal Absolu IMAGES COURTESY SIMIHAZE | JEAN PAUL GAULTIER | ROGER DUBUIS
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53 July 2024 / ENTREPRENEUR.COM / Leading Large How to manage a growing team by ILIANA ORIETTA Managing a constantly growing team effectively involves a combination of skills and strategies that can help you lead your team towards success. In my role as the Senior Marketing Director of the DayLife Division and the Head of Corporate Marcom at Sunset Hospitality Group (SHG), my goal as a team leader is, of course, to help the members of my team to align with the department’s targets and overarching strategic goals. But, ultimately, it is to mentor and inspire. Here are my five tips on how to manage a growing team:
54 / ENTREPRENEUR.COM / July 2024 ‘T/Skillset 1/FIND THE RIGHT TALENT Identify your needs. At SHG, it’s a must to identify your hiring needs, and map out a clear scope. Plus, hire for the future- not just for what you need right now. When deciding on the person, ask yourself, as my department grows and changes, does this person have transversal skills to align with the growth? Where would this person fit in, and do they have potential to grow themselves? Check all the boxes. Even though each post and each brand is different, there is a certain type of “Sunset personality” that we search for. We hire for diversity, open-mindedness, industry expertise, and knowledge, and I personally look for results-driven people with a good work ethic as well as the capabilities for that specific role. I love that all of my team members are very different, but they fit together, and it works. Follow your intuition. If there is one piece of advice to hold on to, I’d say it’s to remember that your instincts don’t lie- sometimes, you just have a feeling. It’s hard to combine characters and talents, but after years in the industry managing teams, you learn how to read and trust people. What I’ve found is that it doesn’t always go as planned, as, sometimes, people over-promise during interviews, and then they don’t deliver. Regardless of how good you “sell” yourself at an interview, you need to really perform if you want to be part of the level of performance we strive for at SHG. 2/ EMPOWER YOUR TEAM Avoid micromanaging. From my past experience, I have learnt what not to do, and one of them is micromanaging. Be clear about the final expectation, rather than the means of achieving it, and if you’ve selected the right person to begin with, they should already be mature and proactive enough to get things done. In the past, I used to have control over everything; so, delegating to a team was challenging at the beginning. With time, I learned how to give power to my team, and trust their skills. This way I helped myself to become a better leader, and I also helped my team by empowering them, and showing them how to become confident, stronger, and accountable. Promote autonomy- delegate. You need to be able to empty your plate to focus on your own mission. So, give your people the tools they need, as well as the authority to implement procedures, and let them fly. When it comes to my team, I guide and collaborate (rather than dictate), and I believe you get the best out of your people by working with them (not against them). One of the most satisfactory aspects of my job is to pass to my team my knowledge after so many years in the industry. Discussing the basic marketing pillars, sharing examples, and brainstorming with them will be always my favorite thing. And seeing them become stronger, more knowl- edgeable, and independent is my pride. Challenge and grow. Even if it is uncomfortable, don’t be afraid to challenge your team– they will not grow if they stay in their comfort zones. I’d also recommend installing key values within your team. For example, you can enforce autonomy, empathy, adaptability, and intellectual growth. As a leader, you will use these values as foundational building blocks on which your team can grow. 3/ CLEAR COMMUNICATION Lay down the foundation. You’d be surprised at how many “communications” companies aren’t very good communica- tors! Start by communicating your team’s purpose and each member’s role. It's also important to communicate the company’s vision.Once you’ve outlined the big picture along with your expectations, then the smaller operations will flow. Encourage 360 feedback. At SHG, we have an open-door policy- the lines are open, and we strive to ensure clear communication, and to listen to all ideas. Listening is very important. Give your team the space to speak up, share ideas, and talk their minds. The minute you give space to their imagination and creativity, magic can happen. Show them daily that you are teachable, and that you can learn from them. A good leader shows by his team. Be transparent. Essential for the open dialogue that’s needed for group
55 empowerment, transparency on your part will also encourage open communication on theirs. Keeping the team informed is not only effective operationally, but it also indicates that they are recognized as an integral part of the company’s workforce, and included in the decision-making process. 4/ BE A MASTER MULTI-TASKER Managing the juggle. You really have to be on it. It can be chaotic inside your head, and the frenetic pace of mak- ing sure all of those projects progress can feel like you’re spinning plates; so, strong organization is key. My secret weapon is having multiple to-do lists; one per brand. It’s like juggling many oranges at the same time up in the air. And without valuable support from my team, I could not do it. Keep learning, keep evolving. Don’t be too proud to ask for advice from your manager or your peers, and encourage the same ethos to your team members. Your colleagues may have hacks and shortcuts to ensure a smoother workflow, or offer ideas on how to overcome any hurdles. Be kind to yourself. Forgive yourself if you make a mistake. You are not superhuman; so, it is likely that you’ll make a mistake. It’s normal in environments so fluid and busy. Own your mistake, learn from it, and don’t repeat it. For example, during a photoshoot, we didn’t plan the shots sequence properly, which resulted in delays and frustrations. The next shoot was carefully planned in order to avoid the same issues, and we were much more efficient and productive, allowing all teams to deliver their best results. 5/DO NOT DISCOUNT TRUST Build relationships. Trust is the foundation of leadership and in any working relationship. Senior management appointed you to lead because they trust in you as the best person for the job, and you employed your team because you trust in their capabilities. Your team should also trust and respect you in return. Trust is earned, and the minute you have a team that supports and encourages each other, you are set for success. Building the team I have at the moment is one of my favorite achievements as each one of them is trustworthy, hardworking, visionary, and funny, which is important for the spirit of the team! Show emotional intelligence. Let your team know that you care about each of them, and value their feelings. Demonstrate emotional intelligence in the workplace by watching for changes in behavior, and responding thoughtfully. Also, getting to know your people will help you to identify their skills as well as their ways of working. Lead with influence. This is a great opportunity to lead by example, inspire, and educate. As a leader, it’s important to understand the difference between power versus influence. When you use influence to lead, you’ll build deeper trust and loyalty with your team. At SHG, we treat our culture as a business priority- after all, the people are the backbone of our success. I really hope I lead by example. It’s important to me to show my team they can make mistakes, recover, aim high, and speak openly. Creating a fun environment where everyone feels welcomed, valued, and heard is important to me. Iliana Orietta is the Senior Marketing Director of the DayLife Division and the Head of Corporate Marcom, Sunset Hospitality Group (SHG). Iliana leads the marketing for numerous lifestyle brands of SHG, and is responsible for heading the group’s Corporate Marketing. Originally from Greece, Iliana brings over 20 years of experience of marketing, sales, event management, and hospitality to her role. Iliana has worked in a variety of fields and capacities throughout her career, all notable experiences honing her skills in developing and executing strategic marketing. Throughout her hospitality journey, Iliana made the shift from events and sales to marketing, and found her hunger in conceptualizing, developing, and launching hospitality concepts. sunsethospitality.com FORGIVE YOURSELF IF YOU MAKE A MISTAKE. YOU ARE NOT SUPERHUMAN; SO, IT IS LIKELY THAT YOU’LL MAKE A MISTAKE. IT’S NORMAL IN ENVIRONMENTS SO FLUID AND BUSY. OWN YOUR MISTAKE, LEARN FROM IT, AND DON’T REPEAT IT. July 2024 / ENTREPRENEUR.COM /
56 / ENTREPRENEUR.COM / July 2024 where the sixth generation has begun their foray into the business. Here’s what I’ve learnt from being part of this enduring legacy: 1/ INNOVATION AND DIVERSIFICATION ARE NON-NEGOTIABLE Family businesses often have deeply rooted traditions and values, but younger generations must trust their expertise, and make their cases where required. At Khimji Ramdas, our ancestors traded goods using wind-powered ships; today, we navigate global markets with digital strategies and innovative product lines. In a world where tech moves quickly, the newer generations are duty-bound to scale processes and business lines by bringing new tech into the fold. Technology changes quickly, but market trends change even quicker. Your total addressable market (TAM), no matter the industry, is not something to take for granted any longer. Over the years, our business diversified from commodities to logistics, distribution, and manufacturing, and now into more digital-oriented businesses like online travel. Business growth doesn’t happen linearly. 2/ PRIORITIZE CUSTOMERS AND PARTNERS ALIKE Our long-standing relationships with many global brands have allowed us to expand regionally alongside them. This has been possible through prioritizing synergistic relationships based on trust. Traditions and values forge trustworthy relationships that can last generations. These relationships are also gateways into new markets, technologies, and resources along the way. It is also generally a good business practice to avoid any avenues that appear like quick wins- something that is doubly true in the world of family businesses. Relationships are the key to long-term success, and this also applies to all your customers. Treating success like a two-way street that involves all your customers and partners is a good way to frame your thinking. ‘T/Pro Four lessons worth learning from a 154-year-old legacy business by NAILESH KHIMJI Standing the Test of Time B usiness lessons can come from many sources: formal education, deep dives into case studies, analyzing historical trends in an industry, or just simply starting up and learning along the way. But there is a business type whose origins and development are often shrouded in mystery: family-owned businesses. How do you build a successful business where boardroom discussions can just as well be dinner-table conversations? I can tell you that, like Rome, such businesses weren’t built in a day. As recently as nine years ago, research suggested that only 30% of family businesses made it into the second generation, and only 3% lasted four generations and beyond. I’m part of the fifth generation of a family business -Khimji Ramdas- whose legacy spans more than 150 years. Through years of careful knowledge transfer, protecting our core values, and constantly evolving alongside technology, we are now at a stage
57 July 2024 / ENTREPRENEUR.COM / UNLOCKING POTENTIAL 3/ THE INTERNAL STRUCTURE IS THE GAME Establishing clear family governance structures is essential for maintaining harmony and continuity within the business. Family businesses don’t have to broach this subject as often as non-family ones, but it is important to keep sight of roles, processes, and communication guidelines. Succession planning is also critical. Start grooming successors early, providing them with mentorship, exposure, and opportunities for both growth and to lead new endeavors beyond your generation’s expertise. With that being said, while family involvement is integral, also recognize the importance of professional management. Around the turn of this century, our family transitioned from thinking of ourselves as a family-run to a family-owned company. We brought in non-family professionals to manage our operations to enhance efficiency, and laid the groundwork for sustainable growth. 4/ TRADITIONS STILL MATTER It is easy to write off tradition and culture as limitations when it comes to innovating. But all generational success is built on some pillars that carry relevance regardless of the times. For instance, ambitious innovation should not come at the cost of the communities that your business influences. Long-standing family businesses are usually reflective of the lives that they have touched over multiple generations, and it is important to understand the values that enable such relationships. Demonstrate your commitment to society beyond profits. Engage in meaningful corporate social responsibility (CSR) initiatives that positively impact your community. Whether it’s supporting education, healthcare, or environmental conservation, giving back fosters goodwill and strengthens your brand’s reputation. Nailesh Khimji is a Director at Khimji Ramdas. For over 150 years, Khimji Ramdas (KR) has been a beacon of excellence in the business world, encompassing diverse sectors such as lifestyle, consumer products, projects and logistics, and infrastructure. With a presence in the UAE, Oman, and Saudi Arabia, and strategic partnerships in India with industry giants like Procter & Gamble, Rolex, Kellogg’s, and Britannia, Khimji Ramdas is synonymous with trust, quality, and innovation. Nailesh Khimji represents the fifth generation of leadership at Khimji Ramdas. Credited with diversifying the business, Nailesh has established key partnerships with P&G, Rolex, and Kellogg’s in India, and expanded operations in shipping and tourism in the Middle East. Nailesh is not only a renowned business figure, but also the founder of Eshraqa, Khimji Ramdas’ corporate social responsibility (CSR) arm, focusing on education, health, and community welfare, particularly empowering youth and women. Besides his active involvement in the group’s operations and CSR activities, Nailesh is also a board member of the Omani-French Friendship Association. He also serves on the Cultural Council of Fondation de la Haute Horlogerie (FHH), and is involved with the Grand Prix d’Horlogerie de Genève. He has also been an active member of the Young Presidents Organization since 2007, where he has held various roles. khimji.com A brand sprint is a three-hour workshop that comprises six activities, all designed to create a guide that identifies core brand values, personality traits and strategic positioning for an organization. Originally developed by Jake Knapp and Google Ventures, this method has been used by startups and Fortune 500 companies alike to develop a compelling brand strategy. Read on to learn more about the activities, methods, and frameworks used to run a brand sprint workshop. 20-YEAR ROADMAP The first activity is designed to picture the future state of your organization- what will your company be doing five, ten, 15, and 20 years from now? Start by drawing a timeline on a whiteboard or sheet of paper, and brainstorm ideas based on considerations such as new product and service developments, industry changes, and social and technological factors. The purpose of this activity isn’t to develop exact solutions for the future; instead, the goal is to get your team thinking about long-term strategy and business goals. Here’s how you can run a brand sprint for your organization by DIPIKA MALLYA A re you looking to revamp your organization’s brand identity, vision, and positioning? You’re not alone! Research has shown that 68% of organizations attribute revenue growth to having a solid, consistent brand presence.
58 / ENTREPRENEUR.COM / July 2024 WHAT, HOW, WHY The second activity in the brand sprint process aims to define your organization’s “why,” or core purpose. Start by drawing three concentric circles on a whiteboard or sheet of paper, and label them “why,” “how,” and “what,” respectively, starting from the inner-most circle. Next, develop answers for each section by asking the following questions: • WHY Why does your company exist? Is there a larger purpose or mission associated with your organization? • HOW How does your organization achieve its goals? What’s your competitive advantage? • WHAT What products or services does your organization produce? By the end of this exercise, you should have a clearly-defined brand purpose that is linked to business goals and core activities. TOP THREE VALUES + TOP THREE AUDIENCES Based on your brand purpose, first identify three values that best represent your organization; examples include sustainability, luxury, honesty, innovation, simplicity, excitement, and affordability. One this is done, move on to the second activity, which is identifying the top three customer segments that you’re looking to target with existing products and services. PERSONALITY SLIDERS How is your brand perceived relative to other brands in the marketplace? Start this activity by creating a sliding scale with opposing characteristics; for example, elite versus mass appeal, serious versus playful, conventional versus rebel, and friend versus authority. Next, identify brands associated with each trait, such as Chanel for elite and H&M for mass appeal. ‘T/Marketing Finally, place your brand on each spectrum based on your customers’ perceptions and product associations. By the end of this activity, you will have identified your brand’s personality traits and key attributes. COMPETITOR MAPPING The final activity in the brand sprint involves comparing your brand to competitors using specific indicators such as price and quality. Start by creating a 2x2 matrix, with one axis representing price, and the other representing perceived quality. Place competitor brands on the map based on these indicators, and then position your brand on the map. After completing this exercise, you should have a comprehensive overview of the competitive landscape that your organization operates within. Once all six activities are completed, compile the findings to develop your brand guide. This will thus be a foundational document that can help with any branding decision, such as developing a new logo, marketing strategy, or communications plan. Good luck! Dipika Mallya is the founder of Ideation Labs, a training consultancy focused on developing entrepreneurship and innovation programs for educational institutions, corporations, and business incubators. She has worked for leading entities in the region, including the UAE Ministry of Education, The Al-Futtaim Group, and Cleartrip Middle East. She holds a master’s degree in advertising from The University of Texas at Austin, and a bachelor’s degree in psychology from the University of Illinois at Urbana-Champaign. Her areas of interest include educational design, innovation policy, and social entrepreneurship. ideationlabs.io A BRAND SPRINT IS A THREE-HOUR WORKSHOP THAT COMPRISES SIX ACTIVITIES, ALL DESIGNED TO CREATE A GUIDE THAT IDENTIFIES CORE BRAND VALUES, PERSONALITY TRAITS AND STRATEGIC POSITIONING FOR AN ORGANIZATION.
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60 / ENTREPRENEUR.COM / July 2024 However, over the years, the idea of what constitutes a business plan has gone through quite a bit of a revamp, notes Jane Khedair, Executive Director of London Business School’s Institute of Entrepreneur- ship and Private Capital. “Business planning -or at least preparing a business plan as a fundraising document- has changed considerably over the last 10 years,” Khedair explains. “What used to be a 30-page detailed document is now more commonly distilled into a more headline pitch deck that serves as a door-opener to potential investors. Of course, the need for a more in-depth document for internal purposes still prevails, as that’s where the information for the pitch deck is pulled from, albeit having a different audience in mind.” So, what does an ideal business plan look like? According to Khedair, entrepreneurs should start working on it by having it focus on the key benefits of their value proposition, rather than the features of their products or services. “Highlight how your target market would value what you are doing, instead of the audience having to draw that conclusion themselves,” she says. “I call this the ‘so what?’ test– don’t leave this question unanswered when explaining what your service/product does. The benefits will underpin your differentiation, which, in a crowded market with upcoming competitors due to rapid technological advancements, will be integral to you building a Jane Khedair, Executive Director of London Business School’s Institute of Entrepreneurship and Private Capital, explains what goes into making the ideal business plan by AALIA MEHREEN AHMED Map It Out A 2024 article on the global financial media platform Investopedia reveals that not preparing a business plan is among the most common reasons for business failure in today’s ecosystem. This, of course, isn’t new information- indeed, a study by Harvard Business Review in 2017 had highlighted that, "entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical non-planning entrepreneurs." ‘T/Pro
61 July 2024 / ENTREPRENEUR.COM / moat around your business as a barrier to others in that same space. Addition- ally, make sure you can clearly identify your target and addressable market, and how you are going to reach it. It’s not as easy to secure even 1% of your market as most people think, and it’s an overused assumption that displays naivety. A large market doesn’t necessarily equate to ease of market penetration.” Khedair also points out that businesses can have many operational roles, and mapping them clearly is essential to formulating an effective business plan. “Aside from identifying who is involved in your business -their background and its relevance to their role- you should also be open to recognizing gaps in the team and how these will be plugged,” she explains. “Operational expertise is easier to source rather than sector knowledge, which should be clearly available within the founding team.” As for financial projections, Khedair suggests handling them as conserva- tively as possible. “All too many financial projections are often depicted with an overzealous and incredulous hockey- stick curve,” she declares. “Whereas they are key to demonstrating your business’ growth potential, they are meaningless without detailed financial assumptions that sit behind the numbers. This is especially pertinent to your projected turnover, behind which your accruing customer numbers, churn rate, average sale/contract value, and customer acqui- sition costs will be integral to underpin- ning the growth rate of the venture. Even with a breakdown of the numbers, it will usually take twice as long, and require twice as much money to achieve what you initially forecast.” Entrepreneurs would do well to heed these notes from Khedair, since her insights also incorporate the point of view of an investor, given her role as the founder and Director of Enterprise 100, a private angel investment club that she set up in 1999, which today operates out of the London Business School. “The best business angels are typically those who are able to provide a business with something over and above the cash they are investing,” Khedair says. “This is known as ‘smart money,’ and it usually suggests that the angel has a back- ground that affords a relevant network or expertise that will be instrumental to helping the venture grow. Angels can serve as informal mentors, providing support and advice for these fledgling businesses– a role which we know is an invaluable component of our MENA Start Up Competition, which we host in Dubai every October, which has been behind the growth of so many early- stage ventures since it was launched a couple of years ago.” Now, for all of you founders out there hoping to get angels onboard your businesses, here’s what Khedair believes you need to be showcasing in your business plans and pitches. “Most experienced angels will first and foremost look at the strength of the team, and their belief in their ability to execute on their strategy,” she points out. “Once they have satisfied them- selves on that, the value proposition of the venture, and its route to a sizable market, will be integral to driving the scalability of the business, which will hopefully provide the potential for an exit within three to seven years.” According to Khedair, the importance of the profiles that make up the founding team -especially in a startup’s early stages- cannot be understated. “On a personal front, the resilience, drive, and passion of the founders are fundamental characteristics as the backbone of the business,” she says. “Any weak links in the team will quickly become apparent, and they are all too often the cause for a startup failing in the early months. The cracks will show much quicker in a saturated market, where growth will be stunted, without the business having a clear unique selling proposition. The team should thus work collectively to satisfy themselves that there is a genuine need for what their business is planning to bring to market, without which the founders’ efforts will quickly be frustrated.” IT’S NOT AS EASY TO SECURE EVEN 1% OF YOUR MARKET AS MOST PEOPLE THINK, AND IT’S AN OVERUSED ASSUMPTION THAT DISPLAYS NAIVETY. A LARGE MARKET DOESN’T NECESSARILY EQUATE TO EASE OF MARKET PENETRATION.” → Jane Khedair is the Executive Director of London Business School’s Institute of Entrepreneurship and Private Capital.
65 July 2024 / ENTREPRENEUR.COM / Navigating Necessity In the midst of Lebanon’s 2019 economic collapse, Rudy Younes decided to take a chance with entrepreneurship- today, he owns two startups hitting six-figure-revenues by AALIA MEHREEN AHMED ← Rudy Younes is the founder of two UAE-based startups: Nasmati Care, a platform that offers wireless and innovative hairstyling tools, and Trop Cosmetics, a professional makeup brand that offers magnetic lashes and lip kits.
66 / ENTREPRENEUR.COM / July 2024 S/Q&A T he vast canvas of entrepreneurship is often painted with either individuals who become “accidental” founders, or those who have always been drawn to the world of startups. Now, while it isn’t uncommon to find entrepreneurs that fit into both of the aforementioned categories, there is also another type: those who are practically forced into this realm. And that’s the story of Rudy Younes, the Lebanese entrepreneur behind two UAE-based e-commerce startups, Nasmati Care and Trop Cosmetics. “My entrepreneurial journey began under challenging circumstances back in late 2019,” Younes shares. “At that time, I was residing in Lebanon when the economy collapsed, severely affecting the financial stability of many, including my family. We lost a significant amount of our savings, with nearly a million dollars in the bank devalued to about US$10,000, as all our money was deposited in the Lebanese currency. This financial crisis served as a wake-up call for me. I realized I wanted to be an entrepreneur when I was forced into it by my circumstances. I had a choice: either work a regular job and maybe change my life and the lives of those around me after 10-20 years, or take the risk and hopefully change it within a few years. The biggest risk is not taking any risk at all.” }Following the steep decline in the family’s savings, Younes (who was still a university student studying software engineer- ing at the time) found himself having to deal with the potential halt in the education of both his brothers- the elder was in medical school then, while the younger was in grade school. “Our family faced immense financial strain, which prompted me to take responsibility and act,” Younes says. “That was when I started managing social media accounts for various clients, by reaching out to potential customers with the simple message, ‘Hey, do you need help growing your account?’ From sending hundreds of direct messages daily, I managed to secure a few deals, initially earning around $500 per month, which gradually increased to between $1,500 and $2,000. After saving enough around $1,500, I aimed to establish my first venture- a company that specializes in creating, managing, and scaling e-commerce brands within the health and beauty niche.” }But as is the case with a lot of first attempts in entrepreneurship, Younes’ debut venture was met with plenty of roadblocks. “At the time, I chose [to register the enterprise in the US city of] Delaware for its tax benefits and the ability to open a business bank account that could accept international payments, a necessity given the restrictions in Lebanon for payments processors,” Younes elaborates. “However, this venture faced significant hurdles, including an unexpected $25,000 penalty from the US Internal Revenue IMAGES COURTESY TROP → TROP Cosmetics is an innovative beauty brand whose products are designed in Germany.
67 July 2024 / ENTREPRENEUR.COM / Service (IRS), due to a misunderstanding with the law firm that set up my company. I had barely saved $500 back then. This setback hit me hard, but it didn’t deter me. Instead, it motivated me to work even harder. Through perseverance and taking on multiple projects, I managed to generate $18,000 in three months, which helped me resolve my tax issues, partially thanks to a waiver granted by the IRS during the COVID-19 pandemic. I ended up paying around $9000 for accountants, legal papers, and for dissolving the company. This was one of the most challenging and stressful moments ever, but made me a way stronger person than before. And I didn’t mention it to my family until it got solved, as I didn’t want to add more stress to my parents.” }Having successfully overcome this trying phase, Younes shifted his focus towards saving up to 70% of his company earnings, all for a singular purpose: to accumulate $10,000 to start a new venture called Nasmati Care, a platform that offers innovative hairstyling tools.“I used to just pay the monthly expenses without going out, and I stayed at home for two years,” Younes recalls. “This led to the launch of Nasmati Care in June 2022 in Lebanon. Within the first year, Nasmati Care achieved $137,000 in revenue, completely self-funded. Buoyed by this success, I expanded into the UAE market in June 2023, and then launched another brand, Trop Cosmet- ics, a makeup brand that offers magnetic lashes and lip kits. Both brands have flourished, achieving six-figure revenues, and they are now poised for global expansion. Currently, we are generating $240,000 in 2024, and we’re aiming to double it by 2025. All of this has been achieved through self-funding and rigorous financial discipline.” }While his entrepreneurial instincts were developed in the midst of a crisis, Younes made it a point to look up to successful entrepreneurs and industry experts as he went about building his business. “I’ve been inspired by many leading entrepreneurs who faced similar struggles and managed to grow bigger than ever,” he says. “Coming from a non-business background, I invested in mentors, paying around $500 per month, to learn how to think, make decisions, develop a great mindset, and execute strategies to differentiate myself from others. I am very grateful for their teachings, and I hope to pass on the same values to the younger generation. There is nothing impossible if you put your mind to it; the sky’s the limit. This is why I now aim to be a trustworthy source for others, enabling them to benefit from and learn from my experiences, as I once struggled to learn from the right people. And so, to anyone reading this, if you have zero dollars in your bank account but you are eager to change, trust me as I am doing it, it is possible to get to the top!” }And in case you’re wondering what all of this has meant for Younes’ family, well, there’s good news on that end too. “This journey has not only transformed my life, but also enabled me to support my family significantly, including funding my brother’s medical studies in the USA, where he now specializes in cardiology,” Younes says. “So, yes, it has been an insane journey with a lot of challenges, but with great rewards.” But despite the success Younes has achieved in his entrepreneurial journey today, it is interesting to note that THERE IS NOTHING IMPOSSIBLE IF YOU PUT YOUR MIND TO IT; THE SKY’S THE LIMIT.” → Rudy Younes says that both of his brands -Nasmati Care and Trop Cosmetics- have flourished, achieving six-figure revenues.
68 / ENTREPRENEUR.COM / July 2024 S/Q&A the founder’s endeavors started out -quite understandably- with no real business goals in place. “To be honest, when I started, I didn’t have a clear vision; I just wanted to make money, get out of my bad situation, and take care of my parents,” he says. “Over time, the vision started to become clearer on its own. Now, my goal is to make my two brands, Nasmati Care and Trop Cosmetics, the best in innovative hairstyling tools and makeup cosmetics. Since money is no longer a problem and I am already a six-figure-entrepreneur, my motivation has shifted. I am no longer driven by money, but by the desire to change the world and add value to it. At this point, money is just a tool to keep executing my vision. Starting from literally zero and being self-funded, I have achieved a lot, but personally, I am not satisfied. I am aiming for even bigger achievements. I used to dream of reaching six figures, and now that I have, my dreams have grown much bigger. I am on my way to achieving these larger goals in the next 1-2 years.” }In achieving this new set of goals, however, Younes says he is determined to avoid external investments for the foreseeable future. “I am actually not a fan of outsourcing funds due to multiple reasons,” he says. “First, they will take a stake from your company, and second, they will add more pressure on you, which might affect your business decisions due to the pressure that will come with it. Thus, I am not against it, but for now as long as I can take the full risk myself, and fund everything myself -and I am a very confident person- the same way I went from zero to six figures, I will go from six figures to seven figures, and more, with time, by myself.” Riding high on the milestones achieved by his startups, Younes now hopes to create a compound effect for the success he’s been able to taste so far. “Through my businesses, I aim to create an impact by introducing innovative health and beauty products that enhance people’s lives and foster economic growth in the MENA region,” Younes declares. “By creating jobs and nurturing local talent, we contribute positively to the economies we operate in. The legacy I hope to leave centers around empow- erment and sustainability. I believe in leveraging technology to empower individuals and businesses throughout MENA, helping them achieve more and improve their livelihoods. Additionally, I am committed to sustainable and ethical business practices, aiming to set a new standard for how businesses operate in the region. Ultimately, I want my businesses to be remembered not just for what they achieved, but how they achieved it- by making a positive, lasting difference in the community and the environment.” }Embrace a growth mindset “Embracing healthy competition unlocks your full potential; so, focus on winning, rather than dwelling on losses. Limitless thinking is essential- do not put limitations on your mind, as these are just false barriers. Instead, be eager to grow quickly, execute fast, and take swift actions, as money loves speed and rewards those who act first.” }Keep an open mind “While pursuing your passion is important, mastering something you initially dislike -but have the potential to excel in- can turn into a newfound passion. These traits collectively empower a startup founder to not only survive, but thrive through challenging phases.” }Continuous learning is key “I remember I used to watch and learn from YouTube every single day to learn from better people in my field. At the end of the day, if I was able to do it, and a lot of others are able to do it, then why can’t you? No one is better than anyone except for the hard work they put in.” }Faith and kindness play significant roles “Praying to God for guidance, and being good to others, can bring manifold rewards. Consistency in your efforts is vital, as is maintaining a great reputation. These will help you stay resilient and respected in the long run.” Rudy Younes shares his tips for entrepreneurs TREP TALK I AM NO LONGER DRIVEN BY MONEY, BUT BY THE DESIRE TO CHANGE THE WORLD AND ADD VALUE TO IT. AT THIS POINT, MONEY IS JUST A TOOL TO KEEP EXECUTING MY VISION.” → Expanding NASMATI CARE into the UAE market and then launching Trop Cosmetics in June 2023 marked Younes’ first steps towards international business, broadening his businesses’ reach and influence.
70 / ENTREPRENEUR.COM / July 2024 S/Q&A I n the complex web of business transactions, it’s often the moments of adversity that offer the greatest opportunities for showcasing exceptional customer service. Such was the case for serial entrepreneur Jigar Sagar, who once found himself in a situation where a simple typo on an invoice led to a client overpaying by a significant amount. The Customer Comes First Lessons from Jigar Sagar’s path to entrepreneurial excellence by MINA VUCIC }Upon discovery of the error, frustration understandably ensued from the client’s end. Yet, rather than succumb to the gravity of the mistake, Sagar swiftly sprang into action. An apology was issued promptly, followed by the initiation of a refund process to rectify the overpayment. But Sagar’s commitment to customer satisfaction didn’t end there. He went above and beyond, absorbing any incurred losses, and offering complimentary value-added services as a gesture of goodwill. A week later, a follow-up confirmed the client’s satisfaction. They were not only pleased, but genuinely impressed by Sagar’s transparency and effort in resolving the issue. Their glowing review of Sagar’s efforts stand today as a testament to the transformative power of turning negative situations into positive ones- and the importance of customer satisfaction. }Sagar’s career journey commenced in the bustling corridors of the Sharjah Gold Souq, where at a very young age, he started helping his father’s family business. Decades later, Sagar stands as a titan in the regional entrepreneurial landscape- a seasoned founder, investor, and mentor, boasting a portfolio of over 15 ventures collectively valued at US$350 million. He’s currently running the show at Triliv, an up-and-coming business consultancy, and he was, until recently, the Managing Partner of Creative Zone, the largest business setup advisory firm in Dubai. He’s also the entrepreneur behind EZMS, which currently operates three successful free zones in the UAE. AppiZap, a joint venture between EZMS and DRC Systems, is another tech innovation that Sagar leads, which is said to have a projected valuation exceeding $100 million. Sagar had also founded Set Hub (formerly known as Business Incorporation Zone) in 2015, which went on to successfully bring to life more than 25,000 companies. Other ventures in his portfolio include Al Taasis, Al Taj Medical Center, and O Square Communications. }But it was within those very early days Sagar spent with his father at the Souq that he imbibed a fundamental lesson, one that would resonate across the expanse of his entrepreneurial journey- the paramount importance of customer service. “I learned that trust and rapport with customers is essential,” he recalls. “By prioritizing their needs and providing outstanding service, we cultivated strong relationships that turned one-time buyers into loyal, repeat clients. They knew they could count on us for quality products and a positive experience every time.” → From a young boy helping his father at his retail shop at the tender age of 10, to becoming a cornerstone of the UAE's entrepreneurial ecosystem, Jigar Sagar has carved a unique path in the business world. IMAGES COURTESY JIGAR SAGAR
71 July 2024 / ENTREPRENEUR.COM / }Through the prism of his own ventures, he discovered a common thread: in industries saturated with offerings, differentiation hinges not solely on the product, but on the experience surrounding it. “In my entrepreneurial journey, I often found myself in commoditized industries,” he reflects. “To stand out, I realized I needed to offer something more- exceptional customer service. This opened an honest, direct line of communication with my target market. I was able to get real-time feedback on their needs and preferences, allowing me to constant- ly refine my offerings and tailor my approach to better serve them.” }But how does one stay ahead in a landscape where change is con- stant? For Sagar, the answer lies in perpetual evolution. “The world of customer service is constantly evolving, so complacency isn’t an option,” he says. “I make a conscious effort to stay informed and adapt to the changing landscape through a multi-pronged approach. I’m a voracious consumer of industry knowledge. Whether it’s diving into the latest customer service books, subscribing to relevant blogs and podcasts, or attending industry webinars, I’m always seeking out new insights and perspectives.” Sagar also pays close attention to new tech launches and trends, from chatbots powered by artificial intelligence, to personalized marketing automation tools. Exploring how he can leverage them to enhance the customer experience is integral to his strategy. }Yet amidst the whirlwind of technological innovation, Sagar underscores the timeless importance of direct customer engagement. “There’s no better source of informa- tion than the customers themselves,” he emphasizes. “I prioritize open and consistent communication with my clients, actively seeking their feedback and suggestions. This direct line of communication allows me to stay attuned to their evolving needs and preferences, ensuring I’m always delivering the best possible exper- ence.” For aspiring entrepreneurs just embarking on their journeys, Sagar’s sage advice is thus to always put the customer at the center of their customer service strategy. “It might sound obvious,” he says. “But it’s easy to get caught up in the day-to-day operations, and lose sight of who you’re truly serving. Ask yourself: what do your customers need? How can you make their lives easier? How can you exceed their expectations? By focusing on their needs, you’ll naturally build a strategy that resonates with them.” }Furthermore, Sagar advocates for leveraging technology as a force multiplier in customer service endeavors. “Customer relationship management (CRM) systems can be invaluable,” he says. “They aid in managing customer interactions, tracking preferences, and identifying opportunities for personalized service. Don’t be afraid to explore the many tools available to streamline your processes and enhance the customer experience.” That said, too often, businesses fall into the trap of prioritizing internal efficiency at the expense of the customer journey. “When technology is implemented solely for the benefit of the company, customers are often left navigating obstacles,” Sagar warns. Instead, he encourages entrepreneurs to adopt a customer-centric approach, leverag THE WORLD OF CUSTOMER SERVICE IS CONSTANTLY EVOLVING, SO COMPLACENCY ISN’T AN OPTION.”
72 / ENTREPRENEUR.COM / July 2024 S/Q&A }Serial entrepreneur Jigar Sagar was featured on the pilot episode of Paradigm, a new podcast series by Entrepreneur TV Middle East that delves into the triumphs and challenges on industry pioneers in the dynamic world of business and entrepreneurship. Hosted by Mina Vucic, each episode of Paradigm uncovers unique perspectives, strategies, and philosophies that redefine traditional notions of success. In his interview for Paradigm, Sagar shared invaluable insights on staying abreast of industry trends, motivating teams, and maintaining genuine professional connections. He highlighted the importance of digital innovation while preserving a human touch, and he also discussed corporate ethics in the evolving Gulf business scene. His journey reflects a relentless pursuit of growth, innovation, and dedication to shaping the UAE’s entrepreneurial ecosystem. ing technology to streamline processes, provide self-service options, and offer multiple channels for communication. }Looking ahead, he foresees a significant change: a time where AI and machine learning (ML) will usher in a new era of deeply custom- ized experiences for each individual. “In my opinion, the next big wave in customer service and experience that startups should prepare for is the rise of hyper-personalized experiences powered by AI and ML,” he says. “We’re already seeing glimpses of this with recommendation engines and targeted marketing, but the potential goes far beyond that. Imagine a world where every customer interaction is tailored not just to broad demographics, but to the individu- al’s unique preferences, purchase history, and even their real-time emotional state. It’s not just a trend; it’s the future.” }Sagar also believes that AI will be capable of anticipating customer’s needs before they even articulate them, proactively offering solutions or suggestions that align with their specific tastes. ML will personalize product recommendations, website layouts, or even communication styles to create an experience that feels tailor-made for each individual. “Startups that embrace this trend early on will be well-positioned to gain a competitive advantage in the market,” adds Sagar. Yet amidst the innovation, he cautions against losing sight of the human element. “Never underestimate the power of communica- tion,” he advises. “Regular engagement fosters trust and loyalty, the bedrock of any successful business.” In Sagar’s vision, technology should serve as a bridge, connecting businesses with their customers in meaningful ways. By prioritizing the customer experience above all else, entrepre- neurs can harness the power of technology to foster deeper connections and drive sustainable growth. “Technology should enhance, not detract, from the customer experience,” he concludes. “It’s a delicate balance.” Mina Vucic is the Director of Production and Multimedia at BNC Publishing. She hosts Paradigm, an Entrepreneur TV Middle East podcast series that delves into the triumphs and challenges on industry pioneers in the dynamic world of business and entrepreneurship. instagram.com/entrepreneurtvme P a r a d i g m Scan these QR codes to check out the full Paradigm episode. ↑ Jigar Sagar was featured on the pilot episode of Paradigm, a new podcast series by Entrepreneur TV Middle East that delves into the triumphs and challenges on industry pioneers in the dynamic world of business and entrepreneurship. P a r a d i g m “Every time I face a new challenge, I want to convert that into an opportunity.”
73 July 2024 / ENTREPRENEUR.COM / P a r a d i g m A NEW PODCAST SERIES BY WANT TO BE FEATURED ON PARADIGM? Contact Paradigm host Mina Vucic on mina@bncpublishing.net. Follow us | @entrepreneurtvme
74 / ENTREPRENEUR.COM / July 2024 Rewaa /rewaatech.com / S/Q&A Here’s a selection of the companies enrolled in Saudi Unicorns, a national program in the Kingdom of Saudi Arabia that helps high-growth tech companies reach unicorn status by AALIA MEHREEN AHMED IN FOCUS I t is no secret that one of the greatest advantages of a rapidly digitized business ecosystem has been the automation of otherwise mundane and repetitive tasks. It was in a similar bid to ease the many complexities and inefficiencies that come with managing retail store operations that Rewaa was launched in 2018 by Mohammed Alqasir (CEO) and Abdullah Aljadhai (COO). “The inspiration behind starting this journey was to become the trusted tech partner for retailers, helping them grow and manage their businesses through a unified process, and automating their store operations to reduce human and manual input errors,” says Alqasir. “By providing a unified and automated system for accounting, inventory management, cashier operations, and payments, Rewaa aims to reduce human errors, streamline processes, and enhance operational efficiency for retailers.” IMAGES COURTESY REWAA ↓ Mohammed Alqasir (left) is the co-founder and CEO and Abdullah Aljadhai (right) is the co-founder and COO of Rewaa, a software-as- a-service platform that offers a suite of software solutions designed to streamline retail operations. Saudi Unicorns Program is provided by the Ministry of Communications and Information Technology (MCIT), National Technology Development Program (NTDP), and the Mohammed bin Salman Foundation (Misk), to enable and nurture successful and established tech companies to reach unicorn status. Offering a comprehensive range of services and resources, including skill-building workshops for founders, facilitating connections with investment funds, as well as providing access to a global network of industry experts, Saudi Unicorns has been instrumental in finetuning the business models (and journeys) of a number of scaleup firms in the Kingdom. For more info, visit: saudiunicorns.net WHAT IS SAUDI UNICORNS?
75 July 2024 / ENTREPRENEUR.COM / }Designed as a software- as-a-service (SaaS), the platform offers a suite of software solutions designed to streamline retail opera- tions encompassing inventory management, a point-of-sale system, cloud-based accounting software, e-commerce platforms integrations, as well as an offers and promotions management tool. All of these have thus been integrated into one system that allows retailers to manage their businesses efficiently as well as with a reduced margin of manual errors. “Our mission at Rewaa is to provide innova- tive technical solutions that automate retail operations, enhancing retailers’ efficiency and profitability,” explains Aljadhai. “Our ethos therefore revolves around innovation, custom- er-centricity, and excellence. We are committed to developing cutting-edge technologies, delivering exceptional customer support, and fostering a collaborative and dynamic work environment that empowers our team to drive success for our clients.” }These underlying values have, in fact, been incorpo- rated into the very name chosen for the company. “The meaning of the name ‘Rewaa’ is the rope used to tie baggage onto the back of the camel, which Rewaa resembles in tying the merchant with the tools they need to keep their business management in one place to access wherever, whenever,” Alqasir explains. And it is thanks to all of Rewaa’s various offerings that Aljadhai believes his company is all set to see further growth and develop- ment in the future. “Our unique selling point at Rewaa is our all-in-one retail management platform that integrates accounting, inventory management, cashier operations, and payment processing into a single, easy-to-use system,” he says. “Our exceptional customer support also ensures seamless onboarding and ongoing assistance, setting us apart from the competition. Providing a seamless, all-in-one solution addresses critical pain points for retailers, driving high customer satisfaction and loyalty, which will increase efficiency and profitability, making our platform indispensable. As we continue to innovate and expand our market reach, these strengths will help us attract more clients and investors, paving the way to becoming a unicorn.” Of course, this goal has now found the perfect launchpad in Rewaa’s participation in Saudi Unicorns. “One of the biggest benefits the program offered us is the chance to network with like-minded individuals and entities,” Aljadhai reveals. “It also provided us with the opportunity to learn from the best and biggest players in the field. This helped us tremendously in getting to know the merchant better and catering to their needs in a more comprehensive way. Additionally, some of the many examples of how we improved our business models [at Saudi Unicorns] include learning how to measure the performance of our team, defining attainable objectives and key results, and improving our hiring processes to fit global standards.” }Besides already achieving its target revenue growth, while also successfully raising multiple funding rounds backed by regional venture capital firms, Rewaa currently boasts of a 400-person-strong team in the Kingdom. According to Alqasir, launching the business in the Kingdom six years ago was due to one simple reason: the nation’s THE INSPIRATION BEHIND STARTING THIS JOURNEY WAS TO BECOME THE TRUSTED TECH PARTNER FOR RETAILERS, HELPING THEM GROW AND MANAGE THEIR BUSINESSES THROUGH A UNIFIED PROCESS AND AUTOMATING THEIR STORE OPERATIONS.” ↑ REWAA’S unique platform is designed to meet the specific needs of businesses in all sectors, allowing the easy addition and tracking of simple, variable, and composite products.
76 / ENTREPRENEUR.COM / July 2024 S/Q&A economic potential, as well as the push from its government. “We chose Saudi Arabia as our starting market due to its rapidly growing retail sector, and the govern- ment’s strong support for digital transformation and entrepreneur- ship,” Alqasir adds. “The dynamic business environment and ample opportunities for innovation made it the ideal launchpad for Rewaa. Saudi Arabia’s Vision 2030 also significantly boosted our growth by fostering a business-friendly environment and prioritizing digital transfor- mation. The Vision’s emphasis on economic diversification and technological innovation aligned perfectly with our goals, enabling us to expand rapidly, and serve a growing number of retailers nationwide.” }But Aljadhai and his team’s vision for Rewaa is by no means bound by geography- if anything, the company is already eyeing international scaling. “Our product can serve the global market by offering a scalable, cloud-based platform that supports multiple languages and currencies,” Aljadhai says. “We provide comprehensive retail management solutions, including accounting, inventory manage- ment, and payment processing, tailored to meet the diverse needs of international retailers. With robust customer support and seamless integration capabilities, we ensure a smooth onboarding process and continuous assistance, making our platform adaptable and valuable in any region.” It is thus with this drive that Rewaa hopes to make a lasting impact on the local and global retail sector. “We plan to be the go-to product or solution for our customers no matter where they operate their business!” Aljadhai declares. “And we aim to do this by providing easy access to the tools that help them overcome their management obstacles and challenges.” ” IMAGES COURTESY UNIFONIC T he need to create customer engagement platforms that facilitate conversations across multiple channels was born largely due to the shift from brick-and-mortar retail outlets to online and hybrid options. In fact, multiple reports suggest that the term “omnichannel” was introduced to -and gained momentum in- the marketing world only in 2010. However, four years before that, in 2006, Ahmed Hamdan, founder and CEO of cloud-based B2B customer engagement platform Unifonic, had already begun to scratch the surface of this concept. Unifonic /unifonic.com / }“In 2006, the Middle East faced significant limitations in mobile internet connectivity and access to social media platforms,” Hamdan recalls. “Traditional short message service (SMS) was the primary mode of communication, as even Blackberry Messenger had restrictions on the number of people an individual could message at a time. To address this communication gap, we developed Resalaty, a website enabling users to upload numerous contacts and simultaneously message them. However, we were university students who needed more business sense, financial plans, and a startup ecosystem to guide us. Despite these challenges, our platform gained traction and eventually rebrand- ed to Unifonic. Today, Unifonic provides conversational artificial intelligence (AI) solutions, including SMS, WhatsApp, voice, chatbot solutions, and mobile push notifica- tions to a diverse and extensive customer base.” Designed as a conversational AI platform and software as a service (SaaS) provider, Unifonic focuses specifically on customer engagement and communication. “Unifonic → Ahmed Hamdan, is the co-founder and CEO of Unifonic, a conversational AI platform.
77 July 2024 / ENTREPRENEUR.COM / enables businesses to automate customer support, marketing, and other operations, further eliminat- ing operational setbacks,” Hamdan adds. “Unifonic’s platform has been designed to cater to a wide range of clients, from large banks to on-demand service apps. The company’s business model centers on providing a single, integrated platform allowing businesses to communicate with their customers through their preferred channels without coding. This is achieved by leveraging programmable application programming interfaces (APIs), which are sets of rules that enable different software applications to communicate with each other. The company gener- ates revenue by charging its clients for the consumption and usage of its platform and services. The platform helps businesses generate leads, accelerate sales, and improve customer engagement. Additionally, it offers solutions for streamlining customer fulfillment and workforce operations.” }Targeting both major enterprises as well as small and medium enterprises (SMEs), Unifonic caters to a wide range of industries, including retail, healthcare, e-commerce, and banking, among many others. “We process over 10 billion transactions annually, each contributing to an enhanced experience for our clients and their customers,” Hamdan adds. “In today’s rapidly evolving landscape, busi- nesses increasingly embrace innovative technologies like cloud solutions and seek integrated platforms to manage their communication needs. SaaS emerges as a pivotal player in this space by offering organizations a flexible, cost-effective means to access and utilize software tools, revolutionizing business operations by streamlining processes, boosting productivity, and fostering innovation. By leveraging our SaaS solu- tions, businesses can expand their revenue opportunities, ease the strain on customer support, and offer a better customer experience overall.” }Hamdan also believes that it is Unifonic’s SaaS model that lends the company the opportunity to create a tangible impact in the industry it operates in. “Thanks to cloud communi- cations solutions, what once seemed like a distant vision of seamless customer interaction is now within reach,” he says. “Gone are the days when achieving effective customer engagement required a substantial up-front investment, a large development team, or a lengthy and complex project. You also no longer need to purchase expensive services from your telecom provider. Welcome to the era of integrated, cloud-based engagement! With our communication APIs, applications (including Chatbot Builder, Agent Console, and Multi-Channel Campaign), and a market- place featuring connectors and other add-ons, and comprehensive technical support, you can test a new customer communication channel within 24 hours of sign up.” }However, the founder notes that adopting effective technology and the subse- quent ease of integration aren’t Unifonic’s only differentiating factors. “We proactively maintain a competitive edge by prioritiz- ing several critical aspects of our operations,” Hamdan says. “Firstly, we strive to function locally whilst adhering to global standards. This includes allocating additional technical, project, product, sales enablement, and marketing resources tailored to each market we serve. We aim to deliver a personalized, multilingual experience that aligns with regional cybersecurity protocols and data protection WE ARE PROUDLY SAUDI-BORN, AND WE CHOSE SAUDI ARABIA AS OUR STARTING MARKET DUE TO ITS RAPIDLY GROWING ECONOMY AND THE GOVERNMENT’S SUPPORT FOR TECHNOLOGICAL INNOVATION, GUIDING US TOWARD A SUCCESSFUL VENTURE.” ↓ Born out of Saudi Arabia, Unifonic today has a presence across the MENA with offices in Dubai, Amman, Cairo, as well as branches in Turkey, Pakistan and the United Kingdom.
78 / ENTREPRENEUR.COM / July 2024 S/Q&A regulations. We recognize the unique needs of emerging businesses, requiring a deep understanding of market dynamics and challenges. There needs to be more than a one-size-fits-all approach in this context. Unifonic has garnered a reputable standing as the premier platform in the MENA region that seamlessly integrates with over 100 SaaS systems. Our broad client base also highlights the versatility and wide applicability of Unifonic’s solutions. In the future, Unifonic aims to sustain its growth by expanding its geographic reach and enhancing its product offerings. The company plans to invest in cutting-edge technologies, such as artificial intelligence and machine learning, to deliver even more advanced customer engagement solutions.” }With such a thorough implementation of its vision, Unifonic has also laid a clear map for its journey to becoming a unicorn. With a team that has already crossed 400 employees, and having recorded consistent growth in its annual recurring revenue over the years, Hamdan believes his company already reflects two key traits of becoming a uni- corn: scalability and sustainability. And enrolling in the Saudi Unicorns program has been exactly the catalyst Unifonic needs at this stage of its growth, with Hamdan describing it as “a truly transformative experience” for his team. “As a part of the program, we were mentored by leading entrepreneurs and industry experts, who helped us hone Unifonic’s business model and opera- tional strategies,” he says. “The Saudi Unicorns program has also provided invaluable mentorship, networking opportunities, and access to resources that have accelerated our growth. The program has significantly impacted our strategic planning and operational efficiency, allowing us to scale more effectively. The mentorship and support have been instrumental in navigating challenges and seizing growth opportu- nities.” }With Saudi Arabia being the homeland of Hamdan and his fellow founders, Unifonic’s story understandably began in the Kingdom. But Hamdan is quick to note that even when they were just starting out (i.e. in 2006), the growth potential of the Kingdom was clearly evident to those who already were a part of the entrepreneurial ecosystem. “The country’s quickly expanding economy and welcoming startup culture were highly beneficial,” Hamdan adds. “The nation’s advantageous and strategic location and robust govern- ment support for entrepreneurship, mainly through initiatives such as Vision 2030, created a favorable atmosphere for us to establish and expand our company. Our business objectives precisely align with the Vision’s focus on fostering technology- driven companies and economic diversification.… We are proudly Saudi-born, and we chose Saudi Arabia as our starting market due to its rapidly growing economy and the government’s support for technological innovation, guiding us toward a successful venture.” }It is this focus on innovation that the Unifonic team found was highly encouraged within the Saudi Unicorns program. “It facilitated an environment that encouraged ground-breaking ideas, which helped us build resilience, while remaining steadfast in our commitment to growth and innovation,” he explains. “The program nurtures an ecosystem rooted in innovation to pave the way for the success of emerging startups. Initiatives like Saudi Unicorns play a vital role in ensuring that newer generations of entrepreneurs are given the necessary support to thrive. To bolster the regional tech landscape, the program provides promising entrepre- neurs with the essential tools and resources to ensure global competence.” And it is this confidence to go global that Hamdan hopes to keep alive within his company, as Unifonic slowly but steadily starts planning for international expansion. }“In line with our commitment to pushing boundaries and fostering innovation, we are keeping close tabs on emerging trends in the digital transformation across the MENA region and globally while also adopting a cautious approach and focusing on fewer markets, where we can forge a more solidified position,” Hamdan reveals. “We are pleased to have recently opened new offices in Cairo, Egypt, Lahore, Pakistan, and, in fact, our new head office in Riyadh, KSA, as part of our efforts to expand our footprint. We are eager to work closely with various businesses to help them achieve their goals and build successful customer relationships. At present, however, our main goal remains the expansion of our reach across Saudi Arabia and to unlock more opportuni- ties in the GCC region. However, soon, we intend to grow into the USA and Europe.”
79 July 2024 / ENTREPRENEUR.COM / W hen Saudi Arabia’s Vision 2030 was drafted in 2016, one of the many economic facets the initiative aimed to focus on was tourism and mobility. Three years following that announcement, Abdulkader Almkinzy and Ali Alfehaid saw an opportunity that would not only align with Vision 2030’s goals, but also reimagine the Kingdom’s transportation industry: creating a more efficient car rental system. Telgani was launched in 2019 as a car rental app that significantly reduces the time and costs associated with renting vehicles. “As Vision 2030 aims to boost tourism, the demand for flexible and reliable transportation options increased,” Almkinzy notes. “Telgani’s services therefore align perfectly with this goal, offering tourists and residents convenient car rental and mobility solutions. By aligning our goals with Vision 2030, we have been able to capitalize on the opportunities it presents, driving our growth, and establishing Telgani as a leader in the mobility market in Saudi Arabia.” Telgani /telgani.com / }Curated as a platform that allows users to compare than 50,000 cars in its catalog, Telgani promises a car booking time of under a minute followed by the car being delivered right to the custom- er’s doorstep in less than 30 minutes- a combination of services that the co-founders believe has “redefined the car rental landscape in Saudi Arabia.” “Telgani was born from a vision to transform the traditionally tedious and time-consuming car rental process,” Alfehaid adds. “Recognizing the frustrations faced by customers, we set out to create Saudi Arabia’s first car rental and mobility marketplace. Our mission is to make renting a car as simple and swift as possible. At Telgani, we promise to deliver cars to our customers in under an hour. This is made possible through our cutting-edge technology, a robust network of rental partners, and an efficient logistics system. Whether it’s a business trip, a family vacation, or an urgent need, we ensure that our customers get their chosen vehicle delivered to their doorstep, ready to drive. Our platform offers a wide range of vehicles and renting options, ensuring that there is something for everyone. By eliminating the hassles of long waiting times and cumber- some paperwork, we have made the car rental experience not just easier, but also more enjoyable.” }But the reduced booking time isn’t all there is to Telgani’s offerings. “We also ensure cost savings for our customers,” Almkinzy notes. “If the rental car price in Telgani is higher than the market, we give the customer the difference in their wallet, ↓ Abdulkader Almkinzy and Ali Alfehaid are the co-founders of Telgani, a car rental platform that aims to reshape Saudi Arabia’s mobility and transportation industry. TELGANI WAS BORN FROM A VISION TO TRANSFORM THE TRADITIONALLY TEDIOUS AND TIME-CONSUMING CAR RENTAL PROCESS. RECOGNIZING THE FRUSTRATIONS FACED BY CUSTOMERS, WE SET OUT TO CREATE SAUDI ARABIA’S FIRST CAR RENTAL AND MOBILITY MARKETPLACE.”
80 / ENTREPRENEUR.COM / July 2024 along with a 20% discount for their next rental. This guarantees the best deal in the market. Additionally, we offer innovative services like flex leases, allowing customers to lease a car and change it anytime without extra cost. This flexibility caters to the evolving needs of modern customers, who seek convenience and adaptability in their mobility solutions. Flex leases remove the long-term commitment and provide the freedom to switch vehicles as their needs change, making it an attractive option for many.” }Telgani’s ambitions to reshape Saudi Arabia’s car rental market, however, aren’t solely tethered to the customers of the sector- the platform has dedicated equal focus, and advantages, to the car rental companies themselves. “For service providers, we tackle high capital requirements, limited market data, and fleet management chal- lenges by enabling a three times increase in demand, a 30% boost in car utilization, and easy business manage- ment via cell phone,” Almkinzy explains. “This comprehensive approach enhances the car rental experience and drives efficiency and satisfaction for all stakeholders. By partnering with us, rental companies also save more than 20% on administrative and operational costs and see a 50% increase in their sales. This dual benefit helps our partners thrive in a competitive market while providing superior service to customers.” }By thus catering to the mobility needs of a diverse customer base which includes individual customers, business travelers, tourists, corporate clients, as well as car rental companies, Telgani has established itself as one of the leading car rental platforms in Saudi Arabia. With a team of 94 employ- ees, and several funding rounds being raised already, the company has now set its sights on bagging unicorn status. “Telgani is positioned for continued growth, with plans to expand internation- ally and offer comprehensive mobility solutions,” Alfehaid says. “Aligning with Saudi Arabia’s Vision 2030, we support economic diversifi- cation and infrastructure development. Our focus on innovation, customer satisfaction, and efficiency positions us to become a global leader in the mobility market. Telgani’s rapid growth, strong market position, and innovative approach underscore our significant potential and long-term value. We are committed to shaping the future of mobility in Saudi Arabia and beyond! Ultimately, it is our combination of swift delivery, cost-saving measures, and flexible leasing options that positions us as a leader in the car rental and mobility market, with the potential to replicate this success on a global scale.” }Such goals, of course, have found a welcoming environment at the Saudi Unicorns program- a place where Almkinzy and Alfehaid say they’ve been able to avail multiple benefits. “For starters, the most significant benefit was the 10X program to develop our objectives and key results (OKRs) and net promoter score (NPS),” Almkinzy says. “Over three months and eight sessions involving co-founders and managers, we implemented a robust OKR method. This now helps us track and improve company perfor- mance effectively. We also periodically apply the NPS methodology to gauge customer satisfaction, as our product is customer-centric. This allows us to understand customer happiness levels and pinpoint areas for product improvement. Additionally, the program S/Q&A BY ALIGNING OUR GOALS WITH VISION 2030, WE HAVE BEEN ABLE TO CAPITALIZE ON THE OPPORTUNITIES IT PRESENTS, DRIVING OUR GROWTH AND ESTABLISHING TELGANI AS A LEADER IN THE MOBILITY MARKET IN SAUDI ARABIA.” → Telgani’s services are available across Saudi Arabia including Riyadh, Dammam, Jeddah as well as Abha Airports.
also offered unique courses from leading universities and leadership institutions. These courses have added immense value to our product and business by enhancing our team’s knowledge and skills.” }But it hasn’t been smooth sailing all along for the Telgani team either. When asked what the most challenging phase of their entrepreneurial journey has been so far, the co-founders recall a time when it felt nearly impossible to convince a major car rental supplier of the potential added value Telgani would bring. “They were skeptical about the benefits, and hesitant to adopt new technology, so we decided to organize a live demonstration at our office, inviting their top executives to see our system in action,” Alfehaid says. “Our team worked tirelessly to set up a seamless presentation. On the day of the demo, we transformed our modest office into a hub of innovation, showcasing our streamlined booking process, the efficiency of our logistics, and the potential for increased sales and reduced costs. The executives arrived, and as they witnessed the speed and ease of our platform, their skepticism turned into genuine interest. By the end of the presentation, they were not only convinced, but excited to partner with us. This partnership became a cornerstone of our success, marking the beginning of many more successful partnerships.” Now, delve a little deeper into the company’s name, and you will find that it carries the vision with which it was built. “The name ‘Telgani’ was inspired by our commitment to being available and accessible to our customers whenever they need us,” Almkinzy says. “In Arabic, Telgani means ‘you will find me whenever you want, and we are around and near to you.’ This perfectly encapsulates our mission to provide swift, reliable, and convenient car rental services.” And it is this drive that seems to drive forward the co-founders’ upcoming plans as well. “After the Saudi Unicorns program, Telgani is poised for further growth and innovation,” Almkinzy continues. “Through the further building of comprehen- sive mobility solutions, we aim to cover all mobility needs for our customers. This will include daily rentals offering a wide range of vehicles for short-term needs; travel services that provide tailored solutions for travelers, ensuring they have the right vehicle for their journey; introducing lease-to-own options that allow customers to lease vehicles with the option to purchase them eventually; and finally, transportation partnerships through which we will collabo- rate with ride-hailing services to offer comprehensive transporta- tion solutions.” }As Almkinzy and Alfehaid now look to the future, the co-found- ers move ahead content with how their journey has panned out so far. “Despite the challenges, Telgani’s journey is a story of innova- tion and perseverance.,” they say. “We overcame supplier resistance and resource constraints, reduced booking times to less than one minute, and offered competitive pricing. Today, Telgani is reshaping the car rental landscape in Saudi Arabia and beyond, thanks to our dedicated team and commitment to excellence. Looking ahead, Telgani aims to continue innovating and enhancing the customer experience. Our goal is to introduce new services and maintain our position as the leader in Saudi Arabia’s mobility market. At Telgani, we are not just renting cars; we are shaping the future of mobility in Saudi Arabia!” The Middle East faces both challenges and opportunities in its pursuit of sustainability. As major producers of oil and gas, GCC countries have historically relied on fossil fuels for economic growth, posing environmental concerns such as air pollution and carbon emissions. However, there's a growing recognition among GCC nations of the need to diversify their economies, and embrace sustainable development practices to ensure long-term prosperity and resilience. The Sustainability Innovation Awards in the Middle East therefore serve as powerful catalysts for recognizing and promoting innovative initiatives that contribute to environmental stewardship, social responsibility, and economic development in the region. These awards showcase exemplary projects and practices that demonstrate a commitment to sustainability across various sectors, including energy, water management, construction, and community engagement. Organizations, businesses, and individuals are honored for their contributions towards building a more sustainable future for the Middle East. Staged by BNC Publishing, the media house behind Entrepreneur Middle East, the Sustainability Innovation Awards will take place this year on August 30, 2024 at the Hilton Al Habtoor City in Dubai, and nominations are now being welcomed on the event's official website. Individuals and institutions wishing to be recognized for their efforts in the sustainability domain are invited to be part of this annual event that is now in its third edition, and supported by Gold Sponsors Hansgrohe and Numai Real Estate and Silver Sponsor AECOM. sustainability-awards.me This year’s edition of this annual event will happen on August 30, 2024, in Dubai NOMINATIONS NOW OPEN FOR THE SUSTAINABILITY INNOVATION AWARDS 2024
82 / ENTREPRENEUR.COM / July 2024 S Ecosystem / M ore than 1,200 people came together for the second edition of Vision Golfe, which was staged from June 4-5, 2024, at the French Ministry of Economy, Finance, Industrial and Digital Sovereignty in Paris. Organized by Business France, the French government agency supporting the international development of the country's economy, Vision Golfe is an annual event that aims to foster trade cooperation between France and the nations of the Gulf Cooperation Council (GCC). Held under the patronage of French President Emmanu- el Macron, Vision Golfe 2024 saw the attendance of more than 500 stakeholders from the GCC, and it included high-level speakers like French Minister of Economy Bruno Le Maire, Bahrain Minister of Health Dr. Jaleela bint AlSayed Jawad Hasan, Oman Minister of Energy and Minerals Eng. Salim Al Aufi, French Agency for AlUla Development (AFALULA) President Jean-Yves Le Drian, and several others. Vision Golfe 2024 was designed to facilitate the creation of new businesses and foster the signing of more contracts between France and the GCC. By bringing together key stakeholders from both regions, it provided a platform for networking, knowledge exchange, and strategic partnerships. This collaboration is expected to lead to increased investment flows, innovative projects, and mutually beneficial ventures. Commenting on the event, Laurent Saint-Martin, CEO, Business France, said, in a statement, “In a world facing crises of all kinds and amid significant tensions in the Near and Middle East, we at Business France, alongside our Gulf partners, have chosen to build bridges. By leveraging shared expertise, cultural exchange, and mutual investment opportunities, Vision Golfe seeks to create a resilient and prosperous future with our exceptional Gulf partners with which France maintains high- quality bilateral coopera- tion. I hope that we, both individually and collectively, will meet the expectations and needs of our Gulf partners, whose high standards should compel us. The competition is fierce. Let's rise to the occasion.” Bilateral engagement was definitely the focus of Vision Golfe 2024, with the event seeing the attendance of more than 40 officials, which included GCC ambas- sadors to France, French diplomats, and representa- tives from Saudi, Qatari, Kuwaiti, Bahraini, Omani and UAE authorities, as well as CEOs of companies in both France and the GCC. Significant agreements were also forged on-site, including one between the Saudi Ports Authority (MAWANI) and France’s Grand Port of Marseille Fos, which, given their strategic positions at the crossroads of Asia and Europe, symbolized the strengthen- ing of maritime connections within the framework of the construction of the India-Middle East-Europe Economic Corridor (IMEC). An agreement was also signed between Export Bahrain and the French Chamber of Commerce to promote Bahraini exports, while also facilitating business relations between France and Bahrain. Another key highlight was the establishment of the France Lab at the Abu Dhabi-based Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI). According to Axel Baroux, Regional Director for the Middle East at Business France, and French Trade and Invest Commissioner to the UAE, such announce- ments underscored the significance of this year’s Building Bonds The record attendance at this year’s edition of Vision Golfe points to the growing economic ties between France and the GCC ↑ Business France CEO Laurent Saint-Martin at Vision Golfe 2024.
83 July 2024 / ENTREPRENEUR.COM / IN A WORLD FACING CRISES OF ALL KINDS AND AMID SIGNIFI- CANT TENSIONS IN THE NEAR AND MIDDLE EAST, WE AT BUSI- NESS FRANCE, ALONGSIDE OUR GULF PARTNERS, HAVE CHOSEN TO BUILD BRIDGES.” → French Agency for AlUla Development (AFALULA) President Jean-Yves Le Drian at Vision Golfe 2024. installment of Vision Golfe. “This has been an amazing edition of the event, with 20% more delegates than last year,” he noted. “We’ve got concrete business happening here!” Baroux also believed that the event had delivered on its promise to build on the already strong ties between France and the GCC. “We have a long history of friendship between our country and the GCC,” he said. “Despite all the competition, I believe that working hard consis- tently and mutual trust between our partners is the recipe for success.” The productive relation- ship that France and the GCC nations share was also vouched for by H.H. Princess Noura Faisal Al Saud, who attended Vision Golfe in her role as an advisor to the Group CEO of Saudi Arabian business conglomerate Al-Othaim. “The relationship between France and the GCC has been going back years and years,” she noted. “Business has always been the exchange between two countries, and cultural exchange has also always been there. I believe there is so much room to do business.” Given how France has always been a destination of choice for GCC citizens and residents, Al Saud noted that French brands stand to gain a lot if they choose to do business in these nations. “If your target audience appreciates what you’re offering [in France], it makes sense to be present and provide the same experience in their own country,” she said. That said, she admitted that while French companies often see the potential presented by the GCC, they are often hesitant about making the move on their own. “My answer to that is to try to find a good partner whom you could work with,” she added. “However, they need to act quickly, because the market is getting very competitive.” Christophe Bourland, CEO of First Abu Dhabi Bank (FAB) in France, agreed with this sentiment, ↑ At Vision Golfe 2024, a memorandum of understanding was signed between Export Bahrain and the French Chamber of Commerce to promote Bahraini exports while facilitating business relations between France and Bahrain.
84 / ENTREPRENEUR.COM / July 2024 noting that there is a lot of incentive for French businesses to explore the GCC market- and this is especially true given the ongoing shifts in the global economy. Indeed, Bourland recalled how, years ago, his father would counsel him to “go West,” but now, such advice would have to rephrased as to “go East.” Here, Bourland noted how the UAE has especially come into its own a place for investment in the GCC, with entrepreneurs known to flock to the opportunities it presents. “Investors are looking for new opportuni- ties beyond the traditional markets like London, New York, or Paris, and the UAE offers significant incentives to welcome young entrepre- neurs who want to succeed,” he added. Amr Mohamed Metwally, Associate Executive Director of the ITQAN Clinical Simu- lation and Innovation Center in Doha, Qatar, concurred with Bourland, saying, “The GCC has the population, the awareness, regulatory improvement, and capital. Speaking about Qatar specifically, US$5.3 billion was promised to be spent on the healthcare market. There was also a $1 billion venture capital fund announced at Web Summit Doha, which was staged recently. We are seeing the opportunities in tech, fintech, and healthcare.” However, Metwally urged French businesses looking to make the move to the GCC to do their due diligence, and be prepared to invest time and effort in the region. Plus, he urged them to remember that the GCC is made up of different nations, and as such, each country needs to have a strategy specific to it. Business maturity levels differ from nation to nation, as well as sector to sector- significant value therefore needs to be placed on researching and creating a good idea that will solve a problem in these markets. “You must also be willing to relocate to the region if you choose to invest,” he added. “Because you must build trust in the market- which means a lot in the region. In the GCC, if we trust you, then we will work with you.” “There is so much room to do business,” Princess Noura added. “And it’s about how you can do it, finding the right partner, understanding the market, and catering to the right demographic. Understand the day-to-day [mechanics] of the region, understand the policies and infrastructure, and with the right partner, it will be a stronger and better collaboration.” INVESTORS ARE LOOKING FOR NEW OPPORTUNITIES BEYOND THE TRADITIONAL MARKETS LIKE LONDON, NEW YORK, OR PARIS, AND THE UAE OFFERS SIGNIFICANT INCENTIVES TO WELCOME YOUNG ENTREPRENEURS WHO WANT TO SUCCEED.” ↓ More than 1,200 people came together for the second edition of Vision Golfe, which was staged from June 4-5, 2024, at the French Ministry of Economy, Finance, Industrial and Digital Sovereignty in Paris. ↑ Entrepreneur Middle East Editor in Chief Aby Sam Thomas led a panel discussion at Vision Golfe 2024 with Amal Ameen, Founder, Amal Ameen Group; H.H. Princess Noura Faisal Al Saud, CGEO Consultant, Al Othaim Investment; Geoffroy Bunetel, Chief of Staff, Chalhoub Group; Patrick F. Bousquet-Chavanne, Abu Dhabi Retail Program Lead, Abu Dhabi Investment Office; and Hugo Weber, VP - Corporate Affairs and Impact, MIRAKL. S Ecosystem /
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86 / ENTREPRENEUR.COM / July 2024 S horooq Partners, the UAE-based alternative investment manager with interests spanning the MENA region, has made its entry into the entrepreneurial ecosys- tem of Türkiye by leading a US$5 million seed round in the traveltech startup, Roamless. The seed round also saw the participation of venture capital firms like Revo Capital, Paribu Ventures, and Finberg, all based out of Türkiye, as well as Luxembourg-based DeBa Ventures. Launched in 2023, Roamless is an eSIM provider that aims to “revolutionize the landscape of travel connectivity.” The US-based company, which has its leadership team rooted in Türkiye, now boasts of a user base approaching 100,000, with it offering seamless travel internet in 69 countries (soon 150+) around the world, as well as worldwide international calling experiences. Shorooq Partners’ investment in Roamless is thus in line with its extensive sectoral expertise in fintech, platforms, software, gaming, and Web3.0 and its championing of visionary startups. Commenting on the investment, Mahmoud Adi, Founding Partner of Shorooq Partners, said in a statement that Roamless is “a company poised to disrupt the traveltech industry.” He added, “Roamless’s innovative approach to connectivity aligns with our vision of fostering transformative ventures that redefine traditional paradigms. This investment not only reflects our confi- dence in Roamless’s potential, but also underscores our commitment to nurtur- ing the burgeoning tech ecosystem in Türkiye.” While this is Shorooq Partners’ first investment in Türkiye, Adi told Entrepre- neur Middle East that the firm now plans to build on its presence in the country. “Türkiye boasts a vibrant and rapidly growing tech ecosystem with a strong talent pool and entrepreneurial spirit,” Adi said. “The country’s strategic location, bridging Europe and Asia, offers a unique advantage for startups aiming to scale internationally. Plus, the government’s proactive support for the tech sector, coupled with a dynamic startup environ- ment, aligns well with our Shorooq Partners investment philosophy of nurturing innovative ventures. We thus plan to deepen our involvement by establishing local partnerships, fostering relationships with key stakeholders, and potentially setting up a dedicated office to better serve and support Türkiye’s startups.” Now, given that Shorooq Partners has stamped its presence in Türkiye, one can expect entrepreneurs from the country to vie for the VC firm’s attention. To them, Adi had a few pieces of advice to share. “Entrepreneurs should focus on demon- strating a clear problem-solution fit, and articulate how their product or service addresses a significant market need,” he said. “A winning pitch includes a compelling narrative, showcasing not only the innovation, but also the team’s capability and track record. It’s crucial to highlight scalability and potential for regional or global expansion. In addition, entrepreneurs should emphasize their unique value proposition, market traction, and how their vision aligns with Shorooq Partners’ mission to foster transformative ventures. Showing a deep understanding of market dynamics and competitive landscape will also help them stand out.” shorooq.com In The Loop/ IMAGES COURTESY ROAMLESS Expanding Horizons UAE-Based Shorooq Partners makes first investment in Türkiye by leading a US$5 million seed round in traveltech startup Roamless → The team behind traveltech startup Roamless. → Mahmoud Adi is the Founding Partner of Shorooq Partners.