Entrepreneur Middle East
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NOVEMBER 2020 | ENTREPRENEUR.COM | UAE AED20 9 7 7 2 3 1 1 5 4 1 0 0 8 > SHAKING THINGS UP SHARIF EL-BADAWI AND HASAN HAIDER COME TOGETHER TO LAUNCH +VC WHEN THE GOING GETS TOUGH ENTREPRENEURS IN THE UAE’S F&B SECTOR ARE STEPPING UP THE ROAD TO RECOVERY MARK WILLIS/ Accor MEA CEO on taking a people-focused approach, immediate wins, and bouncing back BUILDING A LEGACY DISTRICT 2020 AIMS TO GROW DUBAI’S INNOVATION ECONOMY
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4 / ENTREPRENEUR.COM / November 2020 20 INNOVATOR THE ROAD TO RECOVERY Mark Willis Accor MEA CEO on taking a people-focused approach, immediate wins, and bouncing back. 26 INNOVATOR BUILDING A LEGACY Tala Al Ansari The Director, of Scale2Dubai, District 2020, is leading a global initiative aimed at growing Dubai’s innovation economy. 36 CULTURE DESIGN Challenge accepted UNESCO launches an international competition to rebuild a global icon in Iraq. 46 ROUNDTABLE RETHINKING BUSINESS The latest edition of the Entrepreneur Middle East Round Table presented by du emphasized the importance of pivoting business models through the course of the COVID-19 crisis. 68 MONEY VC VIEWPOINT Go big or go home Al Waha Fund’s Areije Al Shakar opines that more Middle Eastern boldness is needed to break “the scale- up ceiling.” 58 START IT UP PRO Inshallah, hayom Matthew L. McGrath explores how the Abraham Accord between Israel and the UAE can generate new business opportunities. 59 START IT UP PRO Moving forward, with hope Yair Levy on how the Israel- UAE accord can enable the countries’ startup ecosystems to benefit from each other. 54 MONEY VC VIEWPOINT Shaking things up Sharif El-Badawi and Hasan Haider, co-founders of +VC, on how they expect their US$60 million fund to boost and bolster the region’s startup ecosystem. CONTENTS NOVEMBER 2020 20 Mark Willis, CEO of Accor Middle East and Africa
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12 / ENTREPRENEUR.COM / November 2020 62 START IT UP ECOSYSTEM When the going gets tough Despite the negative reper cussions of the COVID-19 crisis, entrepreneurs in the UAE’s F&B sector are stepping up to challenge the status quo. 66 START IT UP Q&A Saying yes to opportunities Dana Baki, co-founder and Chief Operating Officer at MUNCH:ON, reflects on her journey in the entre preneurial domain. 52 ‘TREPONOMICS PRO Keep on trucking Gaurav Biswas, founder and CEO of TruKKer, reveals the ins and outs of growing a logistics and supply chain business during a global crisis. 50 ‘TREPONOMICS PRO Staying ahead Toufic Kreidieh looks back at the lessons learned during two decades of growing the Brands For Less Group. 18 IN THE LOOP Securing the future Sheraa launches UCAN Startup Awards to support and promote healthtech and agri- foodtech entrepreneurs in the MENA region. 30 TECH SHINY #TamTalksTech Gadgets and doodads that you might’ve missed out on, sourced by a tech aficionado. 32 CULTURE TRAPPINGS ‘Trep gear The executive selection for the entrepreneur on your list that has every thing. Okay, maybe for a little self-reward as well. CONTENTS NOVEMBER 2020 38 30 H.E. Noura Al Kaabi, UAE Minister of Culture and Youth Porsche Design Acer Book RS
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14 / ENTREPRENEUR.COM / November 2020 SUBSCRIBE Contact subscriptions@bncpublishing.net to receive Entrepreneur Middle East every issue EDITOR IN CHIEF Aby Sam Thomas aby@bncpublishing.net CEO Wissam Younane wissam@bncpublishing.net DIRECTOR Rabih Najm rabih@bncpublishing.net CREATIVE LEAD Odette Kahwagi MANAGING EDITOR Tamara Pupic STARTUPS SECTION EDITOR Pamella de Leon DIGITAL SOLUTIONS DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa COLUMNIST Tamara Clarke INTERN Aalia Mehreen Ahmed PO Box 502511 Dubai, United Arab Emirates P +971 4 4200 506 | F +971 4 4200 196 For all commercial enquiries related to Entrepreneur Middle East contact sales@bncpublishing.net All rights reserved 2020. 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. Printed by United Printing and Publishing upp.ae Images used in Entrepreneur Middle East are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock. CONTRIBUTORS entrepreneur.com/me ACCESS FRESH CONTENT DAILY ON OUR WEBSITE! MIDDLE EAST EntMagazineME @EntMagazineME Entrepreneur-me EntrepreneurMiddleEast EntMagazineME EntMagazineME EntMagazineME MIDDLE EAST In addition to our print edition, we’re bringing you all sorts of industry news on our web mediums. Joining us online means getting relevant business and startup content in real-time, so you’re hearing about the latest developments as soon as we do. We’re looking forward to interacting with our readers on all of our social media and web platforms- like any thriving business, we’re looking to give and take. #TrepTalkME is already happening on all of our digi platforms, and all good conversations go both ways. See you on the web! Tala Al Ansari Fida Chaaban Tamara Clarke Matthew McGrath Toufic Kreidieh Yair Levy Areije Al Shakar
16 / ENTREPRENEUR.COM / November 2020 I t is perhaps a characteristic of the times we currently live in that I have been recently find- ing myself being posed ques- tions for which my reply, often grudgingly, is that “I don’t know.” Those of you in leader- ship roles at your respective places of work may have found yourselves in the same boat lately- given the COVID-19 crisis, we are often being asked as to “when will things go back to the way they were,” and having to accept and acknowledge our igno- rance on this particular matter can be quite frustrating, especially since we may have well been looked upon as people who’d have all the answers once upon a time. For me, personally, the reason for my discomfort with saying “I don’t know” is centered on the premise I have sort of built in my head that uttering this three-word-phrase is an admission of the fact that one hasn’t tried enough to figure out a solution to the problem at hand. Now, I still think this to be the case for certain matters, but I’ve also come to the realization that there is a definite difference between saying “I don’t know” because I’m too lazy to find an appropriate solution, and say- ing “I don’t know” because I haven’t been able to find a solution, despite how hard I tried. The latter feeling is essentially what I’ve been wrestling with over the course of the COVID-19 crisis- and I’ve since found that it’s not just me deal- ing with this in this our current era of uncertainty. From people managing teams within large conglomerates, to entrepreneurs running shoestring startups, business leaders everywhere are having to come to terms with the idea that they are now playing in a strange, new arena where the rules seem to be constantly changing. Not only do they not have answers for everything, they simply cannot predict outcomes as comfortably as they prob- ably did at one point in time. So, where do we go from here? Well, for starters, I think we need to start getting a lot more comfortable with saying “I don’t know,” and not seeing it as a personal failure, and instead looking at it as being true to who we are, and what we know, in our current circumstances. At the same time, it is leveling the ground between us and those around us- such instances are essentially opening up avenues for dialogue and conversations that could perhaps help us figure out potential solutions in a collective manner. Indeed, this might even lead to just a tacit acceptance of the way things are today, and taking on things one day at a time- and moving on ahead, regard- less. EDITOR'S NOTE You aren’t expected to have all the answers NO ONE HAS A CRYSTAL BALL Aby Sam Thomas Editor in Chief @thisisaby aby@bncpublishing.net
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18 / ENTREPRENEUR.COM / November 2020 IN THE LOOP T he ongoing CO VID-19 crisis has brought forward the importance of the healthcare and food industries to societies and governments across the globe. As Najla Al Midfa, CEO of Sharjah Entrepreneurship Center (Sheraa), puts it: “Our soci eties and economies are only as strong as our food and healthcare infrastructure. Progress across industries can be sustained so long as people have continuous access to nutritious food and affordable healthcare services.” It’s with this thought in mind that Sheraa, as part of its wider response to coun ter the effects of the corona virus pandemic in the MENA region, launched the Ubuntu Care And Nurture (UCAN) initiative in late September this year. The contest has been specifically conceptual ized to help promote and aid socially-minded innovations that can cater to either one of two main themes: “Healing the World” for healthtech, and “Feeding the Future” for agri-foodtech. The initiative’s name itself reemphasizes Sheraa’s allegiance to the #Ubun tuLoveChallenge, a global social movement founded by Sheraa Chairperson H.E. Sheikha Bodour bint Sultan Al Qasimi and Africa 2.0 Foundation founder Mamadou Kwidjim Toure that encourages people across the world, regardless of their background, race, or religion, to foster and spread values of humanity and col lectiveness through acts of kindness and solidarity. “We launched the UCAN Startup Awards in partner ship with the Ubuntu Love Challenge in order to sup port entrepreneurs working to leave a lasting impact on their communities, and who are developing solutions for a post-COVID-19 world,” Al Midfa says. “Through this initiative, we want to sup port startups whose unique healthtech and agri-foodtech solutions are meeting the urgent needs of not just the communities they serve, but the world at large. By direct ing our immediate focus to these key sectors, Sheraa seeks to promote the UAE’s and the region’s efforts to secure our future.” Al Midfa reveals that the UCAN initiative has, so far, received nearly 700 submis sions from the MENA and sub-Saharan Africa regions. With applications now closed, the semi-finalists of the competition are sched uled to be announced on the November 4, 2020, with the finalists scheduled to be an nounced a week later on the 12th. The final winners of the UCAN initiative will be announced on December 6th this year. The initiative, which has a US$250,000 equity-free prize purse, will reward the first prize winners with a $100,000 grant, while each of the runners-up will receive a grant of $25,000. The basic requirements to fulfil the judgment criteria was simple: the startup must have a fully developed product or minimum viable product (MVP), display growth and impact through their idea, and be interested in expanding into the MENA market. But in addition to the aforementioned cash prizes, the winning startups are also set to receive plenty of other benefits. For start ers, the Sharjah Research Technology and Innovation Park (SRTIP), a partner of Sheraa, will provide access to subsidized licensing and office set up support to the winning teams. GEN Ac celerates, another one of Sheraa’s global partners, has provided all startup appli cants with a comprehensive content library. A few selected startups will also receive exclusive access to media and PR support services owing to Sheraa’s partnership with Entrepreneur Middle East. The final winners of the UCAN initiative will be able to gain access to conferences and networking events, and receive mentorship from industry experts to scale up and grow in the region. Al Midfa points out that while the competition itself is heavily reliant on tech- enabled innovations, the core underlying reason for this initiative is still largely driven by the need to create sustainable, social impact in a post-COVID-19 world. “Essentially, the UCAN Startup Awards, in addition to being Sheraa’s response to challenges posed by COVID-19, is also an en deavor to promote conscious entrepreneurship at home and across our region, which is already a growing global force,” Al Midfa concludes. sheraa.ae/ucan Sheraa launches UCAN Startup Awards to support and promote healthtech and agri- foodtech entrepreneurs in the MENA region by AALIA MEHREEN AHMED Securing the future
20 / ENTREPRENEUR.COM / November 2020 INNOVATOR IMAGES COURTESY ACCOR MEA
21 November 2020 / ENTREPRENEUR.COM / THE ROAD TO RECOVERY MARK WILLIS/ Accor MEA CEO on taking a people- focused approach, immediate wins, and bouncing back I t was at the second day of the 2020 Arabian Hotel Investment Conference (AHIC) held in Dubai in late September that I got to meet with Mark Willis, CEO for the Middle East and Africa at Accor, at his suite in the Rixos Premium Dubai Jumeirah Beach Residence (JBR), one of the many hotels that fall under the umbrella of the Paris- headquartered global hospitality company that he works for. In my conversation with him, I found that Willis exhibited all of the gracious characteristics one would typically expect from someone who works in the hospitality business, and yet, his charm couldn’t belie the fact that he is working in an industry that hasn’t yet completely recovered from the economic repercussions of the coronavirus pandemic that hit the world in 2020. But while Willis didn’t deny the dire straits that his sector has found itself in over the last couple of months, he remains almost incredibly optimistic about the road ahead. “I think, from an Accor perspective, like many of the big brands, we’ve obviously been heavily impacted by the last six months,” Willis says. “And now is the time to look forward and take a positive position on what that future looks like. We have a portfolio of wonderful brands at Accor, and everything to play for. The market remains subdued, of course, but that won’t last. And you’ll see as you move out of 2020 and into 2021, the dynamics of business and the demand of our industry will start to come back, I’m sure.” by ABY SAM THOMAS THE ROAD TO RECOVERY | MARK WILLIS, CEO, ACCOR MEA
22 / ENTREPRENEUR.COM / November 2020 Glimmers of this hopeful future that Willis foresees are already starting to show- he’s actually been privy to it thanks to his role at Accor. With over 35 brands in the Middle East and Africa, Ac cor currently has a portfolio of 300 properties and over 65,000 keys in the region, covering all segments running from economy (think Ibis) to luxury (think Fairmont). As such, it’s easy to see that the COVID-19 pandemic must have dealt a big blow to this hospitality enterprise’s operations in the region, with it having to suffer through everything from cancellations to closures through the course of the crisis. This was espe cially evident in its operations in the UAE, where Accor is (with over 64 hotels across the country) the largest operator across all brands. But today, it’s the resumption of Accor’s business in the UAE (and the reception to it) that is one of the clearest indicators of the recovery that’s slowly happen ing across the region’s hospi tality landscape- over 75% of its hotels in the country have now reopened, and there’s a tide of consumers flocking to them as well. “While there are obviously changes on the ho rizon, we are opening hotels in the right way, following local legislation and working with government entities,” Willis says. “From a practical per spective, you can follow all the legislation, implement social distancing, etc., but you can still also provide a wonderful experience at a hotel level. No more so than this hotel where we are sitting today, the Rixos Premium Dubai JBR, which, for September, is running figures ahead of last year, which is just wonderful to see. Regional demand, and now, international demand is start ing up again, as people look to travel, or start to travel, with Dubai being a destination of choice.” It’s signs like these that Wil lis is using to bolster his belief that things will be looking a lot better for his enterprise (and the hospitality industry in general) in the months to come. “I think that there will be a very positive period next year, hopefully on the back of global trends,” Willis says. “Things will start to improve. Here, you’ve obviously got key demand drivers: religious tourism into KSA, and here in Dubai, of course, we’ve got Expo 2020 from Q3 into Q4 next year, which will have a huge effect, I’m sure. I think, from a global perspective, and not just in relation to Accor, I think others will take a similar approach of positivity. Today, at AHIC here in Dubai, we’ve seen [data INNOVATOR “While there are obviously changes on the horizon, we are opening hotels in the right way, following local legislation, working with government entities.” Sofitel Dubai The Obelisk
23 November 2020 / ENTREPRENEUR.COM / intelligence provider] STR talk about growing statistics, increases in occupancy and rates globally, no more so in China, now touching about 50% occupancy levels month- on-month, which is super positive to see- obviously, they are a little bit ahead of the of the pandemic versus every body else, but, yes, definitely, demand is returning. Yes, it’s slow, and, yes, the outlook remains uncertain, but, I think, from an Accor perspec tive, we continue to remain positive and look ahead to the future and what that business landscape is going to look like, and indeed, how we’re going to function accordingly.” Now, if we go by the princi ple that one’s actions today are a signifier of things to come, then Accor seems to be on the right track for a world after the coronavirus pan demic, given what Willis tells me the company has been do ing through the course of this crisis. “As we’ve gone through the last months, Accor has taken a very people-focused approach to the pandemic,” Willis says. “We’re a business entity, of course, we’re a com mercial entity, and focused on that, absolutely- but this has been a definite period of focusing on our people, our customers, and indeed, our owners, and making sure that we all come through the pandemic, and the way that it’s impacted our business, together, as positively as we can.” Willis placed his team first when listing his company’s priorities when navigating the COVID-19 crisis, and this was ably demonstrated by Accor through the launch of its ALL Heartist Fund in April, with the “ALL” being a nod to its “Accor Live Limitless” brand promise. Following consulta tions with its main sharehold ers JinJiang International, Qatar Investment Authority, Kingdom Holding Company, and Harris Associates, Accor announced its decision to allo cate 25% of its 2019 dividend payment -which came around to EUR70 million- to this Fund that was aimed at assist ing the company’s 300,000 employees in a variety of ways. Besides pledging to pay for any COVID-19 related hospital expenses for employ ees without social security or medical insurance, this Fund also aimed to support, on a case-by-case basis, furloughed employees suffering great financial distress, as well as individual partners facing financial difficulties. Accor Chairman and CEO Sebastien Bazin also announced he’d forego 25% of his compensa tion during the crisis, with the cash equivalent being contributed to the Fund as well. Talking about the Fund and its roll-out, Willis con fesses to me that when it was first announced, he was quite skeptical about the impact it would have- but he was soon proved wrong. “When it was first brought out, I really had an anticipation that it would be a very overly bureaucratic, administration nightmare to do,” Willis admits. “But that hasn’t been the case at all. It’s been very simply put together, under very clear direction from our CEO: the Fund is available to support our team members that are impacted by COVID-19, in whichever way, shape, or form… And that has been a wonderful fund to have at our disposal. Here, in my area specifically, we’ve granted over 2,500 grants- and, obvi ously, that’s escalating now as we move forward.” When it comes to the cus tomers, Willis says that Accor has been doing pretty much whatever it can to try and en courage people to return to the company’s properties through every stage of the COVID-19 crisis. One of its earliest efforts in this regard was in May when Accor launched the ALL Safe initiative in all of its hotels, which saw it develop intensified hygiene and pre vention measures in partner ship with Paris-headquartered certification company, Bureau Veritas, and then implement it across all of its properties to safeguard guests’ health and safety. “I think the collabora tion with Bureau Veritas has been very positive in assisting us with implementing ALL Safe, which has been a very well put together, structured program implemented across all the brands, at all hotels, looking at both the operation al practicality of dealing with COVID-19, and also making sure that guests are as safe as they can be when they come to our hotels,” Willis adds. “We also put in a 24-hour help line, which has been done with [insurance company] AXA, which, again, I thought would not be utilized as much, but it actually has been so well received, not least from an information flow perspec tive from our guests.” Willis also points out that given the uncertain climate we are all currently living in, Accor has also made use of flexible booking policies and attractive promotions to try and entice people to return to hotels again- small things that have, as he put it, “made a differ ence.” >>> THE ROAD TO RECOVERY | MARK WILLIS, CEO, ACCOR MEA Mark Willis, CEO of Accor Middle East and Africa and Fahad Al-Alloush, CEO of Al Raya Real Estate
24 / ENTREPRENEUR.COM / November 2020 At the same time, given the current market conditions, one would perhaps assume that new developments, signings, and openings in the hospitality industry would have come to a standstill- but that’s absolutely not been the case at Accor, Willis says. “Have things slowed down? Yes, of course. They’ve slowed down, especially on the open ing front, as we work with our partners, and indeed, we’re advising some partners to slow down with openings, for sure. But it hasn’t stopped in any way, shape, or form. No more so than here at AHIC, which normally is a place for signing hotels- we signed two super hotels today, a Rixos that will open in Deira, Dubai, called Jewel of the Creek, with Dubai Developments. It’s going to be a fabulous hotel when it’s up and built, and once we get to opening, that one will be an amazing addition to that area of Dubai. We’ve also signed in Jeddah today a Swis sotel Living with our partners there (it’s the first one in the Kingdom), and again, it’s going to be a super project.” Willis also proudly points out that Accor is also in the process of opening new properties in the region- Sofitel Dubai The Obelisk recently opened its doors, while the Grand Mer cure Dubai Airport is also set to be welcoming guests very soon as well. All of this serves to reiterate Willis’ statement about Accor still moving ahead with its long-term plans, despite the uncertainly that surrounds the market at this time. “Yes, the climate is tough, but also, it’s still developing, it’s still working forward,” Willis says. “A lot of our investors have also got a long-term view on how they invest… And while COVID-19 is impacting us today in 2020 and into 2021, they are look ing far more forward, and I’m sure organizations like that will continue to develop as we move forward.” I feel that this forward- thinking outlook is something that Willis also possesses, especially as he shares with me his almost buoyant expec tations about the future of the sector he’s built his career in. “The industry will recover,” he declares. “At some point, the pandemic will come to a close. The desire to travel will kick back in, the desire to do business face to face will kick back in. The outlook today is extremely uncertain, but I really, really believe that the hotel sector will rebound fully. And with the introduc tion of a change to the current landscape (and that probably comes in the form of vaccine), I think we’ll see an immedi ate spike in return to travel. You can see key destinations around the world being heav ily, so heavily searched, on Google- I read some statistics recently on that saying Dubai was at the forefront of it, which is wonderful to see… So, change is coming. People are looking, they are search ing, and again, where people were being super cautious only two months ago, that is starting to turn a corner.” Of course, Willis’ convic tion about this stems in part INNOVATOR Mark Willis, CEO, Accor MEA
25 November 2020 / ENTREPRENEUR.COM / from the way his company and its leadership has been navigating the COVID-19 crisis so far- while there have been plenty of twists and turns, Accor’s focus on what actually makes up its busi ness -i.e. their people, their guests, and their owners- has helped it ride this wave all the same. “If you’re trying to devise a very detailed, very structured, strategic plan to deal with COVID-19, I would question that one, because the dynamic changes so much,” Willis adds. “Focus on the key elements of your business, see how you can as sist those elements, and [use that to] try and get yourself through this very difficult period- and I think Accor has done a good job in that.” At this point, I ask Willis to share his advice for people leading businesses through the times we currently live in, and he replies with two pointers almost instantly. “Honesty over everything, number one,” he says. “I made a career out of being honest. And that may sound like quite a strange comment- everybody will tell you, ‘Oh, I’m totally honest all the time, and I speak my mind.’ But there have been times where me being honest and me speaking my mind in a transparent way has not been good for our business. I can assure you that has not been 100% welcomed all the time. But, I still believe in honesty over everything- we need to be transparent when there’s a need to convey a message. You know, people inherently have no issue conveying a positive message. But, no more so than in the last six months, there’s been a lot of times where we’ve been needing to convey a negative message or a troubling mes sage, whether it be with our owners, or with our team members, etc., and that’s when you have to stand your ground, take a breath, and convey that difficult message. Do that in the right way, and people will always respond to you, if you’re giving what you feel is one, the correct message, but also, what is the solution attached to that, in your opinion.” Willis follows this piece of advice with a note on leaders needing to surround them selves with the best people they can find. “Too many times, I see under-utilization of the skillsets of the people around leaders,” he says. “For me, one thing’s for sure: I’m the leader of Accor here in the Middle East and Africa, I’m the CEO, but I can tell you nine times out of ten, I am, for sure, not the smart est person in the room. And when you get these super specialist guys that I work with, and as I mentioned be fore, I try and surround my self with the most fabulous people I can, you know, many, many times, you are better off asking their opinion, and them feeling comfort able telling you’re wrong, or taking the discussion in a different direction, than you being an overbearing CEO or leader. And that’s been especially the case for me these last six months, where I really value the fact that I’ve got a very transparent rapport with my team. And there’s been many occasions where a dialogue has taken us in a totally different direction that I thought it would- and I don’t believe that makes me any less of a leader. So, yeah, trust in the people around you.” Indeed, when it comes to his personal strategy when leading Accor in the Mid dle East and Africa, Willis is someone who believes in a collaborative approach when it comes to working with those around him. “My leadership philosophy has always been one that is cen tered around my team and the people that I work with,” Willis explains. “Invariably, I’m not that good, so I put a huge amount of effort in surrounding myself with the most wonderful people that I can. And I’m really good at that- and I think you can see that in the team that’s been assembled at Accor. And that philosophy has remained, even through this crisis.” And that is a mantra that that will stand him in good stead for the long run, Willis says- and judging by what he has accomplished with that strategy so far, I think it’s safe for all of us to take his word on that. “The industry will recover. At some point, the pandemic will come to a close. The desire to travel will kick back in, the desire to do business face to face will kick back in.” THE ROAD TO RECOVERY | MARK WILLIS, CEO, ACCOR MEA Brasserie Boulud, Sofitel Dubai The Obelisk
26 / ENTREPRENEUR.COM / November 2020 D ubai has a habit of thinking what’s next, and its Expo 2020 Dubai, the first World Expo to be held in the Middle East, Africa, and South Asia region, as well as the first to be hosted by an Arab nation, is no exception. Some months ago, one would have thought that the teams behind this event already had too much on their plates- they were, after all, preparing Dubai for the 173 busy days when the Emirate would become a global stage for business and also welcome tens of millions of visitors. Then, the coronavirus pandemic happened, and news soon broke that the event had been postponed to happen between October 1, 2021 to March 31, 2022. This was a new reality where fast adjustments were essential, and the Expo 2020 Dubai team soon proved they are that up to the task as well. But despite all of what has happened, one thing about Expo 2020 Dubai hasn’t changed- and that is the event’s focus on enabling entrepreneurs and startups from around the world to realize their dreams in Dubai. And that is evident with Expo 2020 Dubai’s plans for what it will transform into after the event closes, which is District 2020, an integrated community that will continue to support the acceleration of Dubai’s development as an ecosystem for innovators, families, artists, and pioneers. “Once doors close on the Expo in March 2022, the site will transition into District 2020 and evolve into a mixed-use community and in novation ecosystem that will contribute to the growth of Dubai’s innovation economy,” says Tala Al Ansari, Director, Scale2Dubai, District 2020. “While our timelines may have shifted as a result of the pandemic, our commitment to enabling startups and global innovators to scale their businesses in Dubai within District 2020 has only strengthened.” According to Al Ansari, Dubai is already a global hub for startups and entrepre neurs, and the Expo is aiming to support Dubai and the UAE’s proactive approach to helping small and medium enterprises and the important role they play in the country’s resilient, innovation-driven economy. This is where District 2020’s Scale2Dubai comes into the picture. It is a global entrepreneur program that offers startups and small businesses with a proven track record in their countries an opportunity to scale up in Dubai, starting with a soft landing in the Emirate and easy set-up within District 2020’s eco system. The program also enables local startups and small businesses to prosper as part of an ecosystem that focuses on INNOVATOR BUILDING A LEGACY/ The Director of Scale2Dubai, District 2020 is leading a global initiative aimed at growing Dubai’s innovation economy TALA AL ANSARI by TAMARA PUPIC >>> District 2020 office
>>> BUILDING A LEGACY | TALA AL ANSARI, DIRECTOR, SCALE2DUBAI, DISTRICT 2020 IMAGES COURTESY DISTRICT 2020
28 / ENTREPRENEUR.COM / November 2020 specific industries important to the UAE economy, and through collaboration with global organizations. It is expected that Scale2Dubai will quickly become an innovation ecosystem that will enable collaboration between startups, SMEs, Fortune 500 companies, R&D centers, educational institutions, and accelera tors. “For example, if you are a startup or small business in logistics technology, there is a chance you could be placed in close proximity to Siemens Logistics Headquarters at District 2020. We would facilitate your connections, and rewarding collaboration is likely to fol low,” Al Ansari says. “If you are a startup or small business in artificial intelligence (AI) or internet of things (IoT), what better place to be than close to Terminus Technologies’ Artificial Intelligence and Internet of Things research and development centre at District 2020? An accelerator will also be established within the centre, providing IoT and AI startups with programs to help nurture their growth.” The idea of an entrepreneur program was initiated by the Expo 2020 leader ship and executed by the District 2020 team, with Al Ansari saying that her team spent a considerable amount of time conducting benchmark studies and understanding the needs of entrepre neurs locally, regionally, and globally. From a personal perspective, Al Ansari says her role was to use these findings to design and launch the program at the end of 2019; however, due to the impact of COVID-19 on their timelines, her team will now be commencing the full applica tion process for Scale2Dubai in the third quarter of 2021. “This gives us more time to tailor the program, and create more opportunities for startups in sectors that have become even more relevant and pivotal during the past few months,” Al Ansari says. “It has also given us the opportunity to partner with global, regional and local organizations that are best placed to promote our program among their networks in their respective countries.” The revised timelines have also given interested startups and small businesses more time to prepare for registering on the District 2020 website once applica tions open. “As a strong believer in de sign thinking, I’m making sure we speak to entrepreneurs and stakeholders to understand the challenges they now face, and how their needs have changed,” she adds. “We developed the Scale2Dubai program from informed conversations and will continue to use these discus sions to make sure we’re shaping a pro gram that will be as relevant and benefi cial as possible.” At the moment, high on Al Ansari’s agenda is attracting the best businesses to Dubai. “Our world is very interconnected, and so we all compete in one big marketplace,” she says. “This adds to the challenge and complexity of attracting the best entrepreneurs and innovators out there. It is for this reason that we place great emphasis on ensuring District 2020’s innovation ecosystem is inclusive, while also curating the right types of businesses that meet our criteria and will add value to each other and to our ecosystem. Our world is also incred ibly dynamic. This has taught me how to be comfortable with change, and how to continuously adapt.” Scale2Dubai is an equity-free program in which successful applicants will benefit from two years of free working space, two-year visas, an accommodat ing business set-up, subsidized urban living, access to special rates for service providers, and more. “We are confident that after two years, Scale2Dubai entre preneurs will choose to remain part of District 2020 as permanent tenants,” Al Ansari says. “They’ll be able to continue enjoying the advantages of being based in Dubai, the benefits of their surrounding innovation ecosystem, and being part of a community. Our ultimate goal is to give businesses a platform from which they can successfully scale, and the confidence to go on to bigger things.” All interested applicants are requested to register to a dedicated website (more details can be found on https://www.district2020. ae/scale2dubai), after which all entries will undergo a screening process where priority will be given to applicants that align to District 2020’s key industries and technologies, as well as to businesses that are in the scale-up stage, preferably those in Series A funding rounds. “At the next step, the technical aspects of ap plications will be assessed by a panel of judges,” Al Ansari says. “This panel will be made up of verified experts in each of INNOVATOR “We developed the Scale2Dubai program from informed conversations and will continue to use these discussions to make sure we’re shaping a program that will be as relevant and beneficial as possible.” District 2020 office rooftop
29 November 2020 / ENTREPRENEUR.COM / the industries and technolo gies. The judging panel will use multiple criteria to score the startups and small busi nesses, before finally choosing the applicants to join the program. We are an ambitious and inclusive program that will accept hundreds of global and diverse applicants in each annual cohort. So, I highly en courage entrepreneurs to take advantage of this opportunity.” Al Ansari explains that, since building awareness is key to the success of any new program, her team has been ensuring that entrepreneurs from all over the world hear about Scale2Dubai through multiple channels. “We have been building strategic partnerships both locally and internationally with organiza tions that understand our vision and mandate. We are working closely with multiple partners, chambers, and ac celerators to help us scout the most promising entrepreneurs that would benefit from both the Scale2Dubai program and being based at District 2020. They are collaborating with us to channel these startups towards the program, while identifying the specific sup port they are looking for.” In order to strengthen their offering, the Scale2Dubai has already partnered with Dubai SME and the Mohammed Bin Rashid Innovation Fund (MBRIF) to supply District 2020 with a pipeline of high- potential startups and small businesses, helping eligible companies join Scale2Dubai. “Specifically, Dubai SME will work on identifying innova tive national projects from the members of its Hamdan Innovation Incubator, as well as from the different countries participating in its Innova tion Attraction Program, to strengthen District 2020 as a platform for startups to grow regionally and access international markets,” Al Ansari explains. “MBRIF, as an accelerator initiative launched by the UAE Ministry of Finance, will also provide financial support to help local and international startups and small businesses looking to grow.” Prior to working with Expo 2020 Dubai, Al Ansari’s career was focused on guiding the process of transformation and innovation in various national corporate settings. “Innova tion is my passion, and so I see myself continuing to enhance the culture of innovation in the UAE,” she says. “I started by developing an innovation and transformation program in the oil and gas industry, and became a certified lateral thinking trainer to build inno vation capabilities.” When Al Ansari joined the Expo 2020 team in the International Participants Department, she began working on an international scale, and was responsible for signing up both countries and international organizations to take part in the expo. “I now curate an in novation ecosystem for Dubai and empower global entre preneurs as a part of District 2020, which is Expo 2020’s future and legacy,” she adds. “I’m really enjoying the di verse route my role is carving out for me, which also involves building partnerships and engaging with stakeholders across government, academia, accelerators, incubators, and service providers.” An addi tional incentive for Al Ansari is the fact that her work is aimed at generating positive change for Dubai through the curation, execution, and stra tegic development of District 2020’s innovation ecosystem. “Supporting my nation in hosting the world and devel oping an innovation ecosystem is what makes Expo 2020 such a privilege,” she says. “Alongside all this, I want to help make an impact globally by supporting the growth of worldwide entrepreneurs through Scale2Dubai.” According to Al Ansari, Dubai has already been lead ing the way when it comes to giving startups and small busi nesses a platform to grow, in addition to also being a leader in most of District 2020’s focus sectors and technologies. However, the city’s resilience during the past few months has shown how important -if not indispensable- innova tion is to contending with and overcoming the challenges posed by crises, such as pan demics, she notes. In her own work, she applies the skills of agility, program management, and stakeholder management on daily basis. “However, what is more important than skill is passion,” Al Ansari says. “I believe that my passion for innovation and my constant quest to learn is what will really ensure I succeed. It’s about adjusting, experiment ing, learning, and never set tling.” But when it comes to achieving success in entrepre neurship, there is no straight forward formula, she says. “Globally, we have not reached a consensus on what ‘success’ means for those two areas,” Al Ansari explains. “However, I embrace this challenge in my career as it gives me room to get creative and to contribute to knowledge creation. Also, our world is very intercon nected, and so we all compete in one big marketplace. This adds to the challenge and com plexity of attracting the best entrepreneurs and innovators out there. It is for this reason that we place great emphasis on ensuring District 2020’s innovation ecosystem is inclu sive, while also curating the right types of businesses that meet our criteria, and will add value to each other and to our ecosystem.” “We are working closely with multiple partners, chambers, and accelerators to help us scout the most promising entrepreneurs that would benefit from both the Scale2Dubai program and being based at District 2020.” BUILDING A LEGACY | TALA AL ANSARI, DIRECTOR, SCALE2DUBAI, DISTRICT 2020
30 / ENTREPRENEUR.COM / November 2020 GADGETS AND DOODADS THAT YOU MIGHT’VE MISSED OUT ON, SOURCED BY A TECH AFICIONADO. YES, IT’S OKAY TO WANT THEM ALL… AND NO, IT’S NOT OUR FAULT. POWER UP PORSCHE DESIGN ACER BOOK RS IMAGES COURTESY PORSCHE/ACER | HUAWEI | APPLE TECH SHINY Porsche and Acer have teamed up to give you powerful processing and impeccable design in one device. The Porsche Design Acer Book RS, which comes with an all-metal chassis, has a diamond-cut CNC- machined 3k carbon fiber cover that gives the device a distinctive touch. It is fitted with the latest 11th Gen Intel Core i7 processor as well as an NVIDIA GeForce MX350 GPU, while weighing in at just 1.2kg. Porsche Design Acer Book RS features a 14- inch FHD IPS touchscreen covered with a layer of Antimicrobial Corn- ing Gorilla Glass. It also has backlit keys, 16 GB of RAM, and a battery that lasts 17 hours. The battery also supports fast charging- plugging it in for 30 minutes gives you four hours of usage. This striking and extremely portable device rounds out with smart features such as secure fingerprint logins via Win- dows Hello and Wake on Voice from Modern Standby. Porsche Design Acer Book RS Porsche Design Acer Book RS
31 November 2020 / ENTREPRENEUR.COM / #TAMTALKSTECH 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. See her work both in print regional publications and online on her blog where she discusses everything from how a new gadget improves day-to-day life to how to coordinate your smartphone accessories. Visit theglobalgazette.com and talk to her on Twitter @TamaraClarke. #TAMTALKSTECH | GADGETS AND DOODADS THAT YOU MIGHT’VE MISSED OUT ON BEST MATES HUAWEI MATE 40 SERIES Huawei takes another leap further ahead of its competition with the release of its Mate 40 Pro and Mate 40 Pro+. Both models incorporate the world’s first five-nanometer 5G system-on-chip (SoC), the Ultra Vision Cine Camera system, and the iconic Space Ring Design on the back of the smartphones. Pushing the boundaries on aesthetics, the devices sport a small front camera cut-out enabling 3D Face Unlock, an Ultra Vision Selfie Camera, and Smart Gesture Control. Huawei Mate 40 Pro and Huawei Mate 40 Pro+ are powered by the Kirin 9000 Series, which is fully equipped for 5G and multi-tasking. The camera system on the Huawei Mate 40 Series has been co-engineered with Leica. The Ultra Vi- sion Selfie Camera supports 4K video capture with Steady Shot, while the XD Fusion HDR Video ensures balanced exposure, even with extreme lighting situations. Huawei Mate 40 Pro also features a Periscope Telephoto Camera to support 10x hybrid zoom and 50x digital zoom, and Huawei Mate 40 Pro+ takes it further with a dual-tele- photo camera system that enables 20x hybrid zoom and 100x digital zoom. Both devices are IP 68 dust and water resistance, and feature Smart Gesture Control making it easy for you to take your new mate anywhere. The all new Apple iPad Air features an all-screen design with a larger 10.9-inch Liquid Retina display, cam- era and audio upgrades, a new integrated Touch ID sensor in the top button, and the powerful A14 Bionic for a boost in performance. The new screen brings together 3.8 million pixels and advanced technologies, including full lamination, P3 wide color support, True Tone, and an anti- reflective coating for an improved viewing experience. iPad Air is compatible with Magic Keyboard, and its floating design features a built-in trackpad, the Smart Keyboard Folio, and new Smart Folio covers, as well as the second generation Apple Pencil, which attaches magnetically to the side of iPad for easy pairing, charging, and storing. Its camera technology has been upgraded too. iPad Air includes a 7MP front-facing FaceTime HD camera, and it now features the same 12MP rear camera used in iPad Pro for higher resolution photos and 4K video capture. The new design is complete with stereo speakers in landscape mode, a USB-C port comes for up to 5Gbps data transfer, Wi-Fi 6 performance, and 60%-faster LTE connectivity, along with A14 Bionic, making it the most powerful iPad Air ever. RAISE THE BAR APPLE IPAD AIR Apple iPad Air Huawei Mate 40 Pro
32 / ENTREPRENEUR.COM / November 2020 CULTURE TRAPPINGS IMAGE CREDIT MB&F | ASCOTS & CHAPELS | DOLCE&GABBANA | BOUCHERON ‘TREP TRIMMINGS THE EXECUTIVE SELECTION F rom better goods to better wardrobe bests, every issue we choose a few items that make the approved executive selection list. In this issue, we present our picks from the Ascots and Chapels AW20 collection, a refined timepiece that could be your next splurge, and more. BEYOND FIRST IMPRESSIONS MB&F Designed by Stephen McDonnell for MB&F, the Legacy Machine Perpetual EVO may seem just like a fancy sports watch at first glance, but it is much more than that. As many MB&F enthusiasts know, many of the brand’s creations leans more toward the style of haute horology, and less towards that of conventional sport watches. The 44 mm case is lightweight and contains durable zirconium between slabs of sapphire. It is redesigned to showcase openness and clarity, thanks to its new Super LumiNova on its dials. Also fitted between the case and the movement is a new monoblock shock protection called FlexRing, created to help protect the 581 components of the movement from the effect of an active lifestyle. With dial colors available in orange, blue, and black, it also has a screw-down crown and 80 meters of water resistance, a first for the brand. With MB&F only manufacturing 15 pieces of the Legacy Machine Perpetual EVO in each color, this is a collector’s timepiece. mbandf.com Legacy Machine Perpetual EVO
33 November 2020 / ENTREPRENEUR.COM / 'TREP TRIMMINGS | THE EXECUTIVE SELECTION IF THE CROWN FITS DOLCE&GABBANA Concocted by Daphné Bugey and Nathalie Lorson, the K by Dolce&Gabbana eau de parfum is inspired from the earthy, rugged landscape of Tuscany in Italy. A woody spicy fragrance for men launched just this year, it opens with a fusion of zesty orange, lemon, and cardamom essence, while at its heart, notes of cardamom, clary sage, and lavender add a touch of sweetness. Finally, at its base, touches of cedar, patchouli, and vetiver are intensified by Nagarmotha wood. Encased in a lacquered glass of deep blue, the iconic crown atop the bottle is especially noteworthy- it’s a scent fit for royalty. Dolcegabbana.com COOL COMFORT ASCOTS & CHAPELS British luxury tailoring house Ascots and Chapels is infusing traditional tailoring techniques with modern design principles in its Autumn Winter 2020 collection. Aptly called Heritage Redefined, the collection gives a new look for the three-piece suit, a classic piece showcasing sophisticated panache that has comfort taking precedence as well. For dapper looks that will easily fit in today’s wardrobes, casual separate and smart tailored pieces are also included. The mix and match options bring in versatility to the pieces, thereby ensuring that the personality of the wearer shines. ascotsandchapels.com EDITOR’S PICK BOUCHERON Having arrived just in time for fall, we’re enthusiastic about the new blue edition of Boucheron’s Quatre collection. Introduced in 2004, the range has become a timeless unisex icon with a sculptural look that is constantly being reinvented. Its four rings represent the brand’s architectural codes, and the result: a range of pieces to suit all moods, while exploring variations of gold, texture, and colors, inspired by a graphic motif. Whether as a pendant, a tie-necklace, or as a ring, wear it with a ruffled silk blouse over denim to bring out the contrast between a straight jean and a touch of jewelry. Experiment with color variations, or accessorize with stacked bracelets and rings, and yes, it looks great paired with all shades of denim- after all, it is the inspiration for this new line! boucheron.com
The new-generation –Ford Expedition, sets the benchmark yet again for the full-size SUV segment. The model redefines its category with its all-new design inside and out, its unique smart technologies, best in class power and fuel economy, and more expected towing capability than any other full-sized SUV. The new generation Ford Expedition is the smartest, most capable and most adaptable Expedition ever. SMARTEST EXPEDITION EVER The Expedition offers more driver-assist technologies than any other full-size SUV. In addition, an all-new high-strength, aluminium-alloy body and redesigned ADVERTORIAL More power, capability and smart technology than ever Ford Expedition 34 / ENTREPRENEUR.COM / November 2020
ADVERTORIAL high-strength steel frame form the founda tion for Expedition’s rugged off-road and strong towing capabilities. Thanks to the use of advanced materials, the Expedition saves up to 136 kg, and the team reinvested that weight savings ev erywhere it counts to give customers more technology and convenience features than ever before. More than 40 features and driver-assist technologies new to Expedition help make the journey as enjoyable as the destination. These include class-exclusive enhanced active park assist to easily pull in and out of parking spots, as well as available 360-de gree camera technology to help customers see more around their Expedition for easier parking. On the road, Expedition’s lane-keeping aid is designed to reduce unintentional drifting of the vehicle outside its intended lane, while adaptive cruise control with stop-and-go allows drivers to set a cruising speed, using radar and camera technology to monitor traffic to maintain a set distance between vehicles. Its collision avoidance detection system helps drivers avoid other vehicles or pedes trians, while available Blind Spot Information System helps monitor blind spots outside the driver’s immediate view. In addition, Expedition offers available new connectivity technologies and convenience features, including: • Wireless charging: Expedition was Ford’s first vehicle to feature this system, which allows customers to place compatible mobile devices on an integrated charging pad conveniently located in the front centre console • Dual-headrest rear seat entertainment system provides a next-generation video experience that allows passengers to view their media on either of two video screens or hand-held devices • SYNC® 3, with both Apple CarPlay™ and Android Auto™ capability, allows drivers to stay connected on the move. And with the new Expediton, SYNC® 3 debuts its off-road maps for the Middle East • Power for passengers in every row, with four 12-volt power points, six USB chargers and a 220-volt power outlet that lets pas sengers stay charged and connected • 12-speaker B&O PLAY premium audio system perfected by acoustic engineers for a sound experience even audiophiles will appreciate • Advanced cargo manager with an adjustable shelf behind the third row lets owners create a storage space customised to whatever they’re hauling; even when parked on a hill, cargo won’t roll out the back of Expedition when the liftgate is opened • Panoramic Vista Roof spans two rows, a feature not offered by any competitor MOST CAPABLE EXPEDITION EVER Powered by a 3.5-litre EcoBoost® engine with standard Auto Start-Stop plus a class exclusive new 10-speed automatic trans mission, the all-new Expedition offers best- in-class fuel economy and power, with up to 400 horsepower and 610Nm torque avail able. A newly-available electronic limited- slip differential on models with Intelligent 4WD enables improved off-road capability by sending power where it’s needed. The Ford Expedition also offers the best towing capability of any full-size SUV, together with features such as Pro Trailer Backup Assist, which makes backing up a trailer as easy as turning a knob. Plus, an available hands-free liftgate makes loading cargo easy. MOST ADAPTABLE EXPEDITION EVER The Expedition has a roomy, flexible interior. With seating for up to eight people and their gear, this full-size SUV makes modern family adventures more comfortable during short and long trips alike. The Expedition is the first full-size utility to feature a sliding second-row seat with tip-and-slide functionality, providing easy access to the third row without the need to first remove a child safety seat. Once in the third row, even adults will appreciate more legroom and reclining seats. Expedition’s second- and third-row seats can be quickly folded flat with the push of a button to open up a cargo area wide enough to handle 4x8-foot sheets of ply wood and other gear, depending on cargo weight and load distribution, even with the liftgate closed. 35 November 2020 / ENTREPRENEUR.COM /
36 / ENTREPRENEUR.COM / November 2020 UNESCO launches an international competition to rebuild a global icon in Iraq Architects and designers invited to reimagine Mosul’s historic Al-Nouri Complex CHALLENGE / ACCEPTED I t was once described by 10th century Arab geographer Al-Muqaddasi as “the metropolis of this region,” but that is almost certainly not the impression one may have of the city of Mosul in Iraq today. Given the troubles and turmoil it has faced over the last couple of years, Mosul’s history and heritage seem to have been relegated to the background on account of the damage and destruction the city has undergone, but that looks set to change now thanks to a new project being spearheaded by the United Nations Educational, Scientific, and Cultural Organization (UNESCO), in collaboration with the governments of Iraq and the United Arab Emirates. CULTURE DESIGN by ABY SAM THOMAS | AL-NOURI COMPLEX IMAGES © UNESCO / MOAMIN AL-OBAID THIS ARTICLE WAS ORIGINALLY PUBLISHED IN DESIGN MIDDLE EAST
37 November 2020 / ENTREPRENEUR.COM / CHALLENGE ACCEPTED | ARCHITECTS AND DESIGNERS INVITED TO REIMAGINE AL-NOURI COMPLEX
38 / ENTREPRENEUR.COM / November 2020 To understand the relevance of this particular initiative, a look at Mosul’s past is neces sary. While history records the establishment of Mosul’s Old City to have happened in the seventh century B.C., the city rose in prominence around the 12th century A.D., when it was under the rule of the Zangid dynasty. Founded by Imad Ad-Din Zangi, the Zangi dynasty ruled over Mo sul for 130 years, which has since been referred to as “the golden years” of the city. One of the highlights of this period was the construction of the grand mosque of Mosul, the Al-Nouri Mosque, situated at the geographical heart of Mosul, with one of its many claims to fame included its leaning minaret, which led to it becoming known as the Al-Hadba (Arabic for “hunch back”) Minaret. The area of the mosque, which, in follow ing years, included a prayer hall, a madrasa, and other buildings, has since been referred to as Al-Nouri Com plex, and it became a hall mark of the Old City, which also included the churches of Al-Sa’a and Al-Tahira, both of which were iconic structures in their own right. With it being a place where people of diverse cultures and faiths peacefully coexisted with each other, it’s easy to see why this city -whose name trans lates to “the linking point” in Arabic- came to be a definite source of pride for and rep resentative of the diversity of the Moslawi people, a popu lation that includes Arabs, Kurds, Tukens, Armenians, Assyrians, Yazidis, Shabahkis, Mandeans, Kawliyans, Circas sians, and several other ethnic groups. It is this symbol of the his toric city of Mosul that was severely damaged in the summer of 2017, when the terrorist forces of the Islamic State of Iraq and the Levant (ISIL, or Da’esh), which had occupied the city in 2014, was defeated and forced to leave by a coalition led by the Iraq government and its in ternational allies. Amid their retreat from Mosul, ISIL left a series of explosives in the Al-Nouri Complex, which, be sides destroying the mosque and its minaret, left the loca tion mostly covered in rubble and thus inaccessible as well. With the monument being emblematic of Mosul, ISIL’s destruction of the Complex was described by the then Prime Minister of Iraq Haider Al-Abadi as the militant group’s “declaration of de feat,” but it’s safe to say that its loss also weighed heavily on the minds of the country’s people. Indeed, this is the impression I got when I talked with Dr. Hassan Nadhem, the current Minister of Culture of Iraq, on the relevance of this landmark to not just his coun try, but to the entire Mid dle East region as well. “Its importance stems from the fact that it represents two im ages,” Dr. Nadhem said. “The first one shows the depth and the multitude of the Iraqi leg acy, especially given that this area includes the churches of Al-Sa’a and Al-Tahira in the Old City, in addition to the many traditional buildings near the Mosque. The second image represents a painful picture of the modern age, embodied by ISIL in the most horrific way, as they tried to murder the identity and his tory of Iraq.” Dr. Nadhem’s response is essentially an explainer of why UNESCO launched the “Revive the Spirit of Mosul” initiative in 2018. This pro ject, whose goal was declared to be “to foster reconciliation and social cohesion in Mosul and its Old City,” aimed to both restore and reconstruct its iconic landmarks, which includes the Al-Nouri Mosque and its Al-Hadhba minaret, as well as the churches of Al-Sa’a and Al Tahira. While UNESCO led this project in collaboration with the Gov ernment of Iraq, “Revive the Spirit of Mosul” also had the backing of the Government of the United Arab Emirates (UAE) as well, with it pledg ing more than US$50 million to this endeavor. In order to understand the UAE’s inter est in and support for this initiative, I spoke with H.E. Noura Al Kaabi, UAE Min ister of Culture and Youth, who pointed out to me that CULTURE DESIGN
39 November 2020 / ENTREPRENEUR.COM / this particular project’s importance is tied not just to Iraq, but the Middle East and the world as a whole as well. “Iraq’s culture and history have played a key role in our collective history, and the destruction of the Al-Nouri Mosque is an attack on our shared cul tural heritage,” she explained. “To see the project completed, and Al-Nouri Complex used as a vibrant community space for worship, education, and con nection will serve as a strong example of hope, resilience, and coexistence for Iraq, the region, and the world.” Al Kaabi also noted how rebuilding Mosul in the model of the culturally diverse ideals that’s embedded in its history sends out a clear message in terms of the positive principles that the Middle East stands for, as opposed to the negative hues it is often painted with in the larger global landscape. “The city of Mosul has, for thousands of years, been a commercial and cul tural link between the north, south, east and west,” Al Kaabi explained. “One of the world’s most ancient cit ies, its origins date back to seventh or sixth century BC. As such, the legacy of the city is primarily defined in terms of its centuries of pluralism and cultural coexistence. The Al-Nouri Mosque has been a significant landmark for the Old City of Mosul, and a symbol of its cultural identity, since the 12th century A.D. Therefore, its importance has to be seen, both in terms of the city’s architectural history and cultural history. Although it underwent many renovations over the years, it was de stroyed only when Da’esh captured the city. Rebuilding it and restoring it to its original glory is an act of resistance to terrorism. It is particularly relevant in the context of the Middle East, as it sends out a clear message that the mayhem spread in the region by ex tremists and terrorists will not only be defeated militarily, but the destruction they cause will be undone, and the divisive ideas they propagate will be countered.” “Al-Nouri Complex, after reconstruc- tion, will be a cultural, humanistic memorial of the war that Iraq waged for the sake of humanity.” Dr. Hassan Nadhem, Iraq Minister of Culture CHALLENGE ACCEPTED | ARCHITECTS AND DESIGNERS INVITED TO REIMAGINE AL-NOURI COMPLEX >>>
40 / ENTREPRENEUR.COM / November 2020 CULTURE DESIGN
41 November 2020 / ENTREPRENEUR.COM / LOCATED IN THE NORTH-EASTERN SECTOR OF THE OLD CITY, WITH AN AREA OF APPROXIMATELY 11.050 SQ., AL-NOURI COMPLEX INCLUDES MAIN LANDMARKS, SUCH AS THE AL-HADBA MINARET AND AL-NOURI PRAYER HALL, A NUMBER OF SECONDARY BUILDINGS AND AN EXTENSIVE OPEN AREA. CHALLENGE ACCEPTED | ARCHITECTS AND DESIGNERS INVITED TO REIMAGINE AL-NOURI COMPLEX
42 / ENTREPRENEUR.COM / November 2020 This idea of getting people to come to gether for the greater good of not just Iraq, but the world as a whole, seems to be a definite undercurrent with UN ESCO’s latest undertaking as part of the “Revive the Spirit of Mosul” initiative. It has just launched a global competi tion (see more details on https://unes. co/mosulcompetition) that is invit ing architects, engineers, companies, or joint ventures from all around the world to come up with a design for the new Al-Nouri Complex. According to Ernesto Ottone R., the Assistant Direc tor General for Culture at UNESCO, the contest, which will be accepting sub missions until spring of next year, seeks to rehabilitate the Complex in a man ner that’s reflective of Mosul’s storied heritage, while making use of new and modern techniques to weave it into the city’s current fabric. “One of UNESCO’s missions is to protect culture in emer gency situations, and build on its power to promote peace-building, recovery, and reconciliation,” Ottone said. “Such action is fundamental to achieving sustainable development and fostering security. It was therefore natural for our organization to be at the bedside of the Moslawi, and support them in their ef forts to rebuild this Al-Nouri Complex, without which they could not recover totally from the trauma of the destruc tion. It should also be added that one of our guiding principles is to facilitate a consultative approach to ensure that all steps taken towards the rebuilding is in line with the expectations of the local communities and authorities. This is why the decision to organize an inter national architectural competition was taken and agreed upon in April 2020 by the project’s steering committee in which local authorities, community representatives, and religious leaders are represented.” Ottone went on to explain the factors that will govern how UNESCO and its partners will determine the winners of this contest. “The competition will be guided by a set of clear values that “Iraq’s culture and history have played a key role in our collective history, and the destruction of the Al-Nouri Mosque is an attack on our shared cultural heritage.” CULTURE DESIGN H.E. Noura Al Kaabi, UAE Minister of Culture and Youth
43 November 2020 / ENTREPRENEUR.COM / UNESCO and our Iraqi coun terparts would like to see re flected in the design,” he said. “Situated at the heart of the old city, Al-Nouri Complex is surrounded by beautiful 18 and 19th century late Otto man buildings. Thus, we hope that architects and design ers will see the opportunity to offer an integrated design inspired by such a unique and rich architecture of Mo sul’s Old City. Moreover, and most importantly, the project should harmoniously fuse the old –the remains of the com plex’s own historical build ings- with its newly designed ones, and all together with the landscaping design. We also hope that the architec tural proposals will provide a space for the community, which is a place of sharing knowledge, and hosting cul tural and religious manifesta tions. We would like to see designs that that respect the heritage environment, and convey a sense of peace and tranquility for worshipers. Of course, we also advocate for an environmentally friendly design that prioritize local constructive cultures and lo cal artisans’ know-how.” This sentiment is echoed in Nadhem’s vision for what he believes the people of Iraq would want the Al-Nouri Complex to signify with re spect to its redesign. “Iraq’s interest in reconstructing Al- Nouri Complex has two rea sons,” he said. “The first rea son is related to Iraq’s interest in preserving its legacy, which can be considered to be both a national and an international one. The second reason is related to Iraq’s war against terrorism that has caused the death of many brave Iraqi people. This war was not only to maintain the safety and security of the country, but it was also a triumph of peace, culture, and coexistence of society and life with all its meanings. Al-Nouri Complex, after reconstruction, will be a cultural, humanistic me morial of the war that Iraq waged for the sake of human ity. In addition, this Complex is for the citizens of the city who are conscious about the legacy and the inveter ate history of their city.” The UAE’s Al Kaabi agreed with this statement from her Iraqi counterpart, saying, “The Al-Nouri Mosque was used by Da’esh to announce their ‘caliphate’ in 2014, and de stroyed by them three years later before they were pushed out of Mosul. These actions cast a shadow on a mosque that for 800 years had stood as a symbol of coexistence and inclusion, in a city where the sound of church bells and the call to prayer were often heard at the same time. It is espe cially important during these times when we see all around us divisive narrative intent on pitting groups of people against each other, to counter this narrative with a stronger, louder message of resilience, hope, and peace.” “WE HOPE THAT ARCHITECTS AND DESIGNERS WILL SEE THE OPPORTUNITY TO OFFER AN INTEGRATED DESIGN INSPIRED BY SUCH A UNIQUE AND RICH ARCHITECTURE OF MOSUL’S OLD CITY.” Ernesto Ottone R., Assistant Director General for Culture at UNESCO CHALLENGE ACCEPTED | ARCHITECTS AND DESIGNERS INVITED TO REIMAGINE AL-NOURI COMPLEX >>>
44 / ENTREPRENEUR.COM / November 2020 An independent, international jury will determine the winners of this competi tion, with Ottone saying that it will be composed of experts in the key domains relating to this initiative, and selected by UNESCO and the Government of Iraq. According to him, the jury will look at “the extent to which the proposal accomplished an almost seamless in tegration with the rich architecture of Mosul’s Old City, the capacity to which it achieved the integration of its own remaining and reconstructed buildings with its newly designed ones as well as the landscaping of the entire complex, the potential of the design to create an oasis of peace and tranquility for wor shipers and a vibrant vital center for the community, and the capacity of the project to envision an environmentally conscious design.” Meanwhile, Al Kaabi noted how an international competition of this nature would allow for innovative and creative ideas from all corners of the globe to participate in the rebuilding of the Al-Nouri Complex, while also in creasing global awareness on the themes of cultural preservation and restoration, the impact of terrorism on our culture, and the importance of international co operation in the cultural sphere. “As for the values and ideas we hope the participants to bear in mind, it is im perative to focus on retaining all the tra ditional elements of the original struc ture, including use of the remains of the historic landmark,” Al Kaabi added. “The participants should consider using traditional materials and modern tech niques, to allow for harmonious integra tion between the Old City’s architecture and the new design. The new buildings will make use of colors and materials in accordance with those used in the Old City of Mosul. In short, we expect traditional architectural typologies with subtle modern re-interpretations. There “To see the project completed, and Al-Nouri Complex used as a vibrant community space for worship, education, and connection will serve as a strong example of hope, resilience, and coexistence for Iraq, the region, and the world.” CULTURE DESIGN
45 November 2020 / ENTREPRENEUR.COM / are other functional aspects we invite the participants to pay attention to, such as accessibility for people with disabilities.” From Nadhem’s standpoint, he reiterated the importance of the Al- Nouri Complex to the people of Iraq, and how its design and development needs to be done keeping that aspect firmly in mind. “In the many meetings we had with UN ESCO, we have set the plan for the reconstruction of the Al-Nouri Complex,” he said. “We have confirmed two im portant basic points, which relate to preserving the inherent traditional counte nance and the architectural, cultural identity of the struc ture, and setting a clear time frame for plan for the recon struction plan.” With the UNESCO compe tition now getting underway and open for entries, one waits with bated breath for what hopes will be a slew of innovative, inspir ing ideas that bring back to life one of Mosul’s most loved landmarks. And it’s not just about Iraq- as Al Kaabi points out, the UAE’s involvement in this UNESCO project is testament to the significance this initiative has for the wider Middle East, and, of course, the world in its entirety. “The UAE pledged to join the initiative not only because of UNESCO’s international credibility in the cultural field, but because the pro posal was about more than rebuilding cultural sites,” Al- Kaabi said. “It put Moslawis at the center, and aimed at reviving the identity, spirit, heart, and soul of the com munity... The project fully aligns with our vision for a moderate, harmonious social fabric for our region, and is reflective of not only our fraternal ties with Iraq, but also of our cooperation with international organizations, and the importance we place on preserving humanity’s shared heritage.” CHALLENGE ACCEPTED | ARCHITECTS AND DESIGNERS INVITED TO REIMAGINE AL-NOURI COMPLEX
46 / ENTREPRENEUR.COM / November 2020 RETHINKING BUSINESS A little over six months into the global COVID-19 crisis and its many repercussions, there are plenty of signs that business leaders across the MENA region are now getting a grasp on which facets of their business models work well, and which ones are too rigid and outdated for a constantly changing world. A detailed and honest discourse on this “new normal” was the main focus of the latest Entrepreneur Middle East Round Table presented by du, which was hosted as a virtual event in October this year. Moderated by Entrepreneur Middle East Editor in Chief Aby Sam Thomas, this edition of this gathering of promi- nent business leaders from the MENA region featured Hany Fahmy Aly, Execu- tive Vice President of Enterprise Business at UAE-headquartered telecom, du; Roberto Croci, Managing Director for the Middle East and Africa at Microsoft for Startups, a free, global program dedicated to helping B2B startups successfully scale their companies; and Padmini Gupta, co-founder and CEO of Rise, a Dubai- headquartered fintech startup supporting migrants by facilitating their remittance payments between their home and host countries. Among the umpteen topics brought up during the hour-long event, the issues of effective communication and building trust in the era of remote working, and how physical social distancing measures have influenced hiring processes stood out as major talking points. Gupta, for instance, spoke candidly about how the sudden change of her company’s entire business plan caused by the global lock- down in April was actually a blessing in disguise when it came to talent acquisi- tion. “It’s been a powerful breakthrough,” she said. “Our teams have become much more effective, and we’ve expanded the talent pool. Now the talent pool is not just the UAE. It’s anywhere across the globe.” Indeed, while remote working has become quite the norm in many compa- nies by now, Microsoft has taken a step further by announcing in early October presented by ROUND TABLE The latest edition of the Entrepreneur Middle East Round Table presented by du emphasized the importance of pivoting business models through the course of the COVID-19 crisis by AALIA MEHREEN AHMED ROUNDTABLE Hany Fahmy Aly, Executive Vice President of Enterprise Business at UAE- headquartered telecom, du
47 November 2020 / ENTREPRENEUR.COM / that its employees can permanently work from home. The tech giant unveiled a “hybrid workplace” concept for its employees once its offices reopen post pandemic, allowing them to work from home for less than 50% of the working week. The new announcement by Microsoft also entailed that managers will be able to approve permanent remote work should employees request for it. Address- ing this decision, Microsoft for Startups’ Croci noted that, ultimately, what should matter most to a company is performance management and taking good care of its employees. “I’d say the last six months have taught us a lot of lessons on how to efficiently take care of people,” he said. “Even though we’re a technology company, the takeaway has been that it is not [only] about technology. Having employees that have the possibility to permanently work from home doesn’t mean that employees are not going to gather. Whenever there are situations where it works better to have small gath- erings, and have this physical touch that technology is not going to replace, we’re going to do that.” The social distancing measures and practices have also resulted in businesses noticing their consumers increasingly shifting towards e-commerce and digital platforms. Speaking about this shift in consumer demand towards more digital services, Aly presented the “phygital” term to explain that a large percentage of demand for various types of products and services requires a mix of physical and digital approaches. “Everyone now has an app [for different services], and business owners have responded to that because they want to survive,” he said. “Last week, I read about how [Dubai-based mall] Dragon Marthas started its own online platform. This in itself is a huge statement about how demand has shifted significantly.” But for Gupta’s fintech startup, the most significant change was the fact that phys- ical cash remittances were no longer safe or feasible options for people across the globe. That’s what led Rise to recently an- nounce the launch of a new digital service Xare, a UAE-developed app for migrant workers that eases the process of sending remittances back to their home countries. Xare was created because this sudden shift towards a more cashless society pre- sented an opportunity for Gupta and her team. “Remittance houses were closed,” she recalled. “That was one of the other breakthroughs that came through for us during COVID-19: how can we give people who have always been using cash access to the digital marketplace? And so Xare was our brand-new product.” Croci, on the other hand, mentioned that for the team at Microsoft a big- ger concern was to adapt quickly to the sudden, catalyzed shift towards more digitization. “From a technology perspec- tive, the situation accelerated our deci- sions because many more organizations have been looking to adopt technology at an even faster pace,” he said. Almost daily changes in government regulations during the COVID-19 related lockdown have also been an unprecedented shift “THE FOCUS SHOULD BE MORE ON ‘HOW CAN WE DISRUPT THE CUSTOMER EXPERIENCE?’ THINKING LONG-TERM SHOULD BE MORE ABOUT RE-IMAGINING THE EXPERIENCE WITHOUT PUTTING TECHNOLOGY FIRST.” RETHINKING BUSINESS >>>
48 / ENTREPRENEUR.COM / November 2020 in the landscape for many businesses- however, Gupta stated that those have only catalyzed a move towards greater business innovation in the UAE. “We have received a lot of support from our investors during the last six months, and I also know that all the Emirates are working with accelerators and startups to build innovation within the system itself,” she said. “For companies of our size, it is extremely helpful that we are getting incentives from governments as well as from organizations that work with governments to help drive innovation at a faster rate. That’s one of the reasons I feel like our products are more in demand. Our digitization of financial services has seen an amplification over the last few months because people see that they actually need it.” However, Croci raised an important point by restating that while the shift towards greater use of technology is an important disruption, the focus shouldn’t solely be on that. “It’s not about dis- rupting the industry per se,” he said. “The focus should be more on ‘how can we disrupt the customer experience?’ Thinking long-term should be more about re-imagining the experience without putting technology first.” Aly agreed, noting the impact of the pandemic on small businesses in particular. “I think businesses need to make tough deci- sions,” he advised. “It can be that you need less retail space now, and that you need to move more towards building an online presence. It [the quick and flexible decision-making] has to revolve around your business model, but not everyone has the right mindset to pivot. That is why we’re seeing some people closing their companies, while others are shifting and growing faster than ever.” A big part of the discussion also revolved around the uncertainty of the future ahead. On how their thoughts and philosophies on leadership in the new landscape have changed, the speakers had different experiences to share. “Things are not going back to the way they were, and people who don’t like change will have to accept it and move on,” Gupta said. “There will be more digital-first consumers. We’re a digital-first company anyway, but that also means we’ll have to supply all the demand that’s there for us now. The second is taking advantage of a very distributed world – we no longer have to hire only within where we are. So, take advantage of what is available to you because that’s part of looking at the potential of the current situation and amplifying your reach.” She also touched upon the importance of showing empathy and compassion as leaders. “Within our own organization, if someone is asking for a job that isn’t available, we scale, train them and have a little more pa- tience,” she said. Croci agreed that leadership will inadvertently now shift towards a more human-centric approach. “There is a lot of talk about authentic leadership, but you should also add effectiveness to that authenticity,” he said. “It is not just about doing a good job, but who you are as a human being. Is there clarity of pur- pose that you bring to the team? Can you keep the blame, but pass the credit to the team?”Aly added to this point by touch- ing upon the fact that there are many visceral fears that people are dealing with right now. “These days, people are juggling many different fears at the same time, so it’s important to be compassion- ate and empathetic,” he said. “We also have to be open-minded and adaptable to changing circumstances. As a leader, this collaborative type of leadership is crucial.” As the discussion drew to a close, the significance of constantly changing and adapting business models in order to survive, and even thrive, amidst a crisis remained the most important conclusion of the event. Aly’s final piece of advice was honest and succinct. “Hope for the best, but prepare for the worst,” he said. “Be agile and move faster. Scenario plan- ning is dead, now you have to be able to constantly shift, perhaps even on a daily basis. We all would have responded to this crisis in a better way if we had had this mindset from the beginning of it.” Of course, it remains to be seen how many business leaders and entrepreneurs inculcate such a mindset going forward- and how many will emerge with flying colors because of it on the other side of this pandemic. Watch this space. “For companies of our size, it is extremely helpful that we are getting incentives from governments as well as from organizations that work with governments to help drive innovation at a faster rate.” Padmini Gupta, co-founder and CEO of Rise Roberto Croci, Managing Director - MEA, Microsoft for Startups ROUNDTABLE
50 / ENTREPRENEUR.COM / November 2020 1/ React and adapt to unprecedented circumstances affecting your market The COVID-19 pandemic and its resulting measures weak- ened many markets at a time when business was already fragile. Companies needed to quickly adapt, especially in retail, through bolstering their e-commerce platforms to provide a viable alternative for the in-store experience. We fully embraced this reality and quickly pivoted funds and brains into our e-commerce strategy, and opening up a new state-of-the-art, 30,000 sq. m. e-commerce warehouse in the Jebel Ali Free Zone to future- proof our business. When necessary, quickly assessing and responding to how you can serve your customer in a new way is fundamental to long- term success. 2/ Be proactive rather than reactive if you want to succeed and overcome challenges Building on our first tip, we discovered that whenever we went with our gut feeling at the onset of a challenge and listened to our customers (what they need, and how), we managed to overcome what initially looked like a threat. At Brands For Less (BFL), we have become known for our in-store experience, where we aim to offer value for customers through exciting merchandising displays and an ever-changing selection of designer goods at discounted prices. Therefore, during the early stages of the COVID-19 pandemic, rather than panick- ing when some of our retail locations had to close, or refuse to adapt, we acknowledged the fact that we needed to recreate and enhance the BFL experience online through fun, immersive visuals and promotions, as well as through a new rewards program, dubbed “Smile” to be launched in November. Staying in sync with market demands and future trends, having contingency plans, and being willing to change course at any given moment is integral. 3/ Learn by trial and error to perfect your approach Without risk, there is no reward, and we have learned over the years that it’s ok to get some things wrong. The lessons are always greater than the losses, and you will be bet- ter poised for greater success. Being innovative means making mistakes sometimes, so we encourage all businesses and entrepreneurs to experiment by trying things that may not have been done before, as long as they make sense for your busi- ness vision. 4/ Customer experience is vital to survival and leadership When we first started out, there were no other off-price retailers in the Middle East. Throughout our company’s 20-year his- tory, we’ve always had to make sure we keep our customer at the heart of everything we do. How can we excite them and make them want to return to our stores, or go online? We’ve done this mainly through inte- grating rapid-fire merchandise purchasing and inventory turn- over into our retail model creat- ing a treasure-hunt experience, so customers are always excited to explore our new assortment in-store and online. Find out which customer insights your business can tap into, and cre- ate a positive benefit or experi- ence around them. 5/ Look into the diverse expectations of customers from different cultures Brands For Less has grown to have 54 stores in 135 cities from the Middle East to Europe. We’ve also acquired busi- nesses with different origins like Tchibo (German), Mumuso 2020 marks the 20th anniversary of the Brands For Less Group in the UAE- two decades after we took on the challenge to become the biggest off-price retailer in the region. We had big plans for this year- some were achieved, and others were not, because of the impact of the COVID-19 crisis. Just like everyone else, we could have never pre- dicted the exceptional events that were about to occur this year, including the coronavirus pandemic and its economic, social, and financial repercussions. It’s been a time of great reflection, and we have taken it as an opportunity to further refine our retail business for the future, as well as to look back on the biggest achieve- ments and lessons over the last 20 years. Here are our top tips and lessons for navigating and growing your business in the long-term: ‘TREPONOMICS PRO STAYING AHEAD LESSONS LEARNED GROWING THE BRANDS FOR LESS GROUP ON ITS 20TH ANNIVERSARY IN THE UAE by TOUFIC KREIDIEH Toufic Kreidieh, Founding Partner and CEO, Brands for Less Group IMAGES COURTESY BRANDS FOR LESS
51 November 2020 / ENTREPRENEUR.COM / (Korean) and Muy Mucho (Spanish), in addition to introducing new in-house concepts such as Homes For Less and Toys For Less. With so many different cultural backgrounds from a partner and customer perspective, we have to make sure that we take our research seriously to determine what products are best for each market, as well as the best way to position Brands For Less and the other affiliated concepts there. We’re still true to our brand es- sence, but mindful and respectful of these different needs. Use data mainly through customer feedback to address and excel your business approach in existing and new regions. 6/ Value is not just about low price- it’s about quality, price, and experience We believe that being an off-price retailer offering items at low prices has not been the only factor to our success. Customers still want quality and the feeling of getting a bargain being associated with a unique experience, which is why we’re excited to offer well-known designer brands to them at a more accessible price, as well as to introduce new exciting brands that fit their expectations. For example, when we introduced Tchibo (the German premium coffee, home items, and apparel lines) into some of our stores in 2004, it made a significant impact, as our customers loved the new selections, which were sold out very quickly. We have also rolled out a cafe in some of our bigger stores to elevate the shopping experience for customers, enabling them to relax and further enjoy their in-store experience. 7/ Keep your brand identity intact across different markets When you’re scaling your business and opening new stores in different areas and markets, you need to ensure your brand image and identity stays intact. We want our customers, whether visiting a Brands For Less store in Dubai or Oman (where we will be opening a new store in towards the end of 2020), to have that same experience of discovery and enjoy- ment in shopping for high quality goods at discounted prices. It also comes down to training your staff to uphold your brand’s vision in a relevant way and ensure the customer’s experience is the same in all our stores around the world. 8/ Build a strong business foundation before expanding Every business owner needs to create a “skeleton” for their company- that is your key offering and a business model that makes you unique. Once you’ve grown and established a loyal customer base, then you can expand- as long as its relevant and ties in together. We grew Brands for Less steadily from 2000 to 2004 before we made our first acquisition of Tchibo, as we were confident of our brand offering, lead- ing retail position, and ability to make it even better by expanding and bringing in new partners without diluting our brand. We also make sure our customers can have the Brands For Less experience across our different in-house offerings like, Toys For Less and Homes For Less. 9/ Be data-driven to improve your decision-making process Research and feedback is paramount for business success. Thanks to emerging technologies, gathering data has never been as easy. Take advantage of this, because data is crucial for informing your business decisions, from making new product selections based on past results or trending searches, to looking ahead to future growth opportunities. 10/ Support innovation to stay ahead of the competition While we are the largest off-price retailer in the Middle East, we need to continually innovate on a micro and macro levels to keep our customers engaged and ensure we stay in the lead. For example, we’ve achieved this through expanding our first Brands For Less into other category offshoots in homeware and children/toys and through acquisitions/partnerships to enter new markets. While your business needs to stay true to its central offering, customers always want new experiences, so it’s important to be curious and think of ways to keep moving and improving. STAYING AHEAD | BRANDS FOR LESS Toufic Kreidieh is an entrepreneur who is the Founding Partner and CEO of the Brands for Less (BFL) Group, an off-price retail business that provides customers with expensive luxury brands at a fraction of the cost, spanning clothing for women, men, and kids, accessories, toys and home decor products. BFL was founded by Kreidieh and Yasser Beydoun in 1996, opening their first store in Lebanon. In 2000, BFL opened its first store and business headquarters in the United Arab Emirates. Kreidieh has played an integral role in expanding the BFL Group portfolio beyond the original Brands for Less platform, through acquiring and creating different concepts like Toys For Less, Homes For Less, Tchibo and MUMUSO. Today, BFL Group has a large retail presence both online and with over 50 outlets in countries including the UAE, Bahrain, Lebanon, Kuwait, Malta, Spain, and Saudi Arabia. brandsforless.ae “WE DISCOVERED THAT WHENEVER WE WENT WITH OUR GUT FEELING AT THE ONSET OF A CHALLENGE AND LISTENED TO OUR CUSTOMERS, WE MANAGED TO OVERCOME WHAT INITIALLY LOOKED LIKE A THREAT.”
52 / ENTREPRENEUR.COM / November 2020 T he COVID-19 pandemic has taught us many lessons, but the one key takeaway I would like to emphasize is the impor- tance of resilience. It was the resilience -and courage- of our drivers and teams at my com- pany, TruKKer, the MENA region’s largest on-demand truck aggregator, that ensured all our 15 offices remained operational during the crisis. This helped us not only to weather the storm, but actually to grow our business as a reliable service provider for our clients. Growing the logistics and supply chain business in the time of lockdowns, border closures, and demand destruction may sound impossible, but the current chal- lenging circumstances have actually worked in our favor. Microsoft CEO Satya Nadella recently noted that the world has seen two years’ worth of digital transfor- mation in just two months. This dramatic pace of change has impacted not just technology companies, but also those in sectors that have traditionally been slow to transform, such as the logistics and road freight industry. The pandemic has jolted organizations in our corner of the world into accelerat- ing their digital transformation journeys, and this is precisely where we stand to gain. Our business model, at its core, is about consolidating smaller suppliers into one digital platform. I have often said that TruKKer aspires to become the first freight exchange with digitized transactions for our users, and the COVID-19 pandemic has given us the opportunity to accelerate on that vision. Over the last few months, we have focused our energies on acquiring market share, by helping those most impacted by the pandemic- smaller transporters who were struggling or even considering pausing their business in the face of mounting financial difficulties. TruKKer managed to acquire key clients, and even though the overall demand for trucking might have come down temporarily, we continued to grow in an extremely large sector. Across the world, the road freight sector is highly fragmented- large fleet owners account for less than 5% to 10% of the total supply of trucks, while the rest is made of individual owner-operators and small fleet companies. We doubled down on empowering small transporters and individual operators with advanced tools and technology interfaces that improve service quality and reliability. At the same time, the business accelerated customer acquisition to constantly feed more to the platform. TruKKer was one of the earliest to take precautionary steps while the pandemic was still getting closer to the region. I remember briefing our teams across three markets in March 2020, and urging them to brace for what was coming. No one knew how to deal with it, and anxiety levels were high all across. We have also been one of the early organizations to preach and practice optimism. We cheered ourselves in June and took a contrarian approach, saying that the bad times were behind us and that we needed to stop hiding from the virus, and to instead take necessary precautions. In June, we were back to rapid hiring across all our stations and markets. This strategy worked wonders for us. March 2020 was our best-ever month of operations pre COVID-19, while in the following months, we experienced some dip in transaction due to large-scale lock- downs. However, we reported a typical v- shaped recovery with July crossing March numbers, and August putting us back on a 20+% month-on-month growth. The larger picture The logistics sector is, to some extent, pandemic-proof. Our basic human needs are food, shelter, and clothing, and all of those require the wheels of supply chain to function. Our operations did not come to a complete standstill because of the ‘TREPONOMICS PRO KEEP ON TRUCKING GROWING A LOGISTICS AND SUPPLY CHAIN BUSINESS THROUGH THE COURSE OF A GLOBAL CRISIS by GAURAV BISWAS
53 November 2020 / ENTREPRENEUR.COM / pandemic, as we continued to transport essentials such as pharmaceuticals, health care equipment, food, and consumer goods. The next few months and years will be very interesting and fulfilling for the road freight sector in the region. We expect regulatory focus on improving asset qual- ity, stricter environmental and performance norms, better safety standards, and all of these create a stronger case for technology based operators like TruKKer to thrive. Our data sciences constantly provide us key parameters that drive utilization improve- ments– a key competitive advantage over traditional fleet owners or brokers. TruKKer is generating thousands of data points every day that are creating multiple monetiza- tion opportunities. This will be complemented by our deal- making abilities and collabora- tion with asset owners, and financing institutions. As for the road ahead, I believe that organizations that innovate and adapt will emerge as sector leaders in our post-pandemic future, while “old-school” businesses will be forced to innovate, or they will get challenged. The mobility sector too is at a crossroads, and we have seen an increas- ing number of consumers and businesses moving towards digitization of all processes and functions. I am delighted to see how quickly the region is adopting technology, with Saudi Arabia leading the charge at both public and pri- vate sector led innovation. The pandemic has made our clients more price sensi- tive, and this has resulted in increased traction for digital platforms like TruKKer that deliver efficiencies based on shared economic principles. It has also highlighted the need for automation at all levels in the road freight sector, and we see a huge opportunity for technology-driven businesses. Though in this sector, there cannot be a one-size-fits-all solution- the technology that meets the needs of a truck driver will be very different from what works for a freight forwarder, or a warehouse operator, or an e-commerce fulfilment business. I believe “cool” tech, like artificial intelligence, machine learning, blockchain, internet of things, and all other buz- zwords will continue to pro- gress, but those that produce immediate commercial advan- tages will thrive. I believe that autonomous driving tech will first see large-scale adoption in the trucking business, before it becomes mainstream in cars. To sum up, I foresee efficient and technology-based op- erators, like TruKKer, that are also adequately capitalized, to benefit the most in the months ahead, as the world emerges from the shadows cast by the pandemic. But despite all this, we have to take care to not forget the human touch in our busi- ness. The pandemic has been most devastating in its impact on livelihoods. TruKKer has attempted to be most empa- thetic and balanced. We did not undergo any large-scale redundancies, and our teams stood by us to share the pain. Recently, we distributed food to thousands of truckers, facing hardships during the Islamic festival of Eid. TruKKer has also ramped up its investment in supply infrastructure and driver wel- fare to ensure that the job of a trucker, which is one of the hardest jobs, is duly recog- nized and appreciated. In the coming months, TruKKer will announce major initiatives and programs focused on drivers and the creation of infrastruc- ture for enhanced cargo safety and security. At the end of the day, I strongly believe that any organization is only as good as the people working for it. TruKKer is built of a group of high energy, ambitious hus- tlers who do not give up, and constantly innovate their path to success. STAYING AHEAD | BRANDS FOR LESS Gaurav Biswas is the founder and CEO of TruKKer, the MENA region’s largest on-demand truck aggregator. He completed his post-graduation in structural engineering in the UK and later completed an MBA. Gaurav had a 12-year international consulting career focused on transaction advisory of billion-dollar real estate projects across the UK, North America, and the Middle East, before founding TruKKer in 2016. High commercial acumen, a fearless personality, high risk-taking abilities, and hard work shape his professional life. Biswas is also the President of Fruit Capital LLC, developers of The Meadows, 158 acres mixed-use master plan in Dallas, Texas and President of Crown Partners LLC, a real estate holding company in the US east coast. trukker.com “WE EXPECT REGULATORY FOCUS ON IMPROVING ASSET QUALITY, STRICTER ENVIRON MENTAL AND PERFORMANCE NORMS, BETTER SAFETY STANDARDS, AND ALL OF THESE CREATE A STRONGER CASE FOR TECHNOL OGY BASED OPERATORS LIKE TRUKKER TO THRIVE.” Gaurav Biswas, founder and CEO, TruKKer IMAGES COURTESY TRUKKER
54 / ENTREPRENEUR.COM / November 2020 P lus Venture Capital (+VC) is a newly launched early-stage tech startup fund for the MENA and its diaspora, and it’s be ing led by two familiar names in the region’s startup ecosystem. Sharif El-Badawi and Hasan Haider, the former Managing Partners of 500 Startups’ MENA fund (500 Falcons) are behind the new US$60 million fund that aims to target 120 invest ments over the next three years. At this point, it’s fair to wonder whether now is the right time to start up a new investment venture given the impact of the ongoing COVID-19 pandemic on the region’s economies, but the co-founders’ confidence in their enterprise stems from their thorough knowledge of the ecosystem in which they plan to operate. For instance, according to Haider, the sustainability of a thriving startup ecosystem hinges on several key pil lars, such as the availability of talent and funding, accessibility to market and customers, and foundational infrastructure and regulatory frame works to make doing business easier for small tech startups looking to grow fast- and they are all well in place in the MENA region. “The region has gone through a number of infantile phases over the past 20 years,” El- Badawi adds. “From the occasional tech startup in the UAE or Jordan, such as Bayt and Jeeran, respectively, to a sort of renaissance phase over the past five years. Moreover, within just the past few years, coinciding with the launch of our previous fund and many others, the region has seen the number of investors spike from just a handful in 2015, to over 200 institutional investors investing in the region, with approximately 25% of those investing from the outside in, and that’s not including angel investors.” MONEY VC VIEWPOINT The co-founders of the newly launched Plus Venture Capital (+VC) on how they expect their US$60 million fund to boost and bolster the region’s startup ecosystem by TAMARA PUPIC Shaking things up SHARIF EL-BADAWI / HASAN HAIDER IMAGES COURTESY +VC | PLUS.VC
55 November 2020 / ENTREPRENEUR.COM / Indeed, the MENA is fast emerging as a key startup ecosystem in the global landscape, with several startup exits, such as the acquisition of Careem by Uber in 2019 and the acquisition of Souq by Amazon in 2017, putting the region in the spotlight. It has a posi tive macro story, the +VC co-founders explain, with a largely young, highly connected market of over 400 million people with a similar culture and lan guage. “We’re now entering the ado lescent stage of the investment land scape in the MENA region, whereby dozens of funds are now raising their second or third funds, invest ment managers are starting to move around and do new things, many have learned from rich past experiences, and founders are succeeding, exit ing, failing, and recycling into other startups,” El-Badawi says. “Dozens of new funds are being formed to serve the region, and more institutional limited partners, development funds and family offices are opening up in the space. We’re very bullish at this next stage, particularly coming out of the COVID-19 pandemic with more mainstream awareness of the benefits and adoption of technology.” In line with that, the COVID-19 pandemic has also put a light on deeper issues affecting the startup investment landscape in the region. “We have seen deal activity slow down significantly since the start of the pandemic, and remain slow until now,” Haider explains. “Investors are reticent to deploy precious capital, and are correctly evaluating startups and their founders more closely on the metrics that matter most, with an overlay of whether the startup’s busi ness model and sector is ‘COVID-19 proof’.” He adds that many startups have shown a V-shaped recovery in their metrics from the moment mar kets reopened. “Both founders and investors have had to take stock and become more grounded in their strat egies,” El-Badawi adds. “For founders, this means going back to fundamen tals of building a business, focusing on the bottom line, and not just so-called vanity metrics. Investors have either become bearish, and are holding out for new investments, or trying to spot companies that are and will thrive in a post-COVID world. A return to first principles around cash- flow, unit economics, and runway has taken its rightful seat at the center of analysis, and will hopefully leave a lasting mark on founders and inves tors going forward.” SHAKING THINGS UP | PLUS VENTURE CAPITAL (+VC) “BOTH FOUNDERS AND INVESTORS HAVE HAD TO TAKE STOCK AND BECOME MORE GROUNDED IN THEIR STRATEGIES.” “A return to first principles around cash- flow, unit economics, and runway has taken its rightful seat at the center of analysis, and will hopefully leave a lasting mark on founders and investors going forward.” >>>
56 / ENTREPRENEUR.COM / November 2020 A better quality of founders who are focused, passionate, and driven has been emerging from the pandemic, Haider confirms. “From a tech eco system perspective, we think that the most likely outcome is that the de mand for technology solutions across all sectors will be catapulted forward, and acceleration driven by a youthful fervor and acute memory of the losses and lessons learnt in 2020,” he says. “We can only believe this will be posi tive all around, helping to bring more tenacious founders to the surface, as well as better and more experienced investors and more support from cor porations and governments.” Grasping the lessons learnt from the pandemic, such as to always consider founder’s grit and resilience, will lead the +VC co-founders to lean towards founders who are mindful of their bottom line, not just hyper growth. “We’re strong believers that our primary role is to help founders succeed through the provision of our time, our network, and, of course, our money,” El-Badawi adds. “But we also hold high the notion that we are here to serve the founders, to share in their optimism to do something bold, something valuable that will ultimately provide immense value in returns. We also believe that more investing, more fre quently, along with heavy dry powder reserves will not only help regional founders start out on the right foot, but maintain a proper trajectory through their Series A rounds.” El-Badawi also says that they make it a point to seek out and track female founders as a core part of what they do at +VC. “We’re also trying to do our part in nurturing, bringing more female investors into our own team, and otherwise. Also, we expect to continue co-investing with the great female investors in our ecosystem, of which there are several amaz ing ones. Some of the women-led funds even specifically train new female investors, and solely invest in female founders. I’d say compared to other regions in the world, taking the ecosystem’s age into account, the MENA region is poised to be one of the strongest in terms of gender representation.” And Haider has numbers to confirm this- over the past five years, 24% of their invest ments in over 175 companies had at least one female founder. “A number that may be far from the ultimate goal, yet is among the highest in the world,” he notes. “Our own team gender ratio has held pretty steady at 50%, with females representing all levels of seniority. We’re fortunate to work and interact with numerous women-led startups and investors, and believe many venture firms in the region do have females on their investment teams. The region is also home to several female-led venture funds across Jordan, Egypt, Lebanon, Morocco, Kuwait, UAE, KSA ,and so on. In addition, we’ve had a strong history of women-led angel groups, entrepreneur support organizations, governmental departments that all play a part in fostering a healthy entrepreneurial ecosystem.” Haider and El-Badawi have more than 35 years of combined investing and operating experience. In addition to completing over 200 transactions together, each of the co-founders brings in a specific set of skills. Haider is an entrepreneur and former investment banker who worked in venture capital in Silicon Valley and MENA, and established one of the first angel investment groups in the region, while El-Badawi is a seasoned serial entrepreneur, operator, and investor, with experience of working at high profile internet companies such as Google. Being complementary in their backgrounds, yet highly relat able to each other’s work history, is the added value they bring to the table, El-Badawi says. “My personal bias as a previous serial entrepreneur and operator is that the best VCs are ones that have been in the founders’ shoes before, and have gone through the ups and downs of building tech nology companies. These types mostly have engineering and science back grounds, or marketing and sales back grounds. However, venture investing is ultimately a financial service, and therefore, the other type of investor needed is one that comes with the financial or legal perspective and expertise.” Haider adds that, as ven ture capitalists, they aspire to invest early and often with certitude in the founders and stick to their commit ment: to follow global best practices and standards, keeping terms simple and fair, while wiring the investment as fast as possible, and to spend their time and resources post-investment nurturing the companies to their next stage. “We need more investors who believe in the upside, and share in the optimism of the founders they finance, rather than only be risk- focused, trying to get the best deal for themselves in a single transaction. Investors should help protect founder and shareholder interest, not trying to control and take over their compa nies,” Haider concludes. MONEY VC VIEWPOINT “THE MENA REGION IS POISED TO BE ONE OF THE STRONGEST IN TERMS OF GENDER REPRESENTATION.”
58 / ENTREPRENEUR.COM / November 2020 W ith the new openings of the Abraham Accord between Israel and the UAE, we are seeing the early stages of the Gartner Hype Cycle play out at the nexus of global diplomacy and busi- ness. With a flurry of travel by VCs and entrepreneurs on both sides to generate new business together, the possibilities for collaboration across all sectors are seemingly endless and expectations are high. It will take years, if not decades, to achieve a steady state of foreign invest- ment and trade between the UAE and Israel. There will be notable successes early on, likely followed by disputes over deals gone wrong, and followed by questions in the next three to five years over the right long-term partnership model. To achieve long-term success in the relationship and avoid the notori- ous “trough of disillusionment” in the coming years, the UAE and Israel should focus on a few fundamental principles of commercial diplomacy: 1/ Let cultures meet in the middle For understanding cultural differences in business decision making, INSEAD professor Erin Meyer’s classic book The Culture Map provides a terrific resource. As complex negotiations begin, there may be differences in behavior on each side arising from cultures of communication. As with all good relationships, both sides must be prepared to meet in the middle, somewhere between inshallah and hayom. As Yagub AlSerkal, founder of YAS Investments, put it: “Ultimately, we will be guided in this relationship by new generations who want peace and prosperity, who see more commonalities than differences, and who take the time to understand one another.” Israeli negotiators are notoriously di- rect and blunt in their delivery. This is borne of a mindset from Israel’s found- ing that tomorrow is not a certainty, and therefore, be productive today (hayom). This culture has benefitted the Israeli people and Israeli industry, though sometimes it can feel like you are nego- tiating with a bulldozer. Yoni Heilbronn, founder of IL Ventures, tells us: “While Israelis often can be overstated in re- spect of business opportunities, we will need to cut down on the ‘chatter,’ and demonstrate real value as we are culti- vating new relationships.” ‘TREPONOMICS PRO Matthew L. McGrath is the founder and Managing Director of Emissary Holdings, a London based global advisory firm working with institutional investors to resolve their international disputes and political risks, with a focus on time-value of recovery and preserving reputation. emissaryholdings.co.uk Getting down to business after the Abraham Accord between Israel and the UAE by MATTHEW MCGRATH Inshallah, hayom Washington DC, USA - September 15, 2020: Benjamin Netanyahu, Donald Trump, Abdullatif bin Rashid Al Zayani, and Abdullah bin Zayed Al Nahyan attend the Abraham Accords ceremony in The White House. IMAGE © SHUTTERSTOCK
59 November 2020 / ENTREPRENEUR.COM / 2/ Find the “members clubs” to buffer new relationships It is a general rule of network science that there will be more trust in a bilateral relationship if there are more relationships in common and stronger relationships in common. For this reason, a UAE-Israel Chamber of Commerce has already been announced, to bring together leading businesses from both sides and facilitate a community with a higher basis of trust. The analogous UAE-India Business Council, which was set up in 2015 when the bilateral partnership between the two countries was renewed under Abu Dhabi Crown Prince H.H. Sheikh Mohamed bin Zayed and India Prime Minister Narendra Modi, has since helped to open channels of communication for new business, regulatory advocacy, and addressing problematic business cases between the nations. Other investor forums with a track record in the UAE and re- lationships in Israel may play a prominent role in creating mutual networks of trust. The Milken In- stitute has held very high profile conferences in Abu Dhabi in the past three years, and it is known to have terrific connectivity in Is- rael as well, so that may also be a natural forum for new business. 3/ Structure partnership incentives, not just transactions As evidenced in the UAE’s strategic partnerships with India and China, resilience is built not by focusing on one transaction, but by creating long-term partnerships that will include various deals over time. The partnership approach creates opportunity cost to subverting the terms of earlier deals, in that future value will be lost. A long-term view similarly helps to de-risk new investments or relationships, because it allows more time to get comfortable with the new partner. Being in a rush leaves room for cutting corners and further disputes, which can place a damper on the whole bilat- eral relationship. Observing the UAE’s strategic partnership with India, the inter- est to see growth in trade and investment across a range of sec- tors has incentivized both sides to take on the hard issues when certain deals inevitably do not go as planned, as seen in the tel- ecommunications and real estate sectors. It takes long-term com- mitment to work through the ups and downs. 4/ Trust but verify: deploy virtual due diligence to check hidden risks Because the track record of UAE/Bahrain and Israel firms working together is in its infancy, conducting due diligence on a potential partner will lack certain comparators that might already exist for example in the UAE- India or UAE-China relationships. Therefore, it is worth investing time and resources into virtual due diligence, to understand whether your experience of the prospective partner or deal comports with other forms of data that can be aggregated. “Trust but verify” are words to live by, particularly in new and unfamiliar circumstances; corporate intelligence will help to reduce uncertainty and risk. INSHALLAH, HAYOM | GETTING DOWN TO BUSINESS AFTER THE ABRAHAM ACCORD BETWEEN ISRAEL AND THE UAE T hese are exciting, unpredictable times in the Middle East and all over the globe. On one hand, the COVID-19 crisis poses economic threats and exposes political weaknesses, testing the will and capability of individuals, companies, and governments to adapt fast to a new, rapidly changing reality. As tech entrepreneurs, we are quite familiar with the need to act fast and with determination, towards scalable and sustainable solutions. It is at the core of our work. On the other hand, after decades of segregation and fear, a new word is now spreading between the Mediterranean and the Gulf: hope. This word is now inspiring many in Israel and the United Arab Emirates, during an economically challenging period for both countries, for the region, and for the world. The Israel-UAE accord has the potential to lead to successful collaborations between the startup ecosystems of the two countries, for a number of reasons. First and foremost, Israel and the UAE are two nations that have a lot in common. Both have relatively small populations, as well as modest geographic territories, in comparison to most of their neighbours. Both societies are driven by innovation, and thrive on the usage of new technologies. Both countries are considered relatively open and inviting to foreigners. But most importantly, both economies are very well versed in the language of international business. MOVING FORWARD, WITH HOPE How the Israel-UAE accord can enable the countries’ startup ecosystems to benefit from each other by YAIR LEVY “TRUST BUT VERIFY” ARE WORDS TO LIVE BY, PARTICULARLY IN NEW AND UNFAMILIAR CIRCUMSTANCES; CORPORATE INTELLIGENCE WILL HELP TO REDUCE UNCERTAINTY AND RISK. >>> >>>
60 / ENTREPRENEUR.COM / November 2020 ‘TREPONOMICS PRO 5/ Use strong “prenuptial agreements” to encourage strong “marriages” It is an adage that “good fences make good neighbors,” and so do clear agreements make good business partners. Particularly when dealing across borders and native languages, it is as important to know how the parties would unwind a relationship as it is how a relationship would grow. Having clear, respectful conversations about exit clauses and dispute resolution clauses sets clear expectations for what happens in the event that one side is not happy. Having a business plan of action in the event of dispute helps investors to reduce risk and uncertainty. Importantly, dispute resolution clauses should call for governing law and jurisdiction outside the UAE or Israel. For example, the London Court of International Ar- bitration, International Chamber of Commerce in Paris or Bahrain Chamber for Dispute Resolution are all high-quality institutions . A progressive dispute resolution clause will also require a period of commercial diplomacy or direct negotiations prior to commence- ment of any legal proceeding. Beyond hype The sectors for collaboration are seemingly endless at the moment, with entrepreneurs on both sides wanting to partner across tech- nology-focused “4.0” industries, all the way through to expanding trade in dates, a most ancient food of the region. While there is considerable excitement, a flurry of cross-border Zoom calls, and a surge in visits from Herzliya to ADGM, the real fulfillment of the Abraham Accord will take many, many years to see its potential realized. The success of the com- mercial aspects of the new opening with Israel will rely on long-term commitments to effective com- mercial diplomacy, with investors and their emissaries ensuring best practices for partnership de- velopment. This way, we will get beyond the Hype Cycle, and make real long-term progress. 60 >>> An example of how the above factors can come into play, and how the startup ecosystems in both Israel and the UAE can benefit as a result of the recent accords, is through Salaryo, a fintech company that I have the privilege to lead, while also being one of its original founders. To date, Salaryo, is the first Israeli startup to publicly announce an investment from a UAE-based fund. Salaryo provides small business owners, entrepreneurs, and freelancers with instant access to business loans and working capital in the United States, helping them to cope with one of the most challenging financial periods of our times. Now that we have made our first step in the UAE’s institutional investor landscape, we can continue to explore new strategic partnerships that may enable us to extend help to small businesses and entrepreneurs in the UAE, Bahrain, and hopefully other countries in the region. Together, we can keep spreading peace and prosperity throughout the region. The Salaryo case is also a good representation of how the two respective business cultures of Israel and the UAE can complement each other to perfection. While Israel brings to the table creativity, velocity, and flexibility, the UAE brings ambition, long-term vision, and the capability to manage large-scale, global transactions. With the two sets of qualities combined, we can turn aspiring and inspiring ideas into a reality today. Finally, both Israel and the UAE are countries that live their current present with a brave view of the future, along with a strong connection to their traditions, beliefs, and past. The peace agreement between Israel and the United Arab Emirates was not named the “Abraham Accords” in vain- its name symbolizes that respect for the past and the religion that sits in the core being of each one of these two countries. Indeed, the outcome of this agreement, the business relations that it is opening for independent entrepreneurs, startup companies and investors, has hope written all over it. Yair Levy is the co-founder and CEO of Salaryo. salaryo.com
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62 / ENTREPRENEUR.COM / November 2020 W hen exploring the impact of the COVID-19 pandemic on small businesses, the topics of advanced tech- nologies and changing consumer preferences seem unavoidable. Mohammed Bin Sulaiman, Senior Manager, Business Relations, Dubai Chamber of Commerce and Industry, confirms that the two features are common within the ongoing transformation of the UAE’s food and beverage sector. “Smart solutions such as convenient delivery apps and con- tactless menus and payments are now becoming the new norm, complementing the traditional restaurant experience and creating value for industry players and customers alike,” he adds. “Food businesses in the UAE are now rethink- ing their business models, and focusing their efforts on adapting to new market conditions and innovating, as they plan ahead for the post-COVID-19 recovery. This is a positive development that will raise industry standards, create new business opportunities, and drive sus- tainable growth. The COVID-19 crisis pushed food businesses to explore non- traditional markets, and this has helped Dubai to strengthen its role and status as a major food distribution centre in the region, and a key player in address- ing food security issues.” Soniya Ashar can talk at great length on both of the aforementioned top- ics. Her startup NutriCal is a food data intelligence software that aims to equip food businesses with pertinent information they can use to attract and retain customers. She considers the F&B and foodtech industry to be in a grow- ing phase, despite it being quite large already- in the UAE alone, it stands at approximately US$30 billion. It is overcrowded, she says, with it including food aggregators, cloud kitchens, last mile, value added softwares, and the like, which is leading everyone to look for a piece of the pie. Therefore, she ad- vises entrepreneurs to have a clear un- derstanding of the market and the need that their product needs to fulfill to be successful and sustainable. “Even in the foodtech industry, the eventual benefi- ciary is a regular consumer of food, like you and me, and the same needs to be kept in mind while creating a product or solution,” she says. Being attuned to the customer needs has been even more important since the outbreak of the COVID-19 crisis, Ashar says. “As an early-stage startup, our purpose is to partner with as many clients as possible from the food indus- try, but we are completely mindful of the fact that restaurants, cafes, and the overall food and beverage industry has taken a huge hit,” she explains. “Hence, WHEN THE GOING GETS TOUGH Despite the negative repercussions of the COVID-19 crisis, entrepreneurs in the UAE’s F&B sector are stepping up to challenge the status quo by TAMARA PUPIC START IT UP ECOSYSTEM Soniya Ashar, founder, NutriCal “THE EVENTUAL BENEFICIARY IS A REGULAR CONSUMER OF FOOD, LIKE YOU AND ME, AND THE SAME NEEDS TO BE KEPT IN MIND WHILE CREATING A PRODUCT OR SOLUTION.”
63 November 2020 / ENTREPRENEUR.COM / WHEN THE GOING GETS TOUGH | ENTREPRENEURS IN THE UAE’S F&B SECTOR ARE STEPPING UP TO CHALLENGE THE STATUS QUO one thing that we have done is to be aggressive and more flexible with pricing. Moreo- ver, with improvements in technology and new features that have been developed at breakneck speed, such as smart contactless menu op- tions, highlighting immunity boosting ingredients, and so on, our platform is designed to be an investment that a business does to increase rev- enue and brand equity, rather than be an added expense in their profit and loss state- ments.” A similar piece of advice -i.e. opting to rely on in- house rather than third party solutions- is what Mark Carroll and Andreas L. Borgmann, founders of Kcal, a Dubai-headquartered food company, would like their peers to take out of the economic crisis caused by the pandemic. “Be flexible to adapt to new changes when needed, and learn from the hard times to plan and be better for the future,” Car- roll says. “Thirdly, focus on building your own ordering platforms to avoid relying on third-party aggregators as the main revenue stream.” And Samer Zayat, founder of Al Beiruti, a Lebanese restaurant and cafe concept operating in Dubai, echoes a similar sentiment by adding that everyone in the sector should use the COVID-19 crisis as a time for reflection, and go back to the basics by focusing on their brand proposition, rather than diluting their ef- fort on secondary strategies. “First of all, everyone has to remember that the industry is suffering as whole, and no one has reached full recovery yet. That’s why everyone must fo- cus on their internal business model, and not get carried away with what others are doing,” Zayat says. “Secondly, brand value comes first- don’t throw away all the effort you have invested in creating your brand by adopting temporary strategies such as aggressive discounts that might impact your long-term position.” Zooming in on their respec- tive ventures, Ashar starts by saying that the NutriCal team had already been work- ing remotely out of Southeast Asia, and thus the COVID-19 pandemic came to reinforce their belief that work can be done from anywhere if the right team has been put in place. “The pandemic came as a reminder that employee well-being, physical as well as mental and emotional, lies at the core of the efficiency of any business,” she says. “Working from the office, working from home, or a com- bination of the two are just details relating to the same. This flexibility empowers em- ployees to make responsible choices. On the bright side of things, it was easier to get a hold of the right decision makers, such as restaurant owners, and operations man- agers, since everyone was confined to one place and rel- atively easy to get a hold of.” As for Kcal, with its 300 em- ployees spread across three restaurant locations in Dubai and two in Abu Dhabi, the company was quick to adapt its business operations to manage the impact of the pandemic. “We implemented reduced capacity working at our central kitchen from the start, so that we could ensure that our operations continued. Our restaurants have been following govern- ment guidelines to a tee,” Borgmann says. “The safety of our employees and cus- tomers comes before every- thing. Efficiency levels have remained as high as ever, with employees now having the benefit of finding what works best for them, whether that be continuing to work from home where possible, or socially distanced on site.” Not compromising on health and safety requirements was a must for Zayat too. “While the official lockdown was three weeks, we had opted to remain closed for almost three months, taking the time to understand the new normal, and ensuring that all measures are in place,” he says. “My advice to all other restaurants would be to take firm measures in enhancing all core health and safety pro- tocols. If we all work hand in hand in doing so, this would grant our industry a faster road to recovery by increasing customer confidence in din- ing out.” Zayat adds that the COV- ID-19 pandemic has brought fast-moving and unexpected “SMART SOLUTIONS SUCH AS CONVENIENT DELIVERY APPS AND CONTACTLESS MENUS AND PAYMENTS ARE NOW BECOMING THE NEW NORM, COMPLEMENTING THE TRADITIONAL RESTAURANT EXPERIENCE AND CREATING VALUE FOR INDUSTRY PLAYERS AND CUSTOMERS ALIKE.” Mohammed Bin Sulaiman, Senior Manager, Business Relations, Dubai Chamber of Commerce and Industry >>>
64 / ENTREPRENEUR.COM / November 2020 variables to the sector, forc- ing his team to promptly adjust their overall business strategy. “We have adopted crisis management strategies across all areas, and focused on protecting our ventures by revisiting every single in- put of our business model,” he says. “A weak point from our pre-COVID strategy was our high dependence on mall locations, which proved to be a disadvantage as customers dining preferences shifted to non-mall, brick-and-mortar, or outdoor locations.” Kcal founders grasped similar lessons, mainly relating to the company structure and operations, which resulted in streamlining several pro- cedures. “Like working a muscle, the stress on the business has helped us to continue to grow bigger and stronger,” Carroll says. “We also found that because of the established name Kcal has in the market, and our record of excellent food hygiene, we’re a trusted company. Consum- ers now think twice before choosing a food provider, and our excellent track record and quick reaction times through- out the pandemic has made them feel more comfortable with ordering from Kcal.” Going forward, Ashar opines that more and more restaura- teurs and cloud kitchens will want to introduce healthier menus and products in order to attract consumers who will remain committed to building and maintaining their immu- nity to prevent contracting the COVID-19 virus. “Our so- lution is a cloud-based recipe management tool with food costing and calorie calcula- tion. It serves as a tool in the kitchen and in operations management, which allows reduction in headcount by leveraging technology. Ad- ditionally, our features that allow for safe and contact- less dining, such as QR Code Menu, are beneficial on the front-end to attract consum- ers.” Borgmann says that Kcal will be focused on daily adjustments to their busi- ness and individual clients’ changing lifestyles. “A prime example is our recent part- nership with a local payment provider, Post-Pay, which al- lows our meal plan clients to have the option of spreading payments over the term of their meal plan to avoid the upfront payment that most companies demand,” he says. “Our clients have appreciated this flexibility in the current circumstances.” In conclusion, Ashar ex- plains that the overall senti- ment in the sector is mixed. “There is hope for change in the future, but it is combined with slight caution,” he says, pointing toward reactions from investors in the sector, “Given that the food and bev- erage sector has been particu- larly hit hard, foodtech start- ups that allow restaurants to become more efficient, lower operating costs, and create an industry need and niche will be of interest to the investor,” she adds. “Although, given these unpredictable and un- precedented times, investors have become more conscious with their investments.” For Carroll, the need for tech in the food industry has become more important than ever. “The fact that luxury restau- rants have now had to shift to deliveries to be able to continue the business proves just that,” he concludes. “The businesses that were tech ready, pre-pandemic have not been impacted quite as much, so I would expect a higher interest purely based on the fact that they have proven to be the most robust during difficult times.” START IT UP ECOSYSTEM Mark Carroll and Andreas L Borgmann, founders of Kcal “BE FLEXIBLE TO ADAPT TO NEW CHANGES WHEN NEEDED, AND LEARN FROM THE HARD TIMES TO PLAN FOR THE FUTURE.” Samer Zayat, founder of Al Beiruti
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66 / ENTREPRENEUR.COM / November 2020 T he adjustment from a steady corporate job was definitely tough, especially for a type A, high- achieving person- ality like mine, because I had to learn how to stomach the rollercoaster of entrepreneurship.” says Dana Baki, co-founder and Chief Operating Officer of Dubai- headquartered food delivery app MUNCH:ON, as she re- calls her decision to leave a sought-after role at Procter & Gamble to test entrepreneur- ial waters instead. “Everyone in my life was supportive of the jump I made, and I think that I was probably harder on myself than anyone else- go- ing from a steady and high profile corporate job to a new country where I knew no one, and in a space where I knew nothing, was really tough, and needed a lot of patience, per- severance, and hard work.” Was it the right decision? Well, since launching as LUNCH in 2016, MUNCH:ON has enjoyed a double digit month-on-month growth, serving companies and resi- dences across the UAE and KSA. Its success stems from Baki, and her two co-founders Mohammed Al Zaben and Awn Ali, who seem to have an intuitive understanding of needs of residents in the countries they serve. The trio focused on using res- taurant downtime and order consolidation to make res- taurants more efficient and lower the price of ordered meals, thereby solving both the problem of overpriced meals with expensive delivery charges, as well as long order- ing and delivery times. Not only do their results speak from themselves, but the team has even managed to turn the COVID-19 crisis to their ad- vantage- quickly, they pivoted their offering from being fo- cused on corporate lunches to now delivering its discounted meals across all meal times to residential areas in the UAE. Looking back at her career so far, Baki remembers being a newcomer to Dubai and us- ing the time to explore jobs different sectors, from private equity to NGOs, until she ul- timately landed in the startup ecosystem and venture capi- tal, “because of the passion I had for the space,” she says. “I always knew I wanted to live in the Middle East, and always had my eye on Dubai, given the unfortunate situ- ation in my home country, Lebanon,” Baki adds. “After getting my MBA in the USA, where I grew up and started SAYING YES TO OPPORTUNITIES/ Dana Baki, co-founder and Chief Operating Officer at MUNCH:ON, reflects on her journey in the entrepreneurial domain by TAMARA PUPIC START IT UP Q&A IMAGES COURTESY MUNCH:ON
67 November 2020 / ENTREPRENEUR.COM / my career, my itch for start- ing a new chapter of my life took over, and I did something very unlike myself- I moved to Dubai without a career plan.” Before starting up MUNCH:ON though, she took the time to familiarize herself with UAE-based entrepre- neurs, learning more about their business and financial models, and even ended up investing in a few. When asked about the qualities she looks for in founders before investing in their businesses, she replies, “Generally, I look for passionate entrepreneurs that demonstrated grit and the ability to ‘hustle’ and make things happen, solid business and financial models that could stand the test of changing assumptions wildly and that show a clear path to profitability, and scalable ideas that could travel across markets.” Today, she leads a team of 135 people across five coun- tries and credits her time at Procter & Gamble for instill- ing in her leaderships skills that brought her to this career peak. “Although I knew my long-term aspirations did not lie in the corporate space, I learned invaluable lessons on how a business should be run and what true leadership skills are from my time at P&G,” she says. “Firstly, my time in the corporate world helped define the true charac- teristics of a business leader, namely visionary leadership -bringing to life a vision, and rallying others around that vision- which is fundamental to building anything disrup- tive, especially as an entre- preneur. However, it is also important to build realistic action plans for achieving that vision. Without the ability to build and execute quickly, you cannot succeed in any sort of startup setting.” The second lesson she grasped from the corporate world relates to nurturing a culture in which people are the greatest asset. “P&G invests a tremendous amount in their employees, and I benefited from a ton of on and off-the-job training, and was blessed to have many mentors and managers that were invested in my growth and development,” she says. “Similarly, I gained invalu- able experience managing and mentoring global teams, and people management became something I truly enjoyed. We nurture a similar culture at MUNCH:ON- ensuring that our teams are challenged, coached, and provided the room to not only make mis- takes, but grow as leaders, is incredibly important to the company’s growth.” However, her entrepre- neurial journey was not all smooth sailing. Baki explains that there have been many challenges along the way (“too many to count”) from finding top talent, to operational is- sues, and to fundraising. The MUNCH:ON team has so far raised a total of US$6 million in funding over three rounds. Her piece of advice for entre- preneurs raising funds in the post-COVID-19 era is to, more than ever, focus on develop- ing their financial acumen. “Financial modeling and deep understanding of your unit economics and levers of growth is pivotal,” Baki says. “Further, if COVID-19 should have taught us all something, it is that we should always plan for the unexpected. Sce- nario plan for your business to ensure that your business model, team, and technology are agile enough to handle any necessary changes or pivots.” Similarly, the value-add and global experience that an in- vestor can provide to a start- up is even more important in these times, she says. “The region needs investors that have a global perspective on financials, growth, markets, metrics, consumer behavior, scaling, and so on,” she says. “This is going to continue to be important even after the COVID-19 aftermath, as many startups in the region look to expand outside of the region.” If Baki’s story can teach us something, it is that entrepre- neurship is more a vocation than a profession, leading one to build ventures and add value, even when it was neither planned nor envi- sioned before. “Nothing good comes easy, and the path to something great comes with a lot of twists and turns, ups and downs,” Baki says. “Some leadership skills apply to life as well as business- set a vi- sion for what you would like to achieve, build a plan to achieve it, and then expect nothing to go as planned. Take the time to build the solid foundation, because you will need to have confidence in yourself, and what you are building, but perhaps some of the most important skills to build revolve around agility, perseverance, and the cour- age to say ‘yes’ to opportuni- ties presented to you, even if you don’t feel fully prepared. Even if you are not completely ready, the most powerful learning will come from the journey, and that’s half the fun and the challenge.” SAYING YES TO OPPORTUNITIES | DANA BAKI, CO-FOUNDER AND CHIEF OPERATING OFFICER AT MUNCH:ON “SOME LEADERSHIP SKILLS APPLY TO LIFE AS WELL AS BUSINESS- SET A VISION FOR WHAT YOU WOULD LIKE TO ACHIEVE, BUILD A PLAN TO ACHIEVE IT, AND THEN EXPECT NOTHING TO GO AS PLANNED.” “P&G INVESTS A TREMENDOUS AMOUNT IN THEIR EMPLOYEES, AND I BENEFITED FROM A TON OF ON AND OFF-THE-JOB TRAINING, AND WAS BLESSED TO HAVE MANY MENTORS AND MANAGERS THAT WERE INVESTED IN MY GROWTH AND DEVELOPMENT.” MUNCH:ON team
68 / ENTREPRENEUR.COM / November 2020 MONEY VC VIEWPOINT I n the Middle East, as little as 10 years ago, entrepreneurship and striking out on one’s own was seen as unusual and even taboo. How times have changed. Today, start- ups and entrepreneurship have grown into key drivers of sustain- able growth for almost every economy across the region. In Saudi Arabia, for example, SMEs now constitute a staggering 99% of businesses and provide 64% of total employment. In the UAE, the SME sector represents more than 98% of the total number of companies and con- tributes some 52% of non-oil GDP– a figure they want to increase to 60% by 2021. In Bahrain, during the first half of 2020, SMEs claimed a record 47 public tenders worth a combined US$21.8 million– despite the confidence-denting influence of the pandemic. The urgent region-wide requirement for rapid economic diversification called for boldness. Governments, the private sector, and individuals responded. Across the region, we witnessed a paradigm shift: longstanding norms were broken as citizens throughout the Middle East stepped up to meet the changing needs of the times. Despite the rapid emergence and growth of entrepreneurship, cultural resistance to the digital economy re- mained. The Middle East’s preference for cash had stretched well into the digital era, with even local tech startups having to accept cash payments. Then crisis struck. In the face of COVID-19, the most significant global public health emergency of the 21st century, govern- ments across the region rapidly imposed stringent lockdown and quarantine measures. For a second time, the Middle East stepped into the unknown, and adapted. In a region known for its vast shopping malls and inventory-heavy businesses, digital payments surged. Now, once again, Middle Eastern bold- ness is needed. Startup scenes across the region have thrived, and steadfastly navigated the unpredictable waters of the COVID-19 era. However, it seems that Middle Eastern innovation has hit a ceiling. As research from New York data analytics firm CB Insights makes clear, only one Arab country –the UAE– can currently make the claim to be home to its own unicorn company. 30 countries can also make this claim, with some, like the US, boasting as many as 235 Unicorns. So what’s holding us back? The growth of VC communities across the region has been an integral pillar to the emergence of our dynamic startup ecosystems. And even in the face of the pandemic, VC interest in the Middle East has continued to grow. Despite global funding falling to its lowest level since the global financial crisis, research from MAGNiTT tells us that the first half of 2020 saw a record $659 million invested in MENA-based startups– rep- resenting a 35% year-on-year increase. And yet while funding into the region continues to grow, it has understand- ably become more cautious. Investors are turning their attention to lower- risk, later stage startups. More money is being invested, but more sparingly. This is a positive step in the evolution of Middle Eastern VC, but now it is time to move to the next step. Investors and fund managers in the region have shown their willingness to write cheques up to a Series B or Series C level. But for Series C and Series D, a larger cheque is needed. A larger risk appetite is needed too. This reticence is posing a hurdle to Middle Eastern inno- vation, holding back our startups from making the leap to the coveted unicorn status. This region is a voracious con- sumer of innovation, and has the means to buy it and bring it over. But we need bolder funding to really grow our own. We have the infrastructure, we have the talent, and we have the demand. The region boasts one of the world’s young- est and fastest growing populations, the world’s highest internet growth rate, and accounts for 10% of global mobile app traffic and revenue generation. Smartphone penetration stands at well over 10%. VCs investing in the region have been right to be cautious so far, but now it’s time for them to show a little Middle Eastern boldness of their own. Areije Al Shakar is Director and Fund Manager at Al Waha Fund of Funds. alwahafund.com More Middle Eastern boldness is needed to break “the scale-up ceiling” by AREIJE AL SHAKAR GO BIG OR GO HOME
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50 Years of Growing Together From the very humble beginnings of this land, to the vibrant hub that it is today. Today’s Abu Dhabi is a reflection of the pride of the past. The possibilities of today... a reward for the efforts of those before. For fifty years our nation’s journey has been our own. A shared dream of making the UAE the leader that it is today A beacon of light and opportunity for those who dare to dream Al Masaood Group exemplifies everything that Abu Dhabi stands for. Indeed, the late Ahmed Al Masaood, our first chairman, was the first president of the Abu Dhabi Chamber of Commerce, and Al Masaood was registered as company number 1 by the Chamber. For half a century Al Masaood has contributed to the emirate’s aspiration of being a modern, innovative, and sustainable economy. Our quest is to bring home the world’s best brands that constitute essential and commercial building blocks in the making of a nation. Together with our nation, its leaders, and its communities, we continue to grow together, deliver value and embrace heritage. Through it all, Al Masaood has been there. Strong and robust. Bringing home the world’s most renowned brands. From Automotive to Industrial.. and from Marine to Retail. All under one home… Al Masaood. AL MASAOOD LLC PO Box 322, Abu Dhabi | Tel. +971 2 201 7000 | Email info@masaood.com | www.masaood.com