Entrepreneur Middle East
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October 14, 2024 THE GOLDEN MOMENT/ The App Olympics by Dubai Chamber of Digital Economy P.54 FINTECH/ What’s next for digital payments in the Middle East? P.30 GITEX GLOBAL 2024/ The showcase of cutting-edge technologies in Dubai P.44 THE GROUP CEO OF e& IS PAVING THE WAY FOR A DIGITALLY EMPOWERED (AND EQUITABLE) WORLD. P.18 HATEM DOWIDAR HATEM DOWIDAR is the Group CEO of e&, the UAE- based global technology group. CHANGE Championing
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Contents/October 2024 P.18 Championing Change As the Group CEO of e&, Hatem Dowidar has led the UAE-grown technology company’s success story from the front. Now he has his sights set on global digital empowerment. FEATURES
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10 / ENTREPRENEUR.COM / October 2024 October 2024 Contents ‘TREPONOMICS 62 IN FOCUS Check out a selection of the companies enrolled in the MOHAMMED BIN RASHID INNOVATION FUND (MBRIF) accelerator program. STARTUP SPOTLIGHT BUSINESS UNUSUAL 15 Claim Your Corner ALDHABI ALMHEIRI advises on how to find a unique market as a young entrepreneur. 54 The Golden Moment A look at how some of the participants of last year’s edition of the APP OLYMPICS -an initiative by Dubai Chamber of Digital Economy- have progressed in the last six months. 44 GITEX Global 2024 The Entrepreneur Middle East team brings you picks for the top sessions at the event. 32 Pioneering tech A closer look at FOODICS and QEEN. 42 Maximizing Shopping Season How TIKTOK supports small and medium businesses in Q4. CEO Wissam Younane wissam@bncpublishing.net MANAGING DIRECTOR Rabih Najm rabih@bncpublishing.net ART DIRECTOR Simona El Khoury MANAGING EDITOR Tamara Pupic tamara@bncpublishing.net FEATURES EDITOR Aalia Mehreen Ahmed aalia@bncpublishing.net REGIONAL DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net DIRECTOR OF INNOVATION Sarah Saddouk sarah@bncpublishing.net GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa jo@bncpublishing.net HEAD OF PARTNERSHIPS Samir Glor Samir@bncpublishing.net COMMERCIAL LEAD Anna Chipala anna@bncpublishing.net COLUMNIST Tamara Clarke CONTRIBUTING WRITERS Fida Chaaban, AlDhabi AlMheiri, Sarah Kanji, Tamara Clarke. SUBSCRIBE Contact subscriptions@bncpublishing.net to receive Entrepreneur Middle East every issue COMMERCIAL ENQUIRIES sales@bncpublishing.net ENTREPRENEUR.COM Access fresh content daily on our website All Rights Reserved 2024. Opinions expressed are solely those of the contributors. Entrepreneur Middle East and all subsidiary publications in the MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Entrepreneur Media Inc. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission of the publisher. Images used in Entrepreneur Middle East are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock. Printed by United Printing and Publishing. PO BOX 502511 DUBAI, UAE P +971 4 4200 506 EntMagazineME Entrepreneur-me → JACQUELINE PERROTTET is the founder and CEO of Hoopla, UAE-born mental wellness app for parents and children focused on prevention and early intervention. 30 Future-proofing fintech ZIINA co-founder and CEO Faisal Toukan on the future of digital payments in the region.
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12 / ENTREPRENEUR.COM / October 2024 CEO’s Message/ T his issue delves into the extraordinary power of technology to transform businesses, industries, and economies. A testament to the growing interest in technology is evident from the remarkable growth story of Dubai’s renowned technology event GITEX. It has evolved from a small event entitled the Gulf Computer Exhibition in December 1981 to one of the world’s largest technology exhibitions of its kind. As GITEX Global is returning to Dubai on October 14-18, 2024, for its 44th edition, our editors have compiled a list of sessions you don’t want to miss (P.44). At the heart of this issue is also a story that puts a spotlight on technology- Hatem Dowidar, the Group Chief Executive Officer (CEO) of e&, tells us more about the e& brand’s journey from starting off as the UAE homegrown telecommunications provider Etisalat to becoming the global technology company e& that today offers telecommunications and digital products across five distinct verticals in 33 international markets. And Dowidar and his team show no signs of slowing down- their vision for the company’s future is to become a tech leader that digitally empowers societies around the world (P.18). As you navigate through these pages, we will turn your focus to some other technology-powered endeavors, such as the 18 app projects that graduated from the App Olympics by the Dubai Chamber of Digital Economy (P.54), or fintechs Ziina (P.30) and Qeen (P.32), the region’s leading cloud-based restaurant management technology and payments platform Foodics (P.34), and one of the world’s most in-demand platforms TikTok (P.42). But we don’t want you to stop there. This magazine is packed with other inspirational stories and invaluable insights, such as our interviews with the startups enrolled in the Dubai-based Mohammed Bin Rashid Innovation Fund (MBRIF) accelerator program (P.62), or a report by the Sharjah Entrepreneurship Center (Sheraa) revealing promising trends for student entrepreneurship in Sharjah (P.72). As we continue to grow and learn together, I invite you to visit our stand at GITEX Global 2024 (Dubai World Trade Center: H10-10 / Dubai Creek Harbour: Hall 6, Stand No.G50) and meet our team in person. WIssam Younane CEO-BNC Publishing EXPLORING THE UNCHARTED TERRITORIES Or how technology is unlocking new opportunities that were once unimaginable.
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15 October 2024 / ENTREPRENEUR.COM / Claim Your Corner How to find a unique market as a young entrepreneur by ALDHABI ALMHEIRI
16 / ENTREPRENEUR.COM / October 2024 O ne of the important things to be considered as key to success is finding what we call it niche. It is basically how to identify your business to find a specific area where it stands as a unique business. It doesn’t matter if you are starting a business by creating a product or offering a service, by understanding your niche you will focus and attract the customers, and create a strong brand identity. Rather than trying to offer the best product or service that is good for everyone, niche businesses focused on a specific group of customers, offering them a tailored products or services that are highly match that audience. For example, a business might specialize in eco-friendly products for children, here I specify the need and the actual people who will be benefit out of it Finding a niche allows you to focus and differentiate your business from other competitors who may not meet the needs of your target customers. Identify your passion and strengths The first step to find your niche is to think of something you are good at, and you have a big passion to keep doing it without feeling bored. Your business will be more successful if it started with something you are enjoying doing it. You can think of your interests, hobbies, and skills you have already developed. At the very beginning of my business, I was thinking of the love of reading and how to start writing as well, let your passion guide you to find that talent. By testing yourself on different areas you can understand better what you are good at and what are your strengths. Research the market Once you know your strengths and your passion toward the business, it’s very important to do research the market to know if your product or service is on demand or not. We already know that a business is a solution to a problem so have a look for some problems that needs to be solved by your product or service. Find out are their customer groups who are looking into your solutions? For example, if you’re passionate about children’s educa- tion, you could see that there aren’t many books for children that focuses on environmental awareness and this is showing a real gap and an opportunity to create something unique in the market. Define your target audience Knowing your target audience is key to defining your niche. Your target audience is the group of people who are going to benefit from your product or service and most importantly pay. For example, I am selling books for children but, the one who are taking the decision is parents or caregiver and that’s where I should target them instead of children. You should be very specific when you think of your target audience as like, how old are they, where they are living, their interest and other factors. The more you be specific to describe and know your customers you will generate a better result. Your brand identity Your brand identity should be aligned with your niche to FINDING A NICHE ALLOWS YOU TO FOCUS AND DIFFERENTIATE YOUR BUSINESS FROM OTHER COMPETITORS WHO MAY NOT MEET THE NEEDS OF YOUR TARGET CUSTOMERS.” “ B/Market
17 October 2024 / ENTREPRENEUR.COM / target your customers correctly. Everything within your brand should represent the values and needs of your possible customers. Starting with logo, values, and message you are trying to deliver. If your brand is an eco-friendly, be sure that your branding reflects sustainability and environmental responsi- bility. A strong branding will help you to build a loyal customers or audience. When the customer feels that your product or service truly touches their needs and serve them in a very perfect way, they will be returning to you back every time and become loyal customers. When you identify your passion and research the market to know exactly what your niche is you will better understand your customers and it will become easy to test your ideas. Remember, test your ideas, and focused on small group of people is better than trying to serve everyone. WHEN YOU IDENTIFY YOUR PASSION AND RESEARCH THE MARKET TO KNOW EXACTLY WHAT YOUR NICHE IS YOU WILL BETTER UNDERSTAND YOUR CUSTOMERS AND IT WILL BECOME EASY TO TEST YOUR IDEAS.” AlDhabi AlMheiri is a young Emirati colum- nist, entrepreneur, and publisher as well as a Guinness World Records titleholder. As the founder of Rainbow Chimney Bookstore and Publishing House, she is committed to empowering young writers and promoting cultural diversity through the transformative power of storytelling and publishing. AlDhabi firmly believes in the power of stories, providing children with a chance to express their thoughts, feelings, and experiences through books. As the author of two books and the publisher of over 52 works by children from diverse backgrounds, AlMheiri’s mission is to promote education, sustainability, financial literacy, and emotional resilience through narrative. Her initiatives, such as “Books from Children to Children,” foster creativity and self-expression among youth while addressing crucial social issues like diversity, inclusion, and emotional well-being. In addition to her work in literature, AlMheiri is a passionate advocate for children with additional needs, ensuring that their voices are amplified and their unique talents are recognized and nurtured. Her enthusiasm for finance has also driven her entrepreneurial ventures, making her a role model for young aspiring business leaders. AlMheiri’s commitment to education and personal development is exemplified by her academic achievements. She graduated as a Fellow from Georgetown University’s School of Business in 2024, in collaboration with the US Mission to the UAE, and successfully completed the Entrepreneurship Program offered by Google and the UAE Ministry of Economy. Through her work and vision, AlMheiri is leaving a lasting impact on young people, advocating for a future where education, storytelling, financial literacy, and sustainability are the cornerstones of societal progress. Her initiatives are deeply aligned with the United Nations Sustainable Development Goals (SDGs), reflecting her dedication to creating a better world for future generations. rainbowchimney.ae
18 / ENTREPRENEUR.COM / October 2024 As the Group CEO of e&, HATEM DOWIDAR CHANGE Championing has led the UAE-grown technology company’s success story from the front. Now he has his sights set on global digital empowerment. by AALIA MEHREEN AHMED 18 / ENTREPRENEUR.COM / October 2024
19 October 2024 / ENTREPRENEUR.COM / → HATEM DOWIDAR is the Group CEO of e&, the UAE-based global technology group. He has spearheaded several ground- breaking strategic programmes that propelled the company’s business growth across the 33 markets where it now operates. 19 October 2024 / ENTREPRENEUR.COM /
By equipping individuals with the necessary knowledge and skills, we are empowering them to participate meaningfully in the digital economy.” “ } 20 / ENTREPRENEUR.COM / October 2024 → As the Group CEO of e&, Dowidar has been instrumental in creating strategic partnerships and key collaborations with global industry leaders that will digitally empower societies.
21 October 2024 / ENTREPRENEUR.COM / M any residents who have lived long enough in the UAE, will be able to recall e&’s brand’s journey from being known as Etisalat, with its iconic golf-ball buildings stationed around the nation, to becoming e&, a global technology company which today offers telecom- munications (telco) and digital products and services across five distinct verticals (e& UAE, e& life, e& international, e& enterprise, and e& capital) in 33 international markets. H atem Dowidar, Group Chief Executive Officer (GCEO), e& points out the most rewarding part of this transformation journey was being at the helm of the growth trajectory, and he puts the spotlight not on what has been achieved, but rather who has achieved it. “The most rewarding experience for me, hands down, is witnessing the incredible talent at e& rise to the challenge and achieve remarkable milestones,” Dowidar declares. “When we set a bold vision for the company’s future –to become a tech leader that digitally empowers societies– it was our people who made it happen. Their dedication and hard work have paid off signifi- cantly.” T his year alone e& UAE, the brand’s telco arm, achieved the highest ranking in the Global 500 2024 Report - a list by UK-head- quartered independent brand valuation and strategy consultancy Brand Finance that ranks the world’s strongest and most valuable brands. The report ranked e& UAE as the Strongest Telecom Brand globally as well as the Strongest Brand in the MEA across all categories. “e& UAE was also named the Top Global Telecom Employer in Brand Finance’s inaugural Employer Brand Report 2024,” Dowidar adds. “We were recognized as a Great Place to Work® by the Great Place to Work Institute, reflecting our commitment to nurturing a positive, supportive, and engaging work environment for our people. These achievements wouldn’t have been possible without a team as passionate about innova- tion and progress as I am. Seeing our people develop their skills, embrace new opportunities, and contribute to e&’s success is what truly motivates me.” T hese accolades are a direct result of e&’s regional and global pursuits so far- and in the case of Dowidar, the company’s successes are perhaps synonymous with his own. Having joined e& nearly a decade ago, in 2015, Dowidar went from being the tech company’s Group Chief Operating Officer to becoming its CEO-Inter- national in 2016 to, finally, the Group CEO in 2020. “ e& UAE, our telco core in our home market, has taken huge strides forward in realising its vision for a smarter, more connected future as it builds foundational infrastructure so that emerging technologies like internet of things (IoT), cloud and artificial intelligence (AI) can transform lives and indus- tries,” Dowidar notes. “We have always been at the forefront of bringing high-speed internet to homes and businesses across the UAE. Our commitment to fibre-to-the-home (FTTH) deployment has resulted in the UAE achieving a world-leading penetration rate. This infrastructure empowers individuals and enterprises with unparalleled connectivity, fueling economic growth and digital transfor- mation.” O ne of the recent achievements for e& was the recognition from Ookla, a US-based network intelligence and connectivity analysis company, that ranked e& as DATA IS CRUCIAL, BUT THERE’S ALSO AN ELEMENT OF GUT INSTINCT THAT COMES FROM YEARS OF EXPERIENCE AND UNDERSTANDING THE BROADER CONTEXT. I BELIEVE THE MOST EFFECTIVE LEADERS STRIKE A BALANCE BETWEEN BOTH.”
22 / ENTREPRENEUR.COM / October 2024 the fastest 5G network in the world. “With a remarkable 99% population coverage and average download speeds exceeding 680mbps, we’ve set the benchmark for mobile connectivity experiences,” Dowidar adds. “Earlier this year, we further strengthened our position by achieving a groundbreaking world record of 30.5gbps on our live 5G network.” I n July 2024, e& UAE’s pioneer- ing efforts in the 5G space led to a collaboration with UAE-born energy giant ADNOC to develop the largest private 5G wireless network in the energy sector. “Spanning 11,000 square kilometers, this 5G network will deliver high-bandwidth connectivity across ADNOC’s onshore and offshore operations, enabling it to further integrate its advanced AI solutions at its most remote facilities and reduce costs through automation, improve efficiency, minimize emissions, and enhance the safety of its people,” Dowidar explains. “The project is set to be completed in 2025 and is expected to generate US$1.5 billion (AED5.5 billion) in value during its first five years of operation.” e &’s technological disruptions have made its way to the country’s retail and finance sectors as well. In September 2024, the second branch of the AI-pow- ered e& Autonomous Store Experi- ence (EASE) opened its doors at the iconic Dubai Mall. Created with a vision to set a new benchmark for customer satisfaction, the EASE stores offer smart shelves, robotics, smart dispensing and trade-in machines to create a unique shopping experience. “EASE continues to pioneer the future of retail with this innovative concept, which offers an effortless shopping journey with no wait times,” Dowidar says. “Then there is e& money, the fintech arm of e& life [the e& vertical which offers digital products across multimedia, payments, and more], which has established itself as a major player in the UAE’s financial landscape. With over 1.1 million subscribers, it is now the number one fintech app in terms of monthly active users. It has seen a six-fold increase in international money transfer volume and expanded its remittance services to over 200 countries.” T he expansive list of successful projects you’ve just read about have come from just two out of e&’s five verticals- and only in the UAE. e&, however, is operational in 33 markets and serves a total of 175 million customers worldwide. B efore moving on to the tech group’s global achievements, however, let’s take a moment to get to know the man behind these efforts - Dowidar himself. To many entrepreneurs and business leaders, effective time management is a goal that can sometimes feel elusive and unattainable. So, how has Dowidar managed to lead a company that has a considerable presence in so many different industries? “With each of our business verticals having its own CEO and leadership, e& is set up in such a way that it offers me flexibility and enables me to focus on the overarching vision. As a global technology group, we operate across 33 countries, with five distinct verticals and numerous subsidiaries. This complex structure transcends countries and cultures and is home to 90 nationalities, presenting signifi- cant operational challenges. So, on an operational level, we believe in decentralization and giving our teams an autonomous and distributed approach to decision-making and management, enabling an agile and responsive ecosystem.” S uch an approach has certainly enabled Dowidar to increase e&’s efforts towards its vision to “drive the digital future to empower societies.” “The digital revolution is undeniably reshaping our world, offering unprecedented opportunities for human develop- ment and empowerment,” Dowidar says. “At e&, we firmly believe that digital transformation is essential in improving the quality of life, particularly in underserved commu- nities. By providing affordable, accessible digital connectivity, we can bridge the digital divide and create a more equitable and inclusive society.” O ne of the most prominent manifestations of this vision came when e& participated in the Partner2Connect Digital Coalition, a multi-agency United Nations (UN) program led by the the International Telecommunication Union (ITU), an entity that aims to connect the world’s population to the internet. “With our investment of $6 billion, we are working to expand connectivity across the Middle East, Africa, and Asia,” Dowidar explains. “This initiative is not just about building infrastructure; it’s about empowering individuals and communities to overcome challenges, improve their livelihoods, and contribute to a more sustainable future. One of our key projects in this area is the deployment of 4G networks in underserved regions. By providing faster and more reliable internet access, we are enabling people to access essential services such as education, healthcare, and financial services.” CURRENTLY, WE’RE DEVELOPING AN AMBITIOUS e& CLIMATE TRANSITION PLAN THAT NOT ONLY ADDRESSES OUR 2030 NET ZERO TARGETS BUT ALSO DELVES INTO CIRCULARITY, BIODIVERSITY, AND WATER CONSERVATION.”
23 October 2024 / ENTREPRENEUR.COM / O ne region that has been a shining example of e&’s commitment to enabling more digitally empow- ered societies across the globe is Pakistan- a nation of 110 million internet users. “In Pakistan, we’ve brought fibre broadband to over one million homes and will add millions more in the next three to five years,” Dowidar declares. “Following a spectrum acquisition in 2021, our 4G mobile network is available to 28 million subscribers in Pakistan, serving as a crucial enabler for essential digital services and integrating communities into the digital economy, allowing people to connect to essential financial tools.” I n September 2024, e& also joined forces with the United Nations Development Program (UNDP) in a bid to increase digital inclusion in the Arab region. “This collaboration is aligned with our shared commit- ment to enabling societies through innovative tech- driven solutions that drive sustainable development,” Dowidar adds. “Together, we’re focusing on empowering micro, small and medium enterprises (MSMEs) and individuals to access finance through digital tools. The initial pilot projects in Egypt, led by our subsidiary Erada Microfinance, focus on supporting women entrepreneurs in Egypt’s Upper Region, developing accessible health insurance products, and promoting green transformation and financing risk facilities.” A nd that isn’t all when it comes to e&’s regional endeavors in this regard. Another project the company has contributed to is the Arab Knowledge Project, that falls under the UNDP’s FutureSkills4All initiative to provide free access to online courses. “e& will contribute $1 million annually The most rewarding experience for me, hands down, is witnessing the incredible talent at e& rise to the challenge and achieve remarkable milestones.” “ } → DOWIDAR’S leadership has been largely attributed to the enhancement of e&’s brand equity, employee experience, as well as adding value to stakeholders.
24 / ENTREPRENEUR.COM / October 2024 to expand the Arab Knowledge Project, further bridging the digital divide and building a more inclusive digital future,” Dowidar says. “By equipping individuals with the necessary knowledge and skills, we are empowering them to participate meaningfully in the digital economy. Ultimately, our goal is to create a world where everyone can connect, learn, and grow.” W hen it comes to delivering such results, Dowidar and his team have been at the forefront of devising and executing e&’s global plans. These successes are attributed to the strategic partnerships and acquisitions that have played a key role in this regard. “As a global technol- ogy company, we partner with other digital players, where we serve as both customers and partners,” Dowidar notes. “This dynamic, characterized by mutual benefit and competition, is a familiar one for us. The strategic importance of mergers and acquisi- tions (M&A) for businesses like ours cannot be overstated. Every deal we consider undergoes a rigorous evaluation process to ensure each has a purpose, is aligned with our strategic goals, and offers clear financial viability and significant return potential. As such, our decision to prioritize partner- ships and acquisitions in our global growth strategy is rooted in a deep understanding of the dynamic digital landscape we operate in.” T ake a quick look at some of the collaborations Dowidar has led e& towards his tenure so far, and it is obvious that the Group CEO has backed his vision with action. For example, the brand has teamed up with a string of global telco and technology giants -including South Korea’s SK Telecom, Germany’s Deutsche Telekom, Singapore’s Singtel, and Japan’s Softbank- to form a Global Telco AI Alliance, an initiative driven towards unlocking the potential of AI to elevate network management, customer experiences, and operational efficiencies. “Together, we have also established a joint venture to develop a telco-specific large language model (LLM),” Dowidar states. “Other examples of our successful partnerships include our collaborations with Micro- soft, Oracle, and IBM. These alliances not only enhance our core business but also contribute to our environmental, social, and governance (ESG) goals. For instance, our partnership with IBM leverages their sustainability software to advance our ESG strategy.” D owidar’s introduction to e&’s ESG goals is, in fact, a seamless segue to another area of focus for the company: sustainability. “Our sustain- ability efforts are spearheaded by a dedicated steering We have always been at the forefront of bringing high- speed internet to homes and businesses across the UAE. Our commitment to fibre-to- the-home (FTTH) deployment has resulted in the UAE achieving a world-leading penetration rate.” “ }
25 October 2024 / ENTREPRENEUR.COM / committee chaired by me and composed of experienced ESG professionals and senior executives,” he reveals. “This committee oversees the environmental and social gover- nance across the group to ensure sustainability is integrated into daily operations. We’ve assembled a team of experts with deep knowledge in all ESG pillars. Currently, we’re develop- ing an ambitious e& climate transition plan that not only addresses our 2030 net zero targets but also evaluates circularity, biodiversity, and water conservation. Our initial efforts have yielded positive results, with a 4% reduction in grid electricity usage and a 1% increase in renewable energy sources year over year.” W hile achieving financial targets are essential, Dowidar is also quick to note that sustainability as an idea must go hand-in-hand with digital innovation. “New technologies play a crucial role in helping e& achieve its sustainability goals,” he says. “Our investment in AI and IoT technologies allows us to monitor and optimize energy usage across our operations. These technologies enable us to detect inefficiencies, predict maintenance needs, and implement energy-saving measures more effectively. Addition- ally, data analytics help us identify complex patterns and trends, enabling stakeholders to make informed decisions and effectively target actions.” H ere, Dowidar shares that having recognized “the importance of data”, especially in ESG, it is an aspect that must be solid. “Our cross functional reporting platform integrated with the financial system will be integral to reporting sustainability data and crucial to our key stakeholders and investors,” he says. “Furthermore, we are helping organizations reduce emissions and include green practices through our sustainability as a service offering. This model paves the way for greater sustainability by automating opera- tions, enabling data-driven decisions, diminishing environmental footprints, and uplifting community welfare.” W ith this, it becomes entirely evident that data-driven results and solutions form the crux of the e& culture. But the question arises: in a landscape so dominated by data, can leaders still dare to follow their gut instinct? “When making decisions, I rely on both hard facts and my intuition, as each situation demands a different approach,” Dowidar shares. “Data is crucial, but there’s also an element of gut instinct that comes from years of experience and understanding the broader context. I believe the most effective leaders strike a balance between both. Leading a global group like e& is incredibly rewarding but also requires a balance of instinct, data, and experience.” H ere, Dowidar raises an important reminder for entrepreneurs and leaders alike. “This ‘balance’ also means maintaining a healthy work-life balance,” he advises. “This year, I made a conscious decision to recon- nect with my love for reading fiction, which has been both a refreshing and insightful exercise. Recently, during a vacation, I picked up “River God,” a historical fiction novel set in ancient Egypt. The protagonist, Taita, is a slave-turned-leader whose resource- fulness and strategic thinking made a lasting impression on me. His deep understanding of the Nile and its impact on life was a great reminder of the importance of resource manage- ment—a lesson equally vital for businesses today. Taita’s ability to inspire and lead people while embracing new ideas and challenging the status quo resonated with me. He has a way of rallying people around him and inspiring them to achieve great things. In many ways, his leadership mirrors the qualities I strive to embody: adaptability, vision, and the courage to innovate.” A nd it is precisely with this mindset that Dowidar is now getting all set for e&’s next phase of growth. “e&’s purpose will evolve to further cement our role as a leader in the digital and sustainable future. We will continue to accelerate our efforts to pioneer advanced technologies like AI, machine learning, and 6G, setting new benchmarks for their use in improving connectivity and digital experiences. Sustainability will become even more central to our strategy. We will intensify our efforts to achieve net-zero emissions, increase our investment in renewable energy, and promote sustainable practices across our value chain. Ultimately, we will continue to break down barriers to connectivity, ensuring that everyone, regardless of location or socioeconom- ic status, has access to the digital world!”
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27 October 2024 / ENTREPRENEUR.COM / Be iconic → /Acer Iconia X12 B/Gear #TamTalksTech Gadgets and doodads that you might’ve missed out on, sourced by a tech aficionado. by TAMARA CLARKE Go Pro ← /Apple iPhone 16 Pro and iPhone 16 Pro Max Apple iPhone 16 Pro and iPhone 16 Pro Max feature larger display sizes and an all-new Camera Control system with new creative capabilities. The latest Pro lineup features the thinnest borders of any Apple product and introduces larger display sizes: 6.3 inches on iPhone 16 Pro and 6.9 inches on iPhone 16 Pro Max — the largest iPhone display ever. Featuring a new 48MP Fusion camera with a faster quad-pixel sensor that enables 4K120 fps video recording in Dolby Vision, these new Pro models achieve the highest resolution and frame-rate combination ever available on iPhone. Additional advancements include a new 48MP Ultra Wide camera for higher-resolution photography, including macro; a 5x Telephoto camera on both Pro models; and studio-quality mics to record more true-to-life audio. Both models offer industry-leading durability with a strong, lightweight titanium design, as well as the latest-generation Ceramic Shield, which is two times tougher than glass on any other smartphone. The new mechanical architecture improves heat dissipation and efficiency for up to 20 percent better sustained performance. Apple boasts that with iOS 18, larger batteries are optimized to offer a huge leap in battery life. Both models are available in four stunning finishes: black titanium, natural titanium, white titanium, and desert titanium. TAMARA CLARKE, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the region. Clarke’s goal is to inform about technology and how it supports our lifestyles. Talk to her on Twitter @TAMARACLARKE. theglobalgazette.com IMAGES © ACER | APPLE | SONY The new Acer Iconia X12 features a 12.6-inch AMOLED display with a fast 60 Hz refresh rate and 400 nits brightness. The Acer Iconia X12 is also equipped with quad stereo speakers for rich, immersive audio, a 8 MP front camera and a 13 MP rear camera with flash and autofocus for enhanced video calling and image capture. It runs on Android 14 and is powered by a MediaTek Helio G99 processor, built on a 6 nm chip for fast display, smooth streaming, and reliable connectivity. The device sports a durable aluminum alloy chassis, weighing just 600 g and 6.7 mm thick. Along with its 10,000 mAh battery capacity and quick-charging capability, the Iconia X12 is a trendy and convenient device. With 8 GB LPDDR4X RAM, up to 256 GB UFS storage, and a microSD slot of up to 1 TB, the Iconia X12 maintains offers plenty of memory space for storing files and data. It also supports Wi-Fi 5, GPS, Bluetooth 5.2, and USB Type-C for reliable connectivity. There’s a host of compatible accessories available, including an option for an aluminum stylus pen and portfolio case with a stylus slot. Link up ↓ /Sony LinkBuds Fit For an even more secure and comfortable fit when exercising, Sony has developed LinkBuds Fit with new Air Fitting Supporters, featuring soft and hollow tail to reduce contact with your ear, which in turn reduces pressure on your ear. The design also includes a hooked-shaped, hard attachment to prevent accidental dislodging. This means in larger ears they fit nicely at the tip of the ears and in the middle for smaller ears. LinkBuds Fit are equipped with the Integrated Processor V2, which optimizes noise cancelling in real time according to your environment. Combined with excellent noise cancelling, Auto Ambient Sound Mode automatically adjusts ambient sound to match your surroundings so you can comfortably enjoy your music anywhere. LinkBuds Fit supports High-Resolution Audio Wireless and DSEE Extreme and with Precise Voice Pickup Technology that optimally controls microphones on the outside and inside of the earbud, and advanced audio signal processing, conversations are ultra clear, even in noisy environments. Auto Switch, Auto Play, Quick Access enabled features such as Amazon Music Play Now or Spotify Tap and voice control it’s even easier to access and enjoy your entertainment. Plus with Wide Area Tap, you can use double or triple taps in front of either of your ears to control your music playback so there’s no need to touch the LinkBuds Fit themselves to operate. LinkBuds Fit also features Multipoint Connection, instant play and pause, control with head gestures, built-in voice control and Speak-to-Chat. They also have a battery life of up to 21 hours of total playback and an IPX4 water resistance rating.
B/Gear Oris adds a new timepiece to its acclaimed Divers Sixty-Five collection, the Divers Sixty-Five Date Cotton Candy “White Star”. At the heart of the White Star is Oris’s signature 1960s-inspired retro sports watch design, celebrated for its craftsmanship and durability. The timepiece’s 38.00mm case, bezel, crown, and articulated bracelet are crafted in robust bronze, paying homage to Oris’s deep-rooted industrial heritage. The inclusion of bronze creates a unique patina over time, ensuring that no two watches will ever age alike, further enhancing its exclusivity. The watch is equipped with a domed sapphire crystal and powered by an automatic mechanical movement with date indication, showcasing Oris’s commitment to both form and function. Designed for adventure, it is water-resistant to 100 meters, making it suitable for winter sports and diving alike. The new Divers Sixty-Five Date Cotton Candy “White Star” is now available at selected Oris retailers worldwide, and exclusively at the Ahmed Sediqqi & Sons Boutiques in the UAE. oris.ch/en-AE From better goods to better wardrobe bests, every issue, we choose a few items that make the approved executive selection list. In this edition, our picks include Oris, Talata, Being Human, and SIMIHAZE BEAUTY. The Executive Selection FOR THE WINTER SPORTS SEASON → Oris Introduces the Divers Sixty-Five Date Cotton Candy “White Star” 28 / ENTREPRENEUR.COM / October 2024
29 October 2024 / ENTREPRENEUR.COM / SIMIHAZE BEAUTY’s LIGHTBEAM is the versatile, skin-soothing liquid highlighter with a pearlescent finish. Smooth over the entire face as a luminous primer, tap onto cheekbones and cupid’s bow for a light- reflective highlight, or mix in with any foundation or tint to add a subtle glow. Infused with skin-soothing rose oil and three different molecular weights of hyaluronic acid for a moisture-boosting effect, the water-gel formula melts seamlessly into the skin for a softly illuminated, lit-from-within glow — no glitter, stickiness, or shine. Founded by Palestinian entrepreneurs Simi and Haze in 2022, SIMIHAZE BEAUTY reflects their international upbringing- the co-founders were born in Saudi Arabia, and grew up between Riyadh, Dubai, London and Los Angeles, where they are now based. SIMIHAZE BEAUTY is a forward-thinking beauty brand that celebrates individuality, creativity, and self-expression. They are also dedicated to humanitarian work through the IRC, PCRF, and HEAL. The co-founders’ passion and purpose is in using their network to help build true beauty and confidence in young people. LIGHTBEAM is exclusively available at regional Sephora stores and online. simihazebeauty.com EDITOR’S PICK SIMIHAZE BEAUTY’S LIGHTBEAM ↓ IMAGES COURTESY ORIS, TALATA, BEING HUMAN, AND SIMIHAZE BEAUTY Ambiance by Talata, an African luxury fragrance and lifestyle brand, has opened its first store in Dubai. Located at Dubai Ladies Club, the store offers the brand’s fragrances that are inspired by Africa’s diverse cultural heritage and landscapes—from the aromatic spices of the West to the delicate florals of the South. The brand’s signature scents blend world-class ingredients, including those from the perfume capital of Grasse, France, with the natural beauty and traditional African ingredients like baobab oil, shea butter, and aloe vera. In addition to Ambiance by Talata’s exclusive home and body fragrances, the store features a bespoke perfume-making experience, allowing visitors to craft their own personalized scents, blending high-quality fragrance oils with their unique preferences and memories. ambiancebytalata.com ↑ AFRICAN ELEGANCE Ambiance by Talata debuts in the UAE BEING HUMAN BY SALMAN KHAN →/ Being Human opens a store in Sharjah Being Human by Salman Khan now has two stores in Dubai- at City Centre Deira and City Centre Sharjah. The new store in City Centre Sharjah continues the brand’s ethos of offering fashion- forward, conscious clothing for men and women. Customers shopping at the new Sharjah store will now explore a wide range of stylish and socially conscious apparel, making their shopping experience not just about fashion, but also about giving back to society. instagram.com/ beinghumanclothingdubai
30 / ENTREPRENEUR.COM / October 2024 The truth is, all of these are part of the picture. In just a little over a decade, fintech has advanced so rapidly that our current digital payment landscape would have been almost unimaginable not too long ago. And the UAE has positioned itself at the heart of this evolution – defying a global downturn in fundraising to achieve an impressive 92% rise in fintech investment last year. This accomplishment is nothing short of remarkable. As someone who works in this field and has witnessed this momentum firsthand, I’m acutely aware of the immense potential and promise this sector holds for the 23 million small and medium enterprises (SMEs) in our region. With so much potential, it’s worth asking: What does the future hold for digital payments in the Middle East? Based on my experience as a founder and entrepreneur in this industry, I believe that three key trends will shape the future: user-centric experiences, security, and versatility. Here’s why. }Enhancing ease of access and user-centric experiences First, we’ll see an even greater focus on improving ease of access and user-centric experiences in digital payment. According to the World Bank, a lack of access to high-quality digital financial services is one of the biggest barriers for SMEs globally. This challenge is precisely why fintech companies, particularly those in digital payments, came into existence. Many digital payment providers were founded to serve market segments that legacy banking left behind. As a result, delivering superior digital experiences has become the key battleground where these companies invest most of their resources. Whether it’s developing the most intuitive interfaces or offering seamless integration with other financial tools, the goal is to make every user’s life easier. The enormous growth of SMEs across the Middle East – 72% of which predict revenue increases over the next 12 months—is driving demand for homegrown fintech companies to meet their payment needs. To give you an idea of the scale: at What’s next for digital payments in the Middle East? by FAISAL TOUKAN Future-Proofing Fintech B Fintech / W hen you think about the future of digital payments, what comes to mind? Is it the seamless interface that anticipates your needs, the convenience of instant transactions at your fingertips, or the assurance that your funds are always secure? LICENSING IS OFTEN A WEAK SPOT FOR MANY FINTECH COMPANIES, ESPECIALLY DURING THEIR GROWTH STAGES WHEN OTHER PRIORITIES TAKE PRECEDENCE.”
31 October 2024 / ENTREPRENEUR.COM / Ziina, we processed AED 550 million in digital transactions last year—that’s almost AED 1.51 million a day. And there are numerous other smaller providers operating in the sector. This growing demand from the SME sector is sure to attract new players, all vying to outcompete each other with the most innovative products. This is great news for customers, who will benefit from an ever-improving digital payment landscape. }Prioritizing security While SME owners value a streamlined user experience, they also need peace of mind—knowing that the money they handle through digital platforms is secure. Delivering this level of security assurance requires obtaining licenses from central banks and regulatory authorities, which involves meeting stringent standards in risk management, compliance, and cybersecurity. Licensing is often a weak spot for many fintech companies, especially during their growth stages when other priorities take precedence. In fact, only a limited number of digital payment providers have obtained the complete set of licenses in their jurisdictions – Revolut, one of Europe’s largest fintechs, famously waited over three years for its banking license in the UK. However, the benefits of achieving this milestone, though challenging and time-consuming, are immense for both the business and its customers. For example, securing the UAE Central Bank’s Stored Value Facilities (SVF) license, which we are proud Ziina achieved earlier this year, is crucial for any UAE-based fintech aiming to offer top-tier digital wallets and payment solutions. It demands extensive fine-tuning of risk management and compliance systems, which not only strengthens internal operations but also greatly enhances credibility with SME customers. }Embracing versatility Finally, versatility is key. Most SMEs today rely on omnichannel sales, with a presence across platforms like TikTok and Instagram, as well as physical locations like pop-up shops and stores. However, there’s a significant gap in omnichannel payment solutions for SMEs. Currently, 33% of SMEs rely on more than four financial service providers for their everyday needs. This presents an exciting market opportunity for those capable of offering comprehensive, 360-degree payment solutions. Providers that can meet the financial needs of SMEs across all channels are uniquely positioned to capitalize on this market gap and attract customers. In other words, versatility is the future of digital payments. As with user experience and security, the increasing competition in this area means that customers stand to gain the most. }Conclusion SMEs are driving a fintech revolution across the region, sparking a surge in demand for digital payments. In the UAE alone, SMEs already ac- count for over 60% of non-oil GDP, and by 2030, their numbers are set to soar to 1 million. As these businesses expand and demand more from their financial service providers, the fintech industry faces a crucial moment. The companies that deliver the most user-friendly, secure, and versatile solutions will rise above the competition. Their innovation will benefit users, contributing to the growth of a dynamic ecosystem that will shape the future of digital payments. Faisal Toukan, is the CEO and Co-Founder of Ziina, the Middle East’s fastest-growing fintech startup. A Boston College graduate, Faisal has extensive experience across consumer fintech, enterprise sales, blockchain, start-ups, and venture capital with a passion for bringing new technologies to market. https://ziina.com
32 / ENTREPRENEUR.COM / October 2024 → The co-founders of QEEN.AI: MORTEZA IBRAHIMI, co-founder and CEO, DINA ALSAMHAN, co-founder and Chief Business Officer, and AHMED KHWILEH, co-founder and Chief Technology Officer. Qeen.ai revolutionizes how businesses close deals. by TAMARA PUPIC AI-Powered Sales A s we witness how innovation fuels every facet of our lives, it is interesting to learn more about the brilliant minds who are working tirelessly behind the scenes to make it all happen. In this article, we will get an inside look at the journey of Qeen.ai (Qeen), a Dubai-based startup helping e-commerce businesses grow with proprietary, sales- oriented AI solutions, to learn more about how its founders lead these visionary projects. Qeen was launched in 2023 by a team of ex-Google employees who brought an exceptional blend of artificial intelligence (AI) expertise, product development, and startup and business track record to the project- Morteza Ibrahimi, co-founder and CEO, Dina Alsamhan, co-founder and Chief Business Officer, and Ahmed Khwileh, co-founder and Chief Technology Officer. B Tech /
33 October 2024 / ENTREPRENEUR.COM / Alsamhan explains that the trio met while still working at Google, and as AI was quickly coming into focus, the trio collectively got very excited about how this rapidly evolving technology could fundamentally reimagine the core of how online merchants operate their businesses. Since their skill sets were strongly complementary, they decided to launch Qeen.ai. “We launched in MENA because we want to contribute to the notion that real innovation and deep tech can come out of the region,” Ibrahimi says. Today, Qeen.ai’s technology helps e-commerce businesses to grow with proprietary, sales-oriented AI solutions that are simple to deploy. ”These solutions are based on AI agents, which is a type of AI that can learn from interacting with its environment and autonomously make decisions to achieve a specific goal,” Khwileh adds. “Our focus is to build domain-expert agents that intelligently automate operational functions across the sales funnel that are either largely manual today and/or carried out in silo. These agents not only can automate and optimize existing processes they will enable completely new ways of selling online.” In a short span of time, the Qeen team has managed to achieve a couple of big milestones, including raising USD$2.2 million in a pre-seed round in the last quarter of 2023, growing their team to 22 staff, and launching the Qeen.ai’s content agent that generates product content that optimizes towards sales in 2024, which, Alsamhan explains, “currently achieves uplifts of +30% on add-to-carts.” Speaking about their future plans, Alsamhan adds, “We are excited to complement our dynamic content solution by expanding the scope of our agents to address broader challenges across the sales funnel- we are currently working on an interactive sales agent that will be able to intelligently handle customer queries and surface highly relevant product options to them. And, over the course of 2025, we aim to cover more and more critical parts of the sales funnel, such as customer acquisition.” Khwileh adds that a part of Qeen.ai’s success lies in the fact that effective AI solutions are currently in high demand. “From the many conversations we are having with different stakeholders, we see so much enthusiasm about AI across the board- investors are looking for the right, defensible opportunities that can have global potential, and businesses are hungry for the right AI solutions that can tangibly help them grow and solve business challenges,” he explains. “This makes for a fertile ground for innovative companies that have the ability to home in on the most salient pain points and build effective solutions to solve them.” Summing up their experience of building Qeen.ai so far, Ibrahimi finds it crucial to truly enjoy what one is doing. “Building a startup is really hard and it is not worth it if you are not enjoying the journey and have a goal beyond just the potential monetary reward,” Ibrahimi says. “We hire only the people we respect and can add something new to the team. We have an experimentation and iteration mindset, and are open to adapting our plans as per the market’s feedback. We like to talk to as many people and businesses as possible to keep a fresh view of where challenges and opportunities lie. We know where we want to go, but are cognizant that the way to get there isn’t set in stone.” BUILDING A STARTUP IS REALLY HARD AND IT IS NOT WORTH IT IF YOU ARE NOT ENJOYING THE JOURNEY AND HAVE A GOAL BEYOND JUST THE POTENTIAL MONETARY REWARD.” } FOCUS AS MUCH AS YOU CAN “You can’t do everything you would like to do, so you have to be ruthless in how you prioritize and utilize available resources; and divide and conquer wherever possible - it helps to be a cofounding team of three. } BE COMFORTABLE WITH YOUR SCOPE BEING ‘FLEXIBLE’ FOR A WHILE “Everyone joining the company, especially in the early stages, has not only to be comfortable with ambiguity, but they have to thrive in it.” } IT’S ALL ABOUT THE PEOPLE “If you can find partners that share your values and complement your skills, don’t go it alone. Then, an inordinate amount of time will be spent on recruiting talent.” Qeen.ai’s Co-Founder And Chief Business Officer Dina Alsamhan Advises Entrepreneurs 'TREP TALK
34 / ENTREPRENEUR.COM / October 2024 B/Tech → Ahmad AlZaini is the co-founder and CEO of Foodics. R estaurant owners often face challenges in maintaining profitability due to the difficulties in managing inventory and implementing a seamless payment process, all while trying to deliver exceptional customer service and juggling numerous operational tasks. Back in 2014, Ahmad AlZaini, co-founder and CEO of Foodics, decided to tackled a number of these challenges, disrupting traditional restaurant management along the way. Over the years, Foodics has developed innovative tools and solutions that have fulfilled its mission- to simplify restaurant management and transform the way restaurants operate, allowing their owners to focus on serving exceptional food and creating a memorable experience for customers. How Saudi Arabia-based Foodics disrupts traditional restaurant management. by TAMARA PUPIC Breaking the Mold
35 October 2024 / ENTREPRENEUR.COM / “Foodics offers a cloud-based, all-in-one restaurant management system (RMS) and point of sale solution (POS) that help streamline restaurant operations and bring efficiency for restaurant owners and F&B businesses,” says AlZaini. “Foodics’ tools and solutions transform every aspect of restaurant management, including front-of-house (service management), back-of-house (kitchen operations and management), back office (inventory and warehouse management, accounting and finance) menu creation, online ordering and delivery, and more.” In that manner, Foodics’ product ecosystem has made a significant impact in the F&B industry as it helps in enhancing operational efficiency, improving accuracy, reducing human errors, driving growth and elevating customer experiences. Today, Foodics has operating offices in five countries (UAE, Saudi Arabia, Kuwait, Egypt, Jordan), It employs more than 650 people who serve OUR AIM IS TO ENSURE THAT EVEN SMALLER RESTAURANT BUSINESSES HAVE ACCESS TO THE FINANCIAL TOOLS AND RESOURCES THEY NEED TO SUCCEED AND THRIVE IN THE COMPETITIVE MARKET.” “ Foodics Kiosk - a self- ordering and self-checkout solution that increases restaurant revenue by boosting the average order size per customer and fulfilling more orders during peak hours. It enhances operational efficiency by reducing long queues, minimizing order errors, lowering restaurant costs, while empowering customers to place and pay for orders. Foodics Customer Display Screen - a tool that allows customers to view and confirm their order details and make any necessary changes before they are sent to the kitchen. This improves accuracy, increases efficiency and brings a seamless order experience for customers. Foodics Pay - a secure payment solution integrated with Foodics’ POS system, enabling restaurants to accept all payment methods. It accelerates restaurant operations by offering customers a fast, secure checkout experience with multiple payment options. It ensures a system to streamline payment operations by eliminating manual entry to speed up the process and avoid typing mistakes. Foodics Pay at Table (available in limited markets) – allowing guests to scan QR codes to view, split and pay their bill directly at the table. Foodics Cashier App - an app that enables staff to manage payments, orders, table reservations, employee attendance from a single screen, enhancing workflow efficiency. Foodics Sub Cashier App equips staff with a smart device to take orders, process payments during dine-in with Foodics Pay, allowing customers to conveniently order and pay from their seats and helping staff bring precision and speed during rush hours. Foodics Online - an online platform that allows restaurants to launch their digital branch in record time through a convenient online ordering, commission-free platform. It maximizes profits, allows restaurants to save on every order compared to third-party apps, brings a hassle- free operation by tracking every order status, allows restaurants to collect customers’ data and preferences to target them efficiently. It also offers a convenient website/app for ordering services and electronic payment solutions. Foodics Marketplace - a marketplace that collaborates with over 100+ third-party apps for direct and seamless integration into the Foodics POS system. These marketplace apps provide advanced restaurant tools and solutions that can enhance the restaurant or cafes capabilities such as delivery, marketing, accounting, Business Intelligence and more. Foodics Kitchen Display Screen - a tool for seamless back-of-house operations which elevates the kitchen operations and enables efficient meal preparation as it allows kitchen staff to view orders, process them and notify waiters or customers when done. Foodics Inventory Management - a solution that helps restaurant owners get insights on inventory consumption and track the usage of ingredients, allowing them to plan ahead and reduce food wastage substantially. Foodics Accounting – a smart and comprehensive accounting and financial management solution tailored for restaurants. It simplifies financial management by offering integrated accounting with real-time insights, profitability tracking, helping restaurants manage finances efficiently. Foodics at a glance Foodics’ tools and solutions designed to empower restaurant owners
36 / ENTREPRENEUR.COM / October 2024 B/Tech over 30,000 F&B outlets in over 35 countries. “In the UAE alone, approximately 1,850 restaurants use Foodics services, with more than 60% of the restaurants having been the company’s customers for over two years,” AlZaini says. “Since its inception, we have successfully processed over six billion transactions through the Foodics platform.” AlZaini’s achievements with Foodics have not gone unnoticed by investors- In 2021, Foodics raised US$20 million in a Series B funding round led by Sanabil Investments, a firm wholly owned by Saudi Arabia’s Public Investments Fund (PIF) and co-led by Saudi Technology Ventures (STV). Then, in 2022, it successfully raised $170 million in the largest software-as-a-service (SaaS) C funding round in the MENA region which was led by Prosus, an Amsterdam-headquartered global investment group, and Sanabil Investments, a (PIF)-owned investment company focused on private growth investments in various stages of the business cycle. Other investors included Sequoia Capital India and existing investors including STV, Endeavor Catalyst, and Vision Ventures. When planning the growth strategy for Foodics, AlZaini often relied upon strategic brand partner- ships across the MENA region, such as partnering with global payments platform Adyen. “Through this, Adyen powered Foodics Pay UAE with its smart POS terminals, which guarantee speed in every transaction and provide guest insights so restaurants can better understand their guests, enhance the dining experience, avoid manual entry mistakes and decrease reconciliation time,” AlZaini says. In the UAE, Foodics partnered with the UAE Ministry of Economy to support and foster the growth of SMEs locally and globally, and the International Centre for Culinary Arts Dubai (ICCA), a world-class culinary learning center to foster food tech skills across the F&B sector. “Also in 2022, we part- nered with Entrepreneur- ial Nation to launch an initiative to support the digital transformation of UAE’s F&B startups and growing companies,” AlZaini explains. “This initiative provided benefits and incentives that enhanced the access of SMEs to new market opportunities.” Speaking of his future plans, AlZaini remains committed to continue making a significant impact in the F&B industry. “While expanding into new markets, particularly emerging ones, remains one of our top priorities, we are equally focused on driving innovation and refining our tools and solutions that help in transforming how restaurants operate,” he says. “Our goal for the near future is to leverage advanced technologies, such as predictive analytics and AI tools not only to manage and streamline restaurant operations but also to optimize every aspect of a restaurant business.” On the fintech SET OUT A CLEAR AND ACTIONABLE GOAL OR VISION FROM THE OUTSET. ONCE THAT IS IN PLACE, MAKE SURE YOU STAY FOCUSED AND FULLY COMMIT TO IT, UNDERSTANDING THAT SUCCESS REQUIRES DEDICATION AND PERSEVERANCE.”
37 October 2024 / ENTREPRENEUR.COM / side, the Foodics team is dedicated to empowering F&B businesses with accessible financial tools like micro-lending. “Our aim is to ensure that even smaller restaurant busi- nesses have access to the financial tools and resources they need to succeed and thrive in the competitive market,” AlZaini adds. It’s fair to say that Foodics is thriving, and AlZaini credits some of that success to setting out a clear and actionable goal or vision from the outset- which is also his advice to newcomers to the business world. “Once your vision is in place, make sure you stay focused and fully commit to it, understanding that success requires dedication and perseverance,” he adds. “It is also crucial to conduct thorough market research to ensure you are well- informed and equipped to face and tackle any challenges that may arise along the way. Most importantly, be persistent in the goals you wish to achieve.” However, AlZaini also advises polishing one’s approach in order to learn from any setbacks that come up and continue pushing forward until the goal is reached. “With unwavering focus and determination, success is always within reach,” AlZaini concludes. “Ad- ditionally, invest your time in reading business success stories and network- ing with like-minded individuals and entrepreneurs.” } STAYING AHEAD OF EVOLVING CONSUMER TRENDS “While consumer needs and preferences are rapidly evolving in today’s fast-paced market, taking the time to research and understand these needs is key. Actively analyzing customer feedback and adapting our offerings accordingly has been instrumental in the success of Foodics and driving our company forward.” ADAPTABILITY IS KEY “The foodtech industry is dynamic and the ability to adapt quickly is crucial. Whether it involves embracing new and emerging technologies or responding to shifts in the market, maintaining flexibility has enabled us to develop and tailor innovative solutions for restaurants and remain competitive. By being adaptable, we are able to meet the ever-changing demands of the industry.” THE IMPORTANCE OF BUILDING A STRONG TEAM “Surrounding yourself with a dedicated and skilled team that shares the same vision and has the drive to achieve the same business goals as you, plays a huge role in the success of your company. Having a strong team has been a driving factor to Foodics’ growth and success across the MENA region, allowing us to tackle challenges effectively and embrace new opportunities.” Foodics co-founder and CEO Ahmad AlZaini shares his main learnings from starting up Foodics in the MENA region. 'TREP TALK
38 / ENTREPRENEUR.COM / October 2024 The voice of entrepreneurship around the world Access fresh content daily on our website
39 October 2024 / ENTREPRENEUR.COM / Being different in the corporate world is often frowned upon, but should it be? by SARAH KANJI Untangling Dyslexia Misconceptions }What is neurodiversity? It’s the idea that all brains work differently in areas like learning, attention, and social interaction - opening the door to fresh “minty” perspectives and creative ideas that traditional systems often miss. One in five people are neurodivergent, as per Neurodiversity online magazine. This select 20%, is invaluable (if you pay attention) and could revolutionize your business. Yet, we’re still stuck with outdated ideas that see these differences as obstacles rather than advantages, leaving 30–40% of neurodiverse adults unemployed — eight times higher than neurotypicals, the majority of the world’s population. YOU DIDN’T NOTICE THAT THE SIZE OF THIS HEADER DIFFERS FROM THE OTHERS? A neurodivergent individual would spot the change - despite only a 0.5 font-size difference, it bothers me. }} W hat if your company’s next big idea doesn’t come from the loudest voice in the room but instead, from someone whose brain works differently — someone who is neurodivergent? If someone had not listened to a different perspective, we would not have iPhones, Teslas, or even Microsoft Teams (aside from Bill Gates, most people may not complain about this one). Being different is a struggle and we’ve all been there. To be specific, 70% of people have had at least one moment, whether it’s not getting the joke, bombing a subject in school, or being the only one who thinks mint chocolate chip ice cream isn’t absurd. But differences spark innovation and push boundaries. After all, someone liked the taste of toothpaste enough to invent the ice cream flavor. B Insights /
40 / ENTREPRENEUR.COM / October 2024 prepare contingency plans from a young age, to adapt to societal standards. For instance, I knew a girl who discovered early on that she communicated more effectively by speaking versus writing. To adapt, she dictated a draft to a computer rather than struggling to organize her thoughts on paper. This “problem-solving” strength is instrumental in the corporate world, where precision and speed are key. While traditional workplaces often label neurodivergence as a limitation, forward-thinking companies like the company that created Teams, along with NASA and EY, actively recruit neurodivergent talent to boost innovation. These individuals tend to outshine their peers by spotting errors and solving complex problems that others often overlook; making them indispensable (do you notice the font-size difference now?). }Under-appreciated problem solving ~ Dyslexic Thinking Not exclusive to dyslexics, this form of thinking is a fresh perspective where neurodivergents use pattern recognition, spatial reasoning, lateral thinking and interpersonal communi- cation to assess information and essentially; problem-solve. Hence, finding unexpected solutions that are out of reach for others, dyslexic thinkers tend to approach challenges uniquely. This skill is about identifying visual patterns and also extends to B Insights / Particularly, those with ADHD, autism, or dyslexia would notice. These individuals often have a unique ability to hyper-focus on tasks and observe specific details. Harriet Lewis, fellow neurodivergent from Catch Communications, once said she could “hyperfocus on creative ideas for hours, find solutions to problems without getting weighed down by small details, and zoom out to view the big picture on projects.” The science backs it up too; dyslexics have heightened pattern recognition skills, enabling them to pick up on trends and details that others may miss. This stems from different brain-wiring but is also nurtured by having to STUDIES SHOW THAT COMPANIES WITH DIVERSE TEAMS, INCLUDING NEURODIVERGENT EMPLOYEES, ARE 35% MORE LIKELY TO OUTPERFORM THEIR COMPETITION.” “
41 October 2024 / ENTREPRENEUR.COM / recognizing trends and systemic issues in data, processes, and even human behavior. Additionally, by seeing things from multiple perspectives, neurodiver- gent leaders often excel in people-centric roles, offering an ability to understand the needs of various stakeholders, employees, and clients. (A simplified conceptual model derived from the World Economic Forum displaying neurodiversity characteristics and the outcomes) Maja Pawinska Sims, PR professional from PRovoke Media, says neurodivergents are “a remarkably good fit” for our industry while highlighting creativity, problem-solving, hyper-focus, and spotting links and patterns — all elements that keep clients/ journalists very happy. By learning preferences and connecting similar situations together, it pre-empts issues and mitigates error repetition; kind of like a human mind reader. Because it’s not just about putting out fires — it’s about spotting issues before the flame becomes too big to extinguish. So, maybe, it’s time the corporate world stops looking for people to fit in and rather embrace the unique ways that peoples’ minds work. }Want to revolutionize your workplace? As more companies embrace neurodiversity, the environment must adapt to truly unlock neurodivergent employees’ full potential. Whether offering flexible work hours, creating sensory-friendly office spaces or cultivating leadership programs that highlight neurodiverse strengths, there needs to be a give and take. Despite the Department of Health protecting our rights with the People of Determination laws, it’s not so easy to disclose as we’ve all (including myself) heard comments like, ‘I would have never known.’ While well-intentioned, these remarks can feel invalidating. What truly makes the difference — is creating an environment where people feel safe to be open about their neurodivergence. In today’s fast-moving world (yes-rookie ChatGPT phrase), where AI has become everything, the corporate landscape is slowly waking up to the idea that neurodivergent individuals offer exceptional value, not despite their differences but because of them. Studies show that companies with diverse teams, including neurodivergent employees, are 35% more likely to outperform their competition. I can’t help but think this is true as my brain is always in overdrive, constantly drawing connections—whether it’s quickly locating a media contact shared in the PR group chat, integrating abstract ideas I’ve overheard into client communications or making a toothpaste ice cream joke— you probably forgot about at this point. In this act-quick-move- fast world (advanced-Chat- GPT phrase), there is so much untapped potential in neurodivergent employees, meaning; their ability to think outside the box isn’t just a nice-to-have — it can be the “refreshing” flavor to staying ahead (like my unique metaphors). Sarah Kanji is an Account Executive at Atteline, specializing in communications and public relations. She holds a degree in Business Management and Luxury Brand Strategy from Switzerland, with experience working across major global brands. As a neurodivergent professional, Sarah brings a unique perspective to her work, excelling in VIP event management, social media strategy, and partnerships. At Atteline, she leads in crafting engaging content, managing media and influencer relations, and ensuring the flawless execution of events. WHILE TRADITIONAL WORKPLACES OFTEN LABEL NEURODIVERGENCE AS A LIMITATION, FORWARD-THINKING COMPANIES, LIKE NASA AND EY, ACTIVELY RECRUIT NEURODIVERGENT TALENT TO BOOST INNOVATION.”
42 / ENTREPRENEUR.COM / October 2024 The Golden Quarter—encompassing Black Friday, Cyber Monday, the lead-up to Christmas and everything in between—marks the most critical shopping season of the year, with 2x more shopping occasions on average compared to previous quarters of the year. For small businesses, it can represent a substantial share of their annual revenue. As consumer trends shift, shoppers are increasingly turning to platforms like TikTok to guide their purchasing decisions. This period presents a pivotal moment for businesses to adapt and capture attention, as savvy consumers seek both savings and inspiration from trusted content channels. As a result, businesses have a prime opportunity to adapt digital marketing strategies to align with evolving consumer preferences and tap into the shopping surge across the GCC. Maximizing Shopping Season HERE’S WHY TIKTOK IS THE BEST PARTNER OF SMALL AND MEDIUM BUSINESSES IN Q4 ADVERTORIAL
43 October 2024 / ENTREPRENEUR.COM / Q4 is a season-long shopping opportunity on TikTok Promotions or not, TikTok users are shopping consistently throughout the quarter. And while traditional, promo-driven events still sparked demand spikes, a significant 64% of transactions on TikTok happened outside of these promotional windows. Throughout the final stretch of the year, audiences weren’t just passively consuming shopping related content, they were actively seeing it out and making purchases based on recommendations on our platform, with 87% of audiences taking action within a week of watching an ad on TIkTok, and 67% claiming they are likely to buy from a brand after seeing a TikTok Shopping Ad. Leveraging TikTok throughout Q4-not just during key promotional moments- enables brands to maintain consistent engagement and fuel sustained growth during this busy shopping season. By staying engaged across multiple touchpoints in the purchasing journey, brands can remain top of mind throughout the coveted Golden Quarter, driving stronger results. Sustained activation and engaging content beat one-time promotions Research shows that brands that activate their marketing efforts throughout the Golden Quarter see substantial benefits. For instance, campaigns on TikTok lasting over three months are more than twice as likely to lead to conversions, emphasizing the importance of sustained engagement. Likewise, 79% of these brands report reduced cost-per-action (CPA), while 44% experience increased conversion rates from add-to-cart to purchase. For businesses with limited budgets, creating entertaining, engaging content is crucial for success on TikTok during the Golden Quarter. Authentic storytelling empowers consumers to make informed purchasing decisions by resonating with their lifestyles, transforming curiosity into action. Brands are increasingly focusing on creating engaging, value-driven content that not only entertains but educates. By tapping into trending challenges, popular sounds, and unique formats like live cooking shows, businesses can connect with TikTok’s communities without hefty media investments. These connections can turn casual viewers into loyal customers, as audiences engage with content they genuinely enjoy, paving the way for long-term brand loyalty. A well-thought-out continuous Q4 strategy can help create communities and remain relevant without major media investments. Maintaining a consistent posting schedule is incredibly helpful with this approach, as regularly sharing content helps build and retain audience interest, while also improving the chances of appearing on users’ For You Pages. This consistency allows brands to nurture relationships with their communities over time, turning them into loyal customers not just during the Golden Quarter, but long after. As a result, customers will likely begin to recognize the brand’s content and look forward to engaging with it regularly. Brands that successfully utilize real-time marketing on TikTok can effectively capture the attention of potential customers during the Golden Quarter and beyond by fostering these authentic connections with their communities SMBs can drive growth with continuous Q4 engagement As small businesses prepare for the Golden Quarter, activating throughout Q4 on TikTok can significantly enhance their ability to engage with customers and drive sustained growth. This approach not only allows businesses to capitalize on the heightened shopping activity during this period but also sets the tone for long-term success. By consistently sharing authentic and engaging content, businesses can foster a sense of community. This can help capture consumers who are increasingly seeking value and connection. Businesses that maintain regular engagement through TikTok can nurture these relationships, encouraging repeat purchases and brand loyalty. The platform’s ability to blend entertainment with commerce keeps offerings top-of-mind, making it easier for consumers to discover and engage with products. All in all, in the fast-paced environment of Q4, TikTok empowers SMBs to fully capitalize on the “Golden Quarter” beyond the typical promotional peaks, while protecting their brands from the diminishing returns of a purely promo-driven approach. For SMBs, maintaining consistency, harnessing creativity, and prioritizing customer engagement are essential to transforming curiosity into action and achieving sustained success throughout the Golden Quarter and beyond. CAMPAIGNS ON TIKTOK LASTING OVER THREE MONTHS ARE MORE THAN TWICE AS LIKELY TO LEAD TO CONVERSIONS, EMPHASIZING THE IMPORTANCE OF SUSTAINED ENGAGEMENT. “
44 / ENTREPRENEUR.COM / October 2024
The 44th edition of the annual Dubai-based tech and startup event GITEX Global, which is taking place at Dubai World Trade Centre on October 14-18, 2024, is set to feature a stellar line-up of speakers and host delegates from 180 countries. Spanning across two mega venues in the UAE— the Dubai World Trade Centre and Dubai Harbour- and 40 halls, the event promises to offer a glimpse into the future of technology. The 2024 edition features three summits, Gitex Global, Expand North Star, and Superbridge Summit, with each running multiple tracks that cover the most comprehensive set of topics. Gitex Global The 2024 edition of Gitex Global will see artificial intelligence (AI) take center stage as the UAE is increasingly becoming recognized as the fastest-growing international hub for AI experts, leaders, academics and top voices in the industry. With over 3,500 of the world’s leading brands investing in AI solutions coming to Dubai, the event will showcase breakthrough AI technologies and forge key collaborations to catalyze further advancements in the industry. Aligned with Dubai’s ambition to be the home of 30 startup unicorns by 2030, GITEX Global 2024 will also feature GITEX Editions, a program for accelerating scaling and global governance for high-growth companies. Expand North Star 2024 Hosted by Dubai Chambers, Expand North Star is a vital part of GITEX Global , as it offers startups a platform to showcase their innovations in various sectors. In its 2024 edition, Expand North Star is set to feature over 2,000 startups, including 400 startups from Europe which is the event’s largest participation from Europe to date. Superbridge Summit The second edition of the SuperBridge Summit 2024, a two- day summit coinciding with GITEX Global, is being held under the theme “Innovate for Next Gen.” It will explore diverse elements shaping the future of global economy, across five key topics- economic powerhouse, technology and industrial transformation, leadership and human equity, life and wellbeing, and wealth and investment. With so much going on, how can anyone choose which session to attend? The Entrepreneur Middle East team brings you picks for the top sessions at the event. 45 October 2024 / ENTREPRENEUR.COM / | WWW.GITEX.COM | GITEX Global 2024 Focuses On Forging A Future Artificial Intelligence-Powered Economy The world’s largest technology exhibition, GITEX Global, returns for its 44th edition, bringing together tech innovators, startups, and investors from across the globe.
EDITOR’S PICKS OF SESSIONS NOT TO BE MISSED | WWW.GITEX.COM | → 12:10 PM - 12:30 PM, OCTOBER 14, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Tech-Champions: Lessons from App Olympics Winners by Dubai Chamber of Digital Econ- omy This panel discussion will highlight the insights and experiences of past winners from the App Olympics, who will share the valuable lessons they learned during the competition and help kick off the next edition. → 12:35 PM - 1:05 PM, OCTOBER 14, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Panel Discussion with App Olypmics Alumni by Dubai Chamber of Digital Economy The Synergy of Mobile Apps, AI, and Human Connectivity: A New Technological Era Industry leaders will delve into the trans- formative power of technology and inno- vation, with a focus on mobile apps and disruptive market strategy. → 1:05 PM - 1:30 PM, OCTOBER 14, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR AI by the People, AI for the Peo- ple: Democratizing AI and Solv- ing Grassroot Innovation Hear from the Karya featured on the cover of the TIME Magazine, and nominated Time Magazine’s 100 Most Influential People In AI. While building an AI-genera- tive model for India’s 125 languages with Google, discover how countries can solve quality data problems and create AI jobs for non-tech people. *MANU CHOPRA| CEO, KARYA, USA → 1:45 PM - 2:15 PM, OCTOBER 14, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR AI Unicorns on How to Build a Magnetic Product In the world of consumer tech, we often judge a product based on its stickiness — once a user tries it out, how often do they come back to it? While there is no one size fits all approach to stickiness, all popular consumer apps have this trait. In this session, the CEO of Perplexity and 10X Expand North Star Summit / 46 / ENTREPRENEUR.COM / October 2024
CPO of Picsart will speak candidly about what it takes to deliver a stellar user experience that stands out from the alternatives and has people constantly coming back for more. ARAVIND SRINIVAS| CO-FOUNDER AND CEO, PERPLEXITY, USA DR. MIKAYEL VARDANYAN| CO-FOUNDER AND COO, PICSART, USA → 3:30 PM - 3:50 PM, OCTOBER 14, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR What Does it Take to Scale the World’s Biggest Web3 Gaming Empire to IPO? YAT SIU| CO-FOUNDER AND EXECUTIVE CHAIRMAN, ANIMOCA BRANDS, HONG KONG SPECIAL ADMINISTRATIVE REGION ROBBY YUNG| CEO AND PARTNER, ANIMOCA BRANDS, HONG KONG SPECIAL ADMINISTRATIVE REGION → 12:40 PM - 1:00 PM, OCTOBER 15, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STARDUBAI HARBOUR Will Everyone Have a Chip in Their Brain Someday? STEVEN HOFFMAN| VENTURE INVESTOR, AUTHOR; AND CHAIRMAN AND CEO, FOUNDERS SPACE, USA → 2:35 PM - 3:00 PM, OCTOBER 15, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR GenAI and Brand Creation NEIL PATEL| CO-FOUNDER, NP DIGITAL, USA → 1:10 PM - 1:30 PM, OCTOBER 16, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR From Hype to Reality: Under- standing Global AI Trends and Adoption CHIARA MARCATI| PARTNER, MCKINSEY AND COMPANY, UAE → 1:50 PM - 2:10 PM, OCTOBER 16, 2024 HALL 8, 10X MAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR End of Traditional Agencies: The Impact of AI on the Adver- tising and Marketing Industries -What are the challenges and opportuni- ties associated with using AI in marketing? -Exploring how AI-powered tools are enabling hyper-personalized campaigns, challenging the creative dominance of traditional agencies -Understanding the opportunities AI creates for innovation and efficiency, and the existential threats it poses to estab- lished agencies. SIR MARTIN SORRELL| FOUNDER AND EXECUTIVE CHAIRMAN, S4 CAPITAL PLC, UK 47 October 2024 / ENTREPRENEUR.COM /
EDITOR’S PICKS OF SESSIONS NOT TO BE MISSED | WWW.GITEX.COM | → 12:20 PM - 1:00 PM, OCTOBER 13, 2024 HALL 10, FUTURE OF MONEY EXPAND NORTH STAR DUBAI HARBOUR Conversation Circle | Follow the Money: The Real ROI of Fintech Investments What are the real outcomes of investing in FinTech? Are we seeing genuine opportu- nities or mere illusions? Grounded in current events such as notable IPOs, regulatory updates, and the rapid digital transformation accelerated by the pan- demic, this session aims to provide a thorough examination of the financial realities and potential shifts within FinTech investments. NINA TRIANTIS| GLOBAL HEAD: TELECOMS, MEDIA AND TECHNOLOGY, STANDARD BANK GROUP, UK ELIAS YAZBECK| MANAGING DIRECTOR, FINTECH AND FINSERV, HELIOS INVESTMENT PARTNERS, UK SAID MURAD| SENIOR PARTNER, GLOBAL VENTURES, UAE SUZY AL ZEERAH| CHIEF OPERATING OFFICER, BAHRAIN FINTECH BAY KENNY MAN| MANAGING PARTNER, 01FINTECH, HONG KONG SPECIAL ADMINISTRATIVE REGION → 1:50 PM - 2:30 PM, OCTOBER 14, 2024 HALL 10, FUTURE OF MONEY EXPAND NORTH STAR DUBAI HARBOUR Speed of Light—Building & Regulating the Future of Digital Finance The Chicken or the Egg conundrum arises when grasping which comes first in fintech. Whether governments are chasing behind, keeping up, or ten steps ahead of technological transformation in finance, there’s no mistake that there’s no slowing down. How are digital pio- neers and lawmakers able to synchro- nize? Are there evident gaps where each needs the other to step up and step in? What does the ideal collaboration format look like. ROCHAK AGRAWAL| EXECUTIVE DIRECTOR, UBS, SINGAPORE DAVE MURPHY| HEAD OF FINANCIAL SERVICES EMEA & APAC, PUBLICIS SAPIENT, UK AZRA AHMED| GROUP CHIEF RISK AND COMPLIANCE, GEIDEA PAYMENT LLC, UAE GABRIELLE INZIRILLO| HEAD OF ECOSYSTEM DEVELOPMENT: FINANCIAL SERVICES REGULATORY (FSRA) ABU DHABI GLOBAL MARKET (ADMG), UAE BEN LEAKEY| DIRECTOR, PUBLIC POLICY (TECHNOLOGY SECTOR), NGC INTERNATIONAL ADVISORY, AN APCO COMPANY, UK → 12:15 PM - 1:00 PM, OCTOBER 15, 2024 HALL 10, FUTURE OF MONEY EXPAND NORTH STAR DUBAI HARBOUR “Coopetition” Once predicted rivalries between financial institutions and fintechs currently appear to be moving toward partnerships and cooperation. At a basic level, this makes sense - banks have the licenses and the customers, and fintechs help banks become more tuned-in and responsive to their client’s, keeping them competitive. Will relationship dynamics always be harmonious? Will banks become the customers of fintechs? Are they already? Or will banks, with access to hefty re- sources, just absorb them. Do fintechs need to strike a balance with banks, retaining competition with them while identifying areas of cooperation too? Are we entering an age of on-going Coopeti- tion? ANJALI AGGARWAL| HEAD OF BUSINESS GCC, NOON PAYMENTS, NOON, UAE SAAD ANSARI| CHIEF EXECUTIVE OFFICER, XPENCE, UAE Fintech surge - Future of money / 48 / ENTREPRENEUR.COM / October 2024
World Future Economy Digital Leaders Summit / RONIT GHOSE| GLOBAL HEAD - FUTURE OF FINANCE, CITI, UK MOHAMED MANSOUR| HEAD OF REGION, REMITLY, UAE ANDREW MCCORMACK| CHIEF OPERATING OFFICER, AL ETIHAD PAYMENTS, UAE → 1:20 PM - 2:00 PM, OCTOBER 16, 2024 HALL 10, FUTURE OF MONEY EXPAND NORTH STAR DUBAI HARBOUR Interactive Session | Entrepreneurial Mindset—Owner, Founder & CEO Step into the mindset of an entrepreneur and discover the distinct responsibilities tied to being an owner, founder, and CEO. In this dynamic, audience-led session, seasoned CEOs will share real-life experi- ences, offering a rare behind-the-scenes look at their challenges and successes. What does it truly take to lead a company to success? Engage in thought- provoking discussions that delve into the unique pressures and possibilities each role brings. Unlock the secrets of effective leadership, ignite your entre- preneurial spirit, and prepare to elevate your business in this immersive, interactive experience! SARAH FITZMORRIS| CO-FOUNDER AND CEO, EXECUTIVES IN AFRICA, UK CHRIS FOLAYAN| FOUNDER AND CEO, FOUNDER CENTERED, USA GLORIA MACEIKO| MANAGING DIRECTOR, SILICON VALLEY ADVANTAGE, USA MIKE SIGAL| FOUNDER, SIGAL VENTURES, PORTUGAL 49 October 2024 / ENTREPRENEUR.COM / → 12:50 PM - 1:20 PM, OCTOBER 16, 2024 HALL 25, MAIN STAGE, GITEX GLOBALDUBAI WORLD TRADE CENTRE With Brett Johnson who Turned Card Fraud into a Multimillion Empire DANNI BROOKE| INVESTIGATION & INTELLIGENCE EXPERT, UK CRAIG JONES| IMMEDIATE PAST DIRECTOR CYBERCRIME, INTERPOL, UK ANDRIA DELIA| CYBER THREAT INTELLIGENCE EXPERT, DIRECTOR, CIBPA, CANADA BRETT JOHNSON| ONCE AMERICA’S MOST WANTED, NOW A LEADING EXPERT ON CYBERCRIME & IDENTITY THEFT, DUBBED THE SECRET WEAPON BY THE FBI UNITED STATES OF AMERICA.
EDITOR’S PICKS OF SESSIONS NOT TO BE MISSED | WWW.GITEX.COM | → 2:15 PM - 2:45 PM, OCTOBER 14, 2024 HALL 10, AI STAGE GITEX GLOBAL DUBAI WORLD TRADE CENTRE Regulating Tech: The Intersection Of Tech, Crime And Law AXEL VOSS| MEMBER OF PARLIAMENT, EU PARLIAMENT, BELGIUM KAI ZENNER| HEAD OF OFFICE AND DIGITAL POLICY ADVISOR, EU PARLIAMENT, BELGIUM DIDIER JACOBS| HEAD OF ICT AND CHIEF AI OFFICER, EUROPOL, NETHERLANDS MINESH TANNA| GLOBAL AI LEAD AND PARTNER, SIMMONS & SIMMONS, UNITED KINGDOM → 4:05 PM - 4:25 PM, OCTOBER 14, 2024 HALL 10, AI STAGE GITEX GLOBAL DUBAI WORLD TRADE CENTRE Embracing Complexity Dr. Vogels will share some of the critical lessons and strategies he has learned for managing increasingly complex systems during his 20 years as CTO of Amazon. DR. WERNER VOGELS| VP AND CTO, AMAZON, UAE Ai Everything / 50 / ENTREPRENEUR.COM / October 2024 → 1:40 PM - 2:10 PM, OCTOBER 15, 2024 HALL 10, AI STAGE GITEX GLOBAL DUBAI WORLD TRADE CENTRE Unlocking Creativity Using Multi Modal AI The biggest consensus that CTOs, CIOs and Chief Ai Officers need to agree include: Data diversification is time consuming; can acquiring additional computational power help? How can data efficiency and model stability be balanced? Less is more or more is less? CAROLINE YAP| MD - GLOBAL AI BUSINESS & APPLIED ENGINEERING, GOOGLE CLOUD, USA DR. CHAOUKI KASMI| CHIEF INNOVATION OFFICER, TECHNOLOGY INNOVATION INSTITUTE (TII), UAE KAZUHIRO GOMI| PRESIDENT AND CEO, NTT RESEARCH, INC, USA SABINA MIRZA-AKHMEDOVA| CEO, MAPPABLE WORLD, UAE → 11:40 AM - 12:00 PM, OCTOBER 18, 2024 HALL 25, MAIN STAGE GITEX GLOBAL DUBAI WORLD TRADE CENTRE The power of AI and role of AI in the future of work Impact of AI on the future work, labor markets, and the skill-based economy. How is AI paving the way for the winning skillsets of the future? How can AI create a flywheel effect in re- search? CHRIS DUFFEY| FUTURIST AND HEAD OF GENSTUDIO, ADOBE, USA
Future Blockchain Summit / 51 October 2024 / ENTREPRENEUR.COM / → 11:30 AM - 12:00 PM, OCTOBER 13, 2024 | HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR The Rise of Web3 Venture Capi- tal - Insights from Leading In- vestors DR. MARWAN ALZAROUNI| CEO OF AI, DUBAI DEPARTMENT OF ECONOMY & TOURISM, UAE DANILO CARLUCCI| FOUNDER AND CEO, MORNINGSTAR VENTURES, SWITZERLAND → 12:35 PM - 1:05 PM, OCTOBER 13, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Blockchain Investments: Stra- tegic Insights for Institutional Players Institutional adoption of blockchain tech- nology is accelerating as organizations leverage its potential for high returns and enhanced security, while meticulously managing risks and adhering to regulatory requirements. The market is poised for substantial growth, with expanding block- chain investments, new asset classes, and a rising role for digital securities. Looking ahead, investment strategies are expected to evolve with a focus on tokenizing traditional assets and embracing decentral- ized finance (DeFi) innovations, which promise to transform financial landscapes and broaden investment opportunities. OLIVER VON WOLFF| FOUNDER AND CEO, HELION EDGE, GERMANY MANSOOR MADHAVJI| PARTNER, BLOCKCHAIN FOUNDERS FUND, SINGAPORE JOHN FAN| VENTURE PARTNER, INCEPTION CAPITAL, USA MARCEL KASUMOVICH| DEPUTY CHIEF INVESTMENT OFFICER, COINBASE ASSET MANAGEMENT, UAE → 1:05 PM - 1:20 PM, OCTOBER 13, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Investing in Blockchain: Opportunities and Challenges in 2024 MIKE WILLIAMS| CHIEF COMMUNICATION OFFICER, TOOBIT, CAYMAN ISLANDS
52 / ENTREPRENEUR.COM / September 2024 → 1:20 PM - 1:50 PM, OCTOBER 13, 2024 | 30 MINUTES HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Securing Investments in the Virtual World: What To Look Out For? ALI HUSSEIN| CEO, IMMERSO/EROS INVESTMENTS, UAE PASCAL STUERCHLER| CO-FOUNDER AND CEO, BLOOMHAUS VENTURES AG, SWITZERLAND → 1:50 PM - 2:05 PM, OCTOBER 13, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Gaming Revolution: Blockchain’s Role in Shaping the Interactive Environment YAT SIU| CO-FOUNDER AND EXECUTIVE CHAIRMAN, ANIMOCA BRANDS, HONG KONG SPECIAL ADMINISTRATIVE REGION → 2:40 PM - 3:00 PM, OCTOBER 13, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Driving the Global Web3 Oppor- tunity in the Future of Trade AHMED BIN SULAYEM| EXECUTIVE CHAIRMAN & CHIEF EXECUTIVE OFFICER, DMCC, UAE EDITOR’S PICKS OF SESSIONS NOT TO BE MISSED | WWW.GITEX.COM | → 3:05 PM - 3:35 PM, OCTOBER 16, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STARDUBAI HARBOUR Web3 in Action: Real-World Use Cases and Success Stories JUSTINA NNAM OHA| CEO, DIGITAL EQUITY AFRICA, NIGERIA MATTHIAS MENDE| FOUNDER AND CEO, BONUZ, GERMANY JAMEEL KHALFAN| HEAD OF ECOSYSTEM, SUI FOUNDATION, USA SHIRLY VALGE| CHIEF OF GROWTH, PARTISIA BLOCKCHAIN FOUNDATION, ESTONIA → 3:35 PM - 3:50 PM, OCTOBER 16, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR The Role of NFTs in the Future of Digital Content An in-depth conversation about the impact of non-fungible tokens (NFTs) on digital content creation, ownership, and monetization. Discuss current challenges like copyright infringement and explore how blockchain technology can offer new revenue streams for creators while pro- tecting their work. SPOTTIE WIFI| CRYPTOPUNK RAPPER, SPOTTIE LABS LLC, USA → 2:35 PM - 2:55 PM, OCTOBER 14, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Expanding Crypto Ecosystem: The Goal is Mass Adoption OLA DOUDIN| CO-FOUNDER AND CEO, BITOASIS, UAE SUMIT GUPTA| FOUNDER, COINDCX, INDIA → 1:10 PM - 1:25 PM, OCTOBER 15, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STARDUBAI HARBOUR Why Is Blockchain Important? MATTHEW WHITE| CEO, VIRTUAL ASSETS REGULATORY AUTHORITY (VARA), UAE → 12:40 PM - 1:10 PM, OCTOBER 16, 2024 HALL 9, FUTURE BLOCKCHAIN STAGE EXPAND NORTH STAR DUBAI HARBOUR Connectivity 3.0: Blockchain and the Future of Digital Infrastructure CHRISTIAN GLEICH| INTERNATIONAL AMBASSADOR, EUROPEAN BLOCKCHAIN ASSOCIATION, GERMANY FREDERIK GREGAARD| CEO, CARDANO FOUNDATION, SWITZERLAND DR. LISA CAMERON| CHAIR, GLOBAL LEGISLATORS FORUM IN DIGITAL ASSETS, UK
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54 / ENTREPRENEUR.COM / October 2024 W hen the App Olympics was launched by the Dubai Chamber of Digital Economy (DCDE) in October 2023, it was an open call for mobile app develop- ers across the world -regardless of age and experience- to be part of a six-month-long program to hone their skills in this space. Launched as part of the Create Apps in Dubai initiative, which was announced in March 2023 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, the program caters towards the goal of transforming the Emirate of Dubai into a leading, global digital hub, and it also aligns with the objectives laid down in the Dubai Economic Agenda (D33). Over 1,100 applications, countless webinars and training sessions, and one enthralling semifinal later, the debut App Olympics saw four apps walk away with the grand prizes at an awards ceremony held at the Museum of the Future in Dubai. The ceremony was held in the presence of Sheikh Hamdan, who also handed out the awards. The winner in the Best Youth-Made App category, and also of the Dubai App Of The Year award, was Emudy, a platform that assists students in preparing for the Emirates Standardized Test (emSAT)- a national system of standardized computer-based tests in the UAE to determine entry into universities as well as scholarship applications. The award for the Best Social Impact App was given to The Intern, an app that connects college students with relevant internships and also offers financial management and educational resources. The winner in the Most Innovative App category was Bareeq, an app that connects users with homemade products from within their communities. And finally, the winner of the Best Advanced App title was Takeem, an app that reduces the time, cost, and other stresses that come with long-term renting of properties. Each of the four winners received a comprehensive package of services worth US$150,000 that was delivered in collaboration with an international app development software company. Now, following the success of the first edition, DCDE is all set to launch a second edition of App Olympics this month! To give you a taste of what the competition has offered its past participants, we caught up with 18 participants from the first edition to find out where they are now, how their app develop- ment has progressed, and how the App Olympics has been a stepping stone for their business’ success. SIX MONTHS SINCE DUBAI CHAMBER OF DIGITAL ECONOMY’S INAUGURAL APP OLYMPICS COMPETITION CONCLUDED IN FEBRUARY 2024, WE CAUGHT UP WITH 18 OF ITS GRADUATED PARTICIPANTS TO FIND OUT WHERE THEY ARE NOW! THE GOLDEN MOMENT ↑ H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, with the winners of the APP OLYMPICS competition.
55 October 2024 / ENTREPRENEUR.COM / A rtiko is a platform that plays at the intersection of art and technology. Using advanced AI, Artiko matches clients with creatives, offering a space where artists can showcase their work, collaborate on projects, and discover opportunities in the digital economy. The platform is currently in its beta testing phase, with the MVP nearing completion. With a focus on refining user experience and AI matchmaking, Artiko is positioning itself to become a key player in the creative tech space. Batiz said, “The AppOlympics provided me with the opportunity to pursue one of my biggest dreams and work hard to bring it to life. The guidance, mentorship programs, and the smart platform was invaluable, along with the support from a DCDE partner,who taught me a great deal about AI tools and solutions for app development.” She continued, “If you have an innovative mind and a passion for the digital world, or if you’re nurturing a big idea that could become an app, the AppOlympics is a great opportunity. It offers a chance to learn from industry experts, connect with like-minded people, gain visibility, and work hard on something you truly believe in. It’s definitely worth considering if you’re ready to take your ideas to the next level and turn them into reality.” B areeq connects users with distinctive, homemade products from the local community, making it easy to discover and support local businesses. The app aims to empower home-based entrepreneurs by providing a platform to showcase their products. Currently under development, Bareeq is set to soft launch in 2025, with plans to onboard 50-100 businesses to the platform for free, offering full access to premium features for six months, with transaction fees as low as 5%. Before joining the App Olympics 2023, Bareeq was only a concept, focused on home-based businesses but lacking formal materials. The competition transformed this idea into a structured project with a pitch deck, design prototype, and comprehensive business plan. It provided the resources and mentorship to secure full funding, allowing Bareeq to move into app development with the goal of presenting its MVP by October 2024. Alshaali notes, “I gained a truly unique experience through the App Olympics, unlike anything I encountered in previous competitions. The friendly and supportive competition team, along with mentors available for online sessions at any time, made the journey exceptional. The App Olympics introduced us to the entrepreneurial world from a fresh perspective, one that every startup should understand. While I had heard that running your own business is challenging, with long hours and full responsibility, what I learned from this competition is that while it’s not easy, it’s also incredibly fun. The stages, deadlines, and requirements were designed to welcome participants into the entrepreneurial world. I’m grateful for everything I learned, proud to have won, and excited to continue shining with Bareeq.” B uildWealth is a digital platform that unlocks personal real estate investment through fractional property ownership. Available as both a website and mobile app, BuildWealth opens the doors to property investment for individuals who want to diversify their portfolios with ease. After rigorous testing, the app is now fully operational and offers a seamless investment experience. The App Olympics played a crucial role in helping to propel BuildWealth from the MVP stage to a fully tested app available on the App Store. The competition allowed the team to refine its value proposition, identify untapped markets and optimize the user experience. The CEO of the company, Eng. Moustafa Allam was full of praise for the event, and said, “App Olympics is a crucible for innovation. It’s a platform where the brightest minds in tech converge to push the boundaries of app development.” He also highlighted the visibility offered by the event and added that competing against other top apps provided an opportunity to benchmark BuildWealth against industry leaders. “In the proptech space, particularly in a dynamic market like Egypt, participating in the App Olympics can be a game-changer. It’s an investment in your company’s future, propelling you towards becoming a global leader in fractional property ownership.” ARTIKO FOUNDER| Pamela Batiz BAREEQ FOUNDER| Fatima Ahmed Alshaali BUILDWEALTH FOUNDER AND TEAM MEMBERS| Eng. Moustafa Allam, CEO Dr. Eng. Abdallah Allam, CBO Eng. Mohamed Omar, COO Mohamed Mashal, CFO
56 / ENTREPRENEUR.COM / October 2024 C oach Assistant is an AI-powered platform that provides football coaches with data-driven insights and opponent analysis to optimize game strategies and team performance. By automating the manual process of analyzing opponents, it helps coaches make more informed decisions on and off the field. Before joining App Olympics, Coach Assistant was still in its ideation and initial product design stage. The competition helped accelerate the app’s development towards the prototype stage, with feedback from football experts and early adopters. Currently, the app is in the development stage, focusing on refining its features. Its next milestone is launching the web app for football clubs and coaches in the UAE, and eventually expanding to the Middle East & North Africa region and beyond. They plan to roll out features such as player acquisition recommendations as well. Eslamifar commented, “Participating in App Olympics 2023 was an inspiring journey. The competition offered incredible mentorship and expert support, and the workshops provided essential learning materials for business and app development. The warm and friendly relations between organizers and participants fostered an environment of growth and collaboration.” Farajnia agreed and commented, “App Olympics is an excellent platform for accelerating app development. It offers hands-on experience, networking opportunities, and invaluable feedback from experts, all within a supportive and competitive environment that can truly propel your app forward.” C rowdTransfer is a platform that empowers football fans to directly support their favorite clubs through crowdfunding. The app allows users to engage in crowdfunding campaigns that benefit their clubs and enhances the connection between fans and the game. CrowdTransfer was still in its early stages, operating as an unfinished demo, before it was accepted as part of the App Olympics. The competition provided a unique opportunity to refine the design and functionality of the app. Now the app is live and fully functional, with the team having launched its first crowdfunding campaign on the platform, marking a significant milestone for CrowdTransfer. Grossenbacher said, “Our experience at the App Olympics was incredibly valuable. The App Olympics is an excellent opportunity for young startups and emerging companies to connect, learn, and grow. It’s a platform that fosters collaboration and innovation, making it a must-attend for anyone looking to make an impact in the tech industry.” D appunk is a social marketplace that allows content creators to sell their content, both publicly and privately, to brands, followers, and fans. Think of it as Instagram meets Shutterstock, empowering creators to monetize their work. Before joining the App Olympics, dappunk was in its early development phase. After participating, the team progressed to the final stages of development and the experience shaped the team’s elevator pitch and helped prepare to launch. Dappunk is currently in alpha testing stage, gathering feedback from users and conducting performance monitoring. The next big step is to provide early access to influencers and brands before going live to the public. Additional features are in development and will be gradually released post-launch. Damani said, “Being part of the App Olympics helped us to establish an elevator pitch that summarizes a complex application such as ours. The overall dynamic encouraged us to work under pressure which was a good learning curve.” Moritz added, “App Olympics is a good platform to get your idea off the ground. The structure is very good and also helps you develop your product further and get used to the pitch process.” COACH ASSISTANT CO-FOUNDERS | Samaneh Eslamifar and Ali Farajnia CROWDTRANSFER CO-FOUNDERS | Roger Grossenbacher, President of the Board and CFO; Richard Lauper, Board Member and CPO; and, Leroy Bächtold – Board Member, CEO DAPPUNK CO-FOUNDERS | Tanuj Damani and Patrick Moritz
57 October 2024 / ENTREPRENEUR.COM / C reated by teenage boys, Emudy is the first-ever EmSAT educational platform, revolutionizing traditional learning models by integrating advanced technologies while remaining cost-effective. Still in the ideation before joining App Olympics, Emudy then progressed to the development stage through the competition. The co-founders are currently developing the platform in partnership with Builder.AI, and its MVP website will be launched at Gitex in October 2024. The vision is to eventually cover every curriculum in the country while keeping education affordable and incorporating AI for enhanced learning experiences. The co-founders commented, “We liked and appreciate the support that has been given to us from Dubai Chamber and their partners. We recommend people to participate in App Olympics as the competition will help in developing ideas further and it will open doors to meeting a lot of amazing people, from the spectacular team that is working behind the scenes, to the innovative minds who participate in the competition with their amazing ideas.” F ood For All is an app dedicated to digitizing the reduction of food wastage while feeding those in need, bridging the gap between surplus food and the hungry. Before joining the App Olympics, the co-founders were in the ideation stage, and after the event, advanced to the prototype stage. The next goal is to onboard food banks and restaurants to our platform, with plans to launch a beta version later this year, bringing the team one step closer to reducing food wastage across communities. Tayyab said about his experience with App Olympics, “App Olympics taught me how apps are built professionally. I met lot of people from whom I learnt many things. All the workshops and pitches were great learning experiences.” Maleekjan urged others to join the event and noted, “You must participate in App Olympics as it gives a platform to showcase your talent and you will learn a lot about app development and entrepreneurship.” G enRus hopes to revolutionize the tipping experience by offering a modern, cashless way to express gratitude. Simply put, the app aims make generosity easy and empowering for the receiver. Before joining the App Olympics, GenRus was still in the ideation stage. The competition allowed the concept to be further refined, with a clearer vision and defined business goals. There is now a full-fledged business plan and a basic prototype in place. Ahmed is now actively searching for a co-founder with experience in the fintech space. Together with the new co-founder, she hopes to refine the project scope, enhance the prototype, and pitch to potential investors. The app is currently about 30% complete and moving steadily through the prototyping phase. The founder is extremely grateful for the App Olympics experience, and said, “The competition really helped me to refine and define my concept which was literally a seed before I joined. Today I have a full-fledged business plan and a basic prototype in place. Grateful to the competition to have helped me get here.” She added, “I thoroughly enjoyed the experience, it was a challenging yet a highly fulfilling process. The team from App Olympics and the mentors and consultants were all amazing. The App Olympics grounded my belief that a simple idea can be honed to become something bigger. Regardless of whether you win or not, App Olympics can help you take your idea and get it to a space where you have a full-fledged road map, plus the beginnings of a great prototype – not to mention an amazing pitch deck.” EMUDY CO-FOUNDERS| Mohamed Al Khemeiri, Mohammed Al Mansoori, Ryan Telles FOOD FOR ALL CO-FOUNDERS| Tayyab Choudhari and Maleekjan Choudhari GENRUS FOUNDER| Tehzeeb Ahmed
58 / ENTREPRENEUR.COM / October 2024 58 / ENTREPRENEUR.COM / October 2024 M ulsen is an AI-powered app designed to help users master English through real-time conversations and personalized learning experiences. Before joining the App Olympics, Khalaf and Alsaleh were in the process of building and developing the app. Thanks to the competition, they successfully launched Mulsen on both the Play Store and App Store. The next milestone involves obtaining a company licence in Dubai, after which they plan to approach investors. With their support, Mulsen’s services will be expanded and reach a broader audience through an intensive marketing strategy. A premium model is also in the works, along with enhancement of free services. The co-founders said, “Being part of App Olympics has been an amazing experience, surrounded by a supportive community and inspiring mentors who offer constant encouragement. You’re never alone in your journey. It offers a highly supportive environment that opens countless doors for entrepreneurs.” N DAWI is a healthcare app designed to streamline patient medical record access and improve efficiency for healthcare practitioners and patients across the UAE. Before joining the App Olympics, NDAWI was in the ideation stage, with market research and audience identification underway. The competition accelerated the app’s progress into development, leading to refinement of key features, integration of AI, and establishing partnerships with healthcare authorities. Development of core functionalities and prioritizing data security is underway. The next milestone is completing development and launching the app with full AI integration, providing predictive health alerts and personalized recommendations for users. Al Mehrzi said about her time with App Olympics, “The App Olympics was a transformative experience, providing mentorship, valuable resources, and a platform to refine our vision. I have gained new insights into user needs and how to improve NDAWI’s functionality. The App Olympics offers a fantastic platform for aspiring developers and entrepreneurs to turn their ideas into reality. It’s an opportunity to learn, grow, and connect with like-minded individuals while receiving guidance to help your app succeed.” N utralis Product Scanner provides users access to one of the largest databases of dietary supplements and functional foods or nutraceuticals. By simply scanning product labels, users can get an in-depth analysis and compare products to choose the most suitable one. Moving from the ideation phase before the competition, the team then onboarded a CTO, and the app is under active development. The competition provided Nutralis with a platform to showcase its mission in the health tech space, refine its pitch, and gain validation from industry experts. They are now working towards launching the app by the end of 2024. “I highly recommend joining the App Olympics 2024 because it offers a unique platform to validate and refine your ideas with expert guidance. You’ll gain invaluable exposure to industry leaders and the opportunity to push your concept to new heights in a supportive and challenging environment. Whether you’re looking to validate your idea or scale it to the next level, the App Olympics is the ideal platform to accelerate your journey,” said Maitha Al Yousuf. MULSEN CO-FOUNDERS| Raafat Khalaf and Abdulrahman Alsaleh NDAWI FOUNDER| Fatema Abdulla Al Mehrzi NUTRALIS PRODUCT SCANNER CO-FOUNDERS| Maitha Al Yousuf, Mayank Dangi, Yousuf Al Yousuf, Vijaysarathi Kallam
59 October 2024 / ENTREPRENEUR.COM / 59 October 2024 / ENTREPRENEUR.COM / R ayik is a foodie’s dream, helping users find, rate, and recommend food spots tailored to their unique taste preferences. Before joining the App Olympics, Rayik was in the ideation phase with no clear path forward. The competition allowed Salah to refine her idea, gain crucial insights into the app development process, and turn the concept into a complete prototype ready for production; the app is currently in the development stage. Salah is now focused on creating partnerships with restaurants and cafés to bring them on board, while working on launching an MVP for user testing and feedback. The goal is to refine features and prepare for a full launch that resonates with food lovers. The founder said, “Being part of the App Olympics was an unforgettable experience. Not only did I gain knowledge in one of the most important aspects of digital innovation, but I also met and collaborated with brilliant people from all over the world. It was a wonderful journey that I am glad I took, as it also brought me a step closer to achieving my dream.” She shared advice for other app entrepreneurs: “Don’t worry if you don’t have a well-formed app idea in the beginning. The App Olympics is a transformative experience that will help you shape your vision and push your creative boundaries. You will surely come out with an app ready to take the world by storm. Along the way, you will also connect with brilliant minds that will inspire you and show you new perspectives. Dare to be the next App Olympian!” S chedule Planner is a task management app that helps users efficiently organize their time, manage tasks, and stay on track. Everyone from busy professionals to students juggling deadlines, this app simplifies the process of planning one’s day with custom reminders, calendar views, and personalized themes. Before the App Olympics, Schedule Planner was in the ideation stage. Thanks to the competition, the app’s core features were solidified, and user feedback was incorporated, allowing it to move from concept to early development. The app’s interface was streamlined to be more user-friendly and performance optimizations was made to ensure smooth functionality. The competition provided valuable insights and helped shape the app’s structure, design, and functionality. Schedule Planner is now fully developed and available on the Google Play Store. Upcoming milestones include AI-powered suggestions for smart scheduling, cross-platform availability, and collaboration features that allow team task management, along with advanced analytics and creating a subscription model. Alzahmi said, “Participating in the next edition of the App Olympics is a great opportunity for anyone looking to take their app ideas to the next level. It offers a platform to receive valuable feedback from industry experts and users, helping you refine and improve your app. The competition also provides exposure and networking opportunities with like-minded innovators and potential collaborators. Most importantly, it pushes you to challenge yourself, accelerating the development of your app and boosting your confidence in bringing your ideas to life.” RAYIK FOUNDER| Salamah Salah SCHEDULE PLANNER FOUNDER | Maryam Mohamed Rashed Hamdan Alzahmi T akeem is an app that makes renting as easy as ordering takeout. This all-in-one app allows tenants to rent in minutes instead of days, saving them money while securing rent for landlords, and enabling agents to earn higher commissions. After starting at the ideation stage, Takeem has since moved forward, with app designs completed and the MVP currently being built. Their next steps include going to market with the MVP, engaging with users and stakeholders, and tracking performance metrics to meet their KPIs. Mavath commented, “Being part of the AppOlympics was like stepping into a startup bootcamp on steroids. It was a whirlwind of ideas, pitches, practice and more practice. But the real value was in the insane amount of growth that happened along the way.” Hamilton noted the broader impact of the event and said, “I’d recommend joining AppOlympics because it’s more than just a competition- it’s a chance to supercharge your startup journey. You’ll gain invaluable experience, connect with industry leaders, and challenge yourself in ways you never thought possible.” And as Vithlani added, “Plus, who wouldn’t want a shot at that $150,000 prize?” TAKEEM CO-FOUNDERS | Rakesh Mavath, Richard Hamilton, Pooja Vithlani
T he Intern is an AI- powered app designed to connect college students with highly relevant internships while offering financial management and educational resources, creating a real social impact. Initially, the concept was a set of basic slides, but thanks to the App Olympics, it has now evolved into a full-fledged project with an MVP set to be showcased at Gitex in October 2024. Currently, The Intern team is building the app with its tech team, with the support of Dubai Chamber, to onboard companies and students with a workable version of the app. The team was also accepted to the In5 Technology Incubator to develop it further. Nassif is pleased about his time with App Olympics. He said, “The whole thing was a dream from the moment that I found the advert on LinkedIn to get enrolled across more than 1,200 applicants to pass through a very rigorous selection stages- and doing few of them remotely. I strongly believe that it’s a life changing experience under the vision of H.H. Sheikh Hamdan and managed perfectly by Dubai Chamber of Digital Economy.” El Shafei added, “I would highly recommend this for everyone who has an idea for an app; this is the place and the people who can take your app from zero to 100. You will only need to keep dreaming about where you want to be with your application and trust that App Olympics has been created to cater to passionate and committed app owners.” Y alla Farha is an innovative concept, which enhances excitement around special events while reducing stress for users. Initially in the prototype development stage, the app’s core features and designs were established before entering the App Olympics, with its basic version already in the process of being built. After the event, the team refined the user interface, added new features, and improved overall performance. Now live and fully operational in the UAE, Yalla Farha is helping people celebrate special occasions with ease, having secured the necessary licensing for company use. Kanaan said, “The competition of App Olympics provided valuable expert feedback, enabling us to refine our concept and strategically position Yalla Farha for future success. I highly recommend joining App Olympics 2024. It’s a great opportunity to showcase your skills, connect with tech enthusiasts, and turn your app ideas into reality. You’ll learn, collaborate, and make a significant impact in the industry.” Z Wallet is an all-in-one ecosystem that allows users to buy, store, and spend cryptocurrency in a halal and Zakah-friendly manner. Originally in the ideation stage, the app has now moved into development and has successfully secured 60% of its fundraising goal. With a growing waitlist of early users, Z Wallet is preparing to give early access to its initial supporters as well as select influencers for feedback before the official launch. Ragab noted, “Every mentor guided me exactly in the point I needed, from what data I need in the deck, to how to present this data like a superstar and to how to present your fundraising ask in an attractive manner. You would never imagine top CEOs from payment companies, Ecommerce Series B startups and telecom companies waiting for you in the meeting room and giving you an hour of their time to help you build a strategy for your startup. Incredible!” THE INTERN CO-FOUNDERS| Bassem Nassif and Emad El Shafei YALLA FARHA FOUNDER AND TEAM MEMBERS| Ali Kanaan, Mohamad Afanh, Rami Kanaan Z WALLET FOUNDER | Mahmoud Ragab 60 / ENTREPRENEUR.COM / October 2024
T he App Olympics is all set to return for a second edition- only this time it promises to be bigger and better! Whether you’re a student, tech enthusiast, entrepreneur, or simply someone with a great app idea, this competition is for you. And the best part? You don’t need to have a tech background! PANEL #1 TECH-CHAMPIONS: Lessons from App Olympics Winners Time: 12:00 PM – 12:30 PM, October 14, 2024 Location: 10x Stage, Dubai Harbour Engage in a deeper exploration of the synergy between mobile apps, AI, and human connectivity, with insights from industry leaders at Talabat, CAFU, Amazon Web Services, and Boss Bunny. PANEL #2 APP OLYMPICS LAUNCH Panel Discussion Time: 12:30 PM – 1:00 PM, October 14, 2024 Location: 10x Stage, Dubai Harbour This panel features App Olympics winners who will share their experi- ences, insights, and lessons learned from competing in and winning the competition. WHAT’S IN STORE FOR YOU? • Compete in four categories for a chance to be one of the four champions. • A total prize fund of $600,000. • Extensive support through masterclasses, mentorship, and more to equip you for success. HOW TO GET INVOLVED Sign up now at: https://createapps.ae/ and start your journey to making your app a winner! No tech background? No problem! The App Olympics’ inclusive environment ensures that everyone, from novices to sea- soned developers, can find their place and thrive. #ICYMI The App Olympics competition is an app development initiative launched by the Dubai Chamber of Digital Economy, and offers participants a chance to contribute to Dubai’s digital revolution and showcase their creativity on a global stage. LAUNCH DETAILS The second edition of the App Olympics will be launched in tandem with not one, but two panel discussions at the Expand North Star, which will take place at the Dubai Harbour from October 13-16, 2024! 61 October 2024 / ENTREPRENEUR.COM /
62 / ENTREPRENEUR.COM / October 2024 S/Q&A IMAGES COURTESY DUVERSE Duverse /duverse.ae/ A roundup of the up-and-coming startups in the Dubai-based Mohammed Bin Rashid Innovation Fund (MBRIF) accelerator program that you should be keeping an eye on by AALIA MEHREEN AHMED IN FOCUS “Cities are responsible for over 70% of the global greenhouse gas (GHG) emissions while building and construction are responsible for 37% of the annual GHG emissions, and 40% of the global energy consumption [as per the UNEP],” explains Hasan Algarhy, founder and CEO of Duverse. “At Duverse, we thus develop technolo- gies that help urban planners design human-centric cities more efficiently and in line with environmental, social, governance (ESG) regulations. We utilize emerging technologies including virtual reality (VR), augmented reality (AR), digital twins, artificial intelligence (AI), and others to enhance the performance of various sectors, and government organizations, focusing on city development ↑ HASAN ALGARHY is the founder and CEO of Duverse, a UAE-based startup that enables the building of human-centric and sustainable cities using emerging technologies. I t shouldn’t come as a surprise to most of us today that the increasing number of cities being built worldwide has directly led to unfavorable environmental consequences. In fact, while discussing the solutions that can attain the eleventh United Nations Sustainable Development Goal (UNSDG) -i.e. to make cities and human settlements inclusive, safe, resilient and sustainable by 2030- the UN Environment Program (UNEP) highlights that “...cities are particularly vulnerable to climate change and natural disasters impacts.” Addressing this issue is Duverse, a UAE-based startup that aims to leverage advanced technologies to achieve sustainable urban resilience. and urban planning. Our solutions assist organizations in achieving their sustainability goals by adopting effective digital transformation strategies.” But environmental impact is only one part of the puzzle that Duverse is aiming to solve- the second aspect it seeks to address is one that may, at first, come as a bit of a surprise to some: mental health. A report by the World Economic Forum shows that depression is 20% higher among city dwellers, anxiety is 21% more prevalent, and the risk of developing psychosis [a
psychiatric disorder associated with hallucina- tions, delusions, and paranoia] is 77% higher. “It is said that by 2050, 70% of the world’s population will be living in cities,” Algarhy adds. “As such, we realized that the way we currently build and design our cities is generally negatively impacting and consuming us mentally and physically as well, in addition to harming the environment and the whole ecosystem. With over 18 years of experience in the fields of urban planning and psychology, during which I got to explore how the way we design and build our cities impacts us and shapes our personality, I decided to create Duverse.” Duverse was thus launched in Dubai in 2022 with services like urban planning solutions such as smart zoning and land use planning which use AI and data analytics to optimize land use and zoning decisions for sustainable growth; digital twins that offer proactive decision- making capabilities and show real-time spatial insight for assets, develop- ments, and projects; and management tools for smart cities wherein IoT-enabled infrastructure solutions are used for monitoring and maintain- ing critical city assets (such as bridges, roads, and water systems) to prevent failures and ensure longevity. “I wanted to drive actual tangible impact and transform the way we design and build our cities to positively impact us and the environment,” Algarhy explains. “Emerging technologies such as VR, digital twins, AI, and others have a huge potential that is far from being utilized. We thus crafted our human-centric tech solutions to lead the change and transform the way we design, build, and operate our cities. Duverse is mainly about emerging technologies and innova- tions. What we think of as disruptive technologies are mostly assisting tools to free human time for more creative, strategic, and value-added tasks and lifestyles.” Operating as both a business to business (B2B) as well as a business to government (B2G) entity, Duverse works on a contract basis with its business clients and government organizations, and provides subscription- based services too. “Duverse has shown extraordinary resilience since it was founded in 2022, and managed to show sustainable growth in terms of clients and revenue,” Algarhy says. “Our current annual revenue is circa US$650,000with an annual growth of circa 45%. In 2023, Duverse was selected as one of the companies in the Future 100 list, a collaborative initiative between the UAE Ministry of Economy and the Government Develop- ment and the Future Office. In the same year, we were also listed on a UK crowdfunding platform with a pre-money valuation of circa US$7.7 million.” Despite combining the concepts of sustainability and mental wellbeing into urban planning, Algarhy is quick to point out that his startup’s true differentiat- ing factor is the team that makes up Duverse. “In fact. the extensive experience of our team is one of the key strengths,” he says. “A multidisciplinary extensive field and academic experience in urban planning, technology, psychology, business growth, and other disci- plines that boosts the growth of the company supported by strong technical knowledge and field experience. Our solutions are always based on understanding what differentiates the human mind and our collective intelligence from the machine mind and its artificial intelligence and how can we leverage and WE REALIZED THAT THE WAY WE CURRENTLY BUILD AND DESIGN OUR CITIES IS GENERALLY NEGATIVELY IMPACTING AND CONSUMING US MENTALLY AND PHYSICALLY AS WELL, IN ADDITION TO HARMING THE ENVIRONMENT AND THE WHOLE ECOSYSTEM.” }} 63 October 2024 / ENTREPRENEUR.COM /
64 / ENTREPRENEUR.COM / October 2024 build on that, how can we utilize the power of both to achieve the highest and most effective impact. From day one we positioned ourselves as a human- centric company. Everything we do is centered around how we achieve positive impacts on humans, and improve their lives, their mental health, well-being, and economic situations.” But not everyone in the business landscape has necessarily viewed advanced technologies as a tool to enable more sustainable and healthy cities- and therein lies Duverse’s biggest challenge. “Our main hurdles have been the adoption of emerging technologies, and raising awareness of how to utilize these technolo- gies,” Algarhy explains. “Leading a paradigm shift from fearing technology and seeing it as being disruptive and taking away jobs to acknowledging that these technologies are assisting us to be more productive and focus on strategic and creative tasks in our lives.” But one entity in the UAE ecosystem that has neatly aligned with Duverse’s goals has been the MBRIF Innovation Accelerator program. “The program has fulfilled its promise so far with informative mentorship sessions, inviting us to participate in the UAE delegation to Lithuania in August led by H.E. Abdulla Bin Touq the Minister of Economy, and leading to an effective, and successful trip including signing partnership agreements with Lithuanian companies to bring additional innovative solutions to the UAE. MBRIF program has also given us the opportunity to participate in the 2024 edition of the Expand North Star, which is a great initiative.” Equipped with the MBRIF’s support and driven by its own goals to create a sustainable future, Algarhy says Duverse is now focused on “achieving significant growth.” “The way we currently build and design our cities is generally negatively impacting and consum- ing us mentally and physically, in addition to harming the environ- ment and the whole ecosystem,” he reiter- ates. “Now that we have realized how emerging technologies such as VR, AI, and digital twins can help in solving these problems, we are more geared up than ever to turn our cities into being human-centric and improving the wellbeing and mental health of the residents of the cities, in addition to leading to significant improve- ments in how we run and operate the cities.” S/Q&A A s employers around the world find new ways to ensure talent retention, UAE-based employee benefit technology firm Equevu has come up with one such offering of its own: help employees save and invest for the future through salary deductions. “In today’s business landscape, employers are facing challenges in attracting, motivating and retaining talent while employees are facing financial stress as they are not saving enough for the future,” notes Equevu co-founder and CEO Hazem Abdelrahman. “What we offer at Equevu is a method that kickstarts a savings habit, positively impacting the lives of all employees! What’s more, our company builds technology specialized in employee savings through salary deductions, with the option for employers to match employee contributions.” Equevu /equevu.com/ → (Left to right) Jihad El Salah, Safa Abdelrahman, and Hazem Abdelrahman, co-founders of Equevu.
65 October 2024 / ENTREPRENEUR.COM / Launched in 2022 at the Abu Dhabi Global Market (ADGM), a financial center located in the UAE’s capital city, the inspiration to create such a platform came about as a result of Abdelrahman’s firsthand observa- tions. “Having worked in the work- place savings and retirement field as an actuarial consultant in the UAE made me observe three themes, the first being that employees moving to the UAE are staying in the country longer than before and the majority don’t know where and how to start to invest,” he says. “The second is that employers that wish to offer their employees a savings solution through payroll deduction are faced with many limitations, such as expensive solutions with administration burdens. The third thing I noticed is that regulation changes are taking place in the GCC, whereby govern- ments want to replace the end-of- service gratuity benefits with work- place savings solutions and encourage an increase in household savings rates. That is why my co-founders and I decided to build, using modern technology, a solution that is acces- sible to all, affordable, and simple.” Equevu’s services are thus demar- cated into four distinct categories: first of which is its flagship workplace savings solution. The other three include the deployment of workplace or personal savings tools as a software as a service (SaaS), actuarial consult- ing which specializes in end-of-service benefits in compliance with IFRS (IAS19) which is the international accounting standard dealing with employee benefits, and, finally, employee financial wellbeing sessions to improve financial literacy within organizations. “As a company focused on employee savings benefits, the rapidly evolving industry landscape demands continu- ous adaptation and forward-thinking solutions,” Abdelrahman notes. “By having a modular design to drive efficiency, scalability and enhance user experience, innovation allows us to deliver unparalleled value to our clients, ensuring we remain at the forefront of the industry and achieve long-term growth. We employ smart technology, we don’t rely on it. We are here to unlock the world of savings and investments for employers and employees. Clients will always have access to our individual expertise, not just the technology.” Now, Abdelrahman’s emphasis on his team’s expert knowledge is not a one-off statement. In fact, when asked what Equevu’s unique selling point is, the co-founder says his team is the “strongest element” of the startup’s offerings. “Our team has subject matter experts who advise both governments and private entities in the UAE and the broader region on matters concerning employee savings and retirement programs,” he adds. “In addition to a team of technology experts building the software and the tech stack, Equevu also exhibits speed and adaptability towards market needs. And finally, there’s the innovation aspect! A fully digitized process like ours streamlines acces- sibility for both employers and employees. It eliminates onboarding hassles for employers, while enabling employees to set up their accounts in just one minute.” It is with this confidence that the startup, just two years since its inception, has already begun making considerable strides in the market. “Our company has recently reached a significant milestone by piloting our technology in collaboration with a financial institution, marking the beginning of our revenue generation journey,” Abdelrahman reveals. “Our innovative solution is currently being tested in the workplace savings sector, where it is undergo- ing a thorough validation through all processes and application program interfaces (APIs). We are actively fundraising for our seed round, which will enable us to grow and scale our operations. As a lean and dedicated team of seven, we are fully committed to becoming a leading tech provider in the employee savings solutions and alternative end-of-ser- vice gratuity market. Our focus is both local and regional markets, position- ing us strategically to capitalize on growth opportunities in these areas. With our current momentum, we believe we are well-positioned for long-term success, delivering significant value to our customers and stakeholders as we continue to expand and innovate.” IMAGES COURTESY EQUEVU A FULLY DIGITIZED PROCESS LIKE OURS STREAMLINES ACCESSIBILITY FOR BOTH EMPLOYERS AND EMPLOYEES. IT ELIMINATES ONBOARDING HASSLES FOR EMPLOYERS, WHILE ENABLING EMPLOYEES TO SET UP THEIR ACCOUNTS IN JUST ONE MINUTE.” ↓ Equevu's savings solution technology links employees to a well-governed ecosystem, offering world-class options. Recognizing that long-term savings are most effectively achieved through payroll deductions, Equevu was developed as an offering that incentivizes both employers and employees to participate. }}
66 / ENTREPRENEUR.COM / October 2024 Aiding Equevu’s expansion plans is the MBRIF Innovation Accelerator program, the eighth cohort of which is currently underway. “Through the MBRIF, we gain access to a network of experienced mentors and industry experts who offer invaluable guidance, helping us overcome challenges and acceler- ate our progress,” Abdelrahman says. “Beyond this support, the program connects us with a broad network of entrepreneurs, investors, and business leaders, unlocking opportunities for partnerships, collaborations, and market expansion. Additionally, being part of MBRIF enhances our credibility and validates our product, boosting investor confidence and encouraging investment in our company.” As such, Abdelrahman and his team are upbeat about what the future holds for Equevu. “Our journey began with a vision to create innova- tive technology that empowers employees to build credible savings plans for a secure future, fostering consistency and healthy savings habits,” Abdelrahman says. “This vision led to the founding of Equevu. As an Abu Dhabi-based startup positioned within the dynamic tech ecosystem of ADGM, we are at the forefront of innovation, surrounded by a thriving community of tech professionals, startups, and seasoned mentors. Our greatest challenge -and simulta- neously our end-goal- now lies simply in staying ahead of a rapidly evolving market while also educating stakeholders on the critical role our technol- ogy plays in managing plans that enhance employer productivity and support the financial well-being of employees.” S/Q&A IMAGES COURTESY GREENFI I f you haven’t heard, green financing is on the rise! Look up the term on the internet and you will find multiple definitions, all of which, essentially, highlight the same thing: that it is a type of financing that is solely catered towards projects that advance environment, social, and governance (ESG) and other sustainability goals. In fact, a 2020 study by the International Monetary Fund notes green financing as a critical sector in “the fight against climate change by supporting reductions in climate change risk and mitigating the impact of adverse climate events.” But Barun Chandran, co-founder of GreenFi, a Singapore-headquartered artificial intelligence (AI)-enabled ESG due-diligence and risk management platform, notes that there is a glaring issue that persists in this space. GreenFi /greenfi.ai/ → Hazem Abdelrahman is the co-founder and CEO of Equevu, a UAE-based employee benefit technology firm that helps employees save and invest for the future through salary deductions. → Barun Chandran is the co-founder of GreenFi, a Singapore- headquartered AI-enabled ESG due-diligence and risk management software for sustainable financing and supply chain.
67 March 2024 / ENTREPRENEUR.COM / “Banks, financial institu- tions and corporates are raising the issuance of green financing and ESG-linked loans but struggle with complex unstructured ESG data, weak ESG indicators and unreliable rating systems which makes them susceptible to greenwash- ing,” Chandran says. “Most institutions rely on manual ESG data management, compliance reporting and assurance processes to make critical business decisions. Assets worth US$130 trillion that are managed by financial institutions are under climate change risk. The global sustainable financing market [as per US-based market research company Global Markets Insights] is valued at $5.4 trillion, growing at a compound annual growth rate (CAGR) of 22%. At the same time, ESG regulations are evolving for climate risks and risk management. This demands a critical need of automating ESG risk management at scale.” Located at the heart of South East Asia’s green financing hub Singapore (multiple reports show that the nation accounts for over 50% of green financing activity in the region), GreenFi was launched in 2022. As per Chandran, a whopping $5 billion are spent by corporations worldwide in just manag- ing ESG risks and analytics- but GreenFi has found a way to fully automate that process. “We leverage artificial intelligence (AI), natural language processing (NLP), large language models (LLM), and machine learning (ML) to build vertical AI applications that automate manual risk management processes,” Chandran explains. “This Vertical AI solution is further deployed for contextual decision intelligence and recom- mender systems in challeng- ing use-cases like ESG regulations, sustainability, supply chain, green financing, financial fraud, etc. GreenFi AI is also a no-code, plug-and-play platform which thus enhances efficiency and cost savings by eliminating manual data engineering processes, enabling swift decision-making, and ensur- ing sustainable growth with one-tenth the price of traditional solutions of less use-case parity.” With this software as a service (SaaS) model, GreenFi’s offerings can be used across a wide range of financial institutions. “When a bank is deploying commercial lending (loans, investments, bonds), instead of using proxy ratings and manual process- es, they can automate due diligence to qualify sustainable financing deals and mitigate compliance risks,” Chandran explains. “Similarly, a corporate business can automate ESG risk assessments and sustainability monitoring to de-risk their supply chains and grow their sustainable financing accessibility. With GreenFi AI software being a SaaS-based platform, customers access our software for a monthly subscription user fee. Already, the startup has a considerable customer base across ASEAN, India, MENA, as well as Europe. “The company plans to expand to North America markets later this year,” Chandran shares. “GreenFi has also been selected as finalist in G20 Tech Sprint [a global long-form hackathon series] and the UN Climate Tech Accelera- tor. We’re currently angel funded with a team of 16 members based in five countries. We have a solid group of tech and climate experts who interact regularly with our custom- ers to understand their business challenges, validate use cases and co-innovate.” Amid all these endeavors, GreenFi was introduced to the UAE through the country’s hosting of the 28th edition of the United Nations Climate Change Conference (COP28), which eventually led to its participation in the MBRIF Innovation Accelerator as well. As such, Chandran hopes that this is a move that will only enhance his startup’s global ambitions. “We attended COP28 in Dubai and it was a huge opportunity for us to learn about regional initiatives in sustainability,” he says. “On the other hand, the MBRIF has been helping us to connect with industry experts, learn regional market dynamics and expand in the MENA region. Through local partnerships and awareness programs, we are now working towards establish- ing GreenFi [in the region] to help businesses become ESG compliant and transition to sustainable operations!” ↑ GreenFi offers a comprehensive 360-degree unified view to examine all ESG aspects of a business, customers, portfolio, transactions, investments and suppliers. Its traceable, transparent and configurable risk assessment combines expertise with data and AI technology to identify risks in customers, products, portfolio, and supplier choices.
68 / ENTREPRENEUR.COM / October 2024 S/Q&A W hen Sung-jin Choe founded Green and Seed Corporation, an agritech startup that offers a sustainable rice farming system, in his hometown Jeonju in South Korea, he did so with ample firsthand knowledge on the subject matter. You see, Choe’s family has been in the rice farming business for multiple generations. But when his parents -both experts in computer-aided design and computer-aided manufacturing CAD/CAM and bioplastics- took over the reins in 2010, they developed a technique known as seed film cultivation (SFC). “Our core technology, SFC, utilizes film mulching drip irrigation (FMDI) to save 80% of water while increasing crop yields by 20%,” Choe explains. “For starters, the FMDI system works by delivering water directly to the root zone via drip irrigation, while a biodegradable film (biofilm) covered with the soil, minimizes evaporation and maintains optimal growing conditions. Then, additionally, our technology creates a greenhouse-like environment beneath the film, which automates the seedling and transplanting processes, significantly reducing labor requirements.” Green and Seed Corporation /seedfilm.co.kr/en// → SUNG-JIN CHOE is the founder and CEO of Green and Seed Corporation, a South Korea-based agritech company that offers a sustainable rice farming system using a technique known as seed film cultivation. IMAGES COURTESY GREEN AND SEED CORPORATION Green and Seed Corporation was thus officially incorpo- rated in 2019, and offers two key products: Seed-attacher, which is used to first attach the rice seeds to the biofilm, and Mulcher, which is used to spread the film to bury it within the soil and installs drip tape [a thin-walled, flexible polyethylene tubing with holes/emitters that deliver small, precise amounts of water directly to plant roots] underneath. Here, Choe elaborates that these two equipment were actually built in a direct response to the shortcomings posed by solely using the FMDI technique initially. “We soon found that although FMDI increased yield and water use efficiency by 20% and 30%, respectively, it required too much labor and generated a huge amount of plastic wastes,” Choe explains. “FMDI’s shortcomings were thus resolved by developing Seed-attacher and Mulcher and introducing biofilm and reusable drip irrigation. As a result, SFC maximizes production while minimizing water, labor, and greenhouse gas emissions. Years of experience and literature have shown that SFC saves 80% of water while increasing yields by 20% compared to conven- tional methods when growing wheat and rice.” Having achieved sales in China and Vietnam so far, Green and Seed Corporation achieved a revenue of US$240,000 in 2023 alone. “Farming with SFC begins with farmers bringing their own seeds and attaching them to biofilm to produce [what is
69 October 2024 / ENTREPRENEUR.COM / OUR SOLUTION SFC, WHICH ALLOWS FOR RICE CULTIVATION EVEN IN DESERT CLIMATES, IS A CONVERGENCE OF MULTIPLE TECHNOLOGIES, INCLUDING THE SEED-ATTACHER, MULCHER, BIOFILM, AND DRIP IRRIGATION.” called] the Seedfilm, and the seed attachment facility is called SFC Center or, simply, Center,” Choe elaborates. “Our business model is to set up these Centers where we sell Seedfilm to farmers and rent Mulchers. Since one seed-attacher can produce 5,000 hectares (ha) of Seedfilm a year 24/7, it is recommended to establish one Center per 5,000 ha of SFC farmland.” Now, if it hasn’t been evident already, Green and Seed Corporation’s SFC system offers a way to cultivate crops like rice and wheat in terrains where the soil is dry and water resources are limited. Indeed, with the product being pretty much tailormade for the Middle East, Choe and his team are now expanding into the region. “Rice farming is one of the most water- intensive agricultural practices, consuming 30% of the world’s freshwater, with the global average requiring approximately three tons of water to produce just one kilogram of rice,” Choe says. “For regions like the Middle East, where water scarcity is a critical issue, this dependency on rice imports is a significant challenge. Our solution SFC, which allows for rice cultivation even in desert climates, is a convergence of multiple technologies, including the Seed-attach- er, Mulcher, biofilm, and drip irrigation. It dramati- cally reduces water usage—by up to 80%— while increasing crop yield by 15-20%. This innova- tion not only addresses water scarcity but also enables Middle Eastern countries to achieve food security by producing rice domestically at a lower cost than importing.” Already, the startup’s offer- ings have received interest in Saudi Arabia: in winter this year, Green and Seed Corporation will conduct a proof of concept at the Kingdom’s National Research and Develop- ment Center for Sustain- able Agriculture (Estida- mah). “Our focus will be on cultivating wheat, alfalfa, Egyptian clover, and rice,” Choe reveals. “In Saudi Arabia’s hot and dry climate, significant amounts of water are wasted in agriculture, particularly in rice farming in the Al-Hasa region, where over 90% of water is lost. We aim to demon- strate the effectiveness of our technology in Saudi Arabia. Once proven, our solution will play a crucial role in enhancing food security and enabling profitable farming practices. This technology has the potential to replace the 1.2 million tons of imported rice in Saudi Arabia, a market valued at 900 million SAR annually. Moreover, it can be applied to other crops such as wheat, alfalfa, and even Acacia trees, which represent an even larger market opportunity.” The startup has created a similar buzz in the UAE as well. In 2023, Green and Seed Corporation was accepted into the ExpoL- ive Innovation Impact Grant Program, a global innovation and partner- ship grant program initiated under Expo 2020 Dubai. “As a result of ExpoLive, we have entered the UAE market by successfully growing wheat and alfalfa with SFC in cooperation with the Al-Nakhli Sector [a sustainable agritech initiative aimed at improving water efficiency and promoting sustainable }} ↑ SFC was created in order to solve the problem of excessive water use and lots of greenhouse gas emissions in rice farming. Green and Seed Corporation was officially incorporated in 2019, and offers two key products: Seed-attacher, and Mulcher,
70 / ENTREPRENEUR.COM / October 2024 IMAGES COURTESY HOOPLA Hoopla /hooplafun.com/ “There’s a lack of accessible and affordable tools for chil- dren’s mental wellness and a growing disconnect between parents and children,” Perrottet laments. “With one in five children globally facing undiagnosed mental health conditions [as per a study by the UK’s National Health Service Digital], we realized that well over 220 million families are left searching for effective tools. As a mother to two young children, coupled with my personal experience with anxiety and the rapidly growing rates of mental health conditions in younger generations, I was inspired to create Hoopla.” Offering science-backed sensory tools and activities -such as breathing tech- niques, mindfulness, and problem-solving games- that can ease anxiety, build emotional skills, and strengthen parent-child S/Q&A I n 2023, the American Psychological Association (APA) released a report wherein it declared that “children’s and youth’s mental health are of growing concern.” The same APA report, which primarily analyzes how climate change is deeply linked to the mental wellbeing of youngsters today, highlights that there are a myriad of other issues -such as the coronavirus pandemic, flagrant racism and xenophobia, broken healthcare systems, family set-up, and more- that are worsening children’s mental health outcomes. Jacqueline Perrottet founded Hoopla, a UAE-born mental wellness app for parents and children focused on prevention and early intervention, as a means to tackle this problem head-on. agriculture in the country],” Choe says. “However, to expand SFC in the UAE, a SFC Center must be established here, and for this we need a partner.” In this regard, participating in the MBRIF Innovation Accelerator program has certainly been a welcome move. “We chose the MBRIF program to identify an agricultural partner with the capital and technologi- cal expertise needed to establish an SFC Center in the UAE,” Choe adds. “This partnership is crucial for scaling our operations and making a significant impact on the region’s food security and sustainability goals.” As Choe and his team now gear up for a phase of growth in the Middle East, Choe remains dedicated to the vision with which he began this journey: to share this innovative technology with a world that is battling climate change. “We are committed to continuous innovation to achieve higher yields with less water, less labor, and reduced green- house gas emissions with many crops,” he says. “To maintain a strong human connection with our customers, we focus on creating solutions that address their specific challenges, such as water scarcity, and work closely with them to ensure successful implementation and long-term benefits. Ultimately, our goal is to be a trusted partner in their journey toward sustainable agriculture.” ↑ JACQUELINE PERROTTET is the founder and CEO of Hoopla, UAE-born mental wellness app for parents and children focused on prevention and early intervention.
71 October 2024 / ENTREPRENEUR.COM / bonds, Hoopla offers a five-minute wellness routine for children aged three to eight years-old. “Hoopla transforms smartphones into tools for emotional wellness and family connection,” Perrottet says. “Our app encourages joint parent- child engagement, blending screen time with meaningful connection and offline play. Our unique multi-senso- ry approach and emphasis on building lifelong emotional skills differentiate us in the market, ensuring technology enhances, rather than replaces, real-world interac- tions. Developed with healthcare professionals, Hoopla turns everyday challenges -like bedtime struggles, tantrums, or lack of confidence- into opportunities for growth and connection. Incorporated in March 2023, Hoopla launched its subscriptions globally in July 2024. “We are proudly based in Dubai, which offers a vibrant startup ecosystem with a diverse community and access to global markets,” Perrottet adds. “While limited funding for early-stage startups has been a challenge, the supportive entrepreneurial environment and strategic location provide significant advantages for Hoopla’s growth.” One such advantageous ecosystem that has aided Hoopla in its journey is the MBRIF Innovation Accelerator Program. “We chose the MBRIF program for its mentorship and extensive network, aligning with our mission to make mental wellness tools accessible to families,” Perrottet says. “It also offers opportunities to form partnerships that can help scale our impact both locally and globally.” Indeed, Perrottet’s immediate point of focus now is on optimizing her product and building up Hoopla’s user base. “We currently have over 900 organic registered users and a network of global healthcare providers,” she shares. “We have a dedicated team of seven across development, marketing, partner- ships, and psychology, and work with a group of freelancers for content creation. Hoopla operates on a subscription-based model, offering families monthly and annual subscriptions. We are also exploring partnerships with schools and health- care providers and collaborations for licensed content and professional courses. Our growth strategy includes securing partnerships with schools and healthcare professionals, enhancing app features, and explor- ing new revenue opportunities like in-app purchases and educational courses. As awareness of children’s mental health rises worldwide, Hoopla is positioned to become a leading platform for early interven- tion in family wellness.” And as the founder and CEO remains laser focused on her mission, Perrottet reiterates that while digital tools are at the forefront of Hoopla’s offerings, the ultimate long-term goal is to create meaningful human bonds. “Yes, we use technology to deliver affordable, science-backed sensory experiences that promote children’s mental wellness, and yet, our focus is always on strengthening human connection,” Perrottet declares. “Our activities begin with brief digital engagement but seamlessly transition to offline play and family bonding, ensuring that technology serves as a bridge to strengthen real-world connections!” AS A MOTHER TO TWO YOUNG CHILDREN, COUPLED WITH MY PERSONAL EXPERIENCE WITH ANXIETY AND THE RAPIDLY GROWING RATES OF MENTAL HEALTH CONDITIONS IN YOUNGER GENERATIONS, I WAS INSPIRED TO CREATE HOOPLA.” ← → HOOPLA’S science-backed activities help reduce anxiety, teach emotional regulation, and strengthen bonds between parents and children through playful, guided exercises like breathing techniques, mindfulness, and problem-solving games.
72 / ENTREPRENEUR.COM / October 2024 The report, led by Dr. Rodrigo Basco, Sheikh Saoud bin Khalid Al-Qas- simi Chair in Family Business at AUS, high- lights the factors driving this entrepreneurial interest, including rising self-confidence, a support- ive ecosystem, and the availability of resources that encourage students to explore entrepreneurship as a viable career path. But can these ambitions translate into tangible success, and could Sharjah truly become a hub for student entrepreneurship? The rising trend in entrepreneurial intentions The report’s data shows a significant rise in entrepre- neurial intentions among students in Sharjah and the UAE. 17% of students expressed a strong desire to become entrepreneurs, aligning with global benchmarks for student entrepreneurship. However, when looking at a medium-term horizon, the figures become even more compelling: 40% of students stated they plan to start their own businesses within five years. In 2018, only 5% of students planned to pursue entrepreneurship after graduation. The latest findings show a nearly threefold increase in immediate entrepreneurial intentions, with 14% of Emirati students now preparing to start businesses immediately upon finishing their studies. This shift underscores a growing confidence in the feasibil- ity of starting a business in Sharjah and reflects a broader global trend where young people increasingly see entrepreneurship as a path to both professional and personal fulfillment. High level of entrepre- neurial self-efficacy reported among Sharjah’s students Central to the report’s find- ings is the high level of entrepreneurial self-effica- cy among Sharjah’s students. They scored 71 out of 100 on the self- efficacy scale—a measure of their confidence in their ability to succeed as entrepreneurs. This figure surpasses the global average by a significant margin, with Sharjah and the UAE students scoring 16 points higher than their peers worldwide. This heightened self-confidence is critical to entrepreneur- ial success, as it directly influences a student’s likelihood to take risks, innovate, and persist through challenges. Dr. Basco’s report highlights that self-efficacy is one of the most important psychological In the Loop/ How Sharjah leads the way in student entrepreneurship From Campus to CEO A recent report compiled by the Sharjah Entrepreneurship Center (Sheraa) in collaboration with the American University of Sharjah (AUS) reveals promising trends for student entrepreneurship in Sharjah. The report’s findings show that 40% of surveyed students intend to start their own businesses within five years of graduation, with 17% planning to do so immediately. These numbers reflect a growing entrepreneurial spirit among Sharjah’s youth, positioning the Emirate as a potential leader in fostering businesses led by young graduates. → H.E. Sara Al Nuaimi, CEO of Sharjah Entrepreneurship Center (Sheraa).
73 October 2024 / ENTREPRENEUR.COM / traits for aspiring entrepre- neurs. Students who believe in their abilities are more willing to embrace uncer- tainty, a defining character- istic of entrepreneurship. Moreover, the report suggests that the strong support systems available to students in Sharjah, including access to mentorship programs, incubators, and entrepre- neurship training, play a major role in building this confidence. Sheraa’s role in nurturing entrepreneurs One of the major factors behind the growing entrepreneurial mindset among Sharjah students is the support provided by the Emirate’s entrepreneurial ecosystem. Sheraa, founded in 2016, has been pivotal in shaping this environment. The center offers a range of programs, including workshops, mentorship opportunities, and access to funding, all of which have contributed to the develop- ment of a thriving startup community in Sharjah. Sheraa also integrates entrepreneurship into university curriculum by working closely with faculty. Sheraa’s collaboration with AUS, where the majority of student entrepreneurs are based, ensures that aspiring entrepreneurs have the resources and guidance they need at every step of their journey. Part of this collaboration is the Sheraa Hub at AUS - the centre’s first physical location dedicated to the next generation of entrepre- neurs. The Startup Dojo, an intensive program aimed at early-stage start-ups, offers students hands-on experi- ence, mentorship from industry leaders, and the opportunity to pitch to investors alongside equity-free grants. This kind of support is critical for turning entrepreneurial intentions into successful ventures. Moreover, the Sharjah Entrepreneurship Festival (SEF), now a key event in the UAE’s entrepreneurship calendar, has run seven editions and hosted 30,000 attendees, providing a vibrant platform for young entrepreneurs to showcase their ideas, connect with global business leaders, and gain visibility in the wider startup ecosystem. Over the years, SEF has also offered a $150,000+ cash pool as prizes to winning start-ups across various competitions. These initiatives, combined with a business-friendly regulatory environment, make Sharjah an attractive location for young entrepre- neurs. Challenges facing student entrepreneurs Despite the promising statistics, the report also highlights some of the challenges that student entrepreneurs in Sharjah face. Financial constraints are among the most significant barriers to entry for student entrepreneurs. Starting a business requires access to capital, and thanks to initiatives and funding programs like the ones designed by Sheraa, young entrepreneurs are able to get the financial support they need to cover a whole range of expenses associated with launching a business. Furthermore, students often lack the industry experience and professional networks that can be crucial for success in the early stages of a start-up. The report also touches on the issue of family business succession, noting that while 50% of students come from families that own businesses, only 6% are interested in joining those ventures. This trend mirrors global patterns, where younger generations are increasingly looking to forge their own paths rather than inheriting established businesses. This shift WHILE SHARJAH IS MAKING GREAT STRIDES IN FOSTERING STUDENT ENTREPRENEURSHIP, ITS ABILITY TO LEAD THE WAY WILL DEPEND ON SUSTAINED INVESTMENT IN EDUCATION, ECOSYSTEM DEVELOPMENT, AND THE REMOVAL OF BARRIERS TO ENTRY.”
represents both a challenge and an opportunity for Sharjah’s family businesses, which may need to rethink their succession strategies and incorporate innovation into their operations. The importance of long-term support While the ecosystem in Sharjah is robust, the report suggests that long-term support is essential to sustain the entrepreneurial intentions of students. Sheraa’s initiatives provide a strong foundation for access to funding, mentorship and professional networks, and present a strong case that these must be available not only during students’ academic careers but also in the years following graduation. For Sharjah to lead the way in student entrepreneur- ship, it must continue to build on its existing infrastructure, expanding access to resources and reducing barriers to entry. The report recommends a stronger focus on collabo- ration between academic institutions, government entities, and private sector partners to provide a seamless support system for student entrepreneurs. Additionally, the report suggests that more emphasis should be placed on practical, hands-on entrepreneurship educa- tion. While theoretical knowledge is important, students need real-world experience to navigate the complexities of starting and running a business. Can Sharjah lead the way? The data presented in the Sheraa-AUS report paints an optimistic picture of student entrepreneurship in Sharjah. The emirate is home to a growing number of young people with the desire, confidence and ambition to start their own businesses. However, challenges remain, particularly around access to funding, profes- sional networks and the transition from academic entrepreneurship to real-world business. While Sharjah is making great strides in fostering student entrepreneurship, its ability to lead the way will depend on sustained investment in education, ecosystem development, and the removal of barriers to entry. If the current trajectory continues, Sharjah has clear potential to emerge as a model for other cities looking to cultivate the next generation of entrepre- neurs. }14% OF EMIRATI STUDENTS are preparing to start a business immediately upon graduation. }17% OF ALL SURVEYED STUDENTS have a strong desire to become entrepreneurs. }IN 2018, ONLY 5% OF STUDENTS planned to pursue entrepreneurship after graduation, showing a significant increase in entrepreneurial intent over time. }71 OUT OF 100 SURVEYED STUDENTS' score on entrepreneurial self-efficacy, indicating their confidence in their ability to succeed as entrepreneurs. This is 16 points higher than the global average. }50% OF STUDENTS come from families that own businesses. }ONLY 6% OF STUDENTS expressed interest in joining their family businesses. 74 / ENTREPRENEUR.COM / October 2024 In the Loop/ → DR. RODRIGO BASCO is the Sheikh Saoud bin Khalid Al-Qassimi Chair in Family Business at the American University of Sharjah (AUS).