Applications are now open in Oman for the Saudi Arabia, Oman and Bahrain edition of the 2024 Visa Everywhere Initiative (VEI), a global open innovation program and competition that sees fintech startups pitch their solutions to solve tomorrow’s payment and commerce challenges.In addition to equity-free funding, VEI winners gain access and exposure to Visa’s vast networks of partners in the banking, merchant, venture capital, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands.With applications open until April 22nd , this year’s Saudi Arabia, Oman and Bahrain edition of VEI will see an in-person competition for finalists from all three countries in mid-June in Riyadh. The winner will progress to a virtual Central and Eastern Europe, Middle East, and Africa (CEMEA) competition on July 17th. The startup that wins at the CEMEA finale will participate in the global finale – competing against winners from Europe, Asia-Pacific, Latin America, and North America – at the TechCrunch Disrupt event in San Francisco on October 29th, 2024.For fintech participants in Oman, this year’s edition of VEI brings back the Impact Prize, which goes to a competitor who has innovated a solution that has a positive social impact on the communities it operates in. Examples include initiatives that boost financial inclusion, promote sustainability, or safeguard the environment. Last year, Saudi-based fintech Lamaa won the Impact Prize for providing SMBs with technological, financially inclusive embedded finance and payment solutions.This year’s edition also introduces the Fintech Innovating in Risk Excellence, or ‘FIIRE’ award which goes to innovative fintech specialized in fraud management, cybersecurity, and credit risk, among others.“The Visa Everywhere Initiative is a powerful platform that empowers and uplifts fintechs and entrepreneurs to showcase the most ground-breaking, impactful solutions solving tomorrow’s challenges in the world of payments and commerce. We are delighted to bring VEI back again for a second year to Oman,” said Manish Gautam, Visa’s Country Manager for Oman.“Fintechs have the potential to offer broad social benefits to the markets they operate in – particularly when it comes to providing financial services to those who have traditionally been underserved. At Visa, we believe access to the digital economy drives equitable, inclusive growth, and VEI is an important means of supporting the growth journey of fintechs in Oman – helping them take small but significant steps towards making an impact.”The program first launched in the US in 2015 and quickly expanded into a global program. To date, nearly 15,000 startups have participated, and have collectively raised over OMR18.4B ($48B USD) in funding. VEI 2023 saw Nigeria’s Drugstock take home the VEI global grand prize of OMR19,200 ($50,000 USD), as well as the Audience Favorite prize of OMR3,800 ($10,000 USD).

Select startups from around the world that drive innovation in sustainability and bring positive change in the world were recognized and celebrated through VerdExim Sustainability Awards in Dubai recently.“The vision is to create a global community of sustainability leaders, driving positive environmental and social impact through innovation,” Mr. Salah Ibrahim Al Nasser, Chairman, CEO, Exim Finance said while presenting the awards.In overall 160 startups, 34 projects were shortlisted for the awards through a stringent selection process and unique methodology by an expert panel, and three promising startups – Equinox from the Netherlands in the Renewable Energy category, Harcourt Agri Farm from Kenya in the Agritech category and Concept Loop from Pakistan in the Recycling category – were presented the Awards at the glittering ceremony in Dubai.Her Excellency Dr. Mariam Mohamed Fatima Matar MD Phd, Founder & Chairperson of UAE Genetic Diseases Association (UAEGDA) handed over the Awards to the winners.Equinox was awarded as the Grand WinnerA special recognition was awarded to Ali Humaid Ali Alloghani Al-Ali from UAE for being the youngest innovator.The VerdExim Sustainability Awards are instituted by Exim Finance, a Dubai-based finance facilitation company, for empowering future leaders in green innovation and to recognize companies and organizations that are catalysts for change by accelerating the transition to a sustainable world, he added.The selection was made from startups that employ MVPs (minimum value products), that align with sustainability goals, addressing critical environmental and societal challenges. The awards are given in three categories: Diversity, Innovation and Opportunity. Eligible industries are Renewable Energy, Food Security, Recycling, Agritech, Manufacturing, and Biotechnology.Leading Mr. Anshul Dawani, Managing Partner at Exim Finance has highlighted the Exim Forest confidently announced that engagement to tree planting with each individual is something really sustainable in generations to come which will be the legacy of VerdExim and Exim Finance to be connected with the future partners.

 Haltia.AI, the UAE's foremost adaptive personal AI, credits Dubai for its significant growth in the AI domain. The company attributes its success directly to Dubai's robust government support system, which distinguishes the city as a prime hub for AI startups. With a blend of opportunities, supportive regulations, a talent-friendly environment, tax incentives, and avenues for global collaboration, the UAE has propelled Haltia.AI from a startup to a global AI influencer. This success story underscores the crucial role of government support in fostering startup growth, driving innovation, and enhancing international competitiveness.At a time when everyone is talking about artificial intelligence (AI) and how it is redefining our lives, startups like Haltia.AI are emerging as the new leaders of innovation. Haltia.AI represents a significant leap forward in how technology can enhance our daily lives and improve our social interactions. However, the journey of AI startups from concept to global influence is fraught with challenges, necessitating a supportive ecosystem that can fuel their growth. Herein lies the importance of government support, a lesson well articulated by the successes of the forward-thinking UAE in fostering a thriving startup ecosystem and illustrated by establishing the first AI ministry in the world back in 2017.The UAE's model of nurturing innovation through comprehensive support mechanisms offers invaluable lessons for countries aiming to bolster their AI sectors. By providing startups with funding opportunities, regulatory frameworks conducive to growth, and platforms for international collaboration, the UAE has positioned itself as a global hub for technological innovation or, as some would call it, the Silicon Valley of the East. This support is not merely about financial backing but encompasses mentorship, access to state-of-the-art facilities, and an environment that encourages experimentation and innovation.Haltia.AI is a prime example of a company reaping the benefits of this supportive ecosystem. The startup's unique proposition of offering a secure and adaptive AI underscores the need for governments to prioritize not just the incubation of technology businesses but also to ensure they operate within a framework that champions security and adaptability. "In an age where data privacy concerns and the need for personalized technology are paramount, and demand will continue to grow, government support can significantly amplify our efforts to create AI solutions that are both innovative and trustworthy," states Talal Thabet, (pictured above), CEO of Haltia.AI. "The UAE's approach to supporting startups like ours through a blend of regulatory guidance, advisory support, access to cutting-edge resources and international networking opportunities is a blueprint that could well serve as a global standard."For governments looking to replicate the UAE's success, the path involves more than just drafting policies. It requires a commitment to understanding the unique challenges and opportunities within the AI sector, fostering partnerships between public and private sectors, and investing in the foundational aspects of technology innovation such as education and research. As Thabet emphasizes, "Talal Thabet. "Support from the government is not just about aiding startups with incorporation services or navigating the labyrinth of corporate taxation but building an ecosystem that nurtures innovation, adapts to the evolving tech landscape, with events, relevant expertise, connecting the social graph, and improving working and living standards."The potential benefits of such support can be illustrated in several interests and requirements of government. For one, it can accelerate the development of groundbreaking technologies that address societal challenges, from healthcare to environmental sustainability. Moreover, by fostering a competitive technology sector, governments can drive economic growth, create high-skilled jobs, and establish their countries as leaders in the digital age.As Haltia.AI and other AI startups navigate the complexities of innovation, the role of government support becomes increasingly critical. The UAE's success story offers a compelling narrative on how such support can catalyze the growth of startups, turning them from local ventures into global pioneers. Talal Thabet concludes by saying, “As the world continues to embrace AI, the synergy between startups pushing the boundaries of technology and providing solutions to further humanity and government support will undoubtedly be a defining factor in shaping the future of the world.”

RemotePass, an HR & Fintech platform that helps companies onboard, manage, pay, and retain remote workers, has secured $5.5 million in Series A funding.  The oversubscribed round was led by 212 VC with participation from investors in the US, Europe, and the Middle East, including Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund. With this funding, RemotePass's total capital raised surpasses $10 million, adding to previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs. “Witnessing RemotePass's remarkable product growth and stellar customer service since early 2023 solidified our belief in their visionary team & business model. Addressing today's workforce challenges like talent mobility and remote work RemotePass stands out as a key enabler. It connects companies seeking a broader talent pool with emerging market talents who previously lacked access to global financial solutions and processes. This disruption positions them as game-changers in the UAE & KSA, hubs poised for global dominance.” Ali Hikmet Karabey, Managing Director, 212 VC (Lead Investor) Founded by Kamal Reggad and Karim Nadi, RemotePass serves a diverse range of clients, from startups to large listed enterprises like Spotify, Logitech, Paymentology, and others around the globe, enabling them to onboard, manage, and pay their talent base in countries where they do not have a local legal presence. Its clients can hire full-time employees and contractors in over 150 countries. "Our platform helps democratize access to global opportunities, leveling the playing field for skilled individuals and enabling them to compete in a global job marketplace. This funding fuels our mission to empower countless lives and help global teams succeed." Kamal Reggad, CEO and Co-Founder, RemotePass In the evolving global landscape of remote work solutions, RemotePass has emerged as a frontrunner by capitalizing on its deep understanding of emerging markets (especially the Middle East and Africa) and offering a comprehensive suite of benefits through its innovative super app.  This app offers easy access to a range of financial services and benefits tailored to the needs of remote workers in the global marketplace, including multiple payout options, a USD debit card, and easy access to perks like premium health insurance. Apart from an end-to-end contractor management platform, RemotePass provides businesses with EoR services and relocation support.  “We are thrilled with the progress and traction that RemotePass has shown in its few years of operation. The oversubscribed funding round is a testament to the company’s robust financials, strong team, and high growth potential. What impressed us most at Wamda, and what confirmed our decision to back Kamal and his team since inception, is his entrepreneurial capability, which he demonstrated during the difficult days of the pandemic when he pivoted the company and subsequently built a great startup” - Fadi Ghandour, Founder, Wamda Capital Speaking of the pivot, RemotePass was incorporated in 2019 as a business travel SaaS platform. Having operated as a remote-first company since its inception, the founding team had first-hand experience with the challenges of hiring and managing remote teams — especially in emerging markets. The company seized the opportunity to pivot during the COVID-19 pandemic as the world began to embrace remote working at scale. This strategic shift unlocked a remarkable 35% month-over-month growth for the first two years, primarily driven by referrals from satisfied clients “The beauty of serial entrepreneurs like Kamal is that their impact doesn’t stop at their first company. We are so happy to support his journey since Hmizate (his earlier venture) and now with RemotePass as a remote company coming out of the UAE,” - Margaret Pollack, Head of Capital and Investments, Endeavor Catalyst.

SEATTLE--(BUSINESS WIRE/AETOSWire)-- Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), today announced it will launch an AWS infrastructure Region in the Kingdom of Saudi Arabia in 2026. The new AWS Region will give developers, startups, entrepreneurs, and enterprises, as well as healthcare, education, gaming, and nonprofit organizations, greater choice for running their applications and serving end users from data centers located in the Kingdom of Saudi Arabia, ensuring that customers who want to keep their content in-country can do so. As part of its long-term commitment, AWS is planning to invest more than $5.3 billion (approx. 19.88 billion Saudi riyal) in the Kingdom of Saudi Arabia. For more information about AWS Global Infrastructure, visit aws.amazon.com/about-aws/global-infrastructure.“Today’s announcement supports the Kingdom of Saudi Arabia’s digital transformation with the highest levels of security and resilience available on AWS cloud infrastructure, helping serve fast-growing demand for cloud services across the Middle East,” said Prasad Kalyanaraman, vice president of Infrastructure Services at AWS. “The new AWS Region will enable organizations to unlock the full potential of the cloud and build with AWS technologies like compute, storage, databases, analytics, and artificial intelligence, transforming the way businesses and institutions serve their customers. We look forward to helping Saudi Arabian institutions, startups, and enterprises deliver cloud-powered applications to accelerate growth, productivity, and innovation and spur job creation, skills training, and educational opportunities.”“The partnership with AWS and their announcement of an AWS Region, backed by a $5.3 billion investment, ignites a new era of technological excellence and innovation for the Kingdom,” said His Excellency Engineer Abdullah Alswaha, Kingdom of Saudi Arabia Minister of Communications and Information Technology. “This cloud Region demonstrates a firm commitment to research, innovation, and empowering entrepreneurs to achieve prosperity for our region and the world.”The new AWS Region will consist of three Availability Zones at launch, adding to the existing 105 Availability Zones across 33 geographic regions globally. With today’s announcement, AWS has plans to launch 18 more Availability Zones and six more AWS Regions in Malaysia, Mexico, New Zealand, the Kingdom of Saudi Arabia, Thailand, and the AWS European Sovereign Cloud. AWS Regions consist of Availability Zones that place infrastructure in separate and distinct geographic locations. Availability Zones are located far enough from each other to support customers’ business continuity, but near enough to provide low latency for high availability applications that use multiple Availability Zones. Each Availability Zone has independent power, cooling, and physical security and is connected through redundant, ultra-low-latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones to achieve even greater fault tolerance.AWS offers the broadest and deepest portfolio of services, including analytics, artificial intelligence (AI), compute, database, Internet of Things (IoT), machine learning (ML), mobile services, storage, and other cloud technologies. Customers from startups to enterprises to public sector organizations and nonprofits will be able to use advanced technologies from the world’s leading cloud to drive innovation, meet data residency preferences, achieve lower latency, and serve demand for cloud services in the Kingdom of Saudi Arabia and across the Middle East.

Qatar Investment Authority (QIA), the country's sovereign wealth fund, is launching a $1-billion initiative to support local and regional startups through its first-ever Venture Capital (VC) Fund of Funds.This programme aims to:Boost innovation in Qatar: By investing in international and regional VC funds, focusing on tech sectors like fintech, edtech, and healthcare.Empower startups: QIA CEO Mansoor Ebrahim Al-Mahmoud explains, "This program ensures innovative businesses have access to capital and support from VC funds to scale and expand across Qatar, the GCC, and internationally."Bridge the funding gap: QIA fills the gap for startups that have passed seed funding and require Series A to C investments.While the programme primarily invests indirectly through VC funds, it can also make targeted co-investments. It emphasizes not investing in private equity, debt, or other funds.The initiative has two key objectives:Generate market-competitive returns: This aligns with QIA's mandate of securing long-term financial gains.Foster a thriving VC and startup ecosystem: This contributes to Qatar's National Development Strategy, aiming to increase local startups and VC funding availability.Overall, this $1 billion VC Fund of Funds signifies Qatar's commitment to fostering innovation and supporting the growth of promising startups in the region.Photo by Markus Winkler on Unsplash

inDrive, a global mobility and urban services platform, announces reach six Egyptian startups from different tech sectors to the shortlisted of underdog award after launching the 1st edition last september to support successful technology startups that are thriving despite facing challenges such as limited resources, a lack of access to funding, and an inability to attend important industry events, due to their location.Ekaterina Smirnova, Head of The Underdog Tech Award commented: “The Underdog Tech Award is a business award for the ‘underdogs’ of the tech startup world, which is what inDrive once was. All too often we hear about companies from the same global capital hubs and their founders, who have graduated from the same Ivy League universities. With this award we want to support companies from other regions and empower founders, who might not have graduated from Harvard, to believe in themselves and to know that they too can change the world. Together we are building a more diverse and inclusive world, which takes into account the interests of many different communities and people, including those living in some of the world’s most remote places.”The Underdog Tech Award recognizes winners with cash prizes of $30,000, $20,000, and $10,000 for 1st, 2nd, and 3rd places respectively, as well as other assistance, including training from industry experts and PR support. The winners of the 2024 Underdog Tech Award will be announced on April 1st, 2024 at https://underdogtechaward.com/.The panel of judges will include prominent tech entrepreneurs, members of academia and industry experts. Members of the jury include Fatma Nasujo, Global Head of Corporate Operations at Wasoko; Sean Kim, President and Chief Product Officer at Kajabi; Charles Eesley, Associate Professor and W.M. Keck Foundation Faculty Scholar in the Department of Management Science and Engineering at Stanford University; Daniel Gándara, Vice President at MercadoLibre; Damla Buyuktaskin, Senior Regional Livelihoods and Economic Inclusion Officer for Asia Pacific Countries in the United Nations High Commissioner for Refugees; and Arsen Tomsky, Founder and CEO of inDrive.The Underdog Tech Award 2024 shortlistOmar Ahmed Abdelwahed and Ibrahim Karim Eid from Egypt: Co-founders, and CEO and COO respectively, of Valify Solutions, an Egypt-based RegTech company specializing in digital identity infrastructure technology. Currently the market leader in Egypt, Valify offers its services to financial institutions, telecos, e-commerce platforms, as well as companies in many other industry sectors.Mostafa Dawoud from Egypt: Co-founder and CEO of Dentolize, a fully-customisable dental practice management solution that scales with clients’ needs and enables dentists to streamline their financial, clinical, and operational processes. Dentolize can also be used for managing patients, employees, other associates including insurance companies and suppliers, inventory and much more, without the need for additional software.Ashraf Bacheet from Egypt: Co-founder and CEO of O7 Therapy, a startup revolutionizing access to mental health services through its digital platform and mobile app. O7 Therapy offers online therapy, corporate wellness programs, and psycho-educational resources, empowering Arabic-speaking people by building the Middle East’s largest mental health institution.Akhlad Mohamed Alabhar from Egypt: Founder and CEO of Egrobots, an agritech platform that enables farmers to produce more with fewer resources. Through data and analytics, their solution improves farm sustainability, reduces costs, and addresses food security challenges. Egrobots minimizes resource wastage, optimizes water and pesticide usage, and reduces chemical runoff.Mohamed Tarek Mohamed Abdelzaher from Egypt: Co-founder of P-vita, an innovative startup recycling agricultural waste to produce raw material for the cosmetics and food industry.Abdelrahman Rashwan from Egypt: Founder and Head of Product at Credify, a startup empowering digital lenders with alternative data insights, optimizing creditworthiness assessments at the point of application and driving hyper-personalized marketing post-onboarding.Basima Abdulrahman from Iraq: Founder and CEO of KESK, a startup building the first green energy platform in Iraq. KESK synergizes solar power and cloud computing technologies to build alternative energy projects and generate new revenues.[1] Victor Juarez from Guatemala: Founder of TuConsejeria, a startup focused on providing comprehensive psychological and mental health support to the Hispanic community, specifically women and young people, tackling issues such as socialization, family, citizenship training, sexual education, prevention of violence (bullying), gender equality, and education, and helping users to open up about their mental health issues.Elmira Safarova from Chile: Founder and CEO of Rarus Health, a digital ecosystem that helps to improve diagnostics, assist the families of children with rare genetic diseases and generate data to accelerate the development of drug and gene therapies.Carlos Andrés García Iguarán from Colombia: Co-founder of Numera, a platform enabling companies to automate their accounting processes, simplifying everyday tasks such as sending and receiving invoices, settling taxes and payroll, and generating timely and reliable managerial reports from centralized data.Amos Muthoni Kimani, from Kenya: Co-founder and CEO of TausiApp, an application providing on-demand beauty services to customers that don’t have time to go to a salon or spa. With TausiApp, beauticians carry out treatments wherever suits the customer best, whether that be at home, work, or elsewhere.Roikhanatun Nafi'ah from Indonesia: Founder and CEO of Crustea, a startup leveraging eco-friendly aeration technology with smart IoT to support advanced aquaculture ecosystems, helping increase pond farmers’ productivity and reduce operational costs.Chandramouli Samatham from India: Founder of Caare, a company on a mission to make basic healthcare accessible to rural and senior communities by offering a full spectrum of healthcare services via its online platform.Royford Mutegi from Kenya: Co-founder and Head of Programs at Vermi-Farm Initiative, which provides smallholder farmers with sustainable and innovative agri-tech solutions to help increase crop yields and reduce water usage, while creating routes to market for surplus produce.Sadman Sadek from Bangladesh: Founder of Digital Innovation for Impact, a startup empowering smallholder farmers by providing them with valuable meteorological, agricultural, and technological insights to help them mitigate their exposure to climate risks.Julian Garcia from Argentina: Co-founder of Wiolit, a startup on a mission to reduce food waste from institutional canteens by providing companies with a platform through which they can monitor their food consumption and adjust production accordingly to help meet CSR objectives.Biplab Karki from USA: Founder and CEO of Hyperce, a startup providing innovative and personalized e-commerce solutions to businesses of all sizes, with a goal to address the challenges of traditional e-commerce technology by offering scalable, cost-effective, and highly customizable modern suite solutions that are easy to manage.Felipe Castañeda from Chile: CEO and Founder of GLIBER, a fintech providing financial services to gig economy workers, helping them to better reach their financial goals while enabling employers to reduce employee turnover.Constantine Fedosev, based in the USA: Co-founder and CEO of Visionary, an energy storage plus cloud service for power grid companies that operate low-voltage distribution power grids. Visionary’s solution helps companies to reduce their capital and operational expenses by as much as 2-7 times, increasing the effectiveness of local renewables by up to 8 times and helping to manage distributed energy assets.Saúl Paniagua-Lapenta from Bolivia: Co-founder and CCO of VAKA, a platform connecting farmers with investors, helping investors more easily finance agricultural projects and farmers to boost production capacity through access to increased funding and technical advice.

Plus VC (+VC), a leading venture capital firm that invests in early-stage tech and tech-enabled startups in MENA and its diaspora, and the third most active VC by deals in the MENA in Q3, 2023, has announced the signing of a Memorandum of Understanding (MoU) with Tawaref, a tech investment community, financing top regional startups and offering entrepreneurial services, to accelerate the incorporation process of portfolio companies under its umbrella in the Kingdom of Saudi Arabia via its Saudi Landing program.+VC understands the increasing need for a company such as Tawaref, to accelerate time to market and help tech startups meet the challenges posed by obtaining approvals from multiple government departments and expediting the establishment process in Saudi Arabia. Saudi Landing by Tawaref is a One-Stop Shop solution that coordinates with more than 10 entities in the Kingdom and offers guidance on market entry strategies, regulatory requirements, and local business practices.Commenting on the signing of the MoU, Hasan Haider, Managing Partner of +VC, said, "At +VC, our strategy is to constantly look for new and innovative ways to help our founders thrive. With the majority of our founders keen to expand to Saudi Arabia, the signing of the MoU was key, to demonstrating our commitment to augmenting initiatives that will help our founders accelerate the establishment of commercial operations, explore fundraising opportunities, and expand their investor network. We are delighted to partner with Tawaref, their pivotal role as catalysts, their strong track record, and their highly professional team of experts can help our startups to resolve the complexities of incorporation, and strongly position them for success and scalability.”The MoU between + VC and Tawaref marks a milestone for a new way of cooperation between both parties. Under the terms of the MoU, Tawaref will work with +VC portfolio companies to facilitate the seamless setup of its operations in Saudi via its flagship Saudi Landing program. In addition, both parties jointly will share deals, investment analysis, and market trends to keep updated on regional updates.Saeed Al Ansari, Founder and CEO of Tawaref, said, “We are thrilled to have partnered with +VC which represents some incredible startups. Our vision advances our strategy to assist tech startups from around MENAP and beyond to incorporate their business into Saudi’s vibrant entrepreneurial ecosystem. This strategic collaboration will help us to incorporate the startups and establish us as a robust service provider. With our excellent track record, deep industry knowledge, extensive network, and strong connections in the tech startup ecosystem, we are confident that our dedicated team of experts will be able to provide the best-in-class services to every tech startup under the +VC umbrella. We look forward to working together with the portfolio companies, empowering them to establish their business by adding unmatched value to the founders.”

The Cloud, a Hub71 food tech startup, has announced the successful first close of its $12 million Series B funding round out of a total $30 million it is raising. The funding round saw participation from a new investor, MENA Moonshots, showcasing confidence in The Cloud's mission to innovate and expand.This milestone, coupled with debt financing from Aluna Partners, and the strategic acquisition of the UK-based food tech startup KBOX, marks a significant stride for The Cloud, founded by Georges Karam, towards redefining the virtual dining landscape in the UAE, the wider GCC region, and Europe.In a move to solidify its position as a homegrown UAE-based startup making significant inroads on the global stage, The Cloud's acquisition of KBOX strategically expands its footprint by 200 locations in the UK. This move underlines the company's commitment to driving innovation and asserting leadership in the food tech sector, setting the stage for expansion across the UK and other GCC and European markets such as Saudi Arabia, Lithuania, Belgium, and Netherlands.The Series B funding, a balanced mix of equity and debt, is a testament to The Cloud's robust business model and its vision. Having initially raised $10 million in the Series A funding, this round brings The Cloud’s total funds raised to $22 million, which highlights the company's capacity to attract strategic partners like MENA Moonshots. The investments extend beyond capital, providing invaluable expertise and access to networks as The Cloud ambitiously eyes new markets and innovative dining solutions.Georges Karam, CEO of The Cloud, shared his enthusiasm for the new developments, stating: “Our Series B funding and the KBOX acquisition reinforce our position as innovators in the global food tech landscape. Having raised a total of $22 million, we are now focused on enhancing our market presence in the UAE and beyond. Our in-house developed technology and proactive acquisition strategy reflect our vision for industry consolidation and our commitment to scaling strong homegrown brands internationally. Looking forward, we continue to actively eye more strategic acquisitions while also seeking to raise further capital.”Stefano Sciacca, Managing Director at Aluna Partners, said, “The online food delivery market is a mega trend that is here to stay. We believe that The Cloud will gain significant market share in the UK market through the acquisition of KBOX. Having looked at many food tech business models, we believe The Cloud is emerging as a global market leader and are excited to support such a fast-growing venture.”The additional capital from the Series B funding will be instrumental in accelerating growth, with a significant portion earmarked for international expansion, enhancing operational capabilities, and further developing The Cloud's proprietary technology platform.With a presence in 7 countries and 91 cities, and ambitions to reach 8,000 locations by the end of 2027, The Cloud is on track for a dual listing in Abu Dhabi and Riyadh, marking a new era of growth for the virtual chain in the EMEA region. As the company advances on this growth trajectory, it remains committed to its mission of transforming the global dining experience, empowering restaurateurs, and setting new benchmarks for quality and innovation in the food tech industry.

The Middle East Startup Awards (MESA) 2022-23, the regional round of the Global Startup Awards, honored some of the most dynamic startups from eight countries of the region at the end of a two-day conference and exhibition, hosted by the American University of Ras Al Khaimah (AURAK).The Middle East Startup Awards recognize the exceptional achievements of innovation and tech-driven startups and entrepreneurs from the United Arab Emirates, Oman, Qatar, Saudi Arabia, Bahrain, Kuwait, Lebanon, and Jordan.The Guest of Honour at the opening session was HH Sheikh Mohammed Bin Kayed Al Qasimi, Chairman of the Department of Economic Development, Ras Al Khaimah.The event also hosted the Youth Innovation Challenge, in which young minds were invited to showcase their innovative projects before a distinguished panel in the presence of the chief guest, HE Mohamed Ali Musabbeh Al Nuaimi, Chairman, RAK Chamber of Commerce.The AURAK campus hosted the two-day event, uniting experts from around the globe and the region, alongside investors and industry leaders in a distinctive celebration of innovation and entrepreneurship. The event featured keynote speeches, panel discussions, and networking sessions focused on strategies for launching, expanding, and scaling startups. Additionally, the event witnessed participation from over ten universities and attracted more than 300 participants.In his keynote address, Dr. David A. Schmidt, President of AURAK, said: “It is a matter of great pride for AURAK to host the Middle East Startup Awards. AURAK has one of the most dynamic entrepreneurship centers in the region, with a thriving student incubator that provides a supportive ecosystem for aspiring entrepreneurs. These programs often leverage technology to connect startups with mentors, investors, and industry experts. Universities can facilitate technology transfer from academic research to the commercial sector. This process involves licensing intellectual property, fostering industry partnerships, and supporting the creation of spin-off companies.”Sagarika Sahoo, Co-Founder of Middle East Startup Awards, said: “The second edition of these awards achieved remarkable success, drawing in over 3,500 nominations and culminating in the selection of 135 finalists, and ultimately producing 12 deserving winners. The event was enriched by the presence of prominent industry leaders, investors, startup founders, and fellow entrepreneurs. The response testifies to the vibrancy of the region’s startups, and we are confident the event will inspire more innovators to launch their startups and thus contribute to the national economy. The support of the Ras Al Khaimah Government and AURAK in hosting this event was unparalleled.”The winners of the Middle East Startup Awards 2022-23 are: Reachware, Saudi Arabia (Startup of the Year); Zabonex, Oman (Best Newcomer of the Year); Ms. Altaf AlThekair, Circle, Kuwait (Founder of the Year); Al Zarooni Emirates Investments, UAE (Best Family Office); Pioneer Investors, Oman (VC of the Year); Astro Labs LLC, UAE (Best Co-working Space); Misk Foundation Entrepreneurship, Saudi Arabia (Best Accelerator / Incubator Program); Mr. Hamid Alibeiki, Oman (Ecosystem Hero of the Year); Ion Microsystems, Jordan (Best Green Tech Startup of the Year); Dudi Sports Technologies, UAE (Best Health Tech Startup of the Year); Paybybit Payment Services Provider Co. LLC, UAE (Best Web 3.0 and AI Startup of the Year); Ms. Seham Yateem, Bahrain (Diversity Role Model of the Year) and Paybybit Payment Services Provider Co. LLC, UAE (People's Choice Award).The Middle East Startup Awards is the regional segment of the Global Startup Awards under the operational management of Commerce Connect Events Exhibition & Management (CCEEM). These awards celebrate outstanding ideas from 12 regions spanning across 120 countries. Selecting winners encompasses all facets of the startup ecosystem, employing a network that includes local ambassadors, country partners, national and international jury members, and key advisors comprising prominent investors, political stakeholders, founders, and community builders.

 International start-ups are increasingly vying for an opportunity to establish their global hubs in the UAE in the hopes of accelerating their growth. This is one of the key findings released today by Flat6Labs, the MENA region's leading seed and early-stage venture capital firm, based on the company’s analysis of over 4,000 applications to five cycles of its Ignite seed funding and incubator program, between June 2021 and October 2023. During this nearly two-and-a-half-year period, the number of applications from start-ups based outside the Middle East and North Africa (MENA) region grew by an impressive 284%, validating the success of the initiatives made by the UAE’s leadership to attract the world’s most innovative business leaders to the country.Flat6Labs also reported a consistent increase in the number of applications from UAE-based start-ups over the five cycles of the program, reflecting a 2x increase over the recorded window. While the Ignite program is open to start-ups from around the world, it was interesting to see that in every cycle, the number of applications from start-ups in Egypt was second only to that for the UAE.“The steady and considerable increase in the number of applications to our program over each six-month cycle indicates just how rapidly the UAE is advancing its position as a global hub for tech entrepreneurship. The nation’s highly active VC and investor community, favourable legislation, rich talent pool, high standards of living, and coveted position as the gateway to the thriving MEA region, and indeed the world, make it ideal for disruptive businesses to establish their global headquarters,” said Ryaan Sharif, General Manager at Flat6Labs UAE.Also significant was the increase in the number of applications by female-founded start-ups, which grew 244% over the last two and a half years. Impressively, female founded companies accounted for a whole 32% of all applications made to the Ignite program. Such maturing of the start-up ecosystem is also evidenced in the fact that while two and a half years ago, the number of applications was evenly split between organisations in the ideation, launch, minimum viable product (MVP) and revenue generating stages, today, the proportion is heavily skewed towards start-ups that have already started generating revenues.“Female founders are certainly at a greater advantage than they were, say, a decade ago. Governments and investors are beginning to realise the positive economic implications of being more inclusive of women in the entrepreneurial ecosystem. Work remains to be done, but the mounting evidence of the above-average potential of female founders to lead successful start-ups, combined with the rise of female-led and female-focused VCs, is welcome,” said Sharif.Flat6Labs also provided insight into the areas of business that pioneers are focusing their efforts on. HealthTech start-ups accounted for the largest number of applications to the Ignite program, followed by near-equal proportions of FinTech, FoodTech, and Transport & Logistics ventures. Interesting, not far behind was the number of GreenTech companies, which also reflects the ongoing flight of capital towards sustainable investment opportunities.Offering his outlook for 2024, Sharif said, “The start-ups that will be especially well positioned to draw investor attention in 2024 are those that have based their disruptive innovations around sectors that the government is heavily backing. 2024 therefore holds the most promise for FinTech, Generative AI, e-Commerce enablement, HealthTech and Renewable Energy Tech innovators.”

In 2024, there will be a surge in AI-driven startups, marked by the development of cybersecurity tools leveraging generative AI models and the integration of artificial intelligence as a supportive assistant.In its prediction for 2024, Positive technologies, a cybersecurity leader, sees setting up of services with the help of natural languages, private blockchain, trusted blockchain, and advanced encryption methods, which are fuelling the evolution of blockchain technology.2024 is set to feature an astonishing landscape of change for organisations across the Middle East especially in light of the region’s race towards digitalisation.Artificial intelligence and cybersecurityAlexandra Murzina, Head of Advanced Technologies, Positive Technologies, says new capabilities of generative AI have reshaped many industries this year. Just a year ago, few would have imagined the multi-pronged uses of AI: image generation, text generation along with text-to-speech, as well as scriptwriting and the creation of script-based videos in real time.“Today, we are witnessing a boom of AI-powered startups. Artificial intelligence has advanced so fast that it has taken root in some professional areas, forcing the workforce to master new tools.”This trend also applies to cybersecurity. AI technologies have benefited both defence teams and attackers. They have helped companies make threat detection and response processes more effective, and cybercriminals improve their cyber kill chains. GitHub now features many different cybersecurity tools based on generative AI models.AI as assistant“In addition, we are seeing a trend towards the use of artificial intelligence as an assistant. Take Microsoft Security Copilot, for example. This trend is pushing the industry to rethink conventional cybersecurity products.”The open-source community has contributed a lot to this progress by developing many of the ML solutions currently available. Companies, academies, and individual enthusiasts have trained many large language models, shared their image generation algorithms based on the Stable Diffusion model, and posted useful materials and tutorials. This has made advanced technologies more accessible than ever before.Knowledge distillation of large language models was a major trend of 2023. Training LLMs takes a lot of effort and using them is expensive. That's why experts are looking for a solution that would simplify this task and make it available to more people. This has resulted in quantified and distilled LLMs that can run on laptops, and some even on mobile devices. At the same time, guidelines and recommendations on performing these tasks are now available.Creating servicesAnother emerging trend is creating services with the help of natural languages. It is projected to make big strides as early as next year, enabling development of breakthrough technologies without coding. For example, prior to AI, if you wanted to build an application or query a database, you needed to know the language syntax to work with those tools. Now you can do it by writing prompts in natural languages, and LLMs will follow your instructions and apply the necessary format.Moreover, the industry's still trying to figure out what an artificial general intelligence (AGI) should be. AGI is a hypothetical type of artificial intelligence capable of performing any intellectual task even better than human professionals. There are many opinions and interpretations. In November 2023, for example, Google DeepMind published a paper presenting their vision of artificial general intelligence as a framework for classifying the capabilities and behavior of AGI models and their precursors.Growth drivers for blockchain projects in 2024In 2023, the world witnessed a rapid advancement of technology based on zero-knowledge proof (ZKP). ZPK technology already found application in a range of Ethereum L2 chains and Proof-of-Reserves approaches.It even started spreading beyond blockchain. Much work has been done in the field of identification. For example, the Worldcoin project, which was launched not so long ago, uses retinal scans to identify individuals and has already gained over one million users. Inter-blockchain technologies, such as the Cosmos and Polkadot ecosystems, will definitely continue to expand.The blockchain market is growing, indicating a rise in investment and innovation spending in this area. In addition to cryptocurrencies, blockchain is being widely used in industry and the Internet of Things. Since 2020, we've observed strong investment in blockchain projects, which is driving the application of these technologies in business.The geographic distribution of blockchain increases the sustainability of projects: North America and Asia-Pacific are leaders in the use of blockchain technology. The emerging standards and solutions such as private blockchain, trusted blockchain, and advanced encryption methods, are fuelling the evolution of blockchain technology.

As the rise of artificial intelligence continues, Middle East startups have been warned against placing an exclusive focus on advanced technology, and in the process damaging their prospects for sustainable growth.Rashit Makhat, co-founder of Dubai tech venture company, Scalo Technologies, says founders who rely too heavily on AI risk losing sight of other key business factors such as market research, customer feedback, and operational efficiency.Instead, he believes, they should focus on adopting wider ranging strategies, and also give their businesses a human touch.“AI has huge potential for greater efficiency, innovation, and disruptive impact, but the danger for startups is that an obsession with new tech can lead them astray,” cautions Makhat.“Founders must think critically, adapt to new situations, analyze and solve problems effectively, work their way through complex situations, make tough decisions, and build strategies to achieve goals.“We rarely hear talk of human intelligence in today’s tech-led business world. But the combination of problem-solving skills, emotional intelligence, and adaptability are vitally important to startup development.”Research by PWC shows that AI’s contribution to the Middle East economy is expected to grow annually between 20-34% to reach US$320 billion by 2030.“Everyone is looking for the next revolutionary solution,” says Makhat, who co-founded Scalo Technologies following 15 years of top level experience in telecommunications, mining, information technology, and asset management in banking and real estate.“But successful startups understand that technology is just one piece of the puzzle, and know they must maintain a balance in the way they go about developing their business.”“Who can guarantee which of today’s brilliant ideas will become a long-term success? Relying solely on cutting-edge AI technology can be risky. Unproven algorithms or poorly understood models may damage reputation and business viability.”Makhat adds: “By tailoring services to the unique needs of the region, and by prioritizing customer experience and localization, Middle East startups can navigate the tech landscape more effectively, making sure their growth is stable and sustainable.”

Samsung Electronics Co., Ltd. today announced it will be showcasing new innovative projects developed from its C-Lab program at CES® 2024, which runs from January 9 through 12. During the showcase, Samsung will highlight 15 startups and projects — the highest number the company has ever featured — at Eureka Park at the Venetian Expo in Las Vegas, the main exhibition space for startups at the world’s biggest tech show.This year's CES is expected to feature more than 1,000 startups and attract more than 130,000 visitors from around the world, including business executives, investors and media. At the event, Samsung expects startups from C-Lab to assess global market responses, strengthen their business feasibility and meet with investors.“The goal of the C-Lab program is to elevate a platform for startups to grow and flourish,” said Pilgyu Jeon, Executive Vice President and Head of the Creativity & Innovation Center at Samsung Electronics. “CES is the perfect venue for these exciting companies and projects to show major tech players that they belong on the global stage.”The C-Lab program was created in 2012 and since it was established, Samsung has nurtured a total of 872 startups and projects. This includes 475 through C-Lab Outside and 397 through C-Lab Inside. In particular, the 537 C-Lab startups (62 from C-Lab Spin-off and 475 from C-Lab Outside) have raised a cumulative total of $1 billion in investment.C-Lab Outside: Ten Startups That Include AI, Energy and Healthcare ProductsC-Lab Outside was created in October 2018, and startups selected for the program receive full support — including office workspaces, customized development programs and investment — along with business cooperation from Samsung Electronics. Dr.Tail, an online veterinary consultation service, has collaborated with Samsung Electronics to bring its services to Samsung Smart TVs and will be exhibited at the C-Lab booths at CES.In addition to Dr.Tail, Samsung Electronics will exhibit nine other startups selected and supported by the C-Lab Outside program:RebuilderAI: AI solutions for fast and easy 3D content creation on smartphonesGhost Pass: decentralized remote biometric authentication solutionsDEEPX: an NPU-based AI semiconductorStyle Bot: a fashion recommendation service based on user-owned clothing dataVsion: a smart window with adjustable transparencyDolbomDream: a smart, inflatable jacket designed to monitor the health of senior citizens60Hertz: an AI-powered virtual power plant (VPP) solutionWrtn Technologies: a generative AI portal serviceNdotLight: a web-based collaborative 3D design platform"We are excited to be part of C-Lab’s high-profile startup booth at Eureka Park," said Sunkwan Lee, CEO of Ghost Pass. “Thanks to the support of Samsung C-Lab, we won the CES Innovation Award this year, which I think makes this year’s CES a good opportunity for us to take a step toward going global."Two C-Lab Inside Projects From Samsung Employees and Three C-Lab Spin-off Startups That Started at SamsungSamsung has been exhibiting its C-Lab Inside projects at CES since 2016, and this year’s CES exhibit will feature two projects that are currently being fostered in-house. These projects are from the healthcare and pet-tech sectors and have been highly regarded for their innovation, marketability, and completeness:ID.EARS: a healthcare platform that analyzes brain waves captured by earbudsDumboCam: a pet training platform that utilizes Vision AIIn 2016, Samsung Electronics introduced its C-Lab spin-off program, which allows C-Lab Inside projects with high market potential to be launched as fully-fledged startups. At CES 2024, three C-Lab spin-off startups — which initially started as C-Lab Inside projects — will showcase their innovative products in C-Lab booths:Yellosis: smart toilets and AI healthcare solutions based on measurement of liquid body wasteBecon: AI-powered hair loss management solutionsGoose Labs: metaverse home workout app with real-time motion-sensing avatarsC-Lab Startups Win 23 CES 2024 Innovation AwardsIn November 2023, the Consumer Technology Association (CTA) announced the winners of the CES 2024 Innovation Awards, including the award for Best of Innovation. Projects from the C-Lab program received one Best of Innovation Award and 22 Innovation Award Honorees.Samsung is sharing its knowledge of winning CES Innovation Awards and entering the global market with the C-Lab startups, which has allowed them to find success. At CES 2024, 16 C-Lab Outside startups were named as Innovation Award Honorees. As for C-Lab Spin-off startups, one project received a Best of Innovation Award and four were named Innovation Award Honorees.Specifically, STUDIO LAB — a startup spun off in 2021 — won the CES Innovation Award. The company’s products include Seller Canvas, an AI-based commerce detail page automation service, and Photo-bot, an automated commerce photography robot that combines AI and robotics.Yellosis and DEEPX — two of the startups being exhibited at the C-Lab booths — each received Innovation Awards in three categories. Yellosis is a digital health startup spun off in 2020 that developed Cym702 Seat, a smart toilet that automatically measures liquid body waste and provides health management solutions. The company also developed Cym702 Circle, a smart toilet that simply measures glucose in liquid body waste in public restrooms. Yellosis won CES Innovation Awards in three categories, including Digital Health,Smart Cities and Product in support of human security .DEEPX was founded in 2018 and develops edge AI chips for computational processing of AI algorithms such as deep learning-based object recognition, face/voice recognition, image classification and image quality improvement. DEEPX is the first AI semiconductor company to win CES Innovation Awards in three categories, including Embedded technology, Robotics and Computer hardware & components.

Nawel, a cutting-edge Saudi tech startup specializing in revolutionizing logistics and supply chain solutions, announced today that it has successfully raised $1 million in a pre-seed funding round. The round was led by NOMD Holding, a prominent investment firm known for its support of innovative startups in the technology sector. Nawel has rapidly emerged as a frontrunner in optimizing supply chain operations through its innovative approach of repurposing underutilized spaces within warehouses and retail establishments. The startup's proprietary technology, coupled with its strategic location-based solutions, addresses the increasing demand for efficient and customer-centric logistics services."This pre-seed funding round marks a significant milestone for Nawel, and we're excited to have NOMD Holding as a strategic partner on our journey," said Mohammad Balsharaf, Co-Founder and CEO of Nawel."The support from NOMD Holding validates our mission to redefine how businesses approach storage, fulfillment, and delivery, ultimately enhancing customer experiences across the board." Nawel's unique offering includes the establishment of delivery hubs that serve as sorting centers for bulk parcels, allowing for faster and more cost-effective last-mile delivery. The startup's micro-fulfillment solutions further empower the "quick commerce" sector by enabling rapid fulfillment of fast-moving and promotional items, unlocking new avenues for growth for ecommerce businesses."We're thrilled to lead this pre-seed funding round for Nawel," stated Mohammad Al khushil, Chairman at NOMD Holding."Their innovative approach to optimizing logistics aligns perfectly with our investment strategy, and we believe Nawel has the potential to make a significant impact on the future of supply chain management in the region." With this injection of capital, Nawel aims to accelerate the expansion of its network and enhance its technological infrastructure. The funds raised will also be utilized to further develop Nawel's unified warehouse management system, enabling businesses to streamline their operations and provide exceptional customer experiences.

Saudi Arabia’s pioneering healthcare technology start-up, Clinicy, has successfully raised a significant seven-figure (USD) Series A funding round, led by Middle East Venture Partners (MEVP), structured by Gate Capital and with participation from existing shareholders including Kafou Group and Fadeed Investment.The funding round is one of the largest in the history of the Kingdom’s healthtech sector and will be used to fuel Clinicy’s expansion across a market sector worth SAR 7.2 billion in Saudi Arabia alone. Clinicy’s growth includes broadening its technological reach and the development of a unique, proprietary ‘Interconnected HealthTech Ecosystem’, which will support the rapid evolution of the sector in line with Vision 2030’s goals to transform healthcare efficiency and accessibility.Prince Mohammed Bin Abdulrahman Abdullah Al Faisal, CEO and Co-Founder of Clinicy, highlighted the investment’s impact: “Clinicy is already making a real, tangible impact on redefining healthcare in Saudi Arabia, enhancing digital experiences for one million patients across the Kingdom. This latest investment will fuel expansion and it underpins our vision to deepen the quality of engagement with medical institutions and patients, ensuring that our technology makes healthcare more accessible, efficient, and user-friendly. Clinicy is proud to support the nation's digital growth and align with Vision 2030 to improve accessibility to healthcare by prioritizing innovation and financial stability. We are proud to receive the prestigious backing of Middle East Venture Partners, Gate Capital, Kafou Group and Fadeed Investment, and look forward to accelerating the future of healthcare across the Kingdom and region.”Walid Mansour, Co-Chief Executive at Middle East Venture Partners (MEVP), commented: “Saudi Arabia is witnessing a rapid adoption of technology in the healthcare industry which is driven by a digitally-savvy population, continually improving standards set by the government, and growing competition between healthcare providers. Clinicy offers a seamless cloud-based platform that enables clinics and medical centers to offer digital services, run a cost-effective business, and continuously improve their healthcare standards.”Munther Hilal, Chief Executive at Gate Capital, added: “Clinicy is well-positioned to drive the digital transformation in the Kingdom’s HealthTech sector. This investment marks our first foray into the Saudi market, following the recent establishment of our Riyadh offices. We envision numerous opportunities in the Kingdom that we are committed to supporting and nurturing in the years ahead.”Clinicy was founded by Prince Mohammed Bin Abdulrahman Abdullah Al Faisal, Abdullah bin Sulaiman Alobaid and Saud bin Sulaiman Alobaid, bringing the first innovative cloud-based SaaS for medical institution management to the Kingdom. Clinicy’s solutions offer customized patient experience platforms, automating critical processes such as patient onboarding and retention. It directly addresses prevalent issues such as high patient ‘no-show’ rates and administrative inefficiencies, which cost the Saudi healthcare industry over SAR 3 billion annually. On average, medical institutions using Clinicy have reduced the rate of missed appointments by 75%. The proprietary platform also integrates clinics with regulatory bodies and the broader healthcare ecosystem, ensuring a comprehensive and versatile tool which can improve healthcare delivery for patients.

Soum, the Riyadh-headquartered marketplace for secondhand products, has successfully secured $18 million in Series A funding. This funding round is led by Jahez, with participation from Isometry Capital along with existing investors participating, Khwarizmi Ventures, Alrajhi Partners, and Outliers Venture Capital.Founded by Fahad Al Hassan, Bader Almubarak, and Fahad Albassam, Soum has witnessed tremendous growth since its seed round 18 months ago. The company’s sales have grown by 40x, underpinned by strong and improving unit economics, and maintaining an outstanding customer satisfaction score. Soum has delivered to and from 150+ Saudi cities, effectively building a first-of-its-kind unified national marketplace to buy, sell, and discover products with trust and convenience. The Soum app launched less than two years ago has already received more than 4 million downloads in the Kingdom of Saudi Arabia (KSA) and is seeing traction in the United Arab Emirates. Soum’s Series A funding will accelerate the company’s expansion regionally, as well as beyond its core vertical of secondhand electronics in which it enjoys market leadership in KSA. With the addition of high value categories for secondhand products, Soum will enable users to sell products ranging from collectibles to automobiles, tapping a combined $40Bn market.Fahad Alhassan, Co-Founder & CEO of Soum, said, "Soum was founded with a vision to be the marketplace to buy and sell anything online with convenience, trust and ease. The success of this funding round is a testament to the dedication of our entire team. With the backing of the region’s leading investors, we are excited to kick-off our next stage of growth, while continuing on our mission to transform how customers buy and sell online."Buyers and sellers in the MENA region have endured the frustration of navigating spam-infested classified platforms. By acting as a trusted intermediary for each transaction, Soum alleviates the stress of both buyers and sellers, ensuring a seamless and secure transaction.Commenting on the investment round, Abdulaziz Alhouti, Chief Investment Officer of Jahez, stated, "We are impressed by the remarkable achievements of the Soum team. Their dedication to innovation and customer satisfaction aligns with Jahez's vision. This investment is a testament to our confidence in Soum's potential to redefine the e-commerce landscape in the Middle East."With the Series A funding as a catalyst, Soum is poised for continued growth, aiming to set new standards in innovation, customer satisfaction, and market impact in the Middle East. Soum is a mobile app and available on the Apple App Store and Google Play Store.

Yango has announced that it is now possible to sign up for the public beta testing of its human-like AI assistant Yasmina.The assistant is built and trained to understand various Arabic dialects and can respond in Khaleeji and English. Saudi residents are now welcome to enroll in the beta testing and be among the first to interact with Yasmina.Yasmina has a unique capability to engage in authentic, consistent, and enjoyable conversations, making interactions feel remarkably natural and relatable. Yasmina knows local jokes, recognizes whether the user is male or female, and puts on only age-appropriate content when interacting with children.Yasmina’s ability to maintain an engaging conversation is based on a large language model. Dozens of copywriters and hundreds of individual content contributors edited and perfected dialogs to fine-tune the model, allowing it to learn and grow into Yasmina’s unique Khaleeji personality.Hundreds of local residents from various locations across the Kingdom of Saudi Arabia, including Riyadh, Jeddah, and Dammam, took part in training Yasmina’s speech recognition, enabling the assistant to understand a wide variety of speech patterns, intonations, and dialects.On a more practical level, Yasmina works as a smart home center: you can ask Yasmina to adjust the room temperature, turn on the vacuum, or find a new recipe. More than just an app on your phone, Yasmina can be built into other apps and smart home devices, making them friendlier and easier to use, ultimately bringing new user experiences.Samer Mohamad, Yasmina Regional Director for MENA, Yango: “Our mission at Yango is to transform global technologies into everyday services for communities around the world. This is why we created an Arabic-speaking smart assistant that helps complete everyday chores more efficiently, fits perfectly in any GCC home, and can, among other things, inform users of prayer times. Right now, we’re fine-tuning Yasmina’s LLM to make the assistant even more fluent, creative, and emotionally intelligent.”

VAST Data, the AI data platform company, announced today that it has secured $118 million in Series E funding, led by Fidelity Management & Research Company and accompanied by New Enterprise Associates (NEA), BOND Capital and Drive Capital.The funding will advance VAST Data’s mission to deliver a new category of infrastructure that puts data at the center of how systems think, react, and discover. This breakthrough will empower organizations to effectively address their most pressing data challenges, enabling unprecedented advancements in technology, economics, social dynamics, and scientific research.The VAST Data Platform unifies storage, database, and containerized compute engine services into a single, scalable software platform architected from the ground up to power AI and GPU-accelerated tools in modern data centers and clouds. The platform uniquely enables organizations to understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value.“A new AI data stack is required,” said Renen Hallak, CEO and Co-Founder of VAST Data. “To be truly impactful in this era of AI and deep learning, you not only want to have a lot of data, but also high quality data that is correctly organized and available at the right place, at the right time. The VAST Data Platform delivers AI infrastructure that opens the door to automated discovery that can solve some of humanity’s most complex challenges.”“We believe that VAST Data is a pioneer in the AI GPU space,” said Scott Sandell, Chairman, CEO and CIO at NEA. “With deep learning at the center of the massive AI movement we are experiencing, interest and investment in VAST Data has escalated, and we are thrilled to partner with the VAST Data team as they drive influence and innovation in the global AI technology sector.”The funding follows a pivotal 2023 calendar year, marked by:  Impressive Business Momentum: At the end of FY’Q3, VAST Data surpassed $1 billion in cumulative software bookings. The company achieved 3.3x year-over-year (YoY) growth and maintained positive cash flow for the last 12 quarters with a gross margin of nearly 90%.  Organizations Across All Industries Trust VAST Data: VAST Data has amassed a growing customer roster of global enterprises including Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, among others, signaling strong market validation.  Reimagining AI Cloud Infrastructure: Through innovative customer partnerships with companies like CoreWeave, Lambda and Core42 (formerly G42 Cloud), VAST Data is delivering the infrastructure that is purpose built for next-generation AI clouds.  Deepened Commitment to Partners: Since its founding, VAST Data has worked closely with partners to break down technology tradeoffs and barriers while improving the overall customer experience. In May 2023, VAST Data furthered this mission with the VAST Data Platform achieving NVIDIA DGX SuperPOD certification, making large scale AI deployments simpler, faster, more reliable and easier to manage. In April 2023, VAST Data entered into a strategic partnership with HPE, helping enterprise customers manage unstructured data with high performance at scale to deliver superior time to data insight.  Global Expansion: Now with more than 700 employees worldwide VAST Data is actively broadening its business footprint, penetrating new regions in Asia Pacific, the Middle East, and Europe.Supporting QuotesThe VAST Data Platform's capacity to process large quantities of data at unparalleled scale and speed signifies a transformative shift in industry operations, underscoring the pivotal role of deep learning AI in shaping future advancements. This sentiment was shared by customers and partners across the industry, including:“Data is every company’s most valuable asset,” said Manuvir Das, vice president of Enterprise Computing at NVIDIA. “NVIDIA and Vast Data are collaborating to enable enterprises to harness their data using accelerated computing and cloud-based AI solutions to tackle their biggest challenges.”"Some of the most data-intensive and computationally advanced customers on the planet trust CoreWeave, NVIDIA and VAST to deliver the most secure and scalable solutions on top of the industry’s fastest and most flexible AI infrastructure," said Michael Intrator, CEO and co-founder of CoreWeave. "We’re honored to partner with VAST to provide purpose-built accelerated computing solutions that solve the complex AI and data challenges that enterprises face now and into the future.”"Data is the only competitive advantage in AI and therefore infrastructure that can simplify and scale data access is crucial for any organization training AI models," said Sanjeev Mohan, Principal, SanjMo. "With a modern data platform fine-tuned for the performance and scale AI requires, VAST Data is well-positioned to capture a massive opportunity."

Oasis Defender, a UAE-based startup, is advancing multi-cloud security with its AI-driven SaaS solution for cloud network security, designed for unified visualization and configuration across multiple clouds.In 2023, the UAE cybersecurity market is valued at approximately USD 522.06 million and is projected to reach USD 950 million by 2028, showcasing a CAGR of 12.72% from 2023 to 2028. Although the UAE ranks second worldwide in cloud adoption, businesses in the region are also facing a surge in cyberattacks. These attacks lead to breaches of sensitive data and result in substantial financial losses, underscoring the need for robust cybersecurity for both cloud and multi-cloud adopters.Oasis Defender offers a SaaS solution for cloud network security. Powered by AI, their platform ensures safe and secure cloud network configurations. The platform consolidates security details from various clouds into a single, user-friendly interface, helping businesses reduce human errors, swiftly identify potential breaches, and stay compliant with the data and privacy regulations across the GCC region and others.Among the key features that this SaaS cloud network security solution offers are:Securing the entire cloud infrastructure across multiple providersOffering a seamless process for visualizing and managing multi-cloud security configurationsUsing AI and machine learning to detect potential vulnerabilities and threatsConsolidating security data from various cloud providers into a unified, user-friendly dashboardLeveraging the strengths of each cloud for enhanced securityOasis Defender aims to foster collaboration and innovation within the cybersecurity community to tackle the digital challenges contemporary businesses face. An interactive demo of their AI-driven cloud network security solution is now available for security enthusiasts. "We're glad to announce that our SaaS solution for cloud network security is ready for public evaluation," stated Michael Rostov, CEO of Oasis Defender. "We're dedicated to continuous innovation and updates for our platform, and we welcome security experts to contribute to its enhancement."Oasis Defender encourages B2B users, developers, security professionals, and IT decision-makers to explore their solutions and provide valuable feedback and reviews.

XPANCEO, a deep tech startup, has raised a $40 million seed round to launch the first contact lenses with AR vision features. The round was led by Hong Kong-based Opportunity Ventures (Asia). The funds will be invested to launch the next prototype, in which the company will gather several features in one device.After several attempts by other companies to create smart lenses, the XPANCEO team has created and successfully tested in the laboratory three separate prototypes to enable night vision and zoom, real-time health monitoring, and the ability to see video and graphic content in AR. The new device, which is the world’s first ultra thin lens, feels as natural to the wearer as their own vision. It is made of advanced optical materials (including low-dimensional and van der Waals materials), which exhibit record-breaking refractive indices and anisotropy and maintain excellent optical properties. The new device is aimed to unleash the full potential of AR technology by making it accessible and easy to use.The company was founded by Valentyn S. Volkov, a Ukrainian scientist who boasts over 7000 citations in some of the most respected international media, and Roman Axelrod, an experienced entrepreneur with three previous exits. XPANCEO's multidisciplinary team includes over 50 outstanding scientists, engineers and executive leaders from top universities, research institutions and deep tech companies, and gathers expertise both in science and novel technologies as well as product management and development in complex markets. XPANCEO also collaborates with top scientists from universities all around the globe, such as the Donostia International Physics Center (Spain), Chalmers University of Technology (Sweden), National University of Singapore (Singapore), University of Oviedo (Spain),University of Manchester (UK), Aix-Marseille University (France) and the University of Zaragoza among others to create the first all-in-one prototype by 2026.Co-founder and Scientific Partner, Valentyn S. Volkov, Ph.D. says: ''We are targeting, at least, the $790 billion Augmented Reality and Contact Lenses market, and creating the first device in the market that will allow us to use all apps and software in a single contact lens interface. Our device will effectively merge all your gadgets into one. XPANCEO was recognized as one of the top five optic laboratories in the world by international consulting firm BCG, and has practical experience in developing and studying unique materials (like graphene and other 2D materials), opening a way for the realization of next-generation ultra-compact optoelectronic devices."The use of classical optoelectronic materials and technologies has proven insufficient to realise this project, as the resulting components are too bulky to be effectively integrated into a practical and user-friendly contact lens. XPANCEO combines over 20 patented technologies in Advanced Optic and Photonics, Novel material, AI, and Neural Interfacing to create ultra-compact and highly efficient optoelectronic devices in smart contact lenses, paving the way for a gradual transition from traditional silicon technologies to the "graphene valley’’ future.The high refractive indices, coupled with the giant anisotropy of the materials used in waveguide-based devices, are key factors that enable a more efficient light bending and guiding process compared to modern optical devices. This opens up possibilities for the realisation of ultra-compact optical elements. Another key technology developed by XPANCEO is its flexible and transparent electronics, based on highly conductive quasi-2D metallic films with thicknesses of only a few nanometers. To engage with these technologies, we employ AI to develop models capable of accurate predictions regarding the optical characteristics of similar materials. Neural Interfacing gives the user full control over the applications, without the need for awkward eye movements, blinks, or extra controllers.Opportunity Venture’s (Asia) Managing Director Philip Ma says: “We led this round of funding as a testament to the fact that XPANCEO has not merely an ambition but also a capacity to deliver on its product vision. We believe that now XPANCEO has all the resources needed to drive their R&D and product design forward, and do it even faster. Opportunity Venture (Asia) sees the potential in XPANCEO to define the next generation of computing and to become a major player in the world of personal tech in the post smartphone era."

Expand North Star, the world's largest startup showcase, kicked off yesterday at the new Dubai Harbour venue, featuring the latest innovations in robotics, AI, and entrepreneurship. The four-day event brings together 1800 startups from 100 countries and over 1,000 investors with over $1 trillion under management.Meet ARTEMIS, the World's Fastest-Walking Humanoid RobotOne of the event's highlights was the first live stage demonstration of ARTEMIS, the world's fastest-walking humanoid robot, developed by UCLA researchers. This versatile robot can walk on any terrain using custom-designed actuators that mimic biological muscles, unlike most robots with rigid, position-controlled actuators.ARTEMIS stands at 4 feet, 8 inches and weighs 85 pounds. It can run and jump on rough, unstable surfaces with a speed of 2.1 m/s. The developers' goal is for the autonomous soccer playing robot team to defeat a human world championship team by 2050.Dr Dennis Hong, the visionary behind this groundbreaking innovation, explained that the key behind ARTEMIS' excellent balance while walking on uneven terrain and its ability to run was the ability to get both feet off the ground while in motion, a revolutionary feat for robots.Empowering Youth Entrepreneurs to Shape the FutureExpand North Star also hosted YouthX Unipreneur, the biggest youth entrepreneurship programme in the region, inspiring students to become the chief architects of the future. The programme attracted more than 1,500 students from over 40 schools and universities, who pitched their innovative ideas to a panel of experts. More than 600 youth ambassadors and 50 on-stage and off-stage engagements were also part of the programme.Hassan Sabt, President of Dubai Youth Council, highlighted Expand North Star's significance as a platform for young investors and startups to learn from global industry leaders, compete in live events, share ideas and develop leadership skills."The Dubai Youth Council was founded under the direction of our leadership to empower Emirati youth to take an active role and lead strategic industries. The platform also fosters connections while maximizing efforts towards achieving national and global goals. There is no better investment in a country than investing in youth.” he said."Our partnership with GITEX YouthX at Expand North Star is just the beginning of much bigger plans to assume more impactful measures on behalf of Emirati youth," added Sabt.Leveraging AI/ML to Create Products that Make an ImpactAnother key session at Expand North Star was a panel discussion on using artificial intelligence and machine learning to create products that dent the universe. The panel featured product managers from global unicorns such as Bolt, Reddit, and Booking.com, who shared their best practices and tips for founders, including Ali Rana, VP of Product at Bolt, Mayank Yadav, Director of Product at Reddit, and Sanchit Juneja, Director of Big Data and ML at Booking.com.The panellists cautioned against falling for the AI hype. Adopting technology for its own sake with no added value is a sure way to fail as an entrepreneur. Technology, the audience heard, must solve an existing problem. That said, the speakers warned, business owners must keep abreast of technological evolution as many paradigms have changed, affecting careers people thought were indestructible.Demystifying the Entrepreneur JourneyGary Blowers, CEO of UAE-based LVL Well-being, shared his experience raising funds for his startup on the Spotlight Stage. The company joined an accelerator program in July 2021, hoping to raise capital in six months. Pitches to hundreds of investors yielded nothing. "Raising capital is a marathon, not a sprint. It's also essential to understand that everyone's journey in raising capital is different, and it takes time in this challenging market. But don't get too caught up with raising capital that you forget to grow the business; keep one eye on the commercials," he urged. "I've learned some valuable lessons during this process," he continued. "First, your data room is crucial to your success. Keep it updated to reflect your evolving business. Second, be brutally honest with yourself and your team. Communicate candidly, even when things don't go as planned."Blowers highlighted the importance of the founder and team's well-being. "The entrepreneurial journey can negatively impact mental health, leading to burnout and depression. Prioritize your well-being and create a healthy work culture. Taking care of yourself and your team is key to completing the fundraising marathon and being ready to win at the end."Expand North Star is the ultimate global destination for startup innovation and inspiration. The event will run until 18 October 2023 at the Dubai Harbour, the Middle East's biggest iconic superyacht hub.

In this captivating interview, Bumblebee founder Qadreya Al Awadhi shares the heartwarming and inspiring tale of the company’s origins. From the discovery that sparked her mission to the challenges faced along the way, Qadreya Al Awadhi's insights offer a glimpse into the world of nutritious baby meal plans. As Bumblebee continues to empower parents with healthier choices and cultivate a positive food culture, her vision stands as a beacon of hope for the well-being of our youngest generation. Can you share the story behind the creation of Bumblebee? What inspired you to start a business focused on nutritious meal plans for babies and toddlers?I was babysitting my friend's son, and was feeding him the supermarket brand pack. I noticed that it lacked taste and colour. So I turned packet around and found that it was manufactured before the baby was even born! This is why I started Bumblebee, to offer parents healthy, delicious and nutritious ways to feed their children.How did your experience babysitting your friend's son lead you to recognize the need for healthier and more nutritious meal options for children in the region?I was looking for alternatives to feed him but couldn't find any, so I had no choice but to cook for him. I started experimenting with my family and friends and did my own market search. I took all their feedback and developed the products with the help of a child nutritionist.In a market where baby food options already exist, what unique aspects does Bumblebee bring to the table? How do your products stand out from the competition?Ours is the only frozen baby food in the country. The packaging is reusable and resealable, specifically made for easy travel to help working moms and moms on the go. Of course, contrary to supermarket brands, our method of cooking actually preserves the nutrients of the meals.How do you ensure that each product is both nutritious and flavorful?Bumblebee emphasizes the use of locally sourced ingredients and hormone-free, grass-fed proteins. How do these sourcing choices contribute to the quality and healthiness of your products?In today's world of consumption and globalization, especially with the rise in global population, the need to feed all those people is being advantage of by greedy corporations. For example, many companies pup their chickens full of antibiotics and hormones to grow bigger in a matter of weeks. Many vegetables are sprayed with chemicals to make them grow bigger and retain their colour. Studies have shown that none of those are actually healthy for the human body; hence we make it a mission to protect the little ones from harmful chemicals. Our local farmers do not use any chemicals. In fact, we are growing our own farm to self-supply as the business grows.With concerns about childhood obesity on the rise, how does Bumblebee's approach to meal plans contribute to addressing this issue?At Bumblebee, we do not use any processed foods, any salt, sugar or preservatives. We believe in keeping our food clean, as data shows that introducing ingredients like salt, sugar, and butter actually contributes to childhood obesity. Our 'fats' are actually pure ingredients like avocados, olives, or nuts. We believe in making our foods from scratch; this also includes our own sauces and pastas so we can control the ingredients put inside.What challenges did you face when starting and growing Bumblebee? How did you overcome these challenges?The biggest challenge was arranging logistics. My food is temperature-sensitive; and finding a partner to deliver the packages on time in a temperature-controlled van was the biggest challenge. In fact, I went through 13 suppliers before finding the right partner.Bumblebee's mission includes fostering a healthy relationship with food for children. Can you elaborate on how your products and approach achieve this goal?I noticed that there is a lack of vegetables in children's diets as popular cuisines mostly focus on carbs and protein. The lack of vegetables, especially green veggies, often leads kids to grow and become picky eaters. At Bumblebee we have a team of certified chefs that understands the complexity of flavour and cleverly cook the less popular vegetables in a method that appeals to children. By introducing children to new ingredients, we help them grow out of their picky eating phase and form a healthy relationship with food.The Immunity-Boost and Iron Man Pack are recent additions to your product range. Could you share some insights into the nutritional benefits these packs offer for babies?We often have moms reach out to us whose babies have low iron, or are underweight. We carefully created and tested many products to help babies grow healthier in a natural way. For instance, our Iron Man pack has iron-rich ingredients and vitamin C to help aid adsorption. We use natural and clean ingredients like beetroot, broccoli and grass-fed beef.Bumblebee supports the National Strategy for Wellbeing 2031. How does your company align with this strategy, and what steps are you taking to contribute to the well-being of children in the UAE?One of the main pillars of the strategy is to build a healthy society; we aim to do so by providing our children with healthy meals that will them grow into becoming healthy adults. We aim to educate caregivers and schools about the importance of early childhood nutrition and the impact it has on adulthood.As a female founder and CEO in the business world, what advice do you have for other aspiring women entrepreneurs who want to make a positive impact through their own ventures?I would say study your market, and do your own R&D before you launch to understand the market dynamics. This country has many mechanisms in place to support small businesses and this country also supports women pursuing their passions. I say make use of it and take that leap of faith and invest in yourself.Can you share some success stories or feedback from parents who have used Bumblebee products for their children?We have many happy moms; in fact, most our customers are returning moms. I personally contact parents to get their feedback and much of it has helped me grow. For instance, we launched the Iron Man pack and the Immunity Pack because of their feedback. We also introduced allergen-friendly foods for kids who are sensitive to dairy, gluten, eggs and nuts.In terms of the future, what are your aspirations for Bumblebee? Are there any exciting developments or plans that you can share with us?We hope to grow to become the first choice of meals for moms in the UAE. We are in talks with some retailers to stock our meals at supermarkets, but it is still too early. 

They say necessity is the mother of all inventions. And Bumblebee was birthed from this very concept. Emirati female-founder, Qadreya Al Awadhi babysat her friend’s son and realized the lack of healthy or nutritious meals available in the region.The 27-year-old Emirati Founder and CEO identified this gap in the market and was determined to help mothers provide a healthy alternative for their babies. Qadreya founded Bumblebee in 2022, as a homegrown business of ready-made frozen meal plans for babies and toddlers.With the rise in awareness of nutritional and safety aspects of baby foods, the home-grown brand also aims to reduce the rates of obesity which results from bad eating habits at an early age. Keeping in mind the importance of serving nutritious food in line with dietary requirements for babies, Bumblebee packs are developed while being rich in flavour without any added salt and sugar or preservatives. All the brand’s ingredients are sourced locally, and the source of protein are hormone-free and grass fed.“I created Bumblebee after I realized the improper food habits consumed by young children. Providing your little ones with the right nutrition and diet can start them on the road to eating right and staying healthy at the outset of their lives and is the best gift you could give them as responsible parents,” states Qadreya.All Bumblebee food is cooked from scratch, and the range offers new flavours and textures with meals to cater for every child’s needs.Discover some of Bumblebee Food’s best-selling products that include Berry Blast; Veggie Mix; Meatballs and Sauce; and Spinach Pancakes. The brand's latest addition, the Immunity-Boost and Iron Man Pack are deliciously crafted to provide the optimal nourishment for your babies.“Bumblebee’s mission is to ensure a child develops a healthy and sustainable relationship with food. Our aim is to find effective ways to address obesity among children; and to be an instrument in supporting the National Strategy for Wellbeing 2031,” adds Qadreya.With the use of fresh, organically sourced ingredients, the products can stay in the freezer for two months

Dubai: UAE-based restaurant-tech startup Growdash has closed a $750,000 pre-seed round of funding, which will help drive expansion across the Gulf Cooperation Council (GCC). Cairo-based seed and early-stage venture capital firm Flat6Labs led the round along with participation from Plus Venture Capital (+VC), Judah VC, TPN Investments and several angel investors, such as former Talabat CEO, Abdulhamid Alomar, and serial entrepreneur Zeid Husban.The new capital will be deployed to hire new talent, further augment its offerings with innovative features and expand its services across the wider region, the company said in a statement.Talabat and Deliveroo alumni Sean Trevaskis and Enver Sorkun founded Growdash in 2022. The startup helps restaurants unlock the power of analytics and business intelligence to build and execute growth strategies that positively impact bottom-line profitability.  Growdash currently operates in the UAE and Kuwait. The company is set to launch its SaaS solution in Qatoar and Saudi Arabia this year, followed by expansion into the wider region in early 2024.“We have grown by over 500% this year, so far, which validates the problem we are solving for restaurants,” said Sean Trevaskis, Co-Founder & CEO of Growdash. “This funding will help us further accelerate our growth and achieve our goal of empowering restaurants everywhere to stand out in the highly competitive online food delivery landscape,” he added.

TECOM Group PJSC celebrated ten years of enabling Dubai’s entrepreneurial ecosystem through its start-up incubator, in5, by launching in5 Science. Announced in collaboration with Dubai Science Park, the Group’s science-focused ecosystem, the incubator will facilitate entrepreneurship and investment for science-based start-ups under the Dubai Economic Agenda ‘D33’ umbrella.The UAE’s emphasis on sustainability, in line with the Road to Net Zero by 2050, COP28, We the UAE 2031, and National Food Security Strategy agendas, has unveiled significant opportunities for innovation, investment, and entrepreneurship across the science sectors. in5 Science’s launch is aligned with these government strategies and supports the UAE’s recognition of 2023 as the ‘Year of Sustainability’. It is also in line with the Dubai Economic Agenda ‘D33’, which promotes foreign direct investment and economic diversification, and raises Dubai’s attractiveness for homegrown and international founders to explore opportunities across health, sustainability, advanced manufacturing, and energy.in5 operates three centres enabling businesses and innovation in Tech in Dubai Internet City, Media in Dubai Production City, and Design in Dubai Design District (d3). The science vertical will expand its offerings to provide start-ups with sector-specific support and facilitate access to investment for founders to set up and scale new businesses. in5 has curated an expert-led advisory board representing industry-leading C-Suite figures from Nexus Resilience Group, Dii Desert Energy, and GMEX Group.On behalf of in5, Majed Al Suwaidi, Senior Vice President of Dubai Media City, part of TECOM Group said: “Entrepreneurship powers economic growth. Dubai’s pro-business framework has made it a preferred choice for businesses big and small, established and new. As a leading business enabler in Dubai, TECOM Group has strived to enrich the support and opportunities available to entrepreneurs through in5. Ten years on, we’re proud to see our incubator’s impact on promoting Dubai’s start-up ecosystem and economic diversification efforts across media, tech, and design. The new science vertical will expand our offerings to meet the needs of emerging economic opportunities in the science sector while securing Dubai’s reputation as a global business hub.”Marwan Abdulaziz Janahi, Senior Vice President of Dubai Science Park, part of TECOM Group said: “Science is a fast-growing field in Dubai, underpinned by government strategies across sustainability, healthcare, and R&D. Dubai Science Park plays a pivotal role in nurturing an ecosystem that promotes these economic roadmaps by empowering leading and international science-focused businesses to set up and expand operations. in5 Science will enable entrepreneurs to engage a world-class community of researchers and industry leaders and inject innovation and competitiveness to take the UAE’s science ambitions to the next level.”in5 Science will also present a curated calendar of networking events, panel discussions and educational forums to cover pertinent topics by thought leaders in the science industry. Collaborating with Dubai Science Park allows in5 to tap into a global ecosystem of MNEs and regional SMEs across pharmaceuticals, healthcare, energy and environment, research, and development for partnership opportunities, and access to specialised facilities.A growing science hub in MENARising government investments, a multifaceted economic diversification plan, and the growing regional demand for specialised healthcare and sustainable consumerism have directed focus to the UAE on science and technology. The UAE’s comprehensive healthcare system, strengthened by private sector investments, has secured Dubai’s status as the region’s number one and the world’s number six medical tourism destination, according to the latest Medical Tourism Index.Similarly, a global call for sustainability reflects national agendas for advanced manufacturing, economic growth, and food security. For example, Operation 300bn and Make it in the Emirates, geared at promoting localised manufacturing, emphasise innovation in advanced technology to enable sustainable practices and competitiveness.In the past decade, in5 has seen a marked growth in science-focused tech start-ups. A dedicated science vertical aims to streamline and customise the supportive ecosystem for new businesses while connecting founders to a global community and purpose-built infrastructure at Dubai Science Park.in5 already supports several ambitious science-led start-ups, including:We4Recycle: A mobile app-based door-to-door valet trash service that simplifies waste segregation at home and strives to increase the awareness of sustainable and environmentally conscious lifestyles.Greener Crop: A start-up enabling vertical farming in the Middle East and Africa by offering a range of services, from farm set-up and maintenance to growth management, harvesting, and produce sales. The start-up has customers across the US, UAE, Oman and Qatar.Air to MC2: A deep-tech start-up that aims to revolutionise cooling and heating by creating affordable, patented tech products for air conditioning, water and energy industries and consumers.Sentient Labs: The start-up employs advanced technologies such as robotics, artificial intelligence, and the Internet of Things (IoT) to promote sea clean-up.RelphaCare Technologies: A social healthcare tracking platform that enables real-time communication and monitoring by doctors and family.A decade of entrepreneurial growthin5 provides start-ups in technology, media, and design a platform to scale up, and access to advisory, mentorship, and potential investment opportunities. Since its inception in 2013, in5 has supported over 750 start-ups and entrepreneurs, and attracted founders representing more than 50 nationalities, including India, Russia, France, the UK and more. Breakout stars include buy-now-pay-later platform Tabby; Munch:On, a food operations service acquired by Careem in 2022; and regional music streaming giant Anghami.in5 is a start-up incubator part of TECOM Group’s portfolio, which also offers value-added platforms such as co-working spaces (D/Quarters), freelance packages (GoFreelance), and an integrated smart services platform (axs).TECOM Group’s portfolio also comprises 10 business districts, including Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Science Park, Dubai Knowledge Park, Dubai International Academic City, Dubai Design District (d3) and Dubai Industrial City.

Thriwe, an Indian start-up based in New Delhi, has revealed its plans to extend its presence in Saudi Arabia through a strategic collaboration with Al Mutlaq, a conglomerate that focuses on venture capital (VC) and private equity (PE) investments.As part of this partnership, Al Mutlaq has made an undisclosed investment in Thriwe to provide financial support for the company's launch and operations in the region. Thriwe aims to achieve approximately $100 million in revenue from the Saudi market within the next 36 months.Thriwe will utilize the newly acquired capital to enhance its loyalty and rewards ecosystem. Additionally, the company will allocate funds to enhance customer experience, devise regional operational strategies, and strengthen technological solutions within Saudi Arabia.Commenting on the joint venture with Al Mutlaq, Dhruv Verma, the Founder & CEO of Thriwe, stated: “We are pleased to partner with Thriwe as they expand their operations into Saudi Arabia. At Al Mutlaq Group, we believe in investing in innovative and disruptive companies that have the potential to transform industries. We see Thriwe as a valuable partner in the loyalty and rewards space, and we are excited to support their growth in the region. In addition, Their platform offers a unique solution that can benefit businesses of all sizes (from SME to Large Scale Industry), and we look forward to working with Thriwe to bring this solution to our clients and partners in Saudi Arabia." In response to this development, the CEO of Al Mutlaq Group said: "We have been doing reasonably well in Dubai and have been associated with various financial institutions like FAB, Mashreq, RakBank, ENBD, etc, running as managing loyalty programs for them as well. Our goal is to empower businesses in Saudi Arabia with a user-friendly and customizable platform that will enable them to build stronger relationships with their customers by driving loyalty and retention. We are excited to partner with Al Mutlaq Group, a leading conglomerate in the region, and we look forward to a long and successful partnership."Photo credits: Unsplash In collaboration with Allison Saeng

Dubai: Vivium Holding, a progressive single-family office headquartered in Dubai, has announced its partnership with MEVP (Middle East Venture Partners), a leading venture capital asset manager in the MENA region, as Cornerstone Partner. The collaboration marks an important milestone in expanding both companies’ investments horizons, fostering growth and innovation in the region's entrepreneurial ecosystem.MEVP has been at the forefront of venture capital investing in the MENA region for more than a decade with a strong record of successful investments in technology start-ups across various sectors. Vivium Holding’s mission to invest in talent, ideas and build brands to leave a meaningful generational impact establishes powerful synergies that strengthen the collaboration. By joining forces with MEVP as Cornerstone Partner, Vivium aims to leverage its expertise and resources to identify and support the most promising technology start-ups in MENA.Vivium Holding is focused on building purposeful value creation for investors, stakeholders, and businesses in the MENA region through its diversified investment portfolio in the areas of luxury residential and hospitality, technology, and passion investments such as art and design.MEVP currently manages four regional technology-focused venture capital funds with more than USD 300 million in assets under management and USD 1.6 billion in co-investments. MEVP has successfully backed more than 60 start-ups across MENA including industry leaders such as Anghami, the Nasdaq-listed MENA leader in music streaming and digital entertainment, digital payment infrastructure provider HyperPay, and Fresha, one of the top global digital marketplaces for beauty and wellness services.The partnership is established as MEVP launches its fourth flagship MENA VC fund – the Middle East Venture Fund IV (MEVF IV) – with a target size of USD 150 million. MEVF IV’s will focus on investing in innovative early-stage and growth-stage technology companies and supporting their growth into MENA market leaders.“We are pleased to join MEVP in this strategic partnership that underscores our commitment to support the growth of innovative start-ups in MENA.” said Elie Khouri, Founder and CEO of Vivium Holding. “Together, we will accelerate the development of the region’s thriving VC ecosystem, empowering start-ups to grow into mainstream regional and global champions and to create long-term sustainable businesses.”Walid Hanna, Chairman and co-CEO of MEVP, added: “My MEVP Partners and I are thrilled to have Vivium Holding join us as Cornerstone Partner. Vivium Holding’s strong focus on technology investments and their global perspective on innovation will complement MEVP’s existing capabilities, allowing us to together create even more value to both our portfolios and to the wider entrepreneurship community in the MENA region.”Vivium Holding's appointment as Cornerstone Partner with MEVP is timely; the MENA region continues to witness a surge in entrepreneurial activity, with startups disrupting traditional industries and driving digital transformation. The collaboration between Vivium Holding and MEVP is poised to drive economic growth, job creation, and technological advancements across the MENA region.Image by Gerd Altmann from Pixabay

Dubai: Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has successfully concluded a roadshow to Hong Kong, the Philippines, South Korea, Malaysia, Singapore, and Japan to scout for startups to participate in the Expand North Star event in Dubai.During the roadshow, the Chamber introduced 481 startups to doing business in Dubai and highlighted the role it plays in providing support to businesses within the ecosystem. In addition, the Chamber hosted a pitch competition designed to drive participation in Expand North Star. The winner will receive a fully sponsored visit and participation in the upcoming event.As part of the Asian tour, Dubai Chamber of Digital Economy also held a total of 17 private meetings with MNCs, unicorns, and incubators to explore potential collaborations within each market.Expand North Star is the largest start-up event in the world, uniting more than 1,400 exhibitors and 1,000 investors at Dubai Harbour from 15 – 18 October 2023. The event aims to ramp up the start-up entrepreneurship momentum, transcending geographic industries and intellectual boundaries as it connects government partners, investors, and corporate accelerators with innovators and tech stars from every continent.Dubai is embracing Web3 and the metaverse as part of efforts to drive the UAE’s digital economy forward, as well as fully integrating blockchain and AI technology across the public sector and investing in fintech and digital assets. Dubai Chamber of Digital Economy is working to accelerate the growth of Dubai’s digital economy and attract promising digital businesses to the emirate.Expand North Star will bring together startups from across the globe to connect with industry leaders, government officials, venture capitalists, and other potential investors. The event also supports the tech community by hosting forums and initiatives that bring together international and local tech companies, entrepreneurs, investors, and other key stakeholders.Expand North Star plays a critical role in attracting and connecting the global tech community to Dubai by providing a supportive platform for innovation and collaboration. The event will feature a series of summits, innovation challenges, conferences, and exhibitions showcasing the latest technological advances. The initiative provides opportunities for networking and collaboration while further cementing Dubai’s position as a leading hub for innovation and technology, as well as driving economic growth and development both in the emirate and globally.