https://adgully.me/post/2611/hub71-and-wio-bank-join-forces-to-enhance-banking-for-tech-startups

Hub71 and WIO Bank join forces to enhance banking for tech startups

Hub71, Abu Dhabi’s global tech ecosystem, and Wio Bank PJSC, the region’s first platform bank, have launched a strategic partnership to transform the banking experience for startup founders in the capital. Designed to enhance bank account processes for SMEs, Wio becomes the official banking partner of Hub71, enabling startup founders to benefit from expert mentorship and commercialisation opportunities that foster innovative new products and services in Abu Dhabi.By streamlining the banking process, Hub71 and Wio are making it easier for startups in Abu Dhabi to access funding and essential banking products that support the growth and development of early-stage innovative tech businesses.Wio Bank was set up with the core mission of contributing to the future readiness of the SME segment in the UAE. As an official banking partner, Wio will streamline the bank account opening process when startups join Hub71. The digital bank will also participate in Hub71 events and initiatives that align with its growth strategy.Ahmad Ali Alwan, Deputy CEO of Hub71, said: “Our partnership with Wio Bank further solidifies our commitment to making Abu Dhabi an attractive destination for startups to do business. By collaborating with an Abu Dhabi based digital platform that is leading the future of business banking, we are opening the door to robust banking and commercial opportunities for our startup community. This partnership is a prime example of a powerful combination within Abu Dhabi’s tech ecosystem that fosters startup growth in the UAE’s capital.”Jamal Al Awadhi, Chief Operating and Experience Officer, Wio, commented: "We are thrilled to announce our partnership as the first official banking partner of Hub71, and embark on a shared mission to empower startups in the region. We recognise the significant impact made by the global startup community and firmly believe that by simplifying access to funding and essential banking products, we have a unique opportunity to nurture their growth and facilitate their paths to new achievements. Through our collaboration with Hub71, we are committed to delivering meaningful banking solutions that truly make a difference, enabling startup owners to thrive and succeed on their entrepreneurial journey."Hub71 startups will also have access to Wio’s network of subject matter experts to receive mentorship and strategic advice to support business growth and development. With access to expert guidance and insights, founders can better navigate unique challenges, make more informed decisions, and unlock new opportunities for the economic growth of Abu Dhabi. 
https://adgully.me/post/2016/how-women-led-tech-startups-drive-innovations

How women-led tech startups drive innovations

Dubai: The tech industry has traditionally been male-dominated, but women entrepreneurs are making significant strides and changing the game with fresh perspectives and innovative ideas. Women-led tech startups are driving change and creating a more diverse and inclusive industry.A Citigroup report published in 2022 revealed that increasing female representation in the tech industry could add $2 trillion to global GDP. This highlights the importance of creating more opportunities and providing support for women to pursue careers in this field. It is evident that there is a need for increased initiatives aimed at encouraging and empowering women to take on roles in tech.Women entrepreneurs bring unique strengths to the tech industry, including empathy, collaboration, and creativity. They are breaking down barriers and paving the way for future generations of women in tech.However, data from the PitchBook Platform reveals that in 2022, companies founded exclusively by women received only 2.1% of the total capital invested in venture-backed startups in the US, emphasizing the persistent gender disparity that exists in the venture capital industry. This highlights the need for greater investment in female-led startups.Realiste, an AI-powered proptech company based in Dubai, is proud to have a significant number of women in leadership roles, including Anastasia Denisova, the CEO of Realiste in the MENA region. Under Anastasia's leadership, the company has integrated with 27 real estate developers, attracted more than 50,000 users, and achieved impressive growth. This demonstrates the valuable perspective and expertise that women bring to leadership roles in the tech industry.A report by the Dubai Future Foundation shows that women now make up 45% of the UAE's startup workforce, a significant increase from previous years, indicating a growing trend towards greater gender diversity in the startup industry in the MENA region."Women entrepreneurs bring a unique perspective to leadership in tech that can lead to better innovation and problem-solving," said Anastasia Denisova, CEO of Realiste MENA. "At Realiste, we are committed to promoting inclusivity in all aspects of our operations, and we are proud to see the trend of women's rising role in tech entrepreneurship in MENA."It is clear that there is a need for greater support for women entrepreneurs in the tech industry, such as extending support services, promoting training opportunities that foster growth and development, facilitating access to capital for women business owners, and promoting a female entrepreneurial culture. By providing these resources and opportunities, we can help create a more inclusive and equitable industry that benefits not only women entrepreneurs but also the tech industry and the economy as a whole. It is time to take action and work towards creating a brighter and more diverse future for women in tech entrepreneurship.
https://adgully.me/post/1959/4th-saia-is-shaking-up-uaes-vc-landscape

4th SAIA is shaking up UAE’s VC landscape

Dubai: The 4th Edition Sharjah Advanced Industry Accelerator (SAIA) is creating waves in the UAE’s venture capital (VC) landscape. This is reflected in the phenomenal figure of 3,536 applications it received from over 40 countries in just two months.The highest number of applications was from India, Pakistan, United Arab Emirates, Brazil, Saudi Arabia, Egypt, Mexico, United Kingdom and France. Interestingly, there has been a significant increase in interest from women-led startups compared to last year. Another unique aspect is that there has been a rise in applications from sustainable tech startups.Mr. Hussain Al Mahmoudi, CEO of SRTIP, said: “We are thrilled by the unprecedented response to our Accelerator program from startups from different parts of the world. This is a reflection of the growing importance of the MENA region, and high ranking of the UAE when it comes to funding of startups due to progressive economic policies and supportive innovation ecosystems.“At SRTIP we are happy to play the role of providing the right environment and framework for startups to grow and scale. The SAIA program, now in its fourth year, is proud of the pivotal role it is playing in nurturing startups.”The unique Acceleration program will run from September to Nov 2023, closing with an Investor & Demo Day on Nov 27, running up to COP28 in Dubai, where some of the cohort startups will be able to showcase their innovations and leverage the many opportunities that COP presents. The final day for submitting applications is May 23.The strong response to SAIA 2023 comes at a time when the region is witnessing unprecedented flow of venture capital, promising a thriving future for startups.Total financing from venture capital funds in the Middle East surged 132 per cent to almost $2 billion last year, with the total number of deals up 5 per cent to 410, according to Magnitt.Startups in the MENA region raised $3.94 billion in 2022 across 795 deals, a rise of 24 per cent in investment value when compared to 2021. The UAE stood on top, fetching the most investments to the tune of $1.85 billion across 250 deals, a rise of 5 per cent in terms of investment value, the Magnitt report revealed.The UAE aims to become home to 20 unicorns – startups worth above $1 billion each -- by 2031, in its push to become a regional centre for innovation and entrepreneurship. Last year, the country launched the Entrepreneurial Nation initiative, which aims to offer support through a series of public-private partnerships that help entrepreneurs to set up operations in the Emirates, expand their businesses, export products and tap into online sales.Hosted by the Sharjah Research Technology and Innovation Park (SRTIP), SAIA presents startups and innovative companies a gateway to funds, networking, expertise, resources, projects and a thriving ecosystem conducive to innovation.