The startup sector across the Middle East is currently the rise, with the sector recovering from Covid-19 slowdown
startup investment
fintech
Why did investments into MENA fintechs boom in 2021?
In the first of a three-part series, Tammer Qaddumi, the founding partner of VentureSouq, explores the dramatic growth of regional fintech firms in 2021
Abu Dhabi
UAE-based venture builders merge startup portfolios to mark a first of its kind deal in the Middle East
The partnership, operating under the new name hatch & boost Ventures, will see the acceleration and growth of seven portfolio start-ups this year, which span across agritech, sustainable mobility, femtech, foodtech, fintech, among other sectors
MENA startups
Revealed: 10 initiatives that help UAE startup owners with funding, long-term visas, and talent acquisition
Looking for more information on the region’s startup scene, including funding and venture capital opportunities? Here are 10 startup initiatives you need to learn more about.
Dubai
Dubai Crown Prince establishes Hatta Traders Council to support young entrepreneurs
The Hatta Traders Council will be the first of a series of initiatives that will be launched to support the ideas of Emirati youth and ensure the growth and success of their businesses
Dubai
Empowered entrepreneurs can build better businesses as Golden Visa allows long-term financial planning
The Golden Visa clearly shows how progressive the UAE is when it comes to supporting the entrepreneurial ecosystem, an expert said
Entrepreneurs
Explained: How startup owners and entrepreneurs can obtain a UAE Golden Visa under the new rules
The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has set flexible requirements for entrepreneurs and startup owners to apply for the UAE Golden Visa under a new set of executive regulations
corporate venture studios
Dubai’s DIFC launches platform set to create 200 ventures, 8,000+ jobs within five years
DIFC has launched the world’s first venture studio platform that will be exclusively focused on digital asset technologies and “ubiquitous finance”
Abdulaziz Al Jaziri
Dubai Future Foundation, Richemont launch initiative to spur start-up solutions in the luxury retail sector
The DFF-Richemont initiative aims to redesign the luxury customer experience and help Richemont utilise modern technologies to analyse data, study customer behaviour and engagement
Cartlow
Saudi Arabia Ministry issues new start-up licenses to drive investments worth $162 million into the kingdom
Saudi Arabia’s Ministry of Investment says licenses are evidence of the kingdom’s burgeoning start-up and venture capital ecosystem
Abraham Accords
Synaptech Capital is pairing up with ADGM to reskill UAE labour force
The academy will focus on skills that will be in-demand as job functions change as technology continues to evolve
Abu Dhabi
Hub71 witnesses $8.16mn in investments for Abu Dhabi startups in 2021 with over 20 corporate deals
The aggregate valuation of Hub71 startups soared to $1.59 billion (AED 5.87 billion), with close to 1,000 jobs created since its inception in 2019
Bedaya Fund II
Venture Capital firm Shorooq Partners launches $150 million seed stage fund for fintech, software, and digital asset startups
Shorooq Partners is doubling down on the earliest stages of the startup founders’ journey in alignment with the fundamental principles of acting as founders’ partners, company builders, and value investors.
startup
Procurified: What I wished I knew starting a business
I am lucky to have mentors and the right people around me to provide guidance and support, but nothing can prepare you for the obstacles and challenges surrounding setting up a business in a new country
Rupert Tait
Nothing ventured, nothing gained
Every founder dreams of their idea becoming the next Tesla, Amazon or Apple, writes Procurified’s Rupert Tait. But with more startups failing than succeeding, are founders that don’t understand how to scale at fault, or are unrealistic investor expectations driving businesses to the brink
GlobalData
Early stage funding rounds attracted the most VC cash in 2021
In a positive indicator for new startups, a total of 6,448 seed and 5,769 series A financing rounds were announced throughout the year, new data revealed
business funding
Egyptian proptech Nawy closes $5m seed fund
Employing 200 people, Nawy is an online real estate platform that facilitates purchasing and selling property that has sold over $200 million worth of properties