Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Bringing in
An eye for the business
Leveraging the
success law of attraction
to win new
Muse Capital clients for your
co-founder Assia enterprise
Grazioli-Venier
What it takes to be an
angel investor (that
entrepreneurs would want
to have on board their
enterprises)
Driven by passion
P.N.C. Menon
The founder and Chairman of Sobha Group on his “unending pursuit
of excellence” as an entrepreneur
20
PNC Menon,
founder and Chairman,
Sobha Group
20 26 30 72
INNOVATOR: INNOVATOR: ‘TREPONOMICS: START IT UP:
Driven by passion An eye for success PRO Q&A
PNC Menon Assia Grazioli Venier Understanding the Middle Inspiring loyalty
The founder and The co-founder of Muse Capital East’s skills gap Alborz Toofani, founder and
Chairman of Sobha Group on what it takes to be an angel Market trends are CEO of Snappcard, looks
on his “unending pursuit investor (that entrepreneurs reprioritizing valuable back at his entrepreneurial
of excellence” as an would want to have on board skills, and in some cases, journey over the past five
entrepreneur. their enterprises). demanding completely years.
new competencies, writes
Bayt.com’s VP of Employer 82
Solutions, Suhail Al-Masri. ‘TREPONOMICS:
PRO
70 Innovation starts at home
MONEY: Salman Dawood Abdulla,
VC VIEWPOINT Executive Vice President,
Envisioning potential EHSSQ and Business
Enabling Future’s managing Transformation at Emirates
partners Saad Umerani Global Aluminium
and Hubertus Thonhauser (EGA), makes the case
explain the Dubai-based VC for empowering one’s
firm’s investment approach employees to drive
and considerations. innovation.
34 42
TECH: TECH:
THE FIX SHINY
Blockchain: [much] more #TamTalksTech
than a buzzword Gadgets and doodads
Ian Dillon, co-founder, Now that you might’ve missed
Money, explores how the out on, sourced by a tech
fintech innovation can make aficionado. Yes, it’s okay
a positive impact on global to want them all… and no,
issues. it’s not our fault.
44 42 Huwaei Honor 9
CULTURE:
TRAPPINGS
50 Educators have key roles to play in nurturing their students’
entrepreneurial spirit ‘Trep gear
The executive selection for
the entrepreneur on your
78 50 list that has everything.
START IT UP: CULTURE: Okay, maybe for a little self-
Q&A LIFE reward as well.
Conquering the globe Fueling the future
Dubai-based startup Tanvir Haque, founder, 46
Shedul’s software for the Freshstone Consulting, ‘TREPONOMICS:
beauty industry has been explores ways in which ESQUIRE GUY
adopted by over 40,000 educators can identify Happy endings
merchants in more than 120 innate entrepreneurial skills The Esquire Guy walks you
countries- in a span of just in children at a crucial age, through the best way to
two years. and support their growth. wrap up a business meeting.
78
William Zeqiri,
co-founder and
CEO, Shedul
66 48
START IT UP: CULTURE:
ECOSYSTEM LIFE
Reimagining Iraq Constraints make you better
Things are moving in the James Clear on why the right
right direction for the limitations help in boosting
country’s entrepreneurial performance.
ecosystem, notes Marwan
Ahmed, Director, Mishwar,
a grocery delivery startup in 44
Hublot
Baghdad. Classic Fusion
Chronograph
16 Berluti
56 38 EDITOR’S NOTE
‘TREPONOMICS: TECH: By Aby Sam Thomas
SKILLSET ONLINE ‘TREP
Building your personal Usability first 60
infrastructure Clinton O’Leary, Chief CULTURE:
Business coach Murtaza Commercial Officer of BUSINESS UNUSUAL
Manji offers five Yvolv, says it’s key to Gifting done right
suggestions to help you pay attention to the user UAE startup joi wants to
achieve excellence- be it experience aspect of your become the go-to portal for
personal or professional. tech product. all things gifts.
72
Snappcard’s Emre
Kistak, Managing
Partner UAE, Alborz
Toofani, founder and
CEO, and Onur Witt,
Creative Director
Images used in Entrepreneur Middle East are credited when necessary. Attributed use of Printed by Raidy Emirates Printing Group LLC
copyrighted images with permission. All images not credited otherwise Shutterstock. www.raidy.com
Time is money
Are you burning through a modern currency?
A
s someone who often one, that’d help me see if we can
feels there aren’t enough get things done over email itself (or
hours in the day to fin- maybe a call), and if not, we’d now
ish all of the tasks on my be clear about the main points of
plate, I am always be- discussion when we do meet with
fuddled by those who seem to have each other- surely, that’d be a bet-
time to spare for meetings with ter use of time, be it yours or mine!
me on a work day, with the agenda One important note here though:
primarily being “just to catch up.” if you are going to set an agenda for
In the modern economy, time re- a meeting, make sure it is specific
ally is money. How are you spend- and to the point. For instance, time- and you sure as heck cannot
ing it? Is there an ROI? requesting me for a meeting “to ex- expect anyone else to set aside
“Catch up” requests, especially plore collaboration opportunities” their time for you for no reason.
when they come from entrepre- doesn’t mean anything to me- I’d Keep it real, people.
neurs, often set off warning bells in much rather have you do some re-
my head. If your aim with a meet- search of your own, and then come
ing is to apparently only exchange to me with potential action items
pleasantries with me, rest assured that could work for the both of us.
that I am already skeptical about For one, this shows me that you
you and your intentions, and I defi- have seriously looked through
nitely do not appreciate the seem- our work, and found out ways to
ing disregard for my time as well. perhaps add value to what we do,
Sure, there may be something you while satisfying your own priori-
actually want to discuss in person ties- a win-win situation, if you
with me- but if that is indeed the will, and that is often enough for Aby Sam Thomas
case, wouldn’t it be better if you me to want to invest my time with Editor in Chief
simply laid that out in your first you. As entrepreneurs, you don’t @thisisaby
email requesting the meetup? For have the luxury of wasting your aby@bncpublishing.net
Building a community
Palestine early-stage VC firm Ibtikar Fund raises
US$2.5 million from regional and global investors
F
inancial support, espe- agree with our current investors
cially in the early stages in the potential of Palestinian
of a business lifecycle is a startups and welcome them to
missing link most startups in our fund,” he added.
Palestine (and perhaps in many As per Ibtikar Fund’s invest-
parts of the Middle East) suffer ment strategy, laid down on
from. Helping make things its website, the firm supports
better for Palestine’s entrepre- companies in two stages- seed
neurs in this regard is Ibtikar and early-stage, and is looking
Fund, an early-stage venture to “invest in highly-skilled and Ahmed El Alfi, founder, Flat6Labs, H.E. Dr. Sahar Nasr, Minister of Investment and International
capital fund with a mission to complementary management Cooperation, and other officials at the MIIC signing event
“close a critical funding gap teams that are willing to take
between acceleration and VC, risks and go out of their com-
and other later-stage investors” fort zones.” At the seed level, Enabling Egypt’s
for Palestine startups. And now
the VC firm has got a boost
the Fund looks for entrepre-
neurs through local accelera-
ecosystem
in achieving this objective, as tors, and it also remains open Flat6Labs Cairo announces first close of
it has announced raising an to make Series A investments its EGP100 million fund
investment of US$2.5 million in its portfolio companies. Man-
E
in July 2017 from the Interna- aged by Hazzan and Ambar arly-stage startups in Egypt, joining the accelerator (250,000
tional Finance Corporation (IFC), Amleh, the Fund benefits from the time is ripe to get your in cash, and 250,000 non-cash
the Dutch Good Growth Fund the involvement of some of the pitch decks ready, and pre- investment), and up to EGP1
(DGGF), and Reach Holding (a country’s renowned business sent your venture to Flat6Labs million per startup in follow-up
Middle East-based global entity executives- its board is chaired Cairo. The accelerator program investment, allowing Egyptian
headquartered in Palestine) as by Hashim Shawa, Chairman has announced the first close of startups to reach their customer
investors. With this raise, Ibtikar and General Manager of the its EGP100 million Cairo fund base and scale their operations
increases its capital to $10.45 Bank of Palestine (the fund’s called Flat6Labs Accelerator locally and regionally,” says Wil-
million, giving it the ability anchor investor), and includes Company, which, according to lie Elamien, Managing Director,
to invest in more Palestinian Zahi Khouri, Chairman and CEO, Flat6Labs, will help them “di- Flat6Labs Cairo. While MIIC says
startups. National Beverage Company. rectly support over 100 Egyptian it aims to support entrepreneurs
“We look for ideas and start- While this marks the first in- early stage-startups over the develop their skills by provid-
ups that are scalable, and which vestment in Palestinian venture upcoming five years” with seed ing a conducive environment for
serve the MENA region or glob- capital and in MENA region funding of up to EGP1 million per growing their business, EAEF, on
al need,” declares the website of overall by DGGF, this is IFC’s startup, training, mentorship and its part, has said that it identi-
Ibtikar (meaning innovation in first investment in Palestine’s a host of other services. This in fied a shortage of seed capital in
Arabic), which launched in May ecosystem and the second turn will help create “more than Egypt, and decided to align with
2016, and has made 14 invest- under its new Startup Catalyst 1,000 high-impact jobs” in the Flat6Labs to help address the
ments in Palestinian startups so initiative (the first was its Egyptian market, says Flat6Labs. gap.
far, and growing. “These new support to Flat6Labs Cairo in The close of this round is As an early-stage startup
investments are a validation Egypt). “We believe Ibtikar can supported by commitments accelerator, Flat6labs supports
of our work over the last two play a pivotal role in strength- from Egypt Ventures- a com- startups at “idea, concept or
years, and a vote of confidence ening the area’s entrepreneurial pany of the Egyptian Ministry prototype or early-revenue gen-
in our management,” Habib ecosystem, creating jobs, and of Investment and International eration stages” and Elamien says
Hazzan, Managing General attracting more investment,” Cooperation (MIIC) managed “they are sector agnostic, [but]
Partner, Ibtikar, said in a state- Mouayed Makhlouf, IFC’s by NI Capital, and the Egyptian- are particularly interested in
ment. “We are glad that the Regional Director in the MENA American Enterprise Fund [supporting] education, health-
IFC, DGGF and Reach Holding region, said in a statement. (EAEF) with each party pooling care, fintech, digital content,
in EGP10 million each. With consumer internet and ICT start-
this financial injection, Egypt ups.” Flat6Labs Cairo’s ninth
Ventures and EAEF join the In- accelerator cycle is scheduled
ternational Finance Corporation to start later this summer, and
[that invested EGP50 million in according to the organization,
www.ibtikarfund.com | flat6labs
“This is my playing
ground- it’s not
work! I get maximum
enjoyment from this…
It is [my] passion.
It’s not business;
it’s a very personal
thing.”
P. N. C. Menon, founder and Chairman,
Sobha Group
Driven by
passion
Sobha Group founder and Chairman P. N. C. Menon
P
By Aby Sam Thomas
Given that response, it’s easy to see “Diversify, get into something else. Move into
where Sobha Group got its “Passion At
Work” motto from- Menon certainly another geography… The growth is never-
seems to live by that principle, and ending. Even for the biggest companies in the
his company is following his lead in
terms of what he calls “an unending
world, I’d say that there is a tremendous
pursuit of excellence.” With operations amount of opportunities for them to grow
in India and the Middle East, Sobha further. Sometimes it may not be in the same
has, since its inception, delivered over
89.64 million square feet of real estate domain- you just have to take a diversion.”
projects, and is currently at work on
71 projects with a developable area of expertise (Menon notes the company’s third largest real estate development
101 million square feet. In India, where capabilities as a backward integrated company, in terms of total square feet
Sobha Limited is a listed entity, it was institution as being one of its main dif- delivered. In the meantime, Sobha
recently declared by the 2016-17 Brand ferentiators), as well as the uncompro- also made its entry into the UAE’s real
X Report to be “the top national realty mising quality of its products, will help estate scene in 2003, with the Dubai-
brand across asset class” for the third it become a market leader in this par- headquartered company focusing pri-
consecutive year. In contrast to that, ticular space. Of course, Menon’s track marily on residential and commercial
Sobha is a relatively new entrant in record so far does tip the odds in his projects. Menon has nothing but good
the UAE’s real estate space, but the favor- after all, Menon’s now legendary words to say about doing business in
developer has still managed to garner success story began with the Indian Dubai- he’s an unabashed admirer of
quite a lot of attention and interest for entrepreneur arriving in Oman with the growth the Emirate has seen so far,
its current projects, which include the only seven dollars to call his own in and he is definitely on board to partici-
US$4 billion Sobha Hartland and the 1976. With borrowed capital, he set up pate in its continued development in
$8 billion Meydan Sobha District One a small business that dealt in furniture the years to come. “It is one of the best
developments in Dubai. With regard and interiors on the streets of Muscat, places to do business,” Menon declares.
to the current state of the real estate and this outfit grew slowly (but surely) “You are not disturbed in any way; you
market, Menon notes that while there into an enterprise that became known just do whatever you want to do to be
may have been challenging times in the for its quality of work. As time passed, the best. Every opportunity is provided
past year, he’s expecting an uptick in the company began securing a number by the environment and the country.”
activity in 2017. “The real estate busi- of noteworthy interiors contracts, At this point, it’s pretty easy to see
ness is cyclical, the world over; it’s not including projects from the Sultan’s that Menon has accomplished a lot –a
only Dubai,” he explains. “According to office, which led to its next phase of lot- over the course of his entrepre-
me, this year, we have gone into a posi- growth. As the business solidified its neurial career. But what’s particularly
tive cycle.” presence in the Gulf, Menon then made interesting to note about his journey
This, of course, bodes well for Sobha a move into India’s property sector so far is that when Menon reaches a
as an enterprise in the UAE’s real estate by setting up Sobha Limited in 1995, particular stage of success, he then
sector, where it hopes its finesse and which has since become the country’s goes and raises the bar for himself, by
setting new goals to aspire toward. It’s
a curious little trait- but it also makes
it clear that Menon, as an entrepreneur,
is never complacent. “You are born
with that kind of outlook, you know,”
he says. “You are never happy with
what you do- there’s always a feeling
that there’s a gap. And when you fill
that gap, there’s another gap- so it’s
an unending pursuit of excellence. I
don’t think you can go to market and
start developing that quality- it’s in the
DNA of a person, who looks for that
perfection.” As the saying goes, noth-
ing succeeds like success, and Menon
believes in that wholeheartedly- ac-
cording to him, there is no finish line to
the growth one can aspire to for their
enterprise. “As a businessperson, you
cannot [ever] say that you’ve reached
the peak of whatever you wanted to
A Sobha Group residential project achieve,” he says. “You cannot say that
there is no further scope for tation, among some of his “You’ve got to be extremely patient.
you to grow. Diversify, get staff at least, as he himself
into something else. Move put it, of being “a terror.”
You’ve to be extremely careful with
into another geography… Sobha Group President your name and reputation- build that,
The growth is never-ending. Jyotsna Hegde tells me that create a strong foundation, and then
Even for the biggest com- there were times not too long success is automatic. But if you’re going
panies in the world, I’d say ago when Menon would lose
that there is a tremendous his cool at subordinates who,
to be in a hurry, you’ll have a weak
amount of opportunities for say, had made a mistake, foundation, and you will collapse.”
them to grow further. Some- or hadn’t ascribed to the
times it may not be in the same level of perfection he that feeling. “When you Once you understand that,
same domain- you just have believed in. But Hegde notes look at it from his side, it then you see the value of
to take a diversion.” that such temper flare-ups was frustration,” Hegde everything you thought was
Menon’s refusal to budge were simply a reflection explains. “Because he gets difficult, and you become
from the high standards he of Menon’s passion for his it so quickly, and he knows accepting.” However, this
has set for the company has work- he just couldn’t see it so quickly- and he is frus- matter is no longer a topic of
also led him to have a repu- why others didn’t share trated that you don’t get it… discussion at Sobha, Hegde >>>
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By Tamara Pupic
nology investment company
here is a list when it comes to assessing sist disruption, but embrace whose portfolio includes Spo-
of character an angel’s belief in the less the change,” she says, in her tify, iZettle, MarketInvoice,
traits that experienced, how high would talk. As Grazioli-Venier sees Outfittery, Trustpilot, Fyndiq
entrepreneurs you rate someone who sees it, achieving the impossible and Qapital. Furthermore,
look for (or “no” as “on” as being one of and never taking no for an since 2012, Grazioli-Venier
should look their strengths? This may answer is part of her daily has been on the board of
for) in an be an everyday battle for agenda- and in today’s entre- Italy’s Juventus Football
angel investor, with putting someone with dyslexia, like preneurial age, that is a skill Club, being the first female
a signature on the back of Assia Grazioli-Venier, but definitely worth having. and youngest board member
a check or on the bottom this Los Angeles-based media “The best advice I can give to serve in such a role in
of contracts being just one executive, angel investor and an entrepreneur is to go with the club’s history. With this
of them. Various accounts, advisor to high-growth tech conviction, surround yourself professional background,
including those often featured startups and investors has with the smartest people Ivy League education, and
in our magazine, favor pos- found value in what many (smarter than you), and be an obviously undefeatable
sessing industry expertise, may consider a hindrance. firm but flexible with your personality, she stepped
facilitating introductions Speaking at a TEDxLUISS idea,” she says. “Most of the into a new role in 2016 by
to their broad networks of edition in her native Rome most successful businesses co-founding Muse Capital,
contacts, following a code of last year, she shared her ex- today had naysayers, and in an early-stage strategic
conduct (this seems to have perience with dyslexia as one fact, some could say that the angel investment fund that
risen in importance only example of how she learnt to more naysayers you have, focuses on consumer-facing
recently), and the list -by no endorse disruption from an the better the idea could be.” entrepreneurs and technolo-
means exhaustive- goes on. early age. “Life has already One example, she notes, is gies. Network and experience,
There are different degrees taught me how to anticipate Sweden’s music streaming she says, are something that
of all of those as well. But the unexpected, and not re- company Spotify, which is most young entrepreneurs
reportedly valued at US$13 don’t have, but both are vital
billion, where she has served to a fledgling startup. For
as its Director of Special that reason, Grazioli-Venier
Projects for over six years. explains that a good angel
“When I started advising the investor needs to have the
founder, Daniel Ek, and the power, experience, and influ-
business, Spotify had under ence to help an entrepreneur
100 employees, and although bring his or her vision to
they had a proven business life. “A great example of this
model in their local Sweden, is our role as investors and
everyone was telling them advisors to our portfolio
they were crazy,” Grazioli- company, ReplyYes,” she
images courtesy muse capital
Understanding
entrepreneur.
As a result, these market trends are
reprioritizing valuable skills, and in
some cases, demanding completely new
skills gap
transferrable. According to employers,
the top three most important skills
for mid-career or junior positions are
Skills gap is the difference between teamwork (83% of employers said it
the skills required on the job and the is very important), time management
actual skills that the job seeker (or (80% said it is very important) and
Market trends are reprioritizing employee) possesses. As a matter of written communication (76% said it is
valuable skills, and in some cases, fact, 65% of business leaders and very important).
59% of job seekers who participated in Job seekers also agree; 84% of them
demanding completely new the Bayt.com 2017 Middle East Skills said that teamwork is a very important
competencies By Suhail Al-Masri Report believe there is a skills gap in skill, 83% said time management is
U
the market. very important, and 79% said written
nemployment is one of the For a starting place, think about the communication is very important.
biggest challenges that the technological acceleration, and how It is positive to note the fact that
Middle East faces, and has it is impacting the type of skills that employers and junior job seekers agree
faced for quite some time. In are in demand. The number of people on the most critical skills. From a job
this very youthful part of the who are online as well as the amount seeker’s perspective, knowing what
world, competition for jobs creates an of data they are generating is growing employers expect from you and being
overwhelming amount of pressure on exponentially. The development of vir- right about it can only help one focus
job seekers and on companies alike. tual and augmented reality as well as on developing those particular skills
Job seekers now have to go several the Internet of Things (IoT) is opening and land a job faster.
extra miles to stand out from the large
applicant pool. Businesses and organi-
zations are often bombarded by the
Most critical skills for junior positions
volume of applications and are chal-
lenged to narrow down the prospects
and make the most confident hiring 47 Employers
Creative thinking 59
decision. Global mindset 44
Employees
50
Even startups that are just begin-
Design / visual thinking 43
ning to dip their toes in the water can 53
easily receive hundreds of applica- Time management 41
78
tions, emails, and pleading letters for 40
Logical / critical thinking
the handful of positions they offer at 59
40
a time. Entrepreneurship 49
But there is another big elephant in People management 39
73
the room that we must confront, and 38
Team work
it is known as the skills gap. No, this 87
34
is not just a buzzword that is thrown Written communication 76
around in research conferences and Emotional intelligence 34
66
thought leaders’ Twitter feeds. This is 31
Job-specific skills
a serious issue that affects everybody 60
29
in the marketplace– employers and job Technology and computer skills 66
www.bayt.com
seekers alike.
VZAE
8923
T&Cs apply
TECH SHINY | WEBSITE TO WATCH | GEEK | MOBILE TECH | ONLINE ‘TREP | THE FIX
Blockchain
[much] more
than a buzzword
By Ian Dillon
pose– Play-Doh was origi- ment being passed from one risk to banks is almost elimi- of India, foreign remittances
nally a (mediocre) wallpaper party to the next. It’s easy to nated, reducing their costs– received make up 3.3% of
cleaner before being adopted see how this takes so long. and these cost reductions their US$1.9 trillion GDP.
as one of the most successful Each bank takes its time to should (in theory) be passed Remittances to the develop-
toys of all time. process the transaction and onto consumers. Transac- ing world total half a trillion >>>
dollars annually, and are the most. Blockchain, in the lives of the unbanked? Why not only a major advantage
worth three times more than example of remittances, has is fintech so important to to the customer, but also to
the global aid budget. These the capability to dramatically solving the global issue of the bank or other institution
remittances often support reduce costs and time taken financial inclusion? And why processing information– as
the poorest or most needy of for the recipient families to will fintech do this, when they can now do so far more
the population. The average receive the money. This will nothing else before it has? quickly and efficiently. In
NOW Money customer in have a direct and positive After all, banking has –in this sense, blockchain is no
the UAE sends 65% of their impact on the populations some form or another– been different to almost all other
earnings back to their fami- that need it most. around since before the fintech innovations. They all
lies, predominantly in India, Ancient Greek and Roman focus on improving the cus-
Pakistan, Bangladesh and Fintech as a power periods. The first banking tomer experience, efficiency
the Philippines, and each for good systems were founded to for the financial institution,
worker’s monthly remittance It is heartening to see wide- facilitate trade in the MENA and often both. Modern
supports 5-10 family mem- spread and growing support region, however, today, 86% fintech innovations (such as
bers in their home country; for fintech companies and of the population in MENA blockchain) are just the lat-
sometimes as many as 20. innovations, and blockchain are excluded from financial est in a series of innovations
African countries are also in particular, being shown by services. Why have banks that have occurred to date,
highly reliant on remittanc- countries in the Middle East, throughout history exclu- including the introduction
es; however, they face the given that it is estimated sively served the wealthiest of core banking systems
highest remittance costs in that 80% of the world’s in society, when by the very in the 1970’s and 80’s, the
the world. Remittance costs unbanked live in Muslim ma- virtue of being able to ac- introduction of ATMs in the
average 10% in sub-Saharan jority countries. cess banking services, these 1990’s, and the introduction
Africa, and can reach as However, with all the talk people have been able to of mobile money (e.g. M-
high as 20%. That means if of fintech and blockchain, grow their wealth further? Pesa in Kenya) in the 2000’s.
someone sends $100 back I often feel that the “why” As I outlined earlier, Possibly the first modern
to their family in Botswana, about the importance of all blockchain reduces manual example of fintech including
their family will receive just this gets forgotten. Why does processes, and therefore the financial inclusion is the
$80. The Financial Times access to modern financial time taken, in sharing and introduction of core bank-
estimates the cost of this services help improve the updating information. This is ing systems in the 1970’s.
to African people to be a Before the introduction of
“supertax,” totaling over $2 Blockchain is an important fintech core banking systems, each
billion per year. innovation- it will allow companies and bank branch manually pro-
These costs, delays and in- cessed its own transactions
efficiencies are not absorbed
individuals to agree and settle contracts
by hand. Unsurprisingly,
by the banks; they are passed and transactions very quickly and this was a labor-intensive
on to the consumer, the very efficiently, and removes the need for process– and consequently
people that need the money intermediaries or central counterparties. a very expensive one. These
costs were passed onto con-
sumers. Only the wealthiest
could afford to sustain
these costs, and therefore,
only the wealthiest had a
bank account. Core banking
introduced an IT system that
allowed a network of bank
branches to all be connected,
and log and settle transac-
tions on the central “core” IT
system. This drastically re-
duced processing times and
costs to the bank of provid-
ing a simple bank account,
meaning that banks could
profitably bank less wealthy
customers for the first time.
In Europe, in the period
between 1975-1985 that core
banking systems were intro-
duced, the number of people
with bank accounts tripled.
Ian Dillon is the co-founder of NOW Money. Ian was educated at Cambridge and Exeter Universities, and while at Cambridge, he started a successful
e-commerce business which has recently been sold. Ian’s former banking career was spent at HSBC, working in retail and corporate banking and
FX, before taking a management role within investment banking capital markets. In 2015, he co-founded NOW Money, an accounts and remittance
service for the unbanked population of the Middle East.
W
ith digital design mentality, standard forced researchers to consider business. Often, stakeholders
transformation tools, and techniques used to what user experience is, and might have different goals,
enveloping every produce desired effects in a how to evaluate and improve which, might overlap. Based
aspect of our person or persona. The advent upon it. User experience on the research, the UX
lives, or rather, the entire of user-centric designs, web (UX) outlines the individual designer needs to prepare
human civilization adapting accessibility, and usability expectation, evaluation, cog- feedback and plan the design
to the digital way of life, transformed the way websites nition, and communication of accordingly. The product
user experience has evolved were created. Gone are the a product interaction by the structure, content and audi-
as a characteristic worth days when a website had the user. Not paying attention to ence are a direct reflection of
investing in with world’s best looks of a simpleton with the user experience during the these discovered goals.
technologies and technical products elementarily listed. development of technically
minds. At the center of this Today’s websites and applica- mature products can result in Building personas After goal
transformation, resides the tions are glossy, user-centric, absolute failure. However, by setting, the next step is to
customer– the ever maturing multiple-view abled, and a focusing on positive experi- identify the customer base
and evolving customer. User result of psycho-analytical ence design during product and create personas. Personas
appeasement is at the center study and research on human development, the potential to are the personification of us-
of how user experience is buying behavior. create exciting products and ers who will use the product.
ideated upon, planned, and customer loyalty increases A product can have multiple
finally implemented. THE TRANSFORMATION manifold. personas, and each per-
In recent years, websites OF THE WEB A study conducted by sona can have different back-
and web applications have Traditionally, only two fac- Institute of Electrical and grounds, personalities, needs,
undergone significant changes tors influenced design– what Electronics Engineers gives a and end goals. Segregating the
and have experienced a would look good, and would better understanding of the personas and identifying the
fundamental shift in their as- the client like it. The last de- criticality of user experience course of action helps provide
sessment of user-product in- cade witnessed a transforma- design and on why software the best possible experience.
teractions. Emotional aspects tion of the web. The number fails. The result shows that
are becoming more important of web users has increased organizations spend almost Content is key Understanding
than traditional aspects, globally to roughly 3.4 billion US$1 trillion on Information the goal and audience helps
such as mere usability and users. The increase in access Technology (IT). 15% of these develop the right content.
functionality. How and what to the internet via various IT projects are estimated to be Creating engaging and
is the user experiencing with devices, like mobiles, tablets, abandoned or failed because relevant content is key. Con-
the product? A once one-way laptops and desktops along of poor user experience. sidering the shorter attention
static medium has evolved with more browser options, Failure of these projects is span of users, engaging them
and advanced into a very rich and various internet connec- avoidable. Some of the rea- quickly is critical. Provid-
and interactive experience. tion types, has resulted in the sons why a software fails are: ing users the right kind of
Design professionals use the surge of accessibility. Your unrealistic project goals, inac- content plays a major role in
phrase “user experience de- favorite product is no longer curate assessment of needed customer branding.
sign” to describe certain user- just available only behind the resources, poor reporting
centered design methods, glass showcase of the brand’s tools, unmanaged risks, com- Business benefits Cost saving
mercial pressures, and use of is one of the primary benefits
immature technology. Focus- of user experience. A survey
Clinton O’Leary is the Chief Commercial Officer of Yvolv, a ing on user experience by way conducted by Econsultancy,
technology joint venture between Alibaba Cloud and Meraas. of stakeholder interviews, reveals that almost three-
| in the loop |
P
eople in the UAE could soon locations across Dubai in “30 minutes or gives them “an integration opportunity”
receive their online shopping via less.” The drones, which will run with a pro- with companies like Souq.com, for instance.
autonomous drone delivery service if prietary mobile application, will allow users “Souq at the moment uses more than
everything goes according to the plans of to track and manage their orders as well. 200 bikes to deliver their items to their
Space Autonomous Drones, a new Dubai “We have already manufactured and tested customers in Dubai alone, which has a high
company created as a result of partner- the drones in San Francisco, and done a full operational cost attached to it from Salik,
ship between UAE-based tech company operational test with Swiss Post in Switzer- to fuel and drivers associated costs; Space
Eniverse Technologies and San Francisco- land, and in September [2017], we are con- Autonomous drones will cut these costs to
based drones maker Skycart as announced ducting first delivery test in Dubai, aiming almost zero, hence we are actually creating
in July. Currently seeking legal approval at getting the regulation approvals to start a new market and category in the logistics
from the Dubai government, Space Au- operations between March and September industry,” he says.
tonomous Drones estimates the launch of 2018,” notes Mohammed Johmani, CEO, As part of the partnership, the US-based
the service to be “between 2018 and 2019,” Eniverse Technologies, and founder, Space Skycart will bring its drones experience and
and expresses confidence in a statement Autonomous Drones, speaking about the technology to the UAE, while Eniverse (a
that “it will fulfill all the legal criteria and plans for launch. Johmani says the com- company that prides itself on “incept[ing]
kickstart operations ahead of schedule.” pany plans to price the solution between ideas that become successful businesses”)
Once launched, Space Autonomous AED10-15 per delivery, while traditional will “draw the operational structure of
Drones’ technology will enable shipping of deliveries usually cost up to AED25. “This Space Autonomous Drones,” to meet all
products weighing up to five kilograms to shows you the economics of the concept in regulatory requirements of the UAE. With
comparison to the tradi- the UAE’s emphasis on Smart City initia-
tional delivery methods,” tives, and with governmental entities such
he adds. as RTA and Dubai Future Accelerator using
As industry reports technology to improve quality of living for
estimate the demand for Dubai residents (for instance RTA’s autono-
Image courtesy Space Autonomous Drones
drone technology in the mous air taxi, which was tested in June
Gulf region to reach over 2017, and is set to start the trial operation
US$1.5 billion by 2022, soon), Johmani is confident that “Dubai
Space Autonomous -through its Dubai 10X program and
Drones aims to capture Dubai Future Accelerators- will realize the
a part of this market potential of the autonomous drones, and
by collaborating with its positive impact on Dubai’s economy.”
established companies Here’s hoping to catch soon the drones in
that would be interested action in the UAE skies!
Turning
If you expect excellence and demonstrable with eager, intelligent and engaged employ-
leadership from certain employees, you ees. With the cream of the crop, how do
need to invest in them and provide them you know who to promote, or who to offer
good with the tools to grow. leadership development?
There are a lot of misconceptions about
employees Excellent leadership begins with
recruitment assessment
leadership, and acting on these misconcep-
tions can prove pricey in a number of ways.
Nick Davis is a business psychologist and Director at Davis Associates, an HR consultancy based in Surrey, UK. Davis uses his knowledge and
expertise to improve organizational performance for companies around the world.
U
AE’s algorithm-based online recruit- ing a few of the company’s core offerings, something to leverage on. “You should be
ment platform Bloovo.com has he says its features include “scientific prepared to answer any question relating
closed a US$3 million funding round matching percentages, probabilities of suc- to your venture, your differentiation, the
in June 2017, led by GCC-focused private cess, candidate 30-second pitching videos, industry you are in, and its dynamics. Sur-
equity firm Noble Partners with participa- insightful dashboards for both employers round yourself with at least one strong and
tion from ProCapita from Kuwait, Oman’s and job seekers, in addition to an advanced exposed co-founder, and be ready to work
Mohamad Moosa Abdulrahman Investment but smart online recruitment monitoring 48 hours non-stop- no holidays, no rest,
office, Al Serkal and Al Shafar from the software for employers.” and more importantly you should never
UAE, among others. The entrepreneur holds a firm belief that give up,” says Khamis, sharing takeaways
With this financial injection, Bloovo.com with data playing a huge role in the lives of for MENA’s aspiring entrepreneurs from his
aims to accelerate growth across MENA individuals and companies when it comes to own fundraising experience.
(by expanding in Saudi Arabia), enter decision making, Bloovo.com’s premise to
Indian market, invest in advertising, and utilize big data to streamline the recruit-
Ahmad Khamis,
strengthen its team to support operations, ment process has potential to scale as a co-founder and CEO,
aiming to grow the current 16-member business- both in the MENA region and Bloovo.com
team to 40 by the end of 2018. The HR globally. Acknowledging that the Middle
tech startup, which started operations in East is home to numerous conventional
January 2016, says both business and team recruitment portals, he adds that, at Bloovo.
size has gained momentum since then, with com, “adopting data science in the recruit-
its employer base (clients) growing from ment play was [their] theme.”
260 in 2016 to over 1,850 employers as of Besides creating a product that scientifi-
May 2017. cally ensures appropriate fit for open roles,
“The job mismatch problem is a univer- with growing concerns of robots and other
sal one, and what we try to do at Bloovo. technology taking over human jobs, Khamis
com is to find the means to solve such a says he wanted to “create something that
Image courtesy Bloovo.com
problem through the use of data science is algorithmic, [and hence] would not only
and advanced algorithms to make job survive in the technological disruption
matching a reality,” says Ahmad Khamis, era, but be a best choice when it comes to
the startup’s co-founder and CEO. Explain- recruitment.”
Gadgets and doodads that you might’ve missed out on, sourced by a tech aficionado.
Yes, it’s okay to want them all… and no, it’s not our fault.
Huawei has launched the partnerships with Grammy matter when or where you
new and improved Honor 9 Award winner Rainer Mailler are. Huawei also continues
smartphone. The upgraded and Monster for audio fine- its commitment to security
flagship device features a tuning and optimization. with Honor 9’s front-facing
dual-lens camera, which Thanks to its 5.15-inch FHD fingerprint sensor, which
includes a 20MP mono- screen with 428 PPI, offering lets you quickly unlock your
chrome lens and a 12MP RGB true-to-life color reproduction device without picking it up.
lens with hybrid zoom and and color saturation levels Honor 9 is uniquely designed
Huawei Histen 3D sound field of up to 96%, this device with a curved 3D glass back
technology that has three dif- is certainly nice to look at. and metal frame, and for a bit
ferent modes -near, front and The sunlight, night, and eye of additional style, it’s now
wide- to replicate surround comfort modes ensure that available in a cool new color
sound. Huawei also leveraged your screen looks great, no called Glacier Grey as well.
Honor 9 smartphone
Honor 9
smartphone
#TAMTALKSTECH Tamara Clarke, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one
of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the
region. Clarke’s goal is to inform about technology and how it supports our lifestyles. See her work both in print regional publications and online
on her blog where she discusses everything from how a new gadget improves day-to-day life to how to coordinate your smartphone accessories.
Visit www.theglobalgazette.com and talk to her on Twitter @TamaraClarke.
‘Trep trimmings
The executive selection
From better goods to better wardrobe bests, every issue we choose a few items that make
the approved executive selection list. In this issue, we present our selections from the
Salvatore Ferragamo Spring/Summer 2017 range, a timepiece combining the best of two
brands, and an eyewear piece worthy of your collection.
Tom Ford
Tom Ford Private Eyewear
Private Eyewear Collection
Collection
Editor’s pick
Tom Ford
If there’s a brand that has become known for mastering
flattering looks, it’s Tom Ford. Smart enough to be paired
with a suit, and cool enough for the weekend, we’ve taken
a shine to the brand’s Private Eyewear Collection. Made
with Japanese titanium for an ultra-light weight feel, the
photochromic lenses will also darken and lighten depending
on illumination levels. Look sharp! www.tomford.com
Happy endings
The Esquire Guy walks you through the best way
to wrap up a business meeting
By Ross McCammon
L
ast impressions are under- What you do
rated in business. Else- Obviously, you shake hands with
where? Not underrated. At everyone. Obviously, you smile. The
a restaurant: dessert. At key is to shake hands and smile in a
the Olympics: closing cer- way that suggests you are, say, 30%
emonies. At the end of The Cannon- more pleased with how things went
ball Run: a hilarious blooper reel. than you actually are. Politicians do
But at the end of a meeting? Some this all the time. Especially after a
handshakes and business cards. debate. Fathers of the bride do this,
What restaurateurs and Olympics too. So do the North Koreans after
organizers and movie producers their leader says something. The
know that the rest of us don’t is scientific term for it is: Post Event
that a good ending magically makes Feigned Delight. Used in a sentence:
you think that everything preceding “Bob, nice work in the meeting, but
it went off better than it actually would it have killed you to have
did. The last impression is a power- upped the PEFD a little?”
ful thing. The ending is important. This is straightforward if the
Especially in a meeting room. meeting was innocuous. But
To be clear: this isn’t about end- what if the meeting was difficult?
ing a meeting. Ending a meeting has For advice on that, we turn to
never struck us as all that difficult. a group of people who have
This is about what happens after been indispensable to us when
this is about what happens after
the meeting has already ended. The discussing meeting etiquette in the
the meeting has already ended. The
handshaking. The small-talking. past, people who have witnessed handshaking. The small-talking.
The walking to the door. The asking more difficult meetings than almost The walking to the door. The asking
where the restroom is. This is about anyone: former White House press where the restroom is. This is about
leaving- but in a meaningful way. secretaries. leaving- but in a meaningful way.
emotional input to the meeting has know if those meetings are going to coming people who aren’t obsessed
been acknowledged.” lead to something else,” Perino says. only with numbers and strategy has
Establish common ground even “And the people you meet on the begun. A meeting is an alternate
if you couldn’t find any in the way up are the same people you’re reality that you should consciously
meeting. Irony and sarcasm can going to see on the way down. So, transition out of. When you’re
be useful. (“Well, that was easy.”) you’d better be nice to every single leaving the room, you and everyone
But I think it’s better to be honest. one of them, and take that oppor- else become re-humanized. You’re
(“Well, that blew.”) Then pro- tunity to thank somebody for their putting yourself back in the context
ceed to have an equally authentic valuable time, and smile and hold of real life, which is useful, because
conversation that has nothing to your head high as you walk out. One that’s where the best ideas happen
do with what you just met about. of the highest compliments you can anyway.
I
It helped them develop creative ball
n 1930, a 23-year-old teacher in players get 600% more touches during handling skills, which turned out to be
Uruguay named Juan Carlos Ceriani a typical game than soccer players do. valuable in the game of soccer.
created a new sport. Ceriani wanted Throughout the 1930s and into the Similarly, you shouldn’t try to develop
to design a game that was similar to 1940s, futsal migrated from Uruguay the skill of being “good at marketing,”
soccer, but that his students could to Brazil, where the Brazilians fell in for example. It’s too broad. Instead,
play indoors throughout the year. love with the new game. (Even today, focus on learning how to write compel-
His new game became known as over 75 years later, more people play ling headlines or analyze website data-
futsal. futsal in Brazil than soccer.) It’s hard something specific and tangible.
Futsal is very similar to soccer, but it to say why futsal became so popular
has a few important differences. First, in Brazil, but one thing is for sure: the 2. Design a constraint that
it is played in a much smaller area. (Ce- young Brazilians who grew up playing requires this specific skill to be
riani designed the game so that it could futsal throughout the 1940s and 1950s used. There are three main options for
be played on YMCA basketball courts.) developed incredible ball handling and designing a constraint: time, resources,
Second, the ball is smaller and has less technical skills. and environment.
bounce than a regular soccer ball. Third, Eventually, these children grew into Time Give yourself less time to accom-
there are only five players per side adults and made the transition from plish a task or set a schedule that forces
rather than the typical eleven players futsal to soccer. The athletic creativity you to work on a skill more consistently.
per side in a soccer match. they developed in those futsal games Resources Give yourself fewer re-
This combination of factors -a tighter would help the Brazilians to shine on sources (or different resources) to do a
playing environment and a less bouncy the world stage. During the 12-year task.
ball- requires futsal players to develop span from 1958 to 1970, there were four Environment According to one study,
more creative ball skills because they World Cup championships. Brazil won if you eat on 10-inch plates rather than
are constantly playing in crowded three of them. 12-inch plates, you’ll consume 22%
spaces. Additionally, because there are fewer calories over the course of a year.
fewer players, each person touches the Constraints accelerate skill One simple change in environment
ball much more than they would in a development can lead to significant results. In my
futsal image © feelphoto / shutterstock
standard soccer match. In fact, accord- It is common to complain about the opinion, environmental constraints are
ing to research quoted by Daniel Coyle constraints in our lives: too little best because they impact your behavior
in his book The Talent Code, futsal time, not enough money, too small of without you realizing it.
James Clear writes at jamesclear.com, where he uses behavior science to share ideas for mastering your habits, improving your health,
and increasing your creativity. To get useful ideas on improving your mental and physical performance, join his free newsletter
jamesclear.com/newsletter. To have James speak at your entrepreneurial event contact him jamesclear.com/contact
I
repeated action. What matters most is n the spirit of fueling the growth 20 startups were chosen to attend
getting your reps in. of Lebanon’s ecosystem further, a week of product development
the UK Lebanon Tech Hub workshop. After a week, six startups
The idea in practice (UKLTH) has launched The were shortlisted to join The Nucleus’
I am currently experimenting with dif- Nucleus, a venture building program full three-month acceleration
ferent constraints to boost my skills in whose objective is to turn tech program. The six startups would
certain areas. Here are a few skills I have ideas and minimum viable products receive an investment of $20,000
been working to develop and the con- into marketable solutions- and it in cash and $30,000 in services, in
straints I am placing on myself to make commences with offering financial return for a 5% equity stake. Over
them happen: support too. The Central Bank of the course of three months, startups
Lebanon will fund the UKLTH with would undergo workshops on finance,
Writing skills I want to be a better US$3.2 million -in parallel to the legal structures, raising funds,
writer, so I set a schedule where I have to fund pledged by the UK Embassy- marketing and sales, as well access
publish a new article every Monday and totaling its funding to $6.4 million, to office space, legal and auditing
Thursday. The schedule is my constraint. as announced by Nicolas Sehnaoui, services support, and HR services.
It doesn’t matter how good or how bad Chairman of the UKLTH, during the After the program, alumni startups
the article is. It doesn’t matter how long launch. can still receive support through
or how short it is. I have to get something From 176 applications, with 37 facilitating partnerships and potential
out every Monday and Thursday. This applicants from outside Lebanon, investments.
forces me to be creative and to do the one
thing that good writers do: write. I don’t A scene from the launch of
always hit the mark, but I have stuck The Nucleus program at
UK Lebanon Tech Hub
with this schedule for two years and I’ve
written over 200,000 words.
W
hen you stand up in front entrepreneurial behavior from as young High levels of self-regulation
of a classroom and impart as five. Yes, it is at this formative time In the same respect, business owners
knowledge, you have that there are noticeable differences need to regulate their own lifestyles
genuine power, and that’s between them and their peers. While and workflows. You may think that
why educators can make a many may simply overlook the charac- this is a learnt characteristic, but the
real difference to the future teristics associated with entrepreneur- findings tell a different story. In fact,
success of their students. But it is not ship in children, educators have a core entrepreneurial children came in at
as simple as merely equipping them duty to identify and nurture them. Case 0.15 on self-regulation. Compared to
with the necessary tools. Instead, it is in point, there is a huge body of evi- the average of their peers, which was
about identifying their innate talents dence, well documented in the Acade- -0.01.
at a crucial age, and supporting them my of Entrepreneurship Journal, which
to grow into the entrepreneurs and suggests that educators do indeed Slightly higher IQ levels
leaders of tomorrow. So, how can you play a vital role in the future business Now, here’s a surprise for most of us.
go about doing this? Well, there are pursuits of their students. As they note, While some imagine that entrepre-
some remarkable tools, resources, and “Students’ entrepreneurial self-efficacy neurs are vastly more intelligent than
methods you can apply. can be enhanced by positive, encourag- those around them, the results show
ing comments from teachers.” something altogether different. In real-
The data shows young people really Armed with this knowledge, it is, ity, there was only a variation of 0.01
are our future therefore, crucial that educational between the two sets of students.
What makes a successful entrepreneur? institutions put great emphasis on their
Many think that a business person students’ entrepreneurial traits from Lower reading abilities, but higher
is merely “created” through their the earliest possible age. math abilities
upbringing, their lifestyle choices, and, Finally, it is worth considering chil-
indeed, their level of education. While The challenge of spotting a young dren’s aptitude for basic skills, such
all of the above may well be true, data entrepreneur as math and reading. According to the
shows that there could also be a natural There is no doubt in my mind that sample, students who went on to be
element to entrepreneurship. In other there are children out there with entrepreneurs had higher math abilities
words, what if these traits were innate? entrepreneurial spirit who slip under than their peers and yet lower reading
The chances are they might be. the radar. For whatever reason, these skills. While these results won’t be true
Contrary to popular belief, children individuals are not given the help they in all cases, you should keep them in
have been known to start exhibiting need to thrive in the future. While mind.
Tanvir Haque is currently the Chief Commercial Officer at Lifecare International, and he is the founder and Non-Executive Director of
Freshstone Consulting. He thrives on developing customer-centric business relationships, and as such he is currently focused on revolutionizing
Lifecare’s customer experience and driving the company’s digital transformation plans– all with the aim of unlocking Lifecare’s full technology
potential. With a career spanning back more than 20 years, Tanvir’s experience has been gathered in professional services, banking, and
telecommunications, having worked with PwC in Sydney, Andersen in Sydney and London, and Standard Chartered Bank in London.
Entrepreneurs raising
Think about curriculum development entrepreneurs
Once talent is identified, there needs
Entrepreneurial parents, here’s what you need to pass on to your kids
to be methods in place for students
By Helen Al Uzaizi
to nurture and develop their innate
talent. One key aspect for educators to The entrepreneurship road hasn’t always may be all too familiar with. One way entre-
consider is creating a curriculum that been easy, but one thing is for sure, it has preneurs find fulfilment and the energy to
allows students to “practise” their tal- taught you some valuable lessons- and for keep going is helping others around them.
ents, much as they would practise any some of us, we wouldn’t have it any other Developing a sense of belonging to the
of the traditional subjects. The objec- way. Whether you would like your children community will give your children greater
tive is to develop talents into strengths. to follow in the same path, or take over the perspective on the world around them and
business you have established, passing on the problems facing their immediate com-
Learning experiences with entrepreneurs some of the knowledge you learned along munity. You can start by setting an example
“Vicarious learning” is the act of your journey can help them succeed in for your children by volunteering in various
experiencing and taking on knowledge theirs. These lessons will help your children community initiatives and exposing them to
from the success of others. For ex- regardless of the path they choose in life, regular activities like food donation drives or
ample, teachers may invite successful make them well-rounded individuals, and environmental projects. You will be teaching
entrepreneurs into the classroom to give them the ability to take on any future your children that they can make a differ-
deliver speeches or even skill lessons. challenge. ence if they participate, a belief they will
Over the years, there have been various carry into adulthood.
studies to support the idea that this The value of money and how to
technique is effective on a small scale. manage it If you recall how hard you had Cultivate empathy Empathy is a crucial
The inclusion of entrepreneurs and to work to earn your first dollar, this gave skill that needs to start at home. Relating to
business owners within an educational you a deeper sense of appreciation and others’ emotions and working with people
setting may seem unusual, but it is one understanding of the value of money. While to help accomplish their goals is a vital skill
that could seriously pay off in terms of your children may have it easier than you, for entrepreneurs. Being empathetic is the
results. they still need to learn the value of their difference between an effective leader who
work and what it takes to earn money. Just is respected and one who is not much liked
Positive reinforcement from teachers as important, they need to know what to by their employees. You can set an example
While every educator seeks to encour- do with that money when they do earn it for your kids by showing them how to
age their students, there may be a and this requires a basic level of financial listen to others and the value of supporting
deeper meaning behind this act. In literacy. One way to start is to give your those around them. Emotional intelligence
fact, the research suggests that “verbal child opportunities to earn money by doing requires a role model who practices active
persuasion” -giving children positive chores or helping out around the house. You listening, understanding, and is consistently
reinforcement on their successes- can should also help them take that money and respectful to others.
help to boost their leadership skillset. put it into a bank account so they develop a
basic understanding of saving, interest, and Embracing failure and remaining
Fear prevention lessons Of course, investing. positive Did you give up after your
one of the major things that holds first failure? Probably not, otherwise you
young people back when it comes to Reward their curiosity A healthy wouldn’t be where you are today. Failure
entrepreneurship is the fear of failure sense of curiosity has propelled many en- carries a heavy stigma in our society, but
itself. Hence, the research suggests trepreneurs to create innovative businesses in the world of entrepreneurship, it’s a
that teachers should work alongside and find creative solutions to age-old fundamental part of the equation. Many en-
students to diminish fears surrounding problems. This sense of curiosity however trepreneurs fail, but it’s the successful ones
autonomy and leadership. In doing needs to be nurtured and encouraged at a who didn’t give up and tried again. Fear of
so, they can help to give young people young age. Rewarding your child’s curiosity failure is learned at an early age, but if you
the confidence they need to start up a and encouraging them to pursue methods want to raise a successful entrepreneur, you
business alone in the future. of finding their own answers will help them need to show them how to deal with it in a
throughout their entire careers. They will healthy way while remaining positive. Even
After identifying the necessary traits learn to question information and think more important, you need to guide your
and including the above-mentioned critically about daily challenges, a valuable child (at a healthy distance as to maintain
approaches in the classroom, educa- trait for independent individuals and innova- their independence) through their failure
tors can give their students a fighting tors in any field. so they can learn from the experience. As
chance in the arena of leadership and they learn to embrace failure, your child
entrepreneurship. Nurturing select The value of giving back to the com- will develop resilience which will help them
students in this area will not only munity Entrepreneurs face a great deal of overcome setbacks in the future and keep
give them confidence, but gives them loneliness during their journey, a fact you moving forward.
the best possible chance of realizing
their potential. It is in this way that
Helen Al Uzaizi is the CEO of BizWorld UAE and founder of the entrepreneurship education
modern-day educators can truly make platform for the MENA region, Future Entrepreneurs. With a 15+ year career in the corporate
an impact on the future. and startup world, Helen directed her passion to the entrepreneurship education field,
working to instill the entrepreneurial mindset in the next generation of leaders.
A
highly profitable busi- have hundreds, thousands, loss because actually being partnerships with the people
ness with year on year or even millions of customers the person you want to attract who you are now attracting
revenue growth, an lining up to use their products opens new levels of insight into your business. Using our
impressive list of high- or services. We only need and understanding. Let’s take example, it means partnering
value clients, and an excep- to think of people like Mark the entrepreneur example with new potential clients
tional brand that attracts Zuckerberg, Steve Jobs, Rich- again- your business is look- who are entrepreneurs. They
a continual stream of new ard Branson, and Bill Gates, to ing to attract passionate, see that you understand them
opportunities– this is a dream name a few. proactive entrepreneurs who and are in fact an entrepre-
business enterprise that so Well, you might say, these desire to build disruptive, neur yourself, which naturally
many aspire to, but only few people just got lucky. They game changing businesses. attracts them to you, because
achieve… why? were just in the right place at Being the person you want you’re attracting what you
Is it actually possible to the right time. But how ex- to attract (i.e. the passionate are. The more people you at-
build a business like this? If actly do you position yourself entrepreneur), will enable you tract, the more partnerships
we look to the many talented to be in the right place at the to gain firsthand, personal, in- you can form and this begins
entrepreneurs who started right time? depth insight into the wants, an upward cycle of attraction
out on shoestring budget and Through the law of attrac- needs, interests and chal- and partnering which can
went on to build global busi- tion. Put simply, the law of lenges of entrepreneurs on an propel you and your business
ness empires, then the answer attraction means you will at- emotional as well as intellec- to new levels of success you
is a resounding yes. tract what you focus upon. tual level. previously thought unattain-
So, what key element sepa- In business, there are four able.
rates those that achieve this steps we can follow to lever- 3. Share with who you Most unsuccessful business-
level of success and those that age the law of attraction. want to attract Once you es focused on selling alone,
don’t? have a clear understanding skip the first three steps and
I think the answer can be 1. Know who you want to of who you want to attract, jump straight into the final
found in the law of attraction. attract The first step is to and you’ve gained an in-depth step of trying to win a new
One of my favorite mentors have a crystal-clear idea of understanding of their wants, client. In sales and market-
Jim Rohn once said: “Success who you want to attract into needs, interests and chal- ing, we have terminologies for
isn’t something you pursue, your business. For example, lenges by actually embodying this, such as “client-conver-
it’s something you attract,” it could be attracting lucra- that person yourself, you’re sion,” and “closing the sale,”
and this appears to be self- tive new clients, reputable now able to combine this however, in reality, we’re
evident when you look at business partners or talented understanding and insight not closing or converting
successful entrepreneurs all new team members into your with your talents to create anything. The person we’re
over the world. business. Let’s take a look at something innovative and looking to form a relation-
Successful entrepreneurs attracting new clients as an outstanding. It might be a ship with is choosing to
aren’t cold calling hundreds example. If your business is product or a service, as long engage with us, because we’ve
of people begging them to buy looking to attract new clients as it’s something that helps attracted them. The more
their products or services. who are entrepreneurs, you the people you want to at- attracted they are to us or our
Nor are they engaged in high will need to know more than tract. The next step is to share business, the more likely they
pressure sales tactics or inter- some simple demographics that creation with them! will be to partner with us and
ruptive advertising, yet they such as their age, location or Share a piece or a part of become a client.
Matthew Chaban is the founder of Marketing Masters Consulting, and he helps companies and consultants with impressive growth trajectories
to date reach their next level of growth. Chaban relishes the challenge of championing innovation and growth within a company, and he writes
regularly on strategic marketing and entrepreneurship.
I
nfrastructure (noun): The basic physical a country is no easy task- look at all the ourselves is, well, hard! If we take “doing
and organizational structures and facilities countries in the world that know what it alone” off the table, then we are left
(e.g. buildings, roads, power supplies) they need today, but aren’t able (or will- with two options. The first is -regret-
needed for the operation of a society or ing) to deliver it to their people. Antici- tably- the more commonly selected one:
enterprise. pating what a country will need in a year doing nothing at all. “If I can’t do 100%,
-or five years, or a decade- in advance, what’s the point of starting?” There is
Living in the amazing city of Dubai, we and investing in building it is a whole enough logic there to reinforce a limit-
can almost be forgiven for taking the other level of brilliance and foresight. ing belief, and, for some people, that is
brilliant infrastructure around us for In admiring all this that we are blessed enough.
granted. Assume, for a minute, if Sheikh to have around us, however, there is a Another -smaller- group of people have
Zayed Road was closed for a day, or if big lesson to be learnt: to be world-class a different solution. They don’t try to do
the metro stopped working, or if the tomorrow, the time/money/effort invest- it alone, because they know the diffi-
sewage treatment facilities, or telecom- ment needs to be made today. No project culty, and they don’t do nothing because
munication hubs, or the airport were to with a large, sustained impact can be they recognize the price of inaction. For
get intermittently interrupted. We have built in a hurry.
become so accustomed to having these You wouldn’t live
services available to us that we almost in a tower that
don’t notice them anymore. was designed and
Yet, there was a time -not too long ago- built overnight,
when a lot of these were less reliable, or nor would you
perhaps even non-existent. Sending an put your hard-
SMS was a big deal 20 years ago, and earned money in
MMS was expensive (anyone remember buying shares in
MMS?), but today, I can scan a check on a company that
my phone, submit it via an app, and have launched yes-
the money transferred to my account terday and went
in seconds. Building the infrastructure public today. Yet,
necessary to meet the requirements of you are investing
Murtaza Manji is an award-winning business coach and the founder of Kaizen Consulting, the first ActionCOACH firm in the Middle East. In the last
six years, he has worked with over 400 successful CEOs, directors and business owners from over 15 different industries in Dubai and London to
achieve higher profits, greater productivity from their teams, and sustainable growth by creating efficient systems and structures. Find him on Twitter
at @CoachMRM.
I
and by developing sup- ance on technology that we f you are a part of today’s be more valuable than just a
port networks to help them are losing the benefit of real digital marketing industry, webpage. Ultimately, includ-
achieve their personal and human interaction. Create a you have undoubtedly heard ing a “strong and smart” call
professional goals. For them, space -both physically and the term “content is king,” to action will likely determine
there is no “if” when it comes in your calendar- to meet over and over again in your the success of any content
to getting what they want to with friends, colleagues and line of work. However, Pay- marketing effort, ensuring
get- only “when,” and “how.” guests. No amount of emails Fort’s recent infographic on prospective customers to
If achieving excellence can communicate the trust content marketing stresses take the next step, says the
-personal or professional- is conveyed in a handshake, that creating content for the infographic.
your target, and perhaps if and no voice message can sake of creating helps no one, www.payfort.com/blog
you have already begun feel- truly convey the happiness and what matters is creat-
ing the overwhelm of trying of laughter. Develop strong ing content that nudges new
to do it yourself, here are five friendships, nurture them, users to come to you. The
“personal infrastructure” and use the power of rela- study, offering seven tips to
suggestions that can help you tionships to your advantage. “create content that creates
succeed. customers” finds that 80% of
4. Build a “city of you” businesses are using content
1. Fix the cracks The idea behind allocating marketing but only 38% use
Where are you losing time, entire areas to one activity is it to drive sales.
effort, money, and/or energy? to boost chances of success One of the strategies the
These are precious resources, in that focus area. Create a infographic offers is to create
and losing what you need to professional “city” around content that relates to typical
keep growing is the best way you, where every element is “pre-buying” themes, which
to stunt your growth. Areas designed to help you excel. customers are likely to re-
to improve on: have good You are what you make of search on before dealing with
time management systems yourself, so from office spaces your company. Also critical is
in place, create and follow a that you enjoy working from, the formats of content- cre-
personal budget, sleep and to people who support you, ate materials that people can
eat properly, and monitor each customizable ingredi- download and own, since
your mood. Once you identify ent in your environment such resources are found to
where the leak is, stop every- should be part of your recipe
thing to fix it immediately. for success. While there are
some things that you can’t
2. Clear the drainage influence, you can definitely a good one) and study your growth, business success and
While what we need is eas- have metrics to track your highs and lows. Gratitude quality of life. The investment
ily lost, what we don’t need professional growth (not just for what you have today made by the country into
somehow manages to stick activity), carve out learning is powerful, and reflection itself has paid back hundreds
around. There will always be and self-development times, on the challenges will help of times over, and will keep
wastage, and a good system get a coach or mentor to you prepare to face them in paying back. The people who
has an efficient disposal accelerate your growth, and your future. Invest in your take this same approach to
mechanism. Cutting out the continually seek out con- learning, your reading, and life see the same results, and
clutter in your life and work structive feedback. There is a your health. Your days at the it is not just multi-million-
will leave you with more huge difference between ten peak of your game are already aires and CEOs. All around
time and space to focus on years of experience and one limited by time, don’t allow us, there are people who have
the necessary. Some areas year experience repeated ten them to finish any sooner. done and are doing what
to look into, and work on times. In the GCC, Mecca and needs to be done to ensure
may include: organizing your Medina are perhaps the only their success. What we see is
physical space, managing 5. Do a “happiness survey” locations that had something a result of years of efforts and
typical challenges, and learn- At the end of the day, what truly unique. All the other investments. It is more than
ing to ‘let go’ of things beyond more do we want from life natural resources that the worth it. The takeaway to live
your control. than to be happy? Stop and UAE enjoys are similar to the by, in the words of Warren
reflect on your life, look back resources of the other Arab Buffet, is: “The best invest-
3. Have a majlis at your journey at appropri- countries. Yet, this country ment you will ever make is in
In Arab culture, a majlis was ate intervals (birthdays are is leading the way in terms of yourself.”
Fahad Al Hassawi,
Chief Commercial
Officer, du
A
large number of the plans provide significant cost
world’s greatest entre- savings for entrepreneurs.
preneurs started their As a UAE company, du’s pri-
businesses with apprentice- mary responsibility is to benefit
ships, with the original concept the community. du interacts
of earn while you learn. At with the community regularly
du, we have recognized a new and believes in supporting lo- reality TV show in 2012, which can engender a more support-
breed of entrepreneurs; the cal enterprises. The UAE is a provided seed funding and ive ecosystem during a panel
youth, and we have fostered great place to start a business mentorship to a new genre of discussion. The open forum
the importance of encouraging and the economy relies on the driven and creative entrepre- session was a great way for
entrepreneurship in the region contribution of SMEs. In fact, neurs. As an organization, du SMEs to interact with large
in order to drive the economy the UAE is in the top 20 for also regularly works with or- enterprises and a diverse range
from a grassroots level. entrepreneurial attitude, activity ganizations in all different sec- of other startups to exchange
Since its establishment in and aspiration. du believes in tors of business including DED, learning experiences. During
2006, du has provided support supporting entrepreneurs and Microsoft, Wamda and Dubai a panel discussion, du’s SME
to the UAE’s entrepreneurial SMEs in their journey, as they SME. Furthermore, du has sup- Business Head discussed the
scene in various ways. du has grow their business, through ported events in the UAE such various challenges for corporate
created tailored telecommuni- tailored solutions, engagement as the Young Entrepreneur enterprises looking to sup-
cations solutions for small and programs, funding events, du Competition for three consecu- port the SME sector. This year,
medium enterprises (SMEs), operates with a 360-degree ap- tive years since 2014, which du also supported the STEP
such as the Business Mobile proach to promoting business. provides advice and opportuni- conference, which is an event
Plan that ensures uninterrupted Highlighting this support, du ties to SMEs on procurement that brings together MENA
communication and optimum extended its entrepreneurial and contracting procedures. entrepreneurs, investors, and
cost-savings. Colleagues can branch to The Entrepreneur In support of the youth of the tech and media enthusiasts
call each other for free and flex- show, which allowed aspir- UAE, du introduced its youth from the technology, digital and
ible add-ons meet businesses’ ing entrepreneurs to promote entrepreneurship program, the entertainment industries in a
day-to-day requirements. In their ideas to future partners Agent 055 Network initiative three-day event. In addition, our
addition, the Business Connect and investors that contribute to emphasize innovation in support ranged across to the
and Office Devices plans from meaningfully towards the social 2015, as well as diversification #xtalk concept, which consisted
du provides businesses with a development of communities. of revenue streams towards of a series of interactive discus-
one-stop shop solution, includ- We created the nation’s first being a knowledge-based sions between entrepreneurs
economy. The du Agent 055 organized by TiE, a prominent
Network is aimed at promoting non-profit global community of
entrepreneurship as a viable successful Indian executives.
career option among college Entrepreneurs can change the
and university students. The way we live and work and are
project combines the dual a great national asset, their
benefits of gaining training innovations can improve life
and experience by working on aspects in many ways. At du,
behalf of a reputed organiza- we believe in providing as much
tion and earning an income. support as possible through
During Entrepreneur Middle a well-rounded approach to
East’s Enterprise Agility Forum promoting business for the
presented by du in 2016, du UAE, and creating a prosper-
drove the conversation around ous society for many years to
Entrepreneur Middle East’s Agility
Forum 2016 presented by du
how corporate entities in the come through our solutions
Middle East and North Africa and entrepreneurial support.
L
The same rule applies when meeting
iving in Dubai is like living in a this particular premise, especially when people in real life. You cannot talk about
village. This Emirate may look like networking or on social media, and people to strangers without think-
a huge city, but there are often only provide strangers with their personal ing there will be repercussions. In all
two or less degrees of separation details or gossip about other people. likelihood, the listener will either know
between everyone here- for me, it’s They seem to think that there will be no who you are talking about, or knows
one degree, in most cases. How is repercussions for providing too much someone who knows them. If you say
that possible? Shouldn’t there be at information. something negative about this person, it
least five degrees of separation (as we all I’ll give you an example. On a Fa- will come back to them, and this could
have with Kevin Bacon)? cebook group for businesswomen, a be detrimental to your life here in a
Well, if you are on social media, it is lady asked for help with growing her way that you did not envisage when you
easy to connect with a mixture of people business. Without going into the details started talking.
in this town. Social media is huge here, of the post, she wrote a few posts on Now, I’m no angel. I have made mis-
and everyone is connected to some- her personal life, including informa- takes and made enemies in this village.
one on one of the platforms, whether tion most of the followers on the group I have a low tolerance for nonsense,
it is Facebook, Twitter, Instagram or didn’t know about, but I know that a and so I will be quite blunt with people
LinkedIn. In addition, if you are an en- lot of people knew who she was refer- online or offline if they are being intoler-
trepreneur like me, you attend various ring to in her post. By revealing her able. I am known in the village as being
networking events on a monthly basis, personal life, she demonstrated that she frank and quite blunt, but I know my
where you meet people you either know didn’t know (or didn’t care) that Dubai limit. Over time, I have created a filter to
in real life or from social media. There was like a village, she lost trust among ensure I don’t get myself into trouble for
are always new people to meet at these her peers, and most importantly, she my comments and retorts to intolerable
events. You start talking and realize lost her credibility as well. Her prod- people. I also have a trusted network of
during the chat that you know the same uct is awesome, but now I would never people I can talk to about the village.
people either from Dubai, or sometimes recommend her to my clients, friends, Unfortunately, a lot of people have
even globally. If we don’t seem to have and followers on social media due to the either not learnt the art of diplomacy
connections whilst talking, I usually content of her posts, and also due to the and restraint, or think they are immune
find that they are connected to several fact that she decided to post such per- to it. Here’s the ugly truth: you are not
people I know on LinkedIn (when I add sonal information to strangers. I could immune in a village like this. Before
them post-networking). share my views on this person to my you write something on social media,
So, why am I talking about Dubai be- close friends, who may then pass it on or talk too much in this village, think
ing like a village, where a lot of you will to other people. Within a short space of about who will be the recipient, and the
often have just one degree of separation time, she would then be known not for potential people with whom they could
from everyone else? Because I’ve found her great product, but for her indiscre- share your details. Do you really want
that people here tend to forget about tions on social media. everyone to know your business?
Shelina Jokhiya is the founder of UAE-based startup Decluttr Me. DeCluttr Me has recently become the first international accredited member
of the Association of Professional Declutters and Organizers U.K. (APDO).
I
and reply to it too. Users can
With operations in UAE f you always find yourself gifting,” says Tilani, noting also check on their gifts’ de-
and KSA markets, in a bind when it comes how other sites had made livery status through SMS or
joi works with to figuring out a good, the process seem purely push notifications, make use
well-liked brands as
merchant partners
thoughtful gift, this transactional. “The senti- of a calendar feature to mark
such as jones MENA startup can help ment behind sending a gift significant days throughout
the grocer, Lime save the day. The brain- was lost along the way. It’s the year, and also enjoy
Tree Café, Edible child of Ritesh Tilani not just about delivering a a notification service for
Arrangements, Godiva and Alper Celen, joi is a package. It’s about making special days with suggested
and Magnolia Bakery. web and mobile gifting the person feel truly special.” gift ideas. There’s also the
platform offering a variety joi offers its users an intui- automated and intelligent
of more than 1,000 refined tive interface that lets them joi Assistant, which recom-
selections. The entrepre- focus solely on selecting the mends gifts based on the
neurial duo built joi after right gift, either from their recipient’s characteristics
noticing a lack of reliable gift desktops or their mobiles, and preferences.
platforms in the region- they and in case any help is On top of all of the above
sought quality and curated needed, one of joi’s Angels features is the startup’s
product selections, packaged (i.e. the company’s customer dedication to offering qual-
as a one-stop shop covering care representatives) are on ity customer satisfaction,
everything from flowers to hand via live chat or phone which, Tilani says, is one
cakes, with reasonable prices to assist with selection. of joi’s core USPs. Ensuring
and guaranteed same-day The platform offers curated their portfolio has a special
delivery, done in “a present- products from flower ar- touch of “joi” in all aspects,
able way that made the rangements, eateries, gift their customer care is
recipient truly feel special.” baskets, novelty gifts like ensured by joi’s Angels, and
And it is this idea that drives personalized jewelry and gifts are hand-delivered by
their platform: “joi focuses grooming products, and Agents of joi in concierge-
on the sentiment behind experience-based packages, style uniforms for recipients
it took longer as they had Gifts are hand-delivered by Agents of joi in concierge-style uniforms
T
he workplace is the groups: Firelight, which iden- wellbeing as well as balancing entrepreneurs should use
initial foundation for tifies to the colors of autumn; their productive life, emo- different shades of brown and
any entrepreneur to Starlight, which identifies to tions and environment. At beige in meeting rooms, as
succeed, and with the colors of winter; Morn- this stage, it is imperative to these hues help create an am-
that being the case, inglight, which identifies identify the right placement biance of calmness, reliability
one must take extra to the colors of spring; and for your work interiors. In and security, while subcon-
care when designing the same Dreamlight, which identifies order to create an environ- sciously building trust.
for one’s business. An impor- to the colors of summer. It ment where you feel calm It is most definitely a big
tant decision to be made in is advisable to hold a color and stable, it is advisable to risk to start your own busi-
this process is choosing the consultation in order to de- position your back to a solid ness concept, however being
right colors for your sur- termine the right color group wall or item to position a determined and positive
roundings at work- after all, that applies to you. You will force of stability behind you. throughout the process will
with color psychology becom- be given a color kit to help It is also advised to refrain help you strengthen your
ing increasingly prevalent, it guide you towards the correct from positioning your desk enterprise, and take it to the
has been proved that being color palette, which will help near the door or window, as next level. Creating a positive
exposed to colors can affect influence your choices in it transfers the energy out of workspace environment is
one’s moods. As a result, terms of style and colors that the working area. crucial in having a thriving
adding the right shades of a you can then apply in any Entrepreneurs must also business, and keeping that in
certain color in the workplace working environment. identify the purpose of each mind, entrepreneurs would
can indeed help promote the Studies have shown that departmental workspace, as be wise to use the correct
creativity and productivity of 80% of our color choices are different colors impact differ- shades that match their per-
an individual that’s working subconscious, therefore we ent professions. For instance, sonality in their workspace.
for you. As the founder of The must consciously be aware of
Gracious F, a Dubai-based the affects they can have on
color consultancy business, us and our decisions, as well
here are a few of my ideas as the impact it has on our
that can help you create a clients’ and consumers’ be-
working environment that is havior. When entrepreneurs
conducive to strong business discover and surround them-
growth. selves with the correct colors
Before designing your from their palette, it will
workspace, it is important to automatically stimulate crea-
take into consideration your tivity and help them to focus
own personality and personal on important elements of
choices, and then identify their business goals. In addi-
which color group you belong tion, adding furniture pieces The Gracious F
Image courtesy The Gracious F
Feng Shui
to. There are four color with the right shades of blue
Fatima Al Shirawi is the founder of The Gracious F, a Dubai-based color consultancy business. Al Shirawi is a graduate of George Washington
University with a BA in Sociology and Marketing, and holds certifications from Polimoda Fashion School in Florence and London College of Fashion.
She is also a qualified certified color consultant by the Colour Affects Institute.
in pictures
S
ay goodbye to compareit4me- lacompare CEO Jon Richards, in a state- around the Middle East, including
and welcome yallacompare! The ment. “We honestly didn’t think ahead Saudi, we’ve been operating under
Middle East’s leading com- to international growth and expansion, the amwalak.com brand name, as it
parison site has gone in for a re- and we didn’t realize that what we’d resonated more with markets in which
brand, with the change happen- built would become as successful as it Arabic is the primary language. With
ing as the company gets set to scale up has been across the MENA region. Our yallacompare, we’re bringing everything
with an entry into Saudi Arabia. For the success outside of the UAE is what’s together under one roof, in an easy-to-
homegrown brand offering comparisons informed our decision to create a brand understand, powerful call to action. Do
on everything from personal loans and that better represents our English- and you need a financial product or insur-
flight tickets, to telecom packages and Arabic-speaking customers. Today, we ance policy? Yalla, compare!”
car insurance, the rebranding signifies compare everything from personal loans To celebrate its new identity, yalla-
the comparison site’s strategy to appeal to flight tickets; we’re the largest insur- compare threw a party at its headquar-
more strongly to its customers in the ance aggregator in the Middle East by a ters, and by the looks of it, it looks to
Middle East. considerable margin; and we’re active have been one heck of a party- here’s
“When we first started the company, in nine markets across the region. We one startup that certainly seems to
we had no idea that it would become needed an identity that better reflected believe in the “work hard, party harder”
the business that it is today,” said yal- these realities.” maxim! www.yallacompare.com
Reimagining Iraq
nessmen started to think
about how to develop other
revenue streams, meaning
Things are moving in the right direction for the country’s that money should no longer
entrepreneurial ecosystem By Marwan Ahmed be spent on oil rigs, heavy
I
machinery, etc.
Having said that, most of
most of the country’s nvestments in than their more developed the country’s money is being
money is being frontier markets peers, and have much higher circulated internally, with
circulated internally,
with some good
–which, for returns on investment when some good amounts being
amounts being the uniniti- things click. spent on shopping, whether
spent on shopping, ated, refer to With this being the case, it is on smartphones, par-
whether it is on markets around Iraq is today considered a cels, car accessories, and,
smartphones, parcels,
the world that frontier market -and even of course, the big one: food.
car accessories, and,
of course, the big one: are beginning an untapped market- when Iraqis tend to spend most
food. to develop and it comes to investing in tech of their money internally,
have yet to become com- startups. Iraq has one of the due to the decades of living
pletely stable- are not new most youthful populations in isolation from the world
in the global scene. There in the world, with the UN since the 1990 economic em-
has been a great increase in noting that about 60% of its bargo. Two generations grew
the amount of investments 2015 estimate of 37 million up without being exposed
in this space over the past people are under the age of to the culture of vacationing
6-7 years- for instance, 25. At the same time, the outside the country. In ad-
in the US, investments in unemployment rate in 2016 dition, Iraqi youths are not
these markets are now four was 16%, up from nearly well-versed travelers when
times the size of internal 15.5% in 2015, and 14.9% in compared to their counter-
investments made there, 2014, according to the World parts in Turkey, Iran, and
in comparison to 2010, Bank. Internet penetration the GCC, because of the
when both of the invest- in Baghdad is at a record difficulties in obtaining
ments gauge were on equal level, with data plans being foreign entry visas. As a
footing. The reason for this more and more affordable, result, this massive pur-
is pretty straightforward: and smartphone penetration chasing power has been
frontier markets typically at almost 90% within the considered able to accom-
trade at cheaper valuations 17-40 age group. modate the exponential in-
Marwan Ahmed is an entrepreneurship evangelist who’s the co-founder of The Week bootcamp, and the Director of Mishwar, the only grocery
delivery startup in Baghdad.
Baghdad, Iraq
C
example, fast food chains such eral landscape of the city.
lad in a flak jacket This desire to restore normalcy, as Kentucky Fried Chicken and But people don’t seem to
and flanked by recover and rebuild is evident McDonalds, which were origi- mind because, right now, the
security guards, I re- in small pockets of affluence nally set up in the Iraqi capital main thing on the minds of
cently spent a week in across Baghdad. In Iraq’s for the U.S. and British military, most Iraqis is the hope for a
Baghdad as part of a capital, brands like Timberland, disappeared when the troops peaceful future where they
branding research pro- Mont Blanc and Ray Ban are withdrew. But their influ- can resurrect their devastated
ject. That’s what I do: starting to appear. Apple’s ence lives on in the numerous country and their families’
my U.K.-based Seven Brands iPhone 6 was a sell-out when rip-offs which have appeared future within it.
specializes in creating, design- it launched in Iraq at the begin- throughout the city. Any marketer who adds
ing, marketing, advertising and ning of 2015. Specifically, there are KFG another billboard is simply
managing international brands Why is this? Aspirational (Kentucky Family Group), Ken- adding to the general noise and
that appeal to multi-cultural brands represent hope. People tucky Chicken (complete with chaos. Yet there are small green
audiences. associate these world-famous an image of Colonel Sanders) shoots of recovery. In places
We help global businesses names with the better lives and MgDonalds outlets every- like Mansour Mall and Mado
reach the least accessible audi- they hope to build. The impli- where. Young girls carry fake café, a visitor sees glimmers of
ences in the world- like the au- cation here is that it’s up to Michael Kors handbags. There the emergence of a new city, a
dience in Iraq, where the lesson, brands to decide whether they is also a large “gray market” Baghdad filled with color, lights
it seemed to me, was that, at its should exploit this hope, or for mobile phones that includes and sparkle.
best, branding is hope. seek to live up to it. fake iPhones, in order to avoid So, if your brand wants to
Why, for example, in a place the 18% duty that the govern- stand out, don’t put up another
where the roads are pock- Opportunities exist ment puts on telecoms in Iraq. billboard. Be a part of the re-
marked from car bombs and where others fear Trademark protection? The construction story, rebuilding
the detritus of war litters the to go traditional methods will not the devastated infrastructure,
streets, would 17-year-old girls Western brands have struggled be strong in places like Iraq for and bringing beauty and order
be obsessed with Michael Kors for years to resonate with Iraqi some time. Global companies back to people’s lives. How to See this article in its entirety at Entrepreneur.com / baghdad image © shutterstock
handbags? Why do brands mat- consumers in the war-ravaged need to decide whether to do that? A brand that put in
ter in a city where practically country. In Iraq, the period expose their brands to such a street lighting (maybe branded
every resident has a personal of United Nations-imposed market. Some will choose to go with illuminated logos), or
story of tragedy? sanctions, from 1990 to 2003, ahead, knowing that the gray built (branded) bus shelters or
The director of news at Al- prevented most international market in the long run is creat- lifestyle cafes would win hearts
sumaria TV described the Iraqi companies from doing business ing demand for the real thing. much more successfully than a
mentality this way: “Twenty there. And the security situa- Others may create brands brand that simply advertised.
people will die in a car bomb, tion since the sanctions were especially for new frontier mar- This is a lesson that applies to
and everyone cleans up, and lifted has deterred many from kets in order to establish them- brands seeking entry in many
then gets on with their lives entering the market. selves without exposing their parts of the world: don’t put
within half an hour,” he said. So, the gap created has been valuable international brands to up another billboard. Instead,
“They want to live.” filled, to some degree, by an unregulated market. make the world a better place.
Jasmine Montgomery is co-founder and CEO of Seven Brands, an advertising and social media agency focused on high-growth emerging markets.
Before setting up Seven, Montgomery was managing director of FutureBrand London. As head of branding for Singapore’s largest bank, DBS, she
had firsthand experience building an international brand. Her background is in brand strategy, naming and market research, at companies such as
Interbrand, Millward Brown and Fitch. Montgomery was listed by London’s Sunday Times as one of the 35 Most Influential Women Under 35. The
American-born Montgomery, who has a magna cum laude B.A. from Harvard University, is currently writing a book on global branding.
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Envisioning
potential
Understanding the methodology that drives a VC firm’s investment approach
will better your startup’s chances of getting funded
By Saad Umerani and Hubertus Thonhauser
A
s a venture capital firm head- At first, it’s very important to understand At this moment, it’s very important to
quartered in Dubai, there are a the knowledge level, the professional leave your personal interests aside. You
couple of things that make our qualities, the level of commitment and cannot make assumptions about what
organization, Enabling Future, the dynamics of the founding team. For works or what doesn’t without putting
stand out from its peers in the industry us, the founding team is key. After all, yourself in the shoes of the customer.
here. Firstly, we are not solely focused on down the road, say, in three years’ time, Having a structured mindset is essen-
the MENA region- we are actively explor- the company will look very differently tial- we reach out to advisors or experts
ing investment opportunities in the US, from what we discuss in the first meet- from the specific industry of the startup,
Europe or Asia. 60% of our investments ing. We are data-driven investors, and as and we try to understand the challenges,
have been made in companies outside the a result, we like to see how the founders distortions, opportunities of the market
region. We are affiliated to six investors are going to stir the company forward, and the size of the addressable market.
networks in the US, Europe, Australia, and develop their strategy applying For example, one of the most success-
and MENA, and this enables us to be ex- financial metrics and KPIs. ful businesses that we invested in was
posed to different startups and advisors What we want to know and see is the Babil Games- despite not being gamers
or experts from a variety of industries, to founding team’s way of thinking and ourselves, we knew that it was a very
keep an open mind. capabilities. We want to see that the peo- interesting segment, and we understood
We are often asked what remains ple whom we are talking with have the its potential.
constant in our investment approach, or capacity to anticipate changes needed, This is thus an important part of our
what connects the startups that we in- and to implement them. Due diligence is, process: we try to understand if there
vest in, and the answer to that is we have of course, very important, but, some- is any real competition for the solution
a very strong methodology in choosing times, one meeting with an entrepreneur that the startup has designed, how big
startups that offer solutions to real life is often enough to decide if we want to is the market, and what is the long-
problems. At the moment, the partner- work with them. For example, in the first term potential. We like startups that
ship has a portfolio of 12 companies, val- few minutes of meeting Stuart Oda, the are driven, passionate, and can envision
ued in total over US$1 billion. We chose founder of Alesca Life, a startup that
these startups through a process which offers urban farming solutions, we knew
has become our own, and it’s worked re- we wanted to work with him, purely
ally well for us so far- here’s an explainer because of his knowledge and passion for
for the same. what he does.
In terms of our methodology, we have Secondly, we evaluate the startup’s
developed a structured assessment perspective on the market. Are they
process, consisting of checklists, which solving a problem, and are they the best
we adapt according to the development at solving the problem they are tackling?
stage of the startup, and which we also And do they have the potential to gain a
constantly update based on our learning. monopolistic position in their segment?
Saad Umerani and Hubertus Thonhauser are the Managing Partners of Enabling Future, a sector agnostic venture capital firm
headquartered in Dubai, UAE. Enabling Future provides seed and early-stage funding to entrepreneurs who challenge conventional
wisdom and look to create true disruption.
H
creative and imaginative, and not reject ere’s a homegrown company to have played a part in promoting
revolutionary ideas that might seem out that has a mission statement entrepreneurship in the region,” he
of the ordinary. to simplify the lives of people adds, explaining Careem’s reasons for
During the early stages of the com- in the Middle East, and it’s putting investing in Swvl.
pany, we often act as constant sparring money where its mouth is: ride- Founded in March 2017 by Kandil
partners to the entrepreneur, while also hailing app Careem has announced an and co-founders Mahmoud Nouh
being facilitators to their growth through investment of US$500,000 in Egypt’s and Ahmed Sabbah, Swvl aims to fill
our international network. At the same homegrown bus transportation the gaps in “affordable, reliable and
time, our role changes once the company startup Swvl. The company, which convenient” public transportation in
reaches later stages with new lead inves- aims to reinvent the daily commute of Egypt and other emerging markets.
tors joining. For instance, in the case of Egyptians by enabling riders heading The app users simply need to enter
Babil Games, Hubertus was involved in a in the same direction during morning their exact pick-up and drop-off
double role, as investor and co-founder, and evening commutes to share a location to reserve a spot, and can
being involved in all corporate matters, ride in a van or bus, was founded by also track bus/van location on the
until the negotiation terms of the exit. Mostafa Kandil, a former member of app. Currently accepting payments
In post-Series B companies like Thrive the Careem team. A Reuters report via credit card, the company says
Market, with valuations north of $500 notes that Swvl is not an on-demand it plans to “roll out four additional
million, we became passive investors, service like Careem or Uber, but a bus payment options over the next few
although still maintaining a healthy transportation service where pas- months including wallets, cash on
relation with the founders and some lead sengers can reserve and pay their fare delivery and more.” Swvl co-founder
investors. through the company’s mobile app. and Chief Hustler Kandil believes that
One thing we really care about is the As per a statement on the seed Careem’s investment will enable them
way Enabling Future operates after the funding, Swvl proposes to utilize to re-model Egypt’s mass transporta-
investment has been made. We want the investment to “expand into new tion system, and hopes to gain from
founders to know we are one phone call cities and markets, as well as roll out Careem’s vast local knowledge built
away, and that they are not in this by new product features within its app, over the years.
themselves. Founders usually tend to get including new payment options.” With Just earlier in June, Careem an-
lonely in hard times, and these are the this investment, Careem’s co-founder nounced the second close of its Series
times they need to talk to their investors and Chief Experience Officer Magnus E funding round raising US$150
and regain their confidence. That is the Olsson also joins the Swvl’s Board. million, and thereby cemented its
most exciting part, being supportive and “Swvl and Careem share a similar position as the Middle East region’s
watching the startup transform and grow. mission in that we both wish to solve homegrown unicorn (or unicamel, as
The best thing a VC firm can do is be the transportation challenges facing the company refers to itself). This ac-
good to the founders of the startups they the MENASA region,” Olsson says quisition of a minority stake in Swvl is
are investing in. We are very supportive, in the statement. “Our investment not Careem’s only initiative to develop
we make connections, we give advice, in the company is a clear bet on the public transportation systems in the
and we are there if they need us. value we believe Swvl will bring to the region. In 2016, the startup partnered
As for the road ahead, we have a flexible Egyptian people, and further fulfills with NEXT Future Transportation to
structure that allows us to take the best our promise to be a source of inspira- bring driverless transportation solu-
of both worlds, angel and VC invest- tion to local startups. We’re also proud tions to the MENASA region.
ments. One of the key things we think
about while investing in startups outside
the region is that we can plan a stra-
tegic role in bridging the gap for these
companies to the Middle East. We like to
discover companies such as OfficeRock,
and see their potential and relevance
for the Middle East market, and then
support their growth. We don’t have a
specific mandate; we can do the deals
we want to do. We are going to continue
looking for teams who are driven by pas-
sion, empowering startups that aim to
solve problems. By doing this, we want to
build our credibility, as well as a success-
http://swvl.io
Re - Imagining
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Shedul.com
co-founders
William Zeqiri and
Nick Miller
A
ccording to PayFort’s is co-founded by CEO Islam develops white-labeled they have a distinct perspec-
State of Payments Shawky, COO Alain El-Hajj, mobile wallet products for tive to the problems from all
2016 report, 42% of and CTO Mostafa Menessy. mobile network operators angles, thus making it easier
Egyptian consumers shop Given Egypt’s reliance on and banks. He adds that the to offer solutions to improve
online, yet 91% of Egyptian cash, El-Hajj says that its mobile wallet solutions that the experiences of both end
shoppers still use cash on economy is at risk to lose they provide allow for inter- consumers and merchants.
delivery as a payment op- money through cash-based operability- meaning, “a user Founded in 2013, the
tion. It’s not surprising, as fraud, theft, costly insurance, from one wallet provider can co-founders were originally
the country predominantly as well as from the time- engage with users from other working on a social e-com-
has cash-driven businesses, consuming task of counting providers.” On the accept- merce project, and pivoted
with Harvard Business and reconciling cash bal- ance side, PayMob enables when they realized that being
Review citing that only 10% ances- and digital payments merchants to accept pay- in a cash-dominant market
have access to a bank ac- can definitely help reduce ments from their customers will hinder the growth of e-
count, and 94% of financial this kind of waste. Shawky using various payment chan- commerce ventures. Boot-
transactions are conducted also points out that the focus
in cash. In a cash-dominated on cash excludes people
society, financial inclusion from the financial system
is essential for individuals, and its benefits, and PayMob
enterprises, and economies can help turn that around,
alike to prevent hurdles to saying, “We’re working on
progress- and this is the empowering the masses
opportunity that PayMob is with tools to perform digital
trying to tackle. The startup transactions, and get access
is an electronics payments to financial services using
solutions provider converting their mobile phones.” The
cash payments to electronic, startup provides solutions
using existing payment chan- for both sides of payment,
nels such as credit card, mo- issuance and acceptance.
bile wallet and cash. Based Menessy explains that from Alain El-Hajj, co-founder and COO, Islam Shawky, co-founder and CEO, Mostafa Menessy,
in Egypt, the fintech startup the issuance side, PayMob co-founder and CTO
actions. Though it took time, with their to perform all financial services. We wallets, so the puzzle is almost
early mentors’ support, coupled with want to make sending a payment as complete.”
their persistence and commitment, the easy as sending an SMS or a Whatsapp
team built and grew their partnerships. message.”
B
qiri, explaining the startup’s
“We are a global e it to get a ride to scription-free platform.” The aggressive user acquisition
business with most work, or to indulge cloud-based software is acces- strategy while keeping an eye
users internationally, our food cravings, sible via an internet connec- on revenue.
and we just happen technology seems to tion on any device, with most
to start the business “Our technology is helping
be propelling most users found to be accessing
in Dubai… Our story is businesses optimize their
that we are serving aspects of our lives today, the platform on their mobiles.
schedule with real-time
the globe out of Dubai, and so, it shouldn’t come Besides taking the hassle out online availability, and in some
rather than targeting as a surprise that this kind of operations management for cases, it has increased user
the local market.” of disruption is hitting the salons by automating key pro- revenue more than 30%.”
beauty and wellness indus- cesses such as appointment
tries too. Consider Shedul, bookings, customer records, It’s also this growth (which
a booking and scheduling inventory, financial reporting the founders consider “almost
platform for salons, spas, and and other tasks, this platform entirely organic through
other wellness businesses, is also addressing a key chal- word-of-mouth”) that helped
the brainchild of entrepre- lenge for the industry- that the startup close a US$6 mil-
neurs William Zeqiri and of resource utilization. “The lion round of Series A financ-
Nick Miller. “We did some main pain point is the inef- ing, backed by both MENA
research and found out that ficient utilization of appoint- and Silicon Valley investors in
the majority of businesses in ment schedules, which is June 2017. Led by Middle East
the beauty industry operate causing low occupancy rates Venture Partners (MEVP),
offline, without any software for businesses and loss of and backed by Dubai’s BECO
at all. 52% of salons in the US revenue,” says co-founder and Capital and San Francisco-
still manage their bookings COO Miller. “Our technology based Lumia Capital (a VC
with pen and paper,” says co- is helping businesses optimize firm that backs the Middle
founder and CEO Zeqiri. their schedule with real-time East ride-hailing app Careem,
Looking to change that, online availability, and in among many other startups),
in 2015, the duo launched some cases, it has increased the new round of funding also
Shedul, which Zeqiri declares user revenue more than follows an earlier seed round
to be “the world’s first sub- 30%.” (also led by MEVP) in October
offline.”
While the company notes
that “millions of book-
support.” The founders are we love their vision and customers are happy. Once
also grateful for the vo- ambition. Will and Nick are they have achieved scale and
cal backing they get from looking to build something high retention, they will be able
their partners, which, they truly transformational that to monetize through various
believe, has a key role to play will disrupt the spa industry business models. They already
in their software becom-
T
he word “innovation” that we call innovation come innovate. When employees consider the monetary value
is thrown around so from? Some companies are feel ignored, they may think of every idea we receive and
much in business that turning to “innovation con- that innovation is futile, but ensure that we have enough
at times it seems like sultancies,” paying millions when they feel listened to, budget to turn it into a real-
just a buzzword- a of dirhams for third-party they speak up. Employees ity, and share the returns. The
canned excuse to consultants to tell them how responsible for the workplace employee, the supervisor and
change how things are done. to improve their processes have an in-depth knowledge the department representa-
The word has become so and products. of their jobs, and this enables tive all benefit monetarily,
overused, that it’s easy to lose Yet, that kind of investment them to generate ideas that sharing a percentage of the
sight of the value of genu- begs the question: “Why are are incremental and foster savings from the implementa-
ine innovation to business we looking outside the busi- a work environment which tion of their idea.
strategy. ness when our employees sit makes jobs easier and safer to
Today’s businesses operate closest to our problems?” do. Incremental innovation or 3. Celebrate success
in a complex environment. When we outsource idea improvements are imperative together Celebrating
Climate change, skills gaps in generation, we are adding as they add and sustain value employees’ innovation is an-
the labor force, and the need to our expenses and telling to existing processes, prod- other simple but enormously
to maintain healthy mar- our employees that they’re ucts and services. In the long impactful way to endorse
gins in the face of financial not paid to think. Also, is the run, such innovation plays an the scheme and gain loyalty
pressures are just some of final product really our own important role in maintaining and buy-in. Be it an internal
the challenges that we face. innovation? Such a scenario the organization’s competitive awards event where you rec-
Innovation, when correctly stifles innovation within an position in the market. ognize employees in front of
implemented, can add value organization. In other words, step away their peers or a nation-wide
to existing strategies and en- An employee-based pro- from the suggestion box and competition, you will stand to
able targets to be met. gram that is equitable and provide a forum to employees motivate your internal inno-
The impetus towards in- has built-in incentives can that puts them in charge. At vators and develop a reputa-
novation is especially strong generate both innovation and EGA, supervisors directly tion as a company carried by
in the UAE. Innovation is a engagement. It promotes true assess, scrutinize and provide its people.
central pillar in the delivery grassroots innovation from feedback on an idea. This No matter what route you
of UAE Vision 2021 and the within the organization. means that on any given take, no one can know the
government’s plan to shift to The impact of a well-run day, employees can discuss business better than the peo-
a knowledge-based economy. suggestion scheme is some- directly with their managers ple who live and breathe the
There is a clear recognition thing that we at Emirates and entrust them with their operations every day. When
from businesses that genuine Global Aluminium (EGA) ideas in a safe space. On top we empower them to share
innovation has the capacity know firsthand. EGA has had of that, we have also found their feedback and make sug-
to give us an advantage in a suggestion scheme since that transparent processes gestions, we give them a stake
the marketplace. But where 1981. Just since 1999, it has with categories and criteria in the future and accelerate
do the earth-shaking ideas generated over 220,000 reassures our employees that our mutual success.
Salman Dawood Abdulla has served as Executive Vice President, EHSSQ and Business Transformation at Emirates Global Aluminium (EGA) since
2016, and has a wealth of experience designing, building, operating and maintaining large industrial plants. Since joining DUBAL (which merged
with Emirates Aluminium (EMAL) to form EGA), in 1984 as an engineering apprentice, he was promoted through the ranks to a number of senior
positions, including General Manager of Power & Desalination at DUBAL, Chief Operations Officer and Vice President of Operations at EMAL, and
then Senior Vice President of Al Taweelah Operations, before being promoted to his current role.