Entrepreneur Middle East October 2023 | Gamechangers

MAKING WAVES/ Insider co-founder and CEO Hande Çilingir P.30

GAMECHANGERS GAMECHANGERS

Abdullah Al-Otaibi, Abdullah Al-Ansari, Abdulrahman Alkharafi CO-FOUNDERS, ZAD P.24

Experience the

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Nestled by the coast of Lusail sits the splendor of Raffles and Fairmont Doha, where luxury is rooted in even the smallest details. Open the doors to mesmerizing hospitality and make memories in a world of sophistication.

Contents /October 2023

FEATURES

P.24

Gamechangers

Meet the Kuwaiti entrepreneurs leading a new wave of fintech innovation in the GCC.

P.30

Making Waves

Insider co-founder and CEO Hande Çilingir explains what it means to work with a “zero optionality” mindset.

P.36

Envisioning The Future

Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, the real estate development arm of the MAG Group Holding, dreams to reshape the UAE’s real estate market.

← Hande Çilingir, the Turkish co-founder and CEO of Insider P.30

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↑ Amadou Daffe is the co-founder of Ethiopiaheadquartered global talent marketplace Gebeya. P.15

‘TREPONOMICS

47 How To Ruin Your Brand

Sarah Trad, co-founder of Closed Captions Communications, lists what you should not do with your business.

52 A Time Of Hope

London Business School’s Jane Khedair shares her views on the challenges of change in the MENA business landscape.

50 The Instant Startup

Tripler founder Sam Singh reveals a way to build a unicorn in 1,000 days

54 Bolstering Outreach

Heriot-Watt University Dubai’s Claire Roper-Browning on how leaders in education can use digital marketing to boost student recruitment.

15 Beyond Boundaries

Amadou Daffe, co-founder of Ethiopia-headquartered global talent marketplace Gebeya, is expanding his enterprise into Dubai with a renewed sense of purpose.

20 Bridging Gaps

By connecting mental health providers in the UAE, Mindforce is seeking to create a more cohesive ecosystem for patients.

STARTUP SPOTLIGHT

71 A New Point Of View

Emirati entrepreneur Abdulla Al Kamda is hoping to revamp the customer rewards model with the launch of his UAE-based cash back platform, Homie.

EDITOR IN CHIEF Aby Sam Thomas aby@bncpublishing.net

CEO Wissam Younane wissam@bncpublishing.net

DIRECTOR Rabih Najm rabih@bncpublishing.net

ART DIRECTOR Simona El Khoury

MANAGING EDITOR Tamara Pupic tamara@bncpublishing.net

FEATURES WRITER Aalia Mehreen Ahmed aalia@bncpublishing.net

DIGITAL SOLUTIONS DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net

HEAD OF INNOVATION

Sarah Saddouk sarah@bncpublishing.net

GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa jo@bncpublishing.net

COLUMNIST Tamara Clarke

CONTRIBUTING WRITERS

Fida Chaaban, Devina Divecha, Jane Khedair, Claire Roper-Browning, Sam Singh, Mita Srinivasan, Sarah Trad

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CRACKING THE CODE

A three-point-guide on how to get from pitch to page

your company, and you’re hoping some media attention will help it get customers? Or, is it because you’re starting a new fundraising round, and you hope that investors who read Entrepreneur will look at you more kindly when you go looking for their support? Make sure you’re clear about your why, and that you can articulate it to whoever might ask.

2/ What are you bringing to the table? Okay, now, it’s time for you to make us care. You see, we get a lot -a lot- of pitches, and so, it’d also take a lot for us to drop everything else to consider yours. Of course, the easy way to do this would be to make use of the paid media options we offer; the tougher route to take would be to make your story actually stand out. Think (and research) long and hard before you use hyperbole or falsehoods to describe what you bring to the table. Also, is there something timely about your pitch that should cause us to sit up and take notice now? And what are you telling me that no one else has already reported or talked about so far?

Here’s a question that has been levied at me multiple times, in a multitude of versions: “How do I get featured in Entrepreneur Middle East?”

From respectfully worded emails that I appreciate, to boorish voice notes that I abhor, this query -in all of its variations- has been addressed to me more times than I can count. As such, here’s my generalized three-point toolkit that might help you earn the spotlight you think you/your company deserves, not just from us at Entrepreneur, but, I’d dare say, from just about any media outlet out there:

1/ Start with why I don’t mean to get all Simon Sinek here; however, this is a fundamental question that you must ask yourself before looking for coverage in the media- and, no, your answer cannot be that you’re just looking for coverage in the media. Is it because you’ve just launched

3/ It’s not all about you… but it’s also all about you Let’s assume for a moment that you’ve got your pitch right- but you have to still remember that you’re probably still just one of many -and I mean many- good pitches on our plate. The sad truth is that there aren’t enough of us journalists to do all of these interviews, and so, sometimes, we have to say no, or just pass, simply because we don’t have the bandwidth to spare. But that doesn’t mean you have to call it quits- try another time, or another angle. Or perhaps, instead of an interview, you can ask about topics we might be looking for commentary on.

Of course, nothing is guaranteed even then- but do not discount the importance of persistence. You are, after all, pitching to be in Entrepreneur- so, showcase the never-saydie spirit that’s representative of the brand! You’d be surprised at how far sheer doggedness can get you.

Aby Sam Thomas Editor in Chief @thisisaby aby@bncpublishing.net

Beyond Boundaries

Since 2016, Ethiopia-headquartered Gebeya has been connecting African tech talent to the global gig economy- now, it is making its way to Dubai with a renewed sense of purpose.

by AALIA MEHREEN AHMED

← Amadou Daffe is the co-founder of Ethiopiaheadquartered global talent marketplace Gebeya.

The big idea

With cities like Cape Town, Nairobi, Lagos, Accra, Cairo, Dakar, and Addis Ababa full of rising tech stars, how was it that the second-largest continent on Earth remained overlooked?”

According to Amadou Daffe, this was the conundrum that befuddled him in 2016 and led him to co-found Gebeya, an Ethiopia-headquartered global talent marketplace solely focused on African tech professionals. “The initial spark for Gebeya thus came from seeing Africa’s enormous tech talent pool contrasted with the high global demand for skills,” Daffe recalls. “When my co-founder Hiruy Amanuel and I first started Gebeya, our focus was primarily on building capacity through upskilling, as many software developers as possible in Africa. Since then, we have worked with the likes of Microsoft, Safaricom, Amazon Web Services, and more to develop and implement upskilling programs, thereby empowering thousands of developers across Africa.”

} Perhaps one of the most large-scale projects that Gebeya has undertaken with the aforementioned tech giants is the one with Microsoft. Indeed, in June 2020, through an agreement signed wit the US-headquartered multinational technology corporation, Gebeya launched an initiative to upskill 300,000

software developers across 10 African countries.

“Gebeya eventually evolved into a software as a service (SaaS) marketplace aiming to accelerate the gig economy for Africans everywhere,” Daffe continues. “Today, Gebeya is a global platform connecting highly skilled tech talents from Africa directly with opportunities worldwide. Over the past seven years, the company has grown to become deployed in over 30 African countries, and yes, we’ve had a lot of success. This year we even signed a US$48 million partnership with Mastercard Foundation to launch a social impact project called Mesirat. The program aims to create one million job opportunities for gig workers in Ethiopia over the next five years, offering resources and support to 100 creative business owners.”

} With teams also based in Kenya, Senegal, and the US, Gebeya has thus been able to cement its position as a SaaS-enabled pan-African talent marketplace. But Daffe’s pursuits in creating an equitable ecosystem for African tech entrepreneurs didn’t end there. Eventually, his efforts to go beyond

Africa found favor in the UAE- Dubai, to be more specific, having found support from the Dubai Chamber of Commerce, a non-profit government entity that supports businesses based in the Emirate. And it was a decision that Daffe says felt like a natural extension of Gebeya’s underlying vision. “We now have three goals

with our entry into Dubai with support from the Dubai Chamber of Commerce,” Daffe declares.

“Firstly, our goal is to build a strong talent pool specifically addressing the UAE’s needs, and build pipelines to bring in skilled tech professionals from countries all over Africa. Secondly, in parallel, we aim to forge strategic partner-

↑ With a proven track record of connecting top African tech talent with global opportunities, Gebeya Dubai aims to address Dubai's growing demand for skilled tech professionals.

ships with those who equally have the future of the tech ecosystem in mind. Thirdly, we aim to contribute to the growth of the UAE’s tech sector, and support both innovation and entrepreneurship initiatives.”

} With the company set to officially launch in the Emirate in December 2023, Daffe unequivocally decided that the platform needed a region-specific identity: namely, Gebeya Dubai. “We created a new domain, dubai. gebeya.com, which distinctly separates itself from the main gebeya.com,” Daffe explains. “It is thus a centralized platform safeguarding African immigrant workers, and provides vetted talents to Dubai employers. We want to provide a tailored solution to the UAE’s tech ecosystem, since thousands of skilled African immigrants enter Dubai looking for a better life for themselves and their families every year.”

In a world where virtual hiring has become something of a norm, and online talent hiring options are plenty, Gebeya Dubai sets itself apart with the promise of solely offering African tech talents that are vetted for. “A major advantage we offer employers is pre-screening and pre-vetting talent,” Daffe adds. “By handling skills assessments upfront, we save companies considerable time and resources in the hiring process. Once candidates are vetted and added to our Dubai.gebeya.com talent pool, we use advanced artificial intelligence (AI) matching algorithms to connect companies with candidates with the right skills and expertise. Moreover, our matching process is primarily demand-driven. Our intention is to very carefully analyze and understand the demand from Dubai-based companies, to tailor our recruitment of tech talent in Gebeya Dubai based on this.”

} Now, the confidence in Daffe’s claims stems from how Gebeya Dubai strives to leave no detail out in its screening process. “Our candidate selection process is a rigorous, multi-step process, and designed to ensure that we present the best talent to our clients,” the co-founder says. “Candidates go through multiple stages of screening and assessment. We consider factors like educational background, work experience, language proficiency, soft skills, and other capabilities. Our screening process includes technical assessments conducted by experienced tech professionals before joining our talent marketplace. Once confirmed, we ensure the candidate is a strong match for the employer’s needs.”

} But perhaps Gebeya Dubai’s strongest differentiating factor lies in Daffe’s admission that his team are incredibly well versed in

the space they work in. “Yes, we leverage an entire continent’s pool of thoroughly vetted tech talents, but we also have a much better understanding of African talent than any other platform in the UAE,” the co-founder says. “We are for Africans, run by Africans. We are here to serve and give African tech talent a competitive chance, whereas other matching platforms and job boards cater to a global talent pool.”

} At this point, if you find yourself dubious about the scope of the talent being discussed here, then it is perhaps important to first gain some perspective. For starters, a study by US-based independent research organization The Brookings Institution notes that between 2020 and 2021 alone, the number of

GEBEYA IS A GLOBAL PLATFORM CONNECTING HIGHLY SKILLED TECH TALENTS FROM AFRICA DIRECTLY WITH OPPORTUNITIES WORLDWIDE.

The big idea

professional developers in Africa rose by 3.8% - the same study also notes that despite this growth, “global companies have not yet taken full advantage of finding tech employees from Africa.” In another study by global consulting firm Boston Consulting Group, it is said that the rate of internet penetration in Sub-Saharan Africa has grown tenfold since 2010 -a rate that is three times that of global expansionwhich promises steady growth for the continent’s digital and technology sectors. Now, take all of this information in the context of the global tech talent shortage- an ongoing crisis that has continued as an aftermath of sorts of The Great Resignation, but has also been majorly exacerbated by mass tech layoffs. A March 2023 report by US-based technological research and consulting firm Gartner highlights that “current demand for tech talent greatly outstrips supply.” In September 2023, MIT Technology Review Insights revealed that in its poll of global tech leaders, 64% of respondents said candidates for their information technology (IT) and other tech jobs lacked necessary skills or experience, with another 56% citing an overall shortage of tech candidates as a concern.

WE WANT TO PROVIDE A TAILORED SOLUTION TO THE UAE’S TECH ECOSYSTEM, SINCE THOUSANDS OF SKILLED AFRICAN IMMIGRANTS ENTER DUBAI LOOKING FOR A BETTER LIFE FOR THEMSELVES AND THEIR FAMILIES EVERY YEAR.

} With the UAE also being affected by this shortage of technically skilled professionals, Gebeya Dubai’s launch seems timely. “With its rapidly growing economy, Dubai’s booming tech sector faces a persistent talent gap, and as the demand for specialized tech skills surges, companies grapple with sourcing top-tier talent,” Daffe says. “However, at Gebeya Dubai, we have noticed and been incredibly impressed with the Government of Dubai’s ambitious D33 Economic Agenda [a series of 100 projects and initiatives by the UAE government that will work towards doubling the size of Dubai’s economy over the next decade]. Therefore, by aligning with D33, we aim to accelerate meeting that skills gap. It

is important for Dubai to not only ensure they fill the in-demand jobs of today, but also attract the skills and business talent to create the jobs of tomorrow. We’re creating new possibilities for African talent in Dubai’s tech ecosystem. For UAE employers, we expand access to qualified talent to enable growth.”

} Gebeya Dubai’s commitment to fostering and supporting African tech talent, however, has been taken a notch further with the addition of what Daffe refers to as “a safety net.” “With our expansion, we understood that empowerment goes beyond just connecting African talent with opportunities; it involves providing a holistic support system

that ensures our talents thrive in every aspect,” he continues. “This means addressing the unique needs of immigrants in the UAE, supporting them with immigration and law services, helping them with things like opening up a bank account, health coverage, and so much more. This, I believe, is our most unique value proposition that sets us apart from other job matching platforms in Dubai.”

}But amid matching the right African tech talents to the right companies in the UAE, Gebeya Dubai has also managed to stay true to the quintessential Gebeya roots: upskilling and development of tech entrepreneurs. “Obviously access to a talent pool of

→ Gebeya Dubai will aim to act as a driving force to Dubai's economic growth goals and bolster the region’s standing on the world stage in the global race for tech talent

skilled tech professionals, including software developers, designers, project managers, can help entrepreneurs, but we will also be offering training programs and mentorship opportunities to help entrepreneurs enhance their skills and knowledge,” Daffe says. “Gebeya Dubai will also provide support in project management, product development, quality assurance, and business development. And finally, the platform will provide exposure to international markets and clients, allowing African tech entrepreneurs to expand their customer base and

tap into opportunities beyond their local market.”

}Daffe hopes that the ripple effect of incorporating this entrepreneurial community-building efforts in the UAE will prove to be beneficial to the country’s ties with Africa. “We aim to facilitate the exchange of talent, knowledge, and innovation between these regions,” Daffe says. “Yes, we have big dreams for dubai.gebeya.com- but, we also recognize the power of collaboration! We believe that together, we would harness the collective power of Africa and Dubai to redefine what is possible in technology and beyond.

Our goal is to strengthen these ties, becoming the catalyst for a profound improvement in UAEAfrica relations.”

As Gebeya Dubai’s launch lingers just around the corner, Daffe declares that the regional branch’s opening is set to facilitate a major end-result for Gebeya as a whole. “As Gebeya continues to flourish, our vision extends towards an ambitious horizon: attaining unicorn status,” Daffe reveals. “We are proud of our growth trajectory because it is marked by the empowerment of thousands of talented individuals and the facilitation of countless tech-driven projects. Now, by establishing our presence in Dubai, we aim to create a hub for the growing number of African entrepreneurs, and skilled talent, to positively play a role in Dubai’s innovation sphere.”

WE ARE FOR AFRICANS, RUN BY AFRICANS. WE ARE HERE TO SERVE AND GIVE AFRICAN TECH TALENT A COMPETITIVE CHANCE, WHEREAS OTHER MATCHING PLATFORMS AND JOB BOARDS CATER TO A GLOBAL TALENT POOL.

↑ dubai.gebeya.com, distinctly separate from the main gebeya.com, will be a centralized platform safeguarding African immigrant workers, and providing vetted talents to UAE employers.

Bridging Gaps

By connecting mental health providers in the UAE, Mindforce is seeking to create a more cohesive ecosystem for patients by AALIA MEHREEN AHMED

It doesn’t take too keen an observation to realize that the conversations surrounding mental health in the UAE -particularly within the business landscape- have taken a positive turn. And if you assume such a shift is a natural consequence of the post-pandemic world, then think again. In June 2019, much before the COVID-19 crisis would steer the mental health discourse to a whole new plane, the UAE government had introduced the National Wellbeing Strategy 2031, which aimed to introduce initiatives that improve the physical and mental health of the country’s residents. But beyond achieving increased awareness about mental health, the UAE has another roadblock to clear: a fragmented industry. And that is where UAE-based mental health entity MindForce enters the picture.

}“MindForce originally started by helping individuals with mental health problems, particularly helping people with issues such as addiction and marriage problems,” Simon Walker, co-founder and Managing Director of MindForce, says. “But I quickly realized that it was a much bigger issue than that. I saw MindForce being a glue in the mental health arena, wherein we can join up people in mental health service provision, psychiatrists, insurers, as well as the media. This is precisely what is needed right now: for stakeholders to join up and talk to each other, but also specifically be able to help patients in the UAE.” According to Walker, a disconnected mental health ecosystem can be equally as dangerous as a society that isn’t aware about mental illnesses. “Unfortunately, nobody [within the industry] knows who’s doing what,” Walker laments. “Entities are competing with each other, and there’s no cohesion. All of this ultimately sends a very mixed message to the end patients. I think it’s very confusing for anyone who comes needing help and so therefore, I think there’s significant value in matching an individual to the right support.”

}MindForce works across two verticals: individual support, which helps people get the right advice, medication and support in a cost-effective way, and workplace support, which is catered specifically towards work-induced

← Simon Walker, co-founder and Managing Director, MindForce

mental health issues. To achieve this, first and foremost, MindForce has partnered with a number of UAE-based medical entities including Al Amal Psychiatric Hospital, Saudi German Hospital, Reverse Psychology (a mental health clinic that offers psychological support), and Aspris (a health and wellbeing center).

“We also have a partnership with a mental health clinic called LifeWorks in Al Wasl, Dubai,” Walker adds. “MindForce has connections with a number of providersfrom holistic health centers,

with a particular issue, we’re much more informed to point them in the right direction. It is a very connected relationship, which enables the mental health providers to open their doors to people much more quickly.”

}Built as a not-for-profit enterprise, Walker reveals that he spends money out of his pocket to keep MindForce running as he is yet to find funding partners for his enterprise. But to understand what keeps Walker forging ahead, it is perhaps

background in the legal field didn’t deter him from eventually entering a space that he had long been personally interested in.

“25 years ago, when I was still in London, I myself suffered from a period of depression,” Walker recalls. “I went to my psychiatrist, who suggested I go on medicine, but I firmly refused to do so. At that point, he said, ‘Well, if I told you that 70% of my patients in the city of London are on medicine, would that help you?’ And I thought to myself that this really is

to hospitals and psychiatrists. In fact, there are seven or eight psychiatry clinics that MindForce is connected with. Each one, however, has its own particular skill set, its own mix, and its own cultural components,which can take a patient quite a long time to understand and choose from. But because the MindForce team understands all of the players in the field, when people come

important to first take a look at his unconventional journey towards becoming a part of the mental health ecosystem. Having been a former solicitor in England as well as Hong Kong, and a registered foreign lawyer at the Dubai International Financial Centre (DIFC), Walker is the Founding Partner and Chairman of UAE-based law firm Skyewalker Law. But a

quite a prevailing problem. Then, unfortunately in my history, my father took his own life 15 years ago, which reinstilled my particular strong interest in -and I think understanding of- the broader mental health arena. Finally, 18 months ago, with MindForce, I felt it was time to make my mark in the world of mental health, and see if I could make a change. My law firm, Skyewalker Law, was going quite well, and so I decided that I was actually going to do this, and try to make a difference.”

}Having thus started on MindForce, Walker has also gone on to find allies in his pursuit. Acting as stalwarts of the MindForce movement are two formidable names from the UAE government: the Dubai Police, and Dubai Health Authority (DHA). “I

had the benefit of being supported by the Dubai Police and the DHA, which meant that I wasn’t seen as just some guy talking on LinkedIn,” Walker says. “And so, there was a chance to actually make a change in the environment. I felt that with their help, and my legal structured thinking, as well as having an empathetic mindset, I might be able to do something a bit different in the mental health arena.” Now, one might wonder what role the Dubai Police has in the world of mental health. After all, the government body isn’t the first name to be associated with the topic- but the truth is far from it, Walker says. “I think that the police have an ever increasing role to play,” Walker explains. “They were put in charge of dealing with people at the coalface, so to speak, in mental health. For example, it is the police that often have to deal with people who’ve had a breakdown on the streets. Moreover, the Dubai Police is an Emirati organization, and so they understand the Emirati way, but they have to look after hundreds of nationalities. With a growth in mental health issues in the UAE, they have put together a federal level taskforce, created a strategy, and also developed a health helpline. But they still value the input of different people in different interest groups to help them drive things forward altogether.”

}It is precisely the initiative shown by the Dubai Police that has proven to be a major catalyst for MindForce. “I would say that the police here, despite some of the cultural and international }}

IN MY EXPERIENCE AS AN ENTREPRENEUR MYSELF, ONE OF THE KEYWORDS IS ‘FOCUS.’ YOU HAVE TO FOCUS ON WHAT YOU’RE DOING, AND KNOW EXACTLY WHAT YOUR TARGETS ARE. YOU CAN’T THROW TOO MUCH BREAD ON THE WATER.

difficulties, have made more progress than in many arenas within mental health,” Walker adds. “I think that Dubai actually in that way almost has an opportunity to become a global leader in mental health, which is one of the things that makes me ambitious in my role.” Walker’s hopes for the Dubai, and the UAE as a whole, may seem lofty, but it comes during a “tipping point” for the country’s mental health system. A study by the World Health Organization shows that between 2017 and 2020 alone, the number of patients in the UAE seeking help for mental health problems increased at least six-fold. Moreover, a 2022 study by German market analyst Kenkou that assessed mental health provision across 50 countries, showed that for every 100,000 of UAE’s population, there are only 0.77 psychologists.

“Every culture, every country has its own particular issues, but I would say that in Dubai, there’s one key word, which is both the strongest cause, and the strongest problem, and that is loneliness,” Walker says. “One one hand, you’ve got an expatriate population without family. But on the other hand, you’ve also got people who are very driven by business success, and a social culture that can sometimes be quite superficial. And I think all of it has driven a loneliness problem now. If you look at mental health, yes, we can talk about depression, obesity, problems with family and children, and the like. But loneliness is perhaps the overarching factor, and I think also because Dubai is relatively more financially ambitious,

people feel a great pressure to appear successful… to have all of the trappings to meet the expectations of their family. But actually underneath that, there’s perhaps a slight emptiness, and I think that causes a sort of loneliness, and an isolation.”

}Now, while Walker’s observations are about the masses, there is one demographic within the UAE that almost certainly is plagued with the issue of loneliness: entrepreneurs. Plenty of global studies have highlighted that there is a mental health crisis within the startup ecosystem, with loneliness cited as one of the most commonly faced consequences of choosing the entrepreneurial life. “I would say that as an entrepreneur, you have to prioritize giving yourself time and space and peace, as much as you prioritize growing your business or billing or hiring or getting new clients!” Walker says. “In my experience as an entrepreneur myself, one of the keywords is ‘focus.’ You have to focus on

what you’re doing, and know exactly what your targets are. You can’t throw too much bread on the water. But you need to also be very determined, and focused about your own mental health and your wellbeing. On the flip side, businesses are now seeing very clearly that they can lose an awful lot of money if they don’t look after their staff. We’ve already seen what happened with ‘The Great Resignation,’ and we’re seeing what can happen when the Gen Z workforce is very disenchanted.”

}Indeed, a June 2022 study by PwC Middle East shows that untreated mental illness in the GCC results in at least 37.5 million productive working days -equivalent to US$3.5 billion- lost annually. “As a CEO, I have always understood that employee engagement, employee happiness, organizational happiness makes the business work better, and I’ve thought that for 30 years,” Walker adds. “But now, I think that is all coming to the fore. Businesses are discovering that if they don’t look after

people, and don’t offer the mental health support that they should be providing, employees are either going to go elsewhere, or are just not going to give the effort that they should. So, in a sort of slightly perverse way, the crisis that has followed on from the COVID-19 pandemic -or accelerated from the pandemic- has actually also accelerated a thought process that I’ve long thought should have been engaged with.”

}As Walker now equips himself and MindForce for the journey ahead, he reiterates that if there is any place that can champion the mental health cause -both for individuals and workplacesit is Dubai. “Dubai is a leader in so many methods of thought, and it is already leading on blockchain, metaverse, and other emerging technologies,” he says. “Now, bear in mind that an awful lot of the solutions in mental health can be technology-based. In fact, it’s proven that almost 80% of mental health issues can be dealt with by a chatbot or an artificial intelligence platform. So, if we’re at the forefront of that sort of technology in Dubai, then not only can we provide better mental health solutions, but we can also be a global thought leader in this space. If Dubai Crown Prince H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum believes the metaverse is going to be worth huge amounts of billions by 2030, when there aren’t many leaders who’ve even had the vision to even start thinking about the metaverse, then I don’t think there’s really any particular limit to what we could achieve in it.”

↑ Simon Walker, co-founder and Managing Director, MindForce

CHANGERS

Abdulrahman

Meet the Kuwaiti entrepreneurs leading a new wave of fintech innovation in the GCC

by TAMARA PUPIC

→ Abdulrahman Alkharafi, Abdullah Al-Ansari, and Abdullah Al-Otaibi, co-founders of ZAD.

Alkharafi, Abdullah Al-Ansari, and Abdullah Al-Otaibi

Co-founders, Zad

Even before the COVID-19 pandemic struck the world in 2020, the global financial industry was ripe for more democratization through digital transformation and the influx of nontraditional players to the sector. Then, the fintech sector truly boomed, because the pandemic urged retail investors to turn to digital investment and trading platforms to, in most cases, build emergency funds, or to gain additional sources of income. These days, however, we are witnessing an economic reality that is less hospitable to fintechs. The reasons are plenty, with it including a difficult macroeconomic situation, rising inflation, or interest rate hikes. Yet, the three co-founders of Kuwait-headquartered digital investment and trading platform Zad -Abdullah Al-Otaibi, Abdulrahman Alkharafi, and Abdullah Al-Ansarihave little against the ongoing economic turbulence in the world right now, because, in their opinion, it has brought a much needed market correction -and stability- to the fintech landscape.

That’s why Al-Otaibi, who is the cofounder and Executive Vice President of Zad, as well as the Deputy Head of Fintech at Kuwait-founded public shareholding company, The Securities House, says that his startup “is leading the second wave of fintech companies,” one that goes beyond the initial focus on low or zero-commission trading platforms. He adds, “We’ve recognized that today’s investors, both seasoned and novices, need more than just low fees; they require comprehensive solutions that address their financial needs, and empower them with knowledge. Our mission is to provide a holistic Shariah-compliant approach to financial services that goes beyond mere transactions, and we do this by focusing on education, a frictionless user experience, and extensive local language content.“

Now, Zad has been created by three industry veterans who share over 45 years of experience in the financial sector. Alkharafi was a leading figure in the transformation and privatization of Kuwait Stock Exchange, Alansari worked as an investment manager with the IFC World Bank Group, NBK Capital, and Credit Suisse in Kuwait, Washington, Geneva, and Dubai, while Alotaibi used to be a vital part of the institutional sales team at one of Kuwait’s largest investment banks, NBK Capital. “Few fintech startup founders in the region can boast such a comprehensive track record, especially as ex-finance professionals with extensive startup and SME scaling experience,” Alkharafi, who serves as the CEO of Zad and Head of Fintech at The Securities House, says. “This depth of knowledge makes us acutely aware of what investors need, and it equips us to successfully scale our services across multiple regions. It’s this unique blend of experience that fuels our drive to bring innovation and growth to the fintech industry.”

WE’VE RECOGNIZED THAT TODAY’S INVESTORS, BOTH SEASONED AND NOVICES, NEED MORE THAN JUST LOW FEES; THEY REQUIRE COMPREHENSIVE SOLUTIONS THAT ADDRESS THEIR FINANCIAL NEEDS, AND EMPOWER THEM WITH KNOWLEDGE.

The trio decided to enter the fintech space with an aim to use the convergence of finance and technology as a force for positive change. “We see fintech not just as a business, but as a means to enhance financial inclusion, promote ethical finance, and drive innovation in the industry,” Al-Ansari, who serves as Executive Vice President of Zad and Deputy Head of Fintech at The Securities House, explains.

“Additionally, we’ve learned that success in fintech requires a deep understanding of regulatory environments, customer needs, and emerging technologies. It demands agility and adaptability, as the landscape continues to evolve.”

Zad belongs to the crop of digital fintech platforms that make investing, trading, and and robo-advisory accessible to a broader audience; however, this particular app takes it all a step further by offering not just a transactional platform, but a full-fledged ecosystem that empowers users with knowledge, transparency, and a seamless experience. “By focusing on education, partnering with universities, and eliminating hidden fees, we’re not only shaping the future of fintech, but also democratizing access to financial opportunities for everyone,” Al-Otaibi explains. “Our commitment is to provide full value, not just on the technical aspects, but also in terms of education and support, because we believe that everyone deserves a chance to thrive in the financial markets.”

During the COVID-19 pandemic, the rise of amateur investors and traders resulted in instances of social media influencing investment decisions, as well as the increasing use of robo-advisers that would answer investment-related questions from all who lacked real knowledge in these areas. However, this new development has left novice investors and traders vulnerable to unregulated social media advice and false information. Against this backdrop, Zad puts more emphasis

on education, as well as on investor security, because all its offerings are Shariah-approved. “An important pillar is, of course, that we are a Shariah-compliant company, and not that we are just offering Shariahcompliant services,” Alkharafi notes. “It is enshrined in our founding documents, and we follow through on that in everything we do and offer.”

To date, Zad has reached a user base of more than 20,000 individuals. “One of the most exciting aspects of our journey is the double-digit growth that we’ve been experiencing every month,” Al-Ansari adds. “This sustained growth demonstrates the demand for our platform and services in the market. It’s a clear indicator that we are not only meeting, but exceeding, the needs of our users. We are enthusiastic about the future, as we continue to innovate and provide value to our users as well as introduce new products.” As such, Zad’s list of upcoming products and features include a robo advisory service that will, starting from October 2023, provide Zad users with Shariah-compliant automated, algorithm-driven investment advice, tailored to their individual financial goals and risk tolerance. “It’s a seamless way for both novice and experienced investors to access professional-grade investment strategies,” Al-Otaibi adds.

Looking further ahead, the first quarter of 2024 will see Zad launching local GCC exchanges for equity trading that will enable its users to invest in a broader range of assets, while, later in the year, the Zad team }}

→ Abdullah Al-Otaibi, Abdullah Al-Ansari, and Abdulrahman Alkharafi, co-founders of ZAD.

BY FOCUSING ON EDUCATION, PARTNERING WITH UNIVERSITIES, AND ELIMINATING HIDDEN FEES, WE’RE NOT ONLY SHAPING THE FUTURE OF FINTECH, BUT ALSO DEMOCRATIZING ACCESS TO FINANCIAL OPPORTUNITIES FOR EVERYONE.

is also set to introduce its Shariah-compliant options trading service. “This is a significant milestone, as it will provide our users with even more sophisticated investment tools while ensuring compliance with Islamic finance principles,” Alkharafi says. Al-Ansari adds, “Beyond these key launches, we have a slate of other exciting products and features in the pipeline for 2024. While we can’t reveal all the details just yet, you can expect these offerings to further enhance our user experience, broaden investment opportunities, and solidify our position as a fintech leader in our region.”

Since raising a seed round backed by The Securities House in 2021, the Zad team has been careful about choosing only the right partners to fuel its growth. “Building strong relationships with investors who align with our values and vision is paramount,” Al-Otaibi explains. “As we move forward, we remain committed to forging strategic partnerships with investors who share our passion for Shariah-compliant finance, and our dedication to creating a fintech platform that adds genuine value to our users and the broader financial community. These partnerships will continue to be instrumental as we navigate future funding rounds and pursue our global vision.”

As for the fintech ecosystem in Kuwait and the GCC region, Alkharafi believes that the sector will continue to experience robust growth and innovation. “Governments in the GCC, including Kuwait, have been actively promoting fintech as part of their economic diversification efforts,”

he says. “Initiatives such as regulatory reforms and the establishment of fintech hubs are aimed at fostering innovation in the sector. Given the prevalence of Islamic finance in the region, there was a focus on developing fintech solutions that complied with Shariah principles. This included Islamic digital banks and fintech platforms offering Shariah-compliant financial products.” Al-Ansari echoes this sentiment, stating, “The fintech sector is expected to continue its growth trajectory, driven by increasing adoption of digital financial services, investment from venture capital firms, and expanding global reach.”

TREP TALK

The co-founders of Zad share their tips for fintech entrepreneurs

}Keep an eye on the regulatory landscape “Gain a deep understanding of the regulatory environment in the regions where you operate. Compliance is crucial in fintech, so staying informed about evolving regulations, and maintaining a strong compliance framework, is vital.”

}Focus on user experience “Prioritize user experience and design. Fintech products should be intuitive, user-friendly, and address specific pain points to attract and retain customers. A seamless and pleasant user journey can set you apart in a competitive market.”

}Trust is key in this industry “Establish trust with your users by prioritizing data security and privacy. Invest in robust cybersecurity measures, and communicate your commitment to protecting customer data. Trust is a cornerstone of the fintech industry, and it’s essential for building a loyal customer base.”

WE SEE FINTECH NOT JUST AS A BUSINESS, BUT AS A MEANS TO ENHANCE FINANCIAL INCLUSION, PROMOTE ETHICAL FINANCE, AND DRIVE INNOVATION IN THE INDUSTRY.”

“

→ Hande Çilingir is the co-founder and CEO of Insider, which bills itself as “the #1 platform for individualized, crosschannel customer experiences.”

WAVES MAKING

INSIDER CO-FOUNDER AND CEO

Hande Çilingir

THE TURKISH CO-FOUNDER AND CEO OF INSIDER EXPLAINS WHAT IT MEANS TO WORK WITH A “ZERO OPTIONALITY” MINDSET

by DEVINA DIVECHA

In the dynamic and fast-paced world of marketing technology (martech), Insider co-founder and CEO Hande Çilingir means business. A trailblazer, she’s been steering her company towards a global leadership position in the martech space, with the Singapore-headquartered Insider now comprising of 26 offices across six continents, and more than 1,000 team members.

Çilingir launched Insider in 2012

after having wrapped up her first entrepreneurial endeavor, an English as a second language (ESL) school in Fethiye, Turkey, which was acquired by a fellow local educational institution. As it so happens, it was her experiences with marketing her first enterprise that informed the creation of her next. “Having successfully exited my first company, I realized that marketers worldwide were struggling

And that was the catalyst for the birth of Insider, which Çilingir launched in 2012 with co-founders Muharrem Derinkök, Mehmet Sinan Toktay, Okan Yedibela, Arda Köterin, and Serhat Soyuerel. All of them got together and established the company in Singapore with a mission to “make marketing manageable”. Insider thus offers a platform for individualized, cross-channel experiences, enabling enterprise marketers to connect customer data across channels and systems, predict their future behavior with an AI engine, and orchestrate individualized experiences to customers. The focus is thus not only on transforming marketing teams, but on accelerating business growth, identifying revenue opportunities, and enhancing customer loyalty through AI-driven solutions. “This leads to better outcomes for the brand, the consumer, and the marketer,” Çilingir adds. “From higher customer satisfaction, customer loyalty, and customer lifetime value, to revenue, market share, wallet share, and market cap, they are all positively impacted.”

to achieve their ultimate goal- deliver a seamless and individualized customer experience,” she recalls. “Instead, most brands were delivering fragmented journeys, with elements of personalization here and there, across a range of disconnected channels.” According to Çilingir, the martech stack that was meant to help marketers had gone on to become a hindrance, with bloated processes being identified as the root of the problem. “Marketers today have more data, channels, and possibilities than ever before, but they still spend 80% of their time on low-leverage, low-impact execution-level work like data entry, writing subject lines, and triggering campaigns, because they are not yet fully leveraging the potential of artificial intelligence (AI) and generative AI capabilities,” Çilingir explains. “As a result, marketers are exhausted. Entire marketing teams are inefficient, ineffective, and unproductive.”

AS A LEADER, THE ENTIRE ORGANIZATION RUNS ON THE ENERGY YOU PUT IN- SO, YOU CONSISTENTLY HAVE TO BE THE BEST, BIGGEST, AND LOUDEST ADVOCATE FOR YOUR BUSINESS.

As an entrepreneurial enterprise, Insider’s growth trajectory has been nothing short of remarkable. With more than 1,200 customers, including one-third of the Fortune Global 500, Insider has secured its position as a leader in the market in which it operates. A cursory look at the brands it supports is enough to validate this statement- it’s a list that includes Singapore Airlines, Estée Lauder, Samsung, Vodafone, Allianz, Virgin, Toyota, New Balance, GAP, L’Oreal, Santander, Pizza Hut, Nissan, AVIS, MAC, Marks & Spencer, CNN, and many more. “Insider is loved by customers and recognized by analysts worldwide,” the CEO proudly states. “We hold leadership positions in the likes of Gartner and IDC. G2,

the world’s largest and most trusted software marketplace, recently named Insider the sixth best software product in the world.” And investors have taken note of the enterprise toowith a series of funding rounds and capital injections, Insider has been able to raise a total of US$274 million since its inception. The latest of these investments happened earlier this year, with an injection of capital stated as being “up to $105 million” from Qatar Investment Authority (QIA)- the sovereign wealth fund of the State of Qatar- and Esas Private Equity. This investment came after the company’s $121 million Series D raise in March 2022, which was also when the company achieved unicorn status, making it one of the few female-led, B2B, software-as-aservice (SaaS) unicorns of the world.

The new influx of funds has been earmarked for strategic mergers and acquisitions (M&A), with it set to build on the success of Insider’s first acquisition of Turkey-headquartered conversation management company MindBehind that was announced in January. “This latest round will be used exclusively for the purpose of acquiring exceptional product companies to further complement our technology, and fuel inorganic growth through M&A,” Çilingir explains. “Our goal remains steadfast, to acquire unique organizations with industry-first technologies to better serve our customers, drive more value, and source innovative solutions to marketers’ biggest frustrations and challenges before they even arise. Acquiring impressive technology solutions will help Insider define, lead, and build the way for the future of customer experience.” This ties in well with the long-term plans Çilingir has for Insider too- in an interview with Bloomberg held at the Qatar Economic Forum in May, she had indicated plans for an initial public offering (IPO) that could materialize in 2025 or early 2026.

It becomes clear here that as much as she likes to celebrate all of her company’s extraordinary achievements, Çilingir is choosing to remain laser-focused on the future. “I am incredibly proud of every milestone, achievement, and record we have broken, but I still believe the best is yet to come,” Çilingir says. “It remains my driving force.” As such, when it comes to the future of Insider, she envisions it creating a customer experience landscape where technology and AI free marketers from low-impact tasks, allowing them to focus on delighting

customers and creating loved brands. “At Insider, this is our mission- to forever change the dialogue between brands and consumers, and make marketing feel manageable,” she declares. That said, the triumphs she has achieved in just over a decade is certainly no mean feat; however, Çilingir has no qualms in highlighting her team and their company culture as a significant factor in the success of the business. “We have a ‘zero optionality’ mindset that is, in my opinion, unique,” she explains.

“We work harder, longer, and more consistently than any other player in our space. This shared mindset is an unwritten strategy that informs our day-to-day behavior, and fosters true ownership, creativity, efficiency, and productivity. This kind of spirit and determination can only come from a company’s roots, and it trickles throughout the entire organization. As Insider’s co-founder and CEO, I strive to lead by example, and ensure that I always work hardest myself.”

This would explain why NASDAQ’s choice of an Insider team picture on screens in New York City’s Times Square to celebrate its recent investment round was a moment of pride for the CEO. “Seeing the faces of your team in lights over New York City was a special moment for me and my co-founders,” she says. “It is only through their hard work, dedication, and relentless hustle that Insider is where we are today.” People are thus clearly extremely important for Çilingir- and this includes all of the entrepreneurs, investors, and customers in the MENAT region that have given her “invaluable” lessons and mentorship all through her career. Here, she especially acknowledges the contribution of Fadi Ghandour, Executive Chairman of venture capital firm, Wamda Capital, and founder of logistics and transportation company, Aramex, who has been her mentor and friend for many years. “Fadi and I share a belief that entrepreneurial success should not be defined merely by growth and profit,” Çilingir says. “True entrepreneurs pay it forward- mentoring, investing, and inspiring the next generation of founders. In doing so, their impact is multiplied across job creation, innovation, and community transformation. Research from Endeavor highlights that it only takes a few successful entrepreneurs to jumpstart an ecosystem. I am determined to pay it forward to the next generation.”

Such an ethos would explain the efforts that Çilingir has been personally leading to further women’s careers within the tech industry. According to a 2020 }}

OUR GOAL REMAINS STEADFAST, TO ACQUIRE UNIQUE ORGANIZATIONS WITH INDUSTRY-FIRST TECHNOLOGIES TO BETTER SERVE OUR CUSTOMERS, DRIVE MORE VALUE, AND SOURCE INNOVATIVE SOLUTIONS TO MARKETERS’ BIGGEST FRUSTRATIONS AND CHALLENGES BEFORE THEY EVEN ARISE

YOU AND YOU ALONE ARE RESPONSIBLE FOR MOVING, FINDING SOLUTIONS, GETTING STUFF DONE, AND MOVING ONWARD AND UPWARDS. THAT ‘ZERO OPTIONALITY’ EXECUTION MINDSET HAS BEEN FUNDAMENTAL TO INSIDER’S SUCCESS.

THE EXECUTIVE SUMMARY

Q&A with Hande Çilingir , co-founder and CEO, Insider

Accenture and Girls Who Code report called Resetting Tech Culture, 50% of women who take on a tech role drop it by the age of 35, compared to approximately 20% in other types of jobs. The research also found that in the world’s largest 1,000 companies, fewer than one out of five Chief Information Officers (CIOs) or Chief Technology Officers (CTOs) are women. Meanwhile, a 2022 McKinsey report focusing on women in the workplace revealed that 32% of women in technical and engineering roles often find themselves being the only woman in the room at work. Çilingir is aware of all of these issues- but she’s putting in the work at Insider to address them as well. “Women remain underrepresented in tech, not only in the MENAT, but across the world,” she says. “At Insider, we’re proud that 70% of leadership roles are held by remarkable women.”

But that’s not all- corporate social responsibility initiatives (CSR) aimed at empowering women are also a mainstay at Insider. These include sheleads (a leadership mentorship program), shecodes (an eight-week training and mentorship program), and shemarkeables (a movement celebrating remarkable women in customer experience). “Our dedication to empowering women goes beyond tech,” Çilingir adds. “We recently launched an initiative aimed at providing training to help young athletes, especially women, reach the highest level of competition, and create more female Olympic athletes. Whether it’s sailing, volleyball, fencing, football, or gymnastics, we’re dedicated to nurturing and funding young athletes, equipping them with the skills they need to be successful. The impact we drive in initiatives like these is much more significant than anything we could achieve as individuals.”

Leading by example -and with a sense of purpose- thus seems to be an integral part of Çilingir’s psyche as an entrepreneur. “For me, the two most significant traits that separate great leaders from good leaders are energy and consistency,” she says. “It’s an old and well-documented adage that ‘startups are a marathon, not a sprint.’ I do not entirely agree with this. Running a company, team, or even a family, feels much more like ‘a marathon of sprints.’ It’s about bringing the same energy, commitment, and focus day in, day out. It means you need high-energy, every day, for days, months, and weeks on end. As a leader, the entire organization runs on the energy you put in- so, you consistently have to be the best, biggest, and loudest advocate for your business. How do you create that relentless energy? Having a fundamental belief in your mission that transcends the bad days, the tiredness, the late nights, the challenges, the setbacks. Consistency is critical. Hard work is a competitive differentiator that can move markets, gain first-mover advantage, and more.”

And that, in effect, is how Çilingir runs the show at Insider.

“‘Nobody gives a sh*t’ is the best advice I ever received,” she says.

“Because, as a company founder, it’s true. You screw up, fail to build the product, fail to make the right hire, fail to hit your target? Your investors, co-founders, team members, and customers don’t care [about who exactly might be at fault]. You and you alone are responsible for moving, finding solutions, getting stuff done, and moving onward and upwards. That ‘zero optionality’ execution mindset has been fundamental to Insider’s success.”

What are your top tips for tech entrepreneurs/CEOs looking to lead their companies to success, and build the best possible product, service, or platform?

} One of the most important lessons I have learned throughout my career, and at Insider, is balancing the importance of listening to your customers- and your gut. Not enough founders or CEOs discuss this, but it has been critical to our growth and success.

} Like most software-as-a-service (SaaS) businesses, net revenue retention (NRR) is one of the most critical metrics we use at Insider to measure our company's growth and health. We have achieved an extremely high NRR rate at Insider. To do this, I genuinely believe that you need to be customer-obsessed, you need to love their problems, and seek to solve them- but never at the expense of your own gut instinct.

} Customer feedback should be used as a compass, not a crutch- and I say this as the CEO of a product company with a 100/100 user satisfaction score by G2 [the world’s largest and most trusted software marketplace]. We are guided by customer feedback, but not dictated by it. Why? Because founders and CEOs should be the ones focusing on pushing the boundaries of what's conceivable, transforming your technology from a mere tool into a catalyst that turns customers into visionary industry leaders.

} Customers can easily describe a problem but sometimes cannot see -or visualize- the bigger picture. This analogy -somewhat dubiously attributed to Henry Ford in the 19th centurybest sums it up. ‘If I had asked people what they wanted, they would have said faster horses." Customers can easily describe a problem they're having -in this case, wanting to get somewhere faster- but not the best solution. Cars were the solution that customers never knew they needed.

} At Insider, we listen to our customers, and we are guided by their challenges, feedback, and guidance, but we also trust our gut instinct to be able to create the best platform for marketing and customer experience professionals- and anticipate their needs before they even arise.”

“One of the most important lessons I have learned throughout my career, and at Insider, is balancing the importance of listening to your customers- and your gut.”

Envisioning the Future

For Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, the real estate development arm of MAG Group Holding, a UAE-based multinational conglomerate founded by his father Moafaq Al Gaddah in 1978, Dubai served as an inspiration for him to forge his own path within the family business. “Growing up in Dubai, I watched the city transform before my eyes, rapidly evolving into the global metropolis with its iconic skyline that it is today,” he says. “My interest in the real estate sector grew steadily alongside it.”

It was in 2012 that, with a university degree under his belt, Al Gaddah joined Invest Group Overseas, a property development arm of MAG Group Holding, as its Director of Sales and Marketing. “During my tenure, I spearheaded sales campaigns that resulted in an impressive US$408 million in revenue over 12 months, particularly for our Polo Townhouses and The Polo Residences developments in Dubai,” he says. “I also played a pivotal role in diversifying our reach, notably by successfully launching The Gate in Frisco, Texas, USA. I oversaw every facet of this project, from inception to completion.”

Then, in 2014, Al Gaddah assumed the role of CEO at MAG,

which saw him take on the responsibility of steering the company’s strategy that encompassed leadership over six critical departments- finance, project management, sales, marketing, administration, and legal. “Over the past nine years, my real estate portfolio has witnessed remarkable growth, now exceeding a valuation of $5 billion,” he says. “My mission is to usher in a new era, attracting local and international investors. This endeavor involves crafting developments meticulously tailored to their unique needs, transforming their aspirations into tangible realities.”

While MAG Group Holding operates in a number of sectors (real estate, freight, commercial sector,

Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, the real estate development arm of the MAG Group Holding, dreams to reshape the UAE’s real estate market by TAMARA PUPIC

← Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG.

services and industrial sectors, contract engineering, and hospitality, to name a few), Al Gaddah has decided to specialize in the real estate sector, because he believes it’s been on a rising curve, especially in the UAE. Today, MAG’s interests range from luxury high-rise residential towers and vast multi-billion dollar communities to innovative real estate projects. “We’ve had a swift economic rebound from the coronavirus pandemic, buoyed by surging oil prices and forward-thinking government policies, particularly visa rule modifications aimed at drawing more investment,” he notes. “Furthermore, the appetite for luxury properties among high-net-worth individuals and foreign investors is anticipated to grow even stronger.”

Among developers in the GCC region, MAG is recognized for its innovation, commitment to superior quality, and consistent delivery of high-value projects. This is evident in Keturah, a luxury well-being real estate and hospitality brand that Al Gaddah introduced in 2022. Keturah Resort comprises 177 residences across seven buildings and 12 mansions at the Ritz-Carlton Residences, located in Dubai Creekside. The whole development is valued at AED2.8 billion ($760 million). Al Gaddah

envisioned the project as a sanctuary of wellness and luxury in the city, and it provides homeowners with a 180-degree view of the Dubai skyline as well as the Ras Al Khor Wildlife Sanctuary. Keturah Resort is also the first development in the GCC to pursue a WELL HealthSafety Rating certification, an evidence-based third-party verified rating for all new and existing building and facility types.

As for the 12 mansions, Al Gaddah explains that the exterior designs and interiors, which are symbolic of the elements of earth, water, and sky, create exceptional living experiences. “The spaces create harmonious journeys through covered terraces, framed by structures that encourage outdoor living, glass-framed courtyards, and adjustable architectural screens that elevate the

individual’s interaction with insides and gardens,” he adds. The development is also known for its use of tech to bolster its offerings. “In line with the government’s proactive initiatives, we integrated cutting-edge technologies and eco-conscious practices within our operations and projects,” Al Gaddah says. “Our emphasis on creating a sustainable and wellness-centric living environment aligns with evolving client demands and preferences, showcased prominently in our Keturah concept, which fuses luxury and well-being.”

Following the successful launch of Keturah, MAG also announced the launch of Keturah Business Bay, a AED2 billion ($545 million) luxury tower. “We also announced the purchase of a plot in downtown Dubai to launch Keturah Downtown,” Al Gaddah adds. “These two new Keturah launches

confirm the huge demand for innovative, luxury and unique projects across the real estate sector.” In 2022, MAG also launched the Keturah Reserve, a AED3 billion ($817 million) exclusive and innovative }}

→ Keturah Reserve Residential Building

The UAE presents an unmatched ecosystem for luxury real estate enterprises.”

luxury residential development within Dubai’s Meydan development, which compromises of 93 townhouses, 90 villas, 540 units over six apartment block buildings, and eight penthouse apartments.

Keturah Reserve is unique for its “Bio Living” concept, which incorporates nature into the built environment to improve the physical, mental, and emotional health of its occupants. “Keturah Reserve is conceived to create a thriving and harmonious community with communal spaces such as The Park, the outdoor pool, women’s and

men’s gyms, and spas,” Al Gaddah explains. “The Park is the focal point of Keturah Reserve, a place to recharge and socialize, open 24 hours a day. Shaded by olive trees sourced throughout the world, The Park is for pedestrians of all ages, with Japanese foot massage mats, open air meditation, and exercise zones.”

Just next to Keturah Reserve in Meydan is another of MAG’s projects, MAG City, which comprises 904 residential units across studio, one-, and two-bedroom apartments, as well as 694 townhouses constituting two-, three-, and four-bedroom units. “At MAG City in

Meydan, 546 townhouses have been delivered, with another 688 units scheduled for completion by the end of the year,” Al Gaddah says. “Over the last year, MAG successfully completed 2,000 units spanning three projects. The sales for Keturah Reserve and Keturah Resort exceeded AED4.1 billion. Meanwhile, MAG City brought in sales of over AED1.7 billion. In addition, MBL Royal Residence in Jumeirah Lakes Towers, a mixed-use luxury tower developed by MAG, had all its units sold within a mere 120 days, totaling AED735 million in sales. Another noteworthy accomplishment is MAG 22, a project of 22

townhouses, which has already sold out, and is set for completion by December 2024.”

With various monthly reports confirming the UAE’s position as a mature and stable real estate market with steady and high returns, fueled by investor-friendly policies and regulatory changes such as the golden visa scheme, Al Gaddah believes that the sector is poised for further growth. “The UAE presents an unmatched ecosystem for luxury real estate enterprises,” he says. “Its dynamic economy, strategic geographical position, and visionary leadership offer an ideal backdrop for fostering growth and innovation. While challenges are integral, stemming from regulatory shifts to market dynamics, our ability to swiftly adapt and nurture a resilient team capable of thriving under pressure has proven pivotal.

→ Keturah Reserve entrance

← Keturah Reserve Water Villa

MY MISSION IS TO USHER IN A NEW ERA, ATTRACTING LOCAL AND INTERNATIONAL INVESTORS. THIS ENDEAVOR INVOLVES CRAFTING DEVELOPMENTS METICULOUSLY TAILORED TO THEIR UNIQUE NEEDS, TRANSFORMING THEIR ASPIRATIONS INTO TANGIBLE REALITIES.

To amplify the UAE’s business-friendliness, streamlining permit procedures and incentivizing sustainable practices could attract global investors even more, and amplify the sector’s expansion.”

Iclose my interview with Al Gaddah by asking him what it takes to succeed as a real estate entrepreneur in the UAE, and he replies by first highlighting the importance of building a team that empowers each of its members to contribute their unique skills and insights. Then, he shares a more personal advice. “While I prioritize a strong work ethic, which involves a daily commitment to extended hours, I’m mindful of maintaining a healthy work-life balance; striking this equilibrium is crucial for sustained productivity and motivation,” he says. “Success, to me, centers on continuous learning and adaptability. Given the dynamic nature of the real estate industry, embracing

The Executive Summary

Talal Moafaq Al Gaddah’s tips for entrepreneurs in the real

estate

sector

}Embrace innovation

“Innovate or evaporate. I recall a time when we revamped a traditional project into a futuristic, eco-friendly one, and the market response was overwhelming.”

}Relationships matter

“Building strong relationships is invaluable. I’ve seen firsthand how a solid network can lead to unforeseen opportunities and collaborations.”

}Hold on to your values

“Uphold ethical standards in all dealings. A reputation for integrity builds trust, and it leads to sustainable success.”

}Resilience is key

“Challenges are steppingstones, not stumbling blocks. When facing adversity, our team’s resilience and ability to pivot proved instrumental in maintaining progress.”

change, fostering innovation, and nurturing strong client and colleague relationships are essential strategies for staying ahead.”

↓ Keturah Reserve kids play area

Given the dynamic nature of the real estate industry, embracing change, fostering innovation, and nurturing strong client and colleague relationships are essential strategies for staying ahead.”

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#TamTalksTech

Gadgets and doodads that you might’ve missed out on, sourced by a tech aficionado.

by TAMARA CLARKE

Start the show ↑

Amazon Echo Show 8 /

The new Amazon Echo Show 8 boasts upgrades such as a new industrial design with edge-to-edge glass and soft curvatures, while an improved processor delivers even faster display responses. The new adaptive home screen includes shortcut icons, and if you’ve enrolled with your visual ID, content will be personalized for you, highlighting things like a recent playlist, or additional news articles based on past interactions. Echo Show 8 also features Adaptive Content, a new home screen experience that uses on-device computer vision technology to adjust on-screen content based on your proximity to the device. If you’re positioned across the room, you will see content that is easily viewed from a distance -such as a simplified news headline or recipe inspiration- with the screen automatically transitioning to a more detailed view as you approach the device. Alexa also gives you more by processing responses to common smart home requests -such as turning on a smart light, switch, or plug- 40% faster. Plus, an enhanced audio experience provides improved clarity and bass, with room adaptation technology and spatial audio processing. Video calls are better too with a centered 13-megapixel camera, plus an enhanced audio pipeline, which minimizes background noise. Additionally, a built-in smart home hub includes support for Zigbee, Sidewalk, Thread, Bluetooth, and Matter, giving you easy control over compatible lights, locks, and sensors.

← Make your mark

Epson EcoTank L8160 /

↑ Sound off

Sony SRS-XV800 Speaker / Stream your favorite tunes, and get the party started with powerful omni-directional, surround sound from the Sony SRS-XV800 speaker. Five tweeters deliver clear sound to both the front and rear of the speaker. Plus, it’s all backed up with punchy bass you can feel, thanks to its dual X-Balanced Speaker Units. The XV800 is also portable enough to easily move around, so you can take the party with you wherever you go. And with a battery life of up to 25 hours, you can stream without having to worry about running out of power. The XV800 also features a variety of other features such as karaoke and guitar input, a convenient and intuitive touch panel making it easy to control settings, and it also works with Party Connect, which can connect up to 100 compatible Sony speakers for an even bigger sound. With its powerful sound, portability, and long battery life, the XV800 is sure to create unforgettable experiences.

Step up your home office game with EcoTank L8160, a single device with multiple functions. You can print, copy, and scan documents directly from your phone or tablet using the Epson Smart Panel app, or print from SD cards and USB flash drives using the 10.9cm color touchscreen. With full Wi-Fi, Wi-Fi Direct, and Ethernet connectivity, integrating this printer with your existing home set-up is a breeze. The printer produces stunning A4 photos and documents with two dedicated paper trays plus two rear feeds for thicker media up to 1.3mm thick and 2m long. EcoTank can print up to 2,300 high-quality photos with Epson Claria ET Premium ink, thereby keeping your printer costs low. Plus, the six-color ink system comes in bottles, which allows you to avoid the hassle of having to replace messy cartridges.

TAMARA CLARKE, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the region. Clarke’s goal is to inform about technology and how it supports our lifestyles.

Talk to her on Twitter @TAMARACLARKE theglobalgazette.com

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 edition, our picks include Chopard’s Alpine Eagle collection, a new fragrance from Guerlain's L’Art & La Matière collection, and more.

ICON MEETS ICON / Julia Roberts shines as Chopard’s global ambassador

Hollywood royalty Julia Roberts, who has been the face of Chopard’s Happy Sport and Happy Diamonds collections since 2021, was declared to be the muse of all of the Swiss Maison’s women's watch and jewellery collections earlier this year, and she is certainly looking the part as she wears the brand’s iconic Alpine Eagle in the latest episode of the Chopard Loves Cinema campaign. A historic Chopard model reinterpreted by three generations of men from the Scheufele family that own the brand, the Alpine Eagle collection clearly reflects the Maison’s creative richness and visionary spirit. With numerous variations in ultra-resistant and highly luminous Chopard Lucent Steel, composed of 80% recycled material, and/or ethical gold, the collection is the ultimate incarnation of the Maison’s commitment to sustainable luxury. True to Chopard’s equally deep commitment to fine watchmaking, these iconic timepieces are powered by reliable automatic movements developed inhouse and chronometercertified by the Swiss Official Chronometer Control– a rare event for watches in this category, and not to mention, a magnificent model in titanium, equipped with an impressive high-frequency caliber. With its trademark round case with stylized flanks, crown engraved with a compass rose, bezel with eight functional indexed screws, textured dials with deep hues and luminescent indications, as well as an eagle’s feather-shaped sweep-seconds hands, the Alpine Eagle collection represents impeccable elegance, expressed in a resolutely contemporary manner.

SHADES OF BLUE/ Emporio Armani Autumn/Winter 2023/24 Sustainable Collection

The argument can perhaps be made that now is too early to think about what to wear for the cooler months of the year- but maybe a look at the Emporio Armani Autumn/Winter 2023/24 Sustainable Collection will cause you to think differently. The ocean is the setting for this line catered to men, women, and children, and it is defined by the responsible use of materials and processes that minimize the impact on nature. A plethora of nautical themes and shapes abound in all of its pieces, which include anoraks, quilted jackets, bomber jackets, pea coats, overshirts, trousers, and Bermuda shorts, as well as short skirts and down jackets. The color palette also stays true to the central theme of the collection, with it dominated by marine tones of blue, ranging from ultramarine to navy, while also featuring ice white, shell white, shark grey, coral yellow, and sunset orange. worth your while. armani.com

A MEETING OF OPPOSITES/ Guerlain Tobacco Honey

Billed as the French Maison’s “crowning jewel of high perfumery,” Guerlain’s L’Art & La Matière collection is continuing to impress with its latest creation, Tobacco Honey. Raw tobacco -one of the unsung ingredients of the perfumery world- reveals itself as an accord in this scent, with its most beautiful facets unveiled when touched by the other component that gives this fragrance its name, honey aka “Guerlain gold.” Tobacco and honey are thus brought together to realize a contrasting olfactory tension, making this Guerlain creation an art form in its own right. guerlain.com

EDITOR’S PICK

Foug

by OFA/

Hala Abdullah, founder of the Dubai-born jewelry brand OFA, pays homage to her Saudi Arabian heritage with her latest collection, Foug. Inspired by the rich traditions of the Kingdom, Foug showcases 12 pieces that run the gamut from delicate necklaces adorned with intricate filigree patterns, to bold statement rings that command attention. In a statement about the new line, Abdullah said, “Designing Foug has been a deeply personal and fulfilling journey for me… It was important to me to strike a balance between tradition and modernity, resulting in a collection that is both timeless and relevant.”

ofaofficial.com

Adrenaline Meets Eardrums

ITALIAN MOTORSPORT MEETS DANISH DESIGN IN A NEW COLLABORATION BETWEEN BANG & OLUFSEN AND FERRARI

↑ Beoplay EX, B&O’s most powerful true wireless earphones, boast of active noise cancellation and unrivaled sound.

Danish luxury audio brand Bang & Olufsen (B&O) has joined forces with Italian motorsport pioneers Ferrari to unveil a special collection of products that celebrate the two brands’ shared passion for “poise, power, and precision.”

}The new line includes a reimagination of B&O’s Beosound 2 home speaker, Beoplay H95 headphones, Beoplay EX earphones, and Beosound Explore portable speaker, all of which are presented in a striking shade of red- a nod to Ferrari’s brand signature, of course.

Over 150 years of innovation between both brands have thus been honed and curated into the B&O Ferrari collection. While B&O has

→ Over 150 years of innovation between Bang & Olufsen and Ferrari have been honed and curated into this collection.

shaped the global sound and vision landscape since 1925 from Struer, Denmark, Ferrari has been disrupting the automotive industry since 1947 from Maranello, Italy.

“We are very excited about this collaboration,” says B&O CEO Kristian Teär. “There was a strong sense of history in the making as we came together to create it. It goes all the way back to the start for B&O and Ferrari. The founders, Enzo Ferrari, Peter Bang, and Svend Olufsen, were visionaries, who redefined their industries by challenging the status quo. Their legacies ring down through the decades to push both brands to new heights to this day.”

}While this new collection continues to champion B&O’s excellence in aluminium, it does mark a departure from the brand’s traditional approach to its products. “Our classic speakers are meant to naturally blend in with people’s homes, while also standing out for their beautiful design,” explains Christoffer Poulsen, Senior Vice President of Business Development and Strategic Partnerships at B&O. “This collection is different. They’re

statement pieces. Much like supercars, they make themselves seen and heard everywhere they go.”

Indeed, there’s no question that the products in the B&O Ferrari collection will turn heads- consider, for instance, the Beosound 2, which delivers a 360-degree home audio experience that fills any space it is placed intohere, its design has been reimagined in Ferrari’s signature red. The aluminium body is polished to provide a high shine, enhancing the richness of the red shade, and the iconic Ferrari emblem sits below the grille, completing this edition.

Meanwhile, Beoplay H95 -B&O’s flagship headphone that provides best-in-class sound and innovation incorporates Ferrari’s jet-black shade, alongside laser-etched logos of both brands. Take a look under the earcups too- the titanium speaker grilles have been anodized in a rich red hue, specifically selected for this collaboration.

}As for the Beosound Explore, a portable speaker that can be taken taken anywhere and everywhere by virtue of its IP67 rating (i.e. it’s fully dust and waterproof), this collection sees it come with Ferrari’s laser-etched Prancing Horse, as well as a striking black carabiner. The two-layer body of the speaker is anodized in red and black, thereby ensuring the grille stands out. This collection also features Beoplay EX, B&O’s most powerful true wireless earphones, which boast of active noise cancellation, unrivalled sound, and comes complete with a wireless charging case for up to 20 hours of on-the-go listening. For this line-up, the right earbud houses a striking black foiled logo of the Ferrari emblem, sitting under glass poured in the iconic red, cut and polished to provide a mirror-like shine.

Commenting on the line, Teär says, “The combination of best-in-class performance, graceful aesthetics, and meticulous craftsmanship brought B&O and Ferrari together to create the collection. This is elevated by the unrivaled heritage of both brands, making this collaboration one to remember.” bang-olufsen.com

THIS COLLECTION IS DIFFERENT. THEY’RE STATEMENT PIECES. MUCH LIKE SUPERCARS, THEY MAKE THEMSELVES SEEN AND HEARD EVERYWHERE THEY GO.”

↓ In Qatar, the Ferrari Collection can be pre-ordered exclusively and in a limited quantity at the Bang & Olufsen store on Level 1 at Lagoona Mall or via 51east.com.

How to Ruin Your Brand

(Basically, this is what you don’t want to do with your business)

THERE’S A SORT OF CONFIDENCE FOUND ONLY IN BRANDS THAT HAVE CONFIDENCE.

What I mean by this redundant introductory sentence is what this article is about: how to confidently present your company as a brand to the world, while avoiding the mistakes that keep on being repeated for lack of knowledge by business owners.

If you look at the online presence of Apple, the iPhone maker ruling half the globe’s pockets (the cooler half, some might argue), you’ll notice a peculiar approach to marketing. On X, the app formerly known as Twitter, the company has a verified account with zero posts; the same on Facebook with zero

by SARAH TRAD

posts; on Instagram, a community of cultured photographers deemed cool, edgy, and unorthodox take over the feed with a mandatory #ShotoniPhone in the caption; on YouTube, the most fun happens with plenty of creative campaigns.

The confidence of Apple in neglecting the social media platforms it can’t produce on-brand content for is what makes it so cohesively loved by its audience, and why, year after year, this audience grows. The iPhone doesn’t have the best camera, but it sure as heck takes immense pride in it, a pride that seeps into its audience’s subconsciousness so that they become almost ruthless supporters who can’t be convinced to quit the “community.” }}

I can understand if you’re over examples of global companies, but they’re global for many reasons, and the way they handle their brands is a lesson for us all, irrespective of the size of our business. A cohesively, well-marketed mediocre product is more profitable than an obscure brilliant one- that’s just the way it is.

So, how do you ruin your brand? Here’s a primer.

1/MISUNDERSTANDING (AND UNDERESTIMATING) BRANDING

Branding is the overall impression and feel a business attempts to convey to people; I say “attempts” here because, eventually, people will form their own image of that business based on their personal perspectives and values. Some will find a business cringe, while others will adore

everything it does (Apple Inc. is a great example, just ask Android users what they think of the i-everything maker.) For the sake of all that is impactful, do your best to understand branding and its powers, instead of dismissing it as an expensive exercise. A good business supplies and earns; a great business impacts and empowers. Take the time to sit with a professional, or do your own research regarding what branding is, what it encompasses, how it’s applied, and to what aspects of your business, and what differentiates it from marketing and advertising.

2/ FORGOING UNIQUE SELLING PROPOSITIONS (USPs) When what you’re offering isn’t groundbreaking, advocate for it through the way you’re

offering it, or the reason behind it. Few are the companies in this time and age that can assertively say they’re the first in X or Y, but many smart companies are unfazed while listing what makes their approach to their service/product truly matchless among their competitors. A few examples: obsessive customer-centricity, 100% recycled packaging, or ethically sourced products. A regular plastic toothbrush doesn’t appeal to those who buy at x3 the price a wooden one.

3/ABANDONING BUSINESS VALUES If people have values that guide their way through this tricky life, so should companies that have a bigger impact than mere individuals. Your business claims it backs sustainable solutions? Don’t send your C-suite in a private jet for meetings, and stay away from piles of non-recyclables in your office kitchen. Set three or five core values for your business (say, employee work-life balance, cost-consciousness, curiosity, accountability, etc.), and let them guide all your decisions.

4/OVERLOOKING BRAND GUIDELINES Did you pay a creative professional thousands of dollars for a brand deck and guidelines only to store them safely in a Google Drive folder? No. Just like core values are the compass to decision-making, brand guidelines are the compass to your online/offline communications and marketing. Use the color palette, the design elements, the variations of the logo, and everything else that’s been handed to you by those who know better- here’s hoping you’ve selected the right branding agency to work with! Also, and this comes from the broken heart of a journalist and creative writer who aches at the sight of meh copywriting, do not allow any text to go out under your business’ name if it isn’t at the very least error-free. If it can be humanly creative without the use of ChatGPT, that’s 10 points to Gryffindor! Focus on good design and minimal text if you can’t get your hands on an imaginative writer- artificial intelligence-powered tools are not your best friend/free labor like you think they are, and the general public is smart enough to differentiate between robotic text and that of humans.

5/Targeting The Wrong Audience (And Ignoring The Core Clientele’s Experience)

You’re not meant to please and serve everyone, especially once you set your core values and USPs. These two alone will weed

← Sarah Trad is the co-founder of Closed Captions Communications.

out the people who don’t align with your company. Now that you have a right fit of an audience, keep your eyes peeled regarding their experience, while in contact with your business. Minimize any discrepancies that can occur between what the company says it offers, and what

CREATIVITY SPEAKS

Closed Captions

Communications releases Eat Your Heart Out , a short film built as a tribute to the MENA’s F&B sector

it actually offers, and how it offers it. Is the purchasing process smooth, clear, efficient? Is customer service quick, helpful, insightful? Is your website bug-free, fast, neat? Is your service/product impeccable, as described, refundable?

Mash all of the aforementioned lessons together, and you’ll be sure to get a brand with the potential to move mountains, and convert the unconverted. All of these efforts are sealed when

you train your employees on seeing the company they work at (not “for”, “at”) the way its founder does. The people running your company should have its best interest at heart as often as possible, and they should understand its tone of voice, mission, and the overall image it conveys to the outside world. Experts are all around you, either via free content online, or paid services in person- just don’t let the right path overwhelm you. All the luck to you!.

Sarah Trad is a journalist and the former Editor-in-Chief of tech and business newsletter Step Feed. She’s curious about the littlest things in life and has nurtured an intimate relationship with words, which brought her to co-found newly launched branding studio, Closed Captions Communications, with her brother, Serge. closedcaptionscommunications.com

}Closed Captions Communications (CCC), the Dubaibased branding studio founded by brother-andsister duo Serge and Sarah Trad, has released Eat Your Heart Out, a short film that has been designed as an ode to the F&B sector in the MENA region. A meditation on “family, shared meals, and the millions of hard-working talents feeding the MENA’s hungry tummies,” the two-minute-long creation is characteristic of the creativity that the Trads are heading CCC with.

}In a statement, Eat Your Heart Out has been described as “a tribute to an industry that emphasizes the irreplaceable human touch required to curate creativity, all while attempting to recreate a homely feeling in a cardboard takeout box.” This is the ethos that the Trads and their team have sought to replicate in this particular campaign, with everything from the creative brainstorming to the selection of music for the film, embodying “the essence of being present, physically and emotionally.”

}”Artificial intelligence can achieve impressive feats, but it can’t replicate the depth of human connection, and the emotions we pour into our creations,” said Serge. “Eat Your Heart Out is a testament to the power of human creativity, and the authenticity it brings.” instagram.com/ closedcaptionscommunications

THE PEOPLE RUNNING YOUR COMPANY SHOULD HAVE ITS BEST INTEREST AT HEART AS OFTEN AS POSSIBLE, AND THEY SHOULD UNDERSTAND ITS TONE OF VOICE, MISSION, AND THE OVERALL IMAGE IT CONVEYS TO THE OUTSIDE WORLD.

→ Serge Trad and Sarah Trad, co-founders, Closed Captions Communications

→ Eat Your Heart Out is a short film released by Closed Captions Communications that has been designed as an ode to the F&B sector in the MENA region.

The Instant Startup

There is an ancient Chinese proverb that resonates profoundly with our current entrepreneurial landscape, which goes: “May you be lucky enough to be born in times of great change.”

We are truly living through fascinating times, and with the artificial intelligence (AI) revolution commanding the world of technology, we have seen a surge in business opportunities. It’s no surprise that because of pioneering technology, business life cycles are now more compressed than ever before; what would usually take years can now be built within a matter

of months. We have unlocked a new realm of startup possibilities.

Some of us remember a time when businesses had to painstakingly grow from the ground up. Nowadays, however, businesses are no longer constrained to traditional methods, or created from scratch- they are assembled like the components of a perfectly tuned car on an assembly line. It’s often now seen that a fully-fledged business can be pieced together in as little as 30 days- regardless of whether it is for a high technology enterprise or a brick-and-mortar setup, the process remains the same. These same businesses can then be hyper-scaled using the reach of social media, marketing, and the internet.

How to build a unicorn in 1,000 days by SAM SINGH

Gone are the days when the concept of international expansion was seen as risky. It is now the open door to market access and a wealth of opportunities. Thanks to advanced technologies and

assemblies, like the shaft gear system, steering column, and braking system; all of which are autonomously produced by a specialized provider- no longer do they need to be built from scratch. There is a similar blueprint seen in

like it, but “not going to plan” is “the plan.” Everything might seem like a train wreck, but a business must grasp this moment -and recover- in order to move forward.

Managing the tricky messy middle successfully will lead

an enterprise value of $1 billion, while growing within their industry. To build a unicorn in a relatively short period of time (i.e. in under 1,000 days), ensuring the TAM is very large -i.e. in excess of $100 billion- needs to be a key strategic

tools, companies can be easily built, scaled, and achieve ultimate growth; many entrepreneurs can now entertain the idea of global ambitions with ease. So, what makes “an instant startup” possible? Dissecting the strategies and tools in almost every aspect of a business, from building a technology stack, to creating cutting-edge websites with bespoke branding, lead generation, designing marketing campaigns, payroll management, and onward to the creation of video commercials, managing inventory, and other vital business functions, all of those can be accomplished using technology tools, and, more specifically, AI. In today’s world, you don’t need to be a software expert or a coder to harness these resources- we live in a low-code/no-code environment. With all these services readily available, companies can be assembled faster than ever before.

}The modern business assembly line is thus much like that of a car manufacturer. There are several different designated

businesses today, whereby they use fabricated components can be used to set up a seamlessly functioning organization.

}Here, we need a discussion of the AMG model. The AMG model stands for “Assemble, Market, and Grow.” The first phase of the model stands for “assembling, aligning, automating, and activating” the business; this crucial phase A can nowadays be accomplished within a span 30 to 60 days. During this phase, the primary goal is to bring together the various components and functions of the business.

Once phase A is complete, the business must shift its focus to phase M, which stands for “marketing and expanding market share.” This is a crucial point in the process, and where the art of marketing must be at its finest. However, during this phase, businesses often encounter the “messy middle,” where their initial efforts may seem unsuccessful; nevertheless, this is an integral part of the plan, and it serves as a learning experience, because even though it might not seem

you to the third and final phase, i.e. phase G, which stands for “growth,” and this is where we see businesses truly take off. After assembling and activating the business (phase A), and effectively marketing it and navigating the messy middle (phase M), it’s time to focus on substantial growth. This involves a concept called “blitzscaling,” which is a pivotal part of growth. Unlike traditional approaches that begin local and before going global, modern businesses have the advantage of operating in a global marketplace from the outset. This phase also emphasizes “gainful growth,” which means pursuing not just growth, but also profitability.

}Utilizing efficient tools to reduce costs thus becomes paramount here. The goal is to aim for markets with a substantial addressable market size, which is usually referred to as the total addressable market (TAM), with a value exceeding US$100 billion. This ambitious scale is essential for aspiring unicorns aiming to achieve

consideration.

In the age of instant startups, the possibilities are endless. By leveraging technology and assembling the right components, businesses now can be hyper-scaled. Thanks to the ever-evolving world of technology, more and more people can create an instant startup, resulting in many turning their entrepreneurial dreams into reality in record time.

Sam Singh is the founder and CEO of Tripler, a trailblazing, world’s first, revolutionary property lead conversion platform that utilizes the capabilities of artificial intelligence (AI) to empower real estate agents to save time, and convert three times more leads. With a career spanning 27 years, Sam holds a notable reputation as a serial entrepreneur and inventor who has built and successfully exited multiple companies. Through his ventures, he has become a globally recognized thought leader in the field of proptech. tripler.ai

GONE ARE THE DAYS WHEN THE CONCEPT OF INTERNATIONAL EXPANSION WAS SEEN AS RISKY. IT IS NOW THE OPEN DOOR TO MARKET ACCESS AND A WEALTH OF OPPORTUNITIES.

A Time of Hope

Many of us feel concerned about the mutable nature of the modern world, which is continually being made and unmade before our eyes. Yet, there is a more uplifting and positive perspective that one might entertain. By taking control and choosing to plot a distinctive course of action, the future can be shaped and directed. As the American inventor Buckminster Fuller once said: “The best way to predict the future is to design it.”

Buckminster’s maxim is perhaps best characterized by what is taking place across the Middle East and North Africa (MENA) region, a region that has discovered its own unique enterpriseminded approach to benefiting from this period of revolution and persistent transformation.

Small-and medium-sized enterprises (SMEs) and the enterprise culture is the backbone of the global economy, and the MENA region is not an exception. These agile enterprises drive job creation, foster innovation, and contribute significantly to economic growth.

The MENA’s dynamic business landscape showcases a remarkable entrepreneurial spirit. With startups in the region attracting a significant US$4 billion in venture capital during 2021-2022, it is evident that MENA is brimming with innovative and non-traditional thinkers. The surge in startups in the MENA region is driven by a multitude of factors, most notably the various government-

Navigating the challenges of change in the MENA business landscape by JANE KHEDAIR

backed initiatives which become crucial safety nets and growth drivers. The region has a growing young and tech-savvy population that is eager to embrace innovation and create their own opportunities.

This, coupled with digital connectedness, has given rise to a generation of trailblazing entrepreneurs ready to turn their dreams into realities. Meanwhile, access to funds, which has historically been a source of frustration for entrepreneurs, is also becoming a non-issue, given how increasingly active angel investors, venture capitalists, and crowdfunding platforms are in the region. This is particularly pertinent against a backdrop of external economic challenges elsewhere, like high inflation and fluctuating interest rates, as well as dampening investor sentiment.

State-backed endeavors, such as Saudi Arabia’s ambitious $200 million fund initiative as well as the UAE’s emblematic “Make it in the Emirates” campaign stand as tangible examples to the region’s dedication to innovation. Additionally, the UAE’s National In-Country Value (ICV) Program further underscores its dedication to fostering homegrown entrepreneurial talent. Economically, the benefits of cultivating entrepreneurs and growing successful startups is clear. The growing number of SMEs in MENA signals a healthy, busily diversifying economy.

BY VIRTUE OF

At the same time, reforms to business regulation and visa applications, and investment in infrastructure and technology, have created a go-to environment where business development is encouraged, and deal-making is straightforward. Such reforms and investments, together with the radical changes to business culture and outlook, are helping to grow the region’s reputation, building trust in the economy, and fortifying the entrepreneurial ecosystem.

As the MENA looks hopefully to the future as well as the anticipation that continual change will be the norm, we can begin to see more clearly the power of entrepreneurship: its potential as a force for good, creating many more opportunities for many more people, and making the region and the world a better place.

Personally, I do not share the dystopian view of the future that many among us seem to have. After all, we humans are too ingenious to lose out to pessimism. What is more than likely is

(AND FURTHER ADVANCES

BUSINESSES

that many more of us, in the MENA and across the world, will be running our own small enterprises. Those that grow fast and become bigger companies have the potential to create nearly all new jobs on the planet. By virtue of Moore’s law (and further advances in digital technology), we are now running businesses with a global reach– virtual experts, able to do business anywhere. Imagine a world full of people exercising their creativity, and providing value to each other. Looking at the world in the later 2020s and beyond, I can see a bright future for us on the horizon. Our shift towards entrepreneurship and our sheer adaptability are positively inspirational.

Jane Khedair is the Executive Director of London Business School’s Institute of Entrepreneurship and Private Capital (IEPC). The IEPC, together with AstroLabs, is supporting the 2023 MENA Startup Competition. london.edu

MOORE’S LAW

IN DIGITAL TECHNOLOGY), WE ARE NOW RUNNING

WITH A GLOBAL REACH– VIRTUAL EXPERTS, ABLE TO DO BUSINESS ANYWHERE.

The surge in startups in the MENA region is driven by a multitude of factors, most notably the various government-backed initiatives which become crucial safety nets and growth drivers.

Bolstering Outreach

How leaders in education can use digital marketing to boost student recruitment by CLAIRE ROPER-BROWNING

As something that started out as just face-to-face interactions with prospective students locally, student recruitment is now a deeply complex -as well as hugely competitive- business that includes tailored marketing plans, target segmentation, and a global approach to attract prospective students. And to extend outreach to students locally and beyond, digital marketing has become a key component of this outreach, and it has assumed a crucial role in the last few years, especially considering the unique challenges that schools and higher education have faced with the transition to online learning.

Digital marketing has helped schools reach out to students, parents, and other stakeholders with relevant information about online learning programs, course offerings, and schedules. While recruiters traditionally attracted new students through on-campus events and tours as well as in high schools and local communities, now, online activities are key to extending outreach to students from different segments, geographies, and more. However, with digital marketing constantly evolving, educational institutions need to be able to keep up with the latest trends and techniques; plus, they need to have a solid understanding of their target audience to be able to tailor their marketing efforts accordingly. In this backdrop, here are three tips that can help digital marketeers within the education sector:

1 /CREATE A COMPREHENSIVE DIGITAL

STRATEGY

To bolster outreach to students, a well-defined digital marketing strategy that outlines the university’s goals, target audience, key messaging, and platforms is key. This strategy should align with the university’s brand and values. The first step is to identify the objectives of digital marketing efforts. Common goals include brand awareness, boosting enrollment in specific programs, and enhancing engagement with prospective students. Secondly, it’s important to define the target audience according to factors such as age, location, academic interests, and demographics. Understanding the target audience helps tailor your messaging and content to resonate with them. Thirdly, it’s important to select the appropriate digital platforms based on where the target audience spends their time. This could include social media platforms, search engines, email, websites, and other online communities. For example, a study by Pew Research in 2021 shows that Instagram was the most used platform among youth between the ages of 18 and in the U.S., reaching 71%. As usage patterns continue to shift, it’s important that digital marketeers regularly look up data patterns.

2/FOCUS ON CONTENT MARKETING

Content marketing is a crucial component of a university’s digital marketing

strategy, as it involves creating and sharing valuable, relevant, and engaging content to attract and engage the target audience. The key to effective content marketing is addressing the needs and interests of the respective target audience through researching their pain points, questions, and interests to create content that resonates with them. For example, prospective students are usually interested in information about majors, application tips, scholarships, and campus culture. For example, a study by AECC Global, an international education consultancy, shows that Indian students seek degrees in science, technology, engineering, and mathematics (STEM) degrees such as business, management, mathematics, or computer science. Therefore, universities who are targeting Indian students interested in STEM should ensure highlighting these subjects as part of their content strategy.

3/ DEFINE YOUR KEY PERFORMANCE INDICATORS (KPIS) TO ASSESS THE SUCCESS OF DIGITAL MARKETING EFFORTS

Measurement and analytics

play a crucial role in evaluating the effectiveness of your university’s digital marketing efforts. Before tracking KPIs, digital marketeers should ensure they have clear benchmarks and goals for their digital marketing efforts. This could involve determining the desired percentage increase in website traffic, a target conversion rate, or a specific number of leads generated. By tracking KPIs, marketeers can gain insights into how well their strategies are performing, and make informed decisions to optimize their campaigns.

This includes monitoring website traffic to specific pages like program pages, admissions information, and campus tour pages. It also involves tracking metrics like bounce rate (the percentage of visitors who leave your site after viewing only one page), time on site, and pages per session to gauge how engaged visitors are with the content. Most importantly, the insights gained from analytics can help refine marketing strategies over time. For example, if universities find that certain channels are performing exceptionally well in attracting students, they could allocate more resources to this area.

In today’s dynamic landscape within education, digital marketing has emerged as a transformative force in expanding student outreach. By harnessing the power of tailored content, strategic social media engagement, and data-driven insights, universities can effectively connect with their target audience. Through a comprehensive digital strategy, institutions can showcase their unique offerings, engage with prospective students on various platforms, and measure success through key performance indicators. As the digital realm continues to evolve, embracing these methods not only augments student engagement, but also paves the way for a more inclusive and impactful educational landscape.

Claire RoperBrowning is the Regional Director of Marketing, Recruitment, Admissions and Communications at HeriotWatt University Dubai. hw.ac. uk/dubai

Short-Term Gains, Long-Term Losses

The pitfalls of hard selling on social media

by MITA SRINIVASAN

In an era dominated by social media, businesses find themselves navigating a digital landscape that thrives on meaningful connections and authenticity. While the allure of immediate sales through hard selling techniques may seem tempting, it’s essential to recognize that such an approach can often backfire, leading to long-term damage, rather than sustainable success.

Social media platforms are spaces where users seek engagement, valuable content, and connections. Bombarding users with relentless hard selling tactics disrupts this experience, and it erodes the trust that forms the foundation of any successful business-customer relationship. Trust takes

time to build, but it can be shattered in an instant when a brand comes across as insincere, or only focused on profits.

Successful businesses understand that their brand image extends beyond their products or services. It encompasses the values, personality, and emotions }}

associated with the brand. Hard selling often projects a desperate or pushy image, alienating potential customers who are more likely to engage with a brand that respects their preferences and interests. The heart of social media lies in its power to facilitate genuine conversations. Hard selling does little to encourage these interactions. By focusing solely on closing sales, businesses miss the chance to truly understand their audience’s needs, pain points, and desires. Engaging with customers on a more personal level allows for more effective tailoring of products or services to meet those needs.

} While hard selling might yield immediate sales, it often sacrifices long-term customer loyalty. Consumers remember negative experiences, and aggressive sales tactics can lead to them unfollowing or unsubscribing from a brand’s social media accounts. Prioritizing a short-term sales boost can ultimately undermine a business’s potential for sustainable growth.

} So, instead, what can you focus on?

Well, know that today’s consumers are more empowered and informed than ever before. They research products, read reviews, and seek recommendations from their social networks. Hard selling attempts can be off-putting in a landscape where consumers value transparency, honesty, and genuine engagement. Brands that provide value and authentic interactions are more likely to win over these savvy consumers.

The essence of social media is to forge connections. Successful businesses leverage these platforms to build relationships that extend beyond a transactional nature. By employing a softer, more authentic approach, brands can cultivate communities of loyal followers who not only purchase, but also advocate for the brand.

} A more effective strategy involves leveraging storytelling and content marketing. By crafting narratives that resonate with the target audience and

providing valuable information, brands can position themselves as industry authorities while subtly showcasing their products or services.

Also, remember that social media algorithms are in a constant state of evolution. They reward content that sparks meaningful interactions, and penalize overtly promotional content. Hard selling strategies can quickly become obsolete as platforms prioritize content that aligns with their evolving algorithms.

The modern business landscape demands a shift from hard selling on social media, to fostering authentic customer relationships. Trust, engagement, brand image, and long-term loyalty are built on meaningful interactions, rather than aggressive sales pitches. By embracing a softer approach, businesses can navigate the complexities of social media, harness its potential, and thrive in the age of digital connectivity. Oh, and it’s good for your public relations too!

Mita Srinivasan is the founder and Director of Market Buzz International.

With more than 30-years of experience in the Middle East, Mita is a communications specialist who lives and breathes technology. She set up Market Buzz to help B2B businesses of all sizes successfully leverage public relations (PR) and communications to establish a reputation in their key market segments. She has successfully assisted with the launch of new products, services, and startup companies.

Mita is also the online editor for SME10x, a B2B SME news portal, and a charter member at TiE Dubai, the local chapter for an international non-profit organization, fostering and supporting entrepreneurship through their key programs around mentorship and education, among others. Mita is an active proponent of social media, conducting training sessions and workshops to empower her clients, colleagues, and business partners to maximize the use of these creative tools for communication, and successfully building it into PR and marketing strategies. She loves giving back to the community, and is happy to mentor and support worthy causes. themarketbuzz.net

THE ESSENCE OF SOCIAL MEDIA IS TO FORGE CONNECTIONS. SUCCESSFUL BUSINESSES LEVERAGE THESE PLATFORMS TO BUILD RELATIONSHIPS THAT EXTEND BEYOND A TRANSACTIONAL NATURE.

Awards 2023

THE RECAP

The Sustainability Innovation Awards 2023, which was staged on August 31, 2023 at Sofitel Dubai The Palm, commended sustainability initiatives and projects across all business sectors in the Middle East.

Hosted by BNC Publishing, the media house behind Entrepreneur Middle East, the Sustainability Innovation Awards celebrated companies that have demonstrated

exceptional commitment to sustainability in a variety of industries including construction, real estate, architecture, design, logistics, transport, energy, hospitality, and others.

Organized in association with Platinum Partner Al Masaood, as well as Category Partners Fluidmeet and Numai Real Estate, the event brought together industry leaders, innovators, and changemakers who are committed to shaping a sustainable corporate future in the Middle East.

URBAN MOBILITY TRANSFORMATION AWARD / CAFU

Nature Conservation and Biodiversity Enhancement Award / IFZA

Sustainability Legal Pioneer Award / Ashish Mehta and Associates

Environmental Impact Champion Award / Greener by IHCC

Zero Plastic Initiative of the Year / Nothing Phone

Most Innovative Solution of the Year / FUGRO

Software/Digital Solutions Provider of the Year / HITEK Services

Electric Vehicle Truck Launch of the Year / Al Masaood (CVE)

Sustainable Initiative of the Year (Hospitality) / Rixos Group

Innovative Energy Project of the Year / Shams+ Power Project, Al Masaood

Sustainable Fit-Out Project of the Year / Airtel Design Infinity

Sustainable Mixed-Use Development Project of the Year / Red Sea Destination, KEO International Consultants

Retrofit Project of the Year / Retrofit and refurbishment of AC works for 56 buildings in Dubai’s Discovery Gardens, Bin Dasmal Engineering Technologies & Management Co. LLC Energy Project of the Year / 100 MW green hydrogen plant in Egypt, Orascom Construction Integrated Utilities Company of the Year / Marafiq (for its non-revenue water project)

Green Company of the Year / Oman Cables Industry

Green Ports Company of the Year / Abu Dhabi Ports Green Consultant Company of the Year / AECOM

Sustainable 3D Printing Company of the Year / 3DXB Group

Sustainable Facilities Management Company of the Year / Farnek

Sustainable Contractor of the Year / Sobha Constructions

Sustainable Hotel Group of the Year / Fairmont Hotels and Resorts

Woman Professional of the Year / Dr. Maryam Al Ficociello, Group Chief Governance Officer, Red Sea Global

Eco-Friendly Professional of the Year / Laure Russier, Middle East Director for Environment, Water and Port and Energy, EGIS Group

Sustainable Industry Leader of the Year (Logistics) / Hani El Tannir, CEO, Al Masaood Group Industrial

Renewable Energy Leader of the Year / Joumana Hosri, CEO - Middle East, Sacotel Znshine

Sustainability Leader of the Year / Farah Naz, Director of Innovation and ESG, Aecom CEO of the Year (F&B) / Eugene Willemsen, CEO of Africa, Middle East, South Asia at PepsiCo CEO of the Year (Developer) / John Pagano, Group CEO, Red Sea Global Visionary Leader of the Year / Sultan Batterjee, CEO, IHCC

BNC PUBLISHING CEO Wissam Younane

WINNERS of Sustainability Innovation Awards 2023

PHOTOGRPAHY: FAROOQ SALIK

SUSTAINABLE INDUSTRY LEADER OF THE YEAR (IN LOGISTICS) Hani El Tannir, CEO, Al Masaood Group Industrial INTEGRATED UTILITIES COMPANY OF THE YEAR – Marafiq

LEGAL PIONEER AWARD Ashish Mehta & Associates

INNOVATIVE ENERGY PROJECT OF THE YEAR Shams+ Power Project Al Masaood

Dr. Maryam Al Ficociello, Group Chief Governance Officer, Red Sea Global

NATURE CONSERVATION AND BIODIVERSITY ENHAMCEMENT AWARD - IFZA

SUSTAINABLE HOTEL GROUP OF THE YEAR - Fairmont Hotels and Resorts

ELECTRIC VEHICLE TRUCK LAUNCH OF THE YEAR - Al Masaood (CVE)

SUSTAINABLE INITIATIVE OF THE YEAR (HOSPITALITY) - Rixos Group

RENEWABLE ENERGY OF THE YEAR - Joumana Hosri,

SUSTAINABLE FIT-OUT PROJECT OF THE YEAR - Airtel

SUSTAINABLE MIXED-USE DEVELOPMENT PROJECT OF THE YEAR - Red Sea Destination KEO International Consultants

ENVIRONMENTAL IMPACT CHAMPION AWARD - Greener by IHCC

ENERGY PROJECT OF THE YEAR - 100 MW Green Hydrogen Plant Orascom Construction

Design Infinity

CEO Middle East, Sacotel Znshine

SUSTAINABILITY LEADER OF THE YEAR - Farah Naz, Director of Innovation and ESG, Aecom

CEO OF THE YEAR

(DEVELOPER) John Pagano, Group CEO, Red Sea Global

RETROFIT PROJECT OF THE YEAR - Discovery Gardens 56 - Buildings Retrofit & Refurbishment of AC works, Bin Dasmal Engineering Technologies & Management Co. LLC

URBAN MOBILITY TRANSFORMATION AWARD - Cafu

ECO-FRIENDLY PROFESSIONAL OF THE YEAR - Laure Russier, Middle East Director for Environment, Water and Port and Energy, EGIS Group

GREEN CONSULTANT COMPANY OF THE YEAR - Aecom

GREEN COMPANY OF THE YEAR - Oman Cables Industry

SOFTWARE/DIGITAL SOLUTIONS PROVIDER OF THE YEAR - HITEK Services

CEO OF THE YEAR (F&B) - Eugene Willemsen, CEO of Africa, Middle East, South Asia at PepsiCo. (accepted on his behalf)

A New Point of View

Emirati entrepreneur Abdulla Al Kamda is hoping to revamp the customer rewards model with the launch of his UAE-based cash back platform Homie by AALIA MEHREEN AHMED

→ Abdulla Al Kamda is the founder of Homie, a cashback platfrom that offers users the opportunity to save money and earn rewards on their everyday spending.

When Abdulla Al Kamda observed how rising consumer prices and the repercussions of global inflation weighed heavy on the average UAE consumer’s personal finances, he found himself pondering on potential solutions for alleviating such worries. And that’s what led this Emirati entrepreneur to build Homie, a cash back platform that would not just ease daily financial strains, but also prove to be a worthy companion to its users- a homie, if you will. “Homie is not just a platform; it’s a revolutionary ‘super’ cash back platform acting as a constant financial ally to the users,” Al Kamda says. “The word ‘homie’ is used to refer to a close friend, and that’s precisely the role we envisage our platform playing in our users’ lives - a reliable and supportive friend that is there for them, helping them make the most out of their financial interactions and daily transactions. Its inception is therefore deeply rooted in a vision to reshape consumer experiences, allowing them to transform their essential spending habits into essential earning habits, fostering financial well-being and autonomy.”

Set to be launched in the final quarter of 2023, Homie offers consumers the opportunity to earn cash back every time they pay a merchant affiliated with the brand. Operating across services in retail, dining, lifestyle and hospitality, the startup has already signed partnerships with 200 merchants, which include regional hospitality giants like Atlantis The Palm, Sofitel Hotels and Resorts, and Four Seasons. “Our fundamental business model is to ensure that cash back is seamlessly integrated and accessible across a multitude of services and verticals inspired by the daily life of our users,” Al Kamda says. “We charge a minimal subscription fee of AED30 per month from our users. This fee is structured to be user-friendly, and it is easily recoverable, thanks to the substantial cash back percentages that Homie offers. Users typically recover the subscription cost within the first two transactions each month, making it a value-for-money proposition for them. And so, whether you’re enjoying a meal at a restaurant, indulging in retail therapy, experiencing enriching lifestyle services, or staying at top-notch hotels, Homie ensures that every experience is rewarding with cash that is actually accessible.”

→ According to Al Kamda, the Homie platform is not just a platform, but a revolutionary cash back platform that aims to be a constant companion and a financial ally to its users.

Now, if you’re quick to assume that Homie is just another rewards platform, then perhaps Al Kamda’s claim that his platform “doesn’t have competitors in this space” might make you want to reconsider. “Homie stands out in a crowded market of reward and loyalty services by redefining the essence of rewards- we’re not just another loyalty platform; we’re a ‘must-have,’” Al Kamda says. “The level of cash back we offer is unparalleled, extending unprecedented value to every user. But the distinctiveness of Homie doesn’t just stop at high percentages of cash back; it’s about the immediacy and the tangibility of the rewards. Our model is ‘Cash Bank,’ meaning the cash back is not just points or credits; it’s real money deposited directly into the users’ wallets. This makes us the pioneer in transforming rewards into immediate financial empowerment for the customer.”

Here, Al Kamda adds that Homie’s model also makes it a more enticing option in comparison to perhaps the most used rewards tools in the UAE: discounts and coupons. “The reason we believe so profoundly in cash back over discounts or coupons is its straightforward, tangible value,” he continues. “Discounts and coupons come with conditions and limitations, and their value is often diluted. However, cash back -especially at Homie’s rates- provides clear, immediate value, directly impacting and benefiting the users’ financial well-being, making it a modern, usercentric reward model. For example, at the end of your dining experience, you choose to pay directly with the Homie

app instead of any other payment option. The transaction goes through, and you will instantly receive the percentage of cash back in your wallet. You can choose to use your cash back in any way you want: you can save by collecting more cash back, you can pay your bills, or simply withdraw it back into your bank account.”

But don’t let the technicality of it all confuse you into thinking Homie is reserved for a certain type of consumer- Al Kamda says that the platform has been built for pretty much anyone looking to optimize their finances. “Whether you are a student, a working professional, or a retiree, if you seek value and savings in your everyday expenditures, Homie is your go-to platform,” the founder declares. “By injecting the innovative concept of a ‘super’ cash back platform into this dynamic environment, we anticipate a ripple effect where consumers are more empowered and mindful in their spending, seeking value in

every transaction. This not only reshapes consumer behavior, but also redefines the market landscape, pushing businesses to realign their strategies, with consumer well-being and value creation at the forefront.”

Indeed, beyond the benefits offered to consumers, Homie’s mission also encompasses the financial wellbeing and longevity of the merchants it

partners with. “The relationships we forge with various merchants and service providers play a pivotal role in our business model,” Al Kamda explains. “When merchants offer enticing cash back through Homie, they observe a significant surge in customer visits. This increased footfall is not just about numbers; it’s about building relationships. It’s about customers choosing

them over competitors, because they feel valued and rewarded. Moreover, with every cash back redeemed, the customer acquisition cost for merchants decreases substantially. It’s a cycle of giving and receiving. When merchants give back to the customers through lucrative cash back, customers reciprocate by becoming loyal patrons, often preferring them over others. }}

OUR FUNDAMENTAL BUSINESS MODEL IS TO ENSURE THAT CASH BACK IS SEAMLESSLY INTEGRATED AND ACCESSIBLE ACROSS A MULTITUDE OF SERVICES AND VERTICALS INSPIRED BY THE DAILY LIFE OF OUR USERS.

This, in turn, elevates the merchant’s brand presence and reputation in the market.”

Having thus created a platform that can become a financial ally to those that make use of it, Al Kamda says the initial funding for the venture was solely from his personal savings. But in a heartwarming revelation, the founder adds that there’s been yet another “inheritance” that has helped him realize his entrepreneurial vision. “I would add to this the invaluable life lessons from the cherished mindset of my late father, Ahmad Mohammad Al Kamda- a man whose values and wisdom continue to be the guiding light of my journey,” the entrepreneur says. “He was a beacon of strength and resilience, and he always emphasized the importance of contributing to the well-being of our community. It’s his teachings that inspired me to channel my funds into creating Homie, a platform that stands as a testament to his values, prioritizing community well-being and empowerment over personal gain. While the journey involved significant risks, the opportunity to honor my father’s legacy, and make a lasting, positive impact was

the driving force behind the inception of Homie.”

As Al Kamda now prepares to see Homie officially enter the market, he seems to have already embraced the opportunity to navigate uncertain territory. “What excites me most is the potential impact of Homie on the everyday lives of the people in the UAE, and, eventually, globally,” he says. “It’s about creating a platform that empowers individuals financially, fosters a sense of community and mutual support, and reshapes consumer experiences in a way that brings tangible value and relief in the face of rising economic pressures. Moreover,

the journey ahead promises continuous learning, innovation, and growth. Navigating the challenges, adapting to the evolving market needs, and staying ahead in delivering unmatched value is a thrilling prospect. It’s about pushing the boundaries of what’s possible, and setting new standards in the fintech space.” And at the heart of Al Kamda’s vigor and entrepreneurial ambitions lie his hopes to honor his motherland, the UAE. “Embarking on this entrepreneurial journey with Homie is not just about realizing a personal vision; it’s about giving back to the country that has provided me with immense

opportunities and support,” Al Kamda says. “So, the excitement [for the future] emanates from a deep sense of gratitude and responsibility to make a meaningful contribution to our community, and to elevate the technological landscape of our nation. The aspiration to see Homie become a prominent force in the global tech industry is going to be a journey of unwavering commitment to excellence, a relentless pursuit of impact, and a resolute vow to never stop until Homie stands as a testament to what is achievable when passion meets purpose, and gratitude converges with responsibility.”

CASH BACK -ESPECIALLY AT HOMIE’S RATES- PROVIDES CLEAR, IMMEDIATE VALUE, DIRECTLY IMPACTING AND BENEFITING THE USERS’ FINANCIAL WELL-BEING, MAKING IT A MODERN, USERCENTRIC REWARD MODEL.

↑ Homie Dog, the brand's mascot serves as a symbol of friendship and loyalty, deeply rooted in the brand values of Homie. The platform has thus been curated to appeal to a broad spectrum of individuals- from students, to working professionals and even retirees.

A New Chapter

UAE-based digitally-focused independent music marketing and distribution agency Chabaka gets acquired by Universal Music Group by TAMARA PUPIC

This year has given Tarek Makki two reasons to celebrate as an entrepreneur– firstly, 2023 marked the tenth anniversary of Chabaka, a digitally-focused music distribution business that he had set up with his brother, Ala’a Makki, in 2013 to empower independent artists and labels in the region. Secondly, the year has also seen him achieve a successful exit by selling Chabaka to California-headquartered music and entertainment company, Universal Music Group (UMG).

In the ten years that have passed since Chabaka launched, the Makki brothers have opened offices in the UAE, Lebanon, Egypt, and Tunisia, signed more than 150 independent artists and local labels across the MENA region, and eventually got Chabaka to become known a go-to-place for regional artists looking for digital distribution, marketing, publishing, and label and artist services. All of this resulted in UMG deciding that Chabaka was a business worthy of acquiring, and while the details of the

← (From left to right) Patrick Boulos, CEO - MENA, UMG, Adam Granite, Executive Vice President, Market Development, UMG, J. T. Myers, Co-CEO, Virgin Music Group, Tarek Makki, co-founder, Chabaka, and Ala’a Makki, co-founder and CEO, Chabaka, at UMG’s London office.

consequent deal have not yet been disclosed, Tarek believes that one of the reasons why an international giant like UMG decided to acquire his business was a nod to the MENA region’s recording industry being at an inflection point. Data from the International Federation of the Phonographic Industry shows that this sector in the region recorded the world’s fastest revenue growth of 34% in 2021, and it went on to rank third in the world with a growth of 23.8% in 2022.

}As such, when it came to exiting their business, the Makki brothers were on the lookout for a partner who could take the business to new heights, but who would also safeguard the artists’ interests, and bring them new upstreaming opportunities. When asked about his tips for entrepreneurs seeking acquisitions as a way forward for their startups, Tarek replies, “Our advice is to genuinely understand the value of your company, and have a clear vision for your next phase. It is also important to build a strong management team, and delegate responsibilities. This not only ensures a smoother transition, but also demonstrates the potential for growth beyond your leadership.” Tarek also points to building strong and long-term relationships in the digital content industry as being a crucial aspect for the success Chabaka has seen. “Through our CHBK Group, which includes Chabaka, Concast, and Boomerang Studios, we nurtured relationships with platforms, media outlets, production houses, artists,

and labels,” he says. “This not only helped us in building a unique offering, but it also created a sense of trust for Chabaka within the industry.”

}Following the acquisition, Chabaka will now become a part of UMG’s Virgin Music Group, where it will work closely with the local Virgin and UMG teams in the region. Co-founder and CEO Ala’a will continue to lead the company and grow its presence across geographies and business lines, and all of Chabaka’s 35-strong staff will remain employed by UMG. Meanwhile, Tarek will act only as an advisor; however, he will also continue to lead Concast and Boomerang Studios, the other two companies within the CHBK Group, which will now

rebrand given the acquisition of Chabaka. As for the road ahead, the Makki brothers envision a bright future for the music industry, and especially streaming in the MENA region. “For example, people living in the UAE listen to an average of 22.5 hours of music a week, 22% higher than the global average,” Tarek says. “More than 480 million Arabic speakers live in the Arab countries, and with a huge global Arab diaspora maintaining its connection to its roots, this market has significant room for growth, particularly as the MENA region only accounts for 0.4% of global music revenues currently.”

}Now, with an aim to continue Chabaka’s success story, Ala’a says that he will

remain focused on the three pillars that have proved effective for their business to date- these include staying true to their original vision, making sure that they work with the best team, and ensuring that innovation and creativity remain at the centre of their work. “While adapting to an ever-changing and evolving industry is crucial, staying true to our vision has been equally important,” Ala’a says. “We’ve remained committed to our goal of empowering independent artists in the MENA region, and this focus has guided our decisions and actions throughout the years. The journey with Chabaka also emphasized the importance of assembling a talented, dedicated, and passionate team. And lastly, staying innovative is key.”

MORE THAN 480 MILLION ARABIC SPEAKERS LIVE IN THE ARAB COUNTRIES, AND WITH A HUGE GLOBAL ARAB DIASPORA MAINTAINING ITS CONNECTION TO ITS ROOTS, THIS MARKET HAS SIGNIFICANT ROOM FOR GROWTH.

→ (From left to right) Adam Granite, Executive Vice President, Market Development, UMG, Tarek Makki, co-founder, Chabaka, J. T. Myers, Co-CEO, Virgin Music Group, Ala’a Makki, co-founder and CEO, Chabaka, and Patrick Boulos, CEO – MENA, UMG, at UMG’s London office.

SHARED SUCCESS

As trade relations between Canada and the UAE flourish, the collaboration is creating paths for significant growth by DEVINA DIVECHA

Amidst the ever-evolving landscape of international trade and investment, the relationship between Canada and the UAE looks to be a solid bond that continues to grow stronger with great potential for the future.

Take the figures alone, which are clear proof of the work being done between these two trade powerhouses. Statistics

Canada’s recent data reveals that bilateral trade between Canada and the UAE was up by 1.6% in the last year. This is certainly not a one-off; this trend is holding strong in 2023, with significant increases seen in just the first few months.

significant presence in the UAE’s investment landscape. What’s particularly interesting about the Canada-UAE partnership is that it’s not restricted to a singular industry; instead, it stretches across a range of sectors. In fact, the Consulate General’s sectors of focus include infrastructure and services, clean technologies, oil and gas, health and life sciences, agriculture and agri-food, and consumer products.

Furthermore, bilateral investment has also grown, with an impressive 9% increase in the last year.

Lindsay Margenau, Counsellor (Commercial) and Senior Trade Commissioner at the Consulate General of Canada in Dubai, says, “Canada sees tremendous opportunity in

the UAE, as evidenced by a number of significant investments like the investment made by Caisse de dépôt et placement du Québec (CDPQ) in DP World, and Brookfield Asset Management’s recent purchase of Network International.”

Dubai also recently released its 2022 foreign direct investment (FDI) figures that show more impressive news: Canada is the top source country for FDI capital, accounting for a staggering 41% of total flows. This can be attributed to the CDPQ investment, which underscores Canada’s

The potential for collaboration between Canadian companies and their UAE counterparts, especially for SMEs and startups, is significant, Margenau adds. Over the years, the UAE has solidified its position as a global trade and investment hub; in light of this, Canadian companies have come to view the UAE as a land of opportunity. “Our sense is that the UAE views Canada as a source of great technology and innovation, and is keen to partner with Canadian expertise and talent,” she adds. Looking ahead to the latter half of 2023, the Consulate General of Canada in Dubai has its sights set on several events and platforms to strengthen Canada’s presence in the UAE. “The UAE’s hosting of the 28th edition of the Conference of the Parties of the United Nations Framework for Climate Change (COP28) is a priority for Canada,” Margenau reveals. “Active participation will highlight Canada’s ambitious climate commitments, leverage our international leadership on climate finance, and feature Canada’s innovation in clean tech and energy.”

Here, Margenau notes that sustainability is at the core of her nation’s international

mandate. “Canada and the UAE are in many ways aligned in our approach to the response to climate change,” she notes. “We both have targets for Net Zero by 2050 and significant targets to hit to mitigate the effects of climate change.”

Besides COP28, Canada is also set to participate in trade shows and business events like GITEX Global, ADIPEC, Dubai Airshow, Arab Health, and Gulfood, where it hopes to further generate opportunities for collaboration between both countries.

This collaboration touches the human resources sector as well. The UAE’s dynamic environment has attracted over 40,000 Canadians, including entrepreneurs who have established businesses in the country. “Canadians in the UAE are fostering innovation; for example, building ecosystems to support the growth of other startups or mentor business leaders,” Margenau says. “Canadians also bring Canadian talent to the market. A number of firms in the UAE, from large to small, value the talent that Canadians continue to demonstrate in leadership roles across a wide spectrum of fields.”

The impact of Canadian education is also palpable, with Canadian curriculum schools as well as the acclaimed Canadian University Dubai offering high-qual-

ity education to UAE residents. Conversely, residents from the UAE are also looking towards Canada’s world-class education system. “Canada offers world-class educational programs among its 200 colleges and 100 universities,” Margenau says. “Increasingly, our schools are focusing their courses and programs on training in entrepreneurship, and residents of the UAE have taken note. In 2022, we received applications to study in Canada from roughly 5,000 UAE residents, which was double what we received in 2017, and the number continues to grow.”

Canada is actively fostering people-to-people ties through air travel as well, which, in turn, pave the way for more entrepreneurial opportunities. An expanded air transportation agreement }}

OUR SENSE IS THAT THE UAE VIEWS CANADA AS A SOURCE OF GREAT TECHNOLOGY AND INNOVATION, AND IS KEEN TO PARTNER WITH CANADIAN EXPERTISE AND TALENT.

↑ Lindsay Margenau, Counsellor (Commercial) and Senior Trade Commissioner at the Consulate General of Canada in Dubai

→ NGOZI NZEKWUE , CEO, Hatfield Solutions

(ATA), signed in April 2023 between Canada and the UAE has led to increased direct flights between the two countries. This has seen a marked increase in routes linking Abu Dhabi and Dubai to Toronto, Montreal, and Vancouver. “These direct links allow for expanded business opportunities, tourism, and cultural understanding,” Margenau adds.

In addition to growing collaborations, Canada is also committed to inclusive trade and trade diversification. “Trade works best when everyone benefits,” Margenau explains.

“Canada is advancing an inclusive approach to

trade that seeks to ensure that the benefits and opportunities that flow from trade are more widely shared– including with those who have traditionally been under-represented in international trade and investment, including women, small and medium-sized enterprises (SMEs), and Indigenous peoples.” As Canada and the UAE continue to strengthen their partnership, the stage is set for a future marked by innovation, collaboration, and shared success.

“Canada seeks trade policies that are sustainable, transparent and inclusive,” Margenau concludes.

Devina Divecha is an independent writer, editor, emcee and media consultant, specialising in the hospitality and F&B industry. With more than 10 years of experience under her belt, her work has appeared in a number of publications including Skift, SUPPER, HOTELSmag, Destinations of the World News, Spinneys Magazine, Entrepreneur Middle East, and more. She holds a BSc in Business from the London School of Economics and an MA in Magazine Journalism from the University of Sheffield. devinadivecha. com

CANADIANS ALSO BRING CANADIAN TALENT TO THE MARKET. A NUMBER OF FIRMS IN THE UAE, FROM LARGE TO SMALL, VALUE THE TALENT THAT CANADIANS CONTINUE TO DEMONSTRATE IN LEADERSHIP ROLES ACROSS A WIDE SPECTRUM OF FIELDS.

Opportunities calling

A look at the avenues that offer opportunities for Canada to stand out in the UAE:

}AGRICULTURE AND AGRIFOOD Canada supplies a significant amount of the UAE’s food, and both nations are working to enhance supply chains and logistics.

}CLEAN TECHNOLOGY AND SUSTAINABILITY

With the COP28 focus on sustainability, Canadian companies see opportunities to work with companies in the UAE to propose sustainable solutions for the world.

}OIL AND GAS

Canada has great expertise in services to the oil and gas sector,, which it will leverage to drive progress.

}INFRASTRUCTURE AND SERVICES

Well-known Canadian names such as WSP, Brookfield, and Hatch all have significant projects in the UAE.

In the Loop/

A Celebration of Entrepreneurship

Fearless Fab Flamingo, a UAE-based entrepreneurial community for Filipino women, hosted the Fearless Summit 2023 -billed as the first Filipino entrepreneurial summit in Dubai- in August this year.

Launched in 2021 by Ethel Bruwer, co-owner of The Bruwer Group & Co., Fearless Fab Flamingo has organized several events centered around the UAE’s Filipino entrepre neurial community, with the Fearless Summit 2023 being its latest undertaking.

Held at Dubai Festival Plaza, the two-day summit convened over 2,000 guests including entrepreneurs, business leaders, as

→ Ethel Bruwer, founder, Fearless Fab Flamingo