International A new VC firm announces $100 mn fund for Middle East, Asia, US

The Fenox Global Fund IV will seek to invest in information technology startups - including Internet, computer hardware and software, communications, and healthcare technology.

DUBAI: A new venture fund 'Fenox Global Fund IV' seeks to invest US $ 100 million in the US, Asia and the Middle East.

The fund has been established by Fenox Venture Capital, a global investment firm headquartered in Silicon Valley, in partnership with Innovation 360, a leading innovation consultancy based in Dubai, UAE.

The investment would be undertaken in seed, Series A and pre-IPO funding, according to a report.

Fenox's current investment portfolio includes those in Dream Link Entertainment (DLE), the largest animation company of its kind in Japan that recently executed anIPO on the Tokyo Stock Exchange, and Lark, a wearable technology company whose products are now sold at Apple stores around the world.

Now open to investors in the Middle East, the Fenox Global Fund IV will seek to invest in information technology startups - including Internet, computer hardware and software, and communications - as well as startups in the area of healthcare technology and clean tech.

The fund strategy is to invest in a mix of start-ups in need of seed and Series A funding in the Middle East, pre-IPO companies from Asia, and seed and Series A start-ups in the US - particularly Silicon Valley.

"We are breaking new ground in the Middle East with the Fenox Global Fund IV. I know of no other time that aSilicon Valley VC has used capital from Middle East investors to promote entrepreneurship in the local region," Brent Traidman, General Partner at Fenox, said.

Kamal Hassan, Fenox General Partner and president of Innovation 360, said: "Fenox sees the huge opportunity for growth in the MENA (Middle East and North Africa) region, and so we are offering funding and expertise to a few best-in-class regional startups who we believe will provide significant long-term gain.

"However, by also investing in more mature companies from Silicon Valley and Asia, the fund will diversify the investors' portfolio and create a greater return for investors," said Hassan.

Fenox has a track record of investing in global businesses from around the world, having managed funds that focus on entrepreneurial development in South Korea, Singapore, Japan, Indonesia and China.

Zoomaal : a crowdfunding platform for Arabia

Zoomaal brings crowdfunding revolution to Arabia. Crowdfunding has taken the world by storm, giving people a new way of choosing which products they want to see developed. Its also a new way to fund projects from thousands of people who simply want to see ideas come to life. Worldwide crowdfunding is collecting over 250 million US dollars per year. It brought to the world projects like Pebble Watch, UAE's Infenitec, and over 10% of Sundance movies this year were produced through Crowdfunding. We will also see the future of videogames through crowdfunding in the form of the virtual reality device “Oculus Rift” and the budget open game console “OUYA”. Here is a chance for Arabs to choose and shape the future too Zoomaal crowdfunding platform allows inventors and creatives of Arabia to showcase their projects and raise funds from individuals. Users on the site can pledge as little as $5 each. With many people wanting a project and pledging, the money to get the project up and running won't be a problem. Zoomaal will focus mainly on Arabia and will offer a donation-based model where projects will have to offer gifts to their donors, not to be confused with crowdsourced equity investment. Zoomaal focuses on projects, rather than startups looking for funding. As there are many students and entrepreneurs that do not necessarily have business and entrepreneurial skills that attract investors and sponsors, but rather a great idea or project that many need and are willing to support. To view Zoomaal's website, visit the link: www.zoomaal.com “Zoomaal is not a clone of Kickstarter or Indiegogo, but rather a platform that aims to support and grow the creative culture in the Middle East. Zoomaal connects the creative Arab youth with supporters around the world, in Arabia and expatriates in the US, UK, and Canada”, Abdallah Absi says, CEO of Zoomaal. "We are excited to be working together with other investors in the region and founder Abdullah Absi to bring crowdfunding to Arabia. Our region has a long history of nurturing inventions and discoveries. Zoomaal is not just about funding projects, but it is a platform that will allow people all over to support inventions and discoveries - giving them a practical way to grow this culture of innovation.", Rashid AlBallaa says, CEO of N2V. More about N2V: N2V is one of the largest Internet holding groups in Arabia, focused on value creation through building and investing in Arabic consumer web & mobile ventures (e-commerce, Arabic content, social media, games, mobile apps), with over 200 employees spread in offices around different Arab countries (Saudi, UAE, Jordan, Egypt, Bahrain) and the USA. More about Abdallah Absi: Abdallah Absi is a young serial and social entrepreneur that aims at raising new generations of Arab entrepreneurs. He is the CEO of Zoomaal and the President of the Entrepreneurship Club NGO in Lebanon. Abdallah has won various awards in entrepreneurship and computer science. You can add him on LinkedIn: http://lb.linkedin.com/in/abdabsi 5

MIT Enterprise Forum Arab Startup Competition - 3 Tracks

http://www.mitefarab.org/2013/10/mit-enterprise-forum-arab-startup-competition/ The MIT Enterprise Forum Pan Arab has a proven record in promoting MIT-style entrepreneurship by organizing each year the MIT Enterprise Forum Arab Startup Competition, in partnership with Abdul Latif Jameel Community Initiatives, targeting 21 countries of the Arab region and bringing in more than 4,000 applications a year. The competition has trained over 900 entrepreneurs and has helped start more than 200 knowledge-based and technology-driven companies in Yemen, Jordan, Lebanon, Saudi Arabia, UAE, Tunisia and others. The website is now open for applicants. Do you have a new business idea, a startup or a growing company that you want to take to the next level? Apply now: www.mitarabcompetition.com IDEAS Track For entrepreneurs with just ideas looking to take them to the next level See the questions for the Ideas Track here. Eligibility Criteria for the Ideas track You can apply as an individual or part of a team provided that at least one member is an Arab national The business idea should be implemented in one of the Arab world countries Your idea can be in any sector (Creative industries, Construction/Engineering/ Education/ Environment/Food and Agro Business/Health and Healthcare/Entertainment/ICT/Services, etc.) No registration; No prototype; No funding; No sales The new Rolling Application System Website opens on October 28th and closes by the time the 50 semi-finalist teams are selected You are strongly encouraged to apply REAL EARLY to make the most out of the rolling process A higher chance to get selected if you apply early We are looking for a total of 50 semi-finalists for the ideas and startups tracks, so these slots get filled up quickly as we judge and qualify applicants especially that the judges evaluate applications as they come in, instead of waiting to review all applications concurrently A Second Chance to Apply: With a rolling process, applications will be reviewed as soon as they are submitted. You are likely to hear back from us within 3 weeks (instead of the usual 3 months from previous years), giving you another chance to adjust your entries and reapply. Grading Round 1 Judges evaluate applications as they come in Each application will be reviewed by 3 judges based on innovation, scalability, and positive social impact. Applications receiving an average grade above 70/100 shall qualify to the next round Selection Criteria Innovation: Creativity and improvement of existing solutions and/or business processes with respect to current competitors or comparables. Within this definition, innovation does not necessarily mean technology. Scalability: A business idea should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business could easily be replicated regionally or globally as the company expands. Impact: This innovative business idea has the potential to become a landmark company in the region and make an impact on the region’s economy or perceived competitiveness. Semi-finalists will be automatically assigned a local coach to work closely with them in view of achieving the deliverables set for each track prior to attending the 3-day workshop. Deliverables for the Ideas Track Developing a working prototype Securing at least one client Forming a team and selecting board of advisors Submitting an executive summary Workshop: March 2014 Following ~4 months of preparations and working toward achieving common deliverables, the 50 semi-finalists of the Ideas & Startups tracks will sit for a 3-day training covering topics such as business planning, sales, finance, marketing, elevator pitching, presentation skills, etc. Finalist Teams At the workshop, Round 2 judges will choose out the finalists teams from the Ideas & Startups Tracks 50 semi-finalists and qualify them for the final round of oral presentations Final Round Oral Presentations: March 2014 On day 3 of the workshop, the participants from the ideas and startups tracks will have to pitch in front of a judging panel. Names of the Final Jury members will be announced in due time. Final Award Ceremony The winning teams are then announced during a Final Award Ceremony on March 27th, 2014 —————————————————————————————————————- STARTUPS Track For startups with a working prototype, ideally with some user traction and some sales See the questions for the Startups Track here. Eligibility Criteria for the Startups track At least three team members (at least one of the members should be Arab national) The startup should be registered in one of the Arab world countries Your idea can be in any sector (Creative industries, Construction/Engineering/ Education/ Environment/Food and Agro Business/Health and Healthcare/Entertainment/ICT/Services, etc.) Working Prototype ready, ideally with some user traction and some sales The new Rolling Application System Website opens on October 28th and closes by the time the 50 semi-finalist teams from the Ideas & Startups tracks are selected You are strongly encouraged to apply REAL EARLY to make the most out of the rolling process A higher chance to get selected if you apply early We are looking for a total of 50 semi-finalists for the ideas and startups tracks, so these slots get filled up quickly as we judge and qualify applicants especially that the judges evaluate applications as they come in, instead of waiting to review all applications concurrently A Second Chance to Apply: With a rolling process, applications will be reviewed as soon as they are submitted. You are likely to hear back from us within 3 weeks (instead of the usual 3 months from previous years), giving you another chance to adjust your entries and reapply. Grading Round 1 Judges evaluate applications as they come in Each application will be reviewed by 3 judges based on innovation, scalability, and positive social impact. Applications receiving an average grade above 70/100 shall qualify to the next round Semi-finalists will be automatically assigned a local coach to work closely with them in view of achieving the following deliverables set for each track prior to attending the 3-day workshop Selection Criteria Innovation: Creativity and improvement of existing solutions and/or business processes with respect to current competitors or comparables. Within this definition, innovation does not necessarily mean technology. Scalability: A business idea should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business could easily be replicated regionally or globally as the company expands. Impact: This innovative business idea has the potential to become a landmark company in the region and make an impact on the region’s economy or perceived competitiveness. Deliverables for the Startups Track Deliverables of the IDEAS track should all be met, plus Submitting a 10-15 page business plan Getting ready to pitch for VCs Workshop: March 2014 Following ~4 months of preparations and working toward achieving common deliverables, the 50 semi-finalists of the Ideas & Startups tracks will sit for a 3-day training covering topics such as business planning, sales, finance, marketing, elevator pitching, presentation skills, etc. Finalist Teams At the workshop, Round 2 judges will choose out the finalist teams from the Ideas & Startups Tracks 50 semi-finalists and qualify them for the final round of oral presentations Final Round Oral Presentations: March 2014 On day 3 of the workshop, the participants from the ideas and startups tracks will have to pitch in front of a judging panel. Names of the Final Jury members will be announced in due time. Final Award Ceremony The winning teams are then announced during a Final Award Ceremony at the end of Day 3. ——————————————————————————————————————— Global Track For established companies seeking Silicon Valley exposure and funding from international VCs See the questions for the Global Track here. Eligibility Criteria for the Global track At least 3 out of the 4 below requirements MUST be met: 1. Legally registered company, ideally with 2 years in operations. 2. Raised at least one round of funding (through an accredited Angel Investor or a VC firm) 3. Has global reach or presence. 4. Generates at least $500K/year in revenues. Mandatory: Provide a recommendation letter from one of our trusted partners: Abdul Latif Jameel Community Initiatives,Techwadi, Wamda, Flat6Labs, Endeavor, and Oasis500. Selection Process Submitted applications will be screened; the shortlisted candidates will be interviewed. 30 Finalists will be selected from the region and will be granted the opportunity to go on a 3-day Silicon Valley conference and roadshow during April 2014. Silicon Valley Conference and Roadshow, April 2014 Day One: Workshop with top entrepreneurs Discussing the latest insights and trends in the tech and digital worlds with industry leaders Hands-on training on key topics; scaling operations across regions, sales, hiring new staff, in-bound marketing, fundraising, etc. One-to-one coaching sessions with experts in their fields Day Two: Touring Key Locations: Google HQ office tour, Facebook Campus, Apple and Airbnb offices. Visiting other entrepreneurship hubs: hacker and coworking spaces, tech shops, 500 startups, TechStars and meeting up with key people there. Day Three: Speed dating with: a)Top VCs b) A-Level Mentors Conference followed by pitching event and dinner.

the MIT Enterprise Forum of the Pan Arab Region

Founded in 2005, the MIT Enterprise Forum of the Pan Arab Region is one of the 28 worldwide chapters of the MIT Enterprise Forum Global, an avid promoter of entrepreneurship and innovation worldwide. The MIT Enterprise Forum- Pan Arab has a proven record in promoting MIT-style entrepreneurship by organizing each year the MIT Enterprise Forum Arab Startup Competition (www.mitarabcompetition.com), in partnership with Abdul Latif Jameel Community Initiatives, targeting 21 countries of the Arab region, bringing in more than 5,000 applications a year and engaging entrepreneurs in mentorship and networking.

Catalysing social enterprises in the UAE

While the concept of 'social enterprise' is relatively nascent in the Middle East, the UAE has played a particularly significant role in supporting it, not only by hosting various platforms that support networking and sharing best practice but also driving forward the discussion on enabling environments. Research indicates that social entrepreneurs need support from multiple sectors if they are to be successful including the government, private and even education sectors. Governments play a particularly important role by providing a suitable enabling environment. Collaboration from the private sector is also vital because social entrepreneurs borrow so much from the principles of successful businesses. And, even the education sector serves a purpose by providing incubators, academic programmes and research. Ultimately, it takes an entire ecosystem of players to construct a viable environment for the successful growth of social entrepreneurship. In order to build and enhance this eco-system in the UAE, the centre for responsible business at the Dubai Chamber of Commerce and the Industry (DCCI) is working closely with Al Ahli Holding Group. Speaking at the recent Emirates Foundation Philanthropy in Transition Summit, Lina Hourani, the CSR Division Director of Al Ahli Group announced the launch of an online platform for social entrepreneurs to be activated in 2014, as part of the ongoing activities of the Al Ahli-driven Social Enterprise Task Group (SETG). Speaking at the event, Hourani explained that the initiative provides an opportunity for conventional entrepreneurs in the UAE to connect and be inspired to start a social enterprise. The platform will provide comprehensive guidance and support to any budding social entrepreneurs and explain how to about establishing a successful entity. The SETG is building not merely a website, but an interactive digital space through which to empower organisations in the social enterprise ecosystem while providing them with support services. Based on its users' interaction with the platform, the SETG will also present key findings related to the state of social enterprises in the UAE. In addition, the platform will unite organisational stakeholders together to aligned support mechanisms across the country and promote stronger advocacy. Establishing social enterprises is even more challenging than establishing a successful conventional enterprise, with a need to focus on building strong governance and operational systems that can achieve a realistic balance between their social outcomes on the ground and their efficiency as a business. Many summit participants noted that while this sector is growing rapidly in the UAE there is still a strong need to share ideas, best practice and create an enabling environment that promotes innovation and creativity. Hourani noted: "Social entrepreneurship is needed for both economic and social development as it creates new jobs and sources of income, while at the same time encouraging innovation. It can also bring new unconventional products and services to market that can contribute to solving societal problems such as illiteracy, health and poverty." Believing in the power of partnership, the SETG has united actors from government, academia and business in the belief that collaboration is key. Feeding the educational and research inputs into this platform will be the American Universities of Beirut and Dubai who have both agreed to share their research and knowledge on social entrepreneurship. The DCCI has also brought on board additional partners including CCC, Intercoil, Desert Group, DP World, du, Majid Al Futtaim, PepsiCo and Emirates Foundation. During her speech at the summit, Hourani called upon relevant stakeholders for to support the platform through sponsorship, technical delivery (for example as media partners) or by providing content through speakers and relevant material. "Social enterprise is a powerful tool for entrepreneurship in the region," she noted, adding that "it can amplify the development of sustainable breakthroughs for social and environmental problems without having to rely on charity or public funding. Catalysing social enterprises in the UAE will provide unique social value and we believe this platform is well positioned to help."

Arab League moves to support Arab entrepreneurs with forum in Cairo

by Hanan Solayman, March 30, 2014 In an unprecedented move to support entrepreneurs, the Arab League has hosted the first forum for Arab Entrepreneurs and Innovative Ideas, held in Cairo from February 18 to 20. The forum aimed at gathering Arab investors and entrepreneurs to close deals reflecting the recent changes the Arab world has witnessing in an attempt to support the Arab economy. The Arab Youth Council for Integrated Development held the forum with the theme of ‘Prospects for Economic Integration for Arab Entrepreneurs and Innovators’. The forum is set to become an annual event, and will be held in Saudi Arabia next year. The forum resulted in the Saudi Prince Mohammed Bin Fahd Foundation for Human Development (PMFHD) undertaking the establishment of a national fund for youth projects, an Arab youth observatory, and an Arab non-profit organization for youth investment management. The forum emphasized the importance of improving the investment climate in the Arab region, facilitating youth participation, establishing an information bank for ideas and initiatives in the Arab world, and organizing annual exhibitions that showcase ideas and innovations from Arab youth. The forum also sought to isolate strategies for building the capacities of young Arab innovations and inventors, and using the media to market and introduce Arab ideas. Twenty-four Arabs pitched their ideas before the attendees on the second day. Most of them came from Egypt, followed by Jordan, Saudi Arabia, Algeria, Yemen, Morocco, and Sudan. Their ideas included an auto-parts washing machine, a project for the establishment of smart cities, an integrated transportation system (magnetic levitation transportation means), housing (small-space apartments with multi-use furniture), alternative approaches to education, and an advanced mobile hospital model presented by engineer Khaled Thabet from Al Mawred. Ahmed El Khawly also presented preneur-masr.com, a website for Egyptian entrepreneurs specialized in entrepreneurship and SMEs, incubated by the Egyptian Ministry of Investment’s Bedaya Startup Academy. Other than the pitch session, the forum was dominated by formal discussions and conversations given that most of the speakers were government officials. This format may have failed to most efficiently engage the broad base of Arab entrepreneurs who are perhaps more capable of making a difference in their societies. Their participation in such an event would be important so as to prove as positive examples for would-be entrepreneurs. Entrepreneurs in attendance had mixed reactions to the forum’s usefulness. The forum was an excellent opportunity for entrepreneurs to pitch their ideas to investors, and a great chance for networking, said Karem Sayed, founder of shglnafsk.com, an initiative that helps users learn that the internet can be used for more than just recreation. Mohammed Al Anwar, however, a scientist at the Fayoum University who discovered a fertilizer that can increase crop yields at no additional cost, disagreed with Sayed, not having sensed any increased connection between entrepreneurs and investors. He asked: “Innovators heard each other, but who will help them implement their ideas?” He would have preferred for the private sector to have a larger and more diverse presence at the forum. El Khawly said that the forum could have taken advantage of the presence of Arab officials and private institutions to discuss obstacles that entrepreneurs face, followed by a discussion of possible solutions by engaging the private sector and steering away from governments. Communication during the event was, instead, he said, unilateral. Further, the event wasn’t advertised widely enough, which limited attendance in both numbers as well as diversity. Future events may be more useful if the organizers are able to learn their lessons from this first forum; the event has potential though, and we look forward to next year’s version in Saudi. -- Hanan Solayman is a freelance journalist and founder of El Mandara, a local news portal in Egypt. She studied Entrepreneurial Journalism at the City University of New York. You can connect with her via e-mail at hanan@mandaraonline.com or on Twitter @hananzaz.

Kramer: Entrepreneurship, startups help to bring gender equality in Middle East

Middle-Eastern women are showing the world two things: that they can perform as well as men as entrepreneurs and that they are capable of far more than being victims of institutionalized sexism. In 2013, a new product called Instabeat hit the market. Often called the “Google Glass of goggles,” Instabeat attaches to the goggles of a swimmer and monitors the wearer’s heart rate in real time. It’s on par with the likes of Nike and Fitbit’s wearable fitness technology, but Instabeat came from the mind of Hind Hobeika, a female entrepreneur operating out of Lebanon. And she’s not alone— the Economist speculated in a July 13 article that a sparkling 35 percent of those starting their own internet-based businesses in the Middle East are women, contrasting with a sad-looking 21 percent average for females in the rest of employment in that region. With the emirate of Dubai leading the way, Arab entrepreneurs (of both genders) have a chance to develop their ideas, acquire funding and launch businesses — many of which are internet-based — in a turbulent environment that could use some problem-solving. The Economist called it a “startup-spring.” Women of the Middle East getting to participate in this tech boom is a wonderful and terrifically exciting sight to see, and it isn’t an isolated event. Women across the Middle East are finding it much easier to participate in the digital age because they can stay at home and start a business from their computer, an occurrence that was unprecedented in a society where men have always been holding all the cards. One company named the Oasis 500, is helping develop digital startups in Jordan, with a surprising amount being from women. The Wall Street Journal reported on April 12, 2012 that, “while 25 percent of applications to its program come from women, 40 percent of those accepted are female.” So they are involved in business at a lower rate than men but are showing that they are potentially even more innovative. While it is encouraging to see these trends develop, it’s disheartening that it took so long. Middle East Voices, a news website, showed in an April 17 article that “Arab women outperform men even in the hard sciences,” even as college graduate rates between the two genders remain equal. The truth is that even though times are changing, Middle Eastern governments have remained largely the same in many ways. Their outdated laws subjugate females, allow for harassment and domestic violence and bar women from many of the liberties that men possess. But any sort of progress can change things quickly. The widespread success of women in the Middle East will be an accomplishment in itself one day, but its role as an allegory for the empowerment of women all around the globe will be even more crucial. If governments in developing countries set their women free, they will be accessing untapped seas of talent and potential that could transform the world. While there is plenty of optimism for the future of gender equality in the Middle East, a long road still lies ahead. But if the resilience and courage Arab women have shown thus far is any indication of what they will do in the future, then the future looks bright. Phil Kramer is a freshman advertising and marketing management major. His column appears weekly. You can reach him at pwkramer@syr.edu and on Twitter at @PhilipWKramer

Levant And Middle East Private Equity And Venture Capital

Everywhere I look (and I look under every stone these days…), I see and read about the great entrepreneurial boom spreading across the MENA region. From Berytech Fund’s 50 million upcoming fund to Middle East Venture Partners’ 50 million USD fund to Fadi Ghandour’s upcoming 75 million USD fund to Haddad Advisory’s 100 million USD fund, there seems to be a huge amount of capital out there chasing what should ideally be an equal amount of great startups. But is that really the case? Having looked into the Lebanon and Levant private equity and venture capital scene, the UAE private equity and venture capital scene, the GCC private equity and venture Capital scene, the MENA seed funding, early stage financing and angel investors scene, etc… I get the same sense of uneasiness that something is not quite right. There seems to be way too much money chasing way too little quality startups. In other terms, demand vastly exceeds supply. And that spells out one thing and one alone: bubble! And that is not good for anyone in the MENA startup ecosystem! Because all bubbles have one thing in common: one day or another… they burst! And when they do, it’s ugly! Now don’t get me wrong. I have been supporting (and applauding) the great strides being made in the last years across the MENA startup ecosystem. As an entrepreneur and investor, I have witnessed both sides of the boom. And that is precisely why I would hate to see all this headed down the same path that the Dubai real estate scene took a few years back! But how can we prevent such a looming disaster from happening? First and foremost by giving more credit (and better terms) to the entrepreneurs (those who are the key to the entire ecosystem). In Silicon Valley, good startups are like prima donnas. Investors fight to get in at ground zero. In MENA, great startups are still treated as infants who are lucky enough to grab the attention of the regional investment community. As my friend Nima Adelkhani recently posted right here on MENA OPPORTUNITIES: cut the entrepreneurs some slack. Because guess what: without them, there are no VCs, angel investors, early stage funds or startup ecosystem for that matter… It’s like petrol stations inflating the price of fuel and not understanding that they only exist in the first place because... people drive cars. The car drivers are those with the power, not the petrol stations. Over and out… Charles Corm http://www.menaopportunities.info/2014/03/levant-and-middle-east-private-equity.html#.UzkBjIWyMTA

Wamda Research Lab debuts a groundbreaking report on the barriers to scaling

For entrepreneurs in the Middle East and North Africa (MENA), scaling their companies is not easy. Challenges to finding talent and marketing products or facing a lack of funding, can stifle even the most resourceful entrepreneurs. Reducing the barriers to scale for these entrepreneurs is crucial, not just for developing a healthy entrepreneurship ecosystem, but for creating jobs and contributing to economic growth in the MENA region. The Wamda Research Lab’s first study, The Next Step: Breaking barriers to scale for MENA’s entrepreneurs, offers critical insight into the current challenges that entrepreneurs face to growing their companies, to provide policymakers and stakeholders with the information needed to build a supportive ecosystem in the MENA region. The following statistics are the study’s main findings. 1. MENA’s growing ecosystem: The Wamda Research Lab finds that there are currently over 140 organizations actively working with entrepreneurs in the region. 2. Signs of enterprise growth: Over 60% of the surveyed companies with 3-year Compound Annual Growth Rates (CAGR) have added jobs over the past 3 years. 3. Signs of scaleups: 20% of the surveyed companies with 3-year CAGR’s are scale-ups - companies more than three years old with employment growth of 20% or better. 4. UAE Expansion: 39% of the entrepreneurs we’ve surveyed plan to open new offices or deepen their presence in the UAE in 1 to 2 years. 5. Saudi Expansion: 38% of entrepreneurs surveyed plan to open new offices or deepen their presence in Saudi Arabia in 1 to 2 years. 6. Scaling is difficult: 60% of experts surveyed say that scaling is the most challenging phase for entrepreneurs in MENA. Barriers to scale: 7. Generating revenue: 41% of the entrepreneurs surveyed say that the biggest obstacle to generating revenue is marketing products. 8. Obtaining investment: 35% of entrepreneurs surveyed say that a lack of funding in the ecosysytem is a barrier to obtaining investment. 9. Building a team: 63% of entrepreneurs state that finding talent is a barrier for building teams. 10. Expanding: 47% of surveyed entrepreneurs say that an inability to find partners limits market expansion. Tweet this stat. Profiling these entrepreneurs: 11. Founder age: The average age of the entrepreneurs who took part in the Wamda Research Lab study is 32.5 years. Tweet this stat. 12. Number of founders: 39% of companies surveyed have 2 founders; 33% have 1 founder, 16% have 3 and 12% have 4 or more. Tweet this stat. 13. Gender: 77% of all surveyed founders are male; only 23% are female. Tweet this stat. 14. Education: 48% of entrepreneurs surveyed have a Bachelor’s degree and 40% have an advanced degree. Tweet this stat. 15. Experience abroad: 74% of surveyed companies have founders who have studied or worked abroad. Tweet this stat. 16. Resources: 78% of surveyed entrepreneurs have used their personal savings to finance their companies. Tweet this stat. Read the entire report to see more, including the Wamda Research Lab's recommendations for easing the process of entrepreneurship

QDB and SDC Launch Largest Mixed Business Incubator in the Middle East

The 20,000 square meter Qatar Business Incubation Center (QBIC) - the largest business incubator facility in the Middle East - was launched in Doha's industrial area today. The mixed use incubator is part of a wider public and government push to support and encourage Qatari entrepreneurs to build and grow businesses. QBIC was founded by two of Qatar's leading government institutions supporting local entrepreneurs: Qatar Development Bank ( QDB ) and the Social Development Center (SDC), member of Qatar Foundation. QBIC' goal is to develop the next 100 Million QAR companies and success stories in Qatar. QBIC empowers entrepreneurs to start and grow companies through training, mentorship, incubation, networking and investment. QBIC's objectives include developing Qatari companies through promotion of entrepreneurship and best-in-class business ethics, helping create Qatar's next-generation of successful entrepreneurs, business leaders, start-ups and scale-ups. " Qatar Development Bank believes that with the launch of QBIC comes a new milestone for entrepreneurship and the Qatari economy. I believe we are witnessing a transformation, providing entrepreneurs the resources needed to turn dreams into reality" said Mr. Abdulaziz bin Nasser Al Khalifa, the Chairman of QBIC and Chief Executive Officer of QDB . And in a speech by Ms. Amal Al Mannai, Executive Director of Social Development Center (SDC): "It was SDC's honor to have the initiative to adopt the entrepreneurship program within the youth and women societies towards encouraging them into production and business development, particularly startup and scale-up projects. We believe that these projects will strengthen the national economy, enhance income and build a better lifestyle for Qataris". "The entrepreneurship program has been initiated in 2001 and continued on a consistent growth and development pace accordingly with an accumulative scientific vision to include all technical and material support at the entire program phases. The program has provided services included entrepreneurship promotional campaign, encouragement, required training on local and international market feasibilities, emergency and technical consultations and follow up". "QBIC has been established with a budget that exceeds QR 100 million. It has been designed by implementing a modern and scientific benchmark to fulfill entrepreneurs' demands, office space, industrial workshops, and administrative and technical support. This qualifies QBIC to play an essential role to develop Qatar business sector". "We are grateful and thankful to those who have participated from SDC and QDB in QBIC success. Without the government faith and support, QBIC wouldn't have existed. Our gratitude goes to H.E Mr. Abdallah Bin Hamad Al Attiyah, ex-Minister of energy and industry, and H.E Dr. Mohammed Bin Saleh Al Sada, the Minister of energy and industry. The best gratitude goes also to SDC board members, SDC team as well to QDB top management and executives represented by QDB CEO Mr. Abdulaziz Al Khalifa for taking the full responsibility as a chairman of QBIC, my colleagues in QBIC board and the CEO of QBIC Mr. Raed Al Emadi": said Ms. Amal Al Mannai. "Our mission is to develop Qatari companies valued at 100 million QAR. QBIC provides incubator space for entrepreneurs and scale-ups to carry out their work with their teams. In addition, we provide balanced training courses that enrich both knowledge and expertise," said Mr. Raed Al Emadi, Chief Executive Officer of QBIC. As starting of operations, QBIC was keen to conduct the first batch of lean startup training for the first time in Qatar. The training was held for all entrepreneurs whom have applied to QBIC through our website www.qbic.qa and were shortlisted. The training is run by Professor Lee charm from Babson College in the United States - rated number one entrepreneurship teaching university worldwide - along with trainers from QBIC. -Ends- About QDB : Qatar Development Bank ( QDB ) is a financial entity fully owned by the government, set up by an Emiri Decree to invest in and develop local industries by supporting small and medium enterprises in Qatar. QDB aligned its strategy to correspond with the Qatar National Vision for the year 2030, to promote and facilitate development and growth of small and medium enterprises in core economic realms, resulting with long-term socioeconomic benefits to the people of Qatar. In addition to providing financial aid, the bank also offers advisory support and guidance to small and medium enterprises regarding start up, growth and expansion of their activities, aiming to establish a sustainable economic system. About SDC: The Social Development Center (SDC), part of Qatar Foundation is a nonprofit, social and development organization that focuses on supporting low-income families and community projects in Qatar. It has a longstanding commitment to bringing Qatari women into the workforce and establishing career counseling for Qatari high school and university students. The Social Development Center is one of the most successful, well-known social and developmental organizations in Qatar. In harmony with the vision of Qatar's Foundation, it was established in 1996 under the patronage of Her Highness Sheikha Mozah Bint Nasser Al-Missned, the consort of His Highness the Emir of Qatar who is the Chairperson of Qatar Foundation. The center's mission aims at the support, development and investment of human resources through a set of programs and services that enhance family ability in Qatar for self-reliance. © Press Release 2014 © Copyright Zawya. All Rights Reserved.

pi-slice.com partners with propertyfinder.ae to fuel Micro-Entrepreneurship in the Middle East

13th March, 2014: Pi Slice, the first web-based social platform dedicated to online funding for Micro-Entrepreneurs in the Middle East and North Africa (MENA) is excited to announce its partnership with propertyfinder.ae, the UAE's leading property portal. As part of the association, propertyfinder.ae and Pi Slice have launched a 'lending page' to encourage the wider community towards online micro-lending. Companies and individuals in the UAE can view a list of unique micro financed projects through the joint page and choose to provide support to the project of their choice. The link to the 'lending page' is www.pi-slice.com/en/partners/property-finder. In collaboration with the portal, Pi Slice brings a unique proposition to the MENA region, through which individuals and companies who wish to invest, are linked with MENA-based micro-finance institutions (MFIs), which, in turn, use the funds to provide micro-credit to their customers. Through this, motivated individuals and companies can help build a sustainable future for aspiring micro-entrepreneurs. "There are many micro-entrepreneurs with great skills and ideas who simply need people and organisations to believe in them and to provide them with support," said Pi Slice CEO, Genny Ghanimeh. "By providing them access to capital in a transparent and efficient manner, we look to empower people to participate in their communities and economies. Previously this was a dream, but now technology has made it a reality. By partnering with propertyfinder.ae, a company that has shown leadership, innovation and a commitment to social change, we really hope to revolutionise the 'online' entrepreneurial funding and support its landscape in the region." "It's no easy feat becoming an entrepreneur especially since one's potential is often stunted by the process of raising capital," said Michael Lahyani, CEO and Founder of propertyfinder.ae. "Dubai's an emergent hub for social enterprise and we look forward to working with Pi Slice to fill this need, nurture the entrepreneurial spirit and advance economic opportunity throughout the region." Adding that this initiative will open the door for exciting partnerships, Lahyani said," With the Expo 2020 coming up, opportunities for entrepreneurs to create sustainable businesses will grow. By combining a social mission with a sustainable business methodology, we're excited to not only help micro-entrepreneurs create self-employment opportunities but also provide jobs for other people." About propertyfinder Group of online portals Established in 2007, propertyfinder.ae, propertyfinder.qa, propertyfinder.eg, propertyfinder.com.lb, propertyfinder.bh and sarouty.ma are the leading group of property portals across the Middle East dedicated to creating the largest real estate community of buyers, sellers, renters, brokers and developers. Available in both English and Arabic, our websites provide visitors with comprehensive search facilities covering residential and commercial properties, real estate news, home advice and buying and selling guides, while agents enjoy access to the region's largest potential audience of property seekers. Consumer experience is paramount in everything we do and this is reflected in the design, content and navigation of all our portals. Our current traffic statistics show us as a leader in the industry with 900,000 visits and 120,000 enquiries per month. Visits have grown by over 105% in the last 12 months and an impressive 298% in the last two years. A winner of the 'Dubai SME 100' for the second consecutive cycle, the 2013 SMEinfo 'Online Business of the Year' and the Arabian Business Start-Up 'SME of the Year' titles and the 'Arabia Fast Growth 500' award in 2012 and with a presence in the UAE, Qatar, Egypt, Lebanon, Bahrain and Morocco, the propertyfinder group is one of the fastest growing companies in the region. The Group aims to be in a total of nine countries, with a focus on the GCC and other parts of the Middle East in the coming months. www.propertyfinder.ae www.propertyfinder.qa www.propertyfinder.eg www.propertyfinder.com.lb www.propertyfinder.bh www.sarouty.ma propertyfinder.ae media enquiries Contact: Anna Lucas - Marketing & Communications Specialist anna@propertyfinder.ae Office: +971 4 454 8464 Mobile: +971 55 115 9971 About Pi Slice: Pi Slice, the first web-based social platform of online funding for Micro-Entrepreneurs in the Middle East and North Africa (MENA), is proud to announce du as its first partner, as part of the company's continuous commitment to help create jobs in MENA. For further information about Pi Slice visit: www.pi-slice.com/en

International Women’s Day: Equality through entrepreneurship

Tomorrow is International Women’s Day, which is dedicated to celebrating the economic, political and social achievements of women across the globe. Last month, in Lebanon, women were not so celebrated. Lebanese Olympic skier, Jackie Chamoun, underwent scrutiny when footage of her posing topless for an Austrian calendar in 2011 leaked onto the internet, with Lebanon’s Minister of Youth and Sports going so far as to call for an investigation. In response, a massive campaign dubbed ‘stripforjackie’ turned the young woman into a social media sensation as hundreds of people began doing exactly what the campaign title implies: taking ‘selfies’ wearing almost nothing in their support of Jackie’s right to pose in whatever way she chooses. Also in February, two women, Manal Assi and Christelle Abou Shakra, were allegedly brutally killed by their husbands in two separate incidents in Lebanon. Both had suffered years of abuse at the hands of their spouses, and activists renewed their long-standing demand that the domestic violence law still pending in Parliament be passed. So people stripped off their clothes and disseminated photographs of the lost women in a short-lived battle for change and a cry for attention from the Lebanese government. So what can we take away from all this? It has become clearer than ever that the rights of women in Lebanon are a long way from being properly acknowledged and an even longer way from being fiercely protected. The root of the problem can be debated endlessly but I’d rather focus on actions that bring us women closer to being treated as equals in the Middle East. For me, entrepreneurship is a powerful starting point; it is an avenue through which women can have a real chance of achieving immense success, the kind of success that forces our dreams to be respected. I believe that it is the duty of female entrepreneurs to represent women on a wider scale by constantly innovating and fighting for our rights to be leaders in whatever field we choose. My tips for the month, tailor made for women entrepreneurs, and those wondering if they should become ones, are dedicated to women everywhere and especially to Manal and Christelle. 1. Embrace the fact that you’re female. Women and men don’t look at the world in the same way. Put simply, we’re different, and the entrepreneurship scene needs us both. So embrace the fact that you are a woman when working on or creating your next venture and channel your different thought processes in order to humanize your business and create something with the female touch. 2. Inspire by example. Imagine the number of people you can impact by setting up and operating a startup. There is much preaching about how women should be treated but not enough action. People like Zeina Saab of The Nawaya Network, Sara Helou of eTobb and Tamara Qiblawi of Knooz Room are prime examples of young female entrepreneurs who broke free from the corporate world to create businesses that are not only amazing but also have a profound social impact. 3. It doesn’t have to be a choice. I’ve always wondered how I would balance work and family in my future, being the career obsessed person that I am. I now feel I have found the ultimate solution. Women give birth and want to be there for their kids, it’s innate. What better way to handle the work-life balance then by creating something that is your own, something that allows you to make your own rules and break free from the confines of the corporate world. 4. It’s okay if you don’t know stuff. You can learn it. I talk to a lot of women who fear entering the world of entrepreneurship because they feel they don’t posses the technical know-how. Who cares? Like everything new in life, you’ll figure it out as you go along. When I compare what I knew two years ago in terms of technology (nothing) and what I know now (a lot) it’s an amazing feeling; there is no way faster way to learn than by doing. 5. Be yourself. Make sure your business embodies your personality. If you fail, then you’re lucky: you’re an entrepreneur and you can just try again. I’ve never been prouder to be an entrepreneurial woman and I hope this piece inspires female readers to join the exciting ship I’m currently on.

Almashroo3

http://m.therepublic.com/view/story/7272c1623e474697ad4b3d139ce6f428/ML--Egypt-Entrepreneurial-Economy