Banking and Finance Debt and fintech dominate Mena startup funding Fintech and debt financing were the dominant themes in Mena startup funding in May, as experts predicted continued growth for the remainder of the year. In May, $445 million was invested in 39 startups in the Middle East and North Africa, up from only $7 million and 11 deals in April. The data was compiled […] June 16, 2023
Banking and Finance Mubadala invests in $440m LatAm fund Abu Dhabi’s Mubadala is an anchor investor in a new $440 million fund run by former SoftBank executives that will buy into Latin American startups. Miami’s Bicycle Capital has launched the fund, its first, according to a press statement that says it could increase to $500 million. The Bicycle 1 fund will partner with the […] June 15, 2023
Opinion Entrepreneurs Six ways to succeed as a startup founder Essential tips for first-time entrepreneurs in the Gulf June 1, 2023
Oman unveils $5.2bn startup fund and plans for new city Oman is planning to set up an investment fund with a capital of OMR2 billion ($5.2 billion) to support economic diversification. The news was first reported by state-owned Oman News Agency, citing a decree by Sultan Haitham Bin Tariq Al Said. The Oman Future Fund will allocate a percentage of its capital to stimulate the […] June 1, 2023
Banking and Finance Gulf edges closer to its first homegrown tech unicorn The Gulf region is two years away from realising its first tech unicorn, according to Mohammad Alblooshi, head of Dubai International Financial Centre’s Fintech Hive. Becoming a unicorn – a company with a valuation over $1 billion before being listed on the stock exchange – is the dream of many tech startups. In the fintech […] March 14, 2023
Exclusive Food & Drink Say cheese! Syrian refugee to take halloumi startup to Gulf A Syrian refugee who moved to the UK and set up a halloumi cheese company is looking to the Gulf as one of her first markets for international expansion. “We are always looking for investment because we know that we’ve got high demand in the UK,” Razan Al Sous, founder of Yorkshire Dama Cheese, told […] March 3, 2023
Exclusive Manufacturing Cars, property and superjets: Pagani plots future with PIF Horacio Pagani, founder of the supercar that bears his name, is open to further partnerships with Saudi Arabia’s Public Investment Fund as his company expands into luxury real estate and private jet design. PIF acquired a 30 percent stake in the Italian business in 2021. Pagani, who acts as its CEO and chief design officer, […] January 29, 2023
EXCLUSIVE ‘Attitude is last hurdle’ for Saudi women in business Digitalisation has removed the last practical barriers to female entrepreneurship in Saudi Arabia, according to one of the kingdom’s prominent business leaders, Dina Alnahdy. The only remaining obstacle, she told AGBI, is their own or others’ attitudes. “Honestly, there are no real barriers that would prevent someone from starting up a business and flourishing in […] January 25, 2023
Exclusive Food & Drink Cashless economy is at the door, says food delivery boss A cashless economy in the UAE is no longer just an ambition, according to Tatiana Rahal, managing director of food delivery giant Talabat UAE. “The future in the UAE is digital and we see cashless payments as the primary currency,” said Rahal, the company’s first MD who has previously worked on data analytics for brands […] January 23, 2023
Food & Drink Success brewing for UAE’s speciality coffee culture Three years after the Covid pandemic broke many businesses, a new landscape is brewing that could fundamentally change the UAE’s coffee culture. Coffee shops were among the first to shut their doors in 2020 and bear the brunt of prolonged lockdowns. But the pandemic has changed customer behaviour and palettes, and the country’s independent operators […] January 1, 2023
How I got to the top Lifestyle Kemal Yazici, founder, Bedia Gallery Kemal Yazici is founder of Bedia Gallery, an art gallery and studio located in Al Khayat Avenue, Al Quoz, Dubai. What does your company do? Currently Bedia Gallery is exhibiting my artworks. However, in the very near future we will work together with Turkish and German artists and curators. Also, in the long term we […] December 23, 2022
How I got to the top Entrepreneurs Katie Wachsberger, co-founder, Dana Global Dana Global is an Abu Dhabi-based venture builder for women-led startups in desert technology: agtech, foodtech, water solutions, circular economy, and renewable energy specifically geared for the unique desert climate of the Middle East. What does your company do? We work closely with our portfolio companies – early-stage businesses and entrepreneurs – to guide them […] December 16, 2022
How I got to the top Lifestyle Caroline Ralston, founder, Proposal Boutique Proposal Boutique is a Dubai-based luxury marriage proposal planning company, helping couples enjoy an unforgettable “will you marry me?” experience. What does your company do? We work closely with men from all over the world to help them deliver the most romantic and unforgettable proposal. We source the venue, flowers, decorations, musicians, fireworks, and much […] December 9, 2022
Food & Drink Saudi prince backs US lamb-flavoured plant startup KBW Ventures, the venture capital firm founded by Saudi Arabia’s Prince Khaled bin Alwaleed, was one of the prime investors in a $12.3 million fundraising round by a San Francisco-based foodtech startup developing plant-based meat products that taste like lamb. Founded in 2019, Black Sheep Foods also attracted investment from other US-based plant-based venture veterans […] December 9, 2022
Banking and Finance Further slowdown before a rebound, says UAE VC firm Following years of rapid growth, the Gulf’s venture capital (VC) ecosystem has slowed down, in line with global trends. But the region’s underlying strengths and appetite for VC deals mean it will pick back up again late next year, experts from Apex Group have told AGBI. “Up until about three months ago, we were still […] December 1, 2022
Exclusive Development Cherie Blair ‘optimistic’ for Middle East entrepreneurial equality Nearly 20 years ago, Cherie Blair CBE, leading King’s Counsel and committed campaigner for women’s rights, predicted that the UAE would lead the Middle East’s drive on gender equality. Her first visit to the GCC region – during her husband Tony’s 10-year stint as British Prime Minister – was promptly followed by the appointment of […] November 14, 2022
LONG READ The business of sleep: from beating jet lag to space-age linen “I think it’s probably the easiest topic in the world because everybody is interested in it,” says Lilburne Opie, founder and CEO of Dubai-based company Linen Obsession, when we meet for this interview. She’s talking about sleep, which, like breathing, eating and drinking, is a vital necessity. “Even if you get enough time in bed, […] November 14, 2022
60 seconds with Entrepreneurs Abdulrahman Ali Alolayan Abdulrahman Ali Alolayan is founding CEO of Dammam BioTech Valley, a leading biotech innovation and research hub in Saudi Arabia. He is also founder of the Taibah Valley biotech investment company and a board member of various private and public companies. What does your company do? At Dammam BioTech Valley we pave the way for […] November 11, 2022
Exclusive Interviews ‘The metaverse can change the way we school our children’ Some schools still rely on more traditional teaching methods but an Emirati entrepreneur believes the metaverse has the potential to extend the physical classroom experience. Using blended learning options such as augmented and virtual reality technologies, Amin Al Zarouni, CEO of UAE-based Web3 company Bedu, is aiming to give the Gulf’s education system an overhaul. […] October 23, 2022
Exclusive Lifestyle UAE hybrid working leads to 90% rise in demand for home cleaners The rise of hybrid working during the coronavirus pandemic has seen Gulf residents spending more time at home, leading to a surge in demand for domestic cleaning services. This has spurred growth in the wider on-demand home services industry, but investments in technology and manpower and rising business costs in the UAE has resulted in […] October 16, 2022
60 seconds with Lifestyle Medhat Karam, ArpuPlus Medhat Karam is CEO and managing director of ArpuPlus, a telecommunications service which provides entertainment and communication solutions across the Middle East and North Africa. ArpuPlus was set up in 2003 and is a subsidiary of A15, a Cairo-based venture capital firm. What does your company do? Entertainment-wise, we specialise in affordable music, video, gaming, […] September 16, 2022
How I got to the top Food & Drink Fernando Trocca, Masterchef Argentinian-born restaurateur Fernando Trocca is masterchef at Sucre, an international restaurant chain. Known for its open-fire cooking, the Latino eatery has repeatedly made its way onto the world’s 50 Best Latin American restaurants. A second location opened in London in 2021, and its newest dining space has just launched in Dubai International Financial Centre. What do you […] September 9, 2022
