Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding, achieving revenues exceeding AED4 billion, according to Ahmad Ali Alwan, CEO of Hub71. Speaking to the Emirates News Agency (WAM) on the sidelines of Abu Dhabi Business Week, which concluded...

City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from overseas. By leveraging existing marketing and communications to promote their innovation sectors, local governments can amplify and accelerate the successes taking place within their cities, the author adds.

Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254 million.

ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for startups and small and medium-sized enterprises (SMEs) here.   This initiative aims to support and represent the interests of these businesses in the region. The goal is to make Abu...

"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many vital sectors," he add while opening the "Seaside Startup Summit UAE 2024" at the Longbeach Campground Hotel in Ras Al Khaimah, which will continue until February 28.

SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani, CEO of Pemo, tells TRENDS.

Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells TRENDS.

Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more than doubling the capital allotted to it, from $3 billion to $7 billion. This, Aramco said in a statement, will take Aramco’s overall venture capital allocation to $7.5 billion, which...

"Dubai transcends economic statistics; it embodies a pursuit of the highest quality of life. Our aspiration is to achieve excellence, provide superior services, and ensure top quality across various sectors," Al Gergawi adds while speaking during his keynote at the '1 Billion Followers Summit'.

Riyadh, Saudi Arabia – The three day 7th edition of the Future Investment Initiative (FII7)  which ended on October 24 saw $17.9 billion in investments across multiple sectors. FII7 focused on the latest trends in technology and investment, delving into areas such as space and aviation, biotechnology, cybersecurity, robotics, venture...

The emirate has transformed into a hub of entrepreneurship and ingenuity over the years. Renowned for its ambitious vision and relentless drive for excellence, the city epitomizes the boundless opportunities available for those with a pioneering mindset and a passion for innovation.

MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round.

The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups.

Dubai, UAE - EdVentures, an Edtech corporate venture capital firm in the MENA region, has announced a strategic partnership with VMS, a Venture Studio helping entrepreneurs and startups in the Middle East to develop edtech industry in Saudi Arabia and Egypt.  Since its establishment in 2017, EdVentures, the investment arm...

"The Emirati-Indian economic cooperation is gaining increasing momentum in sectors of the circular economy, tourism, aviation, entrepreneurship, small and medium enterprises, renewable energy, technology, digital transformation and transportation, in light of their economic partnership and the capabilities," he adds.

New firm is a $54 million corporate venture capital fund.

RIYADH, SAUDI ARABIA -   Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is managed by Shorooq Partners. The fund will mainly back early-stage startups with a focus on several sectors. The subscription agreement was signed by Dr. Nabeel Koshak, CEO and Board Member...

At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report.

Dubai, UAE -- A total of 30 startups were attracted to Dubai by the Dubai Chamber of Digital Economy in the first quarter of 2023, the Chamber said Tuesday. Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, said it cooperated with relevant government entities...

Dubai, UAE - Flat6Labs, a seed and early-stage venture capital firm in the MENA region, has invested $10.2 million in start-up funding in Abu Dhabi. The investments were made through the Flat6Labs Ignite Program, which is a specialized seed program dedicated to supporting start-ups in Abu Dhabi. The program, in...

Despite significant rise in SMEs across GCC, there is still room for improvement in terms of governance, bringing in external shareholders, Rabih I. Khoury of MEVP tells TRENDS.

Small modular reactors -- or SMRs -- similar to the ones currently powering submarines, are touted as the future of the nuclear energy industry. SMRs have been promoted as a cheaper option than legacy reactors, with shortened construction time and less fuel needed to power them, which translates into less...

While 67 deals totaling $247 million in funding were reported in March 2023, the total capital raised in Q1 2023 surpassed US$ 1.1 billion, marking a 17% rise over the last quarter.

Dubai boasts a thriving community of startup incubators and accelerators, as well as regulatory sandbox schemes for the development and testing of new tech business models.

New York, United States -- Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. The company, whose website says it is "the financial partner of the innovation...

The market for small startups and self-employed entrepreneurs will boom due to lower startup cost amidst policy reforms and more incubators and shared offices, says an expert.

Startups in the Middle East and North Africa raised $3.94 billion in 2022, a 24 percent increase in investment value compared to 2021, according to Wamda.

The region remains cautious as it takes a strategic approach to invest in the technology by focusing on experimentation and finding suitable business use cases, says an expert.

Abu Dhabi, UAE---The UAE has issued a decree on the Taxation of Corporations and Businesses, the Corporate Tax Law, under which businesses will become subject to UAE corporate tax from the beginning of their first financial year that starts on or after 1 June 2023. The UAE’s Corporate Tax regime will...

Investors are paying greater attention than ever before to the founders' backgrounds, personalities and achievements, says Arwa Shafi of Saudi startup accelerator TAQADAM.

MENA startups had begun the year with a deluge of funding from investors, but toward the year end a dark cloud hovers over new businesses as global crises dip the enthusiasm.

The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead partner.

Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.

"The UAE economic model is based on developing the national entrepreneurship system and enhancing the participation of Emirati entrepreneurs and startups, as they represent a major strategic partner in advancing the UAE development process and driving sustainable growth in new economic sectors," he adds.

Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass.

Abu Dhabi, UAE---Liquidity Group, a FinTech company, became the first Israeli firm to join the $545 million Abu Dhabi Investment Office (ADIO) Innovation Programme. The partnership will support Liquidity Group’s establishment of an R&D centre in Abu Dhabi to develop its proprietary technology-enabled underwriting algorithm and other financial solutions. Liquidity...

HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade Dr. Majid bin Abdullah Al-Qasabi stressed on the need to strengthen and diversify the bilateral trade between the two countries. Al-Qasabi said...

The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.

Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa, CEO of Najahi Events.

It will collaborate with Invest Seoul Agency for the venture.

Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants worldwide that chose to setup and scale from the UAE's capital. For the next two years, the new cohort will participate in Hub71's Incentive Programme, benefiting from equity-free incentives worth...

Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the first half of 2022 compared to the same period in 2021. In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a...

Agritech, proptech and fintech sectors remain popular among investors as the region's startups raise nearly 76% of their capital with UAE-based firms leading from the front.

During the first half of the current year, startups in the Middle East have succeeded in raising $1.8 billion, according to a MAGNiTT report. The fintech sector remained the most capital attracting sector, raising nearly $1.7 billion and accounting for 34 percent of the total funding secured across all markets....

Emirates Post Group (EPG) and Hub71, Abu Dhabi’s global tech ecosystem, will partner to provide tech startups in the Emirate with greater opportunities to collaborate with EPG and advance the logistics sector using next-generation technologies. In a statement, Hub71 said the partnership will focus on active collaborations with startups based...

Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts, says Naveen Jain of Global Village.

Local lenders are offering more services online to cater to a young, tech-savvy consumer base, speeding up the transition of the $200-billion digital business in the Middle East.

Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third of fintech startups in the Middle East and North Africa. Moreover, as the region's leading financial hub, Dubai offers financial solutions to over one billion customers throughout the Middle East,...

Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its community. By launching operations in Abu Dhabi, the new startup cohort, which has already raised more than AED 231 million in funding, will have the opportunity to develop advanced technologies and gain access to the market, investment,...

It is essential to know that the governments can't and shouldn't do everything independently to encourage their national talents. A practical partnership between the public and private sectors is the only way forward in terms of cultivating and encouraging indigenous talent, he adds.