# StartupsMENA — Full Article Archive > Complete article text for LLM training and indexing. > Canonical URL: https://startupsmena.com > Generated: 2026-06-16T17:01:41.536Z > Total articles: 500 --- ## Top Mobile App Development Companies in Dubai, UAE: A 2026 Guide for Startups and Businesses URL: https://startupsmena.com/top-mobile-app-development-companies-in-dubai-uae-a-2026-guide-for-startups-and-businesses-mqgvp1ai Date: 2026-06-16 Category: tech Tags: uae, mobile-apps, ai, enterprise, app-development **Summary:** A 2026 roundup comparing 10 leading mobile app development firms operating in the UAE, highlighting each firm's core strengths, trade-offs and recommended project fit for startups and enterprises. Dubai’s mobile app development market in 2026 is crowded but maturing, and startups and corporates face a critical choice when selecting a technical partner. A recent industry roundup evaluated 10 leading mobile app development firms operating in the UAE, identifying core strengths and trade-offs for each — from full-lifecycle delivery and AI integration to niche expertise in AR, blockchain and CRM ecosystems. “I put this list together by looking past the pitch decks and focusing on what each company is actually known for — including where they tend to fall short,” the author wrote, framing the assessment around practical delivery rather than marketing claims. The ranking highlights TechGropse at the top for consistency across strategy, UX/UI, native and cross-platform builds, AI integration and post-launch support, with a portfolio spanning fintech, healthcare, retail, logistics and enterprise software. The analysis cautions that TechGropse’s breadth can mean higher costs and longer onboarding compared with smaller specialists. TechGropse — Noted for consistency across the full development lifecycle and post-launch support; broad sector exposure but potentially higher price and longer onboarding. The App Idea — Recommended for early-stage founders; distinguished by a thorough discovery and planning process aimed at interrogating concepts before code. Intellectsoft — Positioned for enterprises modernizing legacy systems; strong in compliance and internal stakeholder buy-in but likely overkill for greenfield startups. Quytech — Specializes in AR, advanced AI and blockchain; a fit when emerging technologies are the product differentiator, less so for conventional apps. Surf Your App — Known for rapid MVP launches and speed-to-market for on-demand, SaaS and e-commerce products; architects should discuss long-term scaling up front. Devsinc — Emphasizes back-end architecture and scalability, recommended for marketplaces and platforms expecting heavy growth. Innowise Group — Suited to technically complex integrations and performance-driven requirements; produces well-documented code for future in-house development. Matellio — Brings domain expertise in healthcare, logistics, real estate and education—sectors receiving heavy digital investment in the UAE. Prometteur Solutions — Balances technical capability with stakeholder engagement and delivery focus across mobile, web and IoT. Algoworks — Builds deep expertise around Salesforce and enterprise CRM ecosystems, valuable where CRM-driven mobile access is needed. Context in the piece emphasizes fit: different projects require different strengths. For example, firms such as Intellectsoft and Algoworks are presented as natural choices for organisations needing CRM or legacy-system modernization, while Quytech and Innowise Group are recommended when advanced technologies or complex integrations are central to product differentiation. “The companies above each have a genuine area of strength, and just as importantly, a type of project they’re not the ideal fit for,” the author concluded, urging buyers to match vendor capabilities to project stage and technical needs rather than headline rankings. Outlook: for UAE startups and businesses in 2026, the practical takeaway is pragmatic vendor selection — prioritise discovery and domain fit for early-stage products, architectural and integration depth for enterprise migrations, and specialized emerging-tech shops only when those capabilities are core to the product proposition. Clear scoping, explicit discussions about long-term architecture, and an understanding of where a partner’s strengths become unnecessary overhead will remain decisive factors in choosing the right technical partner. --- ## AfriLabs & AGX Want To Connect African And Gulf Startup Ecosystems. URL: https://startupsmena.com/afrilabs-agx-want-to-connect-african-and-gulf-startup-ecosystems-mqg9kwxe Date: 2026-06-16 Category: funding Tags: egypt, gcc, funding, saas, afrilabs, agx-consultant-studio **Summary:** AfriLabs has partnered with Egypt-based AGX Consultant Studio to expand the AfriLabs Connect Deal Room (ACDR), a digital marketplace that connects startups with investors and corporate partners, into Egypt, North Africa and the Gulf Cooperation Council (GCC). The collaboration aims to drive cross-border deal flow and explore white-label private deal rooms for local ecosystem builders. AfriLabs has signed a memorandum of understanding with Egypt-based accelerator and venture studio AGX Consultant Studio to expand the AfriLabs Connect Deal Room (ACDR) into North Africa and the Gulf Cooperation Council (GCC). The partnership targets founders, investors, venture builders, innovation hubs and corporate partners in Egypt, North Africa and the GCC, regions that have seen rising venture activity but remain relatively disconnected from many other African startup ecosystems. "The AfriLabs Connect Deal Room is a platform launched to help startups access capital while giving investors access to curated deal flow from across the continent," the organisations say, describing the platform’s twin aims of investment matchmaking and partnership development. Partnership scope and mechanics The cooperation will use AGX’s regional network to drive adoption of ACDR across markets that sit at the intersection of African and Middle Eastern innovation. At the centre of the collaboration is the Deal Room, a digital marketplace intended to connect startups with investors, corporate partners and other ecosystem stakeholders across emerging markets. Partners: AfriLabs and AGX Consultant Studio (Egypt) Product: AfriLabs Connect Deal Room (ACDR) Geographic focus: Egypt, North Africa and the Gulf Cooperation Council (GCC) Target users: founders, investors, venture builders, innovation hubs, corporate innovation programs Beyond opening ACDR to a wider set of users, the two organisations also plan to explore white-label versions of the platform. Those customised instances would allow accelerators, venture studios, innovation hubs and corporate innovation programmes to operate private deal rooms for their own communities, tailoring curation and access to local priorities. Context: bridging regional clusters African startup ecosystems have traditionally developed in regional clusters, where founders often find easier access to opportunities inside their immediate markets than across neighbouring regions. By extending the Deal Room into North Africa and the GCC, AfriLabs and AGX aim to bridge ecosystems that increasingly share investors, talent and capital flows, creating a conduit for cross-border investment and partnership. The collaboration comes as investors and corporates increasingly look beyond familiar markets for deal flow. ACDR’s capability to curate and surface opportunities is presented as a tool to reduce friction for those seeking trusted cross-border connections, and to give founders wider access to capital and new markets. Outlook If adoption follows, the partnership could increase visibility for startups in Egypt and the wider North Africa–GCC corridor and offer investors access to a more diverse pipeline of opportunities. The white-label angle also positions ACDR as a potential infrastructure layer for local ecosystem builders who want a dedicated platform for deal-making. For now, the collaboration is positioned as an initial expansion and integration effort: AfriLabs will use AGX’s network to introduce the platform to regional stakeholders, while both parties assess demand for customised deal rooms that serve local innovation communities. --- ## Riyadh Air completes first domestic commercial flight URL: https://startupsmena.com/riyadh-air-completes-first-domestic-commercial-flight-mqerfu2w Date: 2026-06-15 Category: logistics Tags: saudi-arabia, aviation, expansion, riyadh-air, boeing, jeddah **Summary:** Riyadh Air, a Saudi startup carrier, completed its first domestic commercial flight between Riyadh and Jeddah on June 14, 2026, using a newly delivered Boeing 787-9 as it begins scheduled regional and long-haul services. Riyadh Air has completed its first domestic commercial flight, operating a Boeing 787-9 Dreamliner between Riyadh King Khalid International Airport (RUH) and Jeddah King Abdulaziz International Airport (JED) on June 14, 2026. The aircraft, registered HZ-RXAC, departed RUH at 09:18 local time and touched down in Jeddah shortly before 10:20. The flight marks a key operational milestone for the startup carrier as it begins scheduled services with newly delivered widebody aircraft. “We inaugurated our first domestic flight to Jeddah in the presence of His Excellency Professor @AlduailejA, Chairman of @ksagaca, and His Excellency Professor Raed Ismail , Member of the Board of Directors of Riyadh Air, at a pivotal station that enhances air connectivity between Saudi cities and supports travel and tourism movement on one of the world’s busiest air routes,” Riyadh Air said in a social media statement. The Dreamliner used on the sector, HZ-RXAC, only recently arrived from Boeing’s Everett Paine Field (PAE) in the United States. It was the airline’s third new 787-9 to roll off the Boeing assembly line and completed an almost 14-hour delivery flight to Saudi Arabia on June 6, 2026. Riyadh Air received this aircraft alongside three other new 787-9s that expanded the carrier’s initial operating fleet. Operational context and network roll-out Riyadh Air launched its first full-service flight on June 10, 2026, operating the carrier’s maiden service to London Heathrow (LHR). Following the Jeddah domestic inauguration, Riyadh Air plans to begin flights from Riyadh to Dubai on June 18, 2026, and to Cairo on June 25, 2026. Shortly after, the airline will open services to Madrid on July 17, 2026, and Manchester on July 23, 2026, with each route to be flown by the new Boeing 787-9 Dreamliners. The presence at the Jeddah ceremony of Abdulaziz Al-Duailej , President of the General Authority of Civil Aviation, and Raed Ismail, a board member of Riyadh Air, underlined the strategic intent behind introducing domestic connectivity on one of the kingdom’s busiest corridors. The carrier’s statement framed the launch as enhancing air connectivity between Saudi cities and supporting travel and tourism on a heavily trafficked international route. Riyadh Air’s initial operations center on deploying its newly built long-haul-capable 787-9 fleet to establish a mix of regional and long-haul services. The company’s phased schedule — beginning with London and immediately adding key regional capitals and leisure/business markets — aims to position the carrier quickly on both intercontinental and high-density domestic sectors. Outlook Over the coming weeks, Riyadh Air will monitor performance on the RUH–JED sector and early international routes as it integrates additional 787-9 aircraft into service. Continued on-time deliveries from Boeing and smooth regulatory coordination will be essential as the airline ramps up to the planned network that includes Dubai, Cairo, Madrid and Manchester. If the carrier maintains its delivery and launch cadence, Riyadh Air could establish a reliable core network of regional and long-haul routes by mid-summer 2026. --- ## From waiter to entrepreneur: How an OFW built a Filipino snack brand in Dubai URL: https://startupsmena.com/from-waiter-to-entrepreneur-how-an-ofw-built-a-filipino-snack-brand-in-dubai-mqercdlj Date: 2026-06-15 Category: other Tags: uae, food-and-beverage, snacks, ofw, entrepreneurship, vj-estander **Summary:** VJ Estander, an OFW who arrived in Dubai as a waiter in 2018, built Great Harvest Foodstuff and Trading Services and launched the Krunchaa snack line using personal savings and side hustles. The business is entirely self-funded and aims to expand distribution across the UAE. VJ Estander , an overseas Filipino worker who first arrived in Dubai in 2018 as a waiter, is now the managing director of Great Harvest Foodstuff and Trading Services after years of side hustles, setbacks and savings. Estander launched Krunchaa, the company’s flagship snack product, using personal savings built from selling dried fish, clothing and packed meals to friends and roommates, and expanded the range to include flavours such as honey coated, nutty chocolate, cookies cream and ube coated. He weathered a year of unemployment during the pandemic and financed the business entirely from his own earnings and household sacrifices after marrying in 2023. “It wasn’t easy. I struggled, failed, and got rejected many times. Through all the challenges, the support of my family, friends, relatives, fellow influencers, and community kept me going,” Estander said, summarising the perseverance behind his transition from hospitality worker to entrepreneur. Estander attributes his entrepreneurial instincts to a lifetime immersed in family businesses in Negros Occidental, where relatives ran restaurants, fish farms and poultry ventures. He recalled a formative setback: a small food shop his parents opened was demolished just a month after it opened. “I still remember that painful moment. Just a month after we built our food shop in the Philippines, it was demolished right in front of us. We collected each part of what was left after the demolition. But instead of giving up, I used that experience as a motivation to push myself even more,” he said. In Dubai, Estander combined his hospitality wage with after-hours micro-businesses. Selling dried fish started as supplementary income and evolved into practical lessons in customer service and sales. The pandemic forced him out of work for a full year, a period he describes as testing both his finances and confidence. “I learned that every challenge helps you become a better and stronger version of yourself. For me, failure is not the opposite of success, it is part of the journey towards success,” he said. Product development and market strategy Krunchaa began as a personal project in which Estander developed the concept, selected flavour profiles and shaped the product identity to showcase Filipino-inspired flavours to consumers in the UAE. The line launched with three signature flavours and later added ube coated — the purple yam taste that has become popular in Filipino desserts and snacks. Initial flavours: honey coated, nutty chocolate, cookies cream Expanded: ube coated Company: Great Harvest Foodstuff and Trading Services Funding came from disciplined saving and household sacrifice. After marrying in 2023, Estander and his wife deliberately deferred luxuries and travel to invest in their business plan. He says every dirham saved represented a choice toward building a shared future and a business in the UAE. Outlook Estander began sharing his journey online in 2024 with the aim of inspiring other overseas workers rather than seeking fame. He has set a five-year goal to grow Great Harvest into a stronger brand and to create opportunities for others. “Building a business here is not just about earning income. It’s about creating something meaningful, supporting my family, inspiring fellow OFWs, and proving that dreams built through hard work, humility, and faith are possible,” he said. As Great Harvest builds supplier and distributor relationships in the UAE market, Estander plans to expand product availability and continue promoting Filipino creativity in snacks sold across the Emirates. --- ## ISSF Commits USD 7M to Endeavor Catalyst V to Connect Jordanian Startups With Global Capital URL: https://startupsmena.com/issf-commits-usd-7m-to-endeavor-catalyst-v-to-connect-jordanian-startups-with-global-capital-mqen63zq Date: 2026-06-15 Category: funding Tags: jordan, funding, venture-capital, endeavor, amjad-masad, healthtech, gaming **Summary:** Jordan’s ISSF committed USD 7M to Endeavor Catalyst V to connect Jordanian startups to global growth capital, aiming to help Seed-to-Series A founders access international investors and larger growth rounds. Jordan’s Innovative Startups and SMEs Fund (ISSF) has committed USD 7 million to Endeavor Catalyst V, a global co-investment fund that exceeds USD 300 million, in a move designed to channel international venture capital into Jordanian startups. The agreement, signed in Amman in the presence of Jordan’s Minister of Digital Economy and Entrepreneurship Sami Smirat , marks the launch of ISSF’s second operational phase after completing its first investment cycle through 2025. "The investment will enable the fund to continue strengthening Jordan’s entrepreneurship ecosystem," said Mohammad Al-Muhtasib , CEO of ISSF, at the signing. The partnership agreement was inked by Al-Muhtasib and Allen Taylor , Managing Partner of Endeavor Catalyst. Why the deal matters Endeavor Catalyst is the co-investment arm of Endeavor, the global entrepreneurship network that supports high-growth founders across more than 60 countries. The fund focuses on backing companies in emerging markets, and ISSF’s USD 7 million commitment is intended to create a pathway for Jordanian founders to access growth-stage capital and global investor networks. Endeavor Catalyst V itself is reported to be in excess of USD 300 million in size. Allen Taylor, Managing Partner at Endeavor Investment Fund, underscored Endeavor’s long-term commitment to Jordan: "Since Endeavor entered Jordan in 2009 as its first market in the MENA region, we have been committed across several investment cycles, reinforcing our belief that a sustained presence creates the strongest investment opportunities and insights.” Context and precedents ISSF’s participation in Endeavor Catalyst V represents a strategic use of fund-of-funds-style investing by a national investment vehicle to plug local startups into global capital pools. The announced commitment follows the completion of ISSF’s first operational phase through 2025 and signals a shift toward enabling more cross-border growth rounds for Jordanian companies. Endeavor and its co-investment vehicle already have a track record of supporting Jordanian-founded or Jordan-invested ventures. Notable examples cited in connection with the partnership include Replit , the AI-powered software development company founded by Jordanian entrepreneurs Amjad Masad and Haya Odeh , which has reached a valuation of approximately USD 9 billion. Other Jordanian companies previously backed by Endeavor Catalyst include Tamatem Games , Altibbi , Eon Dental , Tarjama , and Wazn HR . Commitment: ISSF — USD 7 million Fund: Endeavor Catalyst V — >USD 300 million Signatories: Mohammad Al-Muhtasib (ISSF CEO) and Allen Taylor (Managing Partner, Endeavor Catalyst) Presence at announcement: Sami Smirat, Jordan’s Minister of Digital Economy and Entrepreneurship Outlook The key metric to watch will be how much of Endeavor Catalyst V’s capital ultimately flows into Jordanian startups. ISSF’s commitment aims to bridge the gap between early-stage funding and the larger growth rounds needed for regional and global expansion. If the partnership translates into increased growth-stage rounds, it could attract more foreign capital into Jordan’s venture ecosystem and encourage similar fund-of-funds strategies across the region. Investors, founders, and policymakers will be watching whether the second phase of ISSF’s operations, now initiated by this USD 7 million allocation, results in measurable increases in cross-border investments and a new generation of Jordanian companies scaling to international markets. --- ## 15 Fintech VCs Funding Riyadh Startups in 2026 URL: https://startupsmena.com/15-fintech-vcs-funding-riyadh-startups-in-2026-mqen9b9j Date: 2026-06-15 Category: fintech Tags: saudi-arabia, fintech, funding, manar-mahmassani, venture-capital **Summary:** The article profiles at least 15 active local and regional VCs driving Riyadh’s 2026 fintech boom, highlighting major funds and several startups (Stake, Tabby, HALA, Wahed, Mala) that have raised recent rounds or strategic investments. Riyadh’s fintech investment landscape in 2026 is concentrated among at least 15 active local and regional funds that are writing cheques across seed to growth stages, with a heavy focus on payments, lending and enterprise financial software. Saudi fintech raised $969M in H1 2025, the single largest sector by deal value, while more than 280 fintech companies were operating in the kingdom by 2025. Investors named among the most active include STV, Sanabil Investments, Raed Ventures, Wa’ed Ventures and a mix of corporate, sovereign and private VCs and funds of funds that together underpin a crowded funding pipeline as the market heads toward a projected $5.28B in fintech market size by 2030. "Saudi Arabia is a strategic growth market for us, and this round lets us deepen our investment in the Kingdom," said Manar Mahmassani , Co‑CEO of Stake , speaking from Riyadh in 2026. The investor list reads like a who’s who of capital targeting Saudi startup finance. STV, MENA’s largest tech fund, has backed Tabby — now valued at $3.3B — and runs a $100M NICE Fund, focusing on Series A and growth fintech, payments and e‑commerce. Sanabil Investments, the Public Investment Fund arm, co‑led HALA ’s $157M Series B with TPG Rise in September 2025 and operates the Sanabil 500 accelerator. Raed Ventures, with approximately $450M in assets, remains a leading seed and Series A backer and joined HALA’s round as well. Corporate and government vehicles also play major roles. Wa’ed Ventures, Aramco’s $500M VC arm, has deployed roughly $270M across 75+ startups and invested $25M in halal fintech Wahed . Saudi Venture Capital (SVC) has been an anchor LP on multiple vehicles and has committed $1.2B since 2018 as a fund‑of‑funds. Jada, another PIF fund‑of‑funds, has partnered to deploy $200M of venture debt in the kingdom and backed VentureSouq’s FinTech Fund II. Other active Riyadh names include Impact46 — which deployed around SAR 650M and joined HALA’s $157M Series B — and Khwarizmi Ventures, which launched Fund II with a SAR 270M+ first close in 2026. Seed and pre‑seed specialists such as Nama Ventures, Vision Ventures, Outliers Venture Capital and Merak Capital are filling the funnel for payments infra, alt‑credit and embedded finance plays. VentureSouq and Shorooq Partners remain prominent for their hands in payments infrastructure and embedded lending, with both firms involved in early rounds like Mala ’s $7M pre‑seed. A recurring practical requirement for Riyadh fintech deals is regulatory readiness: most rounds expect a clear SAMA or CMA licence path, live transaction volume and unit economics. New tooling is emerging to support diligence: one platform now gives each fund a single trackable link and logs every data room open, allowing founders to see which VCs — including STV and Sanabil — reviewed licence documents before follow‑up calls. Outlook Expect continued capital concentration: large cheques from STV and Sanabil will drive later rounds while seed funds such as Raed, Impact46 and Khwarizmi feed the pipeline. Regulatory clarity and demonstrable volume will remain decisive for deal progression, particularly where licences from SAMA or CMA are required. Funds of funds and PIF‑linked vehicles (SVC, Jada) will keep directing allocation into Saudi fintech, supporting an ecosystem targeting a multi‑billion dollar market by 2030. --- ## Abu Dhabi airports to accept Bitcoin and crypto payments through new fintech partnership URL: https://startupsmena.com/abu-dhabi-airports-to-accept-bitcoin-and-crypto-payments-through-new-fintech-partnership-mqen2mca Date: 2026-06-15 Category: fintech Tags: uae, fintech, crypto-payments, airports, adgm **Summary:** Abu Dhabi Airports, Al Hail Holding and fintech firm Xare launched a pilot to accept Bitcoin, stablecoins and other digital assets at Zayed International Airport under ADGM/FSRA regulation. The project is in testing and aims to deploy a regulated digital wallet and crypto payment rails for inbound travelers. Abu Dhabi Airports has entered a three-way partnership with Al Hail Holding and fintech firm Xare to pilot crypto payment options at Zayed International Airport, aiming to let travellers pay with Bitcoin, stablecoins and other digital currencies. The memorandum of understanding was signed in October 2025 and the initiative is currently in a pilot phase with testing and operational planning under way. The project will operate under the regulatory framework of the Abu Dhabi Global Market (ADGM) and its Financial Services Regulatory Authority (FSRA). "The three-way collaboration between Abu Dhabi Airports, Al Hail Holding, and Xare is focused on deploying a regulated digital wallet alongside crypto payment rails for inbound travelers at Zayed International Airport," officials said in project materials. Project details and regulatory footing The pilot seeks to combine a regulated digital wallet with payment rails that accept a range of digital assets — from Bitcoin to fiat-pegged stablecoins — for purchases across airport merchants. Organisers emphasise that "the project falls under the regulatory umbrella of the Abu Dhabi Global Market and its Financial Services Regulatory Authority," signalling an intent to avoid the regulatory gray zones that have characterised some prior crypto payment experiments. Zayed International Airport serves passengers arriving from dozens of countries, creating a complex multi-currency environment. Project proponents argue that stablecoins, which are pegged to fiat currencies such as the US dollar, could reduce friction at point of sale by minimizing foreign-exchange handling if merchant integration and settlement processes function as intended. How the airport pilot fits into a wider UAE strategy Emirates Airlines has its own agreement with Crypto.com to integrate crypto payments, with a launch targeted for 2026, indicating parallel efforts by both the national carrier and the capital's primary airport. By aligning the airport pilot with ADGM/FSRA oversight, Abu Dhabi Airports and partners aim to deploy solutions that are compliant from day one rather than retrofitted to fit existing rules. The pilot remains in testing, and no merchant acceptance lists or transaction volume figures have been disclosed. Organisers note that operational questions remain: merchant onboarding, wallet user experience, settlement timing and management of volatility for non-stablecoin transactions are all unresolved challenges in a high-throughput environment like an international airport. Outlook If pilot testing proves successful, the integration of regulated wallets and crypto payment rails at Zayed International Airport could create a smoother payments experience for inbound travellers and set procedural and compliance models for wider deployment across UAE transport hubs. However, the initiative's impact for investors and consumers will hinge on measurable outcomes: confirmed merchant acceptance, transaction volumes, settlement reliability and clear procedures for handling non-stablecoin volatility. For now, Abu Dhabi Airports, Al Hail Holding and Xare are positioned to test whether a regulated, ADGM/FSRA-grounded approach can scale in a busy airport environment while complementing other industry moves — such as Emirates' planned Crypto.com integration — toward broader crypto payment acceptance in the UAE. --- ## Two Indian Startups Make It Into Abu Dhabi's Competitive Hub71 Cohort 18 URL: https://startupsmena.com/two-indian-startups-make-it-into-abu-dhabis-competitive-hub71-cohort-18-mqeishwf Date: 2026-06-15 Category: tech Tags: uae, india, climate-tech, healthtech, funding, hub71, ai, uravu-labs, endimension **Summary:** Two Indian startups, Uravu Labs and Endimension Technology, were selected for Hub71 Cohort 18 in Abu Dhabi, joining 25 other companies from a record 2,453 applications. Both will enter a 12-month programme offering in-kind and cash incentives, mentorship, and market access to scale from Abu Dhabi into global markets. Two Indian startups, Uravu Labs and Endimension Technology, have been selected for Hub71 Cohort 18 in Abu Dhabi, joining 25 other companies chosen from a record 2,453 applications across 112 countries. The cohort’s 1.1% acceptance rate makes it one of the programme’s most competitive rounds; the intake expands Hub71’s ecosystem to 525 companies and comprises 27 startups headquartered outside the UAE for the first time. “At Hub71, we enable founders to secure commercial traction and capital, and to grow from Abu Dhabi into global markets,” said Ahmad Ali Alwan , CEO of Hub71. Why the selections matter Both Indian startups will enter Hub71’s 12-month Access Programme, which provides up to AED 250,000 in in-kind incentives and an additional AED 250,000 in cash via a SAFE note, along with mentorship, investor introductions, regulatory support and access to corporate and government partners. Top performers may qualify for follow-on support and pathways to scale from Abu Dhabi into global markets. Uravu Labs (Bengaluru) — Founded in 2019 and led by co-founder and CEO Swapnil Shrivastav , Uravu Labs builds modular systems that produce drinking water from atmospheric moisture using renewable heat sources such as solar, biomass and industrial waste heat. The company uses proprietary liquid salts to absorb and condense atmospheric moisture into pure, mineral-rich water. Uravu’s current customers include India’s hospitality and beverage sectors, and the company is expanding into data centre cooling applications where water demand is rising alongside AI infrastructure buildout. Uravu has raised $6.07 million across multiple rounds, with its most recent Pre-Series A round led by Enrission India Capital and participation from Echo River Capital, Inflection Point Ventures and AWE Funds. Endimension Technology (Mumbai) — Incubated at IIT Bombay, Endimension is an AI-first radiology platform designed to detect abnormalities from chest radiographs and other imaging modalities to reduce misdiagnoses and boost radiologist efficiency. The company highlights India’s acute radiologist shortage—approximately 1:100,000—alongside a retrospective radiology error rate near 30%. Endimension is part of the NVIDIA AI Inception Program and Microsoft for Startups, and has deployed technology across hospitals and radiology labs in India. It raised Rs 6 crore in a Pre-Series A round led by Inflection Point Ventures, with participation from Sucseed Indovation and SINE IIT Bombay. Endimension will join Hub71’s Life Sciences specialist track. Context and cohort composition Cohort 18 includes startups spanning pre-seed to Series A stages and sector-specific tracks: Hub71+ Digital Assets, Hub71+ ClimateTech and Hub71+ Life Sciences. Notable cohort members include EchoTwin, a U.S. company converting municipal vehicle fleets into real-time infrastructure sensing networks, and KPay, a Hong Kong-based fintech that has raised AED 238.7 million and is expanding payment operations from Abu Dhabi. Across the cohort, seven startups join Hub71+ Life Sciences, six join Hub71+ Digital Assets and five join Hub71+ ClimateTech. Hub71 reported that 31% of applications arrived via partner and founder networks. Outlook For Uravu Labs, Hub71 offers direct access to a region where water scarcity is an operational reality and where governments fund climate technology deployment. For Endimension, the programme provides regulatory guidance and institutional introductions in a market investing heavily in AI-driven healthcare. Both startups gain a structured route to scale in the Middle East and beyond while tapping Hub71’s investor and corporate networks to pursue commercial traction and follow-on capital. --- ## Why Saudi Arabia Is Becoming a Global Tech Destination? URL: https://startupsmena.com/why-saudi-arabia-is-becoming-a-global-tech-destination-mqeh664r Date: 2026-06-15 Category: tech Tags: saudi-arabia, ai, funding, vision-2030, neom **Summary:** Saudi Arabia is transforming from an oil-centered economy into a global technology hub via Vision 2030, large projects like NEOM, active investment from the Saudi Public Investment Fund, and R&D and skills institutions such as King Abdulaziz City for Science and Technology and the Saudi Digital Academy. Saudi Arabia is accelerating its shift from an oil-centered economy to a global technology destination through a combination of strategic policy, heavyweight projects and targeted investments. Launched in 2016, Saudi Vision 2030 provides the roadmap for diversification; flagship initiatives include the $500 billion NEOM smart-city project and expanded activity by the Saudi Public Investment Fund to bankroll startups and accelerators. Institutions such as King Abdulaziz City for Science and Technology and training efforts like the Saudi Digital Academy underpin the push to build domestic R&D capacity and digital skills. "Saudi Arabia is on its way to becoming the next global hub due to its visionary leadership, substantial investments in technology, and a commitment to fostering innovation in every sector," the planning narrative states, encapsulating the country's stated ambitions. That ambition is already being translated into concrete measures. NEOM, described as a linear smart city powered by renewable energy, is intended to integrate artificial intelligence, robotics and sustainable energy systems into urban life. The announced $500 billion investment for NEOM positions it as one of the largest single technology-forward urban developments globally and a focal point for attracting startups and large tech players alike. Beyond NEOM, the Saudi Public Investment Fund has been active in directing capital to early-stage businesses and supporting accelerator programmes that provide funding, mentorship and resources. The government has also sought to knit together research, academia and industry through entities such as King Abdulaziz City for Science and Technology, designed to support R&D collaboration and commercialisation. At the same time, the Saudi Digital Academy aims to upskill citizens in areas including data analysis, coding and cybersecurity to feed the growing tech labour market. Policy framework: Saudi Vision 2030 (launched 2016) sets diversification targets across tourism, entertainment and technology. Major projects: NEOM — a $500 billion smart city focused on AI, robotics and renewable energy. Investment channels: Saudi Public Investment Fund backing startups and accelerator programmes. R&D and skills: King Abdulaziz City for Science and Technology and the Saudi Digital Academy drive research and workforce development. Sector opportunities: cloud, AI, e-commerce, hospitality, travel, tourism and entertainment (including the Red Sea project). Strategic geography also bolsters Saudi Arabia’s pitch to global tech firms. Positioned as a bridge between Europe, Asia and Africa, the kingdom is investing in transport, telecommunications and logistics to improve connectivity — from major airports and ports to telecommunications infrastructure — thereby easing market access for companies and talent. Domestic demand is rising as well: digital transformation across healthcare, finance and education is expanding the addressable market for tech products and services. Looking ahead, the next phase for Saudi Arabia will hinge on execution: turning headline investments into operational hubs, ensuring that education pipelines meet industry needs, and converting regulatory reforms into a predictable environment for long-term technology firms. With Vision 2030 as its compass and projects like NEOM as testbeds, Saudi Arabia has stacked many of the building blocks required to attract global tech capital — the challenge now is delivering measurable commercial ecosystems that sustain those investments over the long term. --- ## Saudi university secures five US nanotech patents URL: https://startupsmena.com/saudi-university-secures-five-us-nanotech-patents-mqeh3tq3 Date: 2026-06-15 Category: tech Tags: saudi-arabia, nanotech, patents, research, prince-sattam-university **Summary:** Prince Sattam bin Abdulaziz University in Al-Kharj secured five US patents for nanotechnology inventions covering sensors, smart materials and doped nanomaterials aimed at energy, environmental and medical applications. The patents reflect the university’s push to commercialize research and support Saudi Vision 2030 objectives. Prince Sattam bin Abdulaziz University in Al-Kharj has secured five patents from the United States Patent and Trademark Office for innovations in nanotechnology, marking a significant intellectual property milestone for the institution. The patents were developed by a research team from the university’s College of Science and Humanities and cover inventions in the manufacturing of sensors, smart materials and doped nanomaterials aimed at various biological applications. "The achievement reflects the university’s commitment to a supportive research environment and to advancing scientific innovation in line with Saudi Vision 2030," the university said, framing the patents as part of a broader strategy to strengthen the national innovation ecosystem. The newly granted US patents span technologies with potential applications across the energy, environmental and medical sectors. Among the claimed advances are methods and materials that could improve efficiency in the production and detection of hydrogen peroxide — a chemical with roles in industrial processes, environmental remediation and medical diagnostics — as well as sensor platforms and engineered nanomaterials tailored for biological interfacing. Researchers from the College of Science and Humanities led the work that produced the intellectual property portfolio. The university has emphasized that the inventions were developed as part of institutional efforts to support scientific research and enhance knowledge production tied to national development goals. While the specific patent numbers and individual inventors were not published in the announcement, the disclosure highlights targeted outcomes such as improved hydrogen peroxide production and detection and the fabrication of doped nanomaterials for biological use. Implications and technical focus The patented technologies suggest several technical and commercial pathways: Sensors: Novel manufacturing approaches for sensor devices, potentially enabling more sensitive or selective detection of chemical and biological species. Smart materials: Engineered materials with responsive properties suited for environmental or biomedical functions. Doped nanomaterials for biological applications: Tailored nanoscale materials incorporating dopants to tune electrical, optical or catalytic behavior for use in diagnostics, therapeutics or bio-sensing. Designing doped nanomaterials and sensor manufacturing processes can accelerate translation from lab prototypes to commercially viable products when paired with robust IP protection such as US patents. The statement from the university pointed to anticipated benefits in energy and environmental applications as well as medical diagnostics — sectors where improved detection and process efficiency can yield measurable technical and economic gains. Looking ahead, the university indicated these patents form part of an ongoing push to bolster the institution’s research output and to feed into Saudi national development objectives. Continued commercialization will likely depend on follow-on steps: publication of technical details, engagement with industry partners for scale-up, and identifying pathways for licensing or startup formation. By securing US patents, Prince Sattam bin Abdulaziz University extends its reach into international intellectual property markets, positioning its research teams to attract collaboration and investment that could help translate laboratory advances in nanotechnology into deployed solutions across energy, environment and healthcare domains. --- ## Saudi delegation explores global best practices in AI governance URL: https://startupsmena.com/saudi-delegation-explores-global-best-practices-in-ai-governance-mqeh1bh5 Date: 2026-06-15 Category: tech Tags: saudi-arabia, belgium, germany, ai, data-governance, policy, world-bank, saudi-data-and-ai-authority **Summary:** A Saudi delegation led by the Saudi Data and AI Authority, in partnership with the World Bank, completed a five-day programme in Brussels and Berlin to review global best practices in data governance, AI and digital policy frameworks and to transfer international expertise to Saudi Arabia. A Saudi delegation led by the Saudi Data and AI Authority, in partnership with the World Bank, completed a five-day international programme in Belgium and Germany to review global best practices in data governance, artificial intelligence and digital policy frameworks. The delegation held specialised sessions and consultations in Brussels and Berlin with European and international entities, government and nonprofit organisations, and think tanks focused on AI governance and digital policy. "The initiative aligns with the goals of Saudi Vision 2030 and the Year of AI 2026, and supports efforts to transfer knowledge and expertise to the Kingdom," officials said, underlining the programme's role in feeding international experience into national strategy. The programme sought both to showcase Saudi Arabia’s progress in building a national data and AI ecosystem and to learn from established international frameworks. Over five days the Saudi authority and World Bank teams examined advanced practices in digital policy development, the design of regulatory frameworks for data and AI, and mechanisms to strengthen international cooperation and knowledge exchange. Locations: Brussels and Berlin. Duration: five days. Organisers/partners: Saudi Data and AI Authority and the World Bank. Engagements: meetings with European and international entities, government and nonprofit organisations, and think tanks. Participants reviewed the Kingdom’s existing work in promoting responsible use of advanced technologies and highlighted achievements in data governance, digital policy and regulatory frameworks. Discussions spanned cross-border challenges created by emerging technologies, data governance and privacy, and regulatory approaches to responsible innovation. Officials emphasised the twofold objective of the delegation: to transfer international expertise back to Saudi Arabia and to position the Kingdom as an active partner in global conversations on AI governance. The programme's sessions included exchanges with policymakers and experts to better align regulatory design with international standards while preserving national priorities. According to organisers, the meetings also focused on practical tools and policy models that can be adapted to the Saudi context, including frameworks that balance innovation with safeguards on privacy and security. The delegation assessed how to integrate these models into national efforts to build a sustainable ecosystem for data and AI, supporting deployment across public and private sectors. Outlook Officials described the programme as part of sustained efforts to deepen international cooperation and build partnerships with leading global organisations and institutions. By drawing on the World Bank’s involvement and dialogue with European bodies and think tanks in Brussels and Berlin, the Saudi Data and AI Authority aims to refine regulatory capacity and accelerate knowledge transfer ahead of the Year of AI 2026. Delegation leaders indicated further collaboration and follow-up exchanges are expected as the Kingdom implements lessons from the visits into policy development and regulatory design, with the ultimate goal of strengthening Saudi Arabia’s global position in data and AI while advancing national priorities under Saudi Vision 2030. --- ## Baghdad, Erbil join top 1,000 startup cities URL: https://startupsmena.com/baghdad-erbil-join-top-1000-startup-cities-mqegy8v6 Date: 2026-06-15 Category: tech Tags: iraq, baghdad, erbil, startupblink, startups, funding, ecosystem **Summary:** StartupBlink's 2026 Global Startup Ecosystem Index ranks Baghdad and Erbil among the world's top 1,000 startup cities, highlighting growing entrepreneurial activity in Iraq while the country remains outside the top 100 national ecosystems. Iraq has two cities among the world's top 1,000 startup hubs in the 2026 Global Startup Ecosystem Index compiled by StartupBlink: Baghdad and Erbil. The ranking — part of the annual index that maps and scores global startup activity — nonetheless leaves Iraq outside the top 100 national startup ecosystems, while flagging the country as an emerging market with notable growth potential. Direct quote "Iraq remained outside the world's top 100 startup ecosystems in the 2026 Global Startup Ecosystem Index published by StartupBlink, despite being identified as an emerging market with growth potential," the report states. Context and details The StartupBlink 2026 index places both Baghdad and Erbil within the top 1,000 cities worldwide for startup activity, a milestone that reflects increasing entrepreneurial engagement in Iraq despite ongoing structural and business-environment challenges. The report singles out the Middle East and North Africa (MENA) region for recording "strong growth in startup activity during 2026," and lists Iraq among regional markets that are now drawing attention for their potential to deepen innovation ecosystems. Baghdad and Erbil's inclusion signals pockets of concentrated startup activity — founders, small investor networks, co-working spaces and nascent acceleration programmes — that together have pushed those cities onto the global map. While the index does not publish a single consolidated score for each city in the excerpt cited, being ranked among the top 1,000 typically reflects measurable metrics such as startup density, funding rounds, ecosystem support infrastructure and global connectedness. The broader finding that Iraq remains outside the top 100 national ecosystems underscores persistent obstacles. These include limited access to early-stage and venture capital funding, regulatory and institutional barriers, infrastructure constraints and security-related investor caution. Startups in Baghdad and Erbil continue to operate in an environment where scaling beyond local markets can be difficult, even as domestic demand and specialist talent pools offer opportunities for sector-specific growth. Baghdad and Erbil: included among the world's top 1,000 startup cities in the 2026 index. Iraq: not ranked within the top 100 national startup ecosystems in 2026. MENA region: highlighted for "strong growth in startup activity during 2026." Index publisher: StartupBlink's Global Startup Ecosystem Index 2026. Outlook The inclusion of Baghdad and Erbil in the top 1,000 offers a platform for local stakeholders to push for stronger support systems — investor networks, regulatory reforms and programmes that can translate latent potential into sustainable, investable startups. As StartupBlink identifies Iraq as an emerging market within a region showing robust startup momentum, the coming years will be critical for converting recognition into tangible gains: increased funding flows, cross-border partnerships, and ecosystem services that help Baghdad- and Erbil-based startups grow beyond domestic markets. For entrepreneurs and investors watching the region, the 2026 index sends a mixed but actionable message: progress is visible at the city level, but sustained national ecosystem development remains a work in progress. --- ## Abhishek Rungta: India’s GCCs Are at Their Most Critical Inflection Point in 25 Years. Here Is What Must Change URL: https://startupsmena.com/abhishek-rungta-indias-gccs-are-at-their-most-critical-inflection-point-in-25-years-here-is-what-mus-mqe46t2o Date: 2026-06-14 Category: tech Tags: india, ai, gcc, abhishek-rungta, saas **Summary:** Abhishek Rungta, Founder & CEO of INT. (Indus Net Technologies), warns India’s Global Capability Centres must shift from cost‑arbitrage to AI‑native, outcome‑oriented hubs or risk marginalisation as boards reassess value. India’s Global Capability Centre (GCC) ecosystem stands at a pivotal inflection point, driven by scale and a pressing need to shift purpose. The latest NASSCOM‑Zinnov figures put the number of GCCs in India at 2,117 as of FY26, employing 2.36 million professionals and generating $98.4 billion in annual revenue. More than one‑third of Fortune Global 500 companies now operate GCCs in India, and over 1,200 centres have embedded AI and machine learning capabilities — but leaders warn that mere scale no longer guarantees strategic relevance. “The decisions made over the next 18 to 24 months will determine which GCCs become genuine global enterprise nerve centres and which are reduced to execution arms, consolidated, or restructured when global boards reassess value,” said Abhishek Rungta , Founder CEO of INT. (Indus Net Technologies Ltd.). Rungta — speaking from three decades of enterprise delivery experience across 45 countries — argues that the historical mandate for efficiency and cost arbitrage is ending. He points to recent surveys showing intent to evolve: an EY GCC Pulse Survey 2025 found 92% of GCC leaders say their centres now contribute far beyond cost arbitrage and 87% aim to manage end‑to‑end processes for their global parents. At the same time, more than 58% of GCCs are actively investing in Agentic AI, according to the same EY data. Legacy operating models: Rungta warns many GCCs were built for “efficiency, execution and cost leverage,” with technology stacks reflective of tools available five years ago and leadership structures optimised for reporting rather than owning outcomes. AI as architecture, not layer: “You cannot build an AI‑native enterprise capability centre on a foundation designed for cost arbitrage. The physics do not work,” Rungta said, emphasising that grafting AI onto broken processes only accelerates poor outcomes. Talent and leadership gaps: KPMG data showing over 70% of GCC leaders identify talent as the top risk is, in Rungta’s view, a misdiagnosis. The shortage is not of AI tool users but of people who can “think in systems, translate between business context and technical architecture, and own an outcome rather than execute a specification.” Rungta lays out three specific shifts GCCs must undertake to remain central to enterprise strategy. First, performance measurement must move from utilisation and ticket metrics to business outcomes such as revenue impact, product velocity and decision quality. Second, relationships with service partners need to evolve from transactional vendor management to co‑creation with shared accountability. Third, AI strategy must be owned by leaders fluent in both technology and business trade‑offs, rather than split between siloed tech teams and business budget owners. He also highlights structural imperatives: replacing inherited workflows that were never designed for autonomy and speed, longer talent development cycles with broader functional rotations, and greater senior‑level accountability for outcomes. The NASSCOM‑Zinnov report asserts that 75% of India’s GCCs have the potential to evolve into portfolio or transformation hubs over the next five years — but Rungta cautions that potential alone will not convert into strategic value without urgent operational reengineering. Outlook: GCCs that treat AI as the operating architecture and rewire measurement, talent development and partner models stand to become the “global enterprise nerve centres” Rungta envisions. Those that persist with cost‑arbitrage mindsets risk consolidation or marginalisation as boards reassess where meaningful value is created. --- ## Star51 Capital Announces First Close of Medtech Venture Fund URL: https://startupsmena.com/star51-capital-announces-first-close-of-medtech-venture-fund-mqe431nd Date: 2026-06-14 Category: funding Tags: healthtech, medtech, funding, ai, star51, tal-wenderow, adam-rosenwach, corindus **Summary:** Star51 Capital closed the first close of its inaugural medtech venture fund with anchor commitments from Abbott and Mayo Clinic. The operator-led, AI-enabled fund is led by Founding Managing Partners Adam Rosenwach and Tal Wenderow and will invest across interventional therapies, diagnostics, monitoring and digital health. Star51 Capital has announced the first close of its inaugural medtech venture fund, led by anchor commitments from Abbott and Mayo Clinic and backed by senior medtech executives, physicians and life-science professionals. The operator-led fund will invest in early- and growth-stage companies across interventional therapies, diagnostics, monitoring and the digitalization of healthcare, sourcing opportunities from the United States, Europe and the Middle East. "Medtech is at an inflection point. Technology advancements and AI are reshaping how devices are designed, delivered, and personalized. That transformation is happening now," said Tal Wenderow , Founding Managing Partner of Star51 Capital. The fund is led by Founding Managing Partners Adam Rosenwach and Tal Wenderow. Rosenwach brings experience in senior operating and finance roles across medtech incubators and high-growth startups, including Coridea and Deerfield Catalyst . Wenderow is the founder of Corindus Vascular Robotics and is credited with steering its $1.1 billion acquisition by Siemens Healthineers; he later served as a venture partner for a global medtech strategic. The leadership team also includes Operating Partners Raymond W. Cohen , Scott Pantel and Joe Mullings . Cohen is described as having engineered more than $5 billion in exit value as CEO and Chairman of multiple medtech companies. Scott Pantel is founder and CEO of LSI and is positioned to provide access to global medtech deal flow and strategic acquirer relationships. Joe Mullings leads The Mullings Group Companies and will contribute executive search capabilities alongside Dragonfly , a medtech marketing platform. Star51 is structured as an "ecosystem fund" that pairs strategic capital with deep operator networks to accelerate portfolio companies through clinical validation, regulatory clearance and scaling toward broader clinical adoption. The fund leverages an internal AI platform, StarVision™, and brings together domain experts, venture partners and medtech executives who have invested their own capital as limited partners, aligning their financial interests with portfolio outcomes. Operational advantages and strategic partnerships Anchor investors: Abbott and Mayo Clinic led the fund's first close. Target areas: interventional therapies, diagnostics, monitoring, and digital healthcare. Geographic scope: United States, Europe and the Middle East. Ecosystem assets: StarVision™ AI platform, Dragonfly marketing platform, and executive search via The Mullings Group. "Star51 is not a traditional venture fund. It's an ecosystem built by operators, for operators," said Adam Rosenwach. "What sets Star51 apart is the caliber of our ecosystem: leading strategic investors, operating partners who have built and scaled category-defining companies, and a network that gives founders the clinical insight, commercial access, and strategic relationships they need to grow and scale." By assembling experienced operators who have both invested personally and committed professional time, Star51 aims to offer hands-on guidance spanning clinical, commercial, regulatory and intellectual property disciplines. The fund emphasizes practical support to bring products to market and generate value across the healthcare system, using strategic acquirer relationships and proprietary market intelligence to help portfolio companies reach inflection points. Outlook With anchor commitments from Abbott and Mayo Clinic and a leadership bench that includes executives who have driven more than $5 billion in exits and navigated a $1.1 billion acquisition, Star51 positions itself to play a bridging role between innovation and acquisition in medtech. Its operator-led, AI-enabled approach intends to accelerate companies from clinical validation to scale, targeting investments where the convergence of medtech and AI can drive new rounds of clinical and commercial adoption. --- ## ZCG Arabia Launches Dedicated Platform for Shariah-Compliant Financing Solutions to SMEs in Saudi URL: https://startupsmena.com/zcg-arabia-launches-dedicated-platform-for-shariah-compliant-financing-solutions-to-smes-in-saudi-mqdzs19v Date: 2026-06-14 Category: funding Tags: saudi-arabia, funding, shariah-compliant, ai, zcg **Summary:** ZCG Arabia, the Riyadh-based platform of Z Capital Group, has launched a direct financing platform offering Shariah-compliant, senior secured and asset-based financing alongside operational and AI-driven support for SMEs in Saudi Arabia. ZCG Arabia , the Riyadh-based platform of Z Capital Group, LLC (ZCG), has launched a dedicated direct financing platform to provide Shariah‑compliant financing solutions and operational support to high‑growth small and medium-sized enterprises (SMEs) across Saudi Arabia. The new platform forms part of ZCG’s integrated regional push and is intended to deliver tailored capital — including senior secured and asset‑based structures — alongside operational and technology capabilities to businesses operating in the Kingdom. "Saudi Arabia represents one of the most compelling long-term growth markets in the region, particularly within the SME and mid-market segments," said James Zenni , Founder, President, and Chief Executive Officer of ZCG. "Through our KSA direct financing platform, our objective is to provide senior secured and asset-based structures, along with additional Shariah‑compliant financing solutions tailored to the needs of businesses operating in the Kingdom. By combining capital with operational and technological capabilities across ZCG’s broader platform, we believe we can support businesses beyond a traditional financing relationship and seek to position them for long‑term, sustainable growth." Platform features and regional positioning ZCG Arabia builds on ZCG’s global footprint — the firm was founded in 2006 by James Zenni and is headquartered in New York — and leverages an approach that combines private markets asset management, consulting services and AI‑powered technology. ZCG reports approximately 400 professionals across New York, Mumbai, Pune, Warsaw, Singapore and Riyadh, and notes its principals have invested "tens of billions of dollars" across private equity and credit strategies over nearly three decades. ZCG Arabia will offer Shariah‑compliant financing options alongside senior secured and asset‑based lending structures designed for SMEs and mid‑market firms. The platform is complemented by ZCG Consulting (ZCGC), which focuses on operational optimisation and long‑term value creation for portfolio companies. Technology capabilities will be supported by Haptiq, ZCG’s AI‑powered enterprise platform intended to improve workflow efficiency, operational performance and decision‑making via advanced analytics and integrated digital solutions. The launch is timed amid Saudi Arabia’s ongoing economic transformation under Vision 2030, where the development of a vibrant private sector and SME ecosystem is a national priority. The company specifically references complementary government initiatives and programmes such as Monshaat and Kafalah that aim to expand SME access to finance and support entrepreneurship across sectors. Outlook ZCG Arabia’s entry into the Saudi direct financing market signals a strategic bet on the Kingdom’s SME and mid‑market segments. By combining capital deployment with consulting and AI‑driven tools, ZCG aims to move beyond one‑off lending to more integrated support that targets operational improvement and sustainable growth. Media contact for ZCG is listed as ZCG Media & Global Communications, Tel. 212‑595‑8400, zcgmedia@zcg.com. --- ## During the first week of June 2026, startup investments reach $258.5 million - إنت عربي URL: https://startupsmena.com/during-the-first-week-of-june-2026-startup-investments-reach-2585-million--mqdvimjw Date: 2026-06-14 Category: funding Tags: uae, egypt, logistics, gaming, ai **Summary:** Three deals between June 1–6, 2026 drove $258.5M in regional startup funding, led by a $250M logistics round in the UAE and smaller seed and recycling rounds in gaming and circular-economy startups. Startup investments across the Middle East, Africa and the Gulf reached $258.5 million during the first week of June 2026, driven by three completed deals between June 1 and June 6. The largest share of capital flowed to the United Arab Emirates, followed by Egypt, as two disclosed rounds in logistics and gaming combined with an undisclosed-value investment in recycling pushed total funding above a quarter of a billion dollars. "total investments exceeded $258.5 million," the weekly investment figures show, reflecting a concentrated week in which a single large logistics round accounted for the vast majority of deployed capital. Deals and participants CargoX — Autonomous delivery services (UAE): Raised $250 million in a funding round led by a consortium that included BlueFive Capital. The round is earmarked to support expansion in autonomous logistics, development of vehicle technologies, strengthening operational infrastructure and forming long-term partnerships across e-commerce, retail and logistics. SPARQ — AI-powered game engine development (UAE): Secured $8.5 million in a seed round with early participation from the Scout Fund of Andreessen Horowitz (a16z). SPARQ’s founders had previously invested around $2.5 million of their own capital over more than two years to build a proprietary C++ game engine comprising over 3 million lines of code. The company has also grown a team of more than 20 engineers and amassed a waitlist of over 6,000 content creators prior to the raise. DAWAR — Recycling tracking and verification (Egypt): Closed a six-figure funding round from GlobalCorp, Tawasoa and the Commercial International Bank (CIBP). The capital will be used to expand verification and tracking infrastructure for recyclable material flows, and to improve documentation of waste movement to meet regulatory and international market transparency requirements. The concentration of capital in one very large transaction — CargoX’s $250 million round — shaped the week’s headline figure. CargoX’s financing stands out not only for its size but for its strategic aims: scaling autonomous logistics across the UAE and into international markets, advancing vehicle-level technology, and reinforcing operational capabilities that can integrate with major e-commerce and retail partners. SPARQ’s seed round highlights continued investor appetite for AI-enabled content tools and gaming infrastructure. The participation of the Scout Fund from Andreessen Horowitz signals international investor interest in regionally based deep-technology gaming platforms. SPARQ’s founders’ prior $2.5 million personal investment and the company’s engineering-heavy approach underline the capital intensity and technical depth behind the seed-stage raise. DAWAR’s undisclosed six-figure round, backed by GlobalCorp, Tawasoa and CIBP, reflects growing funding activity in circular economy and supply-chain transparency solutions. The company said the funds will strengthen its capacity to verify and trace recyclable materials — a capability increasingly demanded by regulators and global buyers seeking verifiable, transparent supply chains. Outlook With three deals generating more than $258 million in a single week, the region’s investment activity remains capable of producing outsized totals from a small number of transactions. Market observers will watch whether the logistics sector continues to attract similarly large checks and whether early-stage players in gaming and sustainability can convert current investor interest into follow-on rounds and commercial scale across regional and international markets. --- ## The Gulf states are betting big on AI: who’s investing where? URL: https://startupsmena.com/the-gulf-states-are-betting-big-on-ai-whos-investing-where-mqdrf281 Date: 2026-06-14 Category: tech Tags: mena, startup **Summary:** Gulf states are now frontrunners in the AI race but competition will only intensify. The Gulf states have emerged as heavyweight backers of artificial intelligence, funneling billions into startups, data centres and chip supply as part of an aggressive push to capture future economic growth. Sovereign and private investors from Saudi Arabia, the UAE, Qatar and Oman have taken stakes in marquee AI and space plays — including a $3 billion investment by the PIF-backed AI venture HUMAIN into xAI’s $20 billion Series E, holdings that converted into SpaceX shares after xAI’s merger — while regional investors also participated in funding rounds for Anthropic and OpenAI. "At a moment when capital spending on AI infrastructure is climbing into the hundreds of billions of dollars, the Gulf’s appetite for scale and speed gives Washington something rare: an external accelerator," said Mohammed Soliman, a senior fellow at the Middle East Institute. That appetite is visible across multiple fronts. SpaceX is widely tipped for a blockbuster listing valued at around $1.77 trillion, a windfall for Gulf shareholders who include HUMAIN, Prince Alwaleed’s Kingdom Holding, the Oman Investment Authority, the Qatar Investment Authority, the International Holding Company and Alpha Dhabi Holding. Abu Dhabi’s MGX also took part in xAI’s most recent funding round and participated in Anthropic’s fundraising. Anthropic itself raised $65 billion in a Series H round that pushed its valuation to $965 billion, surpassing OpenAI’s most recent private valuation of $852 billion. Anthropic said funding from investors including MGX will be used to expand computing capacity as demand accelerates. The competition for compute is a central challenge: training ever-larger models requires large, secure supplies of chips, power and data-centre capacity. Major projects and strategic partners Stargate UAE: a campus planned to deliver up to 5 gigawatts of compute for AI data centres in Abu Dhabi, with a 1-gigawatt compute cluster as a flagship element and a first phase of 200 megawatts expected to be operational before year-end. Estimated cost and partners: the Stargate UAE campus is being developed at roughly $30 billion by Abu Dhabi’s G42 in partnership with OpenAI, Oracle, Nvidia, Cisco and SoftBank. Hardware supply: the UAE recently received its first shipment of Nvidia chips to help construct the 5GW AI campus. The Gulf’s pivot to AI follows an earlier era of speculative tech bets. Sovereign funds including Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala were notable investors in SoftBank’s original $93 billion Vision Fund, a vehicle that suffered high-profile setbacks such as WeWork’s bankruptcy and restructuring. Those lessons appear to have informed a broader shift toward investing in infrastructure and foundational AI assets rather than only risky consumer startups. Policy goals underline the urgency: Saudi Arabia has set a target for AI to contribute 12% of GDP by the end of the decade, while the UAE aims for 40% by 2031. With major public and private players already committed to chip purchases, data-centre construction and equity stakes in leading AI developers, competition among Gulf states to secure strategic positions in the global AI supply chain is likely to intensify through the remainder of the decade. --- ## JLL expands technology solutions across the Middle East as 87% of real estate investors raise tech budgets URL: https://startupsmena.com/jll-expands-technology-solutions-across-the-middle-east-as-87-of-real-estate-investors-raise-tech-bu-mqdrb5so Date: 2026-06-14 Category: tech Tags: uae, saudi-arabia, ai, expansion, jll, real-estate, saas **Summary:** JLL has expanded its Technology Solutions offering across the Middle East to provide integrated advisory, implementation and managed technology services, deploying AI, automation and cloud asset-management platforms for investors, developers and occupiers. JLL has expanded its Technology Solutions capabilities across the Middle East, offering investors, developers and occupiers a single point of contact for integrated advisory, implementation and managed technology services. The firm — which entered the region with its Technology Solutions arm in late 2024 — said the move will deploy AI tools, automation systems and cloud‑based asset management platforms to deliver data‑driven insights across the full real estate lifecycle. JLL reported annual revenue of $26.1 billion and a global workforce of more than 113,000 as of March 31, 2026, and said its MEA operation covers 35 countries with over 1,800 internationally qualified professionals in offices including Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar, Cairo, Casablanca, Cape Town, Johannesburg and Nairobi. “Across the Middle East, we’re seeing real estate leaders move past the question of whether to use AI and start asking how to use it well,” said Dr. Matthew Marson , Managing Director, EMEA - Technology Advisory at JLL. “Many organisations have experimented, but too often the technology sits in silos or never quite makes it into day‑to‑day decision‑making. Our focus is on helping clients bridge that gap. By connecting data, systems and teams, we’re making AI practical, usable and valuable - giving our clients clearer visibility of their portfolios and the confidence to make better decisions, faster.” The expansion follows research published by JLL showing rapid adoption of AI across commercial real estate: the number of companies running CRE AI pilots rose from under 5% in 2023 to 92% in 2025, while 87% of investors reported they are increasing technology budgets. JLL said CRE teams are directing resources to high‑impact priorities such as portfolio optimisation, energy management and data‑related workflows that align with C‑suite objectives. JLL described the regional rollout as an end‑to‑end offer that consolidates advisory, implementation and managed services to help clients operate more efficiently and extract long‑term value from assets. Michael Ewert , Global Head of Technology Advisory Services at JLL, commented: “This expansion represents a step change in how real estate technology solutions are delivered. It provides access to end‑to‑end, integrated capabilities delivered locally, supporting portfolios across every stage of the real estate lifecycle.” What JLL is offering in the Middle East Technology Advisory: consultants will produce short‑ and long‑term roadmaps and guide investment and implementation decisions to future‑proof portfolios against advances in AI and automation. Implementation Services: specialist deployment support for Integrated Workplace Management Systems (IWMS) with partners including IBM MREF, ServiceNow, FM:Systems and Archibus by Eptura. Managed Services: end‑to‑end planning, implementation and operational management backed by governance frameworks to optimise ROI and reduce overhead. AI‑powered asset management: JLL Asset Beacon will centralise operational, financial and leasing data to maximise portfolio performance. Business intelligence: JLL Azara, powered by Falcon, will unify platforms and deliver adaptive AI‑driven insights. JLL also highlighted an Outsource CRE Technology Oversight service that bundles technology planning through to solution management into a single delivery model intended to accelerate innovation and improve outcomes for owners and occupiers. With investors boosting technology spend and CRE teams prioritising use cases tied to investment performance, JLL’s integrated regional offering positions it to play a larger role in shaping how data and AI are operationalised across Middle East real estate portfolios. --- ## Spain’s East Crema Coffee launches crowdfunding campaign to fuel growth URL: https://startupsmena.com/spains-east-crema-coffee-launches-crowdfunding-campaign-to-fuel-growth-mqdr7t68 Date: 2026-06-14 Category: funding Tags: spain, coffee, crowdfunding, expansion, alberto-valverde **Summary:** Spanish specialty coffee group East Crema Coffee has launched a crowdfunding campaign to finance domestic outlet growth and kickstart planned international expansion across Europe, the Middle East and Asia. The company is positioning the round to fund new cafés, increased roasting capacity and initial overseas market entry. Spanish specialty coffee group East Crema Coffee has launched a crowdfunding campaign to finance further domestic outlet growth and to kickstart planned international expansion, the company confirmed on 12 June 2026. The move comes after two years of exploring expansion opportunities across Europe, the Middle East and Asia, and follows a period of steady brand development in Spain, where the group operates roasteries and café locations, including a store in Valencia. “We want to be an international brand with a local soul,” said Alberto Valverde , Founder and CEO of East Crema Coffee, encapsulating the company’s dual focus on preserving local identity while scaling abroad. East Crema is positioning the crowdfunding round as a vehicle to accelerate its store rollout at home while establishing footholds in selected overseas markets. Company materials and public comments indicate the funds will be allocated to opening new outlets in Spain, expanding its roasting capacity, and supporting launch activities in targeted international territories. The brand has spent the past two years assessing opportunities in Europe, the Middle East and Asia, signalling a measured, research-driven approach to market entry. Domestic expansion: capital to support new café openings and increased roasting capacity. International strategy: target regions include Europe, the Middle East and Asia following two years of market evaluation. Brand positioning: maintain a “local soul” while evolving into an international name under CEO Alberto Valverde’s guidance. East Crema’s Valencia outlet — one of its visible retail locations — is highlighted in company imagery and has been used as part of the brand story as it seeks to export its formula overseas. The group combines a specialty-roasting operation with café service, a vertical model common among European specialty coffee players aiming for tight quality control and consistent consumer experience across stores. The crowdfunding campaign represents a strategic choice: rather than relying solely on private equity or debt, East Crema is turning to a broad investor base that can include loyal customers, small investors and fans of the brand. Crowdfunding can also serve a marketing function, raising customer engagement and local awareness as new outlets are inked. East Crema’s leadership has previously signalled interest in international growth while stressing the importance of adapting to local markets — a theme echoed in Valverde’s statement about balancing international ambition with local character. Looking ahead, execution will hinge on selecting the first overseas markets, securing suitable retail sites, and scaling roasting and supply-chain operations to maintain product consistency. If the crowdfunding round meets its targets, East Crema is likely to prioritize a phased rollout to markets in Europe and the Middle East before progressing further into Asia, consistent with the company’s recent market assessments. For now, the campaign sets the timetable: successful fundraising will trigger the next stage of expansion planning, while the brand continues to build its presence in Spain from flagship locations such as Valencia. --- ## Dubai wants 295,000 companies to embrace the next wave of AI URL: https://startupsmena.com/dubai-wants-295000-companies-to-embrace-the-next-wave-of-ai-mqdiv9u1 Date: 2026-06-14 Category: tech Tags: uae, ai, saas, ignyte, dubai-ai-campus **Summary:** Dubai launched an initiative to onboard 295,000 companies to AI, target creation of 100 specialised AI assistants and establish 50 agentic AI firms, supported by platforms and hubs such as Ignyte and the Dubai AI Campus. Dubai has launched an expansive push to bring 295,000 companies into the next wave of artificial intelligence adoption, setting specific targets that include the development of 100 specialized AI assistants and the establishment of 50 Agentic AI firms. The initiative sits alongside a range of programmes and platforms that have already shown traction in the emirate’s burgeoning AI ecosystem. "The initiative aims to support 295,000 companies, develop 100 specialized AI assistants and help establish 50 Agentic AI firms." The drive to mainstream AI adoption is supported by several operational hubs and online platforms. The Ignyte mentoring platform has grown to more than 36,000 users and has facilitated over 3,000 mentoring sessions for entrepreneurs and startups, providing a digital pipeline for skills transfer and business coaching. Physical infrastructure is also expanding: the Dubai AI Campus now hosts more than 400 specialized companies and has trained over 1,500 participants through its AI Academy. Programmes and capacity-building Ignyte: 36,000+ users and 3,000+ mentoring sessions, positioned as a mentoring and startup support platform. Dubai AI Campus: Home to 400+ specialized companies and the AI Academy, which has trained 1,500+ participants. Targets under the new initiative: outreach to 295,000 companies, creation of 100 specialized AI assistants, and the founding of 50 Agentic AI firms. Those figures indicate a two-pronged approach: scale outreach to existing businesses while seeding new, high-capability AI ventures. The target to develop 100 specialized AI assistants suggests a focus on vertical or task-specific models that can be deployed across sectors, while the 50 Agentic AI firms target implies support for companies building autonomous agentic systems. The combination of digital mentoring through Ignyte and concentrated on-the-ground activity at the Dubai AI Campus aims to reduce friction for companies exploring or scaling AI use. Ignyte’s mentoring sessions have already provided direct, human-led support for thousands of engagements, and the AI Academy’s training of more than 1,500 participants demonstrates early capacity development in technical and applied AI skills. Context and implications By setting numeric goals across company support, assistant development and new firm formation, the programme frames AI adoption as both an industrial policy objective and an economic development lever. The emphasis on specialised assistants and agentic firms points to a strategy that balances immediate productivity tools with longer-term investments in autonomous AI capabilities. For startups and established businesses, the benefits include access to mentoring, training and a cluster of specialised companies at the Dubai AI Campus. For the broader market, the concentrated targets create measurable milestones to track adoption progress. Outlook Execution will determine impact: meeting outreach and firm-creation targets will require coordinated policy, funding, talent pipelines and private-sector engagement. If Ignyte continues to scale mentoring and the AI Academy expands training throughput, the initiative could accelerate commercial deployments of specialised AI assistants across multiple industries. Progress toward the 50 Agentic AI firms will be a key indicator of how quickly the ecosystem can move from adoption to innovation in autonomous AI. --- ## Meet the 10 EdTech innovators on Africa’s business heroes 2026 list URL: https://startupsmena.com/meet-the-10-edtech-innovators-on-africas-business-heroes-2026-list-mqdirvd3 Date: 2026-06-14 Category: tech Tags: mena, startup **Summary:** Established in 2016 by Shrouk Alaa Eldin and Mohamed Akmal, Career 180 has become one of Egypt’s fastest-growing EdTech platforms. Ten education-focused startups from across Africa and the MENA region — including Egypt’s Career 180, Nigeria’s FlexiSAF Edusoft, and Rwanda’s Africa Quantitative Sciences — have been named among the 2026 Africa’s Business Heroes Top 100, highlighting a wave of innovation in EdTech, vocational training, financing models and digital learning. Career 180, established in 2016 by Shrouk Alaa Eldin and Mohamed Akmal, is singled out as one of Egypt’s fastest-growing EdTech platforms, connecting students and recent graduates with mentors, employers and training opportunities across the Middle East and North Africa. "Study Now, Pay Later," said Chancen International's guiding slogan, encapsulating the Income Share Agreement model the Kigali-based non-profit uses to expand access to higher education. Ten organisations on the list Africa Quantitative Sciences (AQS) — Rwanda: Founded by Hinda Ruton and based in Kigali, AQS converts unstructured data into digital solutions and has sponsored cybersecurity and technology programmes with partners including Carnegie Mellon University Africa and Johns Hopkins University. BluLever Education — South Africa: Founded in 2019 by Jess Roussos and Adam Collier, BluLever offers industry-aligned apprenticeships that follow the Quality Council for Trades and Occupations framework and lead to NQF Level 4 certification and eligibility for the Red Seal trade test. Career 180 — Egypt: Founded in 2016 by Shrouk Alaa Eldin and Mohamed Akmal, Career 180 delivers online courses, mentorship programmes and career guidance to improve employability for youth across MENA. Chancen International — Rwanda: Founded in 2018 by Batya Blankers, Florian Kollewijn and Olaf Lampson, the organisation funds tuition through Income Share Agreements, with repayments linked to graduates’ earnings and paused if income falls below thresholds. EYouth (Eyouth Co) — Egypt: Founded by Mustafa Abd Ellatif in 2016, EYouth offers interactive learning in entrepreneurship, technology and business and has expanded into Saudi Arabia, the UAE and Iraq. FlexiSAF Edusoft Limited — Nigeria: Founded in 2010 by Faiz Bashir, Alamin Ibrahim and Abubakar Manga, FlexiSAF builds school management systems that support student registration, fee management, transcript generation, online teaching and AI-powered course creation. Faiz Bashir also serves on an Edugist advisory board. iSchool — Egypt: Founded in 2018 by Muhammad Gawish, Ibrahim Abdullah and Mustafa Abdelmoneim, iSchool teaches coding and digital skills to children aged 6–18 with courses in AI, VR, app and game development, Python, JavaScript and Scratch. Lions Tutoring — Botswana: Founded by Thobo Khathola, Lions Tutoring operates a cross-border tutoring network with home tuition, learning centres and virtual platforms across Botswana, South Africa and Kenya. Quartz Academy — India-focused online coaching: Founded by Nikhil Sherekar, Quartz specialises in Geology and Earth Sciences coaching for exams such as IIT JAM and CSIR NET. UMAMI E-Learning Solutions — Egypt: Founded by Ahmed Seif El-Din, Ahmed Ghonim and Hatem Askar, UMAMI has delivered platforms to more than 10 million learners across over 25 countries, offering school management, TVET solutions and performance-tracking tools. These organisations illustrate multiple approaches to education: from apprenticeship models and school administration digitisation to AI-powered course creation and income-contingent financing. Several — including BluLever’s QCTO-aligned curriculum and FlexiSAF’s administrative systems — emphasise formal accreditation and integration with national frameworks, while Chancen’s Income Share Agreement targets financial barriers to higher education. Outlook: inclusion on the ABH Top 100 can accelerate visibility, partnerships and potential funding opportunities for these ventures. With demonstrated reach — UMAMI’s 10 million learners and FlexiSAF’s decade-long presence in Nigerian schools — the cohort is positioned to scale impact across national borders, align training to labour-market needs and advance digital capacity across the continent and the wider MENA region. --- ## AXON announces first digital-fiat currency orchestration ecosystem in the MENA region URL: https://startupsmena.com/axon-announces-first-digital-fiat-currency-orchestration-ecosystem-in-the-mena-region-mqdip143 Date: 2026-06-14 Category: fintech Tags: uae, mena, fintech, digital-payments, axon, malek-al-zubi **Summary:** Dubai-headquartered AXON launched a digital-fiat currency orchestration ecosystem to unify payments, transfers and lending across banks, wallets, stablecoins and local rails across the MENA region. The platform — starting with AXON Transfer, then AXON Pay and planned AXON Lend — targets a roughly $50 billion regional digital payments opportunity. AXON , a Dubai-headquartered financial infrastructure company, today launched what it describes as the first integrated digital-fiat currency orchestration ecosystem in the MENA region, aiming to combine payments, transfers and lending into a single platform. The company said its suite — led by AXON Transfer and followed by AXON Pay and the planned AXON Lend — will connect banks, wallets, stablecoins, local payment rails and liquidity providers to address fragmentation in cross-border and domestic settlement. The announcement cites global cross-border flows of more than $200 trillion annually and over $250 billion in fees, and positions the platform to capitalise on a roughly $50 billion digital payments opportunity across the region. "Financial infrastructure remains unnecessarily fragmented," said Malek Al-Zubi , Co‑Founder and CEO of AXON. "Businesses today are forced to navigate multiple providers, payment rails, compliance systems, and settlement networks simply to move money globally. We believe the future belongs to orchestration platforms that unify these experiences into a seamless financial layer. AXON was built to bridge traditional finance and digital assets while providing the flexibility, compliance, and scalability required by modern enterprises." Platform components and partners AXON Transfer, the company's flagship product, is described as a multi‑rail settlement and money movement platform that orchestrates transactions across traditional banking networks, stablecoins, local payment systems, FX markets and digital asset infrastructure. AXON Pay will enable merchants and businesses to accept and settle transactions across both traditional and blockchain‑based payment methods through a unified experience. AXON Lend is positioned as a future lending and liquidity layer to unlock credit facilities and financing for participants in the digital economy. Headquarters: Dubai, United Arab Emirates Planned investor event: Private Investor Reception in Riyadh on June 16, 2026 Regulatory engagement: active processes in the United Arab Emirates and Canada Infrastructure partners named: Maarej, Hex Trust, Elliptic, Privy and Banxa Founders' institutional experience includes work with Saudi Aramco, the Saudi Royal Court and Ahli Bank Context and regulatory posture AXON positions itself in a growing category the company calls "Traditional to Digital financial settlement orchestration," platforms that layer routing, settlement and liquidity management across heterogeneous financial rails. The company said industry peers operating in this space have processed hundreds of billions of dollars in transaction volume and generated substantial revenues from payments, settlement and liquidity services. AXON emphasised regulatory compliance as a core pillar of its strategy and noted it is actively working to satisfy licensing and framework requirements in target markets, specifically the UAE and Canada. To underpin enterprise‑grade operations, AXON has formed technical and compliance partnerships with custody, identity, onboarding and compliance vendors. Named partners — Maarej, Hex Trust, Elliptic, Privy and Banxa — are intended to strengthen custody, AML/KYC and fiat‑to‑crypto on‑ and off‑ramp capabilities, the company said. Outlook AXON will host an investor reception in Riyadh on June 16, 2026, to bring together investors, banks, regulators and partners to discuss payments, settlement and lending infrastructure across the region. With a phased product roadmap from Transfer to Pay and Lend, the company aims to reduce operational friction between traditional finance and digital asset networks and to position the Middle East as a hub for integrated payment and settlement infrastructure. --- ## TiE Dubai Opens Women-Focused Startup Program : TechMoran URL: https://startupsmena.com/tie-dubai-opens-women-focused-startup-program-techmoran-mqdimigm Date: 2026-06-14 Category: tech Tags: uae, mena, funding, women-entrepreneurs, tie-dubai, nokia **Summary:** TiE Dubai has opened applications for the 2026 TiE Women MENA Program, a women-focused initiative supporting early- to growth-stage startups across MENA; applications close June 25 and the programme offers mentorship, investor access and equity-free prize funding with regional finals at GITEX 2026. TiE Dubai opens applications for seventh TiE Women MENA cohort, closing June 25 TiE Dubai has opened applications for the 2026 edition of its TiE Women MENA Program, the seventh run of the women-focused initiative that supports early- to growth-stage startups across the Middle East and North Africa. Applications close on June 25 and are open to women founders or co-founders who hold at least a 33% stake in ventures founded from January 2019 onwards. The move comes as investment activity in the region shows signs of recovery, with startups across MENA raising about $150 million in April across 27 deals. “Women founders continue to demonstrate resilience and the ability to adapt in uncertain environments,” said Carlina Marani and Shameema Parveen , co-chairs of TiE Women MENA. The programme expects to shortlist roughly 45 to 50 startups for 2026, which will be organised into five competitive tracks covering the UAE, Saudi Arabia, Egypt, Emirati founders and the wider Middle East. Winners from each track will advance to a regional final scheduled to take place virtually in September, with MENA-level finals planned for December during GITEX 2026 — offering top founders exposure to global investors and industry leaders at one of the region’s largest technology events. Eligibility: women founders/co-founders with ≥33% equity; ventures established on or after January 2019. Programme offerings: mentorship, investor access, pitch training, networking and equity-free prize funding. Timeline: applications close June 25; regional virtual finals in September; MENA finals at GITEX in December 2026. The programme is supported by Nokia as the official partner, alongside long-term collaborators TECOM, Dubai Internet City and in5 Innovation Centers. Nokia positioned its involvement within an economic argument for inclusion, citing research that expanding women’s participation in entrepreneurship and the workforce could increase GDP per capita in the MENA region by more than 30% over time. Since its global launch, TiE Women has received more than 11,000 applications and supported over 500 startups; within the MENA region the initiative has engaged with more than 1,000 women-led businesses. The scale and longevity of the programme underline continued corporate and institutional interest in supporting gender-diverse entrepreneurship even as funding markets begin to show recovery. The TiE Women MENA Program explicitly targets startups at early and growth stages, reflecting an effort to bridge the funding and mentorship gap that many female founders face. The equity-free prize funding and investor access components are designed to accelerate scaling while preserving founders’ ownership — a point organisers say is particularly important in markets where capital is often scarce or conservatively allocated. Organisers say the five-track structure aims to surface market-specific opportunities and challenges across the region, while a unified regional final and a high-profile MENA showcase at GITEX create a pathway for selected startups to reach international investors and partners. With regional investment activity recovering — evidenced by the $150 million raised in April — the programme’s timing is intended to give women-led startups a stronger chance to capitalise on renewed investor interest. --- ## ECLAT Health Solutions Completes Management Buyout from Gulf Capital, Opening Next Chapter of Growth URL: https://startupsmena.com/eclat-health-solutions-completes-management-buyout-from-gulf-capital-opening-next-chapter-of-growth-mqdemvit Date: 2026-06-14 Category: healthtech Tags: uae, healthtech, management-buyout, ai, gulf-capital, eclat-health **Summary:** ECLAT Health Solutions completed a management buyout from Gulf Capital, returning full ownership to its founders and management after a five-year partnership that drove tenfold revenue and EBITDA growth and expanded the workforce to over 4,000. ECLAT Health Solutions has completed a management buyout (MBO) from Gulf Capital , returning full ownership of the revenue cycle management (RCM), risk adjustment and healthcare technology company to its founders and management team. The move closes a five-year partnership that saw ECLAT grow its workforce from 450 to more than 4,000 employees across the United States, India and the Philippines, and achieve a tenfold increase in both revenue and EBITDA—equating to a 75% EBITDA compound annual growth rate over five years. "When we partnered with Gulf Capital in 2020, we had a clear vision for what ECLAT could become—and together we executed against that vision with focus, discipline and ambition," said Karthik Polsani , founder and group CEO, ECLAT Health Solutions. Context and deal details Under Gulf Capital’s majority ownership, ECLAT expanded beyond core RCM services into payer-centric risk adjustment and healthcare technology, anchored by its proprietary AI and analytics platform, evaire. The company describes evaire as being "powered by agentic AI and deep payer expertise" and capable of end-to-end chart retrieval and review, risk adjustment coding, Confidence Scoring, payer analytics and other functionality aimed at improving coding accuracy and payer interactions. Workforce expansion: from 450 to more than 4,000 employees across the U.S., India and the Philippines. Financial performance: 10x growth in revenue and EBITDA during the five-year partnership; 75% EBITDA CAGR. Service diversification: broadened RCM services plus payer-focused risk adjustment and technology offerings. Leadership highlighted operational professionalization during the Gulf Capital partnership. "Gulf Capital was a true strategic partner throughout the journey, supporting us in strengthening our leadership team, expanding our capabilities and scaling the business to new levels of performance," Polsani added. Sneha Polsani , founder and COO, said the partnership "accelerated this journey and positioned ECLAT for sustainable, long-term growth," and signalled an intent to deepen provider and payer partnerships while pursuing "selective strategic opportunities." Gabe Stein , CEO of ECLAT Health Solutions, framed the MBO as a launch point for continued expansion. "Our next chapter is about building on this momentum," he said. "ECLAT has the scale, client trust, technology platform and operating depth to continue growing organically while also pursuing strategic opportunities that expand our capabilities and strengthen the value we deliver to healthcare organizations." Gulf Capital perspective and wider significance Gulf Capital characterized the transaction as one of the most successful realizations in its history. Mohammad Madani , Managing Director at Gulf Capital, framed the investment as a standout in the firm’s Fund III portfolio and pointed to Gulf Capital’s Control Growth Buyout model as the mechanism for scaling ECLAT into a "diversified and technology-enabled RCM and risk adjustment business." Gulf Capital notes it has closed 44 investments since 2006 and deployed over $3 billion in alternative investments across seven funds and vehicles. Fouad Daher , Executive Director at Gulf Capital, emphasised the depth of the partnership with ECLAT’s leadership team: "Together with Karthik, Gabe, Sneha and the broader leadership team, we expanded the platform meaningfully across services, geographies, technology and talent, creating a business of real scale, resilience and strategic depth." With full ownership back in the hands of its founders and management, ECLAT is positioned to continue leveraging its evaire platform, clinical coding expertise and enlarged service footprint as it seeks organic growth and targeted strategic opportunities in the U.S. healthcare market. --- ## Middle East healthcare shifts to resilient supply chains, early diagnosis and greener labs URL: https://startupsmena.com/middle-east-healthcare-shifts-to-resilient-supply-chains-early-diagnosis-and-greener-labs-mqdefszh Date: 2026-06-14 Category: healthtech Tags: uae, healthtech, diagnostics, sustainability, guido-sander **Summary:** GCC health systems are prioritising resilient diagnostics supply chains, sustainable procurement and earlier disease detection, with diagnostics firms and ministries aligning on lifecycle value, greener labs and expanded access to simple tests. Healthcare systems across the Gulf Cooperation Council are shifting procurement and delivery priorities toward supply-chain resilience, sustainable procurement and earlier disease detection after the Covid-19 pandemic exposed vulnerabilities in medical supplies and diagnostics networks. Diagnostics firms and health ministries are aligning on longer-term value in purchases, more efficient laboratory operations and expanded access to simpler diagnostic tests, while policymakers emphasise early diagnosis, preventative care and lifecycle sustainability. "In our line of work, the stakes are simply too high for supply chains to fluctuate, because a delay in a diagnostic result directly impacts a patient’s treatment timeline," said Guido Sander , General Manager at Roche Diagnostics Middle East . Context and details The pandemic revealed how fragile global medical supply chains can be, prompting governments and providers to treat diagnostics infrastructure as a strategic priority. Sander warned that "fragmented, unreliable testing networks are a massive vulnerability," and framed diagnostics as integral to national security and universal healthcare systems. Across the GCC, procurement strategies are moving away from lowest‑cost, short‑term purchases toward models that prioritise lifecycle costs, energy efficiency and waste reduction. Sander argued that "sustainability… means operating with a long-term mindset; ensuring more people can benefit from innovation today without compromising the world they will live in tomorrow." That emphasis is translating into demand for lower‑footprint instruments, leaner chemistry and digital workflows, which he said "translates into real, measurable value for ministries, payers, and ultimately, the patients." Policymakers in the region are reportedly converging on a set of long‑term goals despite differing resources and system maturity. Key priorities include advancing early diagnosis, strengthening preventative care, and embedding sustainability into procurement and operations. A major focus is on diseases that have historically been underdiagnosed—Alzheimer’s disease is highlighted as a pressing example, with "an estimated 75% of people… undiagnosed" and many patients experiencing multi‑year delays before confirmation. Supply resilience: Treating diagnostics supply chains as strategic infrastructure to avoid delays that impact treatment timelines. Sustainable procurement: Prioritising long‑term value, reduced waste, and lower energy use in lab equipment and consumables. Early diagnosis: Expanding access to simpler tests to catch chronic and neurodegenerative diseases earlier in their course. Digitalisation: Building a digital intelligence backbone to enable population health management and disease prevention at scale. Outlook New diagnostic approaches aim to simplify testing and expand accessibility—"by replacing costly PET scans or invasive procedures with a simple… blood draw, we are opening the door to diagnosis at the absolute 'dawn' of the disease," Sander said—potentially shortening the time to diagnosis for conditions like Alzheimer’s. Digitalisation and AI‑led systems are expected to underpin the next phase of transformation, moving health systems away from isolated laboratories toward integrated, data‑driven care models that support population health management. However, Sander cautioned that these advances will only deliver their full value if they are accessible: "All this innovation only matters if it translates into equitable access," highlighting an ongoing policy challenge for regional health systems as they seek to balance resilience, sustainability and inclusivity in healthcare delivery. --- ## Dhahi Khalfan leads smart healthcare transformation at Dubai Medical University Hospital URL: https://startupsmena.com/dhahi-khalfan-leads-smart-healthcare-transformation-at-dubai-medical-university-hospital-mqdejge0 Date: 2026-06-14 Category: healthtech Tags: uae, healthtech, ai, dhahi-khalfan, lootah-charitable-foundation **Summary:** The Saeed Ahmed Lootah Charitable Foundation, chaired by Lieutenant General Dhahi Khalfan Tamim, is steering Dubai Medical University Hospital toward a smart, AI-enabled healthcare and academic hub, emphasizing governance, institutional readiness and community partnerships. The Saeed Ahmed Lootah Charitable Foundation has launched a targeted push to transform Dubai Medical University Hospital into a smart, governance-driven academic healthcare hub, with Lieutenant General Dhahi Khalfan Tamim chairing the Foundation’s second Board of Trustees meeting for 2026 at the hospital. Board members including Engineer Yahya Saeed Ahmed Lootah , Engineer Hussein Nasser Lootah , Dr. Mohammed Murad Abdullah and Dr. Ahmed Al Haddad reviewed operational readiness, plans to expand services, and the integration of artificial intelligence and other smart technologies across clinical and administrative functions. “The future of healthcare is not defined by service expansion alone, but by building systems capable of managing quality, ensuring patient safety and integrating technology into decision‑making,” Lieutenant General Dhahi Khalfan Tamim said, calling for “measured growth and performance‑based trust.” The Board convened on site to assess what officials described as a pivotal phase for both the hospital and Dubai Medical University, part of the Foundation’s non‑profit academic healthcare ecosystem that links medical care, education, clinical training and advanced technology. Board members toured key installations, including an AI‑powered control room designed to support hospital operations and clinical workflows, an elderly care wing and a VIP wing, and received briefings on ongoing improvements to patient experience systems. Governance and institutional readiness Members emphasised strengthening governance, financial oversight and administrative readiness as prerequisites to expansion. The Board examined systems for patient safety, service quality and efficiency, and discussed reinforcing technical infrastructure to support the next phase of development. Engineer Yahya Saeed Ahmed Lootah stressed the Foundation’s preference for solid institutional foundations before embarking on broader growth. “We want a hospital that clearly understands why each service is provided, who it serves, and how its quality is measured before expanding it,” he said, underlining that artificial intelligence and smart technologies are central to improving patient access, streamlining operations and enhancing resource management. Discussions also covered academic alignment at Dubai Medical University, with an emphasis on strengthening training programmes to prepare professionals capable of responding to rapid shifts in medical practice and technologies. The Board reviewed plans to align curricula and clinical training with the hospital’s evolving technological capabilities to ensure graduates are ready for smart healthcare environments. Community partnerships and next steps The meeting included a presentation by representatives of “Goodness Courts,” outlining potential collaboration on community and humanitarian initiatives and signalling a drive to embed social impact into the Foundation’s healthcare strategy. Board members called for clearer project governance, discipline in financial management and measurable performance indicators across ongoing and future development projects. Key attendees: Lieutenant General Dhahi Khalfan Tamim; Engineer Yahya Saeed Ahmed Lootah; Engineer Hussein Nasser Lootah; Dr. Mohammed Murad Abdullah; Dr. Ahmed Al Haddad. Site highlights: AI‑powered control room, elderly care wing, VIP wing, upgraded patient experience systems. Priorities: institutional maturity, patient safety, technical infrastructure, academic alignment and community collaboration. Looking ahead, the Board concluded by reaffirming its commitment to a balanced, governance‑led approach that combines operational readiness, talent development and advanced technologies. Officials said this direction will strengthen the Foundation’s role in healthcare, education and community service, and enhance the position of Dubai Medical University Hospital and Dubai Medical University as contributors to the future of healthcare in Dubai and the UAE. --- ## Hind Seddiqi - The Middle East's Most Influential CMOs- Forbes Lists URL: https://startupsmena.com/hind-seddiqi-the-middle-easts-most-influential-cmos-forbes-lists-mqded07y Date: 2026-06-14 Category: other Tags: uae, luxury, events, marketing, hind-seddiqi **Summary:** Hind Seddiqi, chief marketing and communications officer at Seddiqi Holding and CEO of Dubai Watch Week, led the 10th-anniversary Dubai Watch Week in November 2025, driving a 113% YoY visitor increase to 49,000 and generating over $18 million in PR value. Hind Seddiqi , chief marketing and communications officer at Seddiqi Holding and CEO of Dubai Watch Week , has been named among the Middle East’s most influential CMOs. Seddiqi joined the family business — founded as a luxury watch and jewelry retailer in 1950 — in 2006 and has overseen a period of expanded brand programming and audience growth, most notably during Dubai Watch Week’s 10th anniversary showcase in November 2025. "This resulted in a 113% YoY increase in visitors at 49,000, and more than $18 million generated in PR value." The milestone anniversary of Dubai Watch Week was staged inside Dubai Mall at an 18,580-square-meter venue, bringing over 100 international collectors, six international collector clubs and more than 90 international brands under one roof. Those figures underline the scale of the event’s comeback and the commercial and reputational returns under Seddiqi’s marketing leadership. Role and responsibilities Designation: Chief Marketing & Communications Officer, Seddiqi Holding CEO: Dubai Watch Week Board member: Dubai Chamber of Digital Economy Advisory council member: American University of Sharjah Seddiqi’s career arc inside the family business began in 2006, two generations after the company was established in 1950 as a luxury watch and jewelry retailer. Her remit bridges corporate marketing and the curatorial, promotional and operational demands of a large-scale cultural trade event. Dubai Watch Week’s anniversary figures — 49,000 visitors and more than $18 million in PR value — provide a quantifiable measure of the event’s reach and the brand amplification Seddiqi has driven. The event’s international draw was notable: attendance included over 100 international collectors, the participation of six distinct international collector clubs and representation from more than 90 global brands. Those elements not only strengthened the event’s content but also reinforced Seddiqi Holding’s positioning as a convenor in the luxury watch ecosystem, fostering connections between collectors, brands and regional audiences. Context and influence Beyond the watch exhibition, Seddiqi’s influence extends into institutional and advisory roles. She sits on the board of the Dubai Chamber of Digital Economy and on the advisory council for the American University of Sharjah, signaling an engagement with both industry policy and academic collaboration. These positions align with a broader remit that spans audience development, sector advocacy and educational outreach. The visitor surge and PR valuation tied to the 10th anniversary highlight a tandem of earned media success and experiential programming. For a family business that traces its roots to 1950, Seddiqi’s stewardship reflects a concerted push to translate heritage into contemporary cultural capital, leveraging exhibitions and partnerships to expand the brand’s footprint. Outlook Looking ahead, the challenge for Seddiqi and Seddiqi Holding will be to sustain the momentum generated in 2025: translating one-off event successes into longer-term audience retention and deeper industry ties. Her positions with the Dubai Chamber of Digital Economy and the American University of Sharjah position her to influence the next phase of sector development, blending marketing strategy with institutional engagement. If the 10th anniversary metrics are any indication, the organisation’s ability to attract collectors, brands and global attention under her leadership will remain central to its strategy. --- ## Rising Stars: African Startups Join World’s Top Tech Program URL: https://startupsmena.com/rising-stars-african-startups-join-worlds-top-tech-program-mqda5wh8 Date: 2026-06-14 Category: tech Tags: kenya, nigeria, tunisia, agritech, circular-economy, ai, masschallenge, funding **Summary:** MassChallenge selected 14 African startups among 193 global finalists for its Switzerland and UK 2026 cohort, highlighting solutions in agritech, circular economy infrastructure, deep tech and digital health across multiple African regions. MassChallenge has named 193 early-stage finalists from a global pool of nearly 2,000 applications across 47 countries for its Switzerland and United Kingdom 2026 cohort, and 14 of those finalists are startups based in Africa. The selected African founders span agritech, deep tech, circular economy infrastructure and digital health, with participants from West, East, Southern and North Africa tackling post-harvest losses, supply-chain finance, waste circularity and emergency-response routing. "One of the world's most competitive non-equity startup accelerators," the programme's selection underscores the international interest in scalable solutions emerging from African markets. The cohort includes enterprises such as Bridge Merchant Enterprise (Nigeria), CornHouse (Cameroon), Entomo Farm (Zambia), Ustawi Nutritional Care (Kenya), Healthy Seaweed Co. (Tanzania), Nuru Solutions (Kenya), M-Taka Solutions (Kenya), CHITELIX (Tunisia), FirstAI.d (Nigeria) and Thur Biotech (Ethiopia). From farms to satellites: what the African cohort is building Several agritech and supply-chain innovators in the cohort focus on reducing post-harvest loss and improving farmer access to markets and finance. Bridge Merchant Enterprise in Nigeria has developed a tech-enabled, decentralized logistics and storage network to connect smallholder farmers directly to commercial markets and cut crop spoilage. In Cameroon, CornHouse has created a maize-backed collateral framework that provides independent farmers with secured warehouse access and early access to credit and structured pricing, shielding them from seasonal volatility. Entomo Farm (Zambia) uses black soldier flies to convert organic municipal waste into high-protein animal feed and organic fertiliser, creating closed-loop inputs for regional agriculture. Ustawi Nutritional Care (Kenya) processes orange-fleshed sweet potatoes into vitamin A–rich dietary products using smallholder production blocks to address regional malnutrition. Healthy Seaweed Co. (Tanzania) processes seaweed harvested by women farmers into commercial nutritional products, diversifying fragile coastal economies. Deep tech and data-driven startups in the cohort are also notable. Nuru Solutions (Kenya) combines machine learning and satellite imagery to build resilient data infrastructure for smallholder operations, enabling insurers and financial institutions to assess risk and extend credit more transparently. On circular infrastructure, M-Taka Solutions (Kenya) integrates the Internet of Things, blockchain and AI "in a three-technology architecture that connects informal waste pickers, industrial recyclers, and consumer goods brands," a design the company says will provide traceability and regulatory structure to a historically fragmented recycling sector. North Africa is represented by CHITELIX (Tunisia), which is pioneering marine circularity by transforming industrial seafood waste into enterprise-grade biomaterials such as chitosan, demonstrating biorefining’s industrial potential in the region. In the health and emergency services space, Nigeria’s FirstAI.d is deploying smart routing algorithms and centralised digital payment gateways to deliver critical patient data and connect people with the nearest ambulance infrastructure in real time, while Thur Biotech (Ethiopia) develops microbial soil interventions to reduce dependence on imported synthetic agricultural inputs. Outlook The selection of 14 African startups among the 193 finalists places a spotlight on region-specific innovations that aim for global scalability. With MassChallenge’s non-equity model and international exposure, these companies gain access to corporate partners and investors that can accelerate pilots and scaling. For investors and multilateral stakeholders tracking emerging-market infrastructure, the cohort provides concrete examples of technology-driven approaches — from satellite-enabled risk data to IoT-blockchain recycling traceability — that could be replicated across similar markets. --- ## Tunisia: Connecting startups and agriculture URL: https://startupsmena.com/tunisia-connecting-startups-and-agriculture-mqda8tfw Date: 2026-06-14 Category: tech Tags: tunisia, agtech, agriculture, government, water-management, ai, ez Zeddine-ben-cheikh, inji-doggui-hanini **Summary:** A B2B matchmaking event in Tunis brought 20 Tunisian agri-tech startups together with 200 agricultural operators to surface deployable technologies and foster pilot partnerships addressing water efficiency, soil health and digital services. Twenty Tunisian tech startups and 200 agricultural operators from across the country participated in a B2B event titled “Agricultural Startups – Agricultural Investors,” held Thursday in Tunis by the Agricultural Investment Promotion Agency (APIA) under the theme “Investing in Technology for Resilient Agriculture.” The event brought together innovators and practitioners around five thematic areas — agri‑tech, environmental technology, soil health technology, innovations in animal feed and animal health, and new technologies in aquaculture and fisheries — with the stated aim of creating direct, operational links between startups and farmers. "Startups have demonstrated their ability to provide concrete solutions in several strategic areas, including efficient water management and smart irrigation, improved productivity and product quality, the use of digital technologies and artificial intelligence in agricultural services, and the value‑added processing of agricultural products," Agriculture, Water Resources and Fisheries Minister Ezzeddine Ben Cheikh said as he opened the event, stressing the need for a profound modernization of the agricultural sector through innovation and partnerships with startups. Event design and immediate objectives Organisers structured the day to surface practical, deployable technologies and to improve the visibility of startup solutions for each agricultural value chain. APIA framed the initiative as a matchmaking exercise intended to turn innovation into fieldable solutions and to support Tunisia’s transition toward sustainable, resilient agriculture. Specific objectives included identifying the most suitable technologies for different crops and livestock systems, and facilitating short‑ and medium‑term partnerships between technology providers and agricultural investors. Participants: 20 tech startups and 200 agricultural operators. Thematic areas: agri‑tech; environmental technology; soil health technology; innovations in animal feed and animal health; aquaculture and fisheries technologies. Follow‑up: APIA will pursue contacts established during the event to convert meetings into concrete partnerships. APIA Director General Inji Doggui Hanini framed the meeting as part of a broader pivot toward "sustainable, smart and responsible agricultural investment" in response to water scarcity, climate change and rising production costs. "Around 50 agricultural startups currently benefit from targeted support, specialized training designed to facilitate access to markets and financing, and priority participation in trade fairs, exhibitions and competitions organized by the agency," Hanini said, outlining the agency’s pipeline of backed ventures and services aimed at accelerating market access. Tunisia’s agricultural sector faces multiple longstanding challenges highlighted at the event: climate change impacts, water resource management, preservation of soil and animal health, and improving traceability and marketing of agricultural products. Organisers and speakers agreed that while a growing number of startups are producing innovative, sector‑specific solutions, a persistent gap remains in scaling those solutions through direct investment and farm‑level adoption. Outlook APIA signalled it will actively follow up on the matchmaking outcomes to shepherd pilots and commercial partnerships from conversation to implementation. The agency’s stated commitment to modernising agriculture — through support for startups, encouragement of private investment and stronger links between scientific research and farm practice — sets a clear short‑term agenda: convert meetings into pilots that address water efficiency, soil health and digital service delivery. Success will be measured by concrete partnerships, demonstration projects in the field and broader uptake of the technologies showcased at the Tunis event. --- ## Start a SaaS Business in Dubai, UAE (2026 Guide) URL: https://startupsmena.com/start-a-saas-business-in-dubai-uae-2026-guide-mqda2ldh Date: 2026-06-14 Category: saas Tags: uae, dubai, saas, cloud-computing, kajol-kanojia, jacob-joy-mathew **Summary:** Dubai is highlighted as a leading hub to start SaaS businesses in 2026, driven by strong cloud market growth (projected 18% CAGR 2025–2030), 100% foreign ownership options in free zones, competitive taxes and a skilled talent pool. Dubai has emerged as a prime location for launching Software as a Service (SaaS) companies in 2026, driven by a robust digital economy, regulatory openness and rapid cloud adoption. The UAE’s non-oil GDP grew by 6.8% in 2025, and the UAE cloud computing market is projected to expand at an 18% compound annual growth rate (CAGR) between 2025 and 2030, with SaaS expected to remain the largest segment. Industry guidance produced by Kajol Kanojia and reviewed by Jacob Joy Mathew outlines clear advantages for founders considering Dubai as a base for SaaS operations. "The UAE cloud computing market is expected to grow at an 18% CAGR between 2025 and 2030, with SaaS remaining the largest segment," the guidance states, underscoring the market momentum behind cloud-based software models. Those figures sit alongside concrete macroeconomic indicators that make Dubai attractive to software entrepreneurs. The 6.8% growth in non-oil GDP in 2025 signals rising demand from finance, technology and digital services sectors that are core customers for SaaS offerings. Experts cited in the 2026 guidance argue that this environment reduces customer acquisition friction for products such as CRM platforms, accounting and finance software, HR management systems, project management tools, e-commerce back-ends, EdTech platforms and healthcare applications. Why founders are choosing Dubai 100% foreign ownership in many jurisdictions, enabling full equity control without a local sponsor. Strategic location linking markets across the Middle East, Africa, Europe and Asia, facilitating international expansion. Business-friendly company formation processes and modern infrastructure that simplify licensing and operations. Competitive tax environment that allows reinvestment of profits into product development and go-to-market activity. High internet penetration and rapid technology adoption among both consumers and enterprises. The guidance emphasizes practical steps for entrepreneurs: select the specific SaaS activity (for example CRM, HR or healthcare software), prepare a business plan with revenue projections and pricing models, choose the appropriate jurisdiction (mainland or free zone), and reserve a trade name before registration. Free zones are highlighted as particularly popular for technology startups because they typically offer 100% foreign ownership, simplified formation and startup-friendly packages. Operational advantages are complemented by talent availability. The UAE’s diverse workforce includes professionals skilled in software development, product management, marketing and sales—roles that SaaS firms need to scale. The document also stresses the subscription model benefits inherent to SaaS: lower upfront costs for customers, automatic updates, scalability and global access via web or mobile interfaces. Outlook With the cloud market growing at an anticipated 18% CAGR and a domestic economy increasingly driven by digital services, Dubai presents a compelling proposition for SaaS founders in 2026. Entrepreneurs who align product-market fit with the region’s enterprise and consumer adoption patterns, secure the appropriate licensing and leverage free-zone incentives should find solid opportunities to scale domestically and expand internationally. --- ## Cameroon Pitches High-Potential Sectors to Moroccan Investors Ahead of CFC Africa Tour URL: https://startupsmena.com/cameroon-pitches-high-potential-sectors-to-moroccan-investors-ahead-of-cfc-africa-tour-mqcx84ip Date: 2026-06-13 Category: other Tags: cameroon, morocco, agro-processing, investment, trade, luc-magloire-mbarga-atangana, claver-gatete **Summary:** Cameroon pitched agro-processing, aquaculture, cotton transformation and palm oil production to Moroccan investors ahead of a Moroccan business delegation tied to the Casablanca Finance City Africa Tour in November, seeking partnerships and bankable projects. Cameroon has pitched agro-processing, aquaculture, cotton transformation and palm oil production as priority investment opportunities to Moroccan investors ahead of the Casablanca Finance City Africa Tour scheduled for November. The appeal was made during a meeting on June 10, 2026, between Cameroon’s Minister of Trade, Luc Magloire Mbarga Atangana , and Morocco’s diplomatic representatives and business interlocutors, as authorities prepare to welcome a Moroccan business delegation of 25 companies to Cameroon in November. "The Problem Is Not a Lack of Ideas or Money It's Connecting Them," said Claver Gatete , a remark invoked by Cameroonian officials to frame the government’s pitch to Moroccan investors and underline the emphasis on matchmaking between capital and projects. At the June 10 meeting, Cameroon’s trade ministry outlined concrete sectors where it sees both comparative advantage and immediate investor interest. The four highlighted areas were: agro-processing — to add value to Cameroon’s agricultural output; aquaculture — to expand domestic fish production and reduce reliance on imports; cotton transformation — to move up the value chain beyond raw cotton exports; palm oil production — including downstream processing opportunities. Officials framed the outreach as part of a broader push to translate foreign interest into tangible investments. The planned Moroccan business delegation, composed of 25 companies expected in November, will follow the Casablanca Finance City Africa Tour and is intended to deepen commercial ties and explore project-level deals. Trade and investment chiefs described the November visits as a chance to present bankable projects and negotiate partnerships and joint ventures. The pitch comes as Cameroon seeks to capitalise on renewed investor attention in a year when several headline financial moves and policy measures have shaped the investment climate. Foreign direct investment companies operating in Cameroon are reportedly planning to reinvest US$166.8 million in the coming years, a figure officials have cited to illustrate existing investor commitment. Meanwhile, public-sector measures such as a CFA630 billion recovery plan for electricity procurement and infrastructure projects under discussion, including the Yaoundé bypass and a Kribi bitumen plant, signal an active state role in improving project viability. Cameroonian authorities stressed that targeted incentives and clearer project packaging will be key to converting interest from Moroccan investors into signed deals. Recent actions to accelerate strategic projects — including tax breaks and refining licenses for industrial initiatives — were held up as examples of steps already taken to improve returns for foreign partners. Looking ahead, government and private-sector interlocutors said they expect the Casablanca Finance City Africa Tour and the follow-up Moroccan delegation visit in November to produce memoranda of understanding, letters of intent or joint-venture agreements, particularly in agro-processing and upstream-to-downstream agricultural value chains. Officials see those outcomes as the next step in connecting capital to projects — a dynamic Gatete’s remark encapsulates — and in turning sectoral potential into concrete investment flows before the end of 2026. --- ## Finovate Global Egypt: Investing in Unicorns and Point of Sale Financing Startups URL: https://startupsmena.com/finovate-global-egypt-investing-in-unicorns-and-point-of-sale-financing-startups-mqcoqtrg Date: 2026-06-13 Category: fintech Tags: egypt, fintech, funding, point-of-sale, embedded-payments, mnt-halan, blnk, telda **Summary:** Egyptian fintechs saw major funding and partnerships this week, led by MNT-Halan's valuation jump after a $30M investment from Al Ahly Capital and Blnk's $37M debt and equity round to expand point-of-sale financing, while Telda partnered with Mastercard to embed payments and investment flows. Egyptian fintechs continued to attract significant capital and strategic partnerships this week, led by MNT-Halan ’s valuation surge to $1.4 billion following an initial $30 million investment from Al Ahly Capital, the investment arm of the National Bank of Egypt, and by Blnk ’s $37 million combined debt and equity round supporting point-of-sale financing expansion. Meanwhile, partnerships and product integrations — including a Telda tie-up with Mastercard — signal growing focus on embedded payments and retail credit solutions across the market. "While we have partnered with more than 30 Egyptian banks and financial institutions, this is the first time a commercial bank has become an equity partner in our journey, making this a particularly important milestone for us," Mounir Nakhla , Founder and Chairman of MNT-Halan, said. "Together, we will redefine access to financial services for small and micro businesses, as well as people living in remote towns and villages across Egypt who have historically been underserved." MNT-Halan’s new valuation marks a notable moment for the company, which reached unicorn status in 2023 as the first Egyptian fintech to surpass a $1 billion valuation. The firm disclosed that Al Ahly Capital’s stake represents the first closing of a funding round expected to exceed $70 million, with $30 million already injected. Headquartered in Giza and operating across Egypt, Turkey, the UAE and Pakistan — where it owns a bank serving micro and small businesses — MNT-Halan reports more than 1.5 million quarterly active users, over eight million customers served since its 2018 founding, and more than $15.5 billion in loans disbursed. Investment and partnership activity extended beyond MNT-Halan. Cairo-based Telda announced a collaboration with Mastercard to embed Mastercard’s digital capabilities into Telda’s app, connecting everyday payments and investment wallets. "By embedding Mastercard’s digital capabilities within Telda’s platform, we are creating a seamless bridge between everyday payments and investment opportunities, empowering users to manage, grow, and access their wealth instantly," said Mohamed Assem , Mastercard Country Manager for Egypt, Iraq, Lebanon, and Syria. Telda CEO Ahmed Sabbah added: "The integration of daily payments and the investment wallet within a single app through our collaboration with Mastercard marks a significant leap forward, giving individuals immediate control over their money." Point-of-sale financing remains an active funding theme. Egyptian BNPL provider Blnk raised $37 million in a mix of debt and equity, including $12.5 million in equity led by Algebra Ventures with participation from SANAD Fund for MSME, Endeavor Catalyst, and Emirates International Investment Company, plus $24.6 million in debt facilities from local banks. "This new round of funding positions us to strengthen our profitability—expanding our reach, diversifying our offerings and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond," Blnk Co-founder and CEO Amr Sultan said. Blnk — founded in 2020 and headquartered in Giza — highlighted rapid growth since its 2022 seed round: more than one million customers, a loan portfolio exceeding EGP 1 billion, and profitability in 2025. The company said 75% of its customers were previously unbanked or underserved and more than 35% are women. Its product offers instant approvals at retail using National ID and mobile number, and relies on proprietary AI-driven risk maps and machine learning models to produce real-time Probability of Default predictions for instant credit decisioning. Outlook Further closings and regional expansion are expected for MNT-Halan as it deploys fresh capital across Egypt and neighboring markets. Embedded payments and investing-to-pay flows, exemplified by the Telda–Mastercard integration, could accelerate digital wallet adoption among millennials and Gen Z. Blnk’s mix of equity and local bank debt demonstrates appetite from both investors and lenders for retail financing products that target the largely underbanked Egyptian population. --- ## From farm worker to entrepreneur: How the UAE changed the life of this Filipina expat URL: https://startupsmena.com/from-farm-worker-to-entrepreneur-how-the-uae-changed-the-life-of-this-filipina-expat-mqcon318 Date: 2026-06-13 Category: other Tags: uae, dubai, beauty, entrepreneurship, jeju-skincare, expat-community **Summary:** Judy Dimayuga, a Filipina expat who arrived in Dubai in 2015, became co-owner of Jeju Skincare and works in sales and marketing with Salties Creek while organising community support events for fellow expatriates. Filipina expat Judy Dimayuga transforms farm upbringing into Dubai entrepreneurship and community support Judy Dimayuga , a Filipina who grew up working on her family’s rice farm in Bicol, has spent more than a decade in the UAE building a career in sales and marketing, becoming co‑owner of Jeju Skincare and helping fellow expatriates access opportunities in Dubai. Dimayuga arrived in Dubai in 2015 and credits the city with enabling her professional growth and ability to support her children. “I decided to work abroad to provide for my children, who are my greatest inspiration,” Dimayuga said. Raised by her grandparents, Dimayuga began working in the rice fields at eight years old, harvesting palay and selling rice and vegetables to supplement the family income. At 23 she left the Philippines to seek better prospects abroad. Before settling in Dubai she travelled through Asia using her talent in singing to work in Japan, Malaysia and Singapore — a period she says cost her personal time with family. “For five consecutive years, I didn't go home because of all the challenges I faced abroad as artists,” she recalled. Arriving in Dubai in 2015 brought a cultural adjustment. “At first, it was the culture adjustment. It's a Muslim country and I needed to adopt and respect their culture in all aspects,” Dimayuga said, adding that initial fear gave way to appreciation as she encountered “people who are open to accepting expatriates like me.” Career path: Dimayuga has worked as a secretary and in sales and marketing roles, learning the local market through hands‑on experience. Entrepreneurship: She has started several businesses and is now co‑owner of Jeju Skincare, a move shaped by her work within the beauty industry in the UAE. Community work: Through her role with Salties Creek , where she works in sales and marketing, Dimayuga has helped provide free venue space and snacks for events that let small businesses and talents showcase themselves. Dimayuga describes her entrepreneurship as iterative: “I have started several businesses and although I faced many challenges due to lack of experience, I never gave up. Those experiences strengthened my determination to grow and succeed.” She says studying market flow and meeting people who shared ideas and knowledge were crucial to establishing her current position. In May, she organised a gathering for expatriates facing challenges in the region, aiming to create a “welcoming environment where people could come together, support one another, and be reminded that they are not alone in their journey.” Dimayuga believes such community actions have tangible impact: “Even the smallest acts of kindness can make a lasting difference in someone's life. Because when a community lifts each other up, everyone rises together.” Looking ahead, Dimayuga remains optimistic about the opportunities Dubai offers to determined expatriates. “The UAE is a place where you can improve yourself. It offers overflowing opportunities for expats to have a better life, as long as you do things with genuine intention and fulfill your true purpose,” she said. Her personal motto reflects the spirit that carried her from the rice fields of Bicol to business ownership in Dubai: “Be kind to everyone on your way up, you might cross paths with them again on your way down.” --- ## Why & How to Invest in Dubai Real Estate Market? URL: https://startupsmena.com/why-how-to-invest-in-dubai-real-estate-market-mqcg31x0 Date: 2026-06-13 Category: tech Tags: uae, proptech, real-estate, bayut, property-finder **Summary:** The article compares routes into Dubai real estate in 2026 and highlights platform choices, noting Bayut and Property Finder as leading property portals while summarising tax, fee, yield and financing details for international investors. Dubai real estate still attracts global buyers with tax advantages, yield potential and Golden Visa access Dubai remains a compelling destination for international property investors in 2026, offering a tax-free environment, competitive rental yields and residency incentives. Key facts for buyers: investments of AED 2 million or more can qualify for the UAE’s 10-year renewable Golden Visa; the Dubai Land Department applies a 4% transfer fee on most purchases; and gross rental yields across the city are commonly around 6% to 7%, with some affordable apartment communities reaching 8% to 10%. "Dubai has positioned itself as one of the most attractive global hubs for property investment," the market summary states, underlining a combination of lifestyle and financial returns that appeals to both first-time buyers and seasoned investors. Context and practical details for investors Investors can approach the Dubai market through off-plan projects or ready properties. Off-plan purchases offer lower entry prices and payment plans that can enhance capital appreciation, but they carry construction and handover risks and delay income generation. Ready properties eliminate those delivery risks and allow for immediate rental income, though they typically require larger upfront capital and may deliver lower short-term capital growth. Segments and areas: Luxury assets such as Palm Jumeirah, Downtown Dubai, Emirates Hills and Dubai Hills Estate tend to favour capital appreciation and suit high-net-worth buyers. Mid-tier communities like Jumeirah Village Circle, Business Bay and Al Furjan offer balanced risk-return profiles. Affordable zones including International City, Dubai South and Dubai Sports City typically deliver higher yields and lower entry costs. Costs and fees: Expect a 4% DLD transfer fee on most purchases and annual service charges that vary by community; these can materially reduce net yields and must be included in underwriting. Financing: Mortgage availability for non-resident investors commonly ranges from financing up to 50% to 75% of property value, depending on residency, property type and lender policies. Legal and developer risk: Investors are advised to prioritise RERA-registered developers with proven delivery records to reduce the risk of delays and post-handover issues. Platform choice matters in a fast-moving market. Bayut is presented as a "data-driven, AI-led property intelligence platform" with deep inventory in premium and luxury segments and stronger tools for verification. Property Finder is characterised as a search-and-finance-focused portal with broad coverage of affordable and mid-market communities and a multi-country GCC presence, making it suitable for budget-conscious end-users and investors. Outlook For investors focused on rental income, selected affordable communities still report yields in the 8%–10% range, while citywide averages sit around 6%–7%. Currency stability is another structural advantage: the UAE dirham’s peg to the US dollar reduces exchange-rate volatility for dollar-based investors. Key risks remain construction delays on off-plan projects, variable service charges, and the need to verify developer reputation and contract terms. For those aligned to the right segment and with careful due diligence—covering DLD registration, transfer fees, service charges and mortgage terms—Dubai continues to offer a mix of capital-growth and income-generating opportunities in 2026. --- ## Global investors see Oman as growth hub URL: https://startupsmena.com/global-investors-see-oman-as-growth-hub-mqcc34s6 Date: 2026-06-13 Category: funding Tags: oman, renewable-energy, tourism, investment, certares, orion-solar **Summary:** Global investors, supported by Future Fund Oman, are committing to large projects in renewables, battery materials, tourism and logistics—citing Oman's stability, infrastructure upgrades and Vision 2040 alignment. Major commitments include a large solar manufacturing hub in Sohar and expanded battery materials investment plans. International investors are increasingly viewing Oman as a strategic hub for growth in renewable energy, advanced manufacturing, tourism and innovation, industry executives said during a Future Fund Oman (FFO) investment showcase panel in Muscat. Panellists including Rashid al Hashmi , Senior Manager of Investments at the Future Fund Oman, Stefano Sardo , Managing Director of Certares , Mark Jiang Pengjing , Deputy General Manager of Orion Solar , Dr Bir Kapoor , CEO and Deputy Managing Director of Gujarat Fluorochemicals Limited (GFL), and Jalal al Hadhrami , General Manager of Terminal 11 , outlined the reasons behind major recent investment decisions and expansion plans in the Sultanate. “The Fund is not merely participating in projects. It is creating industrial ecosystems and attracting long-term partners who share Oman’s vision for sustainable economic growth,” Rashid al Hashmi said, describing the FFO’s evolving role as both capital provider and strategic catalyst. Investment rationale and major projects Speakers highlighted a convergence of factors that drew their firms to Oman: political stability, a business-friendly environment, significant infrastructure upgrades and alignment with the country’s Vision 2040 agenda. Several panellists pointed to concrete projects that illustrate the scale of commitment. Orion Solar has committed to build what it described as one of the largest solar manufacturing facilities in the region at Sohar Freezone. Mark Jiang Pengjing said the project will include a six-gigawatt solar-cell manufacturing facility and a planned three-gigawatt solar-module plant using advanced automated production technologies. “The project is expected to create more than 1,000 jobs and generate substantial local procurement opportunities while contributing to Oman’s renewable energy ambitions,” he said, adding the company will recruit and train Omani graduates to support knowledge transfer and workforce localisation. Gujarat Fluorochemicals Limited expanded its initial plans after engagement with the FFO, according to Dr Bir Kapoor, citing Oman’s ambition to develop a complete clean-energy value chain. GFL specialises in advanced battery materials for electric vehicles and energy storage systems. “When we first came to Oman, our plans were much smaller. After engaging with FFO and understanding its vision for developing an integrated industrial ecosystem, we significantly expanded our investment plans,” Kapoor said. Certares, a global tourism-focused investment firm, identified Oman as a standout tourism opportunity. Stefano Sardo pointed to the country’s natural attractions and infrastructure investments in airports and roads as a foundation. “What makes Oman truly different is its ability to preserve its culture, traditions and values while remaining open to the world,” Sardo said. “Visitors do not simply come to visit Oman; they come to discover it.” Panel participation also included Jalal al Hadhrami of Terminal 11, reflecting investor interest in logistics and transport infrastructure as enablers of broader industrial growth. Outlook Panellists expect FFO-backed investments to mobilise substantial private-sector and foreign capital, generate thousands of jobs and establish new value chains across renewables, battery materials, tourism and innovation. The combined message from global investors was that Oman’s infrastructure readiness, strategic geographic position and the Fund’s catalytic role have positioned the Sultanate to attract long-term, strategic partners and accelerate industrial diversification in the years ahead. --- ## Zain highlights digital readiness as key to Kuwait’s capital market future URL: https://startupsmena.com/zain-highlights-digital-readiness-as-key-to-kuwaits-capital-market-future-mqc7z50q Date: 2026-06-13 Category: tech Tags: kuwait, fintech, ai, digital-transformation, zain **Summary:** Zain highlighted digital readiness as central to Kuwait’s capital market future, outlining its shift from a traditional telecom to a regional TechCo and promoting cloud, AI, fintech, IoT and smart-infrastructure solutions. The discussion, held with KDIPA and partners, emphasized public-private collaboration and fintech as a growth area. Zain underscored the centrality of digital readiness to the future of Kuwait’s capital market during a high-level roundtable held in collaboration with the Kuwait Direct Investment Promotion Authority (KDIPA) and international partners. The session, titled Thought Leadership Circle: Unlocking Kuwait’s Market Potential, brought together Abdulaziz Al-Marzouq , Minister of State for Economic Affairs and Investment, senior government officials, business leaders, financial institutions, regulators and private-sector stakeholders to discuss the reforms necessary to advance Kuwait Vision 2035 and broaden investor participation. "Kuwait’s telecom sector has evolved far beyond voice, data, and traditional connectivity. Today, it is becoming a wider digital ecosystem that supports individuals, households, enterprises, SMEs, government entities, smart districts, and emerging digital businesses," said Nawaf Al-Gharabally , CEO of Zain Kuwait , in remarks that framed the company’s strategic pivot. "For Zain, this evolution is closely aligned with our ‘4WARD-Progress with Purpose’ strategy, which is guiding our transformation from a telco into a regional TechCo." Al-Gharabally elaborated that while connectivity remains foundational, the principal opportunity now lies in leveraging that foundation to deliver cloud services, AI, cybersecurity, IoT, fintech offerings and smart-infrastructure solutions. "Connectivity will always remain the foundation of our business, but the real opportunity today is in building on that foundation to deliver digital solutions, cloud, AI, cybersecurity, IoT, fintech, smart infrastructure, and customer-centric experiences. Our role has long evolved from providing mere connectivity to enabling the digital foundations of Kuwait’s economic transformation." At the roundtable, Al-Gharabally cited concrete projects to illustrate Zain’s expanding footprint in non-traditional telecom segments. He pointed to Zain’s partnership with United Real Estate Company to provide digital infrastructure for Hessah District, describing it as "one of Kuwait’s most ambitious urban developments" and a demonstration of the telecom market’s move into smart districts, real estate technology, connected workplaces and digitally enabled community experiences. The conversation also highlighted fintech as a strategic growth area. "We also see fintech as one of the key growth areas in the evolution of the telecom sector. Through initiatives such as Zain Insure , we are helping introduce simpler, faster, more inclusive, and more customer-centric financial experiences," Al-Gharabally said, arguing that telecom-led digital financial services can create a new layer of national capability when supported by robust infrastructure and a balanced regulatory framework. Key themes discussed Capital-market development and broadening investor participation Digital financial services and fintech integration Public-private partnerships for major development projects Collaboration between government entities, national private-sector companies and global technology partners Panelists, including Minister Abdulaziz Al-Marzouq, explored how increased digital maturity and technology adoption could influence investor decision-making. Al-Gharabally projected that over the "next three to five years, Kuwait’s capital market has the opportunity to become more diversified, more technology-driven, and more connected to the transformation taking place across the wider economy." He stressed AI’s role as a major enabler across sectors from fintech and insurance to healthcare, education and large-scale government projects. Concluding his remarks, Al-Gharabally highlighted the opportunity to localize advanced digital capabilities by integrating national private-sector companies as strategic partners in development projects. "As Kuwait attracts leading global technology companies and advanced digital capabilities, there is a valuable opportunity to further integrate national private-sector companies as strategic partners in major development projects. This will help localize expertise, strengthen execution, and build sustainable national capabilities that create long-term value for Kuwait." --- ## Kuwait joins AI infrastructure race with $10B venture URL: https://startupsmena.com/kuwait-joins-ai-infrastructure-race-with-10b-venture-mqc7whdq Date: 2026-06-13 Category: funding Tags: kuwait, ai, funding, nvidia, kkr **Summary:** Kuwait’s sovereign wealth fund is joining KKR, Nvidia and Vistra to back a $10 billion AI infrastructure venture called Helix Digital Infrastructure. The firm, led by former AWS chief Adam Selipsky, will build and finance data centers, power plants, transmission networks and fiber for hyperscalers. Kuwait’s sovereign wealth fund is joining a $10 billion artificial intelligence infrastructure venture alongside KKR, Nvidia, and power company Vistra, the partners announced June 11, 2026. The new company, Helix Digital Infrastructure , will be led by former Amazon Web Services chief Adam Selipsky and is designed to build and finance data centers, power generation plants, transmission networks and fiber links for hyperscalers. "Helix Digital Infrastructure aims to build and finance the data centers, power generation plants, transmission networks, and fiber links needed by hyperscalers," the announcement said. The deal signals a major push by Gulf capital into the global AI supply chain. Helix will combine private equity and technology backing from KKR and Nvidia with energy and operations expertise from Vistra, and strategic funding from Kuwait’s sovereign wealth fund. Adam Selipsky, who previously ran Amazon’s cloud business, has been named chief executive to steer the firm’s deployment of capital and development of physical infrastructure supporting large-scale AI workloads. Partners, scope and strategy Lead investors and partners: Kuwait’s sovereign wealth fund, KKR, Nvidia, Vistra Target capital: $10 billion Company: Helix Digital Infrastructure Leadership: Adam Selipsky, CEO (former AWS chief) Primary assets: data centers, power generation, transmission networks, fiber links The venture focuses on the elements hyperscalers increasingly require: high-density compute locations located near reliable, low-cost power, dedicated transmission and fiber connectivity, and purpose-built facilities for AI hardware. Combining capital from a sovereign wealth fund with private-equity and industry technology partners aims to address both financing scale and technical coordination — from siting and permitting to power dispatch and network interconnection. Regional context underscores why Gulf investors have accelerated such investments. The announcement comes amid a wave of state-backed and private efforts in the Middle East targeting AI and cloud infrastructure. Saudi Arabia launched a project named HUMAIN last year intended to establish a national AI champion; Qatar has developed a national effort called Qai; and the United Arab Emirates has backed firms including G42 , MGX and Mubadala to expand AI and digital capabilities. Industry participants say the partnership model for Helix, pairing sovereign capital with established private-sector operators and a hardware leader, is intended to shorten delivery timelines for large projects while mitigating execution risk. KKR brings global infrastructure deal-making experience, Nvidia adds key relationships with AI hardware and software ecosystems, and Vistra contributes power-generation and operational know-how. Looking ahead, Helix faces several immediate priorities: securing sites with sufficient grid capacity, obtaining regulatory approvals, negotiating long-term power purchase agreements, and lining up fiber and transmission buildouts to match the rapid growth in demand for AI compute. If executed at scale, the $10 billion vehicle could provide a template for how Gulf capital supports the physical backbone of AI globally — from power plants to the fiber that links data centers — while offering hyperscalers another avenue to secure dedicated infrastructure tailored to next-generation workloads. --- ## Qatar, Ukraine seen as ‘powerful combination for global innovation’ URL: https://startupsmena.com/qatar-ukraine-seen-as-powerful-combination-for-global-innovation-mqc7tkxu Date: 2026-06-13 Category: edtech Tags: qatar, ukraine, edtech, funding, growthx-capital **Summary:** GrowthX Capital, a Qatari venture, signed an investment agreement to back GRO Solutions, a Ukraine-rooted edtech firm that has chosen Doha as its headquarters and launchpad for regional expansion; GrowthX announced a planned $500m investment over coming years. Qatar and Ukraine are forging a strategic partnership in technology and education after a signing ceremony in Doha formalised an investment by GrowthX Capital into GRO Solutions , a Ukraine-rooted company specialising in innovative educational solutions for children. The agreement, signed at Qatar Chamber headquarters, names GRO Solutions’ president Maria Shevchenko and GrowthX Capital chairman Hamad Mubarak al-Hajri as signatories and was attended by senior figures including Qatar Chamber board member Mohamed bin Ahmed al-Obaidli and Ukraine’s ambassador Andrii Kuzmenko . “Qatar would like to become a global hub for innovation. Ukraine is recognised as a nation of innovation. The two countries’ intent to lead in innovation is a powerful combination for a partnership that can create significant value for the whole world,” said Dr Olga Revina , co-founder and chairperson of the Qatar-Ukraine Business Forum (QUBF), framing the deal as more than a bilateral business milestone. Details of the agreement and participants The ceremony was hosted by Qatar Chamber and attended by Qatar Chamber acting director general Ali Bu Sherbak al-Mansouri and Qatar Financial Centre CEO Mansour al-Khater , alongside Revina and the signatories. Revina said GRO Solutions has chosen Qatar as its headquarters and a launchpad for regional expansion. Parties: GrowthX Capital (Qatari venture) and GRO Solutions (Ukrainian-rooted education technology firm) Signatories: Hamad Mubarak al-Hajri (chairman, GrowthX Capital) and Maria Shevchenko (president, GRO Solutions) Notable attendees: Mohamed bin Ahmed al-Obaidli; Ali Bu Sherbak al-Mansouri; Mansour al-Khater; Andrii Kuzmenko (ambassador of Ukraine to Qatar) Hamad Mubarak al-Hajri said GRO’s decision to set up its headquarters in Doha “reflects growing international confidence in Qatar’s investment ecosystem, supported by advanced infrastructure and a strong support network.” He announced that GrowthX Capital has planned a $500mn investment over the coming years, a commitment he described as intended to “further cement Qatar’s status as a global technology hub” and support the nation’s economic diversification under Qatar National Vision 2030. Context and strategic rationale Revina outlined five defining traits that she believes position Ukraine as a global innovator: established talent hubs across multiple regions, one of the world’s most advanced digital government platforms, rapid commercial adaptation of technologies including drones and AI for defence, a growing startup community across fintech, AI, cybersecurity, health tech and e-commerce, and creative solutions in logistics, energy, communications and public services. She praised Ukrainian teams for developing “innovative battlefield software and electronic warfare solutions ‘at a speed that surprised the industry.’” Qatar Chamber board member Mohamed bin Ahmed al-Obaidli framed the partnership as evidence of the private sector’s strength, and noted the chamber’s creation of a Technology and Innovation Committee aimed at making the private sector more innovation-driven, accelerating enterprise technology adoption, and institutionalising data-driven and AI-enabled operations. Outlook Organisers say the tie-up will act as a model for combining strategic capital with global talent and is expected to support GRO Solutions’ regional expansion from its new Doha base. Revina said QUBF will continue to build institutional bridges between Qatar and Ukraine, including hosting Ukrainian startups annually in Qatar for the Web Summit and operating the Qatar-Ukraine Tech and Innovation Committee to channel strategic investments and support high-impact startups. --- ## GFH Bank backs student founder pipeline as featured partner of StartUp Bahrain University of Bahrain URL: https://startupsmena.com/gfh-bank-backs-student-founder-pipeline-as-featured-partner-of-startup-bahrain-university-of-bahrain-mqc3t6fr Date: 2026-06-13 Category: tech Tags: mena, startup **Summary:** Students joined workshops and hands-on ... startup building, pitching, finance, no-code tools, AI and product development. More than 44 mentors supported students throughout the program, including men GFH Bank has joined StartUp Bahrain University of Bahrain as a featured partner, backing the student founder pathway and contributing to the initiative’s student startup fund and awards pool. The pilot program, held from May 12–17, 2026 at the University of Bahrain, involved more than 1,000 students across disciplines who formed over 160 teams; 91 student-founded projects advanced to the semi-final stage and 10 finalist teams will pitch in June. As part of the awards pool, the GFH Award will provide BD 500 to a selected student startup team. "GFH is pleased to support a program that gives students practical exposure to entrepreneurship and early venture building. Bahrain’s future economy will depend on young people who can identify opportunities, work in teams and build solutions with discipline, and this initiative creates a meaningful platform for that," said Razi Almerbati, CEO of GFH Capital & Chief Investment Placement and Investor Relations Officer, GFH Bank. Program design and participation StartUp Bahrain University of Bahrain — powered by the Labour Fund Tamkeen and organized in collaboration with the University of Bahrain — delivered an intensive, hands-on experience that moved students from idea development through to early project prototypes. The week-long program included mentorship rounds, workshops and eliminations leading into the semi-final and eventual finale in June. Students took part in workshops and practical sessions on idea generation, startup building, pitching, finance, no-code tools, AI and product development. The program also trialled a dedicated participant system to manage high-volume student startup programming, including attendance tracking, team progression, notifications, team records and certificate generation across the cohort. Mentorship, speakers and partners Keynote speakers included Ali Mohsen, Chief Executive Officer of DOO, and Ali Alalawi, Chief Executive of Unipal; the program was hosted by instructor and radio host Imran Al Aradi. More than 44 mentors supported teams, drawn from DOO, Tamkeen, General Assembly Bahrain, Reboot Coding Institute, the University of Bahrain, Bahrain FinTech Bay, Al Salam Bank, AstroLabs, Amazon Web Services and other ecosystem organisations. Sponsors and contributors to the awards pool included Tamkeen, GFH, Kuwait Finance House Bahrain (KFH Bahrain), DOO, General Assembly Bahrain, Reboot Coding Institute, American Express Middle East and Bahrain Development Bank. "GFH’s support strengthens the bridge between student ambition and the private sector. When major institutions back student founders early, it gives teams more confidence, more credibility and a clearer reason to continue building beyond the program," said Maram Murad, Event Lead for StartUp Bahrain. Outlook The collaboration between GFH Bank, Tamkeen and the University of Bahrain aims to institutionalise private-sector engagement in early-stage student ventures and to accelerate the transition from campus projects to market-ready startups. With BD 500 earmarked for the GFH Award and a multi-stakeholder awards pool, the June finale will be a test of which teams can translate pilot-stage prototypes into ventures attractive to private investors and ecosystem partners. Organisers say the initiative will continue refining operational tools — such as the participant management system — to scale student startup programming across the university and wider national ecosystem. --- ## Nasdaq-Listed AXG Secures Bahrain’s First Stablecoin Issuer License to Target $250 Trillion Global Cross-Border Payments Market via On-Chain Channels URL: https://startupsmena.com/nasdaq-listed-axg-secures-bahrains-first-stablecoin-issuer-license-to-target-250-trillion-global-cro-mqc3yag4 Date: 2026-06-13 Category: fintech Tags: bahrain, fintech, stablecoin, axg, islamic-finance **Summary:** Nasdaq-listed AXG received Bahrain’s first stablecoin issuer license on June 1, 2026, positioning its AX Coin under direct central-bank supervision with Sharia-compliant profit-sharing to target cross-border payments and Islamic finance capital. Nasdaq-listed AXG said on June 1, 2026 it has been granted the Kingdom of Bahrain’s first stablecoin issuer license by the Central Bank of Bahrain, positioning the company to target the estimated $250 trillion global cross-border payments market via on-chain channels. The license — issued under the Central Bank’s Stablecoin Issuance and Offering Module published in July 2025 — ties AXG’s issuance to direct central-bank supervision, a profit-sharing mechanism, and Sharia compliance, a combination AXG and Bahraini authorities argue is unique among major stablecoins. "AX Coin has obtained three passes at once: direct central bank supervision, profit-sharing capability, and religious legitimacy," AXG executives have said, framing the license as a structural differentiator from mainstream U.S. and European stablecoins. Regulatory design and institutional context The Central Bank of Bahrain’s rules require stablecoin issuers to obtain official authorization and to peg tokens 1:1 to approved fiat currencies such as the U.S. dollar or Bahraini dinar, with reserves held in "highly liquid, low-risk, and high-quality reserve assets." Unlike the fragmented U.S. state-and federal licensing environment and the still-maturing MiCA regime in Europe, Bahrain’s framework places AX Coin directly under sovereign central bank supervision, aiming to provide onshore compliance and regulatory certainty from the outset. The Bahraini framework also explicitly allows a compliant model for yield-generating stablecoins by permitting distribution of returns generated from reserve assets — legally defined within Islamic finance as "profit sharing" rather than prohibited interest. That distinction is central to AXG’s pitch to Islamic financial institutions: global Islamic finance assets exceed $5 trillion, yet penetration into digital assets has been minimal. AXG’s senior team has been active in high-level discussions in Bahrain. In January 2026, Dr. Thomas Zhu , co-founder of AXG and chairman of AX Coin, together with Xavier George , CEO of AX Coin, and James Xia , COO of AX Coin, met with senior Bahraini officials including H.E. Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy; H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Economic Development Board; H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain; and Maryam Adnan Abdullah Al Ansari, Undersecretary for National Economy Affairs. AXG has moved to integrate with local payments infrastructure. On May 6, 2026 the company announced a strategic partnership with BENEFIT , Bahrain’s national electronic financial transaction company, which reports 1.3 million registered users, links to more than 30 major regional banks and processed 494 million online transactions in 2025. AXG argues this connectivity will help channel dollar liquidity on-chain for Gulf-region businesses and institutions that face banking interruptions and SWIFT delays. License granted: June 1, 2026 Regulatory module: Stablecoin Issuance and Offering Module (July 2025) BENEFIT: 1.3 million users; >30 banks connected; 494 million online transactions in 2025 Market opportunity cited: >$250 trillion global cross-border payments; >$5 trillion Islamic finance assets Comparable market valuation noted: Tether recently cited at $375 billion Outlook: AXG’s path leverages sovereign supervision plus Sharia-certified profit sharing to court Islamic financial capital and regional payment rails. If execution matches regulatory access and BENEFIT integration, AXG aims to offer an on-chain U.S. dollar alternative for Gulf SMEs and institutional actors. However, the company will still face the challenge of building global liquidity and acceptance against entrenched stablecoins that dominate trading and custody networks. --- ## Bahrain’s investment diversification and digital market infrastructure provide roadmap for international investors: HSBC URL: https://startupsmena.com/bahrains-investment-diversification-and-digital-market-infrastructure-provide-roadmap-for-internatio-mqc3vqqy Date: 2026-06-13 Category: other Tags: bahrain, banking, fintech, capital-markets, hsbc, bahrain-bourse, digital-infrastructure **Summary:** HSBC highlighted Bahrain’s market reforms and "Elevate" strategy at its GCC Exchanges Conference in London, positioning the kingdom’s upgraded market infrastructure and regulatory stability as a roadmap to attract international capital. Senior executives from HSBC and Bahrain Bourse outlined plans to deepen liquidity, expand IPOs and enhance digital market infrastructure. Bahrain’s push to diversify investment opportunities and to modernise market infrastructure was presented as a clear blueprint for international investors at the HSBC GCC Exchanges Conference in London, which convened more than 300 institutional investors, over 100 Middle East corporates and all seven GCC stock exchanges in excess of 3,000 meetings — the largest gathering in the event’s five‑year history. “While investors continue to navigate an increasingly complex geopolitical and market environment, Bahrain’s sophisticated financial ecosystem, strong regulatory framework and commitment to capital market development provide a long‑term roadmap,” said Joseph Ghorayeb , Chief Executive Officer and Head of Banking, Bahrain, HSBC Bank Middle East Limited . Conference focus and Bahraini strategy Opened by Georges Elhedery , Group CEO of HSBC Group plc, the conference centred on resilience, agility and the sectoral and asset diversification opportunities available to those seeking long‑term exposure to the Gulf Cooperation Council (GCC). Bahrain Bourse CEO Shaikh Khalifa bin Ebrahim Al Khalifa participated in the programme and used the platform to outline the kingdom’s appeal to global investors. Ghorayeb highlighted Bahrain Bourse’s “Elevate” strategy as a core element in the kingdom’s push to boost liquidity and broaden the investor base. He pointed to priorities within the strategy such as expanding the initial public offering (IPO) pipeline, introducing new investment products and enhancing digital market infrastructure — measures designed to deepen engagement with international capital. Shaikh Khalifa bin Ebrahim Al Khalifa told attendees: “The HSBC GCC Exchanges Conference provides an important platform to engage directly with leading international investors and showcase the evolving strengths of Bahrain’s capital market. As global investors increasingly seek transparent and growth‑oriented markets, Bahrain offers a compelling investment proposition supported by a robust regulatory framework, a diversified economy, and a strong development pipeline.” Connectivity, custody and regional footprint HSBC underlined its long‑standing role in Bahrain’s financial ecosystem, noting more than 80 years of presence in the kingdom and its status as the largest custodian bank in Bahrain. The bank said its deep connectivity to local market infrastructure positions it to help connect Bahraini issuers and investors with international capital markets. HSBC’s reach across the MENAT region spans nine countries: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the UAE. As of 31 December 2025, HSBC reported assets of USD83 billion across the MENAT footprint. In Saudi Arabia, HSBC holds a 31% stake in Saudi Awwal Bank and a 51% shareholding in HSBC Saudi Arabia for investment banking. Outlook Conference conversations emphasised how businesses and policymakers are rapidly adapting supply chains, funding structures and market access with a particular focus on technology and digital infrastructure. Bahrain’s “Elevate” plan — with its emphasis on IPO expansion, new product listings and digital market upgrades — was framed by HSBC executives as a concrete roadmap to attract long‑term foreign capital and to increase market participation. For international investors seeking clearer entry points into the GCC, the message from London was that Bahrain’s blend of regulatory stability, planned market reforms and existing custodial capacity offers tangible pathways for deeper exposure to the region’s capital markets. --- ## Morocco Is Heading to Silicon Valley… And One Startup Will Represent an Entire Nation URL: https://startupsmena.com/morocco-is-heading-to-silicon-valley-and-one-startup-will-represent-an-entire-nation-mqc3n9p8 Date: 2026-06-13 Category: fintech Tags: morocco, casablanca, fintech, logistics, funding, ora-technologies **Summary:** ORA Technologies, a Casablanca-based startup that integrates e-commerce delivery, food delivery and digital payments, won Startup World Cup Morocco 2026 and will represent Morocco at the global final in San Francisco with potential to secure up to $1M. ORA Technologies has won Startup World Cup Morocco 2026 and will represent Morocco at the global final in San Francisco this November, where the winning startup can secure up to a $1 million investment. The Casablanca-based company, which has already raised $15 million from Moroccan investors, employs around 300 people and works with more than 1,300 delivery partners across the Kingdom. "Bring millions of Moroccans into the digital economy," ORA Technologies says, encapsulating the startup’s stated ambition to expand digital services across Morocco through a suite of products and platforms. Context: a scaled startup stepping onto a global stage ORA Technologies was chosen as Morocco’s representative among national entrants to the Startup World Cup, a competition that brings together startups from more than 65 countries and puts them in front of hundreds of international investors. The company has built an ecosystem combining e-commerce delivery, food delivery, digital payments and financial inclusion under product names including Cathedis, Kooul, ORA Cash and Babaa. The firm’s current scale — $15 million in funding, roughly 300 employees, and partnerships with over 1,300 delivery workers — underlines a shift in Morocco’s tech landscape from nascent ecosystem to scaling market player. ORA’s business model targets multiple segments of the consumer economy, seeking synergies between logistics, payments and local commerce to capture transaction flows and deliver digital services at scale. Funding: $15 million raised from Moroccan investors Employees: around 300 staff Delivery partners: more than 1,300 across Morocco Product suite: Cathedis, Kooul, ORA Cash, Babaa Details: why this win matters Winning the national final grants ORA access to the Startup World Cup’s global investor network and the publicity that comes with pitching in Silicon Valley. The event is widely regarded as one of the more prestigious entrepreneurship competitions, and the global final routinely attracts substantial investor attention and deal flow. For ORA, the event represents both capital upside and an opportunity to benchmark its model against international peers. The startup positions itself at the intersection of fintech, logistics and digital services — sectors that are central to digital inclusion and consumer adoption in Morocco. By integrating e-commerce and food delivery with digital payments and inclusion-oriented products, ORA is pursuing a vertically integrated approach intended to lower friction for users and monetize multiple touchpoints within the consumer journey. Outlook: ambitions and broader implications ORA’s victory raises a broader question for the region: can Morocco produce a homegrown tech unicorn? Observers point to fintech, AI, logistics or yet-to-emerge ideas as possible sources of large-scale startups. ORA’s roadmap will likely focus on deepening market penetration, expanding product adoption for Cathedis, Kooul, ORA Cash and Babaa, and leveraging any momentum from a strong showing in San Francisco to attract follow-on funding or strategic partnerships. As ORA prepares to pitch in Silicon Valley this November, its progress will be watched not only for potential investment outcomes but also as a test case for Morocco’s capacity to scale startups onto the global stage. "Tomorrow’s global champions may not come from Silicon Valley alone. They could come from Casablanca," the narrative now suggests — and ORA will carry that expectation with it to San Francisco. --- ## Best Mobile App Development Companies in Morocco for Startups and Enterprises (2026 Guide) URL: https://startupsmena.com/best-mobile-app-development-companies-in-morocco-for-startups-and-enterprises-2026-guide-mqc3qfm3 Date: 2026-06-13 Category: tech Tags: morocco, mobile-apps, ui-ux, fintech, digital-transformation, apptunix **Summary:** A 2026 market snapshot ranks nine Moroccan mobile app development firms — led by Apptunix and including FlexiApps, Digital Nova and Mobiblanc — that serve startups through enterprise clients with services from MVPs and UX design to enterprise architectures and fintech integrations. The mobile app development landscape in Morocco is becoming increasingly competitive, with a range of homegrown agencies positioning themselves to serve startups, SMEs and large enterprises. A 2026 market snapshot identifies nine firms — led by Apptunix and supported by local players such as FlexiApps , Digital Nova and Mobiblanc — that together cover services from startup MVPs to enterprise-grade digital transformation, UI/UX design, cloud architectures and fintech integrations. "The mobile app development landscape in Morocco is becoming increasingly competitive, with agencies offering a wide range of services from startup MVP development to enterprise-grade digital transformation." Context and company profiles Fatima Shiekh , listed as Developer at Apptunix, is the named author of the industry guide that highlights how selection criteria for Moroccan mobile vendors now extend beyond development capacity to include product strategy, scalability, and long-term maintenance. The guide positions Apptunix as the market leader, crediting the company with an end-to-end approach that spans strategy, UI/UX design, development, testing, deployment and ongoing maintenance. Apptunix’s strengths are listed as custom Android and iOS development, cross-platform apps using Flutter and React Native, enterprise-grade architectures and experience across fintech, logistics, healthcare and eCommerce. Apptunix — Cited as the best overall mobile app company, notable for full lifecycle delivery and handling both startup MVPs and complex enterprise systems. FlexiApps — Described as a reliable Morocco-based partner for startups and mid-sized businesses, known for client-focused delivery, strong UI/UX and agile processes suited to moderate budgets. Digital Nova — A UX-focused studio emphasizing design, prototyping and cross-platform application solutions for businesses prioritizing customer experience. Mobiblanc — Identified as an enterprise mobility specialist working closely with large organizations and financial institutions on digital banking, fintech and compliance-focused solutions. XHub Digital — A full-service agency offering cross-platform mobile development, e-commerce and digital transformation consulting to modernize digital presence. TNC Group — A custom software and app developer providing industry-specific application design, technical consulting and business-focused solutions. Logigroup — Focused on enterprise software, cloud and system integration, business automation tools and scalable architectures to modernize internal workflows. Ingenia Technologies — A software engineering partner delivering custom mobile and cloud-based solutions with an emphasis on long-term reliability and technical support. The guide stresses that businesses selecting a Moroccan development partner should weigh technical expertise, scalability, UI/UX quality, industry experience and post-launch support. Local firms such as FlexiApps, Mobiblanc and Digital Nova are noted for strong regional expertise and hands-on client engagement, while firms like Apptunix are highlighted for global delivery standards and the ability to scale products from concept to enterprise. Outlook As Moroccan startups and enterprises continue to digitize customer-facing products and internal operations, the market is likely to further stratify between design-led boutiques, SME-focused delivery shops and enterprise systems integrators. Providers that combine product strategy, secure cloud architecture and robust post-launch maintenance stand to capture larger, long-term contracts. For businesses evaluating partners in 2026, the practical choice will hinge on whether the project demands rapid MVP validation, a polished UX-driven consumer app, or an enterprise-grade, compliance-aware platform. --- ## Morocco tops the list of African countries for business climate URL: https://startupsmena.com/morocco-tops-the-list-of-african-countries-for-business-climate-mqc3i6px Date: 2026-06-13 Category: other Tags: morocco, investment, infrastructure, policy-reform, amd ie, trade **Summary:** CIAN's Business Climate Barometer ranks Morocco top in Africa for business climate, highlighting strengths in infrastructure, industry sectors and recent investment-friendly reforms while flagging administrative and regulatory bottlenecks. For the first time Morocco has topped the list of African countries for business climate, scoring 3.9 out of 5 in the annual Business Climate Barometer compiled by the French Council of Investors in Africa (CIAN). Morocco finished ahead of Mauritius (3.4), Uganda (3.3) and joint fourth-place Algeria and South Africa (3.2 each). The ranking reflects a survey of hundreds of local and foreign executives across the continent and measures 39 standard criteria including infrastructure quality, tax efficiency, legal framework and human resources. "Morocco is making progress on economic indicators, leading the African scene in terms of business climate thanks to the opportunities it offers investors, underpinned by political stability, strategic location, infrastructure development and ongoing economic reforms," the report states. The result crowns more than two decades of steady reforms and targeted economic development. Key ministers and agency leaders — Karim Zidane , Minister Delegate to the Head of Government for Investment, Convergence and Public Policy Evaluation; Ryad Mezzour , Minister of Industry and Trade; and Ali Seddiki , Director General of the Moroccan Agency for Investment and Export Development (AMDIE) — have been prominent in representing that agenda at international forums such as the Paris Air Show and the Morocco Now event in Brussels. CIAN's data show concrete business outcomes: in 2025, 48% of companies surveyed reported making a profit, 32% broke even and only 20% were in deficit. The barometer places Morocco in the highest ratings band (between 4 and 5), and eight out of ten companies had a loss-free year despite the international headwinds of inflation, rising interest rates and regional geopolitical tensions. By 2026, executive sentiment improves further, with 56% anticipating profits, 34% expecting to break even and only 10% forecasting losses. Strategic assets: Ports such as Tangier Med, Nador West Med and Dakhla Atlantic and a motorway network that connects cities and industrial centres. Sector strengths: Automotive, aeronautics, renewable energy and agri-food are singled out for strong performance; eight of the nine largest companies in North Africa and eleven of the twenty largest African companies are Moroccan. Policy measures: A new Investment Charter offering tax incentives, financial support and repatriation facilities for capital and profits, and steps to digitise administrative and tax procedures. Infrastructure highlights: Al Boraq, Africa’s first high-speed train, and expanding renewable energy projects including solar plants such as Ouarzazate. However, the barometer also flags operational obstacles that Morocco must address to maintain and deepen its lead. Respondents point to customs procedures, regulatory barriers and administrative complexity as limiting operational efficiency and flexibility. Water stress is identified as a growing constraint on certain sectors. Rising competition from Kenya, Egypt and South Africa — alongside ongoing reforms in Uganda and Mauritius — adds pressure to retain investor appeal. CIAN emphasises the need to improve regulatory efficiency, transparency and digital readiness to tackle these issues. The report also highlights future economic opportunities linked to sustainable aviation fuels and green hydrogen: legislative requirements for increasing sustainable fuel use in aviation could position Morocco as a supplier of clean energy to European markets. Outlook for Morocco is cautiously positive. The country’s combination of political stability, strategic location, expanding logistics capacity and sectoral strengths has translated into measurable profitability for companies operating there. Maintaining the top ranking will depend on continuing reforms to simplify administration, strengthen water resilience and deepen regulatory frameworks for high-tech and defence partnerships — areas the barometer identifies as essential to convert Morocco’s current momentum into sustained competitiveness. --- ## Proparco Backs EmergingTech Ventures Fund II to Scale Startup Investment in Francophone Africa URL: https://startupsmena.com/proparco-backs-emergingtech-ventures-fund-ii-to-scale-startup-investment-in-francophone-africa-mqc3ktvq Date: 2026-06-13 Category: funding Tags: morocco, francophone-africa, funding, venture-capital, emtech-capital, fintech, deeptech, healthtech **Summary:** Proparco (via FISEA) has become a cornerstone investor in EmergingTech Ventures Fund II, a Morocco-based early-stage VC managed by EmTech Capital targeting USD 60M–80M to back pre-Series A and Series A tech startups across Morocco, Tunisia, Senegal and Côte d’Ivoire. Proparco, through FISEA (an AFD Group fund managed by Proparco), has become a cornerstone investor in EmergingTech Ventures Fund II , a Morocco-based early-stage venture capital vehicle targeting technology startups in Morocco, Tunisia, Senegal and Côte d’Ivoire. The fund, managed by EmTech Capital , is targeting a size of USD 60 million with the potential to expand to USD 80 million, and will prioritise pre-Series A and Series A investments across DeepTech, FinTech, Digital Services, HealthTech, EdTech, AgriTech and CleanTech. “We are delighted to support EmTech in launching its second fund, led by an experienced and committed local team. This partnership reflects our ambition to support the next generation of digital entrepreneurs in Francophone Africa, particularly in Morocco, a highly dynamic market, and to contribute to the development of a vibrant and inclusive technology ecosystem, in line with the many public initiatives launched by Morocco,” said Fabrice Perez , Head of Financial Institutions and Innovation Division, Proparco. The second fund aims to build on EmTech’s initial vehicle, which raised USD 22 million and was primarily deployed in Morocco. EmTech Capital — an independent Moroccan fund management company founded by Meriem Zairi , Abdelouahid Benlamlih and Sidi Mohammed Zakraoui — is positioning Fund II to expand geographic reach beyond Morocco and deepen support for startups that demonstrate strong economic, social and environmental impact potential. “This partnership with Proparco and FISEA represents a major milestone for EmTech and for the Moroccan and African technology ecosystem as a whole. The support of a leading development finance institution validates our investment thesis and strengthens our ability to back the most ambitious entrepreneurs in Francophone Africa. We are proud to build this new chapter alongside partners who share our conviction that Africa is home to a new generation of talented entrepreneurs capable of creating high-impact companies with global reach,” said Meriem Zairi Tlemçani , Chief Executive Officer, EmergingTech Ventures. Fund focus and expected impact Geographic scope: Morocco, Tunisia, Senegal, Côte d’Ivoire. Target fund size: USD 60 million, with potential to increase to USD 80 million. Investment stage: Primarily pre-Series A and Series A rounds. Priority sectors: DeepTech, FinTech, Digital Services, HealthTech, EdTech, AgriTech, CleanTech. Founding team: Meriem Zairi, Abdelouahid Benlamlih, Sidi Mohammed Zakraoui (EmTech Capital). Proparco’s commitment via FISEA is framed as part of a strategy to strengthen local investment capabilities and address a persistent financing gap for African startups at seed and Series A stages. Backing Fund II is expected to improve access to early growth capital for technology companies in the covered markets and to help demonstrate the commercial viability of venture capital in the region — a step intended to attract further institutional investors. Outlook If EmTech Capital reaches its USD 60–80 million target and successfully deploys capital across its priority markets, the fund could deepen venture activity in Francophone Africa and create follow-on opportunities for both entrepreneurs and investors. The managers and investors highlight an ambition to show that a locally led fund can both generate returns and deliver development impact by strengthening startups that have the potential to scale regionally and beyond. --- ## ZAWYA: 19-year-old Jordanian founder sells AI EdTech startup NoNerds to JoAcademy in $140,000 acquisition URL: https://startupsmena.com/zawya-19-year-old-jordanian-founder-sells-ai-edtech-startup-nonerds-to-joacademy-in-140000-acquisiti-mqbzdtkn Date: 2026-06-13 Category: edtech Tags: jordan, edtech, ai, acquisition, mohammad-alsufi, joacademy **Summary:** Nineteen-year-old Mohammad Alsufi sold his AI-native education platform NoNerds to JoAcademy for $140,000 and joined JoAcademy to lead its AI initiatives, while NoNerds' AI systems are being integrated into JoAcademy's learning ecosystem. AMMAN, Jordan — Nineteen-year-old AI founder and researcher Mohammad Alsufi has sold his AI-native education platform NoNerds to regional EdTech leader JoAcademy in a deal valued at $140,000 USD. The acquisition will see NoNerds’ AI infrastructure integrated into JoAcademy’s ecosystem as part of the company’s push to build personalized, AI-powered learning experiences across the MENA region. Alsufi has also joined JoAcademy to lead AI initiatives across the platform’s expanding regional infrastructure. “AI is becoming a new cognitive layer for humanity: infrastructure that reshapes how we think, learn, build, and make decisions,” said Mohammad Alsufi. “Education was one of the first environments where we applied that thesis with NoNerds. My broader vision is building systems that extend human intelligence itself - something I’ll continue exploring through the next generation of startups and AI research I’m building.” NoNerds developed an AI-native education marketplace that allows students and instructors to create and monetize courses while the platform’s AI learns directly from uploaded material. The system analyzes video lectures to generate flashcards, exam questions, study notes and personalized learning journeys, and it enables students to ask questions about specific lessons via text or voice and receive answers grounded in the actual course content. The startup had gained measurable traction among university students in Jordan and the broader Arab world prior to the acquisition. Company metrics cited in the transaction include: More than 120 courses listed on the platform 6,000 lectures hosted Approximately 12,000 students served 128,000 total watch hours JoAcademy is one of the Arab region’s largest EdTech platforms, serving more than 2.1 million students across Jordan, Iraq, Palestine and Saudi Arabia, where it operates under the ULA brand. The company fortified its balance sheet in early 2025 by closing a $28 million Series B round led by Rua Ventures and backed by a consortium of 16 Jordanian banks. The acquisition of NoNerds follows a broader strategy by JoAcademy to integrate generative AI capabilities into its product stack and extend personalized learning at scale. Mohammad Alsufi’s profile is notable both for his age and for the breadth of projects he has built. Born and raised in Amman, he began building online businesses at age 14, later incorporating a Dubai-based web development company at 16. Alsufi also founded Brainsless , an AI research lab that develops and deploys its own models, and co-founded Planless (planless.app), a Delaware-incorporated startup platform where founders run companies alongside an AI co-founder built on Brainsless’ architecture. Following the deal, JoAcademy said it will fold NoNerds’ AI systems into its learning ecosystem to enhance adaptive assessments, AI-powered study tools, real-time tutoring grounded in lecture content, and personalized learning journeys. For NoNerds’ user base — largely university students across Jordan — the integration promises closer alignment with a platform that already reaches millions of learners in the region. Outlook The acquisition highlights growing interest among regional EdTech operators to acquire specialized AI capabilities rather than build them in-house, particularly as platforms compete to offer adaptive, personalized learning experiences. With Alsufi onboard to lead AI efforts at JoAcademy and NoNerds’ product integrated into a platform serving millions, the deal could accelerate deployment of AI-native learning features across JoAcademy’s markets in Jordan, Iraq, Palestine and Saudi Arabia. --- ## Morocco proptech startup secures $5M funding round URL: https://startupsmena.com/morocco-proptech-startup-secures-5m-funding-round-mqbz9ebb Date: 2026-06-13 Category: funding Tags: morocco, proptech, ai, funding, agenz, breega, attijariwafa-ventures **Summary:** Casablanca-based proptech startup Agenz raised $5 million in a seed round led by Breega, Attijariwafa Ventures and Saviu Ventures to accelerate digital transformation of Morocco's real estate market through data-driven tools and AI. The company, founded in 2021, will use the funds to expand its platform, teams and technology. Casablanca-based property technology company Agenz has secured $5 million in a seed funding round led by Breega, Attijariwafa Ventures and Saviu Ventures to accelerate the digital transformation of Morocco’s real estate market. Founded in 2021 by brothers Malik and Badr Belkeziz , Agenz provides property valuation tools, market intelligence services, software for industry professionals and a digital transaction platform that has grown rapidly since its launch in 2023. Investor endorsement “The company has created a platform that brings together market data, professional tools and transaction services within a single ecosystem, helping modernize Morocco’s property sector,” said Breega partner Driss Ibenmansour , framing the investment as a bet on an integrated, data-driven approach to real estate. Company profile and recent traction Agenz positions itself as a response to a market long characterised by fragmented information and informal networks. The startup’s suite includes automated valuation models, market intelligence dashboards and a transaction platform designed to increase transparency and efficiency for buyers, sellers and industry professionals. Since launching its transaction service in 2023, the platform has seen substantial user engagement: Agenz reported more than 730,000 monthly visits to its website in May 2026, placing it among Morocco’s leading property portals. Founders: Malik and Badr Belkeziz Funding: $5 million seed round Lead investors: Breega, Attijariwafa Ventures, Saviu Ventures Launched: Company founded in 2021; transaction platform launched in 2023 Traffic milestone: 730,000 monthly visits in May 2026 Use of funds and strategic priorities Company officials said investor demand exceeded the capital the startup originally sought to raise, reflecting strong institutional interest in proptech in the region. The new funding will be deployed to strengthen technology investments, expand staffing and enhance platform services. Agenz has signalled a particular focus on advancing data analytics and artificial intelligence across its product stack, aiming to refine valuation models, deliver deeper market intelligence and automate workflows for industry users. The investment is also earmarked to support geographical expansion beyond Morocco. Agenz has not disclosed specific target markets or timelines for international growth, but the move signals an ambition to translate its domestic traction into a broader regional footprint. Outlook With backers that include a pan-European venture investor and major regional corporate venture arms, Agenz is positioned to push the digitisation of transactions and data services in North Africa’s property sector. The immediate priorities — scaling engineering and data teams, integrating more AI-driven features and growing the user base — are clear. How quickly Agenz converts website traffic into sustained transaction volumes and expands into new markets will determine whether the startup can become a dominant regional platform or remain a leading national player in Morocco’s evolving proptech landscape. --- ## EdVentures, Mastercard Foundation select 13 Egyptian startups for 3rd EdTech Fellowship URL: https://startupsmena.com/edventures-mastercard-foundation-select-13-egyptian-startups-for-3rd-edtech-fellowship-mqbjqwqs Date: 2026-06-12 Category: edtech Tags: egypt, edtech, ai, vr-ar, mastercard-foundation, dalia-ibrahim **Summary:** Thirteen Egyptian edtech startups were selected for the third Mastercard Foundation EdTech Fellowship run by EdVentures, expanding the programme to 36 startups and providing business, financial and learning-science support to ready companies for scale and impact. Thirteen Egyptian ed‑tech startups have been selected for the third cohort of the Mastercard Foundation EdTech Fellowship, run by EdVentures, the corporate venture arm of Nahdet Misr Group. The intake expands the programme’s portfolio to 36 startups supported across three cohorts and aims to provide business, financial and learning‑science support to prepare the companies for scale, sustainability and impact. "At EdVentures, we believe that transforming education requires more than innovative technologies; it requires strong partnerships that bring together shared expertise, resources, and a common vision for impact,” said Dalia Ibrahim , founder and CEO of EdVentures, at the fellowship’s kick‑off event. “The Mastercard Foundation EdTech Fellowship is a powerful example of how collaboration can accelerate innovation, expand opportunities for entrepreneurs, and reach more learners and communities across Africa." The fellowship is implemented in partnership with the Mastercard Foundation through its Centre for Innovative Teaching and Learning and works with innovation hubs and ed‑tech accelerators across Africa. Wariko Waita , director of the Mastercard Foundation Centre for Innovative Teaching and Learning, described the programme as operating "at the intersection of three powerful forces — education system transformation, inclusive technology‑enabled solutions, and the sustainability of Africa's EdTech entrepreneurship ecosystem." She added: “Through this fellowship, we are supporting innovators who are expanding access to learning, creating opportunities for young people, and helping shape the future of education across Egypt and Africa.” Cohort composition and focus areas Wisdom Education — advancing medical and dental education through specialised digital learning experiences. Hoopooh — an AI‑powered early childhood education platform. Business Development Institute (BDI) — delivers entrepreneurship, business development and professional upskilling programmes. Plan P — bridging the gap between healthcare education and real‑world clinical practice. MedsPark — providing specialised healthcare training and professional development opportunities. E‑TripleSoft Learn — offers practical ERP and enterprise technology education aligned with market needs. MOMKEN FOR HER — empowers women through learning, upskilling and employment opportunities. Edulga.ai — leveraging AI to deliver personalised lifelong learning pathways. SDS Egypt — creates education‑to‑employment pathways for persons with disabilities through accessible digital learning. GMind — transforming learning through immersive VR and AR educational experiences. Qualiphi — connects students, universities and employers through AI‑powered employability solutions. Empower Hub — helps underserved youth access mentorship, scholarships and global opportunities. Farid Academy — promotes social‑emotional learning, character development and wellbeing for children and youth. The selected startups reflect a broad set of interventions across the education pipeline: early childhood, healthcare and professional training, enterprise technology skills, inclusive learning for persons with disabilities, immersive learning via VR/AR, AI‑driven personalisation and employability solutions. Several startups explicitly target youth unemployment and workforce readiness by linking curricula to employer needs or creating direct pathways to jobs. Outlook With the portfolio now at 36 startups across three cohorts, EdVentures and the Mastercard Foundation aim to deepen the support available to Egyptian ed‑tech founders while strengthening links between technology, pedagogy and employability. The fellowship’s blended focus on business skills, financial resilience and the science of learning is intended to ready these companies for growth and greater impact in Egypt and beyond. As Dalia Ibrahim noted, the programme’s emphasis on partnership is central: sustaining momentum will depend on continued collaboration between investors, corporates, innovators and education stakeholders to scale solutions that improve learning and economic participation for youth. --- ## Startups in Egypt News URL: https://startupsmena.com/startups-in-egypt-news-mqbjucts Date: 2026-06-12 Category: fintech Tags: egypt, fintech, funding, edtech, nawy, thndr **Summary:** Egypt’s startup scene is shifting from headline funding to disciplined, customer-led execution with fintech dominating investor interest while cities like Cairo and Alexandria remain key hubs. Egypt’s startup scene in June 2026 remains a major node in MENA, but one that is shifting from headline-funded hype to disciplined execution. Government-linked figures show Egypt accounted for 33% of MENA’s registered startups and recorded $517 million in venture capital across 160 deals in 2022, while more recent data from Seedstars reported a sharp cooling with just $86 million raised in the first half of 2024 — a 75% year‑on‑year decline that has forced founders to prioritise customers, pricing and cash flow. "Egypt looks less like a hype story and more like a serious execution story," writes Violetta Bonenkamp , a founder with experience across deeptech, edtech and AI tooling, summarising the market’s shift toward sustainable company-building. Context and market detail The practical consequences of that funding pullback are visible across sectors and cities. Cairo remains the primary centre of maturity, capital and support, while Alexandria is increasingly recognised as a meaningful secondary node. Fintech continues to dominate investor attention, with product activity clustered around payments, lending, savings circles and consumer finance. Other active verticals include healthtech, edtech, e-commerce infrastructure, proptech and mobility. Notable startups drawing investor chatter include Nawy , Valu , Khazna , Sylndr , Thndr , Money Fellows , Rology , Octane and Sprints — names that signal where belief and follow-on capital are concentrated. Public support remains relevant through programmes and tech parks run by agencies such as ITIDA, which has highlighted Egypt’s ecosystem scale in past reports. Market discipline has become a defining feature: investors are "pickier", pushing teams to demonstrate unit economics, repeatable distribution and pricing that reflects local behaviour. Bonenkamp frames the change as positive for long-term company quality: "Markets that stop rewarding noise and start rewarding discipline often produce better companies." Her view is that Egypt’s combination of scale, talent and urgent unmet demand makes it a useful proving ground for founders who must learn cash discipline and customer-led product iteration quickly. Why this matters now For founders, freelancers and investors, the current environment pushes early validation over growth-for-growth’s-sake. Concrete pressures — regulation, payment infrastructure limits, talent retention and consumer purchasing power — require practical solutions rather than optimistic projections. The market’s stricter capital posture has exposed weaker companies but also favoured disciplined teams able to show revenue traction and local product-market fit. Practical gaps remain: deeper capital beyond the most visible sectors, stronger pre-seed to later-stage pathways, and broader founder support outside Cairo. Yet the ecosystem’s strengths — a large, young talent pool and clear use cases in finance, healthcare, education and commerce — mean that companies which survive the current phase could emerge more resilient and scalable regionally. Outlook The near-term outlook is one of selective funding and tougher metrics. Egypt will likely continue to produce startups that prioritise cash, trust and local behaviour over vanity metrics. Observers and investors seeking clearer signals of sustainable business models will find the market increasingly instructive: "Egypt is becoming a sharper test of whether founders can build companies that people truly need," Bonenkamp adds — a benchmarking role that could lead to stronger, more durable exits and regional champions over the next several years. --- ## AI-Powered Business Setup Dubai URL: https://startupsmena.com/ai-powered-business-setup-dubai-mqbb4par Date: 2026-06-12 Category: tech Tags: uae, dubai, ai, consultancy, free-zone **Summary:** Dubai-based Exactitude Business Services offers AI-assisted end-to-end company formation and corporate bank account facilitation, claiming free zone licenses can be issued within 48 hours. The firm provides licensing, compliance, visa and bank onboarding support for entrepreneurs setting up in Dubai free zones. Dubai-based consultancy Exactitude Business Services says entrepreneurs can now launch a company in Dubai in as little as two days in 2026 by combining advanced AI tools with local licensing expertise. The firm highlights end-to-end support including company formation in free zones such as IFZA, DTEC and DMCC, corporate bank account facilitation with banks like Emirates NBD, Mashreq and FAB, and full compliance services including corporate tax and substance requirements. "We approached Exactitude Business Services feeling overwhelmed by the options in Dubai. Within two days, our AI-assisted consultation led to a complete free zone setup in IFZA," said Mr. Ahmed K., a trading company founder. "The team managed every document, secured our license, and even helped open a corporate account at Mashreq." Exactitude positions AI as the central efficiency enabler for the 48-hour turnaround. The consultancy — based in Dubai Silicon Oasis and staffed by an FCCA-qualified team — uses intelligent systems for name reservations, document screening, compliance risk assessments and automated form-filling. The company claims these tools can automatically validate uploaded documents, run instant digital checks for trade name availability, and fast-track applications through integrated government portals. How the process works Initial consultation: AI-assisted analysis recommends a free zone or mainland setup based on the business vision. Activity and structure selection: AI matches business activities and legal structures such as LLC, FZE or branches to jurisdiction rules. Name reservation and document preparation: Instant availability checks and AI validation for completeness. Application submission and license issuance: Integrated portals and automation can yield licenses within 48 hours for straightforward cases. Post-setup support: Visa processing, office procurement, bank account opening, and ongoing compliance services. The company emphasizes the legal and commercial importance of licensing in the UAE: a valid business license enables corporate bank accounts, hiring, contracts, import/export operations and visa sponsorship. It also notes tax implications such as the UAE's corporate tax framework — including the cited 9% corporate tax on qualifying profits above thresholds — and highlights free zone advantages like 100% foreign ownership and profit repatriation. Clients quoted by the consultancy stress practical outcomes. "Launching our consulting firm seemed daunting, but Exactitude delivered beyond expectations. AI tools streamlined approvals, and their guidance on visas and compliance saved us weeks. In just 48 hours, we were operational," said Ms. Fatima R., who founded a professional services firm. Exactitude reports nearly 50 five-star reviews for its combination of technology and hands-on support. Outlook As AI-driven platforms become more embedded in administrative workflows, Exactitude and similar consultants expect faster, more predictable company formations in eligible free zones and streamlined bank onboarding. The model aims to reduce human error and administrative delays for straightforward mandates, while the consultancy retains a role for human specialists in complex multi-jurisdictional cases, specialized licenses and compliance oversight. For entrepreneurs targeting Dubai, the message is clear: with the right advisor and AI-enabled processes, a legally licensed entity and a corporate bank account can be in place within days rather than weeks. --- ## Exclusive: Saudi firm closes first fund since start of Iran war URL: https://startupsmena.com/exclusive-saudi-firm-closes-first-fund-since-start-of-iran-war-mqb8hnhl Date: 2026-06-12 Category: funding Tags: saudi-arabia, funding, venture-capital, turki-al-dayel, family-offices **Summary:** Growth Catalyst, a Saudi investment firm led by Turki Al-Dayel, closed an initial $96 million fund to back profitable, mid-to-late-stage companies in Saudi Arabia with plans to more than double the vehicle within six months. Saudi investment firm Growth Catalyst has closed a $96 million fund to back companies in the kingdom, becoming one of the first private sector investors to complete a fundraising round since the start of the Iran war. The firm said it plans to more than double the size of the fund over the next six months before reaching a final close, positioning the vehicle to scale follow-on and growth investments into profitable Saudi companies. "The conflict with Iran didn’t significantly impact the fundraising," Growth Catalyst founder and chief executive Turki Al-Dayel told reporters. He added that the situation has “reinforced what experienced investors already recognise: That Saudi Arabia has become an anchor of stability and economic momentum in the region.” The initial $96 million close is backed by the government-linked Saudi Venture Capital and a group of regional family offices, according to the firm. Growth Catalyst will deploy the capital into mid- to later-stage, revenue-generating businesses across several sectors, explicitly targeting companies that are already profitable and demonstrating scalable business models. Investment focus and strategy Target sectors: business services, consumer goods, healthcare, and technology. Stage: profitable companies at growth or expansion stages rather than early-stage startups. Geography: primary focus on Saudi Arabia, with an emphasis on domestic scale and market consolidation. Al-Dayel framed the fund’s strategy as a response to market opportunities created by the kingdom’s economic transformation and rising private-sector activity. By concentrating on profitable businesses, Growth Catalyst intends to reduce execution risk and accelerate value creation through operational support, strategic capital, and regional networks. The participation of Saudi Venture Capital signals public-sector alignment with private capital mobilization, while the involvement of family offices provides patient, regional capital that the fund expects to leverage for follow-on rounds and strategic partnerships. Market observers have noted that geopolitical tensions since the Iran war have complicated cross-border capital flows in the Middle East. Growth Catalyst’s ability to close such a vehicle, and to publicly signal plans to expand it, suggests at least some continuity of investor appetite for Saudi opportunities. The fund’s backers and strategy emphasize domestic deployment, which Al-Dayel indicated was a deliberate choice to "anchor" investments in Saudi markets. Outlook Growth Catalyst aims to more than double the fund size within six months before a final close, a timeline that, if met, would push the vehicle well into the mid-three-figure millions range. That additional capital would give the firm greater flexibility to lead larger rounds and support follow-on growth for portfolio companies across business services, consumer goods, healthcare, and technology. For entrepreneurs and corporate owners in Saudi Arabia, the fund presents a new source of growth capital that prioritises profitability and scaling over early-stage experimentation. For regional investors, the close is a concrete signal that despite regional tensions, structured private capital deployment in Saudi markets is proceeding, backed by a mix of government-linked and family-office capital. --- ## Ukrainian AI fintech startup chooses Doha as base after securing Qatari backing URL: https://startupsmena.com/ukrainian-ai-fintech-startup-chooses-doha-as-base-after-securing-qatari-backing-mqb8kaws Date: 2026-06-12 Category: fintech Tags: qatar, ukraine, fintech, ai, funding, doha, growthx-capital, mariia-shevchenko **Summary:** GRO, a Ukrainian-founded AI fintech startup led by Mariia Shevchenko and other Ukrainian and German co-founders, is relocating its headquarters to Doha after receiving backing from Qatar's new GrowthX Capital fund. The move positions GRO to scale across the Middle East with a privacy-first AI financial assistant focused on personal and family finance. GRO , a Ukrainian-founded artificial intelligence fintech startup, has chosen Doha as its new base after securing backing from GrowthX Capital , a newly launched Qatari venture fund. The company — founded by Mariia Shevchenko alongside Ukrainian and German co-founders — announced plans to relocate its headquarters to Qatar as it scales across the Middle East. The investment was revealed at a launch event for GrowthX Capital, which its founder, Snoonu CEO Hamad Al-Hajri , said will deploy QAR 500 million (€119 million) into startups over the next five years. "We came here, met investors and started building relationships," Shevchenko said, underscoring the role of Web Summit Qatar as the initial meeting point between GRO and local backers. Shevchenko added that she plans to relocate to Qatar full-time as the company enters its next phase of growth. GRO is developing an AI-powered financial assistant designed to help users manage spending, make financial decisions and improve financial literacy while keeping personal financial data private. The platform targets adults and families and is developing parental-control features. On privacy, Shevchenko emphasised the company's approach: "It needs to be private for your finances. We are working hard on an architecture that makes it a closed system." Product focus and technical strengths AI financial assistant for personal and family finance management. Parental-control features under development to support family users. Privacy-first architecture with contributions from the company’s German team, noted for expertise in privacy and parental-control systems. The decision to base GRO in Doha traces back to interactions at Web Summit Qatar, where the founders connected with investors and began building relationships that culminated in GrowthX Capital’s support. The fund’s launch event was held at Qatar Chamber and attended by notable figures including Qatar Financial Centre CEO Mansoor Rashid Al-Khater and Dr Olga Rivina , co-founder and chairperson of the Ukrainian Business Forum in Qatar. Hamad Al-Hajri described GRO as having the potential to become a future "unicorn" — a startup valued at more than $1 billion (€866 million). The QAR 500 million commitment from GrowthX Capital is targeted at attracting international founders to Qatar and supporting their regional expansion over the coming five years. Context and reactions Ukraine’s ambassador to Qatar, Andrii Kuzmenko, welcomed the investment, calling it a sign of growing business ties between the two countries. GRO’s mixed Ukrainian and German founding team is being positioned to leverage regional market opportunities while maintaining strong privacy and product-development practices. Outlook: With its announced move to Doha and direct backing from GrowthX Capital, GRO is positioned to accelerate product development and market entry across the Middle East. The combination of local capital, a relocation of leadership, and a stated focus on privacy and family-oriented features sets the company on a path to scale — and, according to Al-Hajri, possibly achieve unicorn status in the years ahead. --- ## Israel releases Hamas co-founder, father of 'Green Prince,' after more than two years of detention URL: https://startupsmena.com/israel-releases-hamas-co-founder-father-of-green-prince-after-more-than-two-years-of-detention-mqb8e3nb Date: 2026-06-12 Category: other Tags: palestine, israel, politics, conflict, hassan-yousef **Summary:** Hassan Yousef, a 71-year-old co-founder and senior West Bank leader of Hamas, was released from Israeli administrative detention after more than two years and taken to hospital. The article notes his long detention history, founding role in Hamas in 1987, and his relation to Mosab Hassan Yousef. Hassan Yousef , a 71-year-old co-founder of Hamas and a senior leader in the West Bank, was released from Israeli administrative detention on Thursday after being held since October 2023, his son Owais confirmed. Hamas issued an official statement congratulating Yousef and his family and noting that he has spent more than 20 years in prison cumulatively. Israeli authorities reportedly released him near Hebron and he was taken directly to a hospital in Ramallah. "I can't sleep because of the pain," footage reviewed by Agence France-Presse showed Yousef telling loved ones from a hospital bed, where he appeared with one arm in a sling. The footage was among the reports that said Yousef was not charged or tried during his most recent detention. Context and background Hassan Yousef co-founded Hamas in 1987 alongside Sheikh Ahmed Yassin and other Palestinian members of the Muslim Brotherhood. He has long been identified as a senior Hamas figure in the West Bank. His detention history is lengthy: he was released in July 2020 after serving 16 months, and archival images show him previously released from Ofer prison on January 19, 2014 after a 28-month term. Hamas’ statement marking his release emphasized his decades-long confrontation with Israeli authorities and reiterated internal recognition of his role; it also singled out the cumulative prison time he has endured. Media reports indicated that during this most recent period of detention Yousef was held without trial under administrative detention—a practice under which detainees can be held on security grounds without formal charges for extended periods. Yousef is the father of Mosab Hassan Yousef , who defected from Hamas in the 1990s, publicly opposed the organization, and authored the 2010 memoir Son of Hamas. Mosab has been widely reported to have worked with Israeli counter-intelligence and to have cooperated with Mossad in various operations, and he has since campaigned against the group. After his release Thursday, footage and reporting showed Yousef being transported to medical care in Ramallah; the source of his arm injury has not been made public. Outlook Yousef’s release will have political and security implications in the West Bank and beyond. As a founding figure with long-standing influence, his return to the West Bank could be used by Hamas as a rallying symbol amid ongoing tensions in the Israeli-Palestinian arena. At the same time, his frail condition and the reports that he was not charged during his detention may deepen debates over administrative detention and its use in security cases. Local and international actors will likely monitor both his health and any public statements he or his movement make in the coming days. The dynamics within Hamas and between Palestinian factions and Israeli authorities could be affected by how political leaders and security services respond to his release. James Genn contributed to this report. --- ## Foreign investors return to African markets as reforms boost confidence URL: https://startupsmena.com/foreign-investors-return-to-african-markets-as-reforms-boost-confidence-mqb0oyud Date: 2026-06-12 Category: funding Tags: nigeria, egypt, ghana, funding, standard-chartered, dalu-ajene, uae, debt-restructuring **Summary:** Standard Chartered says fiscal and FX reforms in countries including Nigeria, Ghana, Egypt and Zambia, supported by development finance institutions and export credit agencies, are drawing Gulf investors, hedge funds and asset managers back to African markets. Foreign investors are re-entering African markets as governments implement fiscal and currency reforms that have begun to restore confidence, Standard Chartered’s Africa team says. Reforms in Nigeria, Ghana, Egypt and Zambia, along with targeted support from export credit agencies and development finance institutions, have helped unlock capital from Gulf investors, hedge funds, asset managers and development financiers. Projects such as the UK Export Finance-backed refurbishment of Tin Can Island Port in Lagos — a package valued at approximately $1 billion — illustrate growing investor readiness to fund large transactions. “The financial challenges after the COVID-19 pandemic were quite deep, and hence there was a risk-off mindset,” said Dalu Ajene , Chief Executive and Head of Coverage for Africa at Standard Chartered. “It’s now attracting both concessionary funding, but also real money investors to be able to now look at Africa in a much more serious way than they otherwise would have three years ago when a lot of African balance sheets were in a mess.” Ajene highlighted several drivers of the renewed interest. Nigeria’s removal of its long-running petrol subsidy and foreign exchange reforms, Ghana and Zambia’s debt restructuring efforts, and Egypt’s receipt of major international support packages have all helped stabilise markets and reopen sovereign debt channels that were effectively shut during the pandemic and the period of elevated global interest rates. Development finance institutions and export credit agencies have played a bridging role, supporting projects and crowding in private capital. Ajene cited the Tin Can Island Port refurbishment — backed by United Kingdom Export Finance — as an example of such facilitation. Hedge funds and asset managers are increasingly active in selected sovereign debt markets, particularly in Egypt, Nigeria, Zambia, Uganda and Ghana, where opportunities for returns have re-emerged as perceived risk recedes. Gulf interest is rising, supported by expanding economic ties with the United Arab Emirates. Several African governments, including Nigeria, Kenya, Morocco and Mauritius, have signed or are pursuing comprehensive economic partnership agreements with the UAE aimed at boosting trade and investment. Ajene argued these cooperation frameworks can unlock larger transactions: “Once you have the cooperation frameworks, then you can now start seeing the kind of chunky investments that matter.” He added that such deals could help overcome a historical tendency for projects to struggle to exceed $100 million. On financing instruments, Ajene defended the use of total return swaps (TRS) by governments such as Angola, Nigeria and Senegal. Critics, including the IMF and transparency advocates, have warned TRS can obscure the full extent of liabilities. “It’s actually unfair to say they’re not transparent, and I think it’s also unfair to classify them as more or less risky,” Ajene said. Standard Chartered confirmed it participates in TRS transactions but declined to discuss specific deals due to client confidentiality. Outlook: while reforms and renewed financing interest have reopened capital flows, sustaining momentum will depend on governments maintaining reforms, managing debt vulnerabilities and preserving macroeconomic stability. Investors and development financiers remain active, but high borrowing costs and public finance pressures mean progress remains contingent on continued policy credibility and careful debt management. --- ## SVC Invests in Khwarizmi Venture Capital Fund II to Expand Funding for Saudi Tech Startups URL: https://startupsmena.com/svc-invests-in-khwarizmi-venture-capital-fund-ii-to-expand-funding-for-saudi-tech-startups-mqaweciv Date: 2026-06-12 Category: funding Tags: saudi-arabia, fintech, ai, funding, khwarizmi-capital **Summary:** Saudi Venture Capital (SVC) has invested in Khwarizmi Venture Capital Fund II to boost Seed-to-Series A funding for Saudi tech startups, with the fund focusing on fintech, e-commerce and AI applications across the Kingdom. Saudi Venture Capital (SVC) has invested in Khwarizmi Venture Capital Fund II, marking a fresh wave of institutional support for early-stage technology companies in Saudi Arabia. The fund, managed by Khwarizmi Capital — a firm licensed by the Capital Market Authority — will target Seed-to-Series A startups across the Kingdom, with a sector-agnostic mandate but particular attention to fintech, e-commerce and artificial intelligence applications. "With the support of SVC, we will continue to invest in exceptional founders, helping them build scalable companies that drive innovation, create economic value, and strengthen Saudi Arabia’s position as a leading hub for entrepreneurship and venture capital in the region,” said Abdulaziz AlTurki , Managing Partner of Khwarizmi Ventures. The investment is part of a broader strategy by SVC to bolster the local venture ecosystem by channeling capital into fund managers who can deploy resources across a pipeline of startups, rather than directing investments exclusively into individual companies. By backing Khwarizmi Venture Capital Fund II, SVC aims to expand the availability of early-stage capital at the Seed and Series A stages — phases where funding often determines whether a company scales or stalls. Fund manager: Khwarizmi Capital, licensed by the Capital Market Authority. Fund focus: Seed to Series A technology and technology-enabled startups; sector-agnostic with emphasis on fintech, e-commerce and AI. Investor: Saudi Venture Capital (SVC), an institutional backer of local venture funds. Khwarizmi Ventures framed the partnership as a means to sustain support for entrepreneurs building scalable technology businesses. The move underscores a shift in how institutional capital is being deployed in the Kingdom: rather than making direct bets on individual startups, investors like SVC are increasingly supporting local fund managers to multiply impact and cultivate a more mature venture capital market. Supporting fund managers can accelerate the development of specialized investing strategies, with Khwarizmi signalling particular interest in fintech, e-commerce and artificial intelligence use cases that cut across industries. These sectors are seen by fund managers as areas with strong product-market fit potential and opportunities for rapid scaling within and beyond Saudi markets. Industry observers say the performance of Khwarizmi Venture Capital Fund II will act as a bellwether for the next generation of Saudi technology startups emerging from Seed and Series A stages. Attention will center on whether institutional allocations to venture funds translate into larger downstream funding rounds, viable exit opportunities and a deeper pipeline of scalable companies. Looking ahead, the success of this fund will be measured by several indicators: the ability to attract high-quality founders, the pace at which portfolio companies raise follow-on financing, and eventual exits that validate the fund manager’s selection and support strategies. As SVC and other institutional backers continue to support local managers, the market will watch whether this model broadens access to capital and fosters more specialized investment plays in AI, fintech and digital commerce. --- ## Egypt steps up efforts to strengthen startup ecosystem URL: https://startupsmena.com/egypt-steps-up-efforts-to-strengthen-startup-ecosystem-mqafqsox Date: 2026-06-12 Category: other Tags: egypt, funding, startups, incubators, msmeda **Summary:** Egypt's Ministerial Group for Entrepreneurship, chaired by Deputy PM Hussein Eissa, reconvened to coordinate cross-ministerial policies to boost the startup ecosystem, focusing on finance, incubators/accelerators, regulatory simplification and mapping industrial investment opportunities. Egypt has renewed high-level focus on strengthening its startup ecosystem after the Ministerial Group for Entrepreneurship, chaired by Deputy Prime Minister for Economic Affairs Hussein Eissa , held its second meeting following a government restructuring in April. The working group met on Wednesday with senior cabinet ministers and agency leaders to coordinate policies that aim to make the environment “more competitive and attractive” for startups, target access to finance, simplify business procedures and identify investment opportunities across priority industrial sectors. "Entrepreneurship remains a strategic priority for the Egyptian government," Hussein Eissa said, emphasising the role of startups in "driving economic growth, fostering innovation, and creating high-quality employment opportunities for young people." The meeting convened a cross-ministerial team that includes Foreign Minister Badr Abdel-Aati ; Minister of Supply Sherif Farouk ; Minister of Social Solidarity Maya Morsi ; Minister of Industry Khaled Hashim ; and Bassel Rahmy , CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA). Ministers used the session to align efforts on several fronts: improving market access for homegrown ventures, enhancing cooperation among state institutions, and ensuring existing initiatives and programmes are used effectively to deliver measurable development outcomes. Foreign Minister Badr Abdel-Aati framed entrepreneurship as central to long-term growth and highlighted international cooperation as a vehicle to expand financing options. "Promoting entrepreneurship is a key pillar of sustainable economic growth," he said, adding that the government is pursuing international co-operation programmes to provide "innovative funding mechanisms for startups," alongside support for incubators and accelerators to scale promising ventures. Industry Minister Khaled Hashim reviewed the ministry’s work to map investment opportunities and industrial needs across priority sectors as part of a broader industrial development strategy. Supply Minister Sherif Farouk urged steps to reduce procedural friction, stressing the need to simplify company establishment, trademark registration and licensing processes to bolster the business climate and support emerging firms. Group composition and immediate priorities Chair: Hussein Eissa, Deputy Prime Minister for Economic Affairs Members: Badr Abdel-Aati (Foreign Minister), Sherif Farouk (Minister of Supply), Maya Morsi (Minister of Social Solidarity), Khaled Hashim (Minister of Industry) Agency participation: Bassel Rahmy, CEO, MSMEDA Eissa underscored a commitment to maintain direct channels with founders and entrepreneurs, noting he has "previously met with many of them to discuss their ideas, proposals, and the challenges they face." That outreach is intended to inform policy design and ensure that support measures address practical bottlenecks, from market access to scaling internationally. Officials signalled an emphasis on coordinated, integrated initiatives that join financing, incubation, regulatory reform and industrial strategy. While no specific funding amounts were disclosed at the session, ministers committed to bolstering incubators and accelerators and to leverage international cooperation schemes to expand innovative financing for startups. Outlook: The ministerial platform is positioned to translate strategic priorities into coordinated action across ministries and agencies. Success will depend on delivering concrete regulatory simplifications, mobilising targeted financing mechanisms through international partnerships, and converting industry-level opportunity mapping into viable market channels for Egyptian founders seeking domestic growth and export expansion. --- ## Fimple in Egypt: Powering the Next Wave of North African Fintech URL: https://startupsmena.com/fimple-in-egypt-powering-the-next-wave-of-north-african-fintech-mqafttmc Date: 2026-06-12 Category: fintech Tags: egypt, fintech, financial-inclusion, bnpl, fimple **Summary:** Fimple is operating from Cairo to provide a cloud-native core banking platform tailored to Egypt’s regulatory requirements (CBE, EMLCU, Meeza) and to support financial inclusion, BNPL and Islamic finance growth across North Africa. Fimple has positioned itself in Egypt to support a major expansion of fintech in North Africa, operating from a Cairo office staffed by a team with direct regulatory engagement experience with the Central Bank of Egypt (CBE). Egypt, with a population exceeding 105 million and a banking sector dominated by large state-owned institutions such as the National Bank of Egypt and Banque Misr, represents a significant opportunity for cloud-native core banking platforms that can meet the CBE’s evolving regulatory requirements and support financial inclusion targets. "Egypt is the Arab world’s most populous country, Africa’s third-largest economy, and home to a financial services sector that is transforming with remarkable speed." Fimple’s pitch to banks, fintechs and international entrants centres on a platform built for digital-first operations rather than adaptations of branch-centric systems. The CBE’s 2023 digital banking licensing framework creates specific capital, security, data protection and operational resilience requirements for digital banks; core systems must be designed from the outset to comply. That mandate extends to technical integrations and compliance automation: certified InstaPay connectivity for real-time account-to-account transfers, Meeza support for national card issuance and processing, and built-in transaction monitoring and customer due diligence aligned to the Egyptian Money Laundering Combating Unit (EMLCU). The Egyptian market profile creates particular technology and commercial constraints. Roughly a third of adult Egyptians remain unbanked, and the CBE’s financial inclusion strategy targets 70% adult account ownership by 2030—an objective that implies acquiring millions of new customers. Serving this segment profitably requires platforms that can process very high volumes of small transactions at low unit cost. Fimple emphasises cloud-native scalability and variable cost structures as the unit-economics enabler that can make financial inclusion commercially viable. Regulatory developments in Egypt also include one of Africa’s earliest BNPL frameworks, issued by the CBE in 2022, which covers both conventional and Islamic BNPL products and sets licensing, credit assessment and consumer protection standards. Islamic banking is explicitly accommodated in the CBE’s licensing regimes and is growing rapidly: players such as Faisal Islamic Bank of Egypt, Al Baraka Bank Egypt and Arab International Bank offer dedicated Islamic banking services alongside Islamic windows at conventional banks. Fimple highlights support for AAOIFI-aligned product structures and the CBE’s additional transparency and consumer protection rules for Sharia-compliant offerings. Regulatory integrations required: InstaPay, Meeza, AML/CTF reporting to EMLCU. Policy milestones: digital banking licensing framework (2023); BNPL framework (2022). Market targets: CBE’s 70% adult account ownership by 2030; population >105 million. Looking ahead, the confluence of Egypt’s large population, rising credit penetration and a skilled technology talent pool positions the country as both a domestic market and a regional gateway. For international fintechs and banks, compliance with CBE, EMLCU and Meeza standards will be a prerequisite for scale. Fimple’s Cairo-based presence and team experience engaging directly with the CBE aim to lower the barrier for institutions seeking compliant, scalable core banking infrastructure that can address financial inclusion, BNPL, and Islamic finance growth across Egypt and the broader North African market. --- ## investor in saudi arabia why growing firms need capital URL: https://startupsmena.com/investor-in-saudi-arabia-why-growing-firms-need-capital-mqabhva0 Date: 2026-06-12 Category: funding Tags: saudi-arabia, tech, financing, vision-2030, funding **Summary:** The article explains how investor capital and strategic support under Saudi Arabia's Vision 2030 help growing firms scale across sectors like technology, fintech, healthcare and renewables. Investors provide growth capital, networks, operational guidance and credibility that accelerate expansion and future fundraising. Saudi Arabia's economic transformation under Vision 2030 has created a clear opportunity for growing businesses to secure both capital and strategic support as they scale. Rapid expansion in sectors such as technology and digital services, fintech, healthcare, renewable energy, logistics, e‑commerce, tourism and manufacturing means companies often need outside investment to fund product development, technology infrastructure, talent acquisition, marketing and market expansion. "an investor in Saudi Arabia can provide the financial resources needed to execute growth plans effectively," the analysis notes, highlighting the central role external funding plays in enabling firms to move faster and seize market opportunities. That strategic role extends beyond money. Investors active in the Kingdom frequently bring industry experience and operational know‑how that help founders navigate growth challenges. The source material lists concrete areas where investor expertise adds value, including business strategy, market positioning, operational efficiency, risk management, customer acquisition and revenue optimization. For founders and management teams, this input can reduce costly trial‑and‑error and improve the odds of long‑term success. How investor support translates into scale Access to growth capital: Investors supply funds that allow firms to invest in product development, technology infrastructure and market expansion without relying solely on internal cash flow or traditional debt. Network access: Investors typically open doors to industry leaders, potential customers, strategic partners, government stakeholders and future financiers—shortening the time required to establish critical relationships. Credibility and market confidence: Backing from reputable investors signals validation to customers, suppliers and employees, making it easier to form partnerships and attract talent. Operational improvements: Investor guidance commonly leads to strengthened financial management, reporting systems, governance structures and performance tracking, laying a foundation for sustainable growth. The Kingdom's geographic position and policy environment mean investor partnerships can also accelerate regional expansion. Investors familiar with local regulatory frameworks and market entry strategies can help firms plan expansion, establish local partnerships and execute customer acquisition programs with less uncertainty. Investors are valuable especially during turbulent periods. The piece emphasizes that experienced backers help firms navigate uncertainty, manage cash flow, adjust strategy and identify new opportunities—support that is crucial when firms confront economic fluctuations or competitive pressure. Importantly, early investor involvement is framed as a stepping stone to larger funding events. By helping companies hit key performance milestones, improve governance and strengthen financial metrics, initial investors create clearer pathways to Series rounds, strategic partnerships, mergers and acquisitions, and potential public market opportunities. Outlook With Saudi priorities aligned to innovation and diversification under Vision 2030, investor interest is likely to remain focused on sectors such as technology, sustainability, healthcare, fintech and digital transformation. For growing businesses in the Kingdom, securing an investor can mean not just capital but access to expertise, networks and credibility that materially improve prospects for scale and long‑term value creation. --- ## 'Bureaucratic Temper Tantrum': Trump White House Pilloried Over Reported Effort to Deport Iran War Critic Trita Parsi URL: https://startupsmena.com/bureaucratic-temper-tantrum-trump-white-house-pilloried-over-reported-effort-to-deport-iran-war-crit-mqabf6d3 Date: 2026-06-12 Category: other Tags: usa, policy, immigration, free-speech, quincy-institute **Summary:** The Trump administration reportedly opened a probe that could seek to deport Iranian-Swedish critic Trita Parsi, sparking condemnation from civil liberties and anti-war groups and raising First Amendment and immigration law concerns. Trump administration probes deportation of Iran war critic Trita Parsi, drawing sharp rebukts The Trump administration has reportedly opened an investigation that could lead to the deportation of Trita Parsi , an Iranian-Swedish citizen and longtime U.S. resident who is co-founder and executive vice president of the Quincy Institute for Responsible Statecraft and co-founded the National Iranian American Council (NIAC). Parsi, who holds a U.S. green card and has lived in the United States for 25 years, has been a prominent critic of the administration’s military actions since February, when U.S. and Israeli operations against Iran have been linked to more than 1,700 civilian deaths and widespread regional fallout. “The secretary has been very clear,” an unnamed administration official reportedly said, referring to Secretary of State Marco Rubio. “Anyone who seeks to undermine the US, we’re taking a hard look at.” Officials cited Parsi’s public warnings against escalation with Iran, his informal advisory role during negotiations for the 2015 Iran nuclear deal, opposition to U.S. sanctions, and correspondence with Iranian officials as factors that the State Department views as evidence of spreading “Iranian influence.” The reported probe comes amid a broader pattern in which the administration has used immigration tools against foreign-born critics and those accused of promoting the agendas of adversaries. Parsi has been a highly cited anti-war voice across media since February and is prepared to pursue legal action if detained or targeted for deportation, Quincy CEO Lora Lumpe noted in internal communications reportedly prepared by the organization. Other recent actions by the administration include the April arrests of two women alleged to be relatives of Qasem Soleimani—claims later shown to be unsupported—and revocation of green cards; and cancellation of a visa belonging to the daughter of Ali Larijani, secretary of Iran’s Supreme National Security Council, who was assassinated in March. Critics say the administration has similarly targeted critics of Israel, including Columbia student protest leader Mahmoud Khalil and Tufts student Rümeysa Öztürk, whose deportation case was thrown out by an immigration judge in February. Civil liberties groups and anti-war commentators have condemned the reported investigation as an attack on free speech. “Trita Parsi is a courageous and outspoken critic of the US-Israeli war on Iran, alongside whom we’re proud to have worked in opposition to war and injustice for many years,” said the organization Defending Rights & Dissent. “The Trump administration’s investigation of Parsi is an outrageous attack on free speech. Government officials are explicit that they are exploring deporting Parsi specifically for his advocacy—a blatant affront to the First Amendment.” Branko Marcetic, who writes for Jacobin, called the reported targeting “contemptible” and added, “Irony is if the Trump admin had listened to Parsi, they’d be in much better shape now.” The episode has also been linked to activity by pro-Trump influencer Laura Loomer, who publicly accused Parsi of being “a mouthpiece for the Iranian regime” and warned that his “days in our country are numbered.” Outlook: If the administration proceeds, the case could test the limits of a rarely used McCarran-era provision of the Immigration and Nationality Act that allows stripping legal residents of status for speech deemed adverse to a “compelling United States foreign policy interest.” Parsi and Quincy Institute lawyers appear prepared to challenge any attempt to detain or deport him, setting the stage for a high-profile legal and constitutional showdown over advocacy, national security, and the use of immigration powers. --- ## Inside the UAE's $30 bn AI bet: where Stargate, Innovation City and the GCC's compute map intersect URL: https://startupsmena.com/inside-the-uaes-30-bn-ai-bet-where-stargate-innovation-city-and-the-gccs-compute-map-intersect-mq9s5j7t Date: 2026-06-11 Category: tech Tags: uae, ai, cloud, infrastructure, stargate, innovation-city, paul-dawalibi, microsoft **Summary:** The UAE is building large-scale AI infrastructure — led by the Stargate hyperscale campus developed by Khazna Data Centres (G42) with global partners — and creating purpose-built ecosystems like Innovation City Ras Al Khaimah to attract AI founders and companies. The United Arab Emirates is accelerating an infrastructure-led strategy to anchor a regional AI economy, with Stargate UAE — a 19.2 square kilometre hyperscale campus — under construction in Abu Dhabi and a slate of major cloud and compute commitments arriving alongside purpose-built ecosystems such as Innovation City Ras Al Khaimah. Stargate, developed by Khazna Data Centres (a unit of G42 ) in partnership with OpenAI, Oracle, NVIDIA, Cisco and SoftBank, is designed to consume up to five gigawatts of power; its first phase is expected to be completed in the third quarter of 2026. Microsoft has committed more than $7.9 billion to AI and cloud infrastructure in the UAE between 2026 and 2029, part of a $15.2 billion total investment since 2023 announced at a meeting between Sheikh Khaled bin Mohamed and Microsoft President Brad Smith . Direct quote UAE Minister for Artificial Intelligence Omar Al Olama framed Stargate as an audacious national project, calling it proof of the country's ability to build things "that no one has the audacity to dream of". Context and details Stargate has been described as the most ambitious AI infrastructure project attempted outside the United States. Its scale and the roster of global technology partners position the campus as a regional compute anchor that could support advanced generative AI training and inference workloads. The presence of OpenAI alongside hardware and systems partners including NVIDIA and Cisco signals ambitions beyond traditional data centre capacity — aiming to provide low-latency, sovereign compute for enterprises, governments and startups across the Gulf Cooperation Council. Alongside Stargate, the UAE's cloud landscape is deepening. Microsoft, AWS and Google Cloud have established infrastructure in the country, and Microsoft’s multi-billion-dollar expansion was made public during an official meeting between Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, and Brad Smith, reflecting high-level political backing for the private-sector investments. Microsoft’s announced $7.9 billion spend from 2026 to 2029 adds to a broader corporate wave placing substantial capital into regional data centres, networking and cloud services. Innovation City in Ras Al Khaimah is being marketed as the operational counterpart to that raw compute capacity: a purpose-built AI-powered free zone designed to host founders in AI, Web3, robotics, gaming and healthtech. Under CEO Paul Dawalibi , Innovation City emphasizes speed of incorporation, tailored regulation and community depth aimed at accelerating the formation of product-level companies that can exploit the newly available infrastructure. Outlook Infrastructure timeline: With Stargate’s first phase due in Q3 2026 and major cloud vendors already present, the UAE is shifting the typical sequence — placing infrastructure ahead of application-layer saturation. Opportunity window: Officials and ecosystem builders position the current period as a bounded opportunity for founders to establish themselves before application categories become crowded. Regional dynamic: Saudi Arabia, Qatar and the UAE are simultaneously pursuing sovereign AI capacity, creating a Gulf-wide compute topology that could reshape where and how AI products are developed and deployed. For entrepreneurs and investors watching compute, regulation and market demand converge, the UAE’s coordinated industrial and ecosystem moves present a rare moment where physical infrastructure, capital and policy timelines align — making the decision less about whether to relocate and more about whether to act fast enough to claim space in the next wave of AI-native companies. --- ## Hub71 announces support for UAE–India Start-Up Series 2.0 to expand the India–Abu Dhabi startup corridor URL: https://startupsmena.com/hub71-announces-support-for-uaeindia-start-up-series-20-to-expand-the-indiaabu-dhabi-startup-corrido-mq9s1i30 Date: 2026-06-11 Category: tech Tags: uae, india, healthtech, fintech, hub71, expansion, funding **Summary:** Hub71 is supporting the UAE–India Start‑Up Series 2.0 to bring ten high‑potential Indian startups into Abu Dhabi through tailored Access and Immersion programmes, offering mentorship, regulatory support and financial incentives to help founders scale regionally and globally. Hub71 has pledged support for the second edition of the UAE–India Start-Up Series, a cross-border initiative run by the UAE‑India CEPA Council designed to funnel high‑potential Indian startups into Abu Dhabi’s technology ecosystem. Announced at the Hub71 Impact Event 2026, Start‑Up Series 2.0 will identify ten Indian startups for tailored engagement with Hub71’s Access and Immersion programmes and offers a package of mentorship, regulatory support and financial incentives to help founders assess Abu Dhabi as a base for regional and global expansion. "Through the UAE–India CEPA Council Startup Series, Hub71 is welcoming a cohort of ambitious founders building innovative companies with strong market validation and global potential," said Ahmad Ali Alwan , Chief Executive Officer of Hub71. "The programme provides entrepreneurs with access to the expertise, networks, and opportunities needed to support their next stage of growth and international expansion." Programme mechanics and incentives Start‑Up Series 2.0 narrows its focus to sectors aligned with Abu Dhabi’s stated innovation priorities, including HealthTech, FinTech, ClimateTech and Advanced Manufacturing, plus other emerging technologies. The partnership will select ten Indian startups to participate across Hub71’s two engagement tracks: Access Programme: Three startups will be shortlisted, with one formally onboarded. The onboarded company will receive tailored mentorship, investor introductions, regulatory support, and access to Hub71’s corporate and government partners, alongside AED 250,000 in in‑kind incentives and AED 250,000 in cash via a SAFE note. Immersion Programme: Seven startups will join a two‑week immersion — one week of virtual preparation on the Abu Dhabi and UAE ecosystem followed by one week of in‑person, curated sessions at Hub71 focused on market entry, regulator briefings and introductions to investors and partners. The Start‑Up Series partnership between Hub71 and the UAE‑India CEPA Council was first announced in November 2025 and has already produced tangible outcomes. The inaugural edition drew more than 10,000 applications and led to several founders entering Hub71 programmes: AI‑first radiology platform Endimension was accepted into Hub71’s Access Programme as part of Cohort 18. Backed by Inflection Point Ventures, SucSEED Indovation and SINE IIT Bombay, Endimension serves more than 800 hospitals and diagnostic centres and has analysed over 1.5 million scans across X‑ray, CT and MRI modalities. Four additional startups from the first edition — BioReform , Docket Run , Data Sutram and SBNRI — entered Hub71’s Immersion Programme, participating in 1:1 needs assessments, market‑entry sessions, investor and corporate engagement, regulatory briefings and a showcase at the Hub71 Impact Event. Diplomatic backing and strategic intent "The UAE‑India relationship is one of the most consequential bilateral partnerships of our time," said H.E. Abdulnasser Alshaali, PhD , Ambassador of the UAE to India. "What matters now is translating that framework into tangible opportunity, and the UAE is firmly committed to building a genuine innovation corridor with India. The UAE‑India Start‑Up Series, delivered with the strong support of Hub71, is how we turn that ambition into reality: connecting Indian founders with Abu Dhabi’s capital, customers, and ecosystem, and giving them a clear route to scale across borders." Hub71 said Start‑Up Series 2.0 will adopt a more rigorous selection process and deeper engagement with Abu Dhabi’s investment and corporate community. Applications for the second edition are scheduled to open in July, as the ecosystem seeks to formalise a durable corridor that connects Indian entrepreneurial talent with Abu Dhabi’s capital, customers and infrastructure for scaling into global markets. --- ## Saudi fixed capital investment rises over 5% to $95.4bn in Q1 URL: https://startupsmena.com/saudi-fixed-capital-investment-rises-over-5-to-954bn-in-q1-mq9kllst Date: 2026-06-11 Category: other Tags: saudi-arabia, investment, infrastructure, vision-2030, gfcf **Summary:** Saudi Arabia's gross fixed capital formation rose 5.1% to SR358.2 billion ($95.4bn) in Q1 2026, driven mainly by private-sector funding while government GFCF jumped 54%; the report highlights mixed private-sector momentum amid Vision 2030 projects and energy market shifts. Saudi Arabia attracted SR358.2 billion ($95.4 billion) in fixed capital investment in the first quarter of 2026, a 5.1 percent increase year‑on‑year, driven by continued government and private‑sector funding, official economic indicators showed. Non‑government sources accounted for nearly 89 percent of gross fixed capital formation (GFCF), highlighting the private sector’s dominant role in the quarter. “Gross Fixed Capital Formation grew by approximately 5.1 percent in Q1 2026. This increase is attributed to a 1.3 percent (increase) in GFCF from the non‑government sector, which accounted for 89 percent of GFCF during the same period,” the Ministry of Investment said in its May 2026 economic indicators report. The ministry’s breakdown shows non‑government GFCF reached SR319.9 billion in Q1, up 1.3 percent from a year earlier, while government GFCF surged 54 percent to SR38.3 billion. The rebound in investment follows a 6 percent decline in gross fixed capital formation in 2025, signaling a return to growth amid a broader investment cycle tied to Vision 2030 projects, infrastructure spending and private‑sector expansion. Context and sector dynamics Real GDP rose 3 percent in Q1 2026 compared with Q1 2025, GASTAT data show, with oil and non‑oil activities each expanding by 2.9 percent and government activities increasing 1.5 percent. Nominal GDP growth was driven primarily by a 12.3 percent increase in oil activities during the quarter. The non‑oil, non‑government component — the main element of private‑sector fixed investment — dipped slightly, contracting 0.2 percent in Q1. Other indicators presented mixed momentum: the consumer price index rose 1.7 percent year‑on‑year in April; point‑of‑sale transactions climbed 11.8 percent; and the purchasing managers’ index (PMI) for the non‑oil private sector fell 5.4 percent year‑on‑year in May to 52.8 points, still above the 50‑point threshold that signals month‑on‑month improvement. Energy market developments influenced the backdrop: Brent crude averaged $102.5 per barrel in April, up 54.2 percent year‑on‑year, while reported Saudi oil production declined 24.8 percent over the same period. The International Monetary Fund earlier noted the economy entered 2026 with “strong momentum,” supported by robust non‑oil activity and domestic demand, even as it expects growth to moderate through the year. The ministry highlighted investment‑linked imports and long‑term capital deployment as salient features of the medium‑term outlook. Outlook With government GFCF jumping 54 percent and the private sector still supplying nearly nine of every ten riyals invested, policymakers are likely to view the Q1 rebound as validation of ongoing fiscal and project spending. However, the slight contraction in non‑oil, non‑government fixed investment and the PMI’s year‑on‑year decline underscore uneven momentum within the private sector. Going forward, the trajectory of GFCF will depend on the pace of Vision 2030 project execution, global oil market volatility and domestic demand. Continued monitoring of PMI trends, consumer spending and import‑linked investment flows will be key to assessing whether Q1’s return to growth can be sustained through 2026. --- ## Qualcomm, Aramco, Saudi Arabia’s RDIA and HUMAIN announce startups selected for Design in Saudi Arabia with AI 2026 URL: https://startupsmena.com/qualcomm-aramco-saudi-arabias-rdia-and-humain-announce-startups-selected-for-design-in-saudi-arabia--mq9khla4 Date: 2026-06-11 Category: tech Tags: saudi-arabia, ai, deep-tech, qualcomm, aramco **Summary:** Qualcomm, Aramco, RDIA and HUMAIN selected ten startups for the 2026 Design in Saudi Arabia with AI (DISAI) programme to support AI-enabled deep‑tech solutions, providing technical, industrial and commercialization mentorship and infrastructure from April to November 2026. Qualcomm (through Qualcomm Technologies International, Ltd.), Aramco (through aramcoSAIL), Saudi Arabia’s Research, Development and Innovation Authority (RDIA) and HUMAIN have announced the ten startups selected for the 2026 edition of the Design in Saudi Arabia with AI (DISAI) programme. Launched at LEAP 2025, DISAI 2026 attracted more than 124 applications from across Saudi Arabia and wider markets and will run from April through November 2026. The programme expands technical support this year to include platforms such as Arduino® UNO™ Q, Arduino VENTUNO™ JQ, Qualcomm AI accelerators including AIC200, and industrial AI gateway platforms, as well as potential HUMAIN inference cloud credits and on‑device acceleration resources. Key quote “DISAI has not only allowed us to support and engage unique and technically advanced startups, but also inspired us to scale to a larger corporate program for open innovation,” said Ahmad O. Al‑Khowaiter , Executive Vice President Technology Innovation at Aramco. “The next installment of the DISAI program will attract entrepreneurs from the region and globally to strengthen the ecosystem, focusing on industrial AI, Internet of Things (IoT), and advanced communications.” Programme context and support DISAI was designed to support deep‑tech startups building AI‑enabled solutions in the Kingdom by providing hands‑on guidance across product design, development and intellectual property (IP) strategy from concept through commercialization. Qualcomm Technologies will provide technical and IP mentorship; aramcoSAIL contributes industrial expertise; RDIA offers strategic guidance on commercialization pathways and ecosystem development; and HUMAIN brings AI infrastructure and development support, including hosting larger models and AI‑enabled on‑device acceleration. Wassim Chourbaji , President, Middle East and Africa, and Senior Vice President, Government Affairs, Europe, Middle East and Africa at Qualcomm, emphasised the programme’s alignment with national objectives: “Saudi Arabia is building one of the world’s most ambitious deep‑tech ecosystems, and we are proud to support this momentum through the second year of the DISAI program. As the Kingdom advances its Vision 2030 objectives — and marks 2026 as the Year of AI — initiatives like DISAI play a critical role in translating national ambition into real‑world innovation.” Sudeepto Roy , Vice President, Engineering, Qualcomm Incorporated, added: “The edge‑AI solutions emerging from this cohort — privacy‑aware, real‑time, and increasingly multimodal, — signal a new level of technical maturity and the potential to reimagine workflows across sectors. IP remains fundamental to long‑term value creation, and we are pleased to see strong momentum in this area, supported by Arabic‑language IP training through L2prosaudiarabia.com.” Selected startups Circula (Saudi) — AI‑powered circular‑economy platform automating industrial waste recovery and compliance Crosscall (France) — Rugged AIoT trackers for 450 MHz industrial and worker‑safety networks Deqa AI (Saudi) — AI‑powered enterprise automation and decision‑support platform Dexabot (Canada) — Industrial security and surveillance using drones and fleets Digital Petroleum (Saudi) — Single edge‑AI industrial sensor to replace multiple legacy sensors Electronic Photonics (Saudi) — LiDAR‑based edge‑AI traffic digital twin for smart intersections Finix Systems (Saudi) — Modular industrial IoT edge controller to retrofit legacy equipment Nommas.ai (Saudi) — AI “factory brain” for quality inspection, predictive maintenance and safety at the edge SDM (Saudi) — Multi‑disease AI diagnostic platform using medical imaging Tawkeed (Saudi) — On‑prem, Arabic‑first AI document intelligence platform compliant with Saudi data‑sovereignty rules Outlook Dr. Yazeed Alaskar , Acting Vice Governor of Innovation Ecosystem Development Sector at RDIA, framed DISAI as part of a strategy to build end‑to‑end capabilities: “The program demonstrates the Kingdom’s growing leadership in enabling AI‑driven solutions that address real‑world challenges across priority sectors, from industry and energy to healthcare and sustainability.” Dr. Yaser Al‑Onaizan , Deputy CEO President of AI Products at HUMAIN, highlighted the collaboration between partners: “By empowering startups to design and deploy advanced, locally relevant AI solutions, DISAI is helping build a resilient and globally competitive technology landscape.” The programme will conclude with a finale event where startups will showcase products and commercial progress developed during the April–November 2026 cycle. --- ## Inside Saudi Arabia's Female-Led Tech Boom URL: https://startupsmena.com/inside-saudi-arabias-female-led-tech-boom-mq934rx8 Date: 2026-06-11 Category: tech Tags: saudi-arabia, ai, cybersecurity, vision-2030, humain, summer-nasief **Summary:** The article highlights a surge of female leadership reshaping Saudi Arabia’s tech sector across AI, cybersecurity, telecoms and digital government, with women occupying senior roles in startups, corporates and policy bodies. Notable names include leaders at Humain, STC Group and PurePerformance, and public initiatives that support talent and AI development. Saudi Arabia’s technology sector is being reshaped by a visible wave of female leadership across AI, cybersecurity, telecommunications, digital government and venture capital. As of September 2025 roughly 389,000 people worked in the national tech industry, and women accounted for 35% of that workforce, Safa AlRashed , assistant deputy minister for future skills and jobs at the Ministry of Communications and Information Technology, told industry audiences — a participation rate the government highlights as significantly higher than many international peers (the UK stood at 22% in December 2025, per BCS). “My work sits at the intersection of strategy and innovation, building the digital direction of an organisation reshaping how Saudi Arabia lives and works,” says HRH Princess Maha Al Saud , who leads emerging technology for one of the Kingdom’s major giga-project developers and oversees AI, big data and PropTech rollouts aimed at simplifying customer experience and optimising operations. High-level appointments illustrate the trend: Deemah AlYahya is secretary-general of the Digital Cooperation Organization; Mona Almehaid is vice president at Humain , the AI company backed by the Public Investment Fund; and Moudhi Al Jamea serves as vice president of STC Group and heads its innovation centre. Alongside senior executives, a new cohort of engineers, coders and researchers — many educated at King Abdullah University of Science and Technology (KAUST) and Princess Nourah bint Abdulrahman University — are returning home after overseas study to build specialised capabilities. Research and policy: The Saudi Data and Artificial Intelligence Authority (SDAIA) has forged partnerships with Nvidia and Google Cloud and supports programmes such as the Microsoft AI Academy to grow technical talent and industry readiness. Industry applications: At KAUST, researchers use AI to monitor reef health and guide coral restoration in the Red Sea; Aramco and Humain are developing Arabic-first AI models tailored to regional language and culture. Supporting ecosystem: Scholarship programmes, the Misk Foundation and The Garage have been cited as important enablers of female participation in technology and innovation. “We are moving towards creating homegrown intellectual property and experiences that can travel internationally while remaining connected to local identity. That shift is incredibly exciting to be part of,” says Sara Bou-Holaigah , who leads cultural innovation and immersive storytelling at a Public Investment Fund–backed firm and develops experiential technologies for destination tourism. Public measures and international rankings have reinforced the narrative of progress. In April, the 2026 AI Index Report from the Stanford Institute for Human-Centered Artificial Intelligence placed Saudi Arabia first globally in AI security, privacy and cryptography, and first for the empowerment of women in AI and female representation among AI inventors and authors — a result Princess Maha described as a “seismic statement about what this country has built.” Despite advances, leaders point to gaps that remain. “We are seeing women at both ends of the ecosystem — at the helm as CEOs, policymakers, investors and strategic advisers, while also driving innovation from the ground up as AI specialists, developers, entrepreneurs and cybersecurity experts,” says Summer Nasief , co‑founder and chief AI strategist at PurePerformance and one of the first women to lead an industry division at IBM in the Kingdom. Nasief argues that visibility must translate into authority: “Real structural change happens when women are entrusted not only with participation, but authority as well — when they are making difficult decisions, managing scale and leading long‑term strategy.” Outlook: With national programs, major corporate investments and measurable talent pipelines converging, Saudi women are positioned to move from notable representation to institutional leadership. For many involved, the goal is clear: to normalize female leadership in technology so that “a Saudi woman leading in technology is no longer viewed as exceptional — it simply becomes normal,” Nasief says, as the Kingdom pursues the next phase of its digital transformation under Vision 2030. --- ## UAE remains MENA's most-funded startup ecosystem in May 2026, attracting $379 million across 15 deals URL: https://startupsmena.com/uae-remains-menas-most-funded-startup-ecosystem-in-may-2026-attracting-379-million-across-15-deals-mq8yvrnh Date: 2026-06-11 Category: funding Tags: uae, logistics, funding, trukker, fintech **Summary:** The UAE led MENA funding in May 2026, raising $379M across 15 deals driven largely by Trukker’s $300M debt financing; region-wide startups raised $454.7M across 33 deals with heavy participation from debt and later-stage rounds. UAE remains MENA's most-funded startup ecosystem in May 2026, attracting $379 million across 15 deals The United Arab Emirates retained its position as the MENA region's most-funded startup ecosystem in May 2026, drawing $379 million across 15 deals, with Trukker ’s $300 million debt financing dominating activity in the country. Across the region, startups raised $454.7 million across 33 deals in May, a 202 percent month-on-month increase and a 76 percent rise compared with May 2025. "Five months into 2026, MENA startups have raised approximately $1.5 billion, demonstrating the resilience of the region's entrepreneurial ecosystem despite ongoing geopolitical and macroeconomic challenges," the report noted. Debt instruments were central to the uptick in capital deployed. Debt financing accounted for roughly 66 percent of total funding in May — $300.5 million across two transactions — with Trukker’s large debt package representing nearly 80 percent of capital raised in the UAE for the month. Even excluding debt, the market saw more capital and a higher deal count than in April, signalling a modest revival in investor activity. Sector and stage breakdown Logistics: $300 million (largely from Trukker), making logistics the top sector by capital and representing nearly two-thirds of May’s total funding. Fintech: $105.7 million across five deals, ranking second by capital deployed. HRtech: $17.5 million across two transactions. SaaS: Most active sector by deal count with seven deals totalling $1.8 million. Later-stage interest: Two Series B rounds raised a combined $68.4 million. Early-stage activity: 21 startups at pre-seed, seed and Series A stages secured $52.2 million. Geographically, Saudi Arabia placed second in May with $70 million raised across 11 deals, a 167 percent increase in funding value compared with April. Egypt followed with three startups raising a combined $5 million, underscoring ongoing — if muted — activity in one of the region’s deeper entrepreneurial markets. Investor preferences and diversity metrics Business-focused startups attracted the lion’s share of capital, receiving $371.5 million across 24 deals, while consumer-focused companies raised $85.7 million through six transactions. Funding distribution by founder gender showed a pronounced imbalance: companies founded solely by men secured $442 million across 28 deals; only two women-founded startups raised a combined $200,000 during the month; mixed-gender founding teams attracted about $12 million across three deals. While month-on-month capital deployment climbed, the report also highlighted a year-on-year drop in deal count — down 57 percent compared with May 2025 — indicating that investors are concentrating capital into larger transactions and exercising selectivity amid regional uncertainty. Outlook: With roughly $1.5 billion invested in the first five months of 2026, the region’s funding environment is showing signs of resilience. Continued concentration in larger debt and later-stage rounds suggests investors remain willing to back established growth stories, even as overall deal volumes lag behind last year’s levels. --- ## Egypt’s largest bank buys stake in MNT-Halan as valuation reaches $1.4 billion URL: https://startupsmena.com/egypts-largest-bank-buys-stake-in-mnt-halan-as-valuation-reaches-14-billion-mq8thuae Date: 2026-06-11 Category: fintech Tags: egypt, fintech, funding, expansion, acquisition, mnt-halan, al-ahly-capital **Summary:** Egyptian fintech MNT-Halan has raised a new investment led by Al Ahly Capital that lifts its valuation to $1.4 billion as the company accelerates regional expansion and acquisitions across MENA. Egyptian fintech MNT-Halan has secured investment from Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE), valuing the company at $1.4 billion — a roughly 40% increase from its valuation when it became Egypt’s first fintech unicorn in 2023. The deal marks the first time a commercial bank has taken an ownership stake in MNT-Halan and arrives as the company steps up regional expansion across the Middle East and North Africa. “I am extremely happy to have Al Ahly Capital, the investment subsidiary of Egypt’s largest bank, as a shareholder in the company. While we have partnered with more than 30 Egyptian banks, this is the first time a banking institution has become an equity partner in our journey, making this a particularly important milestone for us,” Mounir Nakhla , founder of MNT-Halan, said in a statement. “Together, we will redefine access to financial services for small and micro businesses, as well as people living in remote towns and villages across Egypt who have historically been underserved.” The first closing of the new funding round was led by Al Ahly Capital and lifts the firm’s valuation to $1.4 billion. Founded in 2018 by Mounir Nakhla, MNT-Halan began as a ride-hailing and logistics platform and has since broadened into one of the region’s largest non-bank financial services providers. The company reports having disbursed more than $15.5 billion in financing since launch and serving over 8 million customers globally. Strategic acquisitions in 2024 accelerated regional reach: MNT-Halan acquired Advans Pakistan Microfinance Bank and Turkish commercial finance company Tam Finans. The Turkish acquisition added a loan portfolio of roughly $300 million, while the Pakistan purchase provided access to a regulated banking licence focused on micro and small enterprises. Geographic expansion included entry into the United Arab Emirates in late 2024. Capital history: MNT-Halan raised $157.5 million in 2024 to support international expansion. Growth targets: the company has previously outlined plans to grow its financing portfolio to between $4.5 billion and $5 billion by the end of 2026. The investment by Al Ahly Capital is notable beyond the valuation bump because it signals a shift in strategy for traditional lenders. Although MNT-Halan has worked with more than 30 banks and financial institutions across Egypt, the National Bank of Egypt’s investment vehicle is the first to become an equity partner rather than remain solely a collaborator. For the NBE, the deal provides direct exposure to digital consumer finance and micro-lending growth without building a new platform from scratch. Market context underlines the opportunity: data from Egypt’s Financial Regulatory Authority shows consumer finance volumes rose 57% year-on-year to EGP96.3 billion ($1.9 billion) by the end of 2025, while financing to micro, small and medium enterprises and microfinance clients grew 24% to EGP106.9 billion ($2.1 billion). These trends have helped position Egypt as a leading fintech market in the region. Outlook With Al Ahly Capital now a shareholder, MNT-Halan gains access to the balance-sheet strength and customer reach of Egypt’s largest banking group as it pursues an aggressive regional scaling strategy. Analysts have linked the company to potential public listing plans as it consolidates acquisitions and works toward its $4.5–$5 billion financing portfolio target. The deal underscores a broader industry pivot: incumbent banks increasingly prefer buying stakes in digital lenders to competing directly, accelerating collaboration between traditional finance and fintech across the region. --- ## The Downturn Playbook: How Gulf Brands Turn 2026's Uncertainty Into Years of Advantage URL: https://startupsmena.com/the-downturn-playbook-how-gulf-brands-turn-2026s-uncertainty-into-years-of-advantage-mq8td56x Date: 2026-06-11 Category: saas Tags: uae, marketing, downturn, adengage, pancham-sn-bannerrjee, digital-transformation **Summary:** AdEngage, a Dubai-based business growth and technology firm, is advising Gulf brands to reallocate marketing spend toward resident and regional audiences during the 2026 slowdown. Its founder and CEO, Pancham SN Bannerrjee, recommends investing in first-party data, offline inventory and digital infrastructure to convert cheaper attention into long-term market share. DUBAI — Gulf brands are quietly rewiring their marketing strategies to use the 2026 slowdown as a strategic advantage, industry advisers say, after early-year shifts in consumer behaviour and travel demand exposed new opportunities. Dubai Airports recorded a 20 percent fall in passenger traffic in Q1 2026, while an analysis of 100 UAE hotels found primary revenue fell 38 percent and total revenue fell 29 percent, a dynamic that shifted spend toward resident demand and away from tourist-driven channels. "A slowdown is a crisis wearing the disguise of an opportunity," said Pancham SN Bannerrjee , Founder and CEO of AdEngage L.L.C-FZ . "The next decade in the UAE is being decided right now, by the few who stop asking how to survive this and start asking one question only: where exactly do we attack." The comments come as marketing firms and corporate leaders reassess the orthodox response to downturns — across the Gulf Cooperation Council markets including the UAE, Saudi Arabia, Qatar, Bahrain and Kuwait — where many brands reflexively cut advertising budgets. AdEngage, a business growth and technology company founded in 2010, argues that the real costliest decision this year will be the one taken in a budget meeting that slashes marketing and cedes attention to competitors. AdEngage's framework recommends shifting scarce marketing pounds to channels and audiences that remain robust: residents, repeat buyers and regional Gulf customers, guided by first-party data rather than price-driven promotions. The firm contends that when multiple advertisers retreat, the market price of attention falls, creating a short window for challengers to increase share of voice cheaply and displace larger incumbents. Move budgets toward resident demand and regional Gulf audiences, supported by first-party data. Purchase offline inventory — outdoor, retail and events — that rivals vacate during the downturn. Own online discovery via search-engine and answer-engine optimisation, and convert with performance and programmatic advertising. Invest in the digital backbone — website, CRM and automation — so lower-cost impressions compound into revenue as markets recover. AdEngage has reportedly mapped which categories have gone quiet across the Emirates and neighbouring GCC states, identifying where market share is exposed and how much voice it takes to move ahead. The firm's public materials stress that the advantage from discounted attention is temporary: "That discount on attention lasts only as long as competitors stay nervous," the release notes, warning that the Gulf historically recovers rapidly and that bidding for attention will reset once confidence returns. The playbook reflects tangible consumer shifts observed across the region: households becoming more deliberate and value-led, with spending moving toward essentials and trusted brands rather than purely price-led promotions. In the UAE example from the hotel analysis, resident demand cushioned overall revenue declines, underscoring that loyalty and credibility can blunt the worst impacts of softer tourist flows. Outlook For marketers and executives in the Gulf, the immediate test is operational: convert reduced-cost attention into sustainable customer relationships before competitors resume full spending. Firms that retain share of voice and bolster their direct-to-customer infrastructure — websites, CRMs and automation — stand to convert temporary visibility into long-term advantage when the region's recovery accelerates. Contact details provided for AdEngage list Pancham SN Bannerrjee at mediarelations@adengage.digital and +971 545666253 for companies seeking the firm's assessment of category-level opportunities. --- ## Abu Dhabi continues to attract startup founders despite war URL: https://startupsmena.com/abu-dhabi-continues-to-attract-startup-founders-despite-war-mq8mllbw Date: 2026-06-10 Category: funding Tags: uae, funding, ai, hub71, mubadala **Summary:** Abu Dhabi’s Hub71 recruited 27 international startups into its year-long programme offering cash and investor introductions in exchange for options on future equity. Despite regional conflict, the cohort remained intact and organisers report renewed investor engagement and continued fundraising activity. Abu Dhabi’s entrepreneurial hub Hub71 , backed by sovereign wealth fund Mubadala Investment Company, drew 27 international startups into its most recent year-long program despite regional conflict that rattled markets. The program offered participating founders cash and investor introductions in exchange for the option of future equity; all 27 companies are based outside the UAE and, organisers say, not one has dropped out amid fallout from the Iran war. “Investors basically ghosted,” said one founder developing AI for the energy industry, who asked not to be identified, describing the immediate impact of the war on his pending financing. He added that regional backers have resumed contact in recent weeks and he now expects to close a $5 million round in September. Organisers had braced for a subdued annual gathering for the seven-year-old Hub71, but the event drew hundreds of attendees — entrepreneurs, investors, academics and corporate representatives — and a decidedly upbeat atmosphere, complete with poke bowls and mango popsicles. One founder attended wearing a T-shirt reading that he was fundraising and “accepting free shawarma,” a detail cited by the event reporter as emblematic of the day’s energy. Hub71’s CEO Ahmad Ali Alwan framed the hub’s progress in investor-education terms, saying Abu Dhabi has helped investors “expand their horizons beyond San Francisco.” That international orientation is reflected in Hub71’s partnerships: some 50 family offices from the Middle East have linked with the hub, seeking both potential investments and innovations that might benefit their broader portfolios. Startups recruited into Hub71’s programme target a range of regional priorities — financial inclusion, food security and longevity — areas central to the UAE’s strategy to redress technology import dependency by building more capabilities domestically. The timing of new deals has been uneven: while some entrepreneurs reported silence from investors in the immediate aftermath of the conflict, conversations have begun to restart, and a handful of financings are expected to close later in the year. Programme intake: 27 startups, all from outside the UAE Offer: cash and investor introductions in exchange for option on future equity Investor engagement: about 50 Middle East family offices partnered with Hub71 Recent performance: Hub71-based startups raised $599 million and generated $176 million in revenue in 2025 (reported by Fast Company Middle East) The wider Gulf venture ecosystem has shown resilience even as global venture funding has contracted. While a comprehensive picture of the war’s impact on company valuations and funding flows is still emerging, Hub71’s event and its intact cohort suggest a degree of confidence among founders and regional investors. Looking ahead, organizers and founders are watching the coming months for follow-through from tentative investor re-engagement. If anticipated rounds like the energy-focused founder’s $5 million close in September materialize, they could signal that regional capital is returning to startups affected by geopolitical disruption. For now, Hub71’s mix of international founders, family office ties and recent fundraising and revenue figures point to Abu Dhabi maintaining momentum as it seeks to cultivate a more locally built technology sector. --- ## Hub71 Startups Surpass $2.7 Billion in Funding as Abu Dhabi Gains Momentum as a Global TechHub URL: https://startupsmena.com/hub71-startups-surpass-27-billion-in-funding-as-abu-dhabi-gains-momentum-as-a-global-techhub-middle--mq885qqm Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Home Business News Hub71 Startups Surpass $2.7 Billion in Funding as Abu Dhabi Gains Momentum... ... Startup revenue reaches $1.5 billion (AED 5.4 billion), reflecting Abu Dhabi’s growing appeal for f Hub71’s startup community has crossed a major funding and commercial milestone: companies within the Abu Dhabi ecosystem have raised more than $2.7 billion (AED 9.9 billion) in capital and generated $1.5 billion (AED 5.4 billion) in revenue by the end of 2025, the ecosystem reported in its 2025 Impact Report. In 2025 alone, Hub71 startups secured $599 million (AED 2.2 billion) in funding and produced $175 million (AED 645 million) in revenue. The community has expanded to 390 startups, 295 of which are supported through Hub71 programmes, and the platform received more than 5,000 founder applications in 2025 — a 62% year‑on‑year increase — while welcoming 52 new startups into the community. "Hub71’s performance reflects the sustained progress Abu Dhabi is achieving in building a more competitive, innovation-led economy. Startups are contributing to investment and long-term growth, while strengthening the emirate’s position as a place where ambitious technology companies can build, scale and compete globally,” said H.E. Ahmed Jasim Al Zaabi, Chairman of Hub71 and the Abu Dhabi Department of Economic Development (ADDED). The report highlights growing commercial traction beyond fundraising. Hub71 startups signed corporate deals totalling $244 million (AED 897 million) between 2022 and 2025, including $37 million (AED 137 million) in 2025 alone, underscoring increasing uptake by corporates and partners. The ecosystem also broadened its thematic focus in 2025 by launching Hub71+ Life Sciences, joining existing verticals Hub71+ AI, Hub71+ ClimateTech and Hub71+ Digital Assets to support founders working across healthcare innovation, biotechnology and other advanced life sciences areas. Key figures and strategic moves Total funding raised by Hub71 startups by end-2025: more than $2.7 billion (AED 9.9 billion). Total startup revenue by end-2025: $1.5 billion (AED 5.4 billion); 2025 revenue: $175 million (AED 645 million). 2025 fundraising: $599 million (AED 2.2 billion). Community size: 390 startups, with 295 supported through Hub71 programmes. Founder interest: 5,000+ applications in 2025, a 62% increase year-on-year; 52 startups onboarded. Corporate deals secured 2022–2025: $244 million (AED 897 million), including $37 million in 2025. Backers and partners: Government of Abu Dhabi and Mubadala Investment Company. Hub71 also pushed its international strategy in 2025, deepening engagement with venture capital firms, corporates and government partners across markets including Hong Kong, Japan, Portugal, India, Ireland and the United States. To attract and support overseas high-growth companies, the ecosystem launched an Immersion Programme that brought cohorts from Hong Kong and Japan to Abu Dhabi for market-entry support, regulatory engagement and commercialisation assistance through partnerships with HSITP, Cyberport, MTR Lab and JETRO. Ahmad Ali Alwan, Chief Executive Officer of Hub71, said: "The growth of our community reflects the increasing appeal of Abu Dhabi as a destination for founders, the calibre and ambition of the entrepreneurs at Hub71, and the strength of the ecosystem partners supporting them." Looking ahead, Hub71’s mix of capital access, corporate linkages and targeted vertical initiatives aims to sustain momentum for startups seeking regional and global scale. With government and Mubadala support underpinning incentives and infrastructure, the ecosystem is positioning itself to continue attracting founders, investors and technology companies that are targeting markets across the Middle East, Asia and Africa. --- ## Dubai remains a magnet for global entrepreneurs as billionaire backs emirate’s business appeal URL: https://startupsmena.com/dubai-remains-a-magnet-for-global-entrepreneurs-as-billionaire-backs-emirates-business-appeal-mq83m7cb Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** That sentiment was echoed by billionaire investor and Shark Tank star Kevin O’Leary during an in-depth conversation with Dubai-based entrepreneur Pratham Mittal, founder of Tetr College of Business, w Dubai’s appeal to global founders and investors was underlined this week when billionaire investor and Shark Tank star Kevin O’Leary said the emirate would be his preferred choice if he were starting a new business today. O’Leary made the remark during an in-depth conversation with Dubai-based entrepreneur Pratham Mittal, founder of Tetr College of Business, a session that ranged across entrepreneurship, artificial intelligence, startup success and the policy environment that underpins business growth in the city. The comments come as Dubai Chamber of Commerce recorded 30,697 membership renewals in April 2026 — the highest monthly total in its history — a figure officials say reflects sustained business confidence. “If I was given the option, I’d start a business in Dubai,” O’Leary said during the conversation, citing the city’s strategic location, international connectivity and ability to serve multiple markets from a single hub. Discussion highlights Policy responsiveness: Mittal described a recent meeting with His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, where entrepreneurs were asked what policy changes would help them double the size of their businesses. Several recommendations were reportedly implemented within days. Leadership praised: O’Leary called that rapid response an example of “enlightened leadership,” highlighting the speed with which policymakers engage with and respond to the needs of the business community. Startup realism: The discussion emphasised that while most startups fail, long-term success depends on execution, clear customer demand and robust business fundamentals rather than hype. AI and caution: On artificial intelligence, O’Leary warned against overreliance on technology alone and criticised what he called the rise of “AI slop,” arguing that technology must be accompanied by disciplined decision-making and sound strategy. Founders’ lessons: O’Leary drew lessons from high-profile entrepreneurs such as Steve Jobs and Elon Musk when discussing financial independence, wealth creation and career development. Pratham Mittal’s role as host brought a local founder’s perspective to the conversation, placing operational and regulatory detail alongside global investor insights. The record membership renewals reported by Dubai Chamber in April 2026 were cited as tangible evidence of continued investor and entrepreneur confidence, a metric industry leaders say reflects competitive advantages around market access, connectivity and a policy environment that supports investment, innovation and long-term business growth. Outlook As competition for talent, capital and innovation intensifies globally, the discussion between O’Leary and Mittal underscored Dubai’s positioning as a convening point for global business leaders, founders and investors. With the emirate framing itself as a hub where businesses can be built and scaled to serve multiple markets, the combination of strategic geography, regulatory agility and visible policymaker engagement is likely to remain a central part of the pitch to international entrepreneurs—especially those weighing where to establish their next venture. --- ## Hub71 startups in abu dhabi raise over 2 7 billion since 2019, ETStartup URL: https://startupsmena.com/hub71-startups-in-abu-dhabi-raise-over-2-7-billion-since-2019-etstartup-mq833kbi Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Hub71 launched sector-focused initiatives like Hub71+ Life Sciences in 2025. Startups within Abu Dhabi’s Hub71 technology ecosystem have raised over $2.7 billion and generated $1.5 billion in revenue Startups within Abu Dhabi’s Hub71 ecosystem have raised more than $2.7 billion and generated $1.5 billion in cumulative revenue since the platform launched in 2019, the organisation’s 2025 impact figures show. In 2025 alone, companies in the community secured $599 million in funding and produced $175 million in revenue, while the Hub71 network grew to 390 startups and more than 200 partners. Leadership reaction “Hub71’s performance reflects the sustained progress Abu Dhabi is achieving in building a more competitive, innovation-led economy,” said Ahmed Jasim Al Zaabi, chairman of Hub71 and the Abu Dhabi Department of Economic Development. Hub71 chief executive Ahmad Ali Alwan added that “the growth of the community reflects the increasing appeal of Abu Dhabi as a destination for founders and the ambition of the entrepreneurs at Hub71.” Context and details Community scale: Hub71’s community expanded to 390 startups, of which 295 companies have been supported through its programmes that connect founders with investors, corporate partners, regulators and talent. Applications and admissions: Founder interest rose sharply in 2025, with the platform receiving more than 5,000 applications — a 62% increase year-on-year — and admitting 52 startups during the year. Corporate commercial traction: Startups in the ecosystem signed corporate deals valued at $244 million between 2022 and 2025, including $37 million in agreements concluded in 2025. Sector-focused expansion: In 2025 Hub71 launched Hub71+ Life Sciences to support healthcare innovation, biotechnology and advanced life sciences, joining existing verticals Hub71+ AI, Hub71+ ClimateTech and Hub71+ Digital Assets. International partnerships and immersion: Hub71 strengthened ties with markets including Hong Kong, Japan, Portugal, India, Ireland and the United States, and introduced an Immersion Programme to help high-potential international startups establish operations in Abu Dhabi. Cohorts arrived from Hong Kong and Japan through partnerships with the Hong Kong Science and Technology Parks Corporation (HKSTP), Cyberport, MTR Lab and the Japan External Trade Organization (JETRO). Outlook Hub71’s reported totals and international initiatives underline Abu Dhabi’s push to attract capital, market access and talent to scale technology companies from the emirate into the wider Middle East, Asia and Africa. With $599 million raised in 2025 alone and a pipeline of more than 5,000 applications, Hub71’s strategy of sector-specific platforms and targeted immersion programmes aims to convert inbound interest into sustained commercial growth and further fundraising rounds for its community. --- ## Hub71 CEO highlights Abu Dhabi’s long-term vision, innovation ecosystem URL: https://startupsmena.com/hub71-ceo-highlights-abu-dhabis-long-term-vision-innovation-ecosystem-mq837dxl Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** He noted that entrepreneurs in Abu Dhabi benefit not only from access to capital, talent and markets, but also from a supportive community and ecosystem committed to their success. “The reality is tha Ahmad Ali Alwan, CEO of Hub71, set out a clear case for Abu Dhabi’s long-term economic strategy and its role in nurturing startups as he opened the Hub71 Impact event in the emirate. Alwan highlighted long-term thinking, resilience and innovation as pillars for sustainable growth, praising leadership for “building an economy capable of attracting talent, mobilising capital and creating an environment where innovation can flourish.” He framed Abu Dhabi’s development as a deliberate commitment to invest ahead of demand and to create the conditions that allow founders to build enduring companies. “The reality is that great startups are rarely built alone,” Alwan said, underscoring the value of community and ecosystem support for entrepreneurs. Addressing the event theme, Impact Defined, Alwan argued that periods of uncertainty sharpen priorities for founders and ecosystem players. “Moments like these have a way of clarifying what matters. They remind us that lasting success is built through patience, trust and the determination to keep moving forward,” he said, connecting the city’s long‑term public investment approach with the mindset required from founders. Context and details Alwan traced Abu Dhabi’s transformation from a resource-rich territory into an economy designed with the future in mind. “The people who built this nation thought in generations rather than seasons. They were patient when patience was the harder choice, and they invested in foundations that would outlast them,” he said. He added that this philosophy—“building for the long term”—links the generation that transformed the desert into a nation, institutions that converted natural wealth into long-term prosperity, and the founders now converting ideas into companies. At Hub71, Alwan said the evidence of the emirate’s appeal is visible every day: founders arrive from different backgrounds, sectors and regions with a shared ambition “to create something meaningful and enduring.” He highlighted the practical advantages available to entrepreneurs in Abu Dhabi—access to capital, talent and markets—while stressing that these are amplified by a supportive community and ecosystem intentionally structured to help companies scale. Event theme: Impact Defined, focusing on resilience and long-term value creation. Key strengths cited: access to capital, talent, markets and a supportive community. Principle emphasised: invest and build ahead of demand; patience and long-term planning. Participants brought together: founders, scale-ups, corporates, investors and students. Alwan characterized resilience as the capacity to keep creating value despite setbacks, built on “strong foundations, long-term commitment and a shared belief in the future.” He closed by pointing to the collective goal showcased at the event: building businesses, creating opportunities and solving real-world problems. “That is what impact looks like. That is impact defined,” he said, signalling Hub71’s continued focus on positioning Abu Dhabi as a destination where long-range public strategy and founder ambition converge to produce lasting startups and scale-ups. --- ## Co-founder Shivani Pandya Malhotra’s Ta Films focuses on Saudi URL: https://startupsmena.com/co-founder-shivani-pandya-malhotras-ta-films-focuses-on-saudi-mq82zijp Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** DUBAI: An upcoming feature by an emerging Saudi Arabia filmmaker is among a slate of new projects being developed by Dubai-based production company Ta Films, as it expands its presence in the regional DUBAI: Dubai-based production company Ta Films has announced a slate of new projects that places Saudi filmmaking at the centre of its expansion plans, led by co-founder Shivani Pandya Malhotra. The company will begin production later this year on Drowning, a working title for the debut feature from Saudi director Mujtaba Saeed. The film has already secured backing from the Red Sea Film Fund and the Ithra Film Fund and will be produced by Jordanian filmmaker Nadia Eliewat, who also co-wrote and produced the Yemen-set drama The Station. “Production has always been where my passion began,” Pandya Malhotra said in a recently released statement. “Over the past 20 years, I have been fortunate to contribute to the growth of the film industry across the Middle East, supporting filmmakers, storytellers and emerging creative voices.” Ta Films, founded in 2022 by Pandya Malhotra and Sangeeta Desai, is led operationally by Nadia Eliewat as CEO and creative director. The company strengthened its production infrastructure last year through the acquisition of Eliewat’s Screen Project banner, and is leveraging that capacity as it develops multiple features. The move follows the Cannes Film Festival success of The Station, a title that has helped elevate the company’s profile in regional and international festival circuits. The upcoming Drowning follows a man determined to see his father’s killer punished, who finds himself dragging a young boy into the same cycle of crime and corruption he is trying to escape. The project’s support from the Red Sea Film Fund and the Ithra Film Fund highlights continued institutional investment in Saudi and regional talent. Eliewat, who produced and co-wrote The Station, will produce Drowning, tying the new project to Ta Films’ recent creative successes. Projects and partnerships Drowning (working title) — debut feature by Saudi director Mujtaba Saeed; backed by Red Sea Film Fund and Ithra Film Fund; produced by Nadia Eliewat. Feature in partnership with MBC Group — in development, details forthcoming. The Station — Yemen-set drama produced and co-written by Nadia Eliewat; noted for its screenings at Cannes. Pandya Malhotra has increased her involvement with Ta Films after recently stepping down from her role at Saudi Arabia’s Red Sea Film Foundation, where she helped guide the Red Sea International Film Festival through its formative years. Her return to a more hands-on production role is aligned with the company’s stated ambition to expand its network of creative partnerships across the Middle East, North Africa and South Asia. “The success of ‘The Station’ has reinforced our belief in the power of authentic storytelling and the extraordinary talent emerging from this region,” Pandya Malhotra added, framing Ta Films’ next phase around festival-calibre narratives and cross-border collaborations. With production on Drowning slated for later this year and a separate feature in development with MBC Group, Ta Films is positioning itself as an active producer of regional cinema, combining institutional fund support with creative leadership under Eliewat and strategic direction from its founders. --- ## This Microsoft-backed startup wants to rival Nvidia in AI chips: Meet its Indian-American founders URL: https://startupsmena.com/this-microsoft-backed-startup-wants-to-rival-nvidia-in-ai-chips-meet-its-indian-american-founders-mq82v5m4 Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Since its launch, the company has raised roughly $500 million and is currently valued at around $2 billion. The startup has already begun shipping its chips to selected customers, including hyperscale D-Matrix, a California-based startup co-founded in 2019 by Indian-American entrepreneurs Sid Sheth and Sudeep Bhoja, is positioning itself as an alternative to dominant GPU vendors in AI inference. Backed by Microsoft’s venture arm M12, the company has raised roughly $500 million and is currently valued at about $2 billion. D-Matrix has begun shipping its flagship SRAM-based inference chip, Corsair, to selected customers — including hyperscalers, neoclouds and frontier AI labs — with most early adopters in the United States and others in the Middle East and Southeast Asia. “We’re not running into a chokepoint around DRAM with our product because our product doesn’t really rely on DRAM to be successful,” Sid Sheth said, describing the architectural difference D-Matrix believes gives Corsair an edge on latency and energy efficiency. Context and technical approach D-Matrix’s strategy centers on inference workloads that demand low latency and smooth user interactions — chatbots, voice agents and AI coding assistants — rather than the large-scale training workloads that have driven GPU adoption. Corsair’s architecture uses on-chip SRAM to keep memory and compute closer together, a design the company says reduces data movement and power draw compared with conventional GPU-plus-DRAM approaches. The company cites independent research by Gimlet Labs showing that Corsair, when deployed alongside Nvidia’s Blackwell GPUs, can run AI inference workloads up to 10 times faster, at one-third the cost and with as much as five times greater energy efficiency than a standalone GPU. Corsair is manufactured by Taiwan Semiconductor Manufacturing Company (TSMC) on a 6-nanometre node. D-Matrix plans a next-generation product, Raptor, on TSMC’s 4-nanometre process expected next year. Founders: Sid Sheth (CEO) and Sudeep Bhoja (CTO) Founded: 2019 Capital raised: roughly $500 million Valuation: around $2 billion Manufacturing: TSMC 6nm (Corsair); Raptor planned on 4nm Partners: Broadcom, Arista Networks, Super Micro Computer (SquadRack rack-scale systems) Sheth, a veteran semiconductor executive who previously led the Networking Business Unit at Inphi Corporation — helping grow it to more than $1 billion in revenue — and CTO Sudeep Bhoja, former CTO of Inphi’s Datacenter Business Unit with prior roles at Broadcom, are also building an ecosystem beyond individual chips. D-Matrix is working with Broadcom, Arista Networks and Super Micro Computer on larger rack-scale systems it calls SquadRack for AI data center deployment. Outlook and challenges Industry observers note the trade-offs of SRAM-centric designs. Rick Bahr, adjunct professor of electrical engineering at Stanford University, warned that SRAM-based chips may struggle to support the largest reasoning models: “That number of parameters just simply can’t be put onto an SRAM-based design. That’s the big challenge,” he said. The comment highlights a fundamental tension: SRAM architectures can dramatically improve latency and efficiency for many inference tasks, but they face limitations when confronting trillion-parameter models that dominate frontier generative AI. D-Matrix has already started shipping Corsair and is targeting a mix of hyperscalers, neoclouds and AI labs while preparing Raptor and broader systems integration. “Building a computing solution for AI inference is going to be the grand prize,” Sheth added, framing the company’s ambition to claim a distinct role alongside incumbents rather than displace them outright. --- ## Hub71 Startups Cross $2.7B in Funding as Abu Dhabi’s Tech Ecosystem Matures URL: https://startupsmena.com/hub71-startups-cross-27b-in-funding-as-abu-dhabis-tech-ecosystem-matures-mq7qoz4a Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** A 62% rise in applications and growing revenue generation reflect Abu Dhabi’s increasing appeal as a regional launchpad for technology ventures. Abu Dhabi’s Hub71 startups have now raised more than $2.7 billion (AED9.9 billion) in external funding and generated $1.5 billion (AED5.4 billion) in revenue by the end of 2025, marking a significant step in the emirate’s effort to mature its technology ecosystem. In 2025 alone, companies within Hub71 secured $599 million (AED2.2 billion) in funding and produced $175 million (AED645 million) in revenue, while the programme received more than 5,000 startup applications — a 62% year‑on‑year increase — and admitted 52 new startups into the community. “2025 was a year of meaningful progress for Hub71’s community,” said Ahmad Ali Alwan, Chief Executive Officer of Hub71. Context and recent performance The figures highlight a shift in emphasis from sheer startup formation to scaling companies that can attract capital, sign commercial contracts and operate internationally. Between 2022 and 2025, Hub71 startups secured corporate contracts worth $244 million (AED897 million), including $37 million (AED137 million) signed during 2025 alone. These commercial wins provide a counterpoint to venture‑only metrics and are being used as a barometer for ecosystem maturity. Aggregate funding to Hub71 startups: more than $2.7 billion (AED9.9 billion) by end‑2025. Aggregate revenue generated by those startups: $1.5 billion (AED5.4 billion) by end‑2025. 2025 funding secured by Hub71 startups: $599 million (AED2.2 billion). 2025 revenue generated: $175 million (AED645 million). Startup applications in 2025: more than 5,000 (up 62% year‑on‑year); 52 admitted. Corporate contracts, 2022–2025: $244 million (AED897 million); $37 million (AED137 million) in 2025. Hub71 has broadened its international engagement in 2025, extending outreach to investors, corporates and public‑sector stakeholders across markets such as Japan, India, Ireland, Portugal, the United States and Hong Kong. To ease market entry and regulatory navigation for overseas founders, the programme introduced an Immersion Program aimed at helping startups understand local requirements and commercial opportunities in Abu Dhabi. The ecosystem has also moved toward sector specialisation. Hub71 launched Hub71+ Life Sciences to join existing platforms focused on artificial intelligence, climate technology and digital assets. This sectoral depth forms part of Abu Dhabi’s wider strategy to diversify its economy by building knowledge‑intensive clusters that can compete globally. Outlook With growing international interest, rising application volumes and increasing commercial traction, Hub71’s next phase will be measured more by revenue growth, cross‑border capital flows and the ability of resident firms to scale globally than by headline counts of new startups. The combination of an Immersion Program, sector‑specific initiatives such as Hub71+ Life Sciences, and sustained corporate contracting suggests the ecosystem is prioritising sustainable commercialisation as it seeks to position Abu Dhabi as a regional launchpad for technology ventures. --- ## Egypt’s Blnk raises $37m debt, equity funding to deepen point of sale credit for consumers URL: https://startupsmena.com/egypts-blnk-raises-37m-debt-equity-funding-to-deepen-point-of-sale-credit-for-consumers-mq7jbl4t Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Egypt’s Blnk, a fintech company on a mission to enable financial inclusion through rapid point-of-sale financing, has raised US$12.5 million in equity funding and US$24.6 million in local debt facilit Egyptian fintech Blnk has raised US$12.5 million in Series A equity alongside approximately US$24.6 million in local debt facilities to deepen point-of-sale consumer credit across Egypt. The combined package — roughly US$37 million — will be used to scale the AI-enabled digital consumer finance platform’s lending operations, expand merchant onboarding and widen access to finance for women and the underbanked. “We’re proud to have secured the backing of some of the most respected investors in the region and beyond for this round of funding. Their continued belief in our mission is a powerful endorsement of what we’re building at Blnk. This new round of funding positions us to strengthen our profitability — expanding our reach, diversifying our offerings and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond,” said Amr Sultan, CEO and co-founder of Blnk. Context and investors Founded in 2021, Blnk uses AI-driven underwriting to enable merchants to offer instant financing to customers at the point of sale. The Series A equity round was led by Algebra Ventures and saw participation from SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company (EIIC) — the Abu Dhabi-based investor that also backed Blnk’s seed round. Debt financing was raised from a consortium of local banks and non-bank financial institutions. Notable bank participants include Suez Canal Bank, Bank Albaraka and the National Bank of Egypt. Non-bank participants named in the round include Corplease, Globalcorp and BM Lease, among others. Equity raised: US$12.5 million (Series A) Local debt facilities: US$24.6 million Customer onboarding since seed: over 1 million users Loan portfolio: surpassing EGP 1 billion (about US$19.25 million) Since its seed round in November 2022, Blnk reports exponential growth: the company has onboarded more than one million customers and grown its loan portfolio past EGP 1 billion. Blnk’s technology focuses on rapid merchant onboarding and instant credit-underwriting so financing is available at the moment of purchase, a model aimed at improving financial inclusion for consumers who are unbanked or underbanked. Karim Hussein, managing partner at Algebra Ventures, said he backed the company as it prepares to move into new verticals. “Blnk’s ability to serve the underserved, particularly unbanked and underbanked consumers, while maintaining disciplined credit management, positions them as a category-defining player in Egypt’s consumer finance space,” he said. Outlook Blnk intends to deploy the fresh capital to scale operations across Egypt with a specific emphasis on expanding access to credit for women and underserved segments. The company plans to offer more flexible loan sizes and broaden the range of products and services available through its merchant network. Management frames the round as both a growth and profitability play — using equity and debt in tandem to fuel expansion while reinforcing credit discipline as it enters additional verticals and increases penetration among the underbanked. --- ## Egypt's Edafa Venture Bets Big on AI with Twin Acquisitions URL: https://startupsmena.com/egypts-edafa-venture-bets-big-on-ai-with-twin-acquisitions-mq7jf111 Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Egyptian investment firm Edafa Venture has snapped up two artificial intelligence startups — construction tech company Kuadra and health diagnostics platform IRRI Vision — in separate six-figure trans Edafa Venture acquires Kuadra and IRRI Vision in separate six-figure deals Egyptian investment firm Edafa Venture has acquired two artificial intelligence startups — construction technology company Kuadra and health diagnostics platform IRRI Vision — in separate six-figure transactions announced at the AI Everything Middle East & Africa – Egypt 2026 exhibition, organised by GITEX Global in Cairo this February. The deals mark a strategic push by Edafa to build an investment platform that backs high-potential startups and accelerates their expansion across the Middle East and Africa. Essam Aly, CEO of Edafa Venture, framed the moves as part of a larger transformation in the country’s tech sector. "The acquisitions signal a broader shift in Egypt's role within the regional tech landscape. Egypt, he argued, has moved beyond merely importing digital solutions and is now actively building and exporting technology," Aly said. "He described the exhibition as a proving ground where startup ideas met serious capital, and where the conditions were right for deals of this nature to close." What the acquisitions bring Kuadra : A construction technology company that uses AI to modernise the planning and execution of large-scale construction projects. Kuadra deploys interconnected smart operating systems designed to cut inefficiency across complex builds, a capability that appeals to developers and engineering firms aiming to streamline timelines and reduce cost overruns. IRRI Vision : A health diagnostics platform that equips doctors and healthcare providers with AI-driven diagnostic tools intended to accelerate and sharpen clinical decision-making, improving diagnostic speed and potentially patient outcomes in clinical settings. Both startups sit at the intersection of AI and industry-specific workflows — construction and healthcare — and their acquisition underscores Edafa’s focus on applied artificial intelligence rather than consumer-facing apps. By targeting companies that embed AI into operational systems, Edafa is positioning itself to capitalise on productivity gains and service improvements in sectors with significant scale across the region. The timing and venue of the announcements — the AI Everything Middle East & Africa – Egypt 2026 exhibition organised by GITEX Global — were notable. Aly described the show as the place where "startup ideas met serious capital," suggesting that the event provided a concentrated marketplace for deal-making and investor-startup engagement. The dual purchases at a single event underline how conferences and exhibitions are increasingly functioning as transaction venues, not just networking opportunities. Outlook Edafa’s twin acquisitions signal a deliberate strategy to assemble a portfolio of AI-enabled firms that can be scaled across the Middle East and Africa. With backing and integration support from an investor like Edafa, Kuadra and IRRI Vision may accelerate product development, expand commercial partnerships, and enter new regional markets. For Egypt’s tech ecosystem, the deals bolster a narrative that the country is moving from adoption to origination — developing homegrown technologies intended for export across neighbouring markets. As the region’s appetite for AI-powered efficiency and diagnostic tools grows, the coming months will show whether Edafa’s investment platform can convert these six-figure transactions into broader commercial traction and cross-border expansion for the two startups. --- ## Riyadh Air’s first revenue flight brought forward by three weeks URL: https://startupsmena.com/riyadh-airs-first-revenue-flight-brought-forward-by-three-weeks-mq7j3mv6 Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Riyadh Air will begin revenue flights earlier than planned, with London Heathrow moving forward to 10 June as its initial Boeing 787-9 network takes shape. ... Sign up for our newsletter and get our l Riyadh Air has moved up the start of its revenue operations by three weeks, scheduling its first paying service to London Heathrow for 10 June 2026 instead of the previously announced 1 July. The Saudi start-up also inducted a third Boeing 787-9 into the fleet this week and has put multiple routes on sale with confirmed launch dates across June and July as its initial network takes shape. "The airline intends to connect Riyadh with 22 destinations in the next nine months," said Tony Douglas, CEO of Riyadh Air, speaking at the ceremony that marked the arrival of the carrier's first owned Dreamliner. Fleet deliveries and early operations Riyadh Air has been operating non-revenue flights to London for several months — reserved for airline employees and guests — using a leased Oman Air Boeing 787 to validate operations ahead of revenue service. The airline officially welcomed its first owned Dreamliner at a ceremony in Riyadh after the simultaneous delivery of two 787-9s that met up in flight and touched down on the morning of 4 June, accompanied by the Saudi Hawk display team of the Royal Saudi Air Force. Two days later, on 6 June, a third Boeing 787-9, registration HZ-RXAC, departed Everett and landed in Jeddah, which is planned as Riyadh Air’s first domestic destination. The carrier expects three additional aircraft deliveries by the end of June and two in July. From August, the airline plans to receive one aircraft per month through the end of 2026. Initial route network and schedules Riyadh – London Heathrow: launch 10 June 2026 — daily, Boeing 787-9 (launch moved forward from 1 July) Riyadh – Jeddah: launch 14 June 2026 — 2 daily rising to 3 daily from 18 June and 4 daily from 2 July, Boeing 787-9 Riyadh – Dubai: launch 18 June 2026 — daily, Boeing 787-9 Riyadh – Cairo: launch 25 June 2026 — daily, Boeing 787-9 Riyadh – Madrid: launch 17 July 2026 — four times weekly, Boeing 787-9 Riyadh – Manchester: launch 23 July 2026 — three times weekly, Boeing 787-9 The airline has placed these initial six routes on sale and indicated that the network will be augmented with additional destinations before year-end. Early movements to sell tickets and accelerate launch dates signal an aggressive start as Riyadh Air builds out from its Boeing 787-9 fleet. Outlook and short-term challenges Riyadh Air's accelerated launch comes as wider industry pressures persist. Fuel prices have risen and disruptions in Middle East airspace are adding cost and complexity to flight planning — headwinds for any new long-haul carrier. Observers note the inaugural route map resembles a point-to-point network rather than the east–west connecting hub Riyadh aims to become, underlining the need for rapid network growth if the airline is to scale into a major connecting carrier. For now, the carrier’s immediate priorities are fleet delivery momentum and executing the early wave of services beginning in June and July, while integrating its new Dreamliners and ramping up frequencies on domestic and regional routes. --- ## Riyadh Air Receives Third Boeing 787 As London Launch Is Brought Forward; New Destinations Unveiled URL: https://startupsmena.com/riyadh-air-receives-third-boeing-787-as-london-launch-is-brought-forward-new-destinations-unveiled-mq7j7y41 Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** For Riyadh Air, London also represents an immediate opportunity to showcase its product against some of the world’s most established airlines, including British Airways, Virgin Atlantic and Saudia. Un Riyadh Air has taken another tangible step toward full commercial operations with the arrival of its third factory‑built Boeing 787‑9 Dreamliner, registered HZ‑RXAC, on June 6, 2026, into Jeddah. The carrier has also moved up the public launch of its flagship London Heathrow service to June 10, 2026 (previously scheduled for July 1), opened bookings for the route and confirmed early network plans that include Cairo, Dubai, Jeddah, Madrid and Manchester as part of an initial expansion ahead of a longer‑term target of more than 100 destinations by 2030. "Best Offer Guarantee," the airline has said, as part of measures to encourage direct bookings through its channels and the Sfeer loyalty programme. Fleet and product The third 787‑9 joins two other custom‑built Dreamliners delivered earlier in June and marks early progress toward a planned long‑haul fleet that Riyadh Air says could grow to as many as 72 Boeing 787s. The aircraft arrived from Boeing’s Everett production site and will help the startup transition from certification and proving flights into scheduled passenger service. Riyadh Air is positioning the Dreamliner as the backbone of its long‑haul strategy and will deploy the type on the London route. The carrier has laid out a four‑cabin configuration on the 787‑9: Business Elite, Business Class, Premium Economy and Economy. Business Elite features sliding privacy doors, 32‑inch 4K entertainment screens, fully flat beds and select centre suites that can convert into double beds. Business Class offers direct aisle access and fully flat seating, while Premium Economy is presented as a substantive upgrade with wider seats and enhanced dining. Onboard technology and amenities include Panasonic Avionics’ Astrova in‑flight entertainment system offering more than 500 movies, 600 TV series and 1,000 audio albums and playlists, plus 'mobile‑first' connectivity, wireless Bluetooth listening and USB‑C charging. Riyadh Air will supply Saudi‑made Kayanee in‑flight products, bespoke Disney amenity kits for children, John Horsfall bedding and a branded wellness programme. Complimentary Wi‑Fi will be available for Sfeer members. Network and early schedule London Heathrow has been framed as Riyadh Air’s first major international destination and a strategic corridor between two G20 capitals. The carrier had already been operating non‑public flights to London Terminal 4 since late 2025 for employees of the airline and its owner, the Public Investment Fund. June 10, 2026: London Heathrow commercial launch (public bookings open; Business Class on the inaugural flight is blocked or sold out; Economy and Premium Economy still available) June 14, 2026 onwards: 2x daily Riyadh–Jeddah June 18, 2026 onwards: 1x daily Riyadh–Dubai June 25, 2026 onwards: 1x daily Riyadh–Cairo July 17, 2026 onwards: 3x weekly Riyadh–Madrid August 23, 2026 onwards: 3x weekly Riyadh–Manchester Outlook Riyadh Air’s immediate focus is to demonstrate a premium full‑service product capable of competing with established international carriers. CEO Tony Douglas has emphasised the aim of delivering a consistent premium experience across every cabin, rather than concentrating upgrades only at the front. Beyond the 787 programme, the airline has also committed to 60 Airbus A321neo aircraft for regional routes, forming part of a fleet pipeline intended to support the carrier’s ambition to serve more than 100 destinations by 2030 and bolster Riyadh’s global connectivity. --- ## Qatar startup ecosystem sees notable rise in world rankings URL: https://startupsmena.com/qatar-startup-ecosystem-sees-notable-rise-in-world-rankings-mq7iwcce Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Qatar’s startup ecosystem rose three places to 73rd in the Global Startup Ecosystem Index 2026 by StartupBlink, the country’s highest position on record ... Qatar’s startup ecosystem climbed three places to 73rd in the Global Startup Ecosystem Index 2026 by StartupBlink, marking the country’s highest recorded position (it was 90th in 2023) and registering an ecosystem growth rate of 43.5%. The country entered the Middle East and Africa top 10 for the first time—rising one place to 10th regionally—while holding fourth place within the Gulf Cooperation Council (GCC). Qatar scored 1.384 in the index, which evaluates 1,556 cities and 100 countries using three sub-scores: Quantity, Quality, and Business Environment. “Qatar’s startup ecosystem is entering a defining phase — where strong government backing is now being matched by a growing, connected founder community,” said Indica Amarasinghe, chapter director of Startup Grind Doha. “Over the past few years, we’ve seen a clear shift from infrastructure building to ecosystem activation, with more investment funds operating in Qatar, international founders coming to Qatar, communities collaborating, sharing knowledge, and engaging globally.” Context and report highlights The StartupBlink index described both Qatar and its capital Doha as among the faster-growing startup ecosystems in the GCC. Doha itself climbed 66 places to 358th globally with 77.5% growth, placing it among the top 10 fastest-growing cities in the Middle East. While Doha ranked 23rd overall among cities in the Middle East and Africa, it placed seventh in the ‘Ecosystem Attractiveness Functional Category’, a measure of a city’s ability to draw international business activity and talent. National rank: 73rd globally, up three places; score 1.384. Regional rank: 10th in Middle East & Africa; 4th in the GCC. Doha: 358th globally, up 66 places; 77.5% growth; 23rd in Middle East & Africa cities. Functional categories: 18th globally in ‘Startup Community Activity’; 59th in the ‘Innovators Business Environment Index’. Ecosystem value: $625 million; Qatar is third in the GCC in the ‘Ecosystem Brand Value Pillar’. The report noted that Qatar’s showing in community activity and business environment outperforms its overall rank—18th globally for community activity and 59th on the innovators business environment metric—signalling active engagement and relatively strong business conditions to support startups. Amarasinghe highlighted the role of both public and private institutions in driving progress, naming Startup Qatar, Qatar Development Bank (QDB), Qatar Investment Authority (QIA), Invest Qatar, Qatar Financial Centre (QFC), the Ministry of Communications and Information Technology (MCIT), Qatar Science & Technology Park (QSTP), and the Qatar Research, Development and Innovation (QRDI) Council as key actors. He also credited community programmes such as the Young Entrepreneurs Club (YEC) and Startup Grind Doha for contributing to the rise in community activity rankings. Outlook “The next wave of growth is driven not just by capital, but by deeper partnerships, access to international markets, and sustained community engagement. This collective momentum is what’s positioning Qatar as a competitive and globally relevant startup hub,” Amarasinghe said. In a LinkedIn post he added: “The task ahead is clear: maintaining this momentum by increasing startup density, scaling successful ventures globally, attracting more private capital, and continuing to strengthen the community-led initiatives that transform infrastructure into innovation outcomes. The foundations are in place. The next chapter will be defined by execution, international connectivity, and the ability to produce globally competitive startups from Qatar.” --- ## Startups in United Arab Emirates News URL: https://startupsmena.com/startups-in-united-arab-emirates-news-mq7j0fpr Date: 2026-06-10 Category: tech Tags: mena, startup **Summary:** Startups in United Arab Emirates ... watched startup markets for founders who care about capital, speed, visas, fintech, and AI. From my perspective as Violetta Bonenkamp, a European serial founder kn The United Arab Emirates startup scene entered June 2026 with headline numbers that underline its regional heft: 57,439 startups nationwide, roughly 3,000 funded companies, more than $104 billion in tracked funding and 10 unicorns. Cities to watch remain Dubai — ranked with 1,623 startups in the city — and Abu Dhabi, where licensing and capital-incentive channels such as ADGM and Hub71 are steering founder activity. May deal activity named in public databases included rounds for RemotePass, Mythik, Fasset, HaKeem and CredibleX. "Europe often talks. The UAE often ships," said Violetta Bonenkamp, a European serial founder and commentator on the region. "The UAE rewards builders who move fast and stay specific." Context and details Those figures come from startup market tracking and reflect a maturing ecosystem that blends customer access, capital and regulatory pathways. Tracxn data cited in market summaries shows 2,671 investors participating across 2,190 funding rounds, with 212 startups securing early-stage funding and 80 raising late-stage capital. The last five years produced 6,130 new companies and about $1.32 billion raised in that period, while the market has seen 698 acquisitions and 426 IPOs — outcomes that signal real exit routes. Scale and activity: 57,439 startups; 3K funded firms; $104B+ total funding tracked; 10 unicorns. Investor footprint: 2,671 investors across 2,190 funding rounds. Recent deal names: RemotePass, Mythik, Fasset, HaKeem, CredibleX (May 2026 rounds noted in public databases). Startup lifecycle: 5,844 startups closed operations, a reminder of rapid market selection. Foundational players and programs: ADGM, Hub71, Mubadala, Microsoft, Dubai Future Accelerators. Visa and talent levers: expanded residency options including the Golden Visa and Green Visa remain central to talent and founder attraction. Sector momentum is concentrated in fintech, AI, crypto, logistics and B2B software, while observers point to underpriced opportunity in regulated workflow tools, Arabic-first software, SME tools and trust-focused products. Dubai is described as strongest for sales, partnerships and regional visibility; Abu Dhabi is presented as stronger on capital deployment and structured setup paths tied to government-backed vehicles and accelerators. Outlook For founders, freelancers and business owners weighing the UAE, the practical takeaway centers on speed, specificity and licensing clarity. Bonenkamp frames the decision bluntly: "The message for founders is simple. This is not a tiny opportunistic market anymore." Entrepreneurs are advised to test demand quickly, map licensing early, build relationships before arriving and prioritize solutions that fix costly business problems for customers in the region. With active capital flows, city-level specialization between Dubai and Abu Dhabi, and sizable public‑private programs, the UAE market is positioned for continued deal activity — but its high churn rate also means weak execution is exposed fast. That combination, proponents argue, makes the market rewarding for disciplined teams that move decisively. --- ## 7 Software Companies in Dubai That Are Pioneering AI and Digital Transformation URL: https://startupsmena.com/7-software-companies-in-dubai-that-are-pioneering-ai-and-digital-transformation-journal-mq75k2dy Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Learn how Dubai's top software companies are driving AI innovation and digital transformation, enabling businesses to scale, optimize operations, and embrace the future of technology in 2026. Dubai’s software sector is rapidly reshaping how businesses adopt artificial intelligence and digital platforms. In a recent piece on vocal.media, Khaled Al Qubaisi highlighted seven Dubai-based software companies that are “driving AI innovation and digital transformation,” noting the city’s alignment with UAE Vision 2031 and the broad regional reach of these firms. The roundup — published “about 11 hours ago • 4 min read” — profiles companies that span mobile and cross‑platform app development, enterprise software, cloud migration and AI-driven analytics. "Fingent calls itself a digital transformation firm, and unlike many such firms that call themselves as such for the sake of marketing alone, they deliver on their promise." Who’s doing what: quick profiles Theappidea — Positioned as a reliable mobile‑first shop, Theappidea builds native iOS and Android apps as well as cross‑platform solutions. The company emphasizes discovering actual user needs rather than simply implementing client briefs, and has worked across retail, food delivery, real estate and tourism. Its AI work focuses on recommendation engines and chatbots. TechGropse — Known for early adoption of AI, TechGropse offers full‑scale software that incorporates learning and adaptive capabilities. The firm serves diverse sectors including logistics, fintech and medicine, and is notable for turning startup concepts into prototypes and MVPs with tight budgets. Clavax Technologies — A quiet but consistent provider of enterprise software, Clavax specializes in ERP customization, CRM development and cloud migration for medium and large enterprises across the UAE and the Gulf Cooperation Council (GCC). The company’s focus is on minimizing disruption during sensitive migrations. Fingent — As a self‑described digital transformation firm, Fingent emphasizes end‑to‑end adoption of cloud technologies and staff familiarization with new systems. It has delivered projects across education, logistics and broader business services, positioning itself as more than a systems integrator by prioritizing operational readiness. Elixir Web Solutions — Targeting SMEs that lack in‑house data science teams, Elixir develops practical AI tools such as automatic report generation, customer behavior analysis and inventory management systems that are intended for daily operational use rather than proof‑of‑concept demos. Omninos Solutions — Specializing in marketplaces and on‑demand apps, Omninos supplies white‑label solutions for ride‑sharing and food delivery startups, enabling entrepreneurs to reduce development time and cost. The firm’s footprint extends beyond Dubai into Southeast Asia and Africa. Brainvire Infotech — Focused on e‑commerce and cloud enterprise solutions, Brainvire works with platforms like Magento and Salesforce, covering storefront design through logistics optimization using data — a capability increasingly in demand as regional retailers move online. Looking ahead, the article urges businesses to perform due diligence when selecting partners, advising them to review prior client experiences and align vendor capabilities with project needs. As Dubai’s software ecosystem expands, these seven companies represent a mix of niche specialists and broad‑service providers that local and regional firms can consider when planning AI and digital transformation initiatives. --- ## Startup wrap: Post-Eid dealmaking heats up across MENA’s startup ecosystem URL: https://startupsmena.com/startup-wrap-post-eid-dealmaking-heats-up-across-menas-startup-ecosystem-arab-news-mq75hch8 Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** RIYADH: A series of venture capital, funding, acquisition, and leadership announcements marked the post-Eid week across the Middle East and North Africa’s startup and technology ecosystem. Deals spann Venture capital, strategic investments and leadership moves accelerated across the Middle East and North Africa in the week following Eid, with multiple funds and deals announced spanning impact investing, telecom-backed venture capital, autonomous logistics, artificial intelligence and digital consumer services. Highlights include Anara Impact Capital’s debut fund first close at $48 million, UAE operator du launching a $50 million corporate venture fund with Shorooq, CargoX’s $250 million raise led by BlueFive Capital, and Uber’s agreement to buy a 12.5 percent stake in Careem Technologies from e& for $100 million. "the first Arabic community dedicated to learning AI in Arabic." Key deals and developments Anara Impact Capital: The MENA-focused impact VC announced the first close of its debut fund at $48 million, approaching a $50 million target. The fund will back seed and Series A startups operating in learning, wellbeing and climate, seeking companies that pair commercial potential with measurable social and environmental impact. Backers at first close include KfW (on behalf of the German Federal Ministry for Economic Cooperation and Development) and the European Commission, alongside Dara Holdings, ISSF and several regional family offices and high-net-worth individuals. The fund is led by Nafez Dakkak, Mohamed Hussain and Nadia Moukaddam, with Fadi Ghandour serving as chair of the Investment Committee. du Ventures (du x Shorooq): UAE telecom operator du launched du Ventures, a $50 million corporate VC fund managed by Shorooq. The fund will target startups across fintech, artificial intelligence, cybersecurity, cloud infrastructure, loyalty solutions, gaming, enterprise software and customer experience technologies, with a significant portion of capital earmarked for UAE-based ventures. Portfolio companies are expected to gain access to du’s infrastructure, enterprise customer base and market reach. Foras.AI Efham.ai: Foras.AI invested in Efham.ai, an AI education platform developed by Egypt-based NixAI. The investment supports what Foras.AI describes as "the first Arabic community dedicated to learning AI in Arabic." Efham.ai plans to launch more than 100 AI training lessons by the end of the third quarter of 2026 and is targeting learners across Egypt, Saudi Arabia, the UAE, Kuwait, Jordan and other Arab markets. CargoX: Autonomous logistics company CargoX raised $250 million from an investor group led by BlueFive Capital. CargoX operates driverless delivery vehicles across last-mile, middle-mile and long-haul routes. The company is led by Tomaso Rodriguez, the former CEO of Talabat who oversaw that company’s growth and its $2 billion initial public offering in 2024. Funds will support network expansion, vehicle technology development, operational infrastructure and international growth. Uber Careem: Uber agreed to acquire a 12.5 percent stake in Careem Technologies from e for $100 million. The transaction would reduce e ’s stake to 37.53 percent from 50.03 percent, while strengthening Uber’s position; the deal remains subject to regulatory approvals and customary closing conditions. Careem’s ride-hailing business remains fully owned by Uber; the super app business includes food and grocery delivery, payments and other digital services. Leadership at Saudi Venture Capital (SVC): Nora Al-Sarhan was appointed CEO of SVC in a board resolution on June 3 and will assume the role on July 1. Al-Sarhan joins from a background in private capital investment management at SVC, where she has served since June 2019, most recently as deputy CEO and chief investment officer. Outgoing CEO Nabeel Kosh will remain on the board. SVC said it has invested in more than 65 funds that have collectively backed more than 1,000 startups and SMEs. CNTXT AI Actualize: UAE-based CNTXT AI announced the acquisition of Actualize to strengthen its Arabic voice AI offering. Outlook: The announcements signal fresh capital flows into core technology and impact verticals across MENA. CargoX and du Ventures plan expansion and commercialization with strategic partners and infrastructure support; Efham.ai aims to scale Arabic-language AI learning with a Q3 2026 content rollout; and the Careem stake sale to Uber — pending regulatory clearance — reshapes ownership of the super app business. SVC’s leadership transition is positioned as a continuity move as the company continues deploying capital across venture, private equity and credit strategies in line with its portfolio objectives. --- ## Remainder of LIV Golf season reportedly in jeopardy as Saudi funding dries up URL: https://startupsmena.com/remainder-of-liv-golf-season-reportedly-in-jeopardy-as-saudi-funding-dries-up-mq74snx2 Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** With four events remaining on the LIV Golf schedule, the Saudi-funded league’s ability to complete its season is reportedly in jeopardy. The news comes as Saudi Arabia’s Public Investment Fund announc With four events left on its calendar, LIV Golf’s ability to finish the 2026 season is reportedly in jeopardy as funding from Saudi Arabia’s Public Investment Fund (PIF) faces an uncertain timeline. The PIF announced in April it will cease funding LIV Golf following the 2026 season, and according to a Front Office Sports report by David Rumsey cited by Awful Announcing’s Drew Lerner, that financial support “could dry up even earlier than expected.” “Every remaining tournament is on the fence,” a high‑ranking executive at a LIV partner told Front Office Sports. “LIV Golf doesn’t know if or when the PIF will shut off the spigot.” The report states LIV’s funding from the PIF is sent “on a monthly basis,” and that the league is “still operating under the assumption that those payments will continue for the remainder of the season.” Should those monthly transfers stop, Rumsey’s reporting indicates the final four tournaments could be canceled, imperiling a schedule that already saw a New Orleans event canceled and a 47‑day gap after LIV’s most recent stop in Spain. Remaining events at risk LIV Golf U.K., scheduled the week after The Open Championship at Royal Birkdale in July A U.S. event at Trump National Golf Club Bedminster — described in the report as the “safest bet” to occur because of its ties to the president The regular‑season finale in Indianapolis The team championship in Michigan, which carries a $40 million purse Facing the end of PIF backing, LIV has begun courting outside investors. Previous reports indicate the league is seeking $250 million in new investment, and LIV has claimed it could reach profitability within 20 months if such capital is secured. Media rights remain another potential revenue lever: LIV told Axios last month that, absent the full $250 million investment, it would rely on a “new media rights deal” to achieve profitability, while Fox currently pays LIV a “nominal” fee for broadcast rights. Looking beyond 2026, Front Office Sports outlined a proposed 2027 structure that would include 10 events — five designated as “team majors” in international markets and five “team signature events” primarily in the U.S. The proposed model would likely feature purses “lower than the PGA Tour’s $20 million signature events,” a significant change from the eye‑popping guarantees and purses that initially lured top players to LIV. Outlook If PIF payments are curtailed before the season concludes, LIV faces immediate operational disruption and reputational damage. Even if the league secures outside capital or a media rights deal, Rumsey’s reporting and league statements suggest the revamped LIV would operate with smaller purses and potentially weaker fields than the PGA Tour, leaving its long‑term status — and the remainder of the 2026 schedule — uncertain. --- ## MENA Startup Funding Surges in May, But Debt Deals Mask Underlying Caution URL: https://startupsmena.com/mena-startup-funding-surges-in-may-but-debt-deals-mask-underlying-caution-funds-global-mena-mq74v5qx Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Much of this total stemmed from Trukker’s $300 million debt raise, which alone represented nearly 80% of all funding secured by UAE startups during the month. Saudi Arabia remained the second-largest Startups across the Middle East and North Africa (MENA) secured $454.7 million in May 2026 through 33 transactions, a 202% increase from April and a 76% rise year‑on‑year, Funds Global MENA reported on 9 June 2026. However, that headline surge was heavily skewed by debt financing: debt deals accounted for roughly two‑thirds of the month’s capital, with Trukker’s $300 million debt raise alone accounting for almost 80% of all funding secured by United Arab Emirates‑based startups in May. "At face value, startup investment across the Middle East and North Africa (MENA) staged a significant comeback in May 2026," Funds Global MENA wrote, flagging the broad recovery in headline figures while also signalling the need for a closer look at deal composition. Debt transactions contributed 66% of total funding in May, meaning the monthly total was heavily influenced by a small number of large rounds. "Debt transactions contributed 66% of total funding, meaning the headline growth was heavily influenced by a small number of large financing rounds," the outlet added, underlining that the composition of financing — equity versus debt — materially alters the picture behind aggregate sums. Regional breakdown and deal dynamics United Arab Emirates: $379 million across 15 deals. Trukker’s $300 million debt raise made up nearly 80% of this sum. Saudi Arabia: 11 startups raised a combined $70 million, a 167% increase in funding volumes compared with April 2026. Egypt: three companies secured approximately $5 million in fresh capital. Although excluding debt funding still showed an improvement from April — signalling modest recovery in investor engagement — the annual comparison exposed enduring restraint. The total number of deals in May fell 57% from May 2025, with investors apparently concentrating capital into fewer, larger opportunities rather than spreading it widely across the market. "Investors continue to adopt a cautious approach, concentrating capital into fewer, larger opportunities rather than deploying funds broadly across the market amid ongoing economic and geopolitical uncertainty," Funds Global MENA observed, reflecting a theme that recurs across regional investment flows. Trukker’s $300 million debt raise was the defining transaction of the month, propelling the UAE to the top of the regional rankings and illustrating how individual, sizeable debt rounds can skew monthly totals. The Kingdom of Saudi Arabia’s 167% month‑on‑month rise to $70 million highlights renewed investor interest there, while Egypt’s activity — roughly $5 million across three deals — keeps it in the conversation as a persistent, if smaller, startup market. Looking ahead, the combination of larger debt facilities and a falling deal count suggests a period of selective deployment by investors: headline funding may continue to show volatility as big debt rounds close, but broader market recovery will likely depend on renewed appetite for smaller equity rounds and increased dealflow across multiple sectors and countries. --- ## “Builders of the Next Decade Deserve a Government That Moves at Their Speed” H.E. Ruba Al Hassan On Abu Dhabi's AI-Ready Vision to Support Startup Growth URL: https://startupsmena.com/builders-of-the-next-decade-deserve-a-government-that-moves-at-their-speed-he-ruba-al-hassan-on-abu--mq74pvet Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** She later joined Mustafa Alrawi, Director of Strategic Communications at the Abu Dhabi Department of Economic Development, for a discussion on “The Operating System of Resilience.” · Hub71’s Impact Ev Abu Dhabi is accelerating its plan to become an AI-ready nation by streamlining public services and reducing administrative friction for entrepreneurs, H.E. Ruba Al Hassan announced at Hub71’s Impact Event 2026. Speaking at Manarat Al Saadiyat on June 9-10, 2026, Al Hassan, Director General of Strategic Affairs and Future Foresight at the Department of Government Enablement – Abu Dhabi, highlighted the government services platform TAMM as a central enabler: the platform offers more than 1,100 services from 90 partners, its AI assistant resolves 77% of requests instantly, supports more than 90 languages and has achieved a customer satisfaction rate of 92.5%. She also said TAMM’s AutoGov feature has saved businesses more than AED17 million since launch. “It’s the million of hours that we hand back to you every year. And here’s what I want everyone to know: we built this for you. A founder’s scarcest resource isn’t capital, it’s time. Every hour lost to bureaucracy, to renting, to trying to figure it out is an hour lost, not building something new, not hiring, not pitching to investors,” Al Hassan said during her keynote “Building an AI-Ready Nation.” Platform features and measurable impact Al Hassan framed TAMM as an “operating system” for public services that runs quietly in the background so entrepreneurs can focus on innovation. She introduced TAMM’s “Business Space” feature, which enables users to manage premises selection, assess market competition, secure licences and access other business services through a single digital interface. The AutoGov automation, she explained, handles routine administrative tasks such as automatic trade licence renewals and notifies users when processes are completed, eliminating manual filings and calendar reminders. TAMM services: more than 1,100 across 90 partner entities. AI assistant performance: resolves 77% of requests instantly; supports 90+ languages; 92.5% customer satisfaction rate. AutoGov savings: more than AED17 million saved for businesses since launch. Al Hassan framed the ambition in bold terms: “We’re on a course to become the world’s first AI government, not because it’s a cool headline, as it is, but because the builders of the next decade deserve a government that moves at their speed,” she said. She urged founders to imagine the possibilities once administrative obstacles are removed, asking, “What could you build if nothing stood in your way? We, as an element, have spent years clearing the path, so you can find that out. Now it’s your turn.” Forum and next steps Following her keynote, Al Hassan joined Mustafa Alrawi, Director of Strategic Communications at the Abu Dhabi Department of Economic Development, for a panel titled “The Operating System of Resilience.” Hub71’s Impact Event 2026, the annual convening for stakeholders across the startup, investment and innovation ecosystem, ran June 9–10 at Manarat Al Saadiyat and served as the platform for the emirate to showcase measurable progress in digitisation and AI-enabled public services. --- ## Hub71 startups raise $2.7 billion as Abu Dhabi strengthens position as global tech hub URL: https://startupsmena.com/hub71-startups-raise-27-billion-as-abu-dhabi-strengthens-position-as-global-tech-hub-khaleej-times-mq74n0lj Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Since its launch in 2019, Hub71’s community has grown to 390 startups, with 295 companies supported through its programmes that connect founders with investors, corporates, regulators, talent and stra Startups within Abu Dhabi’s Hub71 ecosystem have raised more than Dh9.9 billion ($2.7 billion) and generated Dh5.4 billion ($1.5 billion) in revenue by the end of 2025, underscoring the emirate’s expanding appeal to technology companies and investors. According to Hub71’s 2025 Impact Report, the community secured Dh2.2 billion ($599 million) in funding and produced Dh645 million ($175 million) in revenue during 2025 alone. Direct quote "Startups that move to Abu Dhabi or launch their products here benefit from a wider ecosystem that includes regulators, investors, corporates, talent partners and international cross-border partners, all working together to support innovation and growth," said Mohamed Al Khoori, Head of Marketing and Communications at Hub71. Context and details Since its launch in 2019 Hub71’s community has expanded to 390 startups, with 295 companies supported through programmes designed to connect founders with investors, corporates, regulators, talent and strategic partners. Applications from founders worldwide rose 62 per cent year-on-year in 2025, with Hub71 receiving more than 5,000 applications and onboarding 52 new startups into its ecosystem. 2025 funding: Dh2.2 billion ($599 million) 2025 revenue: Dh645 million ($175 million) Total to date: Dh9.9 billion ($2.7 billion) raised; Dh5.4 billion ($1.5 billion) revenue Community size: 390 startups and more than 200 partners Applications in 2025: 5,000+ (62% year-on-year increase) New startups in 2025: 52 Hub71 has broadened its offering beyond its initial seed-to-Series A focus, working closely with partners such as the Abu Dhabi Investment Office (Adio) and Abu Dhabi Global Market (ADGM) to support later-stage companies. Al Khoori highlighted the Initiate programme, launched last year to support earlier-stage startups, and cited a specific success: "One of the programme’s success stories is our partnership with Khalifa Fund through the Mizan programme, which has supported 17 Emirati founders this year alone." The ecosystem also strengthened its international footprint in 2025, deepening partnerships with venture capital firms, corporates and government entities across Hong Kong, Japan, Portugal, India, Ireland and the United States. Hub71 added new sector platforms, including Hub71+ Life Sciences, alongside existing specialist focuses on artificial intelligence, climate technology and digital assets. Outlook "This growth reflects the increasing demand from founders to join Hub71, the ambition and quality of the startups within our ecosystem, and the role our partners play in supporting entrepreneurs. Together, these strengths reinforce Hub71’s role in enabling founders to build globally competitive technology companies," said Ahmed Ali Alwan, Chief Executive Officer of Hub71. Ahmed Jasim Al Zaabi, Chairman of Hub71 and Chairman of the Abu Dhabi Department of Economic Development, framed the results as part of a broader economic strategy: "Startups play a vital role in attracting investment, creating jobs and driving long-term growth while strengthening Abu Dhabi’s position as a destination where ambitious technology companies can build, scale and compete globally," he said. The figures signal continued momentum as Hub71 seeks to convert increasing global interest into sustained capital flows and commercial growth across the Middle East, Asia and Africa. --- ## Emirati startup founders unveil AI-powered innovations at Hub71 Impact 2026 URL: https://startupsmena.com/emirati-startup-founders-unveil-ai-powered-innovations-at-hub71-impact-2026-emirates-247-mq74bgxj Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Discover Emirati startup founders unveiling AI-powered innovations at Hub71 Impact 2026 in Abu Dhabi, highlighting mentorship, funding and partnerships driving growth in marketing, healthcare and adva Emirati startup founders unveiled AI-powered and advanced-technology solutions at Hub71's Impact 2026 event held at Manarat Al Saadiyat in Abu Dhabi, underscoring Abu Dhabi’s integrated entrepreneurship ecosystem. Founders credited Hub71 and Hub71+ Digital Assets’ programmes for providing mentorship, funding opportunities and strategic partnerships that have helped their companies scale across sectors including digital marketing, healthcare and advanced manufacturing. The event and coverage were published by WAM on 2026-06-09. "ReachLLM aims to strengthen its presence within Abu Dhabi's innovation ecosystem and expand globally, with a focus on markets in the Middle East and North Africa," said Maryam Alabbar, Co‑Founder at ReachLLM, describing the company’s ambition to lead what it sees as a new phase of search visibility for brands. At Impact 2026, founders presented concrete use cases and product roadmaps tied to local market needs and regulatory priorities. Several companies highlighted how hosting, data residency and Arabic-language capabilities were central to their go-to-market strategies, particularly for customers in the Gulf and regional healthcare providers. Startups and solutions showcased ReachLLM (Maryam Alabbar) — Positions itself on AI-driven brand visibility across large language models and search-oriented generative platforms including ChatGPT, Perplexity, Gemini and Google AI Overviews. Alabbar emphasised that the company is "continuing to develop products built entirely on AI to help brands maintain a more sustainable and consistent presence across large language models, while also enabling them to measure the impact of that growth." She framed "AI-powered answer engine optimisation, or AEO, as the next generation of traditional search engine optimisation, or SEO." LiMb (Shamma Al Saadi) — An AI-powered smart platform for physiotherapists that designs therapeutic exercises and manages patient follow-up outside clinics. Al Saadi noted LiMb was in a pre-launch phase "ahead of its official launch at the end of this month" and is developing an advanced AI model for therapeutic exercises and pain management that will provide "instant voice feedback to correct movement posture" to support home rehabilitation. Nabdh Technologies (Afra Alahbabi) — Developing an Emirati platform for Arabic-language operational intelligence tailored to clinical workflows. Alahbabi said the platform is designed to reduce the burden of medical documentation and to "integrate smoothly with existing healthcare systems without disrupting daily operations or creating clinical risks," while relying on UAE-based data hosting to ensure security and privacy. The AM Lab (Abdallah Alawadi) — Launched as "the first digital manufacturing platform in the Middle East and North Africa dedicated to simplifying industrial procurement," the company consolidates spare-parts requirements online and fulfils orders within weeks or, in some cases, days. Alawadi highlighted capabilities to produce parts for oil and gas, aviation and defence, aligned with the UAE’s National In-Country Value programme. Founders at the event stressed that Abu Dhabi’s programming — from mentorship to access to capital and strategic partners — has enabled rapid product development and regional expansion. Looking ahead, the startups signalled plans to deepen ties within Abu Dhabi’s innovation ecosystem, scale AI-native products internationally, and prioritise Arabic-language and UAE data-residency features to meet institutional customers’ compliance and privacy requirements. --- ## Abu Dhabi’s startup push gains momentum as Hub71 funding tops $2.7 billion URL: https://startupsmena.com/abu-dhabis-startup-push-gains-momentum-as-hub71-funding-tops-27-billion-fast-company-middle-east-the-mq74joj3 Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Demand from founders continued to accelerate during 2025, with Hub71 receiving more than 5,000 startup applications, a 62% increase compared with the previous year. The platform welcomed 52 new startu Abu Dhabi’s Hub71 reported a surge in demand and funding in 2025, with the ecosystem’s total funding figure surpassing $2.7 billion as applications from founders accelerated. Hub71’s 2025 Impact Report shows more than 5,000 startup applications were received during the year — a 62% increase compared with 2024 — and the platform welcomed 52 new startups, bringing the ecosystem’s total to 390 startups. "The increase reflects growing international interest in Abu Dhabi among companies seeking funding opportunities and expansion into markets across the Middle East," Hub71 said in its impact reporting, highlighting the geographic focus of many incoming teams. Demand and scale: key indicators from the 2025 report Hub71’s figures underline a year of intensified activity. The tally of 5,000-plus applications and a 62% year-on-year rise point to stronger founder interest in relocating or partnering with Abu Dhabi-based programs. The 52 startup additions in 2025 pushed the platform’s community to 390 companies — a milestone flagged in Hub71’s 2025 Impact Report published by Fast Company Middle East. Total funding associated with Hub71-supported startups: more than $2.7 billion Startup applications received in 2025: more than 5,000 (62% increase YoY) New startups welcomed in 2025: 52 Total startups in the Hub71 ecosystem: 390 Hub71’s statement connects the uptick in applications to rising international interest, with many companies said to be aiming for funding and regional expansion across the Middle East. The platform’s figures suggest that Hub71 continues to function as a magnet for overseas founders and capital, helping accelerate company growth trajectories through access to capital and local market entry. While the headline funding figure — $2.7 billion — captures attention, the report’s application and onboarding metrics offer a read on how Abu Dhabi’s tech ecosystem is scaling its pipeline of early- and growth-stage ventures. The combination of increased applicant volume and net additions to the community can also strain services such as mentorship, office space and investor introductions, indicating scaling priorities for Hub71 in the near term. Outlook Hub71 framed the 2025 results as evidence of mounting international interest in Abu Dhabi as a base for fundraising and regional expansion. If application growth continues at comparable rates, Hub71 will face choices about capacity, selection criteria and the balance of sectoral focus across its startup cohort. For founders and investors watching the Gulf region, the numbers from Hub71’s 2025 Impact Report signal that Abu Dhabi remains an active node for deal flow and company formation in the Middle East. --- ## Algebra AI launches with a $7mln round to bring AI operations to mid-market businesses URL: https://startupsmena.com/algebra-ai-launches-with-a-7mln-round-to-bring-ai-operations-to-mid-market-businesses-mq74hf8p Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Dubai, United Arab Emirates: Algebra ... official launch, emerging from stealth with clients across the financial services, food and beverage, distribution and manufacturing sectors, and $7 million in Algebra AI has officially launched in Dubai after emerging from stealth with $7 million in seed financing and an initial client roster spanning financial services, food and beverage, distribution and manufacturing. The funding round includes participation from Infinity Constellation, BECO Capital, Silicon Badia and Waseel Investments. The company was founded in partnership with its main investors and is led by co‑founder and CEO Anis Harb, who previously scaled Deliveroo’s Middle East business from launch to over $1 billion in gross transaction value. “There are more than 30,000 mid‑market businesses in the GCC, but while these businesses that form the backbone of this economy have been told AI is for them, the market has not produced a model that works for how they actually operate,” Harb said. Algebra AI positions itself to fill a persistent gap in AI adoption: mid‑market firms are too large for off‑the‑shelf tools yet too small to justify the expense and internal teams required to deploy enterprise‑grade systems. The company designs, builds and runs AI‑enabled workflows for businesses as a managed service that incorporates a client’s existing tools, approval logic and operational constraints so solutions fit from day one. Unlike many implementations that end at deployment, Algebra AI keeps the same team that designed and built the system on duty to operate, monitor and improve it over time — an approach the firm describes as owning the outcome without a handover. “Algebra AI is distinct from a typical SaaS provider. We study how your business works, build AI systems around it, and stay accountable for the outcome. That is a fundamentally different relationship, and it is one the mid‑market has not had access to before,” Harb added. Francis Pedraza, co‑founder of Infinity Constellation and founder of Invisible Technologies, spoke on behalf of the founding investors, underscoring the practical orientation of Algebra AI’s model. “My teams have spent a decade figuring out what it takes to make AI work inside real businesses - doing the messy work inside the business, not as a demo, but as a system that runs every day,” Pedraza said. “So when Namek from Silicon Badia approached me about partnering with the team at BECO, Waseel Investments and Anis to build a company around this opportunity in the GCC, it immediately resonated. The combination of Anis’s operating experience, the strength of the founding syndicate, the depth of the regional ecosystem, and the scale of the opportunity made it clear that Algebra AI could become the category‑defining company for AI‑powered services in the region.” Details and strategy Core offering: Managed AI operations — design, build and continuous operation of AI workflows tailored to client processes. Target clients: Mid‑market companies across the GCC, specifically those in financial services, food & beverage, distribution and manufacturing. Value proposition: Avoids one‑size‑fits‑all tools and the high fixed costs of enterprise projects by embedding with clients and owning ongoing outcomes. Outlook Algebra AI said it will actively expand its client base across the GCC and grow its operations and AI engineering team in the coming months, with a focus on deepening managed service capabilities across sectors. The company’s public profile includes a website (https://getalgebra.ai/) and a LinkedIn presence (https://www.linkedin.com/company/algebra-ai-mena/). For media enquiries, Algebra AI listed Adam Flinter, Managing Partner at Growth Ensemble, with contact details including email af@growthensemble.com and phone +971 58 2747 420. --- ## “Our Purpose Has Been the Same Since Day One, and That is to Simplify the Lives Of People.” Careem Co-Founder Magnus Olsson Reflects on Building a Business Beyond Financial Success URL: https://startupsmena.com/our-purpose-has-been-the-same-since-day-one-and-that-is-to-simplify-the-lives-of-people-careem-co-fo-mq74ej9x Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Olsson also highlighted the UAE’s ... as a launch pad for startups seeking regional and international expansion. ... Disclosure: Our goal is to feature products and services that we think you'll find Magnus Olsson, co‑founder and Managing Director of Careem, told delegates at Hub71’s Impact Event 2026 in Abu Dhabi that building a company requires a purpose beyond financial returns. Speaking at a session titled “Beyond the Blueprint” held at Manarat Al Saadiyat on June 9, Olsson reflected on Careem’s evolution from a ride‑hailing startup into a multi‑service technology company and highlighted the UAE’s role as a launch pad for startups targeting regional and international expansion. He joined Chris Rogers, partner at Knollwood and a Hub71 board member, for the discussion. “In this business, there’s a 99% chance the money will be lost, and 1% chance you will make it, but I think the biggest thing for Careem is our purpose, which is our reason for existence. It has been the same since day one, and that’s to simplify the lives of people and to build an awesome organization that inspires,” Olsson said. Olsson used Careem’s product trajectory to illustrate that purpose‑driven strategy. “We did it with rides and ride hailing and came through with groceries and payments, and we tried to say things that are messy, challenging, that has friction, let’s try to simplify it,” he said, describing how the company broadened its services to address everyday frictions for users. He also emphasised that regional expansion required more than a central playbook: “We are not one region, we’re a bunch of countries, and the way you operate just because you are operating in Dubai doesn’t mean at all that you can operate in Riyadh or Jeddah… You have to go city by city for most services.” How Careem scaled: local teams and tailored strategies Olsson pointed to specific markets where Careem leaned into local capability, noting expansion efforts in countries such as Pakistan and Egypt relied on empowering teams that understood local customer behaviours and regulatory environments. He framed this operational approach as essential for companies that hope to scale across the Middle East and beyond. Access to markets: “half the population is within four hours of flight time [from here],” Olsson said, highlighting the UAE’s geographic connectivity. Access to capital: “Abu Dhabi is the capital of capital,” he added, noting the emirate’s growing role in financing innovation. Access to talent: “people want to come to the UAE,” Olsson observed, contrasting today’s inbound appeal with two decades ago: “Twenty years ago when I came, there was a hardship allowance to come to the UAE. Now people probably take a discount to come here because it’s so attractive.” Hub71’s Impact Event 2026, running June 9–10, brings together stakeholders across the startup, investment and innovation ecosystem. Olsson’s remarks underscored a message for founders and investors at the event: commercial success is important, but durable businesses are built on clear purpose, strong local teams and a city‑by‑city approach to market entry. The session, moderated alongside Chris Rogers, reinforced Careem’s narrative of expanding services while keeping its founding aim—to simplify people’s lives—front and centre. --- ## "We Invest Early, Build Local Capability, And Make Decisions Before The Market Has Fully Priced The Opportunity." Mubadala CEO Shares The Investment Lessons Behind Abu Dhabi's Transformation URL: https://startupsmena.com/we-invest-early-build-local-capability-and-make-decisions-before-the-market-has-fully-priced-the-opp-mq705p2q Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Dr. Al Katheeri explained that Hub71 is a prime example of the broader development strategy being used in Abu Dhabi’s technology sector. Dr. Bakheet Al Katheeri, CEO of the UAE Investments Platform at Mubadala, used the opening day of Hub71’s Impact Event 2026 to set out the investment playbook that has underpinned Abu Dhabi’s economic transformation. Speaking at Manarat Al Saadiyat on June 9, Dr. Al Katheeri tied Mubadala’s long-term mandate — set when the firm was founded in 2002 — to the rapid growth of the Abu Dhabi startup ecosystem, highlighting that Hub71 today hosts nearly 400 startups from more than 70 countries, which together have raised around US$2.7 billion and generated roughly US$1.5 billion in revenue. Direct quote "We invest early, we build local capability, and we make decisions before the market has fully priced the opportunity," Dr. Al Katheeri said, framing Mubadala’s strategy as one of conviction and forward-looking capital deployment. He added: "Mubadala was founded in 2002 with a clear mandate: to diversify our economy, to build national capabilities, and to invest with conviction across generations." Context and details Dr. Al Katheeri drew an explicit parallel between Mubadala’s multi-decade strategy and Hub71’s development as an accelerator and cluster for technology companies. He described Hub71 as "in many ways that of Mubadala itself," noting recent momentum: in 2025 the platform attracted 5,000 startup applications — a 62% year-on-year increase — and welcomed 52 new startups into its community. Mubadala’s reported assets under management reached AED1.4 trillion in 2025. The UAE Investments Platform is valued at AED280 billion across more than 100 companies. In the prior year the platform contributed AED45 billion to Abu Dhabi’s GDP and supported around 98,000 jobs. Responding to early scepticism about deploying sovereign capital into early-stage ventures, Dr. Al Katheeri stressed the institution’s people-focused approach and the importance of conviction. "The team is what carried the institution when the plan had to change," he said. "Second, conviction matters more than consensus. Ideas do not always begin with agreement; they begin with conviction. That is usually where institutions are built." He concluded that Abu Dhabi's experience demonstrates how "character, conviction, and belief can turn a questioned idea into something the world comes to admire." Outlook The remarks at Hub71’s two-day Impact Event, running June 9–10 at Manarat Al Saadiyat, underscore Mubadala’s continued appetite for early-stage exposure and ecosystem development as levers for economic diversification. With Hub71 now a community of nearly 400 startups and Mubadala’s UAE Investments Platform holding stakes in over 100 companies, the city’s strategy appears to be doubling down on building local capability and enabling founders to "start, grow, and thrive," in Dr. Al Katheeri’s words — a roadmap that will be tested as the region seeks further scale and exits while sustaining the jobs and GDP contributions already reported. --- ## Hub71 startups surpass $2.7bln in funding as Abu Dhabi gains momentum as a global techhub URL: https://startupsmena.com/hub71-startups-surpass-27bln-in-funding-as-abu-dhabi-gains-momentum-as-a-global-techhub-mq703hlq Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Abu Dhabi, UAE – Hub71, Abu Dhabi's global tech ecosystem, announced that startups in its community have raised more than $2.7 billion (AED 9.9 billion) in funding and generated $1.5 billion (AED 5.4 Abu Dhabi’s Hub71 said startups in its community raised more than $2.7 billion (AED 9.9 billion) in funding and generated $1.5 billion (AED 5.4 billion) in revenue by the end of 2025, according to the ecosystem’s 2025 Impact Report. The figures mark a new milestone for the emirate’s flagship tech ecosystem, which reported $599 million (AED 2.2 billion) raised and $175 million (AED 645 million) in revenue in 2025 alone, while its community expanded to 390 startups. "Hub71’s performance reflects the sustained progress Abu Dhabi is achieving in building a more competitive, innovation-led economy. Startups are contributing to investment and long-term growth, while strengthening the emirate’s position as a place where ambitious technology companies can build, scale and compete globally.” — H.E. Ahmed Jasim Al Zaabi, Chairman of Hub71 and the Abu Dhabi Department of Economic Development (ADDED). Key figures and ecosystem developments Total funding raised by Hub71 community since inception: more than $2.7 billion (AED 9.9 billion). Total revenue generated by Hub71 startups to end-2025: $1.5 billion (AED 5.4 billion). 2025 funding: $599 million (AED 2.2 billion); 2025 revenue: $175 million (AED 645 million). Community size: 390 startups, 295 supported through Hub71 programmes. Founder demand: more than 5,000 startup applications in 2025, a 62% year‑on‑year rise; 52 startups joined the community in 2025. Corporate deals: $244 million (AED 897 million) secured from 2022 to 2025, including $37 million (AED 137 million) in 2025. New verticals and programmes in 2025: Hub71+ Life Sciences (joining Hub71+ AI, Hub71+ ClimateTech and Hub71+ Digital Assets) and the Immersion Programme for international startups. Expanded international engagement with partners and markets including Hong Kong, Japan, Portugal, India, Ireland and the United States; 2025 immersion cohorts arrived from Hong Kong and Japan through partnerships with HSITP, Cyberport, MTR Lab and JETRO. "2025 was a year of meaningful progress for Hub71's community, which now spans more than 390 startups and over 200 partners. The growth of our community reflects the increasing appeal of Abu Dhabi as a destination for founders, the calibre and ambition of the entrepreneurs at Hub71, and the strength of the ecosystem partners supporting them. Together, these factors reinforce Hub71's position as a platform that enables founders to build globally relevant tech startups from Abu Dhabi." — Ahmad Ali Alwan, Chief Executive Officer of Hub71. The report underlines Hub71’s dual focus on capital and commercialisation: alongside fundraising gains, startups are securing corporate partnerships and market access that contribute to revenue growth and regional expansion. Hub71 highlighted dedicated support channels — from value-add programmes and enabling services to regulatory engagement — that aim to help founders scale beyond the UAE into markets across the Middle East, Asia and Africa. Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 said the suite of specialist verticals and the Immersion Programme are designed to attract high-growth international companies while deepening ties with venture capital, corporates and government partners in target markets. Media enquiries for the release were directed to Zoe Saunders at TechHubEdelman@Edelman.com. --- ## Uber’s Delivery Hero takeover faces new threat as Saudi unicorn Ninja eyes HungerStation URL: https://startupsmena.com/ubers-delivery-hero-takeover-faces-new-threat-as-saudi-unicorn-ninja-eyes-hungerstation-tech-startup-mq701a7z Date: 2026-06-09 Category: tech Tags: mena, startup **Summary:** Just when Uber appeared to be gaining momentum in its pursuit of Delivery Hero, a Saudi startup founded by the man who created HungerStation has entered the picture. Riyadh-based quick-commerce unicor Uber’s effort to acquire Berlin-based Delivery Hero has encountered a fresh rival: Riyadh-based quick-commerce unicorn Ninja. According to reports first flagged by the Financial Times and covered by TechStartups, Ninja — founded by Ebrahim Al-Jassim, the entrepreneur who originally built HungerStation — is “considering a bid for some of Delivery Hero’s Middle East assets,” a move that could complicate Uber’s roughly €10 billion takeover push for the German delivery group. "Ninja is considering a bid for some of Delivery Hero's Middle East assets, adding to a list of suitors that could complicate Uber's plan to buy the German food delivery company. Riyadh-based Ninja's options include buying HungerStation and partnering with another group to acquire parts of Talabat," the Financial Times reported. Context and details Uber first approached Delivery Hero in May with a takeover proposal valued at roughly €10 billion (about $11.6 billion). Delivery Hero rejected the initial offer, prompting Uber to buy shares on the open market and lift its stake to roughly 37%, making it the company’s largest shareholder. Delivery Hero’s Middle East portfolio includes regional heavyweights such as Talabat — active in the UAE, Kuwait, Qatar, Bahrain, Oman, Jordan, Egypt and Iraq — and Saudi Arabia’s HungerStation. Ninja, founded in 2022, has built a business around ultra-fast delivery of groceries, pharmacy items and prepared food via a network of dark stores across Saudi Arabia, and has expanded into Bahrain, Qatar and Kuwait. The startup reached unicorn status in 2025 after raising $254 million in a funding round led by Riyad Capital, a raise that valued Ninja at approximately $1.5 billion. The company has previously indicated plans for an eventual listing on Saudi Arabia’s Tadawul. Founder: Ebrahim Al-Jassim — originally built and later sold HungerStation to Delivery Hero. Ninja funding: $254 million round in 2025 led by Riyad Capital; valuation ~ $1.5 billion. Uber’s approach: initial takeover proposal ~ €10 billion (~$11.6 billion); now holds ~37% of Delivery Hero. Regional assets: Talabat and HungerStation among the most valuable Gulf delivery brands. The FT’s account suggests Ninja could submit a formal proposal for HungerStation as soon as this week, potentially partnering with another buyer to acquire parts of Talabat. That scenario would peel away some of Delivery Hero’s most attractive regional assets and could undercut Uber’s stated aim of buying the company as a whole. Outlook Uber now faces a more crowded and complicated bidding landscape. Prosus, the Amsterdam-listed investor and former major Delivery Hero shareholder, recently secured a temporary waiver from European regulators and is reported to be exploring ways to increase influence or oppose an Uber transaction unless terms improve. DoorDash has also reportedly examined Delivery Hero’s Middle East operations, underscoring wider interest in the region’s delivery markets. Whether Ninja formally bids, triggers a bidding contest, or simply delays Uber’s strategy remains uncertain. What is clear is that a Saudi founder who once sold HungerStation to Delivery Hero may now have an opportunity to reclaim the business, potentially reshaping competition for food delivery and quick commerce across the Gulf. --- ## Fintech.TV, ADX to launch region’s first live news studio at Abu Dhabi bourse URL: https://startupsmena.com/fintechtv-adx-to-launch-regions-first-live-news-studio-at-abu-dhabi-bourse-mpz4hr29 Date: 2026-06-04 Category: tech Tags: mena, startup **Summary:** The collaboration makes Fintech.TV the first global financial media company to maintain a daily broadcast presence at ADX Fintech.TV and the Abu Dhabi Securities Exchange (ADX) Group announced on June 3 a studio partnership that will establish the Mena region’s first international financial news studio reporting 'live' from a stock exchange. The ADX-Fintech.TV studio will go “live” on June 8 and makes Fintech.TV the first global financial media company to maintain a daily broadcast presence at ADX, linking real-time coverage from Abu Dhabi with the broadcaster’s New York Stock Exchange studios. "This partnership marks a defining step in connecting Abu Dhabi more directly with the global investment community. It comes at a pivotal moment when investors are seeking resilient, high-growth markets with strong fundamentals, a long-term vision and access to emerging sectors shaping the future economy," said Abdulla Salem AlNuaimi, Group CEO, ADX Group. The tie-up positions Fintech.TV — described in the announcement as a global broadcasting platform for entrepreneurs and investors headquartered at the New York Stock Exchange — as a daily on-the-ground media presence at ADX. According to ADX, the collaboration will broaden international investor access to Abu Dhabi’s capital markets at a time when global investors are increasingly seeking exposure to economies and sectors with strong fundamentals. Studio launch date: June 8 Partners: Fintech.TV and ADX Group (Abu Dhabi Securities Exchange) Fintech.TV presence: studios at ADX and the New York Stock Exchange Target sectors highlighted: AI, energy, healthcare, fintech and advanced industries Vince Molinari, Founder and CEO of Fintech.TV, highlighted the strategic fit of ADX within the network’s global footprint. "ADX is one of the fastest growing exchanges in the world and the companies listed here, across energy, AI, healthcare, and fintech, have a reach and relevance that goes well beyond this region," he said. "We have been coming to the UAE for years and watching this market grow into something truly remarkable. Having our studios at both the NYSE and ADX is exactly where a global financial media network should be." Troy McGuire, Co-Founder and Head of Global Content and Operations at Fintech.TV, described the ADX facility as central to the broadcaster’s expansion. "The ADX studio is a cornerstone of what we are building with our 24/7 streaming channel," he said. "Every day we will be able to cover the ADX opening bell, sit down with the executives and investors driving this market, and shine a light on listings that have a truly global footprint. This is not periodic coverage. It is a daily, dedicated commitment to telling the ADX story to our audience around the world, and we believe that audience is going to grow significantly as investors start to understand what is happening here." ADX framed the partnership as a means to deliver “consistent, on-the-ground insight, trusted narratives, and transparent market intelligence directly from ADX and Abu Dhabi to a global audience.” Looking ahead, the daily broadcast presence aims to raise international visibility for Abu Dhabi-listed companies and accelerate cross-border investor engagement by coupling floor-level market access with 24/7 streaming distribution between Abu Dhabi and Wall Street. --- ## India Startup Funding & Business Roundup - June 3, 2026: Agilitas Sports Raises Rs 225 Cr, Fraganote and Phab Close Pre-Series A Rounds URL: https://startupsmena.com/india-startup-funding-business-roundup-june-3-2026-agilitas-sports-raises-rs-225-cr-fraganote-and-ph-mpz4esrn Date: 2026-06-04 Category: tech Tags: mena, startup **Summary:** Premium gifting platform Zuvees ... taking total funding to Rs 30 crore. Founded by Vijaykumar Ghadge and Abhishek Daiya, Zuvees combines AI-driven personalisation, video approval before dispatch, and Indian startups closed a string of funding rounds on June 3, 2026, led by vertically integrated sportswear firm Agilitas Sports, which raised Rs 225 crore in a follow-on round. Other notable deals included D2C fragrance brand Fraganote’s $3 million Series A, protein snack brand Phab’s $4 million pre-Series A, premium gifting platform Zuvees completing a Rs 15 crore tranche in its ongoing Series A (taking total funding to Rs 30 crore), and Bengaluru-based Propsoch raising $2 million in seed capital. "The round includes a Rs 200 crore follow-on from Nexus and Rs 25 crore from Rainmatter," the report noted on Agilitas's latest fundraise. Funding roundup Agilitas Sports — Rs 225 crore follow-on from Nexus Venture Partners (Rs 200 crore) and Rainmatter (Rs 25 crore). Fraganote — $3 million Series A led by V3 Ventures with participation from Rukam Capital. Zuvees — Rs 15 crore from IvyCap Ventures as part of an ongoing Series A; total funding now Rs 30 crore. Propsoch — $2 million seed led by Athera Venture Partners. Phab — $4 million pre-Series A led by OTP Ventures and Chona Family Office. Context and details Agilitas Sports, founded in 2023 by former Puma India MD Abhishek Ganguly, operates across sports footwear, apparel and accessories and owns the One8 brand, which was transferred by cricketer Virat Kohli. The company also holds exclusive licensing rights for Lotto across India, Australia and South Africa, and is expanding Sportsyard, its large-format multi-brand retail chain. Agilitas had previously raised Rs 100 crore from Nexus in December 2023. D2C fragrance start-up Fraganote, founded by Garima Kakkar and Arjun Anand in 2023, has built a portfolio of 42 SKUs and generates roughly 60% of its revenue from its website, 20% from quick commerce, with the remainder from ecommerce and offline kiosks across 14 cities. The company reported a 5X growth in FY26 and is targeting Rs 60 crore revenue in FY27 and Rs 100 crore within 18 months; proceeds will be used for brand building, omnichannel distribution and expansion into body care. Premium gifting platform Zuvees — started by Vijaykumar Ghadge and Abhishek Daiya — said it combines "AI-driven personalisation, video approval before dispatch, and cross-border fulfilment capabilities." Having launched in the UAE in early 2025, Zuvees claims an "annualised revenue run rate of over $3 million" and serves customers in more than 50 countries. IvyCap’s Rs 15 crore investment will be used to enhance its AI recommendation engine, supply chain and CRM capabilities. Bengaluru-based Propsoch, co-founded by Ashish Acharya and Ravi Agrawal, evaluates properties across more than 80 parameters — from legal compliance to construction quality and appreciation potential — and will use seed proceeds to strengthen research and expand the team. Nutritionist-founded Phab, led by Gayatri Chona, focuses on macro-first, calorie-efficient snacks and has built a 50% offline footprint across modern trade and general trade while expanding quick commerce in Tier 2 and Tier 3 cities. Business moves and outlook In corporate developments, insurtech unicorn Acko announced four senior vertical hires — Apoorv Kalra (auto), Kunal Kapur (health), Vivek Sharma (Acko Drive Ecosystem) and Neha Gupta (assisted experience) — as it prepares a DRHP filing via the confidential route in H2 2026, eyeing a 2027 listing at a $2–$2.5 billion valuation. Separately, Akash Dongre, co-founder and CPO of PhonePe-owned Indus Appstore, stepped down after more than a decade; Chief Business Officer Priya Narasimhan is expected to lead the company going forward. --- ## ZAWYA: ADRES signs MoU with Keyper to digitize rental payments across Abu Dhabi URL: https://startupsmena.com/zawya-adres-signs-mou-with-keyper-to-digitize-rental-payments-across-abu-dhabi-tradingview-news-mpyth9y2 Date: 2026-06-04 Category: tech Tags: mena, startup **Summary:** Omar Abu Innab, CEO and Co-founder ... in Abu Dhabi and other ADRES areas. Through our Rent Now, Pay Monthly offering, we aim to make rent payments more flexible for tenants while supporting landlords Advanced Real Estate Services (ADRES) has signed a memorandum of understanding (MoU) with Dubai‑based PropTech Keyper to digitize rent payments across Abu Dhabi and other emirates, seeking alternatives to traditional cheque‑based rental transactions. The agreement will enable Keyper’s Rent Now, Pay Monthly (RNPM) product, activate an “Upfront Rent” solution for landlords, and support development of an integrated digital property management platform for enterprise landlords, individual owners and tenants. Key quote Moath Maqbol, General Manager of ADRES, said: “This MoU reflects our commitment to supporting the digital transformation of the real estate sector through practical solutions that improve efficiency and enhance the experience of tenants, landlords, and real estate stakeholders. By working with Keyper, we aim to explore digital rent payment and property management solutions that support a more flexible and connected real estate ecosystem across Abu Dhabi and other emirates.” Details of the partnership Under the MoU, ADRES and Keyper will establish a delivery‑driven framework to assess technologies, develop and execute implementation plans, and launch measurable innovation initiatives related to the rental experience and rental payment collections. The agreement targets a regulated digital alternative to lump‑sum annual or quarterly cheque payments, a practice still common in parts of the UAE rental market. RNPM (Rent Now, Pay Monthly): Enables tenants to pay rent in monthly digital instalments instead of upfront cheques, while earning bank points and rewards. Upfront Rent product: Allows property owners and enterprise landlords to access annualised rent receivables in advance, improving liquidity for asset holders. Integrated platform development: Joint work to build a digital property management platform covering rent collection, tenant management and owner tools across multiple emirates. Implementation approach: A delivery‑focused framework to pilot technologies, measure outcomes and roll out solutions at scale. Omar Abu Innab, CEO and Co‑founder of Keyper, commented: “We are delighted to sign this MoU with ADRES to support the development of digital rent payment solutions in Abu Dhabi and other ADRES areas. Through our Rent Now, Pay Monthly offering, we aim to make rent payments more flexible for tenants while supporting landlords and property owners with more efficient rent collection and property management tools.” Context and company data ADRES describes itself as a UAE‑based PropTech and AI venture builder that drives digital transformation in real estate and serves as a technical and strategic partner to entities such as the Abu Dhabi Real Estate Centre, Abu Dhabi Global Market (ADGM) and the Sharjah Digital Department. Keyper, headquartered in Dubai, bills itself as a full‑stack digital rent management provider. The company has established partnerships including with the Dubai Land Department, reported having raised over US$17 million in equity, secured US$30 million in financing, and serves more than 19,000 residential units in the UAE. Outlook The MoU positions ADRES and Keyper to pilot and scale regulated digital payment alternatives aimed at reducing reliance on cheques and improving cash flow for landlords while offering tenants payment flexibility. The next phase will focus on technology assessment, implementation planning and measurable pilots across Abu Dhabi and other emirates, with the potential to influence broader adoption of RNPM and upfront receivable products across the UAE rental market. --- ## How to Raise Funds for Startups in UAE URL: https://startupsmena.com/how-to-raise-funds-for-startups-in-uae-aviaan-aviaan-mpytdwxd Date: 2026-06-04 Category: tech Tags: mena, startup **Summary:** Discover how startups in the UAE can attract investors and secure funding through market research, feasibility studies, and business plans. The United Arab Emirates continues to draw entrepreneurs and investors, but founders must present evidence of demand, financial viability and scalability to win capital. Aviaan, a business services firm, positions itself as a fundraising partner for startups across Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah by delivering market research, feasibility studies, financial modelling and investor-ready business plans. Case work cited by Aviaan includes an Abu Dhabi-based HealthTech startup that sought AED 8 million and — after partnering with Aviaan — saw investor confidence rise and multiple venture capital discussions initiated within seven months. "Aviaan helps startups across the UAE prepare for successful fundraising through professional market research, feasibility studies, financial modelling, and business plan development." Context and practical steps Aviaan and the source material identify the primary funding sources available to UAE startups and the evidence investors expect before writing a cheque. Common funding channels include: Angel investors Venture capital firms Family offices Government funding programs Startup accelerators and incubators Crowdfunding platforms Bank financing and corporate venture capital Industries attracting investor attention in the UAE are listed as FinTech, HealthTech, artificial intelligence, e‑commerce, logistics and supply chain, renewable energy, PropTech, EdTech and SaaS. Investors evaluate startups on market opportunity, revenue potential, scalability, competitive advantage and management capability. To answer those questions, Aviaan recommends three foundational deliverables: Market research — to quantify customer demand, measure addressable market size, analyse competitors and identify pricing and pain points. Feasibility studies — covering market, financial, operational, technical and regulatory feasibility to assess go/no‑go risks. Investor‑ready business plans — including executive summary, market and competitive analysis, operations plan, financial forecasts and funding requirements. The source emphasises practical components for each: financial feasibility should include startup costs, revenue projections, cash flow and profitability forecasts; operational feasibility should address staffing and infrastructure; regulatory feasibility must consider licensing and free zone rules. It also highlights common pitfalls that derail funding rounds such as limited market validation, weak financial forecasting and poor investor documentation. Outlook Aviaan’s case examples illustrate the payoff: a Dubai-based FinTech that conducted market research, feasibility work and a business plan secured seed funding and expanded across the GCC; the Abu Dhabi HealthTech client requesting AED 8 million saw investor engagement accelerate "within seven months." For UAE founders preparing to raise capital, the practical takeaway is clear — data‑driven market validation, rigorous feasibility studies and a polished business plan are often prerequisites to attract angels, VCs or strategic investors. --- ## Dubai's JLT welcomes new flexi workspace at Sweid One - My Startup World - Everything About the World of Startups! URL: https://startupsmena.com/dubais-jlt-welcomes-new-flexi-workspace-at-sweid-one-my-startup-world-everything-about-the-world-of--mpynobil Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Dubai-based real estate firm Sweid & Sweid has partnered with The Executive Centre (TEC) to operate more than 53,000 sq. ft. Dubai-based real estate firm Sweid Sweid has partnered with The Executive Centre (TEC) to bring more than 53,000 sq. ft. of premium flexible workspace to Sweid One in Jumeirah Lakes Towers (JLT), marking TEC’s entry into the DMCC business district. TEC will occupy two full floors at Sweid One, offering private offices, collaborative workspaces, executive meeting suites, boardrooms and event facilities supported by on-site teams and enterprise-grade infrastructure. The move expands TEC’s UAE footprint beyond its existing locations at Dubai World Trade Centre, One Za’abeel and Abu Dhabi Global Market (ADGM). "The addition of TEC enhances Sweid One’s appeal by giving occupiers access to a wider range of workplace solutions alongside Grade A office space and fully fitted units," said Maher Sweid, Managing Partner of Sweid Sweid. Details At Sweid One, TEC will provide flexible offices designed for immediate occupancy and future growth, enabling businesses to scale without the limitations of traditional leases. The agreement adds to TEC’s presence in the UAE, where it currently operates approximately 9,000 sq. m. at Dubai World Trade Centre, 3,000 sq. m. at One Za’abeel and 5,000 sq. m. at ADGM. TEC space at Sweid One: more than 53,000 sq. ft., occupying two full floors. Sweid One scale: approximately 1 million sq. ft. of built-up area, including 500,000 sq. ft. of Grade A office space. Building specifications: large floor plates, four-metre floor-to-floor heights, energy-efficient HVAC systems, premium solar-efficient glazing and sustainability-focused design standards. Amenities: Boon Coffee, The Kitchen by Spinneys Food Hall and a premium restaurant with an outdoor terrace (to be announced). Location and connectivity: positioned in the DMCC free zone with access to more than 600 cafés and restaurants, over 300 retail and convenience outlets, two metro stations and links to Sheikh Zayed Road and Sheikh Mohammed Bin Zayed Road. Ketan Trehan, Regional Director – Middle East at TEC, described the expansion as a major commitment for the company in the UAE and underlined the strategic importance of DMCC’s business ecosystem. "The partnership aligns with both companies’ shared focus on design, quality, and creating workspaces that enhance the employee experience," he said, framing the move as part of TEC’s broader regional growth. Globally, TEC operates across 38 cities in 15 markets, serving multinational corporations and high-growth enterprises with premium flexible workspace solutions. Outlook The collaboration positions Sweid One to capture demand for flexible, serviced-office solutions within one of Dubai’s busiest business hubs. By combining Grade A fitted units with TEC’s managed services, Sweid Sweid aims to offer occupiers a broader set of workplace options that can support immediate needs and longer-term expansion. The presence of TEC in DMCC also reinforces the free zone’s appeal to corporate occupiers, joining an ecosystem of more than 25,000 registered companies and leveraging Sweid One’s sustainability-focused design and transport connectivity to attract local and international tenants. --- ## Du in $50m push to expand regional startups URL: https://startupsmena.com/du-in-50m-push-to-expand-regional-startups-agbi-mpym00lr Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Emirates Integrated Telecommunications, operator of Du in the UAE, has launched a venture capital fund to help scale up regional startups Emirates Integrated Telecommunications, the operator of the Du brand in the UAE, has launched a $50 million venture capital fund aimed at scaling regional startups across the Gulf. The vehicle, branded Du Ventures, will be managed by Abu Dhabi-based Shorooq and will target companies in fintech, artificial intelligence, cybersecurity, cloud, loyalty, gaming, enterprise software and customer service technologies in the UAE and other GCC countries. "Through Du Ventures, we are investing in technologies and founders that align closely with our strategic priorities," Du CEO Fahad Al Hassawi said in a statement published on the Dubai Financial Market. Context and details Du said the fund is intended to accelerate the commercialisation of emerging technologies by leveraging the operator’s scale, infrastructure and enterprise reach. The announcement comes amid a broader shift in the region where Gulf institutions and sovereign wealth funds increasingly treat venture capital as a core holding rather than an alternative asset class, analysts told AGBI. Fund size: $50 million Manager: Shorooq (Abu Dhabi-based) Target sectors: fintech, AI, cybersecurity, cloud, loyalty, gaming, enterprise software, customer service technologies Geography: UAE and other GCC countries Shorooq, which Du tapped to manage the fund, currently manages more than $500 million in assets according to its website. The firm recently participated in the $1 billion funding round for Advanced Machine Intelligence Labs, a Paris-based AI startup, in March — a sign of its growing activity in the AI and deeptech space. Analysts and industry figures quoted by AGBI have framed the move as part of a race among Gulf capital allocators to secure early access to emerging tech. "This is no longer an early stage experiment. This is capital chasing inevitability. Venture capital is evolving from finding the next big thing to getting access before [everyone else]," Gautam Jain of SC Ventures, the venture-building arm of Standard Chartered, said. The fund launch is backed by Du’s recent financial performance. In April the operator reported quarterly revenues up 7 percent year-on-year to AED4.1 billion (about $1.1 billion) and a 16 percent rise in net profit to AED834 million. The UAE sovereign wealth investor Emirates Investment Authority holds a 50.1 percent stake in Du. The company’s stock was trading at AED11.46 on Wednesday afternoon, up nearly 16 percent year-to-date. Outlook Du Ventures positions the telecom operator to play a more active role in shaping the technology stack used by regional enterprises and consumers, while giving its corporate backer early-stage access to innovations aligned with its connectivity and enterprise services. With Gulf institutions treating venture capital as a strategic allocation, the fund could serve both as a commercial pipeline for Du and as a route for founders seeking distribution and scale across the UAE and broader GCC markets. --- ## UAE Reinforces Its Commitment to SME Growth: Lessons from Make it in the Emirates 2026 URL: https://startupsmena.com/uae-reinforces-its-commitment-to-sme-growth-lessons-from-make-it-in-the-emirates-2026-mpylxbrn Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** During a fireside discussion on building enduring enterprises, Dr. Ahmad bin Abdullah Belhoul Al Falasi, UAE Minister of Sports and Chairman of the Emirates Growth Fund, highlighted the importance of The UAE reiterated its long-term commitment to scaling small and medium-sized enterprises at the Make it in the Emirates 2026 forum in Abu Dhabi, with senior officials emphasizing support that extends beyond initial startup funding. Dr. Ahmad bin Abdullah Belhoul Al Falasi, UAE Minister of Sports and Chairman of the Emirates Growth Fund (EGF), used a fireside discussion on building enduring enterprises to outline a shift in policy: from helping companies launch to enabling them to scale, innovate and compete internationally. "Highlighted the importance of supporting businesses beyond their startup phase and enabling them to become long-term contributors to the national economy," Dr. Ahmad bin Abdullah Belhoul Al Falasi said during the session, framing the EGF’s mission within the broader national industrial strategy. Context and details Policymakers at the forum underlined that SMEs are central to employment, innovation and economic diversification in the UAE, and that access to capital is only one piece of a wider growth puzzle. The Emirates Growth Fund was described as a response to a common growth-stage financing gap: companies that have proven concepts and generated revenue but need additional capital and capabilities to scale operations, expand geographically, or invest in talent and technology. "By focusing on long-term value creation rather than short-term returns, the fund aims to help businesses strengthen governance, improve operational capabilities, and accelerate expansion plans," the forum materials noted, reflecting EGF’s stated approach to supporting growth-stage enterprises. Speakers at Make it in the Emirates 2026 pointed to market access and integration into government procurement and industrial supply chains as critical enablers of sustainable expansion. Initiatives cited at the event are designed to link UAE businesses with major procurement programmes and strategic development projects, creating commercial opportunities in sectors such as manufacturing, technology, healthcare, logistics and food security. Growth capital: EGF targets post‑startup funding needs to help companies scale. Market access: government procurement and industrial programmes provide commercial pathways. Operational support: emphasis on governance, partnerships and value‑chain integration. The forum also highlighted a strategic ambition to cultivate "industrial champions"—companies with the potential to lead globally in their sectors. Officials stressed that as global supply chains evolve, the UAE aims to position itself as a hub for advanced manufacturing, technology adoption and industrial resilience, offering targeted support and investment to high‑potential enterprises. Outlook With the Emirates Growth Fund focused on long‑term value creation and a growing suite of market‑access programmes, the UAE is building an ecosystem that seeks to carry firms from early-stage ventures to established regional and international players. For international companies and investors, the forum reiterated the benefits of a stable regulatory environment and targeted support mechanisms designed to convert initial presence into sustained growth. Companies and investors seeking market-entry support were reminded that local advisors remain available: The Corporate Group (TCG), a fully Emirati-owned corporate service provider in Dubai, offers company formation, licensing, government relations and market-entry advisory. Contact details listed by TCG include Office #1601, 48 Burj Gate Tower, Downtown Dubai; Tel: +971 4 404 8787; Email: ask@thecorporategroup.ae. --- ## M42, Arcera team up to boost medicine and biotech growth in Abu Dhabi URL: https://startupsmena.com/m42-arcera-team-up-to-boost-medicine-and-biotech-growth-in-abu-dhabi-mpycbhqt Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** M42 and Arcera partner to advance biopharma, genomics and AI-driven precision medicine, boosting Abu Dhabi’s role as a global life sciences hub. M42 Integrated Health Solutions and Arcera Life Sciences have signed a strategic agreement to accelerate biopharma localisation and next‑generation healthcare innovation in Abu Dhabi. The partnership, announced on June 3, 2026, will support efforts led by the Department of Health – Abu Dhabi to position the emirate as a global hub for life sciences by combining M42’s healthcare and artificial intelligence capabilities with Arcera’s drug development and market access expertise. "Combining artificial intelligence, healthcare delivery and drug development expertise would help expand clinical opportunities and support the translation of research into patient care." — Dr. Fahad Al Marzooqi, Chief Executive Officer, M42 Integrated Health Solutions The agreement commits both companies to develop an integrated life sciences ecosystem spanning clinical development, innovative therapies and treatments for genetic and rare diseases. Under the collaboration, Arcera will work with M42 to leverage genomics data and study disease prevalence across selected genetic and rare conditions, with an aim to support precision medicine and improve patient access to advanced treatment solutions in the region. Officials outlined four principal areas of focus for the partnership: Genomics‑based therapeutic development, using population and disease prevalence data to inform target selection and trial design. Accelerating clinical trials, increasing local trial capacity and streamlining pathways from research to patient care. Advancing stem cell and regenerative medicine research, aligning laboratory and clinical capabilities to foster new treatment modalities. Integrating artificial intelligence technologies across the healthcare sector to optimise development, diagnosis and delivery of therapies. Dr. Asma Al Mannaei, Executive Director of the Health Life Sciences Sector at the Department of Health – Abu Dhabi, described the collaboration as evidence of the emirate’s evolving role in healthcare innovation. "The collaboration reflects the emirate’s growing position in life sciences and healthcare innovation," she said, adding that "Abu Dhabi continues to strengthen regulation, clinical research and health data infrastructure to help accelerate the development of advanced therapies and improve healthcare outcomes." Isabel Afonso, Chief Executive Officer of Arcera Life Sciences, said the deal underlines the capabilities of Abu Dhabi’s healthcare ecosystem. "The partnership highlights the strength of Abu Dhabi’s healthcare ecosystem and supports sustainable patient‑focused innovation," Afonso said, framing the agreement as both a commercial and clinical advancement for the region. The companies said the agreement includes plans to evaluate future joint projects and to create pathways for long‑term collaboration in both development and commercialisation. By combining M42’s AI and healthcare delivery experience with Arcera’s market access and drug development skills, the partners intend to expand clinical opportunities and speed the translation of research into patient treatments in Abu Dhabi and the wider region. While no financial details were disclosed, officials positioned the collaboration as part of a broader push to strengthen the UAE’s life sciences sector, increase clinical research capacity, and apply genomics and AI to healthcare and pharmaceutical development. --- ## Dubai teen left school at 13, built an AI startup at 14, says the city made it possible URL: https://startupsmena.com/dubai-teen-left-school-at-13-built-an-ai-startup-at-14-says-the-city-made-it-possible-emirates-247-mpyc79av Date: 2026-06-03 Category: saas Tags: uae, ai, saas, entrepreneurship, jainam-jain **Summary:** Fourteen-year-old Dubai resident Jainam Jain built Mengo, an AI co‑founder platform to automate marketing, sales and customer engagement workflows. The product is in beta with a waiting list and his father is listed as co‑founder on legal documents due to age restrictions. At 14, Dubai resident Jainam Jain has built an AI startup after leaving formal schooling at 13, saying the city’s network and culture made the leap possible. Jainam completed his Grade-10-equivalent IGCSE examinations at age 13 after roughly 105 days of preparation and examinations, then chose to focus on entrepreneurship rather than immediately continue with traditional schooling. He is now building Mengo , an AI co‑founder platform that aims to automate marketing, lead nurturing, sales functions, content generation, newsletters, websites, communications and customer engagement workflows through a single business profile. The product is in beta and Jainam says roughly 100 businesses have joined the waiting list. “The networking here is incredible,” Jainam said. “You meet investors, users, mentors and people who genuinely want to help.” Born in Pune, India, and raised in Dubai from around age five, Jainam credits a family environment that encouraged risk-taking and public engagement. Early experiments included a YouTube channel, JJ Fun Time, which pivoted from toy unboxing to science experiments and drew more than 100,000 subscribers within three months. That visibility led to school invitations to conduct demonstrations and to a longer trajectory in motivational speaking and public engagement alongside his younger sister, Jivika Jain. At age seven, Jainam and his sister launched a YouTube channel that quickly exceeded 100,000 subscribers. In 2022 they set out to host 100 motivational events in 50 days across Maharashtra — a target they exceeded, completing 120 events, travelling more than 6,000 kilometres and reaching over 50,000 people. At 13, Jainam finished Grade 10 through the Cambridge pathway after finding a school in Jaipur willing to facilitate early IGCSE sitting; his sister completed the same milestone at age 10. Jainam says his path to AI was self-directed. “I haven't taken formal AI courses,” he said. “Most of it came from experimenting with products, learning from YouTube and staying curious.” Because of legal age limits around company formation, his father, Dhiraj Kantilal Jain , serves as co‑founder on legal documents, but Jainam describes Mengo as effectively a one-person operation in terms of product and operations. “I focus on the operations and the product,” he said. He credits Dubai for accelerating both access and adoption. “As soon as something new happens globally, it gets adopted very quickly here,” Jainam said, adding that the local AI community is “growing fast, but it's also very supportive.” He frames Dubai less as a city and more as a collective: “I don't really see Dubai as a city. I see it as a community. People help each other, businesses support each other and everyone grows together.” That supportive atmosphere, he says, changes how events and meetings play out: “Whenever I am at a networking event, people can see me and know that I am young, but their question is always ‘What do you do?’ to find out more, instead of ‘Why are you here?’.” Jainam describes a formative moment from his earlier outreach work: science demonstrations that resonated not because of the experiments but because audiences recognised the presenters as ordinary kids who had chosen a different path. “People realised that we were just like them. We had simply chosen a different path,” he said. Outlook Looking ahead, Jainam says his ambitions extend beyond Mengo. He hopes to build companies that create opportunities for others and to inspire people to challenge conventional choices. “I want to be someone who inspires others to believe they can do something different,” he said. --- ## du launches $50 million investment fund with Shurooq to drive digital innovation URL: https://startupsmena.com/du-launches-50-million-investment-fund-with-shurooq-to-drive-digital-innovation-emirates-247-mpy2ex7v Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** du launches du Ventures, a $50 million fund with Shurooq to invest in AI, fintech, cybersecurity, and emerging tech startups across the UAE and Middle East du has launched du Ventures, a $50 million corporate investment fund established in partnership with Shurooq, the companies announced on June 3, 2026. The new fund will target startups and entrepreneurs across the United Arab Emirates and the wider Middle East, with a focus on turning emerging technologies into practical, scalable solutions in areas including artificial intelligence, financial technology, cybersecurity and other enterprise and customer-facing technologies. “The du Ventures fund is a natural extension of our commitment to driving digital transformation,” said Fahad Al Hassawi, CEO of du. “By investing in early-stage technologies and startups aligned with our strategic priorities, and leveraging du’s infrastructure and enterprise reach, we are accelerating the development of practical solutions that deliver sustainable value to customers and shareholders, while contributing to economic growth.” Context and structure of the fund du described the launch as a strategic step in its evolution from a traditional telecommunications provider into an integrated digital ecosystem player. The fund — managed by Shurooq, described in the announcement as a multi-strategy investment firm — will allocate a significant portion of its capital to UAE-based startups and entrepreneurial ventures while covering opportunities across the broader Middle East. According to the announcement, du Ventures will prioritise investments that align with du’s corporate strategy and that can benefit from the operator’s infrastructure and enterprise channels. Mahmoud Adi, co-founder of Shurooq, said the partnership is intended to combine capital with operational platforms to speed growth. “Promising startups need more than funding; they require access to strategic infrastructure and platforms,” Adi said. “Through du Ventures, we aim to bridge the gap between innovation and scalability, enabling entrepreneurs to bring transformative solutions to market more quickly.” Target sectors and investment focus Artificial intelligence (AI) Financial technology (fintech) Cybersecurity Cloud computing Loyalty programmes Digital gaming Enterprise solutions Customer experience technologies The fund is positioned to support early-stage technologies and startups that can integrate with or enhance du’s service offerings, including enterprise and consumer-facing products. du framed the initiative as a mechanism to accelerate the commercialisation of innovative solutions by coupling investment with access to du’s technical infrastructure and market reach. Outlook By committing $50 million and placing the fund under Shurooq’s management, du is signalling an intent to play a more active role in the regional startup ecosystem. The companies say the fund will help accelerate digital innovation across the UAE and the Middle East, support the development of scalable products and create potential strategic commercial partnerships. For entrepreneurs, the combination of capital, telecom-grade infrastructure and enterprise distribution that du offers could shorten time-to-market for solutions in the listed priority sectors. --- ## Why so few UAE SMEs become major companies URL: https://startupsmena.com/why-so-few-uae-smes-become-major-companies-the-national-mpxx7def Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Business Extra examines why many UAE small firms struggle to scale despite strong startup culture Small and medium-sized enterprises (SMEs) account for more than 95 per cent of businesses in the UAE and contribute over 60 per cent of the country’s non-oil GDP, yet relatively few scale into large private companies, The National reports. In a Business Extra episode hosted by Salim A. Essaid, two guests — Karolos Travassaros, chief portfolio officer at the Emirates Growth Fund, and Jen Blandos, founder and chief executive of Female Fusion — explored why many UAE firms stall after the start-up phase and what might help them bridge the gap to become sustainable midsized and national champions. "Starting a business is much easier than scaling one, and in some cases, even easier than closing one." That observation, often repeated by founders, underlines a pattern contributors to the podcast say is familiar across sectors. As firms grow beyond founding teams, they encounter a consistent set of barriers that slow or stop expansion. Guests on the show described a combination of financial, operational and market dynamics that create a so‑called "missing middle" — the space between early-stage start-up funding and the patient capital needed to build larger enterprises. Access to growth financing: Travassaros outlined the need for more tailored capital structures, noting the role of the Emirates Growth Fund in addressing the "missing middle" and the potential value of "patient, minority capital" to help SMEs scale without losing founder control. Delayed payments and cash flow pressure: The podcast highlighted how late receivables can choke expanding operations, forcing firms to divert time and resources from strategic growth to day-to-day survival. Operational complexity: As companies add staff, systems and markets, operational demands increase, pulling founders away from product and market development and toward administration and compliance. Competition for contracts and talent: Smaller firms often struggle to win large contracts and to attract and retain skilled employees when competing with established incumbents. Jen Blandos, drawing on 17 years as a business owner in the UAE and her work with Female Fusion — a community for women entrepreneurs — described "structural frustrations" that amplify these challenges for many company founders. The podcast framed these frustrations as not only a matter of capital, but also of market access, procurement practices and talent pipelines. Looking ahead, the conversation on Business Extra focused on practical steps and adjustments that could increase the number of UAE‑founded firms that survive and thrive as midsized and larger private companies. "So, while the UAE has built a strong start-up culture, the next challenge is helping more of those businesses grow into sustainable midsized companies," the programme concluded, pointing to the need for coordinated solutions from investors, industry and policy-makers. --- ## AI fever meets Gulf ambition as UAE bets big on the next market cycle URL: https://startupsmena.com/ai-fever-meets-gulf-ambition-as-uae-bets-big-on-the-next-market-cycle-mpxuwrtv Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Dubai: As artificial intelligence tightens its grip on global markets, the UAE is emerging not merely as a spectator to the technology boom, but as one of its most ambitious architects. The latest sur Dubai — As artificial intelligence tightens its grip on global markets, the United Arab Emirates is positioning itself as an active builder of the next technology cycle rather than a passive beneficiary. Nvidia’s latest earnings — which pushed revenues beyond the $80 billion mark — have underscored the AI-driven rerating of tech equities, even as the UAE charts an ambitious local course: AI is projected to contribute nearly 20% of the country’s GDP by 2031, and Abu Dhabi’s Stargate UAE initiative, developed in partnership with OpenAI, Oracle and Nvidia, aims to deploy a first 200MW phase by 2026. “The resilience we continue to see in AI-related equities reflects more than speculative momentum,” says Razan Hilal, Market Analyst, CMT at FOREX.com. “Markets are increasingly treating AI infrastructure as a long-term structural investment theme rather than a temporary cycle. What makes the UAE particularly significant in this environment is that it is not only investing capital into AI, but actively building the physical and regulatory ecosystem required to sustain that transformation over decades.” Global market drivers and Gulf strategy The recent surge in US equities — led once again by Nvidia and the broader AI complex — has reinforced a market narrative that investors will look beyond inflation fears, higher bond yields and geopolitical uncertainty if AI-driven growth expectations remain intact. Yet Gulf policymakers and investors are not relying solely on market sentiment. Authorities in Abu Dhabi are advancing the Stargate UAE initiative with technology partners OpenAI, Oracle and Nvidia to secure physical infrastructure, data sovereignty and digital industrialisation as a foundation for long-term AI adoption. Scale and timing: The Stargate UAE project’s initial 200MW phase is expected by 2026, signalling rapid deployment of compute capacity. Macroeconomic interplay: Lower energy prices — aided by expanded regional energy infrastructure and easing Strait of Hormuz bottlenecks — could reduce inflationary pressure and help yields stabilise, a development markets would likely view as supportive for technology and AI stocks. Market concentration and risk: The Nasdaq, S&P 500 and Dow Jones have all recovered near record highs, but concentrated flows into a narrow set of mega-cap tech firms introduce fragility. Investors are eyeing potential near-term events such as a SpaceX IPO, which could reallocate liquidity across the sector. Local resilience: The MSCI UAE Index remains structurally robust, trading more than 130% above its 2020 lows, reflecting a shift in regional investment identity from hydrocarbons toward logistics, advanced manufacturing, renewables and AI infrastructure. Outlook The convergence of sovereign capital, energy capacity and strategic partnerships with companies such as Nvidia, OpenAI and Oracle positions the UAE to play an outsized role in the next market cycle. Still, the path is volatile: AI-related assets have shown sharp swings, and macro variables — inflation, bond yields and geopolitics — will remain key to market direction. For now, market participants and policymakers in the Gulf appear willing to tolerate uncertainty in exchange for exposure to what many view as the defining economic transformation of the coming decade. --- ## Why Are Dubai Free Zones Leading Business Setup Growth? URL: https://startupsmena.com/why-are-dubai-free-zones-leading-business-setup-growth-mpxnh1dd Date: 2026-06-03 Category: tech Tags: uae, dubai, free-zones, ai, fintech, logistics, sustainability, expansion **Summary:** Dubai free zones are accelerating company formation by offering investor-friendly policies, digital-first registration, sector-focused ecosystems and global connectivity, attracting foreign investment and supporting growth in AI, fintech, logistics and other knowledge-based industries. Dubai free zones are driving a renewed wave of company formation in the UAE by offering investor-focused policies, tax advantages and direct access to global markets, Bizvisor reported on June 1, 2026. The piece attributes the momentum to streamlined registration procedures, sector-focused ecosystems, strong infrastructure and digital platforms that accelerate market entry for international businesses. The UAE Ministry of Economy is cited as noting continued expansion of the country’s non-oil economy, with free zones playing a significant role in attracting foreign investment, while reports from Dubai Chamber point to sustained growth in business registrations and foreign investor participation within Dubai’s commercial ecosystem. "Dubai Free Zones continue to lead the region because they offer a business environment designed for international trade, digital innovation, investment attraction, and operational flexibility." Context and details Bizvisor frames Dubai’s free zones as evolved, specialized business ecosystems rather than merely trading hubs. Today they support a wide range of sectors including technology, logistics, media, healthcare, manufacturing and financial services. Key features highlighted in the report include: Digital-first business operations: free zones have invested in online company registration, license renewals and government approvals to reduce administrative delays and improve operational efficiency. Industry-specific clusters: sector-focused free zones create easier networking, access to specialist service providers and regulatory alignment that benefits companies from fintech and AI startups to logistics and e‑commerce firms. Global connectivity: strong air, sea and digital infrastructure positions Dubai as a single strategic location to reach Europe, Asia and Africa. Operational predictability: transparent regulations and structured processes help businesses plan expansion and avoid surprises. Bizvisor also outlines practical considerations for founders and decision-makers: align the chosen free zone with both current and future business activities; assess office, staffing and supply-chain requirements; and evaluate long-term scalability and regulatory compatibility, particularly for regulated sectors such as finance, healthcare, education and technology. Outlook Looking ahead, Bizvisor identifies several trends likely to shape free zone development. Artificial intelligence and automation are expected to streamline licensing, compliance monitoring and government services. Sustainability requirements — including green buildings, renewable energy adoption and more efficient logistics — are becoming an increasingly important part of free-zone planning as international companies weigh environmental, social and governance factors. Cross-border commerce and the growth of knowledge-based industries such as AI, fintech and professional services are set to sustain demand for specialized free-zone services, the report argues. Bizvisor also points to a practical portfolio of company structures for businesses exploring the UAE: mainland company formation for wider onshore flexibility, free-zone setups for specialized ecosystems, PRO business services for administrative support, and offshore formation for specific structuring and asset management needs. For investors and founders, the report’s central advice is clear: prioritize jurisdictions that match sector needs and long-term expansion plans over short-term administrative convenience, and favour free zones that demonstrate ongoing investment in digital innovation and sustainability. --- ## India-UAE AI Partnership Driving Digital Sovereignty Growth URL: https://startupsmena.com/india-uae-ai-partnership-driving-digital-sovereignty-growth-mpxnds4h Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Collaborations in joint investment ... and startup enterprises are some ways of creating economic value through this collaboration. There will also be more room opened up for private enterprise, ventu By Mehak — June 2, 2026. The bilateral relationship between India and the United Arab Emirates is evolving from trade, energy and investment ties into a strategic technology partnership centred on artificial intelligence (AI). The shift is driving a focus on digital sovereignty and AI infrastructure — including data centres, cloud services, high‑performance computing and semiconductor capabilities — with the UAE positioning itself as a strategic investor and India offering a large digital market, a deep talent pool and a vibrant startup ecosystem. The two countries’ Comprehensive Economic Partnership Agreement (CEPA) provides an existing framework that advocates deeper cooperation in technology and investment. "Digital sovereignty denotes the ability of nations to control their own computing infrastructure, data policy framework, technological ecosystem, and computing infrastructure without being too dependent on foreign entities." The partnership is already taking corporate shape through increased engagement with UAE tech groups such as G42, a prominent AI and cloud computing firm. The source notes that G42 has expanded its role in global AI conversations and that cooperation with companies like G42 could give India access to "state‑of‑the‑art computer technology and research" while helping to build domestic AI solutions. That combination addresses a central point in New Delhi’s AI agenda: talent and policy alone are not enough without investments in compute, research facilities and cloud scale. India’s aims — to grow research programmes, entrepreneurship, digital public infrastructure and responsible AI development — align with the UAE’s track record in deploying modern infrastructure and strategic capital. The partnership is being framed not only as a route to commercial gain but as a means to strengthen technological independence and reduce reliance on other global technology ecosystems. Infrastructure: joint focus on data centres, cloud and high‑performance computing to underpin AI systems. Economic value: planned joint investments, research projects and startup collaboration to drive new ventures and funding opportunities. Sectors: healthcare, agriculture, manufacturing, logistics, and finance are highlighted as priority areas for applied AI. Corporate actors: UAE firms such as G42 are cited as central partners for technology transfer and research collaboration. Outlook Analysts cited in the report argue the India‑UAE collaboration could accelerate India’s trajectory toward becoming a global AI hub, while giving the UAE a stronger footprint in AI development. The economic opportunities are broad: AI is expected to contribute to GDP growth across multiple sectors, catalyse venture capital and innovation funding, and expand private‑sector entrepreneurship in both markets. Healthcare and agriculture emerge as immediate practical arenas where joint projects could yield measurable improvements — from diagnostics and personalised care to crop surveillance and resource optimisation. If realised, the partnership will not only unlock commercial projects and startups but also aim to deliver greater digital sovereignty for both nations by combining India’s engineering talent and market scale with the UAE’s investment capacity and infrastructure expertise. --- ## Common Mistakes to Avoid During Business Setup in Dubai - Takween Advisory - Forum URL: https://startupsmena.com/common-mistakes-to-avoid-during-business-setup-in-dubai-takween-advisory-forum-peacepink3-mpxc78ay Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** Starting a business in Dubai is a strong opportunity for entrepreneurs, startups, SMEs, and international investors. Dubai offers global connectivity, investor-friendly policies, modern infrastructure Starting a business in Dubai presents a compelling opportunity for entrepreneurs, startups, SMEs and international investors thanks to global connectivity, investor-friendly policy frameworks and access to UAE and international markets. But a post on the Peacepink3 forum by Takween Advisory warns that many founders trip over avoidable errors during company formation — from selecting the wrong jurisdiction to neglecting banking and compliance — which can generate extra costs, operational restrictions and restructures down the line. "A successful business setup in the Dubai process requires proper planning, correct documentation, and a clear understanding of mainland, free zone, and offshore options," Takween Advisory writes, framing the practical choices that determine whether an incorporation will be straightforward or fraught with delays and added expense. Common pitfalls identified by Takween Advisory Choosing the wrong business jurisdiction: mainland, free zone and offshore structures each carry distinct benefits and limits. Mainland setups give broader access to the UAE market but often require specific approvals, office space and activity-based documentation. Free zones can provide full foreign ownership and industry-specific incentives but must match the company’s activity and banking needs. Offshore entities typically serve holding, investment planning and cross-border transactions rather than local trading. Selecting the wrong business activity: the legal activity on a trade license must reflect actual operations. A mismatch can trigger bank account refusals, contracting problems, customs issues and costly license amendments. Opting for a free zone purely because it is cheap: advertised low-cost packages may limit visas, have restricted activity lists, cause banking challenges or carry higher renewal costs. Takween Advisory stresses total cost comparison, not only first-year fees. Ignoring corporate banking requirements: UAE banks conduct rigorous Know Your Customer and business-model checks. Investors often assume accounts follow automatically after license issuance; in reality, banks scrutinise shareholder backgrounds, source of funds, expected transactions and business documentation. Failing to plan visa and office needs early: visa quotas, establishment cards and office options vary by jurisdiction and package. Not forecasting investor, employee or dependent visa needs can lead to hiring limits, upgrade charges and immigration delays. Overlooking tax, renewal and compliance obligations: a trade licence is not a one-off event. Renewal cycles, permit compliance and sector-specific approvals require ongoing attention to avoid fines or operational disruption. Takween Advisory outlines practical checks investors should run before incorporation: confirm business activity approval, local market access, office requirements, visa eligibility, bank account support, renewal cost and long-term expansion plans. "Choosing the wrong jurisdiction can lead to license amendments, extra costs, operational restrictions, or the need to restructure the company later," the advisory adds. Outlook: for founders and investors eyeing company formation in Dubai, the forum post reinforces that careful alignment of jurisdiction, licensed activity, banking readiness and visa/office planning is central to a resilient launch. Takween Advisory positions itself as a facilitator — offering free zone comparisons, banking guidance and documentation support — to reduce the likelihood of costly downstream fixes and to smooth the path from licence to operation. --- ## Riyadh Air Finally Goes On Sale: Public London Flights Start July 1, 2026 URL: https://startupsmena.com/riyadh-air-finally-goes-on-sale-public-london-flights-start-july-1-2026-the-pointy-miles-mpxbja5h Date: 2026-06-03 Category: tech Tags: mena, startup **Summary:** After months of invite-only flights, the Saudi startup Riyadh Air (RIA) has now started selling tickets for public service beginning July 1, 2026 from Riyadh to London Heathrow. New airlines are annou Riyadh Air has opened public ticket sales for its inaugural scheduled service between Riyadh King Khalid International (RUH) and London Heathrow (LHR), with flights set to commence July 1, 2026. The Saudi startup, backed by the Public Investment Fund, will operate daily flights RX401/RX402 on the route — RX401 departs Riyadh at 02:35 and arrives in London at 07:30, while RX402 departs London at 09:35 and arrives back in Riyadh at 18:05 — after an invite-only “Pathway to Perfect” soft launch that started in October 2025. "I’m glad Riyadh Air has reached the point where travelers can fly with the airline," wrote Connor Clancy, who has been following the carrier closely for The Pointy Miles. Route, schedule and soft launch London Heathrow was a predictable choice for Riyadh Air’s first public destination: Heathrow’s status as a major international hub aligns with the carrier’s premium ambitions. The airline used invite-only flights beginning October 2025 to train crews, test operations and refine the passenger experience, operating an interim aircraft nicknamed "Jamila," an ex-Oman Air Boeing 787-9 fitted with Apex Suites in a 2-2-2 business configuration. Fleet and product plans Ordered fleet: 39 Boeing 787-9s (launch long-haul type), 60 Airbus A321neos (regional connectors), and 25 Airbus A350-1000s with additional purchase rights (future flagship). Current transition: Riyadh Air will move from the ex-Oman Air 787 used for soft-launch operations to its own aircraft featuring a bespoke onboard product for public routes. Business class: initial soft-launch cabins used Apex Suites, but Riyadh Air has signaled a more luxurious interior for aircraft delivered to its own specification. Fares, bundles and partnerships Early fares reflect a premium positioning. Business-class round trips between London and Riyadh price from about 27,000 SAR (roughly $7,200), while Riyadh-originating round trips appear to start around 18,500 SAR (roughly $4,930). Riyadh Air is using a tiered fare structure: Economy and Premium Economy feature Lite, Smart and Flex fares; Business class is offered in Smart, Flex and Elite packages. The "Business Elite" tier aims to function as a Business Plus or "First-class-light" product with preferred first-row seating and enhanced amenities. Riyadh Air has announced partnerships with Delta and Virgin Atlantic, but, as of the public launch, flights do not yet appear to be bookable through partner programs such as Delta SkyMiles or Virgin Atlantic’s systems. The carrier is also developing a hub experience in Riyadh, including the Hafawa Lounge, and plans a loyalty program called Sfeer. Outlook Riyadh Air faces strong competition from established Gulf and regional carriers including Emirates, Qatar Airways, Etihad and Turkish Airlines. Success will depend on whether the carrier’s new onboard product, Riyadh hub experience and the Sfeer loyalty program can match or exceed rivals on service, connectivity and value. Clancy notes the strategic logic of starting at Heathrow and highlights potential future expansion to North America — with New York JFK or Atlanta cited as likely early long-haul targets given the Delta partnership — positioning Riyadh as a one-stop gateway to Saudi Arabia, the Middle East and Asia if the airline can scale as planned. --- ## Neither Nigeria nor Kenya leads Bloomberg's African startup list URL: https://startupsmena.com/neither-nigeria-nor-kenya-leads-bloombergs-african-startup-list-mpx3r2a1 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Out of the big 4- South Africa, ... having 4 startups each, Egypt fell short, having one. Bloomberg Television’s Chief Africa Correspondent and Anchor further notes this, saying, “This list shows how Bloomberg’s 2026 Africa Startups to Watch list upends expectations that Nigeria or Kenya dominate the continent’s emerging tech scene. The second edition of the list features 25 privately held companies from 13 countries across 10 sectors, with Nigeria, Kenya and South Africa each placing four startups. Egypt registered a single entry. Bloomberg editors and Bloomberg Intelligence analysts compiled the ranking by assessing the scale of the problems the firms address, the originality of their approaches and their traction with investors and customers. “This list shows how businesses across the continent have increasingly mobilized local capital…” — Bloomberg Television’s Chief Africa Correspondent and Anchor. The correspondent added that almost half of the funding raised by companies on this year’s list came from African investors. Bloomberg’s list spotlights companies targeting gaps left by failing infrastructure or systems. Highlights include a mix of fintech, healthtech, logistics, climate resilience and security ventures. Below are representative entries and key facts from countries with multiple listings: Nigeria 10mg Health (Healthcare) — Founded 2022 by Christian Nwachukwu; provides capital access to hospitals and pharmacies using medical and behavioral data. Remedial Health (Healthtech) — Founded 2021 by Samuel Okwuada and Victor Benjamin; backed by Tencent and has helped finance “tens of millions of dollars’” worth of medicines across Africa’s fragmented distribution system. Sycamore (Fintech) — Founded 2019 by Babatunde Akin-Moses; digital lending and investment products, expanding into the UK to serve diaspora customers. Terra Industries (Security) — Founded 2024 by Nathan Nwachuku and Maxwell Maduka; develops mid-range unmanned aerial systems, has raised $34 million and is backed by 8VC (linked to Palantir co-founder Joe Lonsdale); building a second manufacturing facility in Ghana. South Africa Amesect (Waste management) — Founded 2023 by Elsje Pieterse, Brendes Gresse and Dave Stewart; converts organic waste into fertilizer and animal feed. Aura (Health and Security) — Founded 2017 by Warren Myers and Ryan Green; raised $14.5 million in Series B from the Cathay AfricInvest Innovation Fund. Jem (HR) — Founded 2020 by Simon Ellis and Caroline van der Merwe; WhatsApp-based HR tools serving ~200,000 workers across 200 companies including McDonald’s franchise operators. Omnisient (Fintech) — Founded 2019 by Jon Jacobson and Anton Grutzmacher; uses AI and alternative consumer data, backed by TransUnion, Arise and Shoprite Holdings. Kenya BuuPass (Transport) — Founded 2016 by Sonia Kabra and Wyclife Omondi; ticket search and booking across informal travel networks, backed by Founders Factory Africa and Google Black Founders Fund. Leta (Logistics) — Founded 2021 by Nick Joshi; real-time delivery planning backed by the Google Africa Investment Fund. Oye (Fintech) — Founded 2022 by Kevin Mutiso; bundles accident insurance and credit with fuel purchases for boda boda drivers, backed by Britam Holdings and targeting one million driver enrolments. WorkPay (HR) — Founded 2019 by Paul Kimani and Jackson Kungu; payroll-to-HR platform operating in more than 30 African countries, has raised over $10 million and is backed by Visa, Norrsken22 and Y Combinator. Other notable entries include Egypt’s WideBot (Arabic-first conversational AI founded by Mohamed Nabil and Mohamed Mostafa), Mauritius’ AzamPay (Firas Ahmad and Abubakar Bakhresa), Tanzania’s Black Swan (Derick Kazimoto and Rwebu Mutahaba) and Madagascar’s Bôndy, which has grown without external equity. Bloomberg’s list follows a recent Financial Times ranking that also distributed recognition beyond a single national hub — the FT list had South Africa with ten entries, Nigeria nine, Kenya three and Egypt two. With almost half of the capital reported as coming from African investors and firms like Terra Industries expanding manufacturing to Ghana, the list underscores a shift toward locally mobilised funding and on-the-ground scaling. For the startups named, the immediate outlook centres on converting investor interest into customer traction, cross-border expansion and deeper penetration of under-served markets across the continent. --- ## Saudi Arabia fuels filmmaking ambition with generous production rebates URL: https://startupsmena.com/saudi-arabia-fuels-filmmaking-ambition-with-generous-production-rebates-semafor-mpx3o5fp Date: 2026-06-02 Category: other Tags: saudi-arabia, entertainment, film-production, incentives, funding **Summary:** Saudi Arabia raised production rebates to as much as 60% to attract international film and TV projects, but producers report difficulties collecting payments and confusion around the claims process; one producer reportedly set up a Saudi-based intermediary to help foreign studios navigate the system. Saudi Arabia has increased production rebates to as much as 60%, a move announced in late May that places the kingdom “among the most generous in the world” as it seeks to attract international film and television projects to its coastlines, deserts, mountains and rapidly transforming cities, according to a Semafor report published June 2, 2026. The incentive boost aims to accelerate the growth of local film production, but producers say collecting the rebates can be difficult and confusion about the payment process has slowed the industry’s development. “collecting those funds can be difficult, and confusion about the process has slowed the industry’s development,” wrote Mohammed Sergie in Semafor’s coverage of the story. Industry stakeholders and producers have raised practical concerns about the administration of the rebate program. Semafor cites reporting from Puck that one producer has gone so far as to launch a Saudi-based company dedicated to helping foreign studios navigate the kingdom’s system and ensure they receive promised payments. The move illustrates how barriers in execution — not headline incentives — are shaping early responses from the global production community. Details and local strategy Rebate level: up to 60% — raised in late May and described by Semafor as among the most generous globally. Reported friction: producers report difficulty collecting rebates and confusion about the claims process, per Semafor. Intermediary response: a producer reportedly established a Saudi-based company to “help foreign studios navigate the system and get paid,” according to Puck as cited by Semafor. Broader ecosystem: the film incentive is part of a wider entertainment strategy that includes cinemas, streaming, gaming and media, with aims to create jobs and bolster the kingdom’s international image. The rebound effort comes amid mixed outcomes for high-profile Saudi-backed film projects, and Semafor notes that while film production alone is unlikely to become a pillar of the Saudi economy, it plays a strategic role within a broader cultural and economic agenda. The sector is being cultivated alongside investments in cinemas, streaming platforms, gaming and other media industries, with policymakers highlighting job creation and reputation gains. For foreign producers, the generous rebate headline is attracting interest, but the practicalities of collection and local compliance are shaping decisions on whether to shoot in the kingdom. As Semafor reports, incentives have succeeded in drawing attention to Saudi locations and capabilities — but execution problems could blunt momentum unless addressed. Looking ahead, industry watchers say the government will need to streamline administrative procedures and clarify payment pathways if the rebate program is to translate into sustained production activity. There will likely be some takers attracted by the financial terms, but for the nascent Saudi film sector to flourish the state must make “the business of show business” easier and more predictable, a point underscored throughout Semafor’s reporting. --- ## UAE Boosts Initiatives to Develop AI Unicorn Companies URL: https://startupsmena.com/uae-boosts-initiatives-to-develop-ai-unicorn-companies-intlbm-mpwywwjo Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Artificial Intelligence is fundamentally reshaping industries worldwide, and the UAE has embraced this technological revolution. Today, the sand dunes of the desert nation are witnessing an unpreceden The United Arab Emirates is escalating a coordinated push to convert its fast-growing artificial intelligence sector into a pipeline of unicorn companies, driven by the National AI Strategy 2031, a dedicated ministerial portfolio, sovereign wealth funds and international technology partnerships. Today the Emirates counts three AI unicorns—AI.TECH, Xpanceo and G42—and industry and government data point to rapid ecosystem expansion: Abu Dhabi hosts 673 AI companies (a 61% year‑on‑year rise), Dubai serves as a global hub for a majority of firms, and the UAE captured roughly 60% of larger MENA AI funding in recent cycles. "66% of Artificial Intelligence companies use Dubai as their global hub," the Dubai Centre for Artificial Intelligence (DCAI) found, underscoring the emirate's role as a commercial and operational centre for applied AI. That concentration is reflected in multiple metrics. Abu Dhabi’s AI cluster was valued at about $4.3 billion in 2025 and is anchored by G42, described in the market as a $23 billion unicorn with Microsoft as a strategic investor and Mubadala among its backers. G42, founded in 2018 and specialising in healthcare, aviation, energy and government solutions, reported roughly USD 149.7 million in revenue and, according to the company profile, "has built its business with no outside investment." During Prime Minister Narendra Modi’s official state visit to Abu Dhabi in May 2026, His Highness Sheikh Mohamed bin Zayed Al Nahyan and Mr. Modi witnessed cooperation between H.E. Mansoor Al Mansoori, CEO of G42 International, and Mr. Vikram Misri, India’s Foreign Secretary, highlighting the firm’s geopolitical and commercial reach. Dubai is pushing complementary strengths in applied AI across commerce, finance and logistics and has set an explicit target with its "Unicorn 30" plan. The city aims to add high‑value tech companies with strategic support from institutional investors including Mubadala, Silver Lake and Opportunity Venture. Xpanceo entered the unicorn club in a marquee deal after a $250 million Series A led by Opportunity Venture that brought its valuation to $1.35 billion; the deep‑tech startup has raised $290 million to date for its weightless smart contact‑lens interface for AI‑powered XR computing. AI.TECH, founded in January 2022, is a bootstrapped firm now valued at about $1.5 billion focused on AI automation, enterprise platforms and incubation services. Abu Dhabi: 673 AI companies, 150 new firms launched in H1 2025 (Abu Dhabi Chamber) Hub71 startups: $6.6 billion raised across 514 rounds in 2025 AMI Labs: raised over $1 billion Market projection: UAE AI market from $3.47 billion (2023–24) to $46.33 billion by 2030 (Trends Research and Advisory) Policy targets add urgency: the UAE aims for AI to contribute 20% of non‑oil GDP by 2031. Key sectors attracting investment include fintech, enterprise software, healthcare, smart cities and Arabic natural language processing. With a reported 14 unicorn startups across sectors already in the UAE and targeted programs to accelerate AI firms, officials and investors are positioning the Emirates as a launch pad between Eastern and Western markets — a commercial bridge designed to scale local deep‑tech companies into global unicorns over the remainder of the decade. --- ## Dubai Entrepreneur Urges Brands to Stop Creating Content for Algorithms and Build Long-Term Business Narratives URL: https://startupsmena.com/dubai-entrepreneur-urges-brands-to-stop-creating-content-for-algorithms-and-build-long-term-business-mpwwhrxo Date: 2026-06-02 Category: other Tags: uae, marketing, creative-agency, self-funded, candace-braganza **Summary:** Dubai-based Candace Braganza, founder of Sculpt25 Creative, urges brands to stop chasing algorithms and build long-term business narratives as her self-funded agency helps founders scale with strategic campaigns. Dubai-based entrepreneur Candace Braganza is urging brands to stop tailoring content solely to appease platform algorithms and instead focus on building long-term business narratives. Braganza, founder of Sculpt25 Creative , says the agency — launched in 2021 and self-funded from the outset — was born from her own experience running an e-commerce pet products business in the UAE and confronting marketing problems that visuals alone could not solve. Her clients include Boho Salon, Zabeel House, Thea Restaurant, More Cafe, Savoir Health and City Dog. (Photo credit: Virendra Saklani/Gulf News) “It didn’t start as a business idea, it started as a problem I was experiencing myself,” Braganza told Gulf News, explaining how the gap she observed was not a lack of effort but a lack of direction: “I realised the gap wasn’t effort, it was direction.” Braganza began her professional journey in the corporate world before moving into entrepreneurship after adopting a German Shepherd, Darko, and launching a pet product venture. As she handled photography and social media in-house, she noticed stockists and small brands were producing frequent content without seeing proportional returns. “They didn’t just need great visuals; they needed a sustainable, strategic marketing approach,” she said, describing the pivot from delivering images to building marketing strategies. Sculpt25 Creative now positions itself as a strategic creative agency offering photography, branding, social media management and marketing strategy. Braganza said the company evolved from a one-woman photography shop into a business thinking in campaigns rather than single shoots: “I started purely as a photographer, focused on delivering content. But as I started working with more brands… a shift happened.” She emphasised the firm’s current philosophy of “thinking in campaigns, not shoots” and “delivering strategy, not just images.” Business model and market context The agency operates across hospitality, beauty, wellness and personal branding, reinvesting early client revenue and proceeds from previous ventures to grow without outside capital. “The business has been self-funded from the beginning,” Braganza said. She also credited the UAE ecosystem for easing company formation and helping build networks through referrals and collaborations: “The UAE makes it very easy to start a business.” Founded: Sculpt25 Creative, 2021 Founder: Candace Braganza Clients: Boho Salon, Zabeel House, Thea Restaurant, More Cafe, Savoir Health, City Dog Service focus: Photography, branding, social media management, marketing strategy Braganza moved to Dubai during university, completed further studies including a master’s in the UAE, and cited the city’s combination of safety, opportunity and mindset as reasons to build her business there: “What stood out back then — and is still the case — is the combination of safety, opportunity, and mindset. As a woman, the sense of safety is unmatched.” Personal priorities also influenced her career path; she left a traditional nine-to-five partly because she “didn’t want to spend most of my day away while my dog was at daycare,” and now brings Darko to the studio. Outlook Looking ahead, Braganza says Sculpt25 aims to move beyond a founder-led model and become a more established agency, with the possibility of seeking external funding in future. She urged new entrepreneurs to plan for scale and structure rather than rely on personal capacity alone: “Many founders focus on launching without thinking about how to truly scale or structure the business long-term. If your business depends entirely on you, it’s not scalable.” --- ## Abu Dhabi Launches ‘Mawthooq’ Platform To Manage Delegated Laboratories - Abu Dhabi Blog URL: https://startupsmena.com/abu-dhabi-launches-mawthooq-platform-to-manage-delegated-laboratories-abu-dhabi-blog-mpwsu2oe Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Abu Dhabi Quality and Conformity Council has launched Mawthooq, the integrated central digital platform for managing delegated and accredited laboratories in Abu Dhabi. The launch marks a strategic st Abu Dhabi Quality and Conformity Council has launched Mawthooq, an integrated central digital platform to manage delegated and accredited laboratories across Abu Dhabi. The platform automates laboratory-related workflows — including submission and renewal of delegation applications, accreditation data tracking, audit management, non‑conformity case handling and payment e‑services — and includes a service directory, interactive dashboards and more than 10 specialised digital services aimed at strengthening testing reliability across sectors such as building and construction, industry, health and environment. “Mawthooq contributes to improving the efficiency of the laboratory sector and streamlining its procedures, thereby enhancing the reliability of testing results and increasing the confidence of investors and partners in the quality of work across the building and construction sector and services within Abu Dhabi and the UAE. This, in turn, reflects positively on sustainable economic growth,” said Eng. Fahad Gharib Al‑Shamsi, Acting Secretary‑General of Abu Dhabi Quality and Conformity Council. Context and platform details The council presented Mawthooq as a strategic step to advance Abu Dhabi’s quality infrastructure ecosystem and to consolidate the emirate’s role as a regional hub for quality and digital transformation. Eng. Bader Khamis Al‑Shmeili, Executive Director of the Conformity and Standards Services Sector at the Council, described the platform as a “qualitative leap” that provides a unified digital solution connecting the council, delegated laboratories and relevant government entities. Mawthooq is designed to support the Central Testing Laboratory affiliated with Abu Dhabi Quality and Conformity Council and laboratories delegated by the council. The platform’s capabilities, as outlined by the council, include end‑to‑end automation of laboratory delegation processes, transparent management of audits, centralised tracking of accreditation data, and an integrated payments mechanism to speed administrative procedures. Submission and renewal of delegation applications Tracking of accreditation and audit processes Management of non‑conformity cases Payment procedures and related e‑services Comprehensive service directory and interactive dashboards More than 10 specialised digital services for compliance and quality The council said Mawthooq also aims to raise awareness among regulatory and government entities, the private sector and the community about the importance of conducting testing through authorised channels to bolster confidence in product and service quality across markets. By improving transparency, integration and data exchange, the platform seeks to reduce administrative friction and ensure consistent application of testing standards. Outlook Officials framed Mawthooq as part of the council’s broader push to accelerate digital transformation and enhance the investment environment in Abu Dhabi. Beyond operational efficiencies, the council expects the platform to increase investor confidence in test results and to support sustainable economic growth by reinforcing quality controls in critical sectors. As the platform rolls out, its effectiveness will be measured by uptake among delegated laboratories, improvements in audit turnaround times, and the degree to which it facilitates data sharing among the council, laboratories and government stakeholders. --- ## Founder says he left India for Dubai over systemic failure: 'I earn 100 times more, family is safe'- Moneycontrol.com URL: https://startupsmena.com/founder-says-he-left-india-for-dubai-over-systemic-failure-i-earn-100-times-more-family-is-safe-mone-mpwsrf2q Date: 2026-06-02 Category: tech Tags: uae, tech, founder-migration, regulatory-risk, qubesys, soumendra-jena **Summary:** Soumendra Jena, founder of Dubai-based QubeSys, says he relocated from India to Dubai in 2021 citing systemic and regulatory issues and claims his earnings and family security have improved dramatically. Soumendra Jena , founder of Dubai-based QubeSys , says he left India in 2021 because “the system no longer made sense” and that the move has transformed both his earnings and his sense of security. In a post on X reacting to a report about a 27‑year‑old founder relocating from Bengaluru, Jena — who says he has over 18 years of experience across tech, telecom and finance — wrote that he now “earn[s] 100 times more” than in India while keeping his family safe. "I left India in 2021 because the system no longer made sense, it works only for those who can fund political parties," Jena wrote on X. "You cannot run an ethical business there; the consumer pricing act is a joke. Anyone can shift the needle overnight, and your crores of investment can drop to zero ROI." Context and details Jena’s remarks, first reported by Moneycontrol and published by Ankita Sengupta on June 2, 2026, came amid a broader online debate about founders and professionals relocating to Gulf hubs such as Dubai. He framed his departure as a response to systemic pressures in India, including regulatory unpredictability and what he described as a business environment that favours politically connected capital. Experience and background: Jena identifies more than 18 years across technology, telecom and finance and now operates from Dubai as an entrepreneur and investor. Regulatory concerns: He singled out the consumer pricing act as problematic and warned that sudden regulatory shifts can erase significant investments, saying “your crores of investment can drop to zero ROI.” Financial impact: Jena claimed a dramatic improvement in personal earnings after relocating: “Now I earn 100 times more than I did in India while keeping my family safe.” Reactions on social media Jena’s post drew mixed but largely supportive responses on X. Several users echoed concerns about ease of doing business in India and the risks founders face. Comments highlighted structural friction and alleged informal funding practices linked to politics. Supportive response: “Most of us are happy for you, it's best that you have got opportunity to move out to place where your hard work is encouraged,” one user wrote. Systemic critique: Another user said, “Too high a risk, too high a barrier in terms of ease of doing business. Too outdated a system with no intention of improving it.” Allegations of political funding models: A comment referenced “chandha dhandha,” suggesting politically linked fundraising dominates in some cases. Outlook Jena’s comments add to an ongoing conversation about migration of Indian founders to hubs like Dubai, driven by factors such as tax regimes, regulatory clarity and access to global markets. His experience underscores the tensions many entrepreneurs cite when weighing where to base operations: regulatory certainty and personal security versus ties to home markets. Whether such individual departures will prompt policy responses or broader shifts in investor sentiment remains part of a larger national debate on ease of doing business and startup sustainability. --- ## Nigeria - UAE’s First Abu Dhabi Bank, Etihad Airways to Start Nigeria Operations Soon URL: https://startupsmena.com/nigeria-uaes-first-abu-dhabi-bank-etihad-airways-to-start-nigeria-operations-soon-nigerian-bulletin--mpwjzrj2 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** UAE envoy announces First Abu Dhabi Bank will set up in Lagos, Etihad Airways to fly to Abuja, visa restrictions eased, non‑oil trade targets $8bn by 2027. The United Arab Emirates is moving to deepen its economic and transport ties with Nigeria, with the UAE ambassador to Nigeria, Salem Saeed Al‑Shamsi, announcing that First Abu Dhabi Bank (FAB) will establish operations in Lagos and that Etihad Airways will begin direct flights to Abuja later this year. The envoy also said visa restrictions for Nigerian travellers have been significantly eased and that non‑oil trade between the two countries rose sharply, with a stated target of $8 billion by 2027. "First Abu Dhabi Bank (FAB) plans to establish operations in Lagos," Salem Saeed Al‑Shamsi said, underscoring the UAE's intent to expand its financial footprint in Nigeria. The announcement, reported by local outlets including Business Day and TheCable, signals potential shifts in banking competition and international connectivity. FAB is the largest bank in the UAE, and its entry into Lagos — Nigeria's commercial capital — could alter the landscape for corporate banking, trade finance and remittance flows. The ambassador also confirmed that Etihad Airways, one of the UAE's national carriers, will commence flights to Abuja later this year, a development that could ease travel for business, diplomatic and tourism exchanges between the two countries. Key developments and figures Banking: First Abu Dhabi Bank (FAB) plans to open operations in Lagos, introducing the UAE's largest lender to Nigeria's financial market. Aviation: Etihad Airways is scheduled to launch direct flights to Abuja later this year, according to the UAE ambassador. Visas: Visa restrictions for Nigerian travellers have been "significantly eased," with the ambassador noting there have been no rejections recorded recently. Trade: Non‑oil trade rose from $4.3 billion in 2024 to $5.0 billion in 2025, with a bilateral target of $8 billion by 2027. Security and agreements: The UAE reaffirmed security cooperation and highlighted the importance of implementing a comprehensive economic partnership agreement to deepen ties. Officials say the combination of a major UAE bank entering Lagos and a new direct air link to Abuja could reduce transaction frictions and lower the cost and stress of travel for business delegations and tourists. The easing of visa restrictions — described by the ambassador as having produced "no rejections recorded recently" — may further encourage Nigerian students, investors and leisure travellers to the UAE. Beyond immediate commercial gains, the figures on non‑oil trade point to a broader strategic aim: diversifying economic relations away from oil. Trade growth from $4.3 billion to $5 billion in a year and a stated $8 billion objective by 2027 will depend on practical implementation of the comprehensive economic partnership agreement and continued cooperation on security, logistics and regulatory alignment. As FAB prepares market entry and Etihad finalises schedules for Abuja services, attention will turn to regulatory approvals, licensing timelines and the operational details of the airline's route. For now, the announcements mark a clear signal of intent from the UAE to deepen commercial engagement with Africa's largest economy, with officials from both sides expected to focus on turning these commitments into concrete projects and investments. --- ## Sphere Abu Dhabi to open on Yas Island by 2029 URL: https://startupsmena.com/sphere-abu-dhabi-to-open-on-yas-island-by-2029-mpwilel1 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** These include Sphere Experiences, ... and conferences to product launches and corporate gatherings. Plans for the venue also place a strong emphasis on local culture. While the entertainment programme Abu Dhabi will host the world's second Sphere venue on Yas Island, a US$1.7 billion project announced by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) in partnership with Sphere Entertainment. The spherical venue will be built between Yas Mall and SeaWorld Abu Dhabi, close to Ferrari World and Warner Bros. World, and is expected to be completed by the end of 2029. Once operational the venue will accommodate up to 20,000 people depending on event configuration and is projected to create thousands of jobs while drawing international visitors through its proximity to Zayed International Airport. “Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment. In a region where the appetite for world-class experiences continues to grow, our US$1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction,” said His Excellency Mohamed Khalifa Al Mubarak, chairman of DCT Abu Dhabi. “This project reflects the strength of Abu Dhabi’s international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination. Together, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come. And at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built.” James L. Dolan, executive chairman and CEO of Sphere Entertainment, framed the project as part of a wider roll‑out for the company: “Sphere Abu Dhabi is the first step in realising our vision for a global network of venues. Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere. Sphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life.” Project scope and programming The venue will combine the advanced visual, audio and sensory technologies that made the original Las Vegas Sphere — which opened in September 2023 — a global talking point, with programming designed to reflect local culture. DCT Abu Dhabi says Sphere Abu Dhabi will host three core categories of programming: Sphere Experiences — immersive productions using multi‑sensory storytelling technology, with future editions set to showcase Emirati heritage and storytelling; Concert residencies — featuring major international artists alongside regional performers; Large‑scale events — including sporting competitions, conferences, product launches and corporate gatherings. The venue’s Exosphere, a giant spherical LED exterior, will be programmed to display work by Emirati artists, underlining a stated emphasis on local culture and talent. Delivery, partners and strategic context DCT Abu Dhabi said the project will be supported by a range of government and infrastructure partners to integrate roads, transport links and supporting utilities with surrounding attractions on Yas Island. Named collaborators include the Department of Municipalities and Transport, Abu Dhabi Mobility, the Department of Energy, Taqa, Etihad Rail and Aldar. Sphere Abu Dhabi is being positioned as part of a broader transformation of the emirate’s visitor economy alongside developments such as the Saadiyat Cultural District and the recently announced Disney theme park resort on Yas Island. The venue is also expected to become a high‑visibility landmark during globally broadcast events, including the Formula 1 Etihad Airways Abu Dhabi Grand Prix, increasing international exposure for Yas Island and Abu Dhabi. Construction is slated to run through 2029, after which the new Sphere will begin hosting immersive experiences, concerts and major global events. --- ## Q Mobility launches Smart Paid Parking System through Darb App URL: https://startupsmena.com/q-mobility-launches-smart-paid-parking-system-through-darb-app-intlbm-mpwfhqbm Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** This launch comes as part of Q Mobility’s ongoing efforts to expand smart parking solutions across Abu Dhabi through the gradual activation of the service in several city sectors and selected private Q Mobility has launched a Smart Paid Parking System in Abu Dhabi that enables automatic deduction of parking fees through the Darb app wallet, the company announced on June 2, 2026. The new Free Flow Paid Parking System uses artificial intelligence and automatic license plate recognition to start a parking session on vehicle entry and automatically calculate and deduct fees from the Darb wallet on exit, eliminating the need for SMS, payment machines, QR codes or other manual actions. "This provides users with a smart, seamless, and effortless parking experience," Q Mobility said, describing the service that removes paper tickets and cash transactions while integrating smart infrastructure with the Darb digital ecosystem. The deployment relies on an advanced technological stack designed to automate entry, capture licence plates, and handle transactions without driver intervention. According to the announcement published by International Business Magazine (intlbm.com), parking sessions begin automatically upon vehicle entry and fees are calculated and deducted directly from the Darb wallet upon exit. Q Mobility emphasised users must maintain sufficient balance in the Darb e-wallet before using the service "to ensure a smooth automatic payment experience and avoid parking fines." The company framed the rollout as a multi-stage expansion across Abu Dhabi. In its initial phase, the service will be available in several key locations including multi-storey parking facilities and selected private parking areas, with plans for gradual activation in additional city sectors and private parking locations across the emirate. Technology: artificial intelligence and automatic license plate recognition to automate sessions and payments. Experience: automatic start on entry and auto-deduction from Darb wallet on exit — no SMS, QR codes, or payment machines. Operational benefits: elimination of paper tickets and cash, improved parking management efficiency, and reduced friction for users. Q Mobility framed the project as part of its broader effort to expand smart parking solutions across Abu Dhabi and to support "the transition toward more efficient and integrated digital mobility services within the emirate." The company emphasised the initiative's role in encouraging the adoption of digital payment solutions and artificial intelligence within urban mobility infrastructure. For drivers, the immediate practical considerations are straightforward: ensure the Darb wallet has sufficient funds to avoid penalties and enjoy the automated, contactless parking flow. For operators and city planners, Q Mobility positions the system as a solution to improve operational efficiency and reduce the logistical challenges associated with traditional payment methods. Looking ahead, Q Mobility plans gradual expansion to additional sites across Abu Dhabi, reinforcing the emirate's push toward integrated digital mobility services. The company described the rollout as a reflection of its "commitment to transforming innovation into practical solutions that have a direct impact on community life," aiming to enhance comfort, transparency and operational efficiency for residents and visitors alike. --- ## Top 5 Business Setup Consultants in Dubai (2026 Updated List) URL: https://startupsmena.com/top-5-business-setup-consultants-in-dubai-2026-updated-list-mpwfesm3 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** MSZ Consultancy is one of the top choices for entrepreneurs looking for complete business setup support in Dubai. The company helps investors, startups, SMEs, and international entrepreneurs set up bu Dubai's company formation landscape continues to draw entrepreneurs and international investors, but choosing the right business setup consultant remains critical. A recent roundup identifies the top five consultants to consider in 2026: MSZ Consultancy, Shuraa Business Setup, Creative Zone , Virtuzone and Commitbiz. Each firm is positioned to guide clients through jurisdiction choice, trade licensing, visa requirements, banking and post‑formation compliance across mainland, free zone and offshore routes. "MSZ Consultancy is one of the top choices for entrepreneurs looking for complete business setup support in Dubai." That endorsement reflects the broader market view in the report: selecting the correct business activity and jurisdiction, planning office or flexi‑desk needs, and understanding visa and banking suitability are as important as obtaining a trade license. "A good consultant helps you avoid wrong license selection, hidden costs, banking delays, and renewal issues," the source summary notes, underscoring why many founders opt for full‑service advisers rather than handling formation alone. MSZ Consultancy — The report highlights MSZ as a full‑service option that "helps investors, startups, SMEs, and international entrepreneurs set up businesses across Dubai mainland, free zones, and other UAE jurisdictions." Its stated services include company formation, trade license assistance, visa processing, banking support, documentation, PRO services and compliance guidance. The firm also advises on business activity selection, trade name reservation, initial approval, Emirates ID and medical processing, corporate bank account guidance and license renewal. Shuraa Business Setup — Described as an established provider, Shuraa offers mainland, free zone and offshore formation, trade licenses, visa processing, PRO services, local sponsorship guidance and office solutions. The company is recommended for entrepreneurs seeking a long‑standing market presence and a broad spectrum of formation services. Creative Zone — Positioned for startups, freelancers and SMEs, Creative Zone provides company formation, business licensing, visa assistance, tax and accounting support, banking guidance and advisory services. The report highlights its startup‑focused approach and support for early‑stage business growth. Virtuzone — Identified as a large UAE formation specialist, Virtuzone supports mainland, free zone and offshore company setup and offers post‑setup services including accounting, tax, compliance and PRO support, as well as bank account assistance. Commitbiz — Presented as a consultancy that helps entrepreneurs compare Dubai with other UAE and GCC options, Commitbiz provides company formation services across Dubai and other jurisdictions. Beyond individual profiles, the roundup stresses practical decision points for founders: not every business needs the same license (for example, a professional license versus e‑commerce or trading permissions), and some investors require immediate visa and bank account support. MSZ is singled out as "best for entrepreneurs who want clear advice, end‑to‑end support, and a properly structured Dubai company from the beginning," with particular relevance to foreign investors, Indian entrepreneurs, consultants, traders, e‑commerce founders, service providers and SMEs. Looking ahead, entrepreneurs entering Dubai are likely to continue relying on specialist consultants to navigate paperwork, approvals and banking. The five firms listed provide a range of scale and specialization — from startup advisory to comprehensive, after‑formation back‑office services — allowing founders to match a service provider to their business model, budget and long‑term plans. --- ## Best Investments in UAE: The Complete (2026) Guide URL: https://startupsmena.com/best-investments-in-uae-the-complete-2026-guide-financial-planning-in-dubai-mpwcx2f4 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Discover the best investments in UAE for expats in 2026 — real estate, stocks, mutual funds, bonds, gold & portable plans. Build wealth with the GAiM Plan. Expats gearing up to invest in the UAE in 2026 will find a tax-efficient market with a wide range of accessible asset classes, clear residency-linked property thresholds and established advisory frameworks to help turn savings into passive income. "The best time to plant a tree was 20 years ago. The second-best time is now." — Chinese proverb The UAE imposes no personal capital gains or income tax on investment returns for individuals, a factor the source highlights as central to the appeal for expatriates. Gross residential rental yields averaged around 5.45% across the UAE in late 2025, with Dubai apartments reaching as high as 7%. Property purchases of at least AED 750,000 can qualify buyers for a renewable residency visa, while investments of AED 2 million or more can make investors eligible for a ten-year Golden Visa. How the main asset classes stack up Real estate: Full foreign ownership is available in designated freehold areas. Property is described as capital-intensive and relatively illiquid but remains a leading source of rental income and residency benefits. Stocks: Residents can trade locally on the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) and Nasdaq Dubai, or access global markets through regulated UAE platforms and international brokers — including the NYSE, NASDAQ, NSE and BSE, as well as exchanges in London, Frankfurt and Paris. Mutual funds: More than 30 funds are domiciled with the Securities and Commodities Authority (SCA), and international managers such as BlackRock, Fidelity, JP Morgan and Franklin Templeton offer AED- and USD-denominated products. The guide recommends systematic investment plans (SIP) for regular saving but cautions investors to "watch the fees, as charges directly reduce your returns." ETFs: Exchange-traded funds are presented as a low-cost, transparent core for many portfolios, with ready access to trackers for the S&P 500, Nasdaq 100, MSCI World and FTSE India, among others. Bonds and sukuk: Available via global listings and pooled bond products, these are cited as income-generating, lower-volatility complements to equities. Gold: Options include physical bullion, gold ETFs and mining equities; the metal is framed as a hedge in downturns and inflationary periods though it produces no income. Portable plans for expats: Retirement and education plans that can be carried across borders are highlighted as especially valuable for mobile careers. The source positions the GAiM Plan — a four-step planning, advisory and portfolio-management system offered by an independent financial adviser in Dubai — as a practical way to convert objectives into invested portfolios. Its modules include the "Goal Positioning System (GPS) — know exactly where you stand and where you want to go," followed by an Action Plan, Implementation and Measuring Progress. The site also offers a free GAiM Plan discovery call and links to a dedicated passive-income guide titled Passive Income in UAE: 8 Proven Ways to Earn in 2026. Outlook: For expats focused on preserving purchasing power and building passive income, the UAE’s combination of tax neutrality, access to global markets and a mix of local products — from real estate residency incentives to SCA-domiciled funds and low-cost ETFs — creates a toolkit for long-term financial planning. The emphasis in the guide is pragmatic: secure a financial foundation, accelerate growth through diversified investments, and then shift to preservation and estate planning as goals are reached. --- ## The Dubai Riviera has been reduced to a millionaire ghost town... but amid the empty restaurants, abandoned supercars and echoey champagne brunches, smart investors are already swooping in. Here's why URL: https://startupsmena.com/the-dubai-riviera-has-been-reduced-to-a-millionaire-ghost-town-but-amid-the-empty-restaurants-abando-mpwc87s2 Date: 2026-06-02 Category: other Tags: uae, tourism, hospitality, investors, real-estate **Summary:** Dubai’s Riviera, including spots like La Mer's J1 Beach, has been left eerily quiet after missile and drone strikes, with restaurants and beach clubs offering heavy discounts to lure visitors. Despite the downturn, the article notes that opportunistic investors are already looking to capitalise on lower prices and empty venues. Dubai’s famed Riviera has been left a “millionaire ghost town” after Iranian missiles and drones struck the United Arab Emirates in late February, the Daily Mail reports, emptying beach clubs, luxury restaurants and terraces that once required reservations weeks in advance. While a number of expat Britons and other long‑term residents have returned, popular landmarks, hotels and restaurants have failed to recapture the huge international footfall that previously animated areas such as J1 Beach in La Mer. "In La Mer's J1 area, all the beach clubs and venues have special offers, free entry for ladies and fully redeemable entry charges for men," a Dubai influencer told the Mail. "You can feel they're struggling and it will get worse as summer starts. These are places which you couldn't even get into." Empty tables, heavy discounts and a shattered image The Mail’s visit to J1 Beach found venues offering free entry, heavy discounts and complimentary tables to coax customers back. Sakhalin, billed as Dubai's most expensive fish restaurant and normally booked weeks ahead, was largely deserted: clients can expect to pay about £180 per person for lobster, crab and other crustaceans flown in from the seas off eastern Siberia, but when the Mail visited only one table was occupied by "a Russian‑speaking man and his elegant companion." The terrace sat empty and there were no swimmers in the sea. Across the strip, the African Queen restaurant and resort has started offering free sunbeds on its private beach provided customers promise to buy food and drink. "The restaurant is not busy because of the situation," guest relations manager Michelle Sartini told the Mail. "We are trying to do everything to get trade. When the war started, it was very frightening. A lot of cities were affected a lot worse than Dubai, but no one expected there to be missiles landing here – even if it was only a few." A young Italian visitor echoed the shock many felt: "The bombing was terrifying. You could see the rockets coming across the sea at night and hear the explosions. No one expected this in Dubai. We all considered it to be like Europe. Now, sadly, we have been reminded it is the Middle East." Prices, offers and what visitors are seeing Sakhalin: roughly £180 per person for premium seafood sourced from eastern Siberia. Wine examples cited: a Vinho Verde from Portugal at about £100, and a Montrachet Grand Cru from Burgundy at about £4,700. Fresh fish menu items include river pike and a whole turbot for about £40. Promotions: free entry for women, fully redeemable entry charges for men, free sunbeds with a food or drink purchase. For venues built on the spectacle of packed terraces and echoing champagne brunches, the sudden change is stark. The Mail notes that while some long‑term residents have returned to the tax‑free emirate, the broader international tourism patterns that sustained the Riviera's glitzy economy have not yet recovered. With summer approaching, local operators say the pressure on trading conditions may intensify as they roll out more offers to attract a smaller pool of visitors. --- ## Q Mobility launches Free Flow Paid Parking System with auto deduction via Darb Wallet URL: https://startupsmena.com/q-mobility-launches-free-flow-paid-parking-system-with-auto-deduction-via-darb-wallet-mpwayod6 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Home page>PRESS RELEASE>Companies News>Q Mobility launches Free... ... Abu Dhabi, United Arab Emirates – Q Mobility announced the launch of a new smart parking experience in Abu Dhabi, enabling auto d Q Mobility has launched a Free Flow Paid Parking System in Abu Dhabi that enables automatic deduction of parking fees from users’ Darb app wallet, the company announced. The new service uses artificial intelligence and automatic license plate recognition to start parking sessions on vehicle entry and calculate fees to be deducted directly from the Darb e‑wallet on exit, removing the need for SMS, payment machines, QR codes, paper tickets or cash. "The Free Flow Paid Parking System provides a smoother and easier parking experience for users through a smart operational system that enables automatic parking registration and fee deduction via the Darb wallet," Q Mobility said in its announcement, highlighting the contactless, automated nature of the rollout. How the system works Automatic session start: The parking session initiates automatically when a vehicle enters a managed facility using automatic license plate recognition. Auto payment via Darb: Fees are calculated and deducted from the user’s Darb e‑wallet upon exit, with no manual interaction required. AI and smart infrastructure: The service relies on artificial intelligence and integrated smart infrastructure to manage registration and payments. No legacy friction points: Q Mobility emphasised that the system removes the need for SMS, payment machines, QR codes, paper tickets and cash transactions, aiming to improve convenience and operational efficiency. User responsibility: Q Mobility warned users to maintain sufficient balance in the Darb e‑wallet before using the service to ensure smooth automatic payments and to avoid parking fines. "This project reflects Q Mobility’s commitment to transforming innovation into practical solutions that have a direct impact on community life, through the development of seamless, integrated digital mobility services focused on comfort, transparency, and operational efficiency," the company added, framing the launch as part of its broader push into smart mobility and urban infrastructure. The initial phase of the Free Flow Paid Parking System will roll out across several key Abu Dhabi locations, including multi‑storey parking facilities and selected private parking areas, with plans for gradual expansion to additional sites across the emirate. Q Mobility described the move as supporting wider adoption of digital solutions and AI and integrating smart parking infrastructure with the Darb digital ecosystem. Q Mobility positions itself as a provider of smart mobility solutions and future‑ready urban infrastructure in the UAE, leveraging technologies such as artificial intelligence and the Internet of Things to enable more efficient and sustainable cities. The company said the Abu Dhabi launch aligns with efforts to expand smart parking solutions across the city and to support a transition toward more integrated digital mobility services. For users and stakeholders seeking more detail, Q Mobility included a demonstration link to an Instagram reel outlining the system: https://www.instagram.com/reel/DZCiWWztN3p/?igsh=MTBqNmpmOTIwbWthZg==. The company urged motorists to ensure adequate Darb e‑wallet balances to benefit from the automatic deduction feature and to avoid potential fines. --- ## Sobha Realty launches $24bln UAE mega communities amid expansion drive URL: https://startupsmena.com/sobha-realty-launches-24bln-uae-mega-communities-amid-expansion-drive-mpwb1gd2 Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** The company’s expansion momentum has continued into 2026 with the launch of Sobha Sanctuary in Dubai and Sobha City in Abu Dhabi, bringing Sobha Realty’s total UAE master developments to 16. Sobha Realty has launched two new master-planned developments in the UAE — Sobha Sanctuary in Dubai and Sobha City in Abu Dhabi — as the developer pushes ahead with an expansion drive that brings its total UAE master developments to 16. The twin projects represent roughly AED 90 billion ($24.4 billion) of planned development: Sobha Sanctuary is a AED 50 billion ($13.6 billion) community spanning about 37.5 million sq.ft with approximately 20,000 residential units, while Sobha City is a AED 40 billion ($10.8 billion) development across about 38 million sq.ft with around 7,000 units. “We are fundamentally a build-to-sell company, focused on designing and delivering products that meet customer expectations,” said Francis Alfred, Managing Director of Sobha Realty. Both developments form part of a continued roll-out following an active 2025 for the Dubai-headquartered developer, which completed around 3,000 residential units ahead of schedule and launched approximately 15,000 new units last year across projects including Sobha Solis, Sobha Central, Sobha Skyparks and Downtown UAQ. As of 2025 Sobha’s UAE portfolio exceeded 39,000 units across 14 master-planned projects in Dubai and Umm Al Quwain; the two 2026 launches raise that to 16. Sobha Sanctuary (Dubai): ~37.5 million sq.ft, AED 50 billion ($13.6 billion), c.20,000 units (18,000 apartments, 2,000 villas). Enabling works under way; first phase of 250 villas targeted for completion by Q4 2029. Sobha City (Abu Dhabi): ~38 million sq.ft, AED 40 billion ($10.8 billion), c.7,000 units (4,000 apartments, 3,000 villas). Construction due to start in Q2 2026; first phase (one-third of units) targeted for Q4 2029. Sobha One (Dubai): five interconnected towers, scheduled completion Q4 2026; awarded Green Mark Platinum Super Low Energy certification and financed through a $750 million Green Sukuk issued in 2025. Alfred stressed the company’s financial resilience amid regional volatility, pointing to a strong sales backlog and land bank. “We’ve got almost three years’ revenue backlog because we had extraordinary sales in the last three to four years,” he said, adding that Sobha has sufficient land bank for approximately “four-and-a-half years of future development.” He highlighted the firm's vertically integrated model and in-house manufacturing capabilities, noting that “manufacturing facilities maintain their own stock” and that alternative import routes through Oman, Fujairah, and other ports have helped mitigate delays. On costs and demand Alfred said: “Although short-term price inflation exists, we expect conditions to normalise as regional tensions ease. We ensure that we do not pass cost increases on to customers; instead, we absorb them to ensure that product quality is never compromised.” He also said enquiries and conversions surged when a ceasefire was announced, adding that the market should emerge stronger as global confidence in the UAE returns. Sales and marketing chief Ashish Parakh provided buyer-profile detail: in Dubai the mix is typically “around 60 percent international investors and 40 percent UAE residents,” while “in Abu Dhabi, that ratio has reversed. We’re also seeing growing interest from the US, Canada, and key European markets for properties in Dubai and Abu Dhabi.” Sobha has partnered with UAE banks to offer home finance solutions for off-plan purchases, a strategy Alfred credited to the company’s financial foundation and track record of on-time delivery. Environment and liveability are core to both masterplans. James Marvin, CEO of PNC Architects, said the landscaping strategy is intended to reduce ambient temperatures and energy demand: “As tree cover increases, ground temperature drops and the air around a villa becomes cooler. Air entering a home may be 35°C instead of 40°C, and with cooling systems, it reduces further to around 25°C, thus lowering air- conditioning demand and contributing to long term energy efficiency.” He added that Sobha City will ensure “Every unit will have a minimum 10 metre green buffer” and that apartments will be separated from roads by “a 25 to 30 metre forested green strip.” --- ## Week 22's Biggest Startup Funding Rounds in Africa and the Middle East, Led by NALA and Airis Lab URL: https://startupsmena.com/week-22s-biggest-startup-funding-rounds-in-africa-and-the-middle-east-led-by-nala-and-airis-lab-mpw6r15v Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** NALA banked $50 million in credit financing to scale stablecoin payments while Israel's defense AI and food biotech closed the week's two largest equity rounds. Startups across Africa and the Middle East raised a combined $105.93 million in disclosed funding in Week 22, led by a $50 million credit facility to Tanzanian payments infrastructure firm NALA and a $31 million Series B to Israeli defence AI company Airis Labs. The deals span payments, defence AI, food biotech, dental health and govtech, and include both debt and equity instruments. 'The company's AI system, called "One", is designed to improve how government teams work and make decisions.' Key rounds and details NALA — $50 million (credit financing), Payments Infrastructure, Tanzania NALA began as a remittance app in 2017 and has evolved into a stablecoin-powered payments infrastructure business, connecting enterprises to corridors across emerging markets, Europe and the US via its Rafiki platform. Its network covers more than 249 banks and 26 mobile money services across 16 countries. The facility was provided by Liquidity through Mars Growth Capital, a joint venture between Liquidity and MUFG Bank, structured as credit financing beginning with an initial $25 million tranche that can scale to $50 million or more. NALA told Techloy the funds will be used to pre-fund transfers, expand payment corridors and onboard larger enterprise clients, with several contracts expected to go live later in 2026. Airis Labs — $31 million, Series B, Defence AI, Israel Airis Labs, which emerged from stealth this week, revealed the $31 million Series B as part of $60 million it has raised since 2023. Founded by Israeli defence veterans Noam Friedman, Rotem Abeles and Amos Lahav, the Tel Aviv company converts visual data from drones, body cameras, smartphones, social media and security footage into organised, searchable intelligence for government teams. PSG Equity led the round, joined by TLV Partners, Stepstone Group, Redseed Ventures and angel investors including Eyal Waldman. Proceeds will expand US operations, grow the team and accelerate product development. Phytolon — $23.6 million, Food Biotech, Israel Yokne'am-based Phytolon, led by co-founder and CEO Halim Jubran, uses fermentation to produce natural food colours across a wide spectrum. The company secured FDA approval for its first product, Beetroot Red, earlier in 2026. The $23.6 million round closed in three stages, led by an undisclosed strategic investor with existing backers including Millennium Foodtech, NextGen Nutrition Investment Partners, Colorcon Ventures and Yossi Ackerman participating. Funding will support sales, supply agreements and expansion of US distribution partnerships. Mia Healthcare Technologies — ZAR15 million (~$920K), Dental Health, South Africa Cape Town healthtech Mia Healthcare Technologies, founded in 2021 by Dr. Zane Stennings and Dr. Karishma Soni, raised ZAR15 million from the Vumela Fund (managed by Edge Growth and backed by FNB). The company operates mobile and fixed dental practices and manufactures locally produced clear aligners at lower prices than most imports. The capital will fund clinic expansion, boost manufacturing capacity and broaden access to orthodontic services. 01Gov — AED 1.5 million (~$408K), GovTech, UAE Emirati startup 01Gov received an AED 1.5 million credit guarantee from the Mohammed Bin Rashid Innovation Fund to support its AI platform for public sector benchmarking and trend monitoring. The company's AI system, branded "One", targets improved decision-making and operational efficiency in government teams. Other notable activity this week included Core42, the Abu Dhabi AI infrastructure company owned by G42, securing $550 million in structured trade finance from HSBC — a debt facility intended to fund AI cloud and compute deployments across the US and Europe. With Israel accounting for the two largest equity rounds and NALA’s credit facility dominating headline figures, the week’s deals highlight a mix of debt and equity solutions flowing into payments, defence intelligence, food biotech and healthcare across the region. --- ## Stablecoins accounted for 70% of African startup funding in May URL: https://startupsmena.com/stablecoins-accounted-for-70-of-african-startup-funding-in-may-mpw4y7vk Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Tether, the world’s largest stablecoin issuer, does not typically lead seed rounds in African-adjacent startups. Its co-lead position in the Sorted round reads as a deliberate distribution strategy. A Around 70% of disclosed African startup funding in May came from three stablecoin-related transactions, according to the Condia funding tracker. African startups reported $228 million across 12 deals in May 2026, but that headline figure was driven by Paymentology’s $175 million raise; excluding Paymentology the month fell to $53 million. Between May 20 and May 27 alone, three stablecoin infrastructure companies announced raises totalling $37.4 million: Sorted Wallet ($4.4 million), Checkers ($8 million) and Nala (a $50 million credit facility with an initial $25 million commitment). "The three companies own different parts of the stablecoin stack," the Condia tracker observed, describing Sorted as an access layer, Checkers as middleware for institutions and Nala as a working capital engine. Context and deal details Sorted Wallet raised $4.4 million in a round co-led by Tether and Gnosis VC, with participation from Movement, Angel Invest Group and founders of RWA.io. The round also included $1 million in support from Vox Solutions. Sorted is building a non-custodial stablecoin wallet tailored for feature phones and low-end Android devices. Checkers closed an $8 million seed led by Galaxy Ventures, Al Mada Ventures and Framework Ventures, with participation from DFS Lab, Bitso, Airtm, Iyin Aboyeji and Gwera Kiwana. Founded in 2025, Checkers provides an API that connects banks, remittance firms and neobanks to stablecoin liquidity and payment rails, supporting 75 currencies and claiming to have processed more than $3 billion in transactions in its first year. Nala announced a $50 million credit facility from Liquidity, arranged through Mars Growth Capital — a joint venture between Liquidity and MUFG Bank. The initial commitment is $25 million and is structured to scale with transaction volumes; Nala says the facility is deliberately non-dilutive and that it still holds more than half the capital from its $40 million equity raise in 2024. Founded by Benjamin Fernandes in Tanzania, Nala has pivoted from a consumer remittance app to B2B stablecoin payments infrastructure to meet rising enterprise demand. Beyond the stablecoin cluster, May’s activity included a mix of development finance and local rounds: Paymentology’s $175 million raise dominated the headline total; Proparco led a $2 million Series A into remittance infrastructure firm Cauridor with participation from Flourish Ventures and LoftyInc Capital; ARRW, an Egyptian ride-hailing startup, raised $4 million from Tasheed Egypt; MIA Healthcare secured $910,000 from Vumela Fund; and Tunisian insurtech EYST raised an undisclosed seed from 216 Capital. Development finance institutions were active: Village Capital and FMO backed two Ghanaian startups, Proparco backed Cauridor, Triple Jump provided $8 million in debt to MAX, and Invest International backed Electric Transits Africa. Condia notes that excluding Paymentology and DFI deals, venture activity in May narrows to seven deals raising just under $20 million. Investor composition stood out: Tether — the world’s largest stablecoin issuer — co-led the Sorted round, and Al Mada Ventures, the investment vehicle linked to Morocco’s royal family and parent group of Attijariwafa Bank, co-led Checkers, signaling interest from traditional African finance. Outlook From January through May, Condia records approximately $47 million raised by stablecoin infrastructure companies across six deals, and the May cluster suggests builders are layering wallets, middleware, card rails and working capital facilities in parallel. While no single company has claimed dominance, the pattern of funding — involving global crypto funds and African institutional players — indicates investor conviction in stablecoin rails for cross-border and domestic payments. How regulatory clarity and on-the-ground adoption evolve will determine whether this concentrated burst converts into sustained, broader venture activity across the continent. --- ## Bloomberg’s Africa List Highlights Nigerian Startups Tackling Complex Structural Challenges URL: https://startupsmena.com/bloombergs-africa-list-highlights-nigerian-startups-tackling-complex-structural-challenges-tech-in-a-mpw0t08f Date: 2026-06-02 Category: tech Tags: nigeria, fintech, healthtech, logistics, enterprise-software, funding, bloomberg **Summary:** Bloomberg’s Africa List spotlights a wave of Nigerian startups focused on tackling structural challenges across fintech infrastructure, logistics, healthcare, enterprise software, energy and digital commerce. The ranking highlights a shift from convenience consumer apps toward businesses building foundational systems with longer development cycles and deeper technical requirements. Bloomberg’s Africa List is drawing attention to a notable shift in Nigeria’s technology ecosystem, highlighting a cohort of startups that are addressing complex structural challenges rather than simply building convenience-driven consumer apps. The Bloomberg-backed ranking emphasises companies operating across fintech infrastructure, logistics, healthcare, enterprise software, energy and digital commerce — firms that are focused on improving core systems, supply chains and institutional capabilities in Africa’s largest startup market. "For years, Nigerian startups attracted international attention primarily through fintech solutions that simplified payments and financial access," the ranking notes, underscoring how the country’s innovation story is evolving beyond payment rails and consumer-facing products. Context and details The Bloomberg list singles out a pattern emerging within Nigeria: founders are increasingly building businesses that require deeper technical expertise, longer development cycles and more complex operational execution. Rather than emphasising convenience alone, many of the companies recognised are creating infrastructure and platforms designed to improve how businesses and institutions operate. Sector focus: fintech infrastructure, logistics, healthcare, enterprise software, energy and digital commerce. Types of solutions: financial rails and payments infrastructure; logistics networks designed to address fragmented markets and inefficient supply chains; enterprise platforms that streamline operations; and healthcare and energy systems that target access and reliability gaps. Operational challenges: navigating regulatory complexity, building operational capacity, forming partnerships and customer education, all while facing longer paths to profitability. According to the profile, many of the startups operate "behind the scenes," providing the critical infrastructure that enables other businesses to scale. Observers cited by the piece say that addressing structural problems often requires significantly more effort than launching consumer applications because founders must contend with fragmented markets and foundational inefficiencies that are costly and time‑consuming to remedy. Investors are taking notice. The article highlights growing interest from venture capital and other backers in businesses that tackle systemic bottlenecks, noting that these ventures are "often viewed as having stronger long-term defensibility because they solve mission-critical problems that are difficult to replicate." As funding becomes more selective, the spotlight is shifting to companies with measurable economic value propositions and the potential to underpin broader segments of the economy. Outlook The Bloomberg-backed recognition reinforces Nigeria’s position as one of Africa’s most influential startup markets, the ranking argues, even as the ecosystem contends with economic headwinds, infrastructure constraints and regulatory uncertainty. The piece concludes that entrepreneurs are increasingly adapting solutions to local realities — a trend the list describes as a move "beyond convenience and toward solving some of the continent’s most difficult development and business problems." That shift points to a new phase for Nigeria’s startups, one centered on building foundational systems intended to support long-term economic transformation. --- ## Riyadh Air to Take Delivery of First Planes, Plans 100 Cities in 5 Years URL: https://startupsmena.com/riyadh-air-to-take-delivery-of-first-planes-plans-100-cities-in-5-years-mpw0nx5h Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** Riyadh Air will take delivery of its first two Boeing 787s this week, starting the clock on an ambitious goal: 100 cities within five years of first delivery. “For us, that’s a historical moment becau Riyadh Air will take delivery of its first two Boeing 787s this week, kicking off an aggressive expansion plan that aims to link 100 cities within five years of that first delivery. The startup carrier, which has already identified initial markets including London, Jeddah, Manchester and Madrid, says the fleet arrival starts “the establishment of the new national carrier of Saudi Arabia” and sets the clock on an ambitious network build-out timed to support major events such as Expo 2030 and the 2034 World Cup. Direct quote “For us, that’s a historical moment because it represents the establishment of the new national carrier of Saudi Arabia,” Tony Douglas, CEO of startup carrier Riyadh Air, told Bloomberg. Context and details The delivery of the first two Boeing 787s marks a major operational milestone for Riyadh Air as it moves from planning into scheduled services. The carrier has publicly signalled an aim to reach 100 destinations within five years of that initial delivery, a target Riyadh Air describes as central to its role ahead of significant regional and global events. Fleet: first two Boeing 787 aircraft arriving this week. Network targets: 100 cities within five years of first delivery. Initial cities named: London, Jeddah, Manchester, Madrid. Regulatory steps: Riyadh Air has applied for U.S. operations. Product features: premium economy cabins with high-speed Wi‑Fi and the latest in-flight entertainment technology. Commercial progress: the airline is moving forward with ticket sales. Riyadh Air is positioning its onboard product to match its rapid route growth, with plans for a premium economy cabin equipped with advanced Wi‑Fi and modern entertainment systems. Company materials and reporting indicate the carrier aims to market a technology-forward experience as part of its differentiation strategy. The airline is also contending with sector-wide challenges. Skift’s reporting notes Riyadh Air has faced supply-chain delays that have affected timelines, and company leadership is monitoring fluctuating fuel costs as it scales operations. Despite those headwinds, Riyadh Air is pressing ahead with commercial launches and regulatory filings, including an application to operate services to the United States. Outlook With the first aircraft arriving this week, Riyadh Air enters an execution phase where fleet deliveries, regulatory approvals and early route performance will determine how quickly it can reach its 100-city ambition. Tony Douglas’ characterization of the delivery as “historical” underscores the carrier’s role in Saudi Arabia’s broader aviation plans; now the company faces the operational task of turning an ambitious network target into scheduled, revenue-generating services. Observers will be watching initial load factors, yield performance on flagship routes such as London, and progress on U.S. approvals as early indicators of whether Riyadh Air can maintain its aggressive five-year rollout. --- ## Global Blockchain Show Riyadh 2026: Speakers & Agenda URL: https://startupsmena.com/global-blockchain-show-riyadh-2026-speakers-agenda-mpw0q53y Date: 2026-06-02 Category: tech Tags: mena, startup **Summary:** One of the most valuable reasons to attend the blockchain expo in Riyadh is the networking and investment opportunities you can actually access. The conference creates an environment where: Startups c The Global Blockchain Show Riyadh 2026 will take place on June 29–30, 2026, bringing together an estimated 10,000 attendees, 100 speakers, 100 exhibitors and 200 media partners for a two-day summit on blockchain, Web3 and digital assets. Organizers position the event as a practical forum for founders, investors, enterprises, policymakers and developers to explore blockchain implementation, Web3 business development, digital asset management, decentralized systems, AI technology and gaming networks. "The event demonstrates Saudi Arabia's goal to become an innovation-based economic development center instead of relying solely on its energy resources," the conference overview states, reflecting the wider national strategy tied to Vision 2030 and Riyadh's role as a gateway for international blockchain companies into Middle Eastern markets. Speakers and program focus Organizers say the show’s speaker lineup spans founders, CEOs, policymakers, investors and infrastructure leaders. "The speaker lineup shows that the event covers more than cryptocurrency topics, including infrastructure development, governance practices, artificial intelligence, gaming, venture capital funding, cybersecurity measures, and organizational change initiatives," the programme description adds. Notable participants listed by the organiser include: Abeer Alhumaimeedy — Associate Professor at King Saud University; Director of Web3 and Blockchain Lab (Web3, blockchain and AI) Majed Aleid — CIRO, Ministry of Investment (MISA) Director (investment facilitation, entertainment, sports and media projects) Sultan Moraished — CTO, Red Sea Global (cybersecurity and data management) Ogle Glue — Co‑Founder (DeFi, blockchain security) Robin Wingardh — Co‑Founder & CEO, Wingbits (decentralized aviation data networks) Johnson Yeh — Founder & CEO, Ambrus Studio (Web3 mobile gaming and tokenomics) Billal Yamak — Chairman & Co‑Founder, Web3 Alliance of Saudi Arabia (WASA) (growth marketing and regional go‑to‑market strategy) Sandy Carter — Independent Technology Executive, author and thought leader (AI, blockchain, digital identity) Alona Shevtsova — CEO, Sends (cross‑border digital payments and financial regulation) Vit Jedlicka — President, Liberland (token economics and libertarian governance) Rema Alyahya — Vice President, Merak Capital (portfolio management and ecosystem development) Faisal Al Bitar — Managing Director, Tamatem Plus (mobile gaming, fintech and VC funds) Josh Woongki Ahn — COO, T1 Entertainment & Sports, Inc. (esports operations and global commercial strategy) Dr. Faisal Khan — Director of IT, AlNassr Club (sports analytics, AI, ML, VR and fan engagement) Agenda themes outlined by organisers include practical blockchain implementation, Web3 business development, digital asset management, decentralized systems, AI technology, gaming networks and institutional development. The conference is promoted as a venue for strategic alliances and investment discussions, reflecting increased institutional participation across the Gulf region. Outlook With its mix of public‑sector figures, venture and enterprise leaders, and Web3 builders, the Global Blockchain Show Riyadh 2026 aims to translate policy signals and capital interest into actionable projects and partnerships. Attendees can expect sessions on governance, cybersecurity, payments infrastructure, gaming and token economics alongside opportunities for networking between startups, investors and institutions seeking to enter or expand in Middle Eastern markets. --- ## DTEC Networking Events Dubai: Guide for Startup Founders URL: https://startupsmena.com/dtec-networking-events-dubai-guide-for-startup-founders-mpvwfbja Date: 2026-06-02 Category: tech Tags: uae, dubai, dtec, saas, funding **Summary:** A guide by Mahesh Maddu outlines how DTEC in Dubai provides year‑round networking — founder meetups, investor introductions, accelerator showcases, workshops and coworking — that help startups secure partnerships, mentorship and funding. Consistent participation across events and daily campus interactions is presented as the most reliable path to growth. DTEC networking events in Dubai give startup founders direct access to one of the UAE’s most active technology and entrepreneurship ecosystems. According to a guide published by Mahesh Maddu on May 30, 2026, the DTEC campus offers year‑round opportunities — from founder meetups and investor introductions to accelerator showcases, workshops and demo days — that can lead to partnerships, funding, mentorship and business growth. "DTEC networking events in Dubai provide founders with direct access to startup peers, investors, mentors, accelerator programmes, corporate partners, and government stakeholders," Mahesh Maddu wrote on May 30, 2026. How the DTEC community supports founders Maddu’s guide outlines the composition and mechanics of the DTEC ecosystem. The campus gathers a wide range of participants — technology startups, SaaS companies, AI businesses, FinTech founders, e‑commerce entrepreneurs, digital agencies, corporate innovation teams, mentors, advisors and venture capital representatives — creating frequent, informal and formal networking touchpoints. Types of events: founder meetups, pitch competitions and demo days, accelerator showcases, workshops on fundraising and product development, corporate partnership events and community networking sessions. Key benefits: investor exposure, market validation, partnership opportunities, brand visibility and feedback from experienced entrepreneurs. Coworking as a tool: the guide highlights everyday interactions in shared workspaces, lounges and community areas as some of the most productive channels for building trust and long‑term relationships. Maddu stresses that DTEC’s value is not limited to scheduled sessions. Practical habits that improve outcomes include working from the campus regularly, introducing yourself to neighbouring teams, using common areas, participating in community activities and attending informal gatherings. These practices increase visibility, build familiarity and often lead to partnerships that start from casual conversations rather than structured presentations. Investor access, mentorship and common pitfalls The guide notes that investors regularly attend demo days, pitch competitions, accelerator showcases and industry networking sessions at DTEC. Founders who cultivate relationships with investors and mentors before actively raising capital tend to have more productive funding conversations because trust and familiarity already exist. Mentorship connections: opportunities to meet experienced founders, industry specialists, startup advisors and corporate innovation leaders. Common networking mistakes: treating every event as a sales opportunity, failing to follow up, only attending when funding is needed, and ignoring informal networking. Maddu observes that "founders who actively participate in the DTEC startup community often gain significantly more value than those who simply use the campus as a registered business address." Outlook: For founders based in or entering Dubai, DTEC presents a practical, year‑round platform to turn networking into a sustained growth strategy. Consistent participation — across workshops, demo days, corporate events and daily coworking interactions — is presented as the most reliable path to securing customers, partners, mentors and investors within the DTEC ecosystem. --- ## Abu Dhabi unveils automatic parking payment system using number plate technology URL: https://startupsmena.com/abu-dhabi-unveils-automatic-parking-payment-system-using-number-plate-technology-the-national-mpvqlcjy Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** Abu Dhabi will introduce automatic parking payments using number plate recognition, removing the need for coins, cards or dashboard tickets. Q Mobility will launch the Free Flow Parking System at mult Abu Dhabi will introduce an automatic, cashless parking payment system that uses automatic number plate recognition to bill motorists through the Darb e-wallet, removing the need for coins, cards or dashboard tickets. Q Mobility, the operator of the emirate's Darb road toll network and public parking systems, said the Free Flow Parking System will be launched at multistorey car parks and selected private facilities before a wider roll-out across the capital. “The chargeable period will begin when a vehicle enters the designated parking area,” said the system operator, highlighting the seamless, cashless nature of the scheme. Under the new arrangement, parking fees will accrue from the moment a vehicle enters a designated parking area and will be deducted from the user’s Darb e-wallet when the vehicle exits. Q Mobility said motorists must maintain sufficient balance in their Darb e-wallet accounts to avoid fines as the paid parking network expands across the emirate. How it works and who is behind it System: Free Flow Parking System using automatic number plate recognition technology. Operator: Q Mobility, established in 2024 by Abu Dhabi-based investment and holding company ADQ. Payment: Charges deducted from motorists’ Darb e-wallets on exit; users must keep sufficient balance to avoid fines. Oversight: Q Mobility operates under the supervision of the Abu Dhabi Department of Municipalities and Transport. The initiative forms part of Abu Dhabi transport authorities’ broader push to expand digital services and integrate parking with existing transport payments. Q Mobility manages public parking and the Darb road toll network, and was set up to operate and develop the Darb and Mawaqif public parking systems. The new plate-recognition model aims to boost efficiency and reduce the risk of parking fines associated with expired tickets or incorrect payments. Transport authorities did not immediately publish a list of the initial sites to be included in the first phase of the Free Flow Parking System, but the move follows a rapid expansion of paid parking zones across the emirate in recent months. On May 6 this year, a new paid parking zone covering more than 10,000 spaces was introduced in Mohamed bin Zayed City, with the system active in commercial sectors ME9 and ME12. Q Mobility previously rolled out paid parking in other commercial sectors of Mohamed bin Zayed City in December, and introduced paid parking to outer areas of Al Shahama in November. In January, paid parking was also launched in Mussaffah covering sectors M1, M2, M3, M4 and M24. Outlook Officials say the technology-driven system should simplify parking payments and better link parking with Abu Dhabi’s wider digital transport ecosystem, but it places the onus on motorists to monitor Darb e-wallet balances to avoid penalties. As the Free Flow Parking System is deployed at multistorey and selected private facilities, Q Mobility will likely expand coverage incrementally across the emirate under the supervision of the Abu Dhabi Department of Municipalities and Transport. --- ## Official launch of electronic link between Amman Stock Exchange and Abu Dhabi Securities Exchange URL: https://startupsmena.com/official-launch-of-electronic-link-between-amman-stock-exchange-and-abu-dhabi-securities-exchange-em-mpvqiipc Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** Official launch of the electronic link between Amman Stock Exchange and Abu Dhabi Securities Exchange via Tabadul, enhancing liquidity, market efficiency, and cross-market investment opportunities for Jordan and the United Arab Emirates officially activated an electronic trading link between the Amman Stock Exchange and the Abu Dhabi Securities Exchange via the Tabadul platform at a launch ceremony held at the InterContinental Hotel in Amman. The event culminated with an opening bell and the execution of the first cross-market transaction, underscoring the operational start of cross-market trading that will allow investors in both countries to trade across the two exchanges through brokerage firms. "Activating the electronic link between the two markets represents an important strategic step toward strengthening integration among Arab financial markets," said Emad Abu Haltem, Chairman of the Board of Commissioners of the Jordan Securities Commission. "In implementation of the directions of the two brotherly governments and as a reflection of the deep-rooted strategic and economic ties between the two countries, the project with Abu Dhabi Securities Exchange will contribute to enhancing liquidity, improving market efficiency, and providing broader investment opportunities for investors in both countries." Context and participants The launch was attended by Ghannam Al Mazrouei, Chairman of Abu Dhabi Securities Exchange; Abdullah Salem Al Nuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange; Emad Abu Haltem, Chairman of the Jordan Securities Commission; Mazen Al Wathaifi, Chief Executive Officer of the Amman Stock Exchange; and Sara Al Tarawneh, Chief Executive Officer of the Securities Depository Centre. Also present were Jordanian bank executives, representatives of brokerage firms, capital market institutions, and members of the media. Abdullah Salem Al Nuaimi, Group CEO of Abu Dhabi Securities Exchange, described Tabadul as "an advanced model of integration among financial markets and facilitates access for investors and brokerage firms to member markets within a secure and sophisticated trading environment, thereby enhancing the attractiveness of the region's financial markets." Tabadul was launched by ADX in 2022 to provide interconnectivity among member exchanges and simplify mutual access for brokerage firms under an integrated regulatory and operational framework. The platform already counts several regional and Asian exchanges among its members, and the inclusion of the Amman Stock Exchange expands its network. Members noted that the link will broaden the investor base, increase access to financial markets, and support cross-market trading flows. "Activating the electronic link with Abu Dhabi Securities Exchange comes within the strategic partnership between the two brotherly countries and their joint cooperation in economic fields in a manner that serves their mutual interests," said Mazen Al Wathaifi, CEO of the Amman Stock Exchange. Sara Al Tarawneh, CEO of the Securities Depository Centre, highlighted operational safeguards, saying "activating the agreement enables investors to trade between the two markets with ease and efficiency within a fully integrated legal and regulatory framework, while ensuring settlement, clearing, and pre- and post-trade services are carried out with the highest levels of accuracy and reliability." Outlook Officials framed the launch as a step toward deeper regional market integration, improved liquidity and market depth, and greater access for Arab and foreign investors. The electronic link follows a December 11, 2024 agreement signed in Abu Dhabi in which the Amman Stock Exchange and the Securities Depository Centre agreed to join Tabadul. Organizers say the platform will promote the exchange of expertise between markets and support the strategic objectives of both exchanges as they open further to regional and global financial markets. --- ## Athar+ launches 2nd HACK4IMPACT hackathon in Abu Dhabi URL: https://startupsmena.com/athar-launches-2nd-hack4impact-hackathon-in-abu-dhabi-mpvjs5f5 Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** Athar+, Abu Dhabi’s first purpose-driven hub dedicated to accelerating social impact, operated by the Authority of Social Contribution – Ma’an, has launched the second edition of its HACK4IMPACT hacka Athar+, Abu Dhabi’s first purpose-driven hub dedicated to accelerating social impact and operated by the Authority of Social Contribution – Ma’an, has launched the second edition of its HACK4IMPACT hackathon. The three-day programme will run from 16-18 June 2026 at Athar+ and brings together aspiring entrepreneurs, innovators, professionals and community members to develop practical solutions addressing family-related challenges. The event focuses on three family-centred priorities and offers high-potential concepts the chance to enter Athar+’s incubation ecosystem for further support. His Excellency Salem AlShamsi, Executive Director of Social Incubation and Contracting at Ma’an, said: “HACK4IMPACT reflects Athar+'s commitment to empowering innovators and aspiring entrepreneurs to develop practical solutions that address real social priorities and enhance quality of life across our communities. By empowering future talent through Athar+, we are strengthening Abu Dhabi’s position as a regional hub for social entrepreneurship while advancing the Authority’s vision of fostering a culture of giving, participation, and measurable social progress.” Event focus and format The June hackathon, launched in line with the objectives of the UAE’s Year of Family, will concentrate on community-driven, practical approaches to family wellbeing. Participants will be guided through a structured innovation journey using design thinking methodologies to explore challenges, validate ideas, develop prototype concepts and present solutions to a panel of judges. Athar+ positions the hackathon as an accessible entry point for youth and first-time innovators to contribute to community challenges through entrepreneurship and social innovation. Building stronger family foundations Enhancing financial wellbeing for parents Supporting families caring for aging parents Organisers say the initiative aims to advance family wellbeing, strengthen social cohesion and support the development of solutions that respond to the evolving needs of families in Abu Dhabi. The programme supports collaboration by convening participants from diverse backgrounds and expertise and strengthens practical innovation skills while identifying scalable concepts capable of addressing key social priorities. Support and pipeline Athar+ will back participants with dedicated workspaces, expert mentorship, professional services and tailored growth programmes to help transform ideas into prototype concepts. High-potential concepts emerging from HACK4IMPACT will have the opportunity to be considered for further incubation and support through Athar+'s ecosystem, enabling teams to continue developing their solutions beyond the event. Aligned with the objectives of the UAE’s Year of Family, the initiative also supports broader national efforts to strengthen family wellbeing, social resilience and community cohesion through collaborative innovation and inclusive engagement. With its second edition, HACK4IMPACT seeks to convert community insight into tangible products and services that improve quality of life for families across Abu Dhabi and feed into the emirate’s social entrepreneurship pipeline. --- ## Sky exits Sky News Arabia joint venture as IMI takes control URL: https://startupsmena.com/sky-exits-sky-news-arabia-joint-venture-as-imi-takes-control-mpvdadgw Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** Under the new arrangement, IMI ... of the Abu Dhabi-based broadcaster, while Sky will retain a link to the service through a long-term brand licensing agreement. The decision follows months of scrutin Sky UK has exited its joint venture in Sky News Arabia, handing full strategic and operational control — and ownership — of the Abu Dhabi-based Arabic-language broadcaster to International Media Investments (IMI). Under the new arrangement, Sky will retain a link to the service through a long-term brand licensing agreement, but editorial and operational control will now sit fully with IMI, the company controlled by Sheikh Mansour bin Zayed al-Nahyan. "a natural evolution of the channel into a major regional media organisation." IMI has positioned the change as "a natural evolution of the channel into a major regional media organisation," according to reporting by Julian Clover for Broadband TV News. That statement frames the transfer as a strategic consolidation of assets already under IMI's expanding regional media footprint. Sky News Arabia was launched in 2012 as a 24-hour Arabic-language news service serving the Middle East and North Africa. It was created through a partnership between Sky and Abu Dhabi Media Investment Corporation, an entity that is now part of IMI. The transfer formalises IMI's full ownership of the channel and ends Sky UK's joint-venture role in the broadcaster. The decision follows months of scrutiny over Sky News Arabia's coverage of Sudan's civil war. In 2024, Sudan suspended Sky News Arabia’s operations alongside those of Al Arabiya and Al Hadath, citing concerns over professionalism, transparency and licensing. Those events and regional regulatory pressure have formed part of the backdrop to the ownership and governance changes announced. IMI already owns or holds stakes in a number of regional and international media outlets. The company’s portfolio includes The National, Al Ain News, CNN Business Arabic and Euronews, and it operates media businesses across multiple countries. The consolidation of Sky News Arabia under IMI aligns the channel with that broader group of properties and with IMI's stated regional ambitions. Sky News Arabia launch year: 2012 2024: Sudan suspended Sky News Arabia, Al Arabiya and Al Hadath IMI holdings cited: The National, Al Ain News, CNN Business Arabic, Euronews For Sky, the move is part of a wider reassessment of international brand partnerships under Comcast ownership. Broadband TV News notes that Comcast previously chose not to renew a similar licensing agreement with Sky News Australia, signalling a broader strategic shift by Sky’s ultimate owner in how it manages global branded news partnerships. Although the Sky News Arabia name will remain visible in the region through the long-term licence, the reorganisation means IMI will determine the channel’s editorial line, staffing and operational strategy going forward. Observers will be watching how IMI integrates Sky News Arabia with its other properties and whether the new structure alters the channel’s editorial approach, particularly in light of the recent scrutiny over Sudan coverage. The transfer marks a significant moment in regional media ownership: a legacy international brand will continue in name, while full control and responsibility for day-to-day operations move to a Gulf-based investment vehicle with an expanding international media portfolio. --- ## Lotus Herbals Backs KorinMi with ₹10 Crore Investment for Pan-India Expansion URL: https://startupsmena.com/lotus-herbals-backs-korinmi-with-10-crore-investment-for-pan-india-expansion-indian-startup-times-mpvd6ugo Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** This ₹10 crore injection marks the startup’s second major funding milestone. In May last year, KorinMi raised ₹3 crore in an angel round from Vikas Agarwal, the former CEO of Kaya Skin Clinic (UAE), a Gurugram-based skin clinic startup KorinMi has secured a fresh ₹10 crore investment from Lotus Herbals’ Innovation Fund to accelerate a pan-India expansion of its clinic network and services. The infusion — part of Lotus Herbals’ $50 million venture fund that backs early-stage beauty and wellness startups in India — will help KorinMi scale its physical footprint to major metros, including Mumbai, Bengaluru and Hyderabad, and deepen its hybrid clinic-plus-D2C model. This is the startup’s second major funding milestone after a ₹3 crore angel round in May last year led by Vikas Agarwal, the former CEO of Kaya Skin Clinic (UAE), alongside other private investors. "Our treatments focus on both facial and hair care, utilizing equipment and clinical products sourced directly from South Korea," the company stated in a press release. Context and details KorinMi was co-founded in 2024 by Reshbha Munjal and Jenovia Daun Jung with the stated goal of bridging Korean skin science and customized clinical treatments calibrated for Indian skin. The startup opened its flagship clinic in Gurugram in October 2024 and has served more than 3,000 clients since launch, according to the company. Typical treatment cycles run 30–45 days. Investor and fund: The ₹10 crore comes from Lotus Herbals’ Innovation Fund, which is part of the parent company’s $50 million venture fund focused on early-stage beauty and wellness plays in India. Lotus Herbals’ prior moves: The investment follows Lotus Herbals’ earlier portfolio diversification, including a 32% stake acquisition in skincare brand Fixderma in October 2021. Previous funding: In May 2025 KorinMi raised ₹3 crore in an angel round from Vikas Agarwal and other private backers. Product strategy: Beyond in-clinic services, KorinMi has launched a direct-to-consumer skincare line that is manufactured in South Korea but formulated to withstand Indian weather conditions and address local skin types. Service model: The startup operates a hybrid model combining tech-backed physical clinics with a D2C product business; clinical equipment and products are sourced directly from South Korea. Outlook With Lotus Herbals’ ₹10 crore backing, KorinMi plans to establish new advanced clinics in Mumbai, Bengaluru and Hyderabad as it moves from a single flagship location toward a broader national presence. The capital is earmarked to accelerate geographic expansion and scale the company’s hybrid clinical and product offerings. For Lotus Herbals, the investment deepens its play in early-stage beauty and wellness startups and continues a multiyear strategy of acquiring stakes in specialist skincare brands. --- ## Saudi Fintech, Cloud Services Drive Technology Sector Profit Boom URL: https://startupsmena.com/saudi-fintech-cloud-services-drive-technology-sector-profit-boom-mpuobfg3 Date: 2026-06-01 Category: tech Tags: mena, startup **Summary:** Women walk through the lobby of Elm Co. in the Saudi capital Riyadh. (Public Investment Fund) Saudi Arabia’s listed technology companies posted strong first-quarter earnings for 2026, reflecting a str Saudi Arabia’s listed applications and technology services companies reported a 16% year‑on‑year rise in combined net profits in the first quarter of 2026, reaching SAR1.07 billion ($285 million) compared with SAR920 million ($245 million) a year earlier, driven by growth in fintech, cloud services and tighter cost controls. The five‑company sector — Elm Co., Solutions by stc, 2P Perfect Presentation, Al Moammar Information Systems Co. and Bahr Al Arab Systems Information Technology — saw four firms post profits while Bahr Al Arab continued to record losses. Elm alone accounted for roughly 61% of total sector profits, reporting the highest net income at SAR656 million, up 32% from SAR495 million. "The strong earnings growth reflects the intersection of several operational and strategic factors centered on five main pillars," said financial analyst Nasser Al‑Rashid, summing up the mix of public‑sector contracts, fintech demand, cost discipline, cloud expansion and revenue diversification behind the results. Context and company results The sector’s performance underlines a structural shift toward recurring digital revenue. Elm reported a 31% rise in revenue to SAR2.47 billion in Q1, benefiting from a lower research and development expense base. Solutions by stc ranked second with SAR370 million in profits, up 2.5% from SAR361 million, supported by a 6.3% revenue increase to SAR3 billion and lower operating and selling expenses. 2P Perfect Presentation posted SAR33.06 million in net income, a 2.4% increase from SAR32.28 million, with revenue up 14% to SAR330.08 million driven by strong call‑centre services. Combined sector net profit: SAR1.07 billion ($285 million) in Q1 2026, up 16% year‑on‑year. Elm Co.: net income SAR656 million (up 32%); revenue SAR2.47 billion (up 31%). Solutions by stc: profits SAR370 million (up 2.5%); revenue SAR3 billion (up 6.3%). 2P Perfect Presentation: net income SAR33.06 million (up 2.4%); revenue SAR330.08 million (up 14%). Bahr Al Arab Systems Information Technology: continued quarterly losses. Analysts attribute the results to five key drivers identified by Al‑Rashid: sustained public and private digital transformation spending; rapid fintech development boosting digital payments and identity tools; improved operational efficiency and lower administrative costs; expansion of cloud computing and data‑centre services; and diversification of revenue streams across managed services, platforms and systems integration. The article also highlights SDAIA’s "Hexagon" data centre as the largest government data centre in the world — a sign of deepening national infrastructure investment. Outlook Market analyst Tariq Al‑Ateeq said Elm’s contribution of more than 60% of sector profits underscores "the strength of its innovation‑driven model" and that the Saudi technology sector has entered a phase of "sustainable operational growth." He expects continued solid earnings and revenue growth in coming quarters, though at a more balanced pace than recent years, with long‑term expansion driven by Vision 2030 digital programmes, rising cloud and AI services and increased private‑sector automation spend. Analysts also noted strong corporate demand should help push the Kingdom’s information and communications technology market toward what they expect will exceed $100 billion in spending by 2031. --- ## How Dubai Has Become A Safe Haven For Criminals & Economic Offenders Of India In Recent Years URL: https://startupsmena.com/how-dubai-has-become-a-safe-haven-for-criminals-economic-offenders-of-india-in-recent-years-inventiv-mpu53fch Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** How Dubai Has Become a Safe Haven for India's Criminals and Economic Offenders: From Dawood Ibrahim to Satish Sanpal Dubai and the broader UAE have long been viewed as a magnet for high‑profile Indian fugitives — from underworld don Dawood Ibrahim to recent alleged corporate fraudsters — drawn by proximity to India, tax advantages and ease of converting wealth into visible business interests. Indian agencies, led by the Enforcement Directorate (ED), have declared more than 20 individuals as Fugitive Economic Offenders (FEOs) with strong Dubai links, and high‑value cases tied to the city include the Punjab National Bank (PNB) fraud (~₹13,000–14,000 crore) involving Nirav Modi and Mehul Choksi, and the Sterling Biotech-linked Sandesara brothers (Nitin, Chetan & Dipti) alleged in frauds worth ~₹5,000–8,100 crore. "the perception of Dubai as a 'safe haven' persists," the source notes, even as bilateral cooperation and extraditions have increased in 2025–2026. Context and notable cases The pattern stretches back decades. Dawood Ibrahim, the archetype in this narrative, established a lavish base in Dubai in the 1980s and early 1990s — reportedly living in a "white palace", driving Rolls‑Royces, hosting Bollywood stars and enjoying front‑row seats at cricket matches in Sharjah — before reportedly relocating to Karachi after international pressure following the 1993 Mumbai blasts. Recent cases highlight a shift from traditional organised crime to economic fugitives who use Dubai as a launchpad or refuge. Key figures and facts from public records and media investigations include: Nirav Modi and Mehul Choksi: Diamond merchants accused in the PNB LoU fraud (~₹13,000–14,000 crore). Modi fled to the UK and is fighting extradition; Choksi secured Antiguan citizenship and was arrested in Belgium in 2025. Saurabh Chandrakar & Ravi Uppal: Alleged operators of a large illegal online betting network run from Dubai; ED action attached assets worth around ₹1,700 crore, including Burj Khalifa properties. Chandrakar was arrested in Dubai; Uppal reportedly fled after detention. Sandesara brothers (Nitin, Chetan & Dipti): Accused of diverting bank loans through shell companies across the UAE, UK and Nigeria; Dubai Marina properties were linked to the case. They were later declared FEOs and settled parts of their liabilities. Satish Sanpal: Chairman of ANAX Holding, a group the source calls a claimed $3 billion diversified business. Sanpal faces roughly nine FIRs in Madhya Pradesh (including FIR 271/2022 at Omti P.S. and FIR 170/2022 at Madan Mahal P.S.) under IPC sections such as 420 and 120‑B and the Public Gambling Act; raids froze ₹2.10 crore. He is listed as "Farar" (absconding) with CrPC 82/83 proceedings and a Look‑Out Circular, and is reported to maintain an ostentatious lifestyle in Dubai with luxury cars and Burj Khalifa‑adjacent developments. Other names mentioned in public reporting include Sabhya Seth, the Parekh brothers, associates of Iqbal Mirchi, Rashid Naseem (arrested in Dubai in 2026), and long‑running international figures such as Vijay Mallya and Sanjay Bhandari. Analysts and investigators point to systemic enablers: extradition processes that require dual criminality and can be slow, historic gaps in financial scrutiny, hawala networks and shell companies that integrate illicit proceeds into real estate and businesses, and incentives such as no personal income tax and golden visas that make residency and corporate setups straightforward. Outlook Recent arrests and extraditions in 2025–2026, improved FATF compliance and stronger bilateral mechanisms signal change, but observers say significant gaps remain. The source argues that closing those gaps will require faster extradition frameworks, real‑time financial intelligence sharing and domestic reforms to reduce incentives to flee. Until then, Dubai's combination of accessibility, wealth infrastructure and cosmopolitan opacity means it will continue to be viewed — rightly or wrongly — as a refuge for some of India’s most wanted. --- ## Iran war threatens fund-raising plans of India-focused PE, VC funds URL: https://startupsmena.com/iran-war-threatens-fund-raising-plans-of-india-focused-pe-vc-funds-mpu4zz9u Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** Sovereign wealth funds such as the UAE’s Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, along with the Qatar Investment Authority (QIA), have been among the most active investo The ongoing conflict in West Asia involving Iran, the US and Israel is beginning to dent fund-raising prospects for India-focused private equity (PE) and venture capital (VC) funds, industry sources said. Funds that traditionally draw significant capital from high-net-worth individuals (HNIs) and sovereign wealth funds in the Gulf are seeing heightened investor caution and a reduced appetite for committing to alternative investment vehicles, while currency depreciation is further complicating risk-return calculations. “Attracting foreign capital for VC and PE funds is going to be challenging owing to current inflation levels and global uncertainty. VC investments are driven by long-term commitments,” said V. Balakrishnan, Chairman of Exfinity Ventures and former CFO of Infosys. Fund managers and industry observers point to a combination of geopolitical risk and macroeconomic pressures. Asian-focused fund managers have already been contending with a fundraising slowdown: a Bain & Company report cited in industry commentary shows Asia-focused private equity firms raised just $58 billion in new funds "last year," the lowest level in more than a decade. Fundraising by Asia-focused PE funds stood at $92 billion in 2024, down from $119 billion in 2023, with the post-pandemic peak occurring in 2021 at $180 billion. Where the capital has come from Sovereign wealth funds such as the UAE’s Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company and the Qatar Investment Authority (QIA) have been among the most active backers of India’s startup and growth ecosystem. Mubadala’s India portfolio has included investments in Jio Platforms, Reliance Retail, Avanse Financial Services and Manipal Health Enterprises. ADIA has backed companies including Lenskart and HDFC Capital Advisors. While these sovereigns have been prominent investors, industry sources expect their activity to moderate in the near term as geopolitical tensions and economic uncertainty weigh on decision-making. Currency moves are another headwind: rupee depreciation alters expected returns for investors who measure outcomes in stronger foreign currencies, making long-duration VC commitments less attractive. “Investors prefer to sit on cash during uncertain times. With the West Asia conflict and rupee depreciation, raising money for VC funds will not be easy,” said a source familiar with the matter. Outlook For India-focused PE and VC firms, the near-term outlook is for tougher fund-raising conditions. Managers that rely on HNIs and Gulf sovereigns will likely face longer sales cycles and potentially smaller first-close targets as investors adopt a wait-and-watch posture. At the same time, established funds with track records or sector-specific theses may still close mandates, but at a slower pace and with greater scrutiny on currency hedging and exit timelines. Industry participants will be watching how sovereign wealth funds such as ADIA, Mubadala and QIA recalibrate allocations, and whether broader stabilisation in West Asia or currency markets restores some investor confidence in committing fresh capital to India-focused PE and VC strategies. --- ## US-UAE Relations: Dubai Remains a Pillar of Stability in the Middle East URL: https://startupsmena.com/us-uae-relations-dubai-remains-a-pillar-of-stability-in-the-middle-east-mpu0qunw Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** Dubai remains a stable economic hub amid Middle East challenges, strengthened by US-UAE relations and growth. Dubai continues to function as a pillar of economic stability in the Middle East amid regional tensions, bolstered by deepening US‑UAE ties and sustained investment. In a May 30, 2026 column for Townhall, Majid Rafizadeh highlighted a suite of concrete links: the UAE’s March commitment to a $1.4 trillion, 10‑year investment framework into the United States; the US accounting for 35 percent of total FDI inflows into Dubai; some 1.4 million US visitors to the emirate over the past two years; more than 1,500 US firms registered in Dubai supporting over 180,000 jobs locally; and 122,000 American jobs supported by US exports to the UAE. Rafizadeh also cited Dubai’s receipt of $43.4 billion in FDI and its Jebel Ali Port — described as the world’s ninth busiest container port and the largest man‑made harbor — as concrete pillars of resilience. "Dubai remains a metropolis well‑positioned for future growth," Rafizadeh wrote, framing the emirate’s recovery as a product of planning, diversification and sustained bilateral engagement. Context and details Rafizadeh argues that Dubai’s performance during recent crises — from pandemic‑related shutdowns to regional disturbances stemming from the Iran conflict — reflects long‑term economic strategy rather than short‑term luck. He points to Dubai’s deliberate push into technology and advanced manufacturing as part of a "future‑proofing" agenda, noting partnerships with major American technology companies. "The UAE has emerged as a global AI hub, supported by strong partnerships with key American tech players, including Microsoft, OpenAI, Nvidia, Amazon Web Services and IBM, all of which have major operations in Dubai," the column states. The US‑UAE relationship also has a security dimension. Rafizadeh notes that the UAE "has played host to US military personnel since at least the early 2000s" and has invested in US air‑defense systems, a cooperation he credits with "a high interception rate of Iranian attacks." $1.4 trillion — UAE 10‑year investment framework into the US (committed March last year) 35% — share of Dubai’s FDI inflows accounted for by the United States 1.4 million — US visitors to Dubai in the past two years 1,500+ — US firms registered in Dubai 180,000 — jobs in Dubai supported by American businesses 122,000 — American jobs supported by US exports to the UAE $43.4 billion — FDI received by Dubai (as cited in the column) Rafizadeh emphasizes Dubai’s structural durability — from its logistics backbone at Jebel Ali to economic diversification — as the basis for continued normalcy despite external shocks. He notes that leadership in the emirate has pursued "decades of planning" and that economic policies such as low tax rates and business‑friendly regulation continue to attract firms and talent. Outlook: The column concludes that Dubai’s trajectory is likely to remain upward as long as US‑UAE economic and security cooperation endures. Rafizadeh warns against dismissing the emirate’s prospects: "Betting against Dubai may appear a popular trend, but ultimately amounts only to surface‑level criticism which ignores Dubai’s status as a truly global city." If those linkages hold, Dubai is positioned to stay a major hub for trade, technology and activity between the US and the Gulf. --- ## MINISTERS ENGAGE IN MARATHON MEETINGS WITH UAE COMPANIES URL: https://startupsmena.com/ministers-engage-in-marathon-meetings-with-uae-companies-eswatini-positive-news-mptoodys Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** The minister stated that the Kingdom is strategically located as a convenient investment hub in Southern Africa and can be used as a launching pad for any serious investors and boasts of access to glo ABU DHABI — Acting on the instructions of His Majesty the King and the UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, a high‑level Eswatini ministerial delegation held marathon meetings with a range of UAE companies in Abu Dhabi to pitch projects and seek investment. The delegation, led by Commerce, Industry and Trade Minister Manqoba Khumalo, included Foreign Affairs and International Cooperation Minister Pholile Shakantu; Home Affairs Minister Princess Lindiwe; Ministry of Defence Principal Secretary Prince Sicalo; Ambassador to the UAE Sifiso Dlamini; King’s Office Chief Officer Mbongeni Simelane; and King’s Office Head of Legal Affairs Ntsika Fakudze. Khumalo presented projects valued at over E42 billion (excluding mining) and outlined opportunities in agriprocessing/manufacturing, tourism, agriculture, energy, ICT and education. "The minister stated that the Kingdom is strategically located as a convenient investment hub in Southern Africa and can be used as a launching pad for any serious investors and boasts of access to global markets," Minister Khumalo told company executives during the engagements in Abu Dhabi. Meetings and proposals The Eswatini team held talks with major UAE investors and operators, including Mubadala, the Abu Dhabi Investment Authority (ADIA) and a collective of UAE energy companies led by senior executives from the Abu Dhabi National Oil Company (ADNOC). Specific opportunities and follow‑ups emerging from the meetings include: Projects presented by Minister Khumalo worth over E42 billion, focused on agriprocessing, tourism, agriculture, energy, ICT and education. An energy sector push: Eswatini is exploring partners in the fuel and oil sector after investing more than E5 billion in a strategic oil reserve at Phuzamoya in the Lubombo region, a facility expected to be ready by 2028. Interest from Turkmenistan’s Ayolyn Gijeler to invest over E220 million in ICT, transport and immigration‑related products; company executives who visited Eswatini last month are scheduled to return in early June for further engagements. Engagements with Mubadala, the Abu Dhabi sovereign investor, noted in the delegation brief: Mubadala—originally established in 2002 and restructured in 2017—maintains international offices in New York, London, Moscow and Beijing and reported assets of about USD 385 billion (approximately E6.5 trillion) by last fall. Talks with ADIA, one of the world's largest sovereign wealth funds, where the delegation met the fund's infrastructure leadership including Deputy Director of the Infrastructure Department Sultan Ali Al Dhaheri. ADIA shared its long‑term allocation framework and its use of data and advanced analytics, including a dedicated Quantitative Research & Development team and the "ADIA Lab" applying AI and machine learning. Eswatini is also exploring the creation of its own sovereign wealth fund: a draft legislation has been submitted to cabinet after study visits to Ghana, Ethiopia and Rwanda and will be taken to Parliament as the next stage. The meetings in Abu Dhabi were presented as part of a government strategy described in the delegation brief as "private sector led and government enabled." Outlook: Delegation officials signalled follow‑up visits and negotiations. Ayolyn Gijeler’s return in early June and continued engagement with ADIA, Mubadala and UAE energy firms point to a pipeline of prospective deals tied to the E42 billion pipeline and the E5 billion strategic reserve. With a cabinet submission already made on a national sovereign wealth vehicle, officials expect further commercial discussions and potential investment commitments to crystallise in the coming months. --- ## Investing 75 Billion Euros. SoftBank Builds Europe’s Largest AI Cluster in France, Masayoshi Son’s Global Layout Places Another Key Piece URL: https://startupsmena.com/investing-75-billion-euros-softbank-builds-europes-largest-ai-cluster-in-france-masayoshi-sons-globa-mptc0rtb Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** In March this year, SoftBank announced it would launch a 10GW data center project in Ohio, U.S. It is also participating in a multinational consortium with plans to collaborate with G42, OpenAI, Oracl SoftBank Group announced on May 31 that it will invest up to €75 billion (approximately RMB 592 billion) to build what it calls Europe’s largest AI computing cluster network in northern France. The phased project targets 5 gigawatts (GW) of compute capacity by 2031, with an initial tranche of €45 billion to deliver 3.1GW across sites in the Hauts-de-France region — Dunkirk, Bosquel and Bouchain — and a later 2GW expansion contingent on market demand. "SoftBank is very proud to make this major commitment to France. With its deep industrial base, high-quality talent pool, and firm national determination to drive AI development, France possesses the unique conditions to become the core hub of European AI infrastructure," SoftBank founder Masayoshi Son told media, according to TradingKey. Project details and partners The Dunkirk campus will serve as the core of the initiative and is planned to integrate R D and robotics manufacturing in partnership with French engineering firm Schneider Electric. SoftBank said France’s abundant nuclear power supply is a strategic advantage: once the full 5GW of computing capacity is operational, annual electricity consumption would be equivalent to the output of five standard nuclear power plants, a scale described in the announcement as approaching the peak power usage level of New York City. Phase one: €45 billion to build 3.1GW by 2031 across Dunkirk, Bosquel and Bouchain. Phase two: up to €75 billion total to reach 5GW, subject to demand. Industrial partner: Schneider Electric for campus integration and manufacturing. Geographic advantage: Dunkirk’s access to London, Brussels and Amsterdam markets. Global context in SoftBank’s AI build-out TradingKey’s report positions the French investment as SoftBank’s largest single AI investment outside the United States and as part of a broader global rollout. In March, SoftBank announced a separate 10GW data center project in Ohio, U.S., and is participating in a multinational consortium to co-build a 5GW AI computing cluster in Abu Dhabi with partners that include G42, OpenAI, Oracle (ORCL), NVIDIA (NVDA) and Cisco (CSCO). SoftBank has also committed more than $60 billion to OpenAI, is advancing U.S. listing plans for its robotics and energy businesses, and continues to expand semiconductor capacity around Arm, its core asset. The company’s recent data center strategy has partially replaced the previously planned $50 billion "Stargate" joint venture that was originally conceived to support OpenAI exclusively. Outlook The timing of the announcement aligns with French President Emmanuel Macron’s "Choose France" investment summit and follows a reported preliminary agreement reached between Macron and Masayoshi Son during a Tokyo dinner in early April. For Paris, the project is both an industrial bet and a political signal: the summit arrives with less than a year to France’s presidential election, and the investment underscores Macron’s pitch of leveraging low-carbon nuclear power and industrial capacity to attract major AI infrastructure projects. SoftBank’s move adds a significant European node to its global AI infrastructure strategy, but the report also notes broader industry uncertainty — several announced capacity expansions worldwide have been delayed or shelved — underscoring that large-scale data center projects remain exposed to market and regulatory shifts. --- ## Hashed Invests in Global K-Beauty Brand Accelerator Concept B URL: https://startupsmena.com/hashed-invests-in-global-k-beauty-brand-accelerator-concept-b-online-press-release-submit123pr-mpt4g7jm Date: 2026-05-31 Category: tech Tags: mena, startup **Summary:** Headquartered in Seoul and operating ... and Abu Dhabi, Hashed provides the capital, networks, and on-the-ground execution that help founders move beyond a single region and reach meaningful scale in Hashed, the Seoul‑headquartered blockchain and technology venture capital firm led by CEO Simon Kim, has co‑invested in Concept B, a Korea‑born global beauty brand accelerator, alongside creator‑infrastructure company Nurihaus. Announced on May 29, 2026, the deal is positioned to secure operational and distribution infrastructure so Korean‑conceived brands can scale in the United States, the Middle East and beyond. Hashed’s move follows its acquisition of a financial services licence from the Abu Dhabi Global Market (ADGM) in April 2026 and will leverage Hashed Global Management Limited (HGML) in Abu Dhabi to support local distribution and retail partnerships in the UAE and wider GCC. "K‑beauty has moved beyond a passing trend and now stands at a turning point where Korean‑conceived brands are rising to become a mainstream force in the global market," Simon Kim said. "The collaboration between Concept B and Nurihaus is more than simply selling great brands abroad — it is the infrastructure that nurtures them into brands capable of enduring on the global stage. Built on our Middle East network, Hashed aims to serve as the bridge that extends this journey globally, from the United States all the way to the Middle East." Deal details and partner roles The investment pairs Concept B’s brand‑building and U.S.‑level operating experience with Nurihaus’ creator and retail infrastructure. Concept B was founded in 2022 by co‑founders Ellen Park (CEO) and Su‑Kyun Chung, who previously served as Global President and General Manager Korea, respectively, at U.S. clean beauty brand Farmacy Beauty during its acquisition by Procter Gamble. Nurihaus operates a global creator pool of 1.5 million creators across more than 100 countries and runs NuriLounge, Korea’s largest global creator community; its retail platform NuriGlow already carries Concept B’s first brand in the U.S. Concept B founded: 2022 First in‑house brand: fvrts — launched November 2025; full daily skincare lineup to roll out through 2026 Second brand: DERMA APOTHEKO — dermatological line scheduled to launch later in 2026 Nurihaus network: 1.5 million creators across 100+ countries; collaborations with 400+ brands Hashed global hubs: Seoul headquarters plus San Francisco, Singapore, Bangkok, Bangalore and Abu Dhabi ADGM licence acquired: April 2026 Concept B positions itself as more than an exporter of products: "We are a global beauty brand accelerator that designs operations, branding, and distribution together so that brands conceived in Korea can survive long‑term in global markets," Ellen Park said. She added that the Hashed‑Nurihaus partnership "adds a Middle East‑bound global network on top of our U.S. brand operating experience" and will accelerate efforts to embed brands like fvrts into consumers’ daily routines worldwide. Aram Baek, CEO of Nurihaus, framed the partnership as a means to speed Concept B’s North American entry: "We will serve as a strong foothold so that Concept B's carefully built in‑house brands can enter the North American mainstream as quickly and decisively as possible, carried by Nurihaus’ global creator community and offline retail infrastructure." For Hashed, the investment represents a strategic continuation of its post‑ADGM plan to act as a bridge between Korean consumer brands and Middle Eastern markets while maintaining expansion into the U.S. and Asia. --- ## Saudi startups look beyond equity as venture debt gains traction URL: https://startupsmena.com/saudi-startups-look-beyond-equity-as-venture-debt-gains-traction-arab-news-mpsufyg1 Date: 2026-05-30 Category: tech Tags: mena, startup **Summary:** RIYADH: Saudi Arabia’s startup ecosystem is increasingly turning to venture debt and private credit as Vision 2030 deepens capital markets and broadens financing options beyond traditional equity fund Riyadh — Saudi Arabia’s startup sector is increasingly supplementing equity with venture debt and private credit as the kingdom deepens its capital markets under Vision 2030. According to Wamda’s 2025 MENA Venture Investment Report, the Kingdom attracted around $5 billion in startup funding across 211 deals in 2025, and market participants say founders are combining equity, venture debt and hybrid structures to support growth while limiting dilution. “What we are seeing now is the evolution of the capital stack in Saudi Arabia. Businesses are no longer relying on a single funding route, but are combining equity, venture debt, private credit and other solutions depending on their stage of development and operational needs,” Georges Kakos, partner at PwC Middle East, told Arab News. “This mix of funding sources is becoming both a strategic advantage and a risk mitigant as the Saudi investment landscape continues to expand.” Context and market drivers Industry observers point to a combination of regulatory change, government and semi-government initiatives, fintech innovation and expanding private-credit markets as drivers of the shift. Kakos said founders are now more strategic in their approach to capital, “increasingly using venture debt and other financing tools to support growth while maintaining flexibility and balanced ownership structures.” Startups in sectors with clearer revenue visibility — notably fintech, SaaS, logistics and digital marketplaces — are among those most likely to consider debt. “Many startups across sectors such as fintech, SaaS, logistics and digital marketplaces now have stronger revenue visibility and clearer operating strategies, making alternative funding solutions like venture debt increasingly practical,” Kakos said. He added that venture debt is being used to bridge funding rounds and help firms achieve higher valuation milestones. Examples of regional companies that have used debt productively, cited by industry, include Tabby, Tamara and erad. Nuwa Capital, where Stephanie Nour Prince is a partner, sees debt as best deployed to scale proven unit economics rather than to extend runway in lieu of equity. PwC warned that venture debt requires disciplined cash-flow management and strong repayment capacity even as it offers investors a more structured exposure to high-growth firms. Stephanie Nour Prince, partner at Nuwa Capital and chairperson of the Middle East Venture Capital Association, told Arab News: “The companies that have used it best regionally, like Tabby, Tamara, erad, have done so to scale unit economics that were already proven, rather than to extend runway in lieu of equity. That is the right use case.” She added: “For our portfolio, we view debt as an instrument that compounds returns on the equity we have already deployed: it lets companies finance the parts of the business that should not be funded by venture dollars in the first place.” Outlook Despite the optimism, Prince warned that supply constraints remain a hurdle. “The constraint today, however, is supply. There is still no critical mass of dedicated venture debt providers in the Kingdom or regionally, for that matter,” she said, noting that regulatory clarity and faster approval processes will influence how quickly new capital allocators enter the market. Kakos said the next phase of Vision 2030 would further strengthen entrepreneurship and private-sector growth, and that a broader mix of financing options would continue supporting innovation as Saudi capital markets mature. --- ## Africa’s Fastest-Growing Companies in 2026 URL: https://startupsmena.com/africas-fastest-growing-companies-in-2026-blueprint-newspapers-limited-mpsiqxvt Date: 2026-05-30 Category: tech Tags: mena, startup **Summary:** Kenya continues strengthening its reputation as a major technology hub because of its leadership in mobile payments and digital innovation. Meanwhile, Egyptian and Ghanaian startups are increasingly e Kenya, Nigeria, Egypt, Ghana and South Africa dominated the narrative in the Financial Times’ 2026 ranking of Africa’s fastest-growing companies, a report highlighted by Blueprint Newspapers Limited. The report shows South Africa produced the largest number of companies on the list, while Nigerian fintech firms remain central to digital financial inclusion. The Financial Times ranking, as described by Blueprint, underscores mobile payments and mobile-first innovation as the main engines of growth across the continent. "Digital businesses across the continent continue expanding despite inflation, currency volatility, and slower global investment," the Financial Times ranking reported, according to Blueprint Newspapers Limited. South African firms again lead the roster, benefiting from stronger infrastructure, developed financial systems and deeper access to funding. Blueprint’s coverage notes that many of the fastest-growing South African businesses operate in fintech, software, telecommunications and online consumer services. Cities such as Johannesburg and Cape Town continue to serve as regional hubs, attracting international companies seeking a base to enter the African market. At the same time, Blueprint reports the continued prominence of Nigerian fintech firms. Although Nigeria recorded fewer companies on this year’s list compared to past editions — a decline the Financial Times attributes in part to inflation and naira depreciation that affect dollar-based rankings — local demand for mobile banking, digital payments and remittance services remains strong. The report highlights how many Nigerian startups are expanding beyond their home market even as macroeconomic pressures complicate their dollar valuations. Regional snapshot South Africa: Largest national representation on the Financial Times list; strong presence in fintech, software and online consumer services; Johannesburg and Cape Town cited as gateways for international firms. Nigeria: Fintech remains the dominant technology sector, focused on mobile banking, digital payments and cross-border remittances despite currency and inflation headwinds. Kenya: Reinforcing its reputation as a technology hub through leadership in mobile payments and digital innovation. Egypt and Ghana: Startups increasingly expanding into fintech, e-commerce and digital investing services. The report also points to the broader drivers behind the ranking: rising smartphone penetration, wider internet access and growing demand for convenient online platforms. Blueprint calls out mobile payments as a transformational force, enabling millions to send money, pay bills and access financial services through smartphones rather than through traditional banks. One notable commercial mention in Blueprint’s coverage is Casino.com, a review and comparison platform that the article cites as providing South African players with lists of reputable and licensed online casinos — an example of how consumer-facing digital services are scaling as internet access grows. Looking ahead, Blueprint’s account of the Financial Times ranking argues that regional expansion is a defining strategy for Africa’s tech firms. Companies that design services for multiple African markets — particularly in fintech, logistics, software and e-commerce — are growing faster and reducing dependence on a single economy. Despite economic uncertainty and tighter global investment conditions, the Financial Times’ findings, as reported by Blueprint Newspapers Limited, suggest Africa’s digital businesses remain resilient and central to the continent’s economic rebound. --- ## Arvind’s New Ventures Strengthen Its Position in the UAE and UK URL: https://startupsmena.com/arvinds-new-ventures-strengthen-its-position-in-the-uae-and-uk-mprvrpbh Date: 2026-05-30 Category: tech Tags: mena, startup **Summary:** Arvind Limited announced the launch of Arvind Atelier, a wholly owned UAE subsidiary, and a new London Design Hub. Arvind Limited announced the launch of Arvind Atelier, a wholly owned UAE subsidiary based in the Sharjah Airport International Free Zone (SAIF Zone), alongside a new London Design Hub as part of a complementary operating structure to strengthen its presence across the UAE and the UK. The Indian conglomerate — which has businesses spanning textiles, apparel, advanced materials, environmental solutions, telecom and omnichannel commerce — said the London hub will focus on customer engagement, trend insights and product development, while the Sharjah platform will coordinate sourcing, manufacturing integration, logistics management and regional market access. “This expansion marks an important milestone in Arvind’s global growth journey,” said Punit Lalbhai, Arvind Limited vice chairman. “By bringing design, sourcing and execution closer to key international markets, we are enhancing our ability to deliver speed, flexibility, quality and responsible manufacturing solutions to global brands.” Context and operational details Arvind described the London Design Hub and Sharjah-based Arvind Atelier as a “complementary operating structure,” with distinctly defined roles for design and sourcing. Arvind Atelier will operate across denim, casual wear, shirts, knits, sweaters, essentials and activewear, enabling brands to consolidate multiple product categories under a single strategic sourcing partner. Rakesh Chadha has been appointed managing director of Arvind Atelier; he brings more than three decades of experience in global apparel sourcing, supply chain management and international business development. The London hub also aligns with the anticipated implementation of the UK–India Comprehensive Economic and Trade Agreement, which Arvind says could strengthen bilateral trade opportunities for India’s textile and apparel sector. The company framed the twin launches as an integrated sourcing and design model meant to serve global brands through a “regionally integrated operating model that combines customer-centric design, agile sourcing and vertically integrated manufacturing capabilities” across Europe, the Middle East and North Africa and the Americas. Arvind highlighted its scale: in fiscal year 2025 the garmenting division produced approximately 37 million pieces, while woven fabric volumes reached approximately 128 million meters. Arvind is among the world’s leading denim manufacturers, with annual denim fabric capacity exceeding 110 million meters. Arvind’s moves come amid broader corporate expansion: earlier this month Arvind Advanced Materials Limited, a wholly owned subsidiary of Arvind, announced the acquisition of nearly 61 percent stake in Dalco-GFT, a U.S. manufacturer of needle-punched non-woven specialty fabrics. The group’s messaging emphasizes speed, flexibility and responsible manufacturing as selling points for global brands seeking integrated partners across design, sourcing and execution. Outlook With a London presence focused on trend and product development and a Sharjah-based sourcing and manufacturing integration hub, Arvind aims to shorten the distance between concept and delivery for international customers. The company’s investments in regional infrastructure, leadership appointments such as Rakesh Chadha and recent acquisitions in advanced materials position Arvind to capitalize on shifting trade ties and sourcing strategies, particularly if the UK–India trade agreement advances as anticipated. For global brands seeking consolidated category sourcing and vertically integrated supply chains, Arvind’s new operating structure intends to offer faster market-responsive product development and expanded regional access. --- ## Saudi fintech Stitch shifts focus to infrastructure as legacy systems limit scale URL: https://startupsmena.com/saudi-fintech-stitch-shifts-focus-to-infrastructure-as-legacy-systems-limit-scale-arab-news-mprubn63 Date: 2026-05-30 Category: fintech Tags: saudi-arabia, fintech, funding, series-a, stitch, mohamed-oueida, ai, infrastructure **Summary:** Stitch, a Saudi fintech, is pivoting to provide unified financial infrastructure for banks and lenders as legacy systems hinder scale, and has closed a $25 million Series A. Founder and CEO Mohamed Oueida says control over the core systems is essential for rapid product iteration and AI-driven use cases. Saudi fintech Stitch is repositioning itself as an infrastructure play as legacy banking systems constrain the Kingdom’s digital finance ambitions, founder and CEO Mohamed Oueida told Arab News. Stitch provides a unified “financial operating system” that integrates payments, lending, accounts and data into a single layer, and the company recently closed a $25 million Series A funding round as it pushes banks and financial institutions to replace fragmented cores and reduce reliance on multiple external vendors. “Infrastructure determines who wins,” Oueida said, arguing that the market has moved beyond “surface-level innovation.” Oueida told Arab News that while consumer-facing payments, wallets and other digital services have become mainstream in Saudi Arabia, the deeper constraint to scale and fast iteration lies in the underlying systems. “You can build a beautiful front end, but you can’t iterate, price dynamically, or embed finance deeply without control over the core,” he said. Stitch positions itself as the system of record for critical workflows and data, enabling institutions to streamline operations, improve scalability, and launch new products with fewer external dependencies. Market context and structural limits Industry research cited by Oueida underscores the problem. A 2025 McKinsey Co. report found that over 70 percent of banks still rely on decades-old core systems, creating fragmented stacks that slow product development and increase costs. Deloitte’s research suggests banks with disconnected systems can take up to three times longer to launch new products compared with those using unified architectures, and Accenture reports nearly 80 percent of banking executives cite data fragmentation as the main barrier to scaling AI. Stitch’s own research, Oueida said, shows more than 87 percent of financial institutions in Saudi Arabia rely on external vendors, while over 60 percent of institutions offering financing products continue to operate on legacy systems. “The apps get the attention. The infrastructure determines the outcome,” he added, describing the mismatch as a structural bottleneck that becomes visible only at scale. Stitch integrates payments, lending, accounts and data into a single operating layer. More than 87% of Saudi financial institutions rely on external vendors, per Stitch research. Over 60% of lenders in the Kingdom still operate on legacy systems, per Stitch. Stitch closed a $25 million Series A round as it shifts focus to infrastructure. Outlook: AI, regulation and the path to modernization Oueida said unified infrastructure is a prerequisite for embedding AI into operational decision-making and unlocking “quick ROI.” “Even AI then becomes highly valuable with paths to quick ROI,” he said, noting most current AI use-cases are limited to fraud detection, credit scoring and analytics until data is unified. He warned that “execution breaking once scale kicks in” is a common challenge: “A pricing change, a regulatory update, or a new distribution partner suddenly turns into a multi-year project.” Regulatory moves by the Saudi Central Bank, including open banking frameworks and real-time payments, and growing cloud adoption have created momentum, but institutional inertia and the need to modernize “without disruption” remain concerns. “Trust is earned at the intersection,” Oueida said. “A strong product opens the door, but doesn’t close the deal. Compliance is table stakes.” As Saudi Arabia’s financial sector matures under Vision 2030, Stitch’s strategy bets that control over the core — not the consumer app layer — will determine which players scale successfully. “The question shifts from ‘where is this data’ to ‘how far can we go with it,’” Oueida said, framing the company’s push to make unified data the foundation for the next phase of fintech innovation in the Kingdom. --- ## Yolo Investments Launches $250M Fund III to Expand in UAE's Fintech, Crypto, and Gaming Sectors URL: https://startupsmena.com/yolo-investments-launches-250m-fund-iii-to-expand-in-uaes-fintech-crypto-and-gaming-sectors-mprq4bor Date: 2026-05-30 Category: tech Tags: mena, startup **Summary:** Recently, subsidiaries of Yolo secured vendor licenses from the UAE’s General Commercial Gaming Regulatory Authority, enabling them to supply gaming products locally. One of Yolo’s brands is even pois Yolo Investments has launched Fund III with a target raise of $250 million after securing regulatory approval to operate the vehicle through the Abu Dhabi Global Market. The Financial Services Regulatory Authority granted the firm the licence to start Fund III, which will focus on Series A, B and C investments in fintech, cryptocurrency and gaming. The move follows recent wins in the UAE, where Yolo subsidiaries obtained vendor licences from the UAE’s General Commercial Gaming Regulatory Authority and one of Yolo’s brands is poised to open the country’s first licensed online live casino studio. "CEO Tim Heath emphasizes this strategy, positioning Yolo at the intersection of finance and entertainment," the company said, adding that "He notes that their fintech investments support payment infrastructure for their gaming ventures, while gaming operations serve as primary customers for their fintech and crypto projects." Context and strategic shifts Fund III’s $250 million target underscores Yolo’s intention to double down on markets it views as tightly linked: gaming, fintech and crypto. The firm frames gaming companies as early adopters of fintech and cryptocurrency solutions, creating cross-selling opportunities between its portfolio companies. Yolo’s previous vehicle, Fund II, closed in 2025 with 100 million euros (approximately $116 million), an outcome the firm achieved "despite difficult economic circumstances," according to the source. To position itself for the new Gulf push, Yolo has been trimming costs and reassessing parts of its portfolio that are tied to less-regulated markets. The company carried out staff reductions in Estonia and has been evaluating options for its crypto-focused brands as it seeks jurisdictions with clearer regulatory frameworks and greater long-term security—factors cited as driving the renewed focus on the United Arab Emirates. Fund III target: $250 million Fund II (closed 2025): 100 million euros (~$116 million) Regulatory approval: Financial Services Regulatory Authority via Abu Dhabi Global Market Local gaming permissions: vendor licences from the UAE’s General Commercial Gaming Regulatory Authority Opportunities and outlook Yolo executives point to Abu Dhabi’s established regulatory frameworks as offering attractive growth potential and a more predictable environment than some legacy markets, where rising competition and shrinking margins have pressured returns. The UAE approvals enable Yolo to supply gaming products locally and support plans to launch a licensed online live casino studio—an early-mover position in the country’s nascent regulated online gaming ecosystem. Still, the company faces notable execution risks. Expanding into the UAE and scaling investments across fintech, crypto and gaming will demand significant capital, patience and flexibility, especially as cryptocurrency remains volatile and regulatory regimes continue to evolve. The rollout of Fund III will test Yolo’s ability to balance ambitious growth targets with careful financial management while sustaining operations and delivering returns to investors. --- ## From investment banking to fighting food waste: Meet the brothers behind Dubai startup Peekabox URL: https://startupsmena.com/from-investment-banking-to-fighting-food-waste-meet-the-brothers-behind-dubai-startup-peekabox-emira-mprc62ho Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Today, the UAE startup has recorded more than 50,000 downloads, reached the top spot on the App Store's food category within days of launch, and is helping residents rescue surplus food from some of t Peekabox, a Dubai-based food‑tech startup founded by British brothers Hasan Sarwar (25) and Omair Sarwar (24), has recorded more than 50,000 downloads, reached the top spot in the App Store’s food category within days of launch and is helping residents rescue surplus food from some of the UAE’s best‑known outlets. The app, which offers discounted “surprise boxes” of unsold fresh food at 50–70% off, went live after more than a year of groundwork and launched with agreements covering nearly 1,000 stores and an initial rollout of around 250 locations across the UAE. “We’ve grown up in Dubai, we lived here for about 20 years. We then went back to London for university and then returned to Dubai to start our careers in investment banking. But we wanted to do something a bit more meaningful,” Hasan said. How the app works Users browse listings of participating restaurants, bakeries and grocery stores offering discounted surprise boxes; exact contents remain a surprise but are typically fresh items that would otherwise remain unsold. Each listing shows the outlet, the collection window and an indication of expected items; customers reserve and pay through the app and collect during the designated pickup time. Boxes are sold at steep discounts — generally 50–70% — giving brands incremental revenue, customers affordable meals and the platform a role in reducing food waste: “It became a win‑win,” Hasan said. The Sarwar brothers say the platform’s performance is the result of more than a year of persuading brands to join before a single download. “It takes a lot of groundwork because we wanted customers to open the app and see all their favourite brands on day one,” Hasan said, describing outreach from LinkedIn messages and cold calls to direct phone pitches. By launch, Peekabox had secured agreements with nearly 1,000 stores and deployed in roughly 250 locations. Despite the scale, the company runs with a lean team of fewer than 10 people, including the two founders, a small operations team, a business development manager and an advisory board. Early traction and context Downloads: more than 50,000 within weeks of launch. App Store: reached the top spot in the food category days after release. Partner network: near 1,000 store agreements, initial rollout across ~250 UAE locations. Operational note: almost all surprise boxes have been selling out daily; founders said they are “obsessing over the customer experience.” Peekabox is incorporated through the DIFC Innovation Hub, which the founders credit with helping accelerate access to support and introductions. The startup’s mission also aligns with national priorities: the UAE has committed to halving food loss and waste by 2030 and backs initiatives such as Ne’ma, the National Food Loss and Waste Initiative. The UAE Food Bank — a complementary actor in the space — has, since 2017, distributed more than 96 million meals and diverted thousands of tonnes of food from landfills. Looking ahead, the brothers say their immediate priorities are keeping pace with demand, expanding the partner network and refining the customer experience. “Once we realised there was a genuine commercial opportunity and the app was making a meaningful impact, we knew we had to go all in,” Hasan said, as Peekabox prepares for further growth across the UAE. --- ## Kenya leads Bloomberg's 2026 Africa startups to watch list URL: https://startupsmena.com/kenya-leads-bloombergs-2026-africa-startups-to-watch-list-mpr92pq0 Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** She added that almost half of the ... from African investors. Kenya had the largest representation on the list with four startups. South Africa, Nigeria, and Tanzania each had three companies, while t Bloomberg News has named 25 startups to its 2026 "Africa Startups to Watch" list, led by a strong showing from Kenya, which supplied four companies: BuuPass, Leta, Oye and WorkPay. The compilation spans healthcare, fintech, transport and logistics, climate technology and artificial intelligence, and highlights firms that Bloomberg editors and analysts judged on the scale of the problems they address, the originality of their approaches and their traction with customers and investors. "Across a diverse range of sectors, the startups present an array of solutions to pressing challenges and problems," Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, said in a statement. She added that almost half of the funding raised by companies on this year's list came from African investors. Why these startups were selected Bloomberg’s list captures companies tackling persistent service gaps—from healthcare financing and clean water to digital payments and emergency response. The editors emphasised both product-market fit and investor backing as key metrics. The 25 companies include firms backed by global strategic investors and local capital, and span established ventures and recent seed-stage entrants. Notable companies and details BuuPass (Kenya) – Founded in 2016 by Sonia Kabra and Wyclife Omondi, BuuPass digitises ticket bookings for buses, trains and flights and is backed by Founders Factory Africa and Google’s Black Founders Fund. Leta (Kenya) – A 2021-founded logistics software startup that completed a $5 million seed round in July 2025 and is backed by Google’s Africa Investment Fund; it helps businesses plan, assign and track deliveries in real time. Oye (Kenya) – Launched in 2022 and backed by Britam, Oye links accident insurance and access to credit to everyday fuel purchases for motorcycle taxi riders and is targeting one million riders as it scales. WorkPay (Kenya) – An HR technology startup highlighted for its traction in the regional market. Remedial Health (Nigeria) – YC-backed, founded in 2021, supported by Tencent and reported to have financed tens of millions of dollars worth of medicines through its platform. 10mg Health (Nigeria) – A 2022-founded firm that combines healthcare and fintech to help hospitals and pharmacies access financing and assess risk using medical and behavioural data. PawaPay (Pan-African) – Founded in 2020, the payments infrastructure firm processes millions of transactions daily across about 20 countries and has reported profitability since 2023. HUB2 (Ivory Coast) – Building payment rails that connect mobile money wallets, bank accounts, cards and digital wallets across the CFA franc zone. Black Swan (Tanzania) – Founded in 2022, uses AI and alternative data to assess borrowers and is backed by Germany’s develoPPP Ventures. Deaftronics (Botswana) – Founded in 2019 and supported by Johnson & Johnson, the company develops solar-powered hearing aids for regions with unreliable electricity. Outlook Kenya’s four entrants give the country the largest representation on Bloomberg’s list. South Africa, Nigeria and Tanzania each contributed three startups, with the remainder of nominees hailing from Botswana, Cameroon, Chad, Egypt, Ghana, Ivory Coast, Madagascar, Mauritius and Somalia. Bloomberg’s selection underscores a mix of local capital participation, strategic partnerships and product-driven impact metrics; several firms cited global backers such as Tencent, TransUnion and Google alongside regional investors like Alitheia Capital and local ministries. Analysts and founders will be watching how these startups convert investment and early traction into sustainable scale across African markets in 2026. --- ## Saudi Arabia emerges as regional launchpad for Egyptian companies URL: https://startupsmena.com/saudi-arabia-emerges-as-regional-launchpad-for-egyptian-companies-arab-news-mpr95icg Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** RIYADH: Egyptian companies are increasingly choosing Saudi Arabia as their first destination for international expansion, as the Kingdom’s economic transformation, industrial scale, and investment mom Egyptian companies are increasingly using Saudi Arabia as their primary launchpad for international expansion, drawn by the Kingdom’s industrial scale, investment momentum and immigration of demand across manufacturing, hospitality, technology and consumer sectors. More than 7,000 investment licenses have been granted to Egyptian firms operating in Saudi Arabia, according to HSBC Bank Egypt, while corporate investment examples include Elsewedy Electric’s commitment of over SR1 billion (about $266 million) plus SR560 million in industrial funding and a Saudi project portfolio now valued at SR17 billion. "Saudi Arabia stands out as one of the most attractive growth markets due to its unique combination of economic stability, strong government support, and a rapidly expanding industrial base," said Ahmed Fathy Elsewedy, CEO of Elsewedy Electric KSA, Qatar, and Egypt Cables Accessories, in an interview with Arab News. Context and sector momentum Elsewedy Electric has accelerated its Saudi expansion to meet rising demand in the Kingdom’s energy and infrastructure programs. The company expects its industrial footprint in Saudi Arabia to expand to nine facilities by 2027 and was selected as the first contractor in the Middle East to design and construct synchronous condenser stations — including associated systems — at Al‑Ghat, Al‑Rass and Al‑Kahfah. The broader picture is supported by data from an HSBC report published in November 2025: 86 percent of Egyptian businesses surveyed expected to significantly increase trade with Saudi Arabia over the following five years, the highest among markets surveyed, while 62 percent said they were more likely to invest in and trade with the Kingdom despite global trade disruptions. Todd Wilcox, deputy chairperson and CEO of HSBC Bank Egypt, noted that more than 7,000 investment licenses had been issued to Egyptian companies across sectors such as infrastructure, food production and technology. Elsewedy Electric: SR1 billion invested, SR560 million industrial funding, SR17 billion project portfolio; nine facilities planned by 2027. Synchronous condenser stations contracted for Al‑Ghat, Al‑Rass and Al‑Kahfah. HSBC survey: 86% of Egyptian firms expect to boost trade with Saudi Arabia; 62% likely to invest despite disruptions. More than 7,000 investment licenses issued to Egyptian companies in Saudi Arabia. Expansion is not limited to heavy industry. Egyptian luxury craftsmanship brand Kahhal 1871 is collaborating on the Fanaya Hotel project, the company’s most visible hospitality development in the Kingdom to date. "What is happening in Saudi Arabia today is very exciting because there is a real effort to create hospitality experiences that feel culturally rooted while still being globally relevant," said Mohamed El‑Kahhal, Managing Director of Kahhal 1871. The firm is also working on additional hospitality projects in Jeddah expected to complete by 2027. Consumer-facing Egyptian startups are also finding fertile ground. "Consumers today connect with brands through the product, the experience, and the emotional connection they create — not simply where they come from," said Farah Nofal, founder and CEO of FEHE Beauty. Nofal added that FEHE was built with an international mindset to resonate across cultures and that Saudi consumers increasingly value storytelling, community and brand identity. Outlook Officials and business leaders point to regulatory stability, abundant energy resources, and a growing preference for local manufacturing as drivers that make Saudi Arabia attractive for Egyptian exporters and investors. With major giga‑projects, industrial localization programs and targeted investments in renewables, technology and tourism, Egyptian firms say they will continue to use the Kingdom as a strategic gateway into the wider Gulf market through 2027 and beyond. --- ## Blue Elephant Group Brings Thai Heritage Cuisine to Life at THAIFEX URL: https://startupsmena.com/blue-elephant-group-brings-thai-heritage-cuisine-to-life-at-thaifex-visit-abu-dhabi-abu-dhabi-touris-mpr4yilj Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Bangkok, Thailand, May 28, 2026 / TRAVELINDEX / The Blue Elephant Group proudly announces its participation in THAIFEX–Anuga Asia 2026, under the theme “From Thai Culinary Heritage to Global Gourmet… Bangkok, Thailand — May 28, 2026 — The Blue Elephant Group announced its participation in THAIFEX–Anuga Asia 2026 under the theme “From Thai Culinary Heritage to Global Gourmet Products,” unveiling a broadened portfolio of ready-to-use curries, seasonings and snacks designed to make authentic Thai cuisine more accessible to global consumers. Led by Founder & Executive Chef Master Chef Nooror Somany Steppe, the group is showcasing new curry powders, a Tom Yum seasoning, an expanded snack series and a packaging revamp aimed at Southeast Asian and U.S. markets. “There is no good Thai cuisine without good Thai ingredients,” said Master Chef Nooror, who brings more than 45 years of culinary experience to the Blue Elephant brand and continues to promote the use of Thai herbs and indigenous ingredients sourced from provinces across Thailand. Context and details At THAIFEX–Anuga Asia 2026, Blue Elephant is introducing an expanded range of spice blends and cooking solutions developed under Master Chef Nooror’s supervision to ensure balance, depth and consistency. The new product lineup includes curry powders in five flavours — including Thai green, red and yellow curries — presented in a convenient sprinkler format for sprinkling, seasoning and stir-frying. A Tom Yum seasoning is also offered in the same format to simplify one of Thailand’s most iconic flavours for home kitchens. New spice formats: curry powders in five flavours (green, red, yellow among them) plus Tom Yum seasoning in a sprinkler format. Snack expansion: launch of a crispy coconut roll described as light and naturally sweet. Packaging revamp: popular Thai nuts shifting from traditional tins to larger 200‑gram sachets for improved value and convenience. Ines Chardonnet, Junior Vice President of Blue Elephant International Group, framed the innovation as fidelity to heritage: “Innovation at Blue Elephant is always rooted in authenticity. Our goal is to translate Master Chef Nooror’s deep culinary knowledge into products that make Thai cooking intuitive and enjoyable, while preserving the soul of each dish.” Kevin Somany, who leads Blue Spice, the manufacturing arm of Blue Elephant Group, said the new formats reflect modern cooking habits: “With Blue Spice, we are continuously developing new spice blends and formats that respond to modern cooking habits. Our latest range, introduced at THAIFEX this year, is designed to make Thai cuisine even more accessible to global consumers, without losing its authenticity or complexity.” The family-run group also emphasizes education and continuity: Master Chef Nooror’s three children help steer the business — Kim Steppe as Chief Executive Officer, Chef Sandra Steppe overseeing Marketing and Public Relations, and Chef Kris Steppe focusing on training and inspiring the next generation of chefs. Blue Elephant operates restaurants on Sathorn and Sukhumvit 13 in Bangkok and in Phuket, and runs cooking schools that promote the use of local herbs and ingredients. Outlook Visitors to the Blue Elephant booth at THAIFEX–Anuga Asia 2026 can expect product showcases, tastings and insights into the craftsmanship behind each creation as the group pushes to meet rising demand in Southeast Asian and U.S. markets. By combining restaurant heritage, educational programmes and retail-ready innovations, Blue Elephant positions itself as a global ambassador for Thai gastronomy — translating a belief that “Thai food is medicine” into accessible products that aim to preserve flavour, provenance and sustainability for future generations. --- ## Hashed Invests in Global K-Beauty Brand Accelerator Concept B URL: https://startupsmena.com/hashed-invests-in-global-k-beauty-brand-accelerator-concept-b-the-manila-times-mpr4v7kb Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Headquartered in Seoul and operating ... and Abu Dhabi, Hashed provides the capital, networks, and on-the-ground execution that help founders move beyond a single region and reach meaningful scale in Seoul-based venture firm Hashed has announced a co-investment in Concept B, a Korea-born beauty brand accelerator, alongside creator-platform Nurihaus as part of a push to scale Korean-conceived K‑beauty brands into the United States and the Middle East. The deal follows Hashed’s acquisition of a financial services licence from the Abu Dhabi Global Market (ADGM) in April 2026 and will leverage Hashed’s Abu Dhabi hub to provide distribution and retail partnerships in the UAE and broader GCC through Hashed Global Management Limited (HGML). "K‑beauty has moved beyond a passing trend and now stands at a turning point where Korean-conceived brands are rising to become a mainstream force in the global market," said Simon Kim, CEO of Hashed. "The collaboration between Concept B and Nurihaus is more than simply selling great brands abroad - it is the infrastructure that nurtures them into brands capable of enduring on the global stage. Built on our Middle East network, Hashed aims to serve as the bridge that extends this journey globally, from the United States all the way to the Middle East." Details of the partnership and assets The investment pairs Concept B’s brand operating expertise with Nurihaus’ creator and retail infrastructure. Concept B, founded in 2022 and led by CEO Ellen Park and co‑founder Su‑Kyun Chung, develops in‑house brands in Korea designed to be globally scalable from day one. Park and Chung previously served as Global President and General Manager Korea, respectively, at U.S. clean beauty brand Farmacy Beauty, where they led global growth through the company’s acquisition by Procter & Gamble (P&G). Concept B’s first in‑house brand, fvrts, launched officially in November 2025 and is a daily skincare line built around plant‑based ceramide. fvrts is already being distributed in the U.S. market through NuriGlow, Nurihaus’s retail platform; a full product rollout for fvrts is scheduled throughout 2026. Concept B’s second in‑house brand, DERMA APOTHEKO, is slated to launch later in 2026. Nurihaus, founded in 2020, operates a global creator pool of 1.5 million creators across more than 100 countries and runs Nurilounge, Korea’s largest global creator community, and has collaborations with 400+ brands. Hashed operates global hubs across San Francisco, Singapore, Bangkok, Bangalore and Abu Dhabi and says it provides capital, networks and on‑the‑ground execution to help founders scale globally. "We have high expectations from the partnership between Concept B's founding team - with their exceptional global scale-up experience - and Nurihaus," said Aram Baek, CEO of Nurihaus. "We will serve as a strong foothold so that Concept B's carefully built in-house brands can enter the North American mainstream as quickly and decisively as possible, carried by Nurihaus’ global creator community and offline retail infrastructure." Ellen Park framed Concept B as an operator, not an exporter. "Concept B is not simply a company that exports brands. We are a global beauty brand accelerator that designs operations, branding, and distribution together so that brands conceived in Korea can survive long-term in global markets," she said, adding that the partnership "adds a Middle East-bound global network on top of our U.S. brand operating experience." Outlook: the co‑investment creates an operational bridge intended to accelerate brand rollouts from Korea into major markets. Hashed will use its ADGM licence and Abu Dhabi presence to pursue local distribution and retail partnerships in the Middle East while Nurihaus supplies creator-driven demand and U.S. retail access. Concept B plans to push fvrts and subsequent in‑house brands across the U.S., Middle East and Asia through the combined infrastructure. --- ## UAE e-commerce surge reshapes Eid Al Adha gifting URL: https://startupsmena.com/uae-e-commerce-surge-reshapes-eid-al-adha-gifting-khaleej-times-newspaper-read-this-story-on-magzter-mpqwn8kt Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Read this exciting story from Khaleej Times May 27, 2026 issue. E-commerce across the UAE and wider Gulf is entering a new phase of rapid evolution, with Eid Al Adha emerging as a key test bed for cha E-commerce spending across the UAE and the wider Gulf is entering a new phase of rapid evolution, with Eid Al Adha 2026 expected to act as a proving ground for shifting consumer behaviour. Regional spending is forecast to grow by around 10 per cent during Eid Al Adha 2026, according to data compiled by Udora (formerly Flowwow) in collaboration with performance marketing firm Admitad, and reported by Somshankar Bandyopadhyay in Khaleej Times on May 27, 2026. The surge is being driven by stronger digital infrastructure, a growing preference for homegrown brands and changing discovery and fulfilment channels that are reshaping gifting patterns and household spending. "The Middle East is becoming a blueprint for the convergence of digital commerce innovation," said Andrey Dvoychenkov, General Manager Arabian Peninsula and Pakistan at NielsenIQ. Context and details Udora and Admitad's forecast reflects a broader industry shift documented in NielsenIQ’s global study, The Commerce Revolution: Where East Meets West. That study highlights the role of emerging channels — social commerce, live commerce and quick commerce — as the primary drivers of incremental digital growth worldwide. NielsenIQ notes these channels are increasingly interconnected, creating "a broad infrastructure where discovery, transaction, and product delivery converge," and argues this convergence forces brands to adopt a more holistic approach to commerce. The trend manifests locally in several concrete ways: shoppers are favouring "close-to-home" celebrations, allocations of spend are tilting toward household items and domestic experiences, and gifting is increasingly sourced from local and regional brands discovered via social platforms and livestreams. The report points to the UAE and the broader Gulf as especially receptive markets because of mobile-first consumers and maturing fintech and logistics ecosystems. Forecast growth for Eid Al Adha 2026: ~10% (Udora/Admitad) Channels driving incremental growth: social commerce, live commerce, quick commerce (NielsenIQ) Earlier reference: a roughly 20% uplift noted for Eid Al Adha 2024 in regional coverage Key consumer focus: household items, gifting and domestic experiences Outlook For retailers and startups in the region, Eid Al Adha is becoming less a single-season event and more a recurring stress test for omnichannel capabilities. The NielsenIQ framing suggests brands that integrate discovery, transaction and delivery into a seamless customer journey — leveraging social discovery, livestream selling and rapid fulfilment — will capture the bulk of incremental e-commerce growth. At the same time, homegrown labels stand to benefit as consumers increasingly prioritise local offerings for gifting. Market actors will be watching the Eid 2026 period closely: sustained double-digit e-commerce growth would reinforce the Gulf’s role as a template for digital commerce convergence, while also prompting further investment in fintech, logistics and content-driven sales formats. This reporting is based on Khaleej Times’ May 27, 2026 coverage and data from Udora (formerly Flowwow), Admitad and NielsenIQ. --- ## Forbes Rilis 30 Under 30 Asia 2026, Anak Muda di Balik AI, Robot hingga Startup Miliaran Rupiah URL: https://startupsmena.com/forbes-rilis-30-under-30-asia-2026-anak-muda-di-balik-ai-robot-hingga-startup-miliaran-rupiah-mpqo3das Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Forbes 30 Under 30 Asia 2026 menampilkan deretan anak muda yang menciptakan inovasi di bidang AI, sains, olahraga, hingga bisnis. Forbes merilis daftar 30 Under 30 Asia 2026 yang menyoroti 300 anak muda paling berpengaruh di kawasan Asia-Pasifik, menampilkan inovator di bidang kecerdasan buatan (AI), robotika, sains, olahraga, hingga bisnis yang kini mulai membentuk masa depan kawasan. Laporan edisi Forbes Asia, yang dilansir pada edisi Juni 2026 (27/5/2026), menampilkan kombinasi pendiri startup, peneliti muda, dan kreator yang menarik modal besar serta menguji batas teknologi baru — dari robot humanoid hingga perangkat lunak otomatisasi proses kerja. "Forbes 30 Under 30 Asia 2026 menampilkan deretan anak muda yang menciptakan inovasi di bidang AI, sains, olahraga, hingga bisnis dan mulai membentuk masa depan kawasan Asia." Isi daftar dan beberapa nama yang menonjol Guo Renjie (China) — Pendiri JoyIn Technology, perusahaan yang berdiri pada 2024 dan mengembangkan robot humanoid Zeroth M1 untuk anak-anak dan lansia. Zeroth M1 mampu mengenali ekspresi wajah, mengajak pengguna berbincang ketika terlihat kesepian, hingga membacakan buku untuk anak-anak. Hingga April 2026 JoyIn menerima hampir 20.000 pre-order untuk robot tersebut. Finnlay Morcombe dan Oliver Farnill (Australia) — Pendiri Fluency, perangkat lunak berbasis AI yang dirancang untuk mengidentifikasi tugas-tugas berulang di perusahaan dan mengotomatiskannya, mengurangi beban pekerjaan administratif. Yuki Noro (Jepang) — Pendiri Akari, yang menggunakan sistem AI berbasis cloud untuk membantu industri konstruksi mengelola proyek, menghitung struktur bangunan, hingga memproses tagihan. Aniket Shah, Ujjwal Sukheja, dan Saran S. (India) — Pendiri Swish, aplikasi pengiriman makanan yang berjanji mengantar dalam 10 menit; Swish telah mengumpulkan pendanaan sebesar 54 juta dollar AS dengan valuasi sekitar 139 juta dollar AS. Daftar Forbes tahun ini juga memberi bobot pada ilmuwan muda dan pencipta konten, mencerminkan beragam cara generasi muda Asia memanfaatkan teknologi. Kompas.com, yang melaporkan daftar tersebut pada 29 Mei 2026, menekankan adanya tren kuat integrasi AI dalam berbagai sektor ekonomi dan sosial. Angka-angka pendanaan dan pre-order yang tinggi — seperti 54 juta dollar AS untuk Swish dan hampir 20.000 pre-order Zeroth M1 — menjadi indikator nyata bahwa produk dan layanan berbasis AI dan robotika tidak lagi sebatas prototipe; mereka masuk ke jalur komersialisasi yang menarik perhatian investor dan konsumen. Ke depan, pengamat akan mengamati dua hal utama: sejauh mana produk seperti Zeroth M1 mampu memenuhi janji fungsi sosial (misalnya membantu lansia yang kesepian) dan bagaimana startup seperti Swish mempertahankan performa operasional dengan klaim pengiriman supercepat. Selain itu, perkembangan perusahaan seperti Fluency dan Akari menunjukkan fokus pragmatis pada efisiensi operasional dan otomatisasi di sektor korporasi dan infrastruktur—area yang kerap menjadi pintu masuk adopsi skala besar untuk teknologi AI. --- ## Five firms sign deal to develop green data centre in Oman URL: https://startupsmena.com/five-firms-sign-deal-to-develop-green-data-centre-in-oman-mpqa5kn5 Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Five firms sign agreement to develop a green data centre in Oman, boosting sustainable digital infrastructure and AI growth. Five firms sign Joint Development Agreement to build green data centre in Oman Five international companies have signed a Joint Development Agreement (JDA) to develop a next-generation green data centre in Oman, the firms announced after a signing ceremony held during Oman Sustainability Week 2026 in Muscat. The agreement brings together Italian firms RINA, Vitali and Forte Secur Group with Oman's Dream Group and UAE-based Corpolgia to advance sustainable digital infrastructure aligned with Oman Vision 2040. Direct quote Qais Al Bahri, CEO of Dream Group, said: “Through this partnership, we aim to contribute to the development of a future-ready technological infrastructure that combines innovation, security and environmental responsibility.” In a joint statement, RINA, Vitali and Forte Secur Group added: “By combining our respective capabilities in engineering, infrastructure, security and innovation, we are laying the foundation for a next-generation digital ecosystem capable of supporting the future needs of the region.” Project details and partners The signing, held under the patronage of the Embassy of Italy in Oman, was attended by government officials, business leaders and representatives of the participating companies. The initiative was coordinated with support from the Italian Trade Agency office in Muscat in collaboration with the commercial office of the Italian Embassy. Lead developers: RINA (Italy), Vitali (Italy), Forte Secur Group (Italy) Regional partners: Dream Group (Oman), Corpolgia (UAE) Event: Oman Sustainability Week 2026, Muscat The proposed data centre is described by the developers as a “green” facility that will integrate energy-efficient systems, renewable energy solutions, cybersecurity measures and advanced digital technologies. Officials said the project intends to support Oman’s ambitions to position itself as a regional hub for artificial intelligence, digital services and the broader digital economy. Context and diplomatic ties H E Pierluigi D’Elia, Ambassador of Italy to Oman, said the agreement reflected expanding cooperation between the two countries in technology, sustainability and infrastructure. Organisers noted that the deal follows a recent visit by Italian Prime Minister Giorgia Meloni to Oman, during which both sides explored opportunities in energy, infrastructure, technology and sustainable investment. Officials described the JDA as a foundation for future operational and industrial partnerships aimed at developing a regional technology ecosystem centred in Oman, and as part of broader economic cooperation between Oman, Italy and the UAE focused on sustainable infrastructure and long-term investment collaborations. Outlook The partners have positioned the agreement as an early-stage development step; the announcement did not disclose project timelines, locations or funding amounts. Stakeholders say subsequent phases are expected to define technical specifications, renewable energy integration, cybersecurity architecture and commercial models to attract cloud, AI and digital services customers across the region. With coordination from the Italian Trade Agency and diplomatic channels, the project aims to translate the JDA into operational partnerships and industrial activities that advance Oman’s digital infrastructure goals under Oman Vision 2040. --- ## Beyon signs deal for Kuwait’s fixed telecom network; $2.6bn investment seen URL: https://startupsmena.com/beyon-signs-deal-for-kuwaits-fixed-telecom-network-26bn-investment-seen-mpq63pur Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Beyon, a leading telecommunication company and digital enabler, has announced the signing of a Public Private Partnership (PPP) commitment agreement with the Ministry of Communications in Kuwait and t Beyon has signed a Public Private Partnership (PPP) commitment agreement with Kuwait’s Ministry of Communications and the Kuwait Authority for Partnership Projects (KAPP) that formalises the company as the Winning Investor for the Fixed Telecommunications Network Development Project. The agreement, signed at the Government Communication Center of the Council of Ministers, commits more than KWD825 million ($2.666 billion) of investment over a 50‑year partnership term to design, finance, build, operate and maintain Kuwait’s fixed telecommunications network under a new specialised wholesale infrastructure company. "The agreement represents a pivotal stage in the development of Kuwait’s national digital infrastructure and reflects the State’s direction toward building a modern telecommunications network that supports the digital economy and enhances Kuwait’s readiness for future technological developments," said Omar Saud Al‑Omar, Kuwait Minister of State for Communications and Information Technology and Acting Minister of Information and Culture. Project scope and contractual details The commitment agreement was signed by Shaikh Abdulla bin Khalifa Al Khalifa, Beyon Chairman; Eng Mishal Al‑Zaid, Acting Undersecretary of the Ministry of Communications; and Asma Al‑Mousa, Acting Director General at KAPP, in the presence of senior officials including Dr Yaqoub Al‑Sayed Yousef Al‑Rifai, Minister of Finance and Chairman of the Higher Committee for Public Private Partnership Projects, and Salah Ali Al‑Maliki, Ambassador of Bahrain to Kuwait. The project is described as a comprehensive re‑engineering of Kuwait’s national telecommunications network, including development of the last‑mile access network, modernisation of transport and backhaul networks, deployment of Next Generation Network (NGN) systems and the gradual decommissioning of the legacy copper network. Beyon and the Project Company have committed to provide high‑speed fiber connectivity to 90 percent of plots within the first five years and to enable symmetrical speeds of up to 10Gbps, aimed at supporting cloud services, artificial intelligence, smart cities and advanced digital government services. The project will be financed and developed by the Project Company and "will not impose a financial burden on Kuwait," according to the agreement; public sector entities will retain shareholding and Kuwaiti citizens will be offered the opportunity to participate through a public offering of 50 percent of the Project Company’s shares after full operational commencement. Officials highlighted economic and social benefits including specialised employment opportunities for Kuwaiti nationals and the transfer of operational know‑how through an advanced PPP model. Beyon was selected following "a comprehensive technical, financial, and legal evaluation process involving competition among regional and international specialised companies and consortiums," Eng Mishal Al‑Zaid said, with advisory support from Tri International Consulting Group (TICG), Kamco Invest and Al Tamimi & Company. Outlook Dr Yaqoub Al‑Rifai described the initiative as "a strategic initiative that reflects the success of the public‑private partnership model in attracting high‑quality investments with long‑term economic and developmental impact," signalling strong state backing for the project’s objectives. Shaikh Abdulla bin Khalifa Al Khalifa said Beyon is proud to partner with Kuwait and will "leverage its technical and operational expertise to develop an advanced national network that supports Kuwait’s future ambitions," framing the deal as a milestone in regional digital infrastructure cooperation. --- ## Byju Raveendran sentenced to jail: How the high-flying edtech became a cautionary tale URL: https://startupsmena.com/byju-raveendran-sentenced-to-jail-how-the-high-flying-edtech-became-a-cautionary-tale-explained-news-mpq5ym2f Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** Meanwhile, Singapore emerged as ... with Qatar Holdings pursuing action linked to investment disputes and disclosure obligations. ... The downfall of Byju’s has become one of the starkest cautionary t A Singapore court on May 27 sentenced Byju Raveendran, founder of edtech firm Byju’s, to six months in jail after finding him in contempt for repeatedly failing to comply with orders to disclose his assets in a cross‑border investor and creditor dispute, Bloomberg reported. The court also directed Raveendran to surrender to authorities and to pay around $71,000 in legal costs. The contempt proceedings relate to disclosure orders dating back to April 2024 and documents tied to entities such as Beeaar Investco Pte, according to reporting on the case. "The Singapore proceedings related to procedural disclosure disputes and did not amount to findings of fraud or wrongdoing," Raveendran said, adding he had "acted in good faith" and accused some parties of creating a "false and one‑sided narrative" around him and the company. He also posted on X that: "For months, the lenders (including GLAS Trust and QIA), other stakeholders and us (the founders) have been in advanced settlement discussions. A settlement has been agreed in principle, with only minor residual issues left between certain parties — none involving me." How Byju’s unraveled Byju’s rose rapidly during the pandemic, at one point valued at $22 billion in 2022 and backed by investors including BlackRock, Sequoia Capital, General Atlantic and the Qatar Investment Authority. The company bought a string of education businesses as it pursued global scale, acquiring Aakash Educational Services, WhiteHat Jr, Great Learning and Epic. Aggressive expansion was financed by external capital and debt, including a $1.2 billion term loan raised in the US in 2021. Governance and accounting questions surfaced after Byju’s delayed filing audited financials for FY21 and faced scrutiny over revenue recognition and cash burn. By 2023–24 the company faced layoffs, unpaid salaries, delayed vendor payments and resignations of key executives; Deloitte resigned as auditor and several investor‑appointed directors stepped down. Legal actions proliferated across jurisdictions: insolvency proceedings in India, US bankruptcy scrutiny over Byju’s Alpha (a special‑purpose entity tied to the term loan), and litigation in Singapore where Qatar‑linked parties have pursued disclosure and recovery. The Singapore contempt case was prompted by alleged non‑compliance with orders to disclose details of assets and ownership interests, including materials tied to Beeaar Investco Pte, as investors and creditors sought to trace ownership and movement of assets amid recovery proceedings. Reporting noted that parties linked to Qatar‑based investors and lenders have been active in pursuing claims in Singapore. Outlook Raveendran has framed the proceedings as procedural and said settlement talks with lenders and investors were nearing completion, but the jail sentence and cross‑border litigation underscore the complexity of unwinding a once‑high‑flying startup. The downfall of Byju’s — which "became synonymous with India’s pandemic‑era edtech boom" and, in the eyes of some commentators, is now effectively "worth zero" — has prompted renewed scrutiny of corporate governance, disclosure practices and debt structures in India’s startup ecosystem. With enforcement orders in Singapore and parallel actions in the US and India, the coming months are likely to focus on whether remaining settlement talks produce a comprehensive resolution or whether further asset tracing and litigation will continue to drive recoveries for lenders and investors. --- ## Family businesses set to anchor Qatar's next growth cycle URL: https://startupsmena.com/family-businesses-set-to-anchor-qatars-next-growth-cycle-gulf-times-mpq615yw Date: 2026-05-29 Category: funding Tags: qatar, fintech, funding, venture-capital, estithmar-holding **Summary:** Qatari family businesses and family offices are expanding into venture capital, startup financing and fintech as part of a broader diversification away from hydrocarbons, supported by Qatar National Vision 2030 and the Digital Agenda 2030. Policy liberalisation, improved corporate governance and digital investment are positioning these family-linked entities to anchor the country's next growth cycle. Qatari family businesses are positioned to be central drivers of the country’s next growth cycle as the state accelerates diversification away from hydrocarbons, Gulf Times reported. In a May 25, 2026 piece by Santhosh V. Perumal, the paper notes family enterprises — which regional Gulf data suggest account for 60–90% of private sector firms — have repeatedly acted as stabilising economic actors, most notably during the 2017 blockade when family offices and family-owned companies helped restore supply chains and reinforce investor confidence. The article highlights how diversification since the early 2000s into banking, healthcare, education, technology, tourism and industrial manufacturing, together with reforms such as the Qatar National Vision 2030 and the Digital Agenda 2030, have pushed many family firms into venture capital, startup financing and fintech adoption. Direct quote "A major aspect is that younger entrepreneurial family groups are now growing faster than older legacy holding entities, which are more mature and asset-heavy," an analyst tracking family enterprises told Gulf Times. Context and details Gulf Times traces the evolution of Qatari family firms from founder-led trading and contracting houses to diversified conglomerates that played key roles during the 2022 FIFA World Cup boom in infrastructure and services. The report cites several structural and policy factors shaping the shift: Corporate governance and succession: Second- and third-generation family members are pushing for independent boards, formal governance systems and strategic investment planning to enhance transparency and attract foreign capital. Digital and fintech investment: Inspired by the Digital Agenda 2030, family offices are deploying capital into e-commerce, cloud computing, data analytics, AI-driven services and fintech to improve operational efficiency and global investment access. Capital markets and listings: Investment Holding Group (now Estithmar Holding) was the first Qatari family entity approved to list on the Qatar Stock Exchange (QSE), and several family-origin firms now account for a meaningful share of QSE market capitalisation. Policy environment: The Qatar Financial Centre (QFC) is credited with providing a business-friendly legal and regulatory framework for wealth management and investment activity, while liberalisation measures — including expanded foreign ownership laws — have encouraged joint ventures, mergers and acquisitions. Support for entrepreneurship: Government-led incubators and SME support initiatives have bolstered operational capabilities of emerging family enterprises, enabling an expansion into venture capital and startup financing. Reputation and ESG: The article argues family firms that adopt environment, social and governance principles are likely to build stronger reputations and long-term resilience. Outlook Despite strong prospects, Gulf Times warns that challenges remain — especially around succession planning, centralised decision-making and professional management. The report concludes that family enterprises or family-linked entities that combine traditional influence and capital with modern governance and digital strategy are best placed to dominate Qatar’s next economic cycle. As family offices expand into startup financing and fintech, and as policy reforms continue to lower barriers to external investment, these firms look set to play a defining role in translating Qatar’s Vision 2030 and Digital Agenda 2030 into sustainable private-sector-led growth. --- ## SOLOWIN HOLDINGS (AXG) Announces AX Coin’s MOU with The BENEFIT Company to Explore Stablecoin Applications URL: https://startupsmena.com/solowin-holdings-axg-announces-ax-coins-mou-with-the-benefit-company-to-explore-stablecoin-applicati-mpq5vi41 Date: 2026-05-29 Category: tech Tags: mena, startup **Summary:** It allows us to look beyond domestic payment flows and consider how Bahrain's payments ecosystem could evolve through secure, scalable and future-ready solutions. It also reflects our ambition to supp SOLOWIN HOLDINGS (Nasdaq: AXG) announced on May 27, 2026 that AX Coin Bahrain B.S.C. (C), the company’s stablecoin issuance arm, has signed a non‑binding Memorandum of Understanding (MOU) with The Benefit Company B.S.C. (C) ( BENEFIT ), Bahrain’s national electronic financial transactions hub, to explore how regulated stablecoin technology could complement the kingdom’s payments infrastructure. The MOU was signed at BENEFIT’s office on May 6, 2026 by Xavier George, Managing Director of AlloyX Limited and CEO of AX Coin, and Abdulwahed AlJanahi , Chief Executive of BENEFIT. AX Coin has received in‑principle approval from the Central Bank of Bahrain (CBB). "This strategic MOU with BENEFIT represents a defining step in shaping the future of payments in the region. By combining a national payments backbone with stablecoin‑powered infrastructure, we are creating a platform that can seamlessly connect local economies to global financial networks. This will transform how cross‑border value moves, enabling faster, more transparent, more secure, and highly efficient transactions at scale. Beyond payments, this partnership lays the foundation for a next‑generation digital financial ecosystem supporting remittances, merchant settlements, treasury flows, and digital commerce. Together, we aim to position the region at the forefront of regulated digital asset innovation and real‑time global payments." Context and scope of the MOU The MOU establishes a structured framework for AX Coin and BENEFIT to jointly assess a range of potential applications across Bahrain’s payments landscape, and to evaluate whether and how stablecoin capabilities could, subject to regulatory and technical feasibility, interface with BENEFIT’s existing national payments infrastructure. The agreement is explicitly non‑binding and intended as a starting point for assessment and dialogue while regulated stablecoin adoption remains at an early stage globally. Signatories: Xavier George (AX Coin) and Abdulwahed AlJanahi (BENEFIT). Date of signing: May 6, 2026; announcement published May 27, 2026. Regulatory status: AX Coin has received in‑principle approval from the Central Bank of Bahrain. Related partnerships: AXG and Bahrain FinTech Bay entered a strategic partnership in February 2026 to explore regulated stablecoin applications. BENEFIT framed the MOU as part of a broader strategic push to internationalize Bahrain’s payments offerings. "The MOU with AX Coin represents an important step in BENEFIT's strategy to explore how Bahrain's national payment solutions could evolve alongside emerging digital asset infrastructure," said Abdulwahed AlJanahi. He added: "This partnership is one of several initiatives BENEFIT is exploring as part of its broader internationalization strategy. It allows us to look beyond domestic payment flows and consider how Bahrain's payments ecosystem could evolve through secure, scalable and future‑ready solutions. It also reflects our ambition to support Bahrain's position as a leading regional hub for fintech innovation and digital payments." Bader Sater, CEO of Bahrain FinTech Bay, which is a BENEFIT subsidiary, characterized the MOU as a natural progression of earlier collaboration: "BFB has been working with AXG since our strategic partnership in February to advance the exploration of regulated stablecoin adoption in Bahrain, and this MOU between AX Coin and our parent BENEFIT is a natural progression of that work. Bahrain's regulatory clarity on stablecoins, including AX Coin's in‑principle approval from the CBB, is what makes early‑stage collaborations of this kind possible here. BFB will continue to support both parties as the work moves from MOU into structured exploration." Outlook The parties will now move into structured technical and regulatory assessments to determine practical integration points, potential pilot use cases and any necessary safeguards. While the MOU does not commit either side to implementation, it signals coordinated interest from a regulated stablecoin issuer and a national payments operator to evaluate how digital asset technology might be deployed for remittances, merchant settlements, treasury operations and cross‑border payments within Bahrain’s regulatory framework. --- ## Egypt Wants Mining to Deliver 6% of GDP but Still Needs to Convince Investors URL: https://startupsmena.com/egypt-wants-mining-to-deliver-6-of-gdp-but-still-needs-to-convince-investors-ecofin-agency-mppxbvln Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Egypt signed new exploration agreements as part of its effort to expand the mining sector Cairo aims to raise mining’s contribution to GDP from less than 1% to 6% Authorities have introduced reforms t Egypt has stepped up efforts to expand its mining sector with a flurry of agreements this week as Cairo pursues an ambitious target to lift mining’s contribution to GDP from less than 1% today to 6%. On May 25 the government signed a memorandum of understanding with Turkish company OZ Mining to launch an exploration campaign assessing gold potential in the Eastern Desert. That followed a May 24 cooperation deal between the Ministry of Petroleum and Mineral Resources and Xcalibur Smart Mapping for an airborne geophysical survey — described as Egypt’s first such survey in more than four decades — to be carried out with local partner Drone Tech across six regions including the northern and southern Eastern Desert, Sinai, and the northern and southern Western Desert. “These amendments come within the framework of the Ministry of Petroleum and Mineral Resources’ strategy to create an attractive investment environment, optimize the use of natural resources, and increase the mining sector’s contribution to the national economy,” the ministry said, framing recent regulatory changes designed to spark fresh investment. Reforms, exploration and a heavy reliance on gold Alongside exploration campaigns, Egyptian authorities have pursued regulatory reforms intended to make the sector more investor-friendly. Earlier this month the government approved amendments that reduced the state’s mandatory participation in mining projects to 10%, down from 25%, and introduced a maximum 30-day processing period for mining permit applications. These measures build on reforms launched in 2020 that ended the production-sharing agreement system and removed the obligation for mining companies to create joint ventures with the state. Authorities highlight a diverse resource base — gold, tantalite and coal, alongside copper, silver, zinc and platinum — but current activity remains concentrated in a small number of projects. The Sukari mine, operated by AngloGold Ashanti, remains the sector’s flagship and produced around 500,000 ounces last year. Canadian miner Aton Resources plans to begin gold and silver production at its Hamama West project by 2027, and Australian junior Nex Metals Exploration recently signed an agreement to take control of the North Hennai gold project, indicating growing interest among foreign juniors. May 25: MoU with OZ Mining for gold exploration in the Eastern Desert. May 24: Cooperation agreement with Xcalibur Smart Mapping for an airborne geophysical survey with Drone Tech, covering six regions. Regulatory changes: state participation cut to 10% (from 25%); 30-day cap on permit processing. Ongoing industry moves: Sukari produced ~500,000 ounces last year; Aton targets production at Hamama West by 2027; Nex Metals to control North Hennai. Despite the measures and renewed exploration, Egypt faces a credibility challenge. In the Fraser Institute’s 2025 ranking of mining jurisdictions, Egypt placed second to last among 14 African countries evaluated, ahead of only Burkina Faso, underscoring persistent investor perception issues. Authorities will need to translate policy changes into demonstrable project execution and sustained capital inflows if Cairo is to move from announcements and surveys to a materially larger mining sector contributing closer to the 6% GDP goal. Report compiled from Ecofin Agency coverage. --- ## Home Based Business in Dubai: The 2026 Legal Launch Guide URL: https://startupsmena.com/home-based-business-in-dubai-the-2026-legal-launch-guide-mppmkubu Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Bank account Banks Biometric Business ... consultants Dubai Mainland License E-Commerce EU Finances Foundations freelance Free zones Golden Visa Guides Hong Kong Investment License Mainland municipali Dubai’s regulatory framework now explicitly accommodates home based businesses in 2026, with the Department of Economy and Tourism (DET) and multiple Free Zones formalising pathways for entrepreneurs to operate legally from their residences. Key options include the DED E‑Trader license for mainland professional services and Free Zone freelance permits or Free Zone companies with a “Flexi‑Desk” allocation for expats who need to trade physical goods or scale. Emifast’s guide sets out registration steps, cost estimates and practical requirements such as Emirates ID, a Makani number and proof of residence. "Let Emifast evaluate your business model to ensure you remain 100% compliant with Dubai company laws," the guide advises, stressing the importance of matching activity to the correct licence regime. The distinctions are material. The DED E‑Trader license, introduced to regulate online and social media commerce on the mainland, allows UAE and GCC nationals to carry out commercial trading and professional activities from home; foreign expats are limited to professional services such as consulting, photography or website design and are not permitted to trade physical goods on the mainland. Emifast notes bluntly that "you cannot hire employees or sponsor visas through a standard E‑Trader framework," making the licence inherently suited to solo entrepreneurs. Six‑step setup process Isolate your core activity to determine if it is professional or commercial. Verify eligibility (valid Emirates ID and residency for mainland options). Reserve a compliant business name (no offensive phrases or unapproved family names). Provide proof of address, including residential lease or ownership documents and the Makani number. Submit the application via the Invest in Dubai portal or the chosen Free Zone’s digital platform. Settle government fees within 24 hours to download the digital licence. Costs are substantially lower than renting commercial space. Emifast lists a mainland E‑Trader core registration fee at approximately AED 1,070 plus roughly AED 300 for mandatory Dubai Chamber of Commerce membership. Free Zone freelance permits range between AED 7,500 and AED 15,000 depending on residency visa bundling and specific zone packages. The guide also points entrepreneurs toward banking options post‑licence issuance — including digital corporate accounts with Mashreq Neo and challenger platforms such as Wio — and reminds them that a Free Zone e‑commerce entity must be paired with legal storage or logistics arrangements for physical goods. Context and implications Home‑based operators retain the UAE’s tax advantages: 0% personal income tax and small business protections under current corporate tax rules for businesses earning under AED 3 million annually. Choosing the wrong licence risks regulatory fines; the guide recommends using Free Zone structures for expats intending to sell products and the E‑Trader route for sole‑operator professional services. Scaling beyond a single owner requires structural change: conversion to an LLC or a Free Zone company if hiring staff or sponsoring visas. Outlook: the regulatory clarity offered by DET and Free Zones, coupled with low upfront costs, positions home‑based enterprises in Dubai as a viable testing ground for entrepreneurs. For those who begin on an E‑Trader or freelance permit, the Emifast guide underscores careful licensing choices and advises early consultation to ensure compliance as businesses look to expand beyond the living room. --- ## Mubadala Technology Investment Company in Sale of GlobalFoundries Shares for $1.8 Billion of Proceeds URL: https://startupsmena.com/mubadala-technology-investment-company-in-sale-of-globalfoundries-shares-for-18-billion-of-proceeds--mppcu150 Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** The transaction launched on May 26, 2026, and settles on May 28, 2026. Mubadala Technology Investment Company is a wholly owned subsidiary of Mubadala Investment Company PJSC. Mubadala Investment Comp Mubadala Technology Investment Company has completed a secondary block trade of ordinary shares of GlobalFoundries Inc., generating approximately $1.8 billion in proceeds, according to a Cleary Gottlieb announcement. The transaction launched on May 26, 2026, and is scheduled to settle on May 28, 2026. Cleary Gottlieb acted as legal counsel to Mubadala in the sale, relying on Rule 144 for the disposition. "Mubadala Technology Investment Company is a wholly owned subsidiary of Mubadala Investment Company PJSC," the firm noted in its release, adding that "Mubadala Investment Company is a sovereign wealth fund that manages a diverse portfolio of assets and investments in the United Arab Emirates and abroad to generate sustainable financial returns for its shareholder, the government of the Emirate of Abu Dhabi." Transaction details and legal advisory The deal was executed as a secondary block trade of GlobalFoundries ordinary shares and was specifically structured to rely on Rule 144. Cleary Gottlieb identified the proceeds from the sale as being approximately $1.8 billion. The firm’s announcement lists the transaction as launching on May 26, 2026, with settlement slated for May 28, 2026. Seller: Mubadala Technology Investment Company (a wholly owned subsidiary of Mubadala Investment Company PJSC) Issuer: GlobalFoundries Inc. Proceeds: Approximately $1.8 billion Launch date: May 26, 2026 Settlement date: May 28, 2026 Legal basis: Reliance on Rule 144 Cleary Gottlieb deal team: partners Adam Fleisher and Shuangjun Wang; associate Katherine Hebb; law clerk Crystal Lee Mubadala Investment Company is presented in the notice as a sovereign wealth fund with a broad international footprint. Cleary’s release states that Mubadala’s "$302 billion business spans six continents, with interests across multiple sectors and asset classes." The firm is headquartered in Abu Dhabi and maintains offices in London, Moscow, New York, and Beijing. GlobalFoundries, the subject of the traded shares, is described in the announcement as "one of the world’s leading semiconductor manufacturers, delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets." The transaction therefore involves a major sovereign investor adjusting its holdings in a prominent player in the semiconductor industry. Outlook The block trade is set to settle on May 28, 2026, concluding the secondary sale announced by Cleary Gottlieb. The legal advisory role undertaken by the Cleary corporate team—led by partners Adam Fleisher and Shuangjun Wang with support from associate Katherine Hebb and law clerk Crystal Lee—was highlighted in the firm’s public summary of the matter. The disclosure reinforces Mubadala’s ongoing activity in global capital markets and its approach to portfolio management through strategic disposals and investments. --- ## AI Development in Dubai: Why Startups Are Investing URL: https://startupsmena.com/ai-development-in-dubai-why-startups-are-investing-cost-growth-guide-mppcqpuq Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Learn why Dubai startups invest in AI development, including cost insights, key benefits, and how AI drives growth, efficiency, and business innovation. Dubai startups are increasingly directing resources toward artificial intelligence, driven by demand for custom AI software development that can automate operations, improve decision-making and scale with growing businesses. According to a May 25, 2026 piece by the Panth Softech Team, companies across healthcare, fintech, retail, logistics and real estate are already deploying AI tools such as chatbots, predictive analytics and recommendation engines to boost efficiency and customer engagement. "AI is no longer seen as a future concept because startups are already using it to solve real business challenges," the Panth Softech Team writes, underscoring a shift from experimental pilots to production deployments across multiple sectors. Context and drivers Startups in Dubai cite several practical drivers for AI investment. Panth Softech’s coverage highlights improved efficiency through automation of repetitive tasks, enhanced customer experience via 24/7 chatbots and personalized recommendations, and better decision-making enabled by analytics that surface customer behavior and market trends. The article also notes that competition across industries is prompting businesses to seek smarter, tailored solutions rather than one-size-fits-all software. Healthcare: AI is used for patient data analysis, virtual consultations and diagnostic support systems that aim to reduce human error and accelerate clinical workflows. Retail and e-commerce: Recommendation engines, customer behavior tracking and inventory management help improve sales conversion and operational planning. Finance and fintech: Fraud detection, automated customer support and risk analysis are common AI applications in the sector. Logistics and transportation: Route optimization, fleet management and supply chain automation reduce costs and improve delivery performance. Real estate: Property recommendation tools, customer management and market analysis support sales and investment decisions. The article highlights an appetite for custom AI development: "Companies like Panth Softech are helping businesses create customized AI systems that align with their operations and future goals." Startups prefer bespoke solutions because they can be integrated into existing workflows, scaled over time, and tailored to specific operational requirements. Costs and considerations Panth Softech notes that AI development costs in Dubai vary substantially based on project complexity, feature sets, technology stack and integration requirements. Small projects such as basic chatbots carry lower upfront costs, while enterprise-level intelligent automation platforms require larger investments and ongoing maintenance. The firm argues that although initial outlay can be significant, startups often recoup value through reduced operational expenses and improved productivity. The piece also emphasizes lifecycle factors that affect budgets: development time, testing, data management and long-term maintenance. This reinforces why many startups are opting for scalable custom systems that can accept incremental feature additions rather than expensive rip-and-replace implementations. Outlook With practical use cases already live across multiple sectors and local providers such as Panth Softech offering tailored development, Dubai startups appear likely to continue channeling resources into AI to gain efficiency, better customer experiences and scalable growth. As businesses weigh complexity and cost, the trend in the coverage points to incremental, customized AI adoption as a dominant path for startups that want functionality aligned to their specific models and growth plans. --- ## Mubadala Technology Investment Company in Sale of GlobalFoundries Shares for $1.8 Billion of Proceeds URL: https://startupsmena.com/mubadala-technology-investment-company-in-sale-of-globalfoundries-shares-for-18-billion-of-proceeds--mppcuo67 Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** The transaction launched on May 26, 2026, and settles on May 28, 2026. Mubadala Technology Investment Company is a wholly owned subsidiary of Mubadala Investment Company PJSC. Mubadala Investment Comp Transaction overview Mubadala Technology Investment Company, a wholly owned subsidiary of Mubadala Investment Company PJSC, sold a block of ordinary shares of GlobalFoundries Inc. in a secondary transaction that generated approximately $1.8 billion of proceeds. Cleary Gottlieb announced that it represented Mubadala in the trade, which launched on May 26, 2026, and settled on May 28, 2026. Direct quote "Cleary Gottlieb represented Mubadala Technology Investment Company (Mubadala) in a secondary block trade of ordinary shares of GlobalFoundries Inc. (GlobalFoundries), in reliance on Rule 144 for proceeds of approximately $1.8 billion," the firm said in its May 27, 2026 announcement. Context and details The sale involved Mubadala Technology Investment Company, the technology-focused vehicle within Mubadala Investment Company PJSC, the Abu Dhabi sovereign wealth fund. Mubadala Investment Company manages a diverse portfolio of assets and investments in the United Arab Emirates and abroad; the firm reports a business of $302 billion and maintains offices in Abu Dhabi, London, Moscow, New York, and Beijing. GlobalFoundries, the counterparty in the secondary block trade, is described by Cleary Gottlieb as "one of the world’s leading semiconductor manufacturers, delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets." Cleary Gottlieb’s corporate team on the transaction included partners Adam Fleisher and Shuangjun Wang, associate Katherine Hebb, and law clerk Crystal Lee, all listed with the New York office. The firm’s announcement frames the execution as conducted "in reliance on Rule 144," the U.S. securities provision that governs resale of restricted securities under specified conditions, and notes the short window between launch and settlement—May 26 to May 28, 2026. Client: Mubadala Technology Investment Company (wholly owned by Mubadala Investment Company PJSC) Target/asset sold: Ordinary shares of GlobalFoundries Inc. Proceeds: Approximately $1.8 billion Transaction launch: May 26, 2026 Settlement: May 28, 2026 Legal counsel for seller: Cleary Gottlieb (Adam Fleisher, Shuangjun Wang, Katherine Hebb, Crystal Lee) Outlook With the block trade settled, Mubadala Technology Investment Company realizes roughly $1.8 billion in proceeds from its GlobalFoundries holdings. The disposal reduces Mubadala’s direct exposure to the publicly traded semiconductor manufacturer and provides liquidity that the Abu Dhabi-based investment group can deploy across its diversified portfolio. Cleary Gottlieb’s public summary of the engagement places the transaction among the firm’s recent capital markets and corporate work and underscores the role of Rule 144 in the mechanics of the resale. --- ## AI Development in Dubai: Why Startups Are Investing URL: https://startupsmena.com/ai-development-in-dubai-why-startups-are-investing-cost-growth-guide-mppcrenp Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Learn why Dubai startups invest in AI development, including cost insights, key benefits, and how AI drives growth, efficiency, and business innovation. A surge in custom artificial intelligence development is reshaping Dubai’s startup scene, according to a May 25, 2026 briefing by Panth Softech. Startups across healthcare, fintech, retail, logistics and real estate are increasingly commissioning bespoke AI tools — from chatbots and predictive analytics to recommendation engines and automation platforms — to cut costs, improve customer experience and scale operations. "AI is no longer seen as a future concept because startups are already using it to solve real business challenges," the Panth Softech Team wrote, summarising the shift toward applied AI in Dubai’s commercial landscape. Why startups are choosing custom AI Panth Softech’s account highlights several concrete drivers behind the move to custom AI software development. Startups want systems tailored to their workflows and customer profiles rather than off-the-shelf packages, and they value scalability that lets features be added as the business grows. Key operational drivers identified include: Improved efficiency through automation of repetitive tasks such as customer support, data entry and reporting. Enhanced decision-making enabled by large-scale data analysis and actionable insights. Better customer experience via 24/7 AI-powered chatbots, virtual assistants and personalised recommendation systems. Cost reduction over time as automation lowers manual labour and streamlines processes. Industry uptake and common use cases Panth Softech names specific sectors where startups are already deploying AI. In healthcare, firms are employing AI for patient data analysis, virtual consultations and diagnostic support to reduce human error and accelerate workflows. Retail and e-commerce players use recommendation engines, behavior tracking and inventory optimisation to drive sales. Fintech startups focus on fraud detection, automated customer support and risk analysis; logistics companies apply AI for route optimisation and fleet management; real estate businesses use AI for property recommendations and market analysis. "Companies like Panth Softech are helping businesses create customized AI systems that align with their operations and future goals," the briefing notes, pointing to a growing market for bespoke development services rather than one-size-fits-all software. Costs and considerations for Dubai startups Panth Softech outlines the main cost drivers for AI projects in Dubai: project complexity, chosen feature set, technology stack, integration requirements, development time, testing, data management and long-term maintenance. Small, focused initiatives such as a chatbot typically carry a lower price tag, while enterprise-level intelligent automation platforms require larger investments. The report stresses that while initial spend can be significant, many startups view AI as a long-term investment that reduces operational expenses. Outlook As competition intensifies across sectors in Dubai, Panth Softech’s analysis suggests startups will continue to prioritise customised AI solutions that can be integrated incrementally and scaled over time. With demand for industry-specific capabilities rising, local AI development firms stand to play a central role in helping startups translate data and automation into measurable efficiency gains and improved customer engagement. --- ## MENA's Biggest Funding Rounds Are Going To The Same Few Names – What About Everyone Else? URL: https://startupsmena.com/menas-biggest-funding-rounds-are-going-to-the-same-few-names-what-about-everyone-else-techround-mpp911bq Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** The sectors that dominate MENA’s large rounds – fintech, AI-native SaaS, proptech – attract capital because they map directly to the region’s most pressing commercial needs. A founder who can find a t MENA’s headline venture figures mask a concentrated market: total VC funding across the region reached $3.8 billion in 2025, up roughly 74% year‑on‑year, according to MAGNiTT’s FY 2025 MENA VC Report — but a handful of nine‑figure rounds are driving much of that growth. In January 2026 alone, two transactions accounted for over $400 million of the month’s $563 million total, led by Mal’s $230 million seed round and Property Finder’s $170 million financing. Early‑stage deals still make up the majority of deal count, yet they represent only a small fraction of capital raised, creating a widening gap between headline numbers and on‑the‑ground access to funding for most founders. "When the coverage focuses almost entirely on deal size, it steers capital toward the biggest names and makes the rest of the market invisible," the TechRound analysis argues, highlighting how media and LP narratives amplify the advantage of the largest winners. How concentration reshapes the ecosystem That concentration has practical consequences. Startups that raise nine‑figure rounds — the likes of Mal and Property Finder — can hire globally, offer competitive salaries, drive aggressive marketing and buy market share in ways seed companies cannot match. The TechRound piece warns that the effect is not merely optical: "a startup that raises $230 million can hire globally, pay competitive salaries, buy market share and fund aggressive marketing. A seed‑stage company raising $1 million in the same market can’t match any of that." Sector skew: fintech, AI‑native SaaS and proptech dominate the large rounds because they align with pressing commercial needs across the region. Geographic pressure: founders in smaller MENA markets such as Morocco, Jordan and parts of North Africa feel the squeeze most acutely, according to the article. Q1 2026 slowdown: Wamda reported MENA startup funding slipped to $941 million amid heightened geopolitical risk, with the slowdown concentrated in early‑stage deals. Practical alternatives for founders TechRound recommends pragmatic fundraising paths for founders not seeking unicorn scale. It suggests targeting local sovereign‑linked funds and regional‑focused VCs — institutions with mandates to back MENA‑specific companies at earlier stages — rather than trying to mimic the playbook of mega‑round winners. The article also flags underused non‑dilutive instruments: "receivables‑based lending, revenue‑based financing and government‑linked grants" as viable tools for capital‑efficient businesses. There is also a product positioning argument: founders can remain attractive to capital by finding tightly scoped wedges inside the headline sectors — for example, "embedded finance for a specific vertical" or "AI tooling for a niche enterprise workflow" — allowing them to map to investor themes without the same scale. Outlook: structural fixes and different metrics TechRound calls for structural change: more dedicated pre‑seed and seed funds, and "more structured bridge programmes that stop early‑stage companies from being forced into a 'raise big or fail' dynamic." It urges a broader set of success metrics for the region — founder diversity, cross‑border expansion, export revenue and unit economics — to better reflect the resilience of early‑stage businesses. As the piece concludes, MENA’s big rounds are attracting global attention, but "a healthy startup economy isn’t just measured by its largest cheques — it’s measured by how many founders outside the top tier have a realistic path to capital, customers and scale." --- ## Tunisia’s Women-Led Tech Startups Fuel North Africa’s Innovation Renaissance URL: https://startupsmena.com/tunisias-women-led-tech-startups-fuel-north-africas-innovation-renaissance-african-leadership-magazi-mpp4vwpb Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Tunisia is rapidly emerging as one of North Africa’s most dynamic innovation hubs, with women entrepreneurs playing a central role in the country’s technology-driven transformation. Tunisia is positioning itself as a leading innovation hub in North Africa, driven in large part by a surge of women-led technology startups across artificial intelligence, fintech, sustainability and digital commerce. The country’s Startup Act, introduced as a enabling policy framework, alongside incubators and regional partnerships, has catalysed a new generation of ventures. Notable milestones include Malak Boukthir being named Tunisian Woman Entrepreneur of the Year 2025 for Ecofeed, which turns invasive crab waste into sustainable animal feed, and recognition for Ameni Riahi in 2026 for her contributions to innovation and business development. The reporting date for these developments is 27/05/2026. "Tunisia is rapidly emerging as one of North Africa’s most dynamic innovation hubs, with women entrepreneurs playing a central role in the country’s technology-driven transformation." Ecosystem drivers and visible wins The Startup Act is credited in the source reporting with lowering barriers to entry and offering regulatory and financial incentives that have helped unlock entrepreneurial activity, including ventures founded and led by women. In practice, the ecosystem’s support structure includes a growing network of incubators, accelerators and cross-border collaborations that help founders scale and access markets. Incubators and hubs: Westerwelle Startup Haus Tunis is highlighted as a major centre offering mentorship, training and investor access. The EFE-Tunisia StarTech Incubator has supported "more than ten businesses" across e‑commerce, Industry 4.0, digital services and sustainable technologies. Accelerator pathways: Founders are tapping international programmes such as Womentum, which offers mentorship, strategic guidance and funding opportunities of up to $160,000 to female-led startups. Regional collaboration: Partnerships with entrepreneurial networks in countries such as Cameroon are creating cross-border business opportunities and knowledge exchange that broaden market access for Tunisian startups. Private sector initiatives: Organisations like Flat6Labs are singled out for actively promoting greater female participation and expanding inclusive access to entrepreneurial support and investment. The impact spans multiple sectors: Tunisian women are developing AI solutions aimed at improving efficiency and decision-making, launching fintech platforms to expand access to financial services, and building sustainability-focused companies that target environmental challenges while creating commercial value — Ecofeed is cited as a prime example of combining environmental remediation with a viable business model. Outlook While the momentum is clear, the reporting underscores persistent challenges: women-led startups still face disproportionate barriers to capital, investor networks and long-term scalability. Closing those gaps remains a priority for accelerators, incubators and policy makers if Tunisia’s model is to scale regionally. The article suggests that by continuing to strengthen supportive frameworks, expand regional collaboration and maintain targeted programmes for female founders, Tunisia’s women entrepreneurs can sustain their role as drivers of jobs, technological progress and economic diversification — offering a model for inclusive innovation across Africa. --- ## London Tech Week 2026 : startups et PME tunisiennes appelées à candidater URL: https://startupsmena.com/london-tech-week-2026-startups-et-pme-tunisiennes-appeles-candidater-african-manager-mpp4xx80 Date: 2026-05-28 Category: tech Tags: tunisia, uk, ai, funding, conect, london-tech-week-2026 **Summary:** La Tunisie participera à la London Tech Week 2026 avec un pavillon national (n°121) et appelle les startups et PME innovantes à candidater pour rejoindre la délégation soutenue par CONECT, la TBCC, les ambassades et un dispositif financé par le Groupe de la Banque mondiale. La Tunisie sera présente à la London Tech Week 2026, qui se tiendra du 8 au 12 juin au centre Olympia de Londres, avec un pavillon national dédié (Pavillon n°121). La Confédération des Entreprises Citoyennes de Tunisie (CONECT), sa branche CONECT International et la Chambre de Commerce Tuniso-Britannique (TBCC) ont lancé l’appel à candidatures pour intégrer la délégation officielle tunisienne. L’événement, présenté comme l’un des rendez‑vous majeurs de l’innovation en Europe, réunira cette année plus de 50 000 participants et 600 conférenciers internationaux, dont Jensen Huang, PDG de Nvidia. "Cette participation vise à renforcer l’attractivité de l’écosystème technologique tunisien et à accélérer l’internationalisation de ses compétences", indique CONECT dans un message publié sur ses réseaux sociaux. Un dispositif de soutien institutionnel et financier Le Pavillon n°121 offrira aux startups et PME tunisiennes un espace pour rencontrer des investisseurs, nouer des partenariats mondiaux et promouvoir leurs innovations disruptives. La mission économique est soutenue par un large réseau d’acteurs institutionnels et sectoriels, notamment l’ambassade de Tunisie à Londres, l’ambassade britannique à Tunis, FIPA‑Tunisia et ATUGE UK. Pour maximiser l’impact de la présence tunisienne, les entreprises sélectionnées bénéficieront d’un appui financier et opérationnel via le projet « Innovative SMEs Startups », financé par le Groupe de la Banque mondiale. Ce dispositif est mis en œuvre par la Caisse des Dépôts et Consignations (CDC) Tunisie, en partenariat avec Smart Capital, promettant un accompagnement de "haut niveau" selon les organisateurs. Détails pratiques et critères de candidature Les organisateurs invitent les entreprises, opérateurs économiques et startups souhaitant rejoindre la délégation à soumettre leur candidature sans délai. Les dossiers doivent être transmis par voie électronique auprès de la TBCC ( [email protected] ) ou de la CONECT International ( [email protected] ). Le pavillon vise explicitement les startups et PME innovantes désireuses d’accélérer leur internationalisation et de rencontrer des investisseurs de premier plan pendant la semaine dédiée à l’intelligence artificielle et aux nouvelles industries. Dates : 8–12 juin 2026 Lieu : Centre Olympia, Londres — Pavillon n°121 Participants attendus : plus de 50 000 Intervenants annoncés : environ 600, dont Jensen Huang (Nvidia) Soutiens : ambassade de Tunisie à Londres, ambassade britannique à Tunis, FIPA‑Tunisia, ATUGE UK Appui financier : projet « Innovative SMEs Startups », financé par le Groupe de la Banque mondiale, mis en œuvre par CDC Tunisie en partenariat avec Smart Capital La présence tunisienne à London Tech Week constitue une opportunité concrète pour les acteurs technologiques locaux de se positionner sur la scène européenne et mondiale. Les organisateurs misent sur une délégation ciblée pour transformer la visibilité de l’écosystème tunisien en accords commerciaux, levées de fonds et collaborations internationales pendant l’un des principaux événements tech du calendrier. --- ## Oman launches nation’s first AI-powered autonomous asphalt paving technology URL: https://startupsmena.com/oman-launches-nations-first-ai-powered-autonomous-asphalt-paving-technology-mpp4sil2 Date: 2026-05-28 Category: tech Tags: oman, ai, construction, infrastructure, fast-company-middle-east **Summary:** Oman has deployed the nation’s first AI-powered autonomous asphalt paving system in Dhofar to improve road surface quality, reduce long-term maintenance costs and enable data-driven lifecycle management, according to Fast Company Middle East. Oman has introduced the nation’s first AI-powered autonomous asphalt paving technology, deploying an AI-driven paving system in Dhofar with the stated goals of improving road quality, reducing long-term maintenance costs and accelerating infrastructure development across the sultanate, Fast Company Middle East reports. "Oman launches nation’s first AI-powered autonomous asphalt paving technology," the report states, reflecting the government and industry push toward digitised construction and smarter infrastructure management, according to Fast Company Middle East. The new paving system, presented in Dhofar, represents a step toward automation in heavy civil works in Oman. While Fast Company Middle East’s coverage highlights the technology’s potential to raise standards of surface finish and consistency, the announcement also emphasises expected lifetime cost savings from reduced rework and more efficient material use. Officials and stakeholders involved in the Dhofar rollout described the project as an effort to marry machine learning and robotics with traditional roadbuilding practices to deliver faster, more resilient routes. Industry observers note several practical advantages to autonomous paving platforms: more consistent compaction, tighter tolerances on layer thickness, and continuous data collection for quality assurance. Those features can feed maintenance planning and budget forecasts, turning what has traditionally been episodic road repair into a data-driven lifecycle approach. Fast Company’s wider coverage places the Dhofar pilot in the context of broader climate and infrastructure finance trends — noting, for example, that "Global climate funding hits $136.7 billion in 2024" — suggesting an environment in which governments and private partners are seeking scalable, lower-emission construction solutions. What the technology means for Oman Quality control: Autonomous systems can monitor and adjust paving parameters in real time, improving surface uniformity and potentially extending pavement life. Cost efficiency: Initial deployment costs are expected to be offset by reductions in rework and longer intervals between major resurfacing projects. Data-driven maintenance: Continuous telemetry from AI-equipped machines can help authorities prioritise repairs and optimise asset management budgets. For Oman’s private sector and public works agencies, the Dhofar deployment will act as an early test case for wider adoption. Fast Company Middle East’s note of the project aligns with regional interest in modernising infrastructure: other headlines on the outlet reference major investment themes such as the GCC insurance market’s projection and significant regional funds, underscoring the financial backdrop for such technology experiments. Looking ahead, the success of the Dhofar pilot will likely determine whether autonomous paving becomes a standard approach on larger Omani programmes. If the system delivers on promised improvements in road quality and lifecycle cost reductions, procurement frameworks and contractors may increasingly specify AI-enabled equipment. For now, the Fast Company Middle East report frames the launch as a signalling moment — one that positions Oman among the early adopters in the region testing how automation and AI can reshape the economics and performance of public infrastructure. --- ## Forecasts: Oman defence market URL: https://startupsmena.com/forecasts-oman-defence-market-naval-technology-mpp4q7az Date: 2026-05-28 Category: other Tags: oman, defence, air-defence, naval-technology, us-iran-tensions **Summary:** Oman's defence market is expected to grow as authorities redirect spending toward air-defence, integrated sensors and naval capabilities, driven largely by regional US‑Iran tensions and elevated threat perceptions. Oman defence market set to surge as spending shifts to air defence Oman’s defence market is expected to expand in the coming years as authorities redirect resources toward air-defence capabilities and other priority requirements, Naval Technology reports. Observers point to regional tensions — particularly US‑Iranian hostilities — as a key factor driving the increase in defence allocations and procurement planning across maritime and aerial domains. "Oman’s defence spending rise is tied in part to US‑Iranian hostilities." The line above appears in Naval Technology’s coverage of the Sultanate’s defence outlook and underscores how geopolitical dynamics are influencing Muscat’s procurement posture. The Naval Technology piece, which also highlights access to premium forecasts and analyst commentary via its platform, frames the expected upswing in spending around risk perceptions in the Gulf and the need to modernise both air and naval assets. Naval Technology and its platform partners, including GlobalData as referenced in the site’s user prompts, offer subscribers access to exclusive analyst commentary, premium forecasts and data-driven insights that inform assessments of markets such as Oman. The site notes that creating a free profile unlocks analyst insight and alerts when new premium content is published, signalling that the forecasts referenced are drawn from paid, data-led products maintained by the publisher. Context and drivers Regional security: Naval Technology explicitly links the rise in Oman’s defence spending to broader US‑Iran tensions, a recurring factor shaping Gulf defence procurement. Priority areas: The market shift includes a focus on air-defence needs alongside ongoing naval requirements, consistent with the country’s interest in protecting airspace and maritime approaches. Information sources: The Naval Technology report references premium content and analyst forecasts available to registered users, indicating the assessment draws on specialist intelligence and market modelling. Visual and editorial credit: The article’s image is credited to Bumble Dee via Shutterstock, reflecting the publisher’s use of licensed imagery in its coverage. Naval Technology’s coverage stresses that the expected market growth is not purely a reaction to a single incident but to an elevated threat environment that encourages investment in layered air-defence, surveillance and supporting logistics. While the publicly available excerpt does not list specific platform purchases or contract values, the publisher positions its premium forecasts as the source for detailed project-by-project and budgetary analysis. Outlook Market watchers expecting procurement opportunities in Oman should anticipate demand concentrated on air-defence systems, integrated sensors and complementary naval capabilities. Naval Technology’s invitation to access “exclusive forecasts, analyst insights and in‑depth defence industry analysis” suggests further detail — including supplier shortlists and timelines — is available through its paid services. For now, the clearest public takeaway is that Oman’s defence spending trajectory has turned upward, driven in part by regional geopolitical friction and an evident prioritisation of air-defence needs. --- ## AI Funding in 2026: Where Venture Capital Is Going URL: https://startupsmena.com/ai-funding-in-2026-where-venture-capital-is-going-mpp0l94x Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Traditional venture capital firms, even the largest, don’t have the balance sheet to write $30 billion or $122 billion rounds. The firms that do are sovereign wealth funds and they’ve become arguably Global AI funding exploded in Q1 2026, with investors pouring roughly $300 billion into about 6,000 startups, according to Crunchbase. A handful of megadeals dominated that tidal flow: OpenAI closed a $122 billion round that pushed its valuation to $852 billion; Anthropic raised $30.6 billion (and returned in April for an additional $15 billion); xAI secured $20 billion; and Waymo pulled in $16 billion. Together, those four deals accounted for nearly two-thirds of all global venture capital in the quarter, and PitchBook reports that OpenAI, Anthropic and xAI alone captured 67% of AI funding in Q1 2026. "Investors now treat frontier AI infrastructure as a sovereign wealth-class asset, not traditional venture capital," an analyst told theaiinsider.tech, a remark that underscores how the capital profile of large AI projects has shifted. Who is writing the biggest checks Traditional venture capital firms lack the balance sheet to underwrite the $30 billion and $122 billion rounds that have defined 2026 so far. Sovereign wealth funds have stepped into that role. Temasek participated in OpenAI’s record raise, the Qatar Investment Authority backed Anthropic, and the Public Investment Fund (Saudi Arabia) and Abu Dhabi’s Mubadala Investment Company have both substantially increased AI allocations through 2025 and into 2026. Combined, sovereign wealth funds manage assets exceeding $12 trillion, giving them deployment capacity that dwarfs traditional VCs. The strategic logic is simple: sovereign investors seek pre-IPO equity in companies they view as foundational infrastructure for the global economy. When single-company capital demands exceed what venture can provide, governments and sovereign funds are filling the gap — effectively recategorising frontier AI development into a different financing class. Where the rest of the money is going AI infrastructure: Investors are backing the "picks-and-shovels" of AI. Databricks raised a major round, while infrastructure specialists like Nscale and CoreWeave continue to attract capital. In April, Infor Capital data showed 145 deals in AI infrastructure versus 280 for general-purpose LLM and generative AI tools. Physical AI and robotics: Capital is flowing into hardware and embodied systems — Figure raised $1 billion in Series C, Apptronik secured $935 million, FieldAI raised $405 million, and Reliable Robotics pulled in $160 million. Defense technology: After record funding in 2025 ($8.5 billion), defence-related AI deals persist. Shield AI closed a $1.5 billion Series G at a $12.7 billion valuation (up 140% year-over-year), while Anduril continues to raise at scale. Vertical AI applications: While horizontal platforms captured $197 billion in Q1, investors are also targeting specialised AI for healthcare, legal, finance and construction where domain expertise creates defensible moats. The market is highly concentrated: PitchBook notes the remaining $83.5 billion in Q1 was split across 1,543 deals, and median pre-money valuations nearly doubled from $30 million in Q4 2025 to $69.9 million in Q1 2026. The venture-growth stage median leapt more than 165% to $868.4 million, and the Crunchbase Unicorn Board added $900 billion in value in a single quarter. Outlook: capital availability is bifurcated. Frontier AI labs and infrastructure capture outsized allocations from sovereign and state-linked pools, while most other founders face a tighter funding environment despite record dollar volumes. For startups and investors, the key question going forward will be whether sovereign-backed allocations continue to concentrate power at the top or whether new classes of investors and infrastructure plays can spread the opportunity more broadly across the ecosystem. --- ## Why the next wave of global fintech innovation may come from the Middle East URL: https://startupsmena.com/why-the-next-wave-of-global-fintech-innovation-may-come-from-the-middle-east-the-jerusalem-post-mpp0gycq Date: 2026-05-28 Category: fintech Tags: fintech, remittances, regulation, vision-2030, uae, saudi-arabia, bahrain, egypt **Summary:** Middle Eastern governments are channeling resources into fintech (e.g., Saudi Vision 2030, UAE FinTech strategy) while high youth populations and large remittance flows are driving demand and developer activity in hubs such as Dubai, Riyadh and Cairo. Governments across the Middle East have steered major resources into fintech, creating an environment where private developers and startups can rapidly scale digital financial services. Saudi Arabia's Vision 2030, the UAE's FinTech strategy and Bahrain's role as a regulatory sandbox are cited as central drivers in a May 25, 2026 Jerusalem Post report by Hannah Schwartz, which also highlights that more than 60% of the region's population is under 30 and that the region sends "hundreds of billions of dollars" in remittances annually. The article points to rising crypto payments, growing developer hubs in Dubai, Riyadh and Cairo, and the increasing availability of Fintech crypto APIs as factors converging to boost innovation. On the record "The Middle East is rapidly transforming from a fintech follower into a global innovation leader," writes Hannah Schwartz in the Jerusalem Post piece published on May 25, 2026. Regulation, demand and technical capacity That transformation, Schwartz writes, is built on three interlocking trends. First, national strategies such as Saudi Arabia's Vision 2030 and the UAE's FinTech strategy have channelled state attention and resources into financial technology. Second, demographic and behavioural factors — a population with over 60% under 30, high smartphone penetration and a preference for instant, mobile-first services — have created consumer demand for digital wallets, contactless payments and instant cross-border transfers. Third, the region is addressing longstanding frictions in payments: remittance flows worth hundreds of billions of dollars are an attractive use case for crypto and blockchain tools that can cut transaction costs. Schwartz highlights that regulators in these markets are "actively working with fintech companies rather than against them," an approach she contrasts with more conservative regulatory postures elsewhere. Bahrain's positioning as a regulatory sandbox is presented as a deliberate move to attract fintech startups that need a predictable compliance environment during early-stage experiments. What developers are building Payment infrastructure tailored to e-commerce and retail platforms B2B invoicing tools supporting multi-currency transactions Compliance-ready onboarding flows that meet local regulatory requirements DeFi integrations providing access to global financial products The report also names specific technical building blocks gaining traction among developers: crypto payment gateways and Fintech crypto APIs that handle wallet management, transaction verification and currency conversion. These tools are credited with allowing engineering teams to focus on user experience while outsourcing complex backend processes. Outlook Schwartz concludes that the region is not merely catching up but is "already in motion," with Cairo, Dubai and other hubs producing production-grade financial software. For investors, developers and businesses tracking fintech's next phase, the Jerusalem Post piece argues the signal is clear: the Middle East offers a fertile mix of demand, regulation and developer talent that could seed the next global wave of financial-technology innovation. The article was produced in cooperation with AMRYTT MEDIA. --- ## Arab innovation leaders, tech experts open forum in Amman URL: https://startupsmena.com/arab-innovation-leaders-tech-experts-open-forum-in-amman-the-jordan-news-agency-mpow901w Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Amman, May 20 (Petra) - The Talal Abu-Ghazaleh Global Digital (TAG.Global), the Arab Network for Creativity and Innovation (ANCI), the Arab Satellite and Digita... Amman, May 20, 2026 — The Talal Abu-Ghazaleh Global Digital (TAG.Global), the Arab Network for Creativity and Innovation (ANCI), the Arab Satellite and Digital Broadcasting Authority and the Arab Smart Cities Forum on Wednesday opened the "Innovation in the Time of Challenges Forum" in Amman, bringing together Arab leaders, experts and decision-makers in innovation and technology. Senate President Faisal Fayez delivered opening remarks, while Talal Abu-Ghazaleh, ANCI Secretary-General Fahd Al‑Amleh and former ministers including Yacoub Sarraf and Maen Qatamin addressed the gathering on the risks and opportunities posed by rapid technological change. "Innovation is a defining moment of the age, where the capacity to keep pace with rapid technological change has become indispensable for progress and prosperity," Senate President Faisal Fayez said in his opening remarks. Key announcements and messages Talal Abu‑Ghazaleh, chairman and founder of TAG.Global and chairman of the board of trustees of the Arab Network for Creativity and Innovation, said "investment in the future is the real investment and the true path to success for individuals, institutions and states." He used the forum to announce the launch of the Arab Authority to Support Investment in Innovation and unveiled plans for a scientific and artistic education initiative aimed at equipping graduates for labor market needs. ANCI Secretary‑General Fahd Al‑Amleh emphasized youth agency at the event: "the forum underlines that Arab youth are capable of shaping the future and leading it, rather than being on the sidelines." He added that "Innovation is no longer an intellectual luxury, but a prerequisite for survival," warning that nations that fail to produce knowledge will remain dependent on those who do. Discussion topics and regional context Faisal Fayez framed Jordan as a regional model for innovation and entrepreneurship, crediting "a favorable investment climate and advanced digital infrastructure" and backing from His Majesty King Abdullah II and His Royal Highness Crown Prince Al‑Hussein bin Abdullah II for technology, the digital economy and innovation sectors. Former Lebanese Minister Yacoub Sarraf warned of misdirected Western innovation and "diverted towards developing instruments of death, military artificial intelligence, cyber threats, and phone hacking," and called for an Arab‑centered digital ecosystem based on Arabic‑language software rather than translated Western systems. Former Minister Maen Qatamin cautioned that the accelerating pace of artificial intelligence "is generating unprecedented challenges," and warned that a coming wave of disruption could significantly impact jobs and traditional markets as a handful of major technology firms tighten their grip on the global economy. The forum agenda included the role of governments and international organisations in supporting Arab innovation ecosystems, digital transformation, cybersecurity, Arab water and food security, artificial intelligence applications in healthcare and education, and human development in the age of smart transformation. Organisers presented the forum as a convening point for policymakers, private sector leaders and youth to coordinate responses to technological disruption and to deepen regional cooperation. With the launch of the Arab Authority to Support Investment in Innovation and proposed education initiatives, speakers signalled a shift from diagnosis to action — aiming to strengthen local capacity, increase Arabic‑language digital infrastructure and prepare graduates for evolving labour market demands. --- ## Innovations in Poverty Eradication in Jordan URL: https://startupsmena.com/innovations-in-poverty-eradication-in-jordan-the-borgen-project-mpow6cqp Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** Innovations in poverty eradication in Jordan combine digital assistance, job creation, climate-smart solutions and humanitarian technology. Jordan is combining digital cash transfers, job creation programs, youth-led climate innovation and humanitarian technology to tackle persistent poverty driven by unemployment, water scarcity and the responsibilities of hosting refugees. Key interventions cited by The Borgen Project and development partners include the National Aid Fund Cash Transfer Program — which provided monthly support to 220,000 households and reached an estimated 62% of the country’s most impoverished people in 2021 — and a suite of employment and training operations that the World Bank says have placed 48,000 Jordanians into formal-sector jobs. "The Borgen Project is an incredible nonprofit organization that is addressing poverty and hunger and working towards ending them," Digital aid and social protection Development actors point to digital payments as a practical innovation that reduces barriers to assistance. The National Aid Fund Cash Transfer Program uses basic bank accounts and e-wallets to deliver monthly support, a shift that addresses common obstacles such as lack of access to banking, transportation and public services. According to the World Bank figures cited by The Borgen Project, digital cash assistance has helped expand coverage and give families more control over urgent needs. From assistance to employment Jordan’s anti-poverty approach pairs transfers with programs aimed at longer-term economic mobility. The World Bank reports that supported operations have helped 48,000 Jordanians secure formal-sector employment, with women accounting for 52% of those placements. Complementary initiatives are training people for market-ready skills: 30,000 individuals receive on-the-job training and more than 4,000 have been trained in the digital sector, according to the same reporting. These combined measures are designed to move households from short-term support to sustainable income. Youth-led water and climate solutions Water scarcity remains a core development challenge in Jordan. The United Nations Development Programme’s project, "Scaling Up Water Innovation for Climate Security in Northern Jordan," targeted that problem by backing youth-led businesses working on water- and agriculture-focused technologies. The project received a $570,000 grant from the Swedish International Development Cooperation Agency (SIDA) through the SDG-Climate Facility. UNDP trained 25 startups in financial modeling, customer development and value proposition design; seven youth-led SMEs developed solutions using artificial intelligence, the Internet of Things, hydroponics, vertical farming and improved irrigation. UNDP reporting notes that some of these innovations reduced water consumption by up to 20% while improving household-level agricultural productivity — an example of how climate-smart technologies can directly reduce costs and protect incomes for vulnerable families. Humanitarian technology and refugees Humanitarian agencies have also turned to new technologies to improve efficiency for refugee assistance. The World Food Programme’s Building Blocks system uses blockchain to coordinate cash-based food assistance. WFP reports that Building Blocks serves more than one million refugees in Jordan and Bangladesh and has processed $555 million in cash-based interventions through 25 million transactions. The platform aims to cut duplication, protect beneficiary data and reduce bank fees, making scarce resources stretch further. 220,000 households reached monthly by the National Aid Fund Cash Transfer Program 62% coverage of the most impoverished in 2021 (World Bank) 48,000 formal-sector job placements; women 52% of placements (World Bank) $570,000 SIDA grant to UNDP project via SDG-Climate Facility Building Blocks: more than one million refugees served; $555 million processed in 25 million transactions (WFP) Looking ahead, development actors and local entrepreneurs say Jordan’s strongest gains come when social protection, digital inclusion, youth employment and climate resilience are linked. By pairing cash assistance with job training and climate-smart business support, the country aims to convert short-term relief into lasting opportunity — a model that international partners and local innovators continue to refine. --- ## Saudi Arabia powers sustainability race as EV sales in ME surge 40% URL: https://startupsmena.com/saudi-arabia-powers-sustainability-race-as-ev-sales-in-me-surge-40-arab-news-mporvwfd Date: 2026-05-28 Category: tech Tags: mena, startup **Summary:** RIYADH: Saudi Arabia is emerging as the Middle East’s leading force in electric vehicle adoption and manufacturing as governments across the region accelerate efforts to cut oil dependence, strengthen Electric vehicle adoption in the Middle East surged in 2025 as sales reached roughly 75,000 units, a 40 percent year‑on‑year increase, the International Energy Agency reported, with Saudi Arabia and Qatar together accounting for about 45 percent of regional demand. The UAE remained the largest single market in 2025 — representing almost half of sales — but its share has fallen from more than 60 percent in 2023 as neighbouring markets gain momentum. The shift comes as Saudi Arabia pushes EVs under Vision 2030, which targets net‑zero emissions by 2060 and aims for 30 percent of all vehicles in Riyadh to be electric by 2030 as part of a plan to cut emissions in the capital by 50 percent. “This structural shift is propelled by Saudi Arabia’s aggressive Vision 2030 local manufacturing investments, such as the Lucid and Ceer facilities in King Abdullah Economic City, alongside Qatar’s rapid electrification of its public transport infrastructure,” said Joseph Salem, partner and head of travel, transportation and hospitality practice at Arthur D. Little Middle East. Salem highlighted the scale of planned local production: “Lucid Motors is significantly expanding its AMP‑2 facility in KAEC to a targeted installed annual capacity of 150,000 fully assembled units. Simultaneously, the homegrown EV brand Ceer, a joint venture between the Public Investment Fund and Foxconn, is constructing a 1 million sq. meter facility designed to produce up to 240,000 vehicles annually by its targeted launch in late 2026.” The IEA report and industry experts point to a combination of falling global battery costs and a rapid influx of competitively priced Chinese models reshaping the market. When regional electric car sales began to scale in 2020, Tesla accounted for about half of all sales; its share has since dropped to roughly 15 percent. BYD, which entered the regional market in 2022, has expanded to capture around 60 percent of regional EV sales. Local executives and analysts say the transition remains uneven. “The region’s young population is also more willing to adopt and experiment with new technologies,” said Hashim Al‑Fatayerji, CEO of Cararak, adding that growth is being driven by Vision 2030, infrastructure investments, EV manufacturing projects and increasing fleet electrification. Safak Yucel, associate director of Georgetown McDonough’s Business of Sustainability Initiative, noted a market split in vehicle positioning: “What makes the adoption in Saudi Arabia and Qatar exciting is that they cater more toward a mass‑market approach. Although still small, this market expansion can be relevant for further adoption in the region.” Charging infrastructure is expanding to support the ramp-up. ADNOC Distribution increased its fast and super‑fast charging network in the UAE by 1.4x year‑on‑year to reach 400 points by early 2026, while the Saudi Eviq joint venture is targeting the installation of 5,000 fast chargers by 2030 to enable inter‑city mobility. Salem cautioned that broader consumer uptake will depend on addressing issues such as charging density, extreme heat performance and long‑term resale values. Outlook Manufacturing scale — led by Lucid and Ceer facilities — aims to supply domestic and regional fleets, with Lucid targeting 150,000 units annually and Ceer up to 240,000 units by late 2026. Market composition has shifted from premium dominance in the UAE toward a mass‑market push in Saudi Arabia and Qatar, largely driven by Chinese OEMs like BYD. Infrastructure build‑out from national oil companies and joint ventures, plus fleet electrification, will determine whether the current surge matures into sustained adoption across the Gulf. --- ## Egypt Expands Export Incentives to Boost Semiconductor and High-Tech Services Growth URL: https://startupsmena.com/egypt-expands-export-incentives-to-boost-semiconductor-and-high-tech-services-growth-techafrica-news-mpolbw7t Date: 2026-05-27 Category: tech Tags: egypt, semiconductors, export-incentives, itida, edf, ai, high-tech **Summary:** Egypt has expanded its Export Development Program to include electronics design, semiconductors, embedded systems and mobile-related services in a seven-year extension, offering performance-based incentives tied to export growth and job creation to accelerate high-tech export expansion. Egypt has expanded its export incentive framework to include electronics design, semiconductors, embedded systems and mobile-related services, in a seven-year extension to the Export Development Program beginning in fiscal year 2025/2026. The agreement, signed between the Information Technology Industry Development Agency (ITIDA) and the Export Development Fund (EDF), was witnessed by H.E. Eng. Raafat Hindy, Minister of Communications and Information Technology, and H.E. Dr. Mohamed Farid, Minister of Investment and Foreign Trade. The move enables eligible companies to access performance-based export incentives tied to actual export growth and job creation. Key quote "Integrating electronics and semiconductor design services into the Export Rebate Program represents a major step toward advancing high-tech industries and increasing Egypt’s competitiveness in global value chains," said H.E. Eng. Raafat Hindy. Details and context The memorandum of cooperation tasks ITIDA with leading global promotion, providing technical enablement and supporting companies to access the program, while the EDF will administer incentives. A joint coordination committee will be established within one month to oversee implementation and ensure effective execution. The incentives are performance-based and explicitly linked to measured export expansion and job creation, according to EDF and ministry statements. Scope: electronics design, semiconductor, embedded systems and mobile-related services included for seven years starting FY 2025/2026. Ecosystem: Egypt hosts a growing cluster of more than 86 multinational and local companies operating in electronics and embedded systems design. Value proposition: ITIDA CEO Eng. Ahmed Elzaher said the sector's value-added is "exceeding 90%," positioning it among the highest-value segments within the global offshoring industry. H.E. Dr. Mohamed Farid framed the inclusion of high-tech services as part of a strategic shift to boost knowledge-based exports and diversify Egypt’s export base. "The newly introduced incentives are directly linked to measurable export performance, ensuring efficiency and sustainability," he said, adding that reforms aim to enhance regulatory agility and attract investments in advanced sectors such as artificial intelligence, cloud computing, semiconductors, and data centers. Officials also reviewed a set of joint digital transformation initiatives designed to improve the investment climate. These initiatives include an integrated digital platform connecting multiple government entities to streamline procedures, unify services and reduce processing times for investors, plus a digitally redesigned end-to-end investor journey to simplify licensing and strengthen transparency. Dr. Amani El-Wasal, Executive Director of the Export Development Fund, said the Fund is "expanding its digital capabilities and integrating new high value-added sectors to support export growth and facilitate faster access to incentives." Outlook Authorities say the package is intended to accelerate international market expansion for Egypt’s high-tech services and attract R&D and design centres aligned with the presidential "Egypt Makes Electronics" initiative. With ITIDA leading promotion and a joint committee in place to monitor rollout, the next 12 months will be critical to translate the seven-year program into measurable export gains, new jobs and faster time-to-market for local technology firms. --- ## Saudi Arabia’s premium dining sector turns to new financing models URL: https://startupsmena.com/saudi-arabias-premium-dining-sector-turns-to-new-financing-models-arab-news-mpol8atw Date: 2026-05-27 Category: tech Tags: mena, startup **Summary:** RIYADH: Saudi Arabia’s rapidly expanding foodservice industry is fueling demand for new financing models as Vision 2030 accelerates tourism and hospitality growth. With restaurant sales rising about 7 Saudi Arabia’s premium dining sector is increasingly turning to alternative financing as Vision 2030-driven tourism and hospitality growth outpace traditional bank support. Restaurant sales are rising about 7 percent annually, according to Bain & Co., while the Kingdom’s tourism sector welcomed an estimated 122 million visitors and generated SR300 billion in tourism spending in 2025. Yet conventional bank lending remains concentrated: small and medium-sized enterprise (SME) credit reached SR467.7 billion at the end of 2025, with banks providing SR446.6 billion of that total, and lending to MSMEs representing 11.5 percent of bank loan portfolios — up from 9.6 percent a year earlier but still below the Vision 2030 target of 20 percent. “The distribution of this capital reveals the structural issue. Micro enterprises — those with annual revenues below SR3 million, where most independently owned premium concepts sit — received only SR83.3 billion, while medium-sized enterprises absorbed SR220.9 billion,” Arjun Vir Singh, partner and global head of financial services at Arthur D. Little, told Arab News. Singh says the mismatch between available capital and the needs of premium, asset-light dining operators is driving the rise of revenue-linked financing, fintech platforms and non-bank lenders. He identified three core reasons traditional bank financing falls short in the premium F&B segment: approval timelines that “do not match the speed at which operators need to act,” collateral-based underwriting that is “ill-suited to asset-light, brand-driven businesses,” and fixed repayment schedules that are “misaligned with highly variable revenues shaped by seasonality, Ramadan cycles, and tourism.” Why new models are gaining traction SME credit in Saudi Arabia: SR467.7 billion at end-2025 (banks SR446.6bn). Micro enterprises ( Tourism footprint: 122 million visitors and SR300 billion in spending in 2025. Industry consultants say technology and richer data are reshaping both operations and financing. “On the operational side, AI-driven tools are materially improving unit economics,” Singh said, citing menu engineering, demand forecasting, dynamic pricing and personalized engagement. On the financing side, he added, “Restaurant POS data now captures revenue patterns, customer behavior, and seasonality in real time — making revenue traction effectively the new collateral.” Federico Piro, partner at Bain & Co., said alternative channels will matter as consumer expectations evolve: “MENA’s growth is being shaped by channel evolution and rising expectations on convenience, especially in markets like the UAE, where e-commerce is already meaningful and still expanding.” Paolo Misurale, also a partner at Bain & Co., highlighted regional volume growth of about 4–6 percent in Saudi Arabia and the UAE versus a global average below 2 percent, stressing that “success will depend less on innovation alone and more on scaling what works efficiently, supported by data and AI.” Innovative local players are already deploying new structures. SPICE, a Saudi-born premium dining platform, offers Shariah-compliant, non-dilutive growth capital by pre-purchasing future food credits so venues access upfront funding without debt or equity dilution; repayment is tied to customer spending via the SPICE app. “That experience is what SPICE was built on, and it is why our model is designed the way it is to put restaurants and their growth first,” said Zeid Husban, co-founder and CEO of SPICE. Outlook: As giga-projects, events and tourism continue to lift demand for upscale dining, alternative lenders and data-driven fintechs are poised to fill a financing gap left by bank underwriting practices. The combination of real-time POS data, open-banking infrastructure and AI-supported operations could make revenue-linked products and non-bank capital the default path for many premium restaurants seeking rapid, flexible expansion under Vision 2030. --- ## Yi He Becomes First Crypto-Native Executive Named to Fortune’s Most Powerful Women in Business List - 新浪香港 URL: https://startupsmena.com/yi-he-becomes-first-crypto-native-executive-named-to-fortunes-most-powerful-women-in-business-list--mpo17kao Date: 2026-05-27 Category: tech Tags: mena, startup **Summary:** ABU DHABI, UAE, May 27, 2026 /PRNewswire/ — Yi He, Co-CEO and Co-Founder of Binance, has been named to Fortune’s annual Most Powerful Women in Business list in 2026, becoming the first crypto-native… Yi He, Co-CEO and Co‑Founder of Binance, has been named to Fortune’s 2026 Most Powerful Women in Business list, becoming the first crypto‑native executive to appear on the global ranking. The recognition places Yi among 100 of the world’s most influential business leaders and comes as Binance — founded in 2017 — reports more than 310 million registered users and processed $34 trillion in trading volume during 2025, bringing its cumulative all‑time volume to $145 trillion by the end of 2025. In December 2025 Yi was appointed Co‑CEO alongside Richard Teng as Binance moves into a dual‑leadership structure. “Being named to Fortune’s Most Powerful Women list feels meaningful — not just for me, but for crypto as a whole,” Yi said. “A few years ago, a founder from this industry showing up on a list like this would have been unusual. Today, it reflects how far we’ve come: from the edge of finance toward the center of how the world actually works.” Context and career arc The inclusion of Yi He on Fortune’s list, now in its 29th year, signals a widening view of what constitutes global corporate leadership. Fortune’s Editor in Chief and Chief Content Officer Alyson Shontell noted the international composition of the list in the official release: “In its 29th year, this iconic list of powerful women includes almost half from outside of the U.S., reminding us that the impact of women leadership is being seen globally.” Yi’s path to the top of crypto is unconventional. She grew up in a rural village in Sichuan without running water or electricity, worked in a supermarket at sixteen, later became a television host, entered the tech industry and taught herself English in her thirties before co‑founding Binance in 2017. Within the crypto community she is known as Binance’s ‘chief customer service officer,’ a nickname that reflects a long‑standing focus on product and user experience. Under the pair of Co‑CEOs — Yi’s strategic and product expertise paired with Richard Teng’s regulatory and operational leadership — Binance has expanded beyond spot and derivatives trading into a broader suite of products and services. The company describes itself as a global blockchain ecosystem and digital asset infrastructure provider trusted by more than 310 million people in 100+ countries, with ambitions to build a “financial super app for the digital economy.” Registered users: more than 310 million 2025 trading volume: $34 trillion Cumulative all‑time volume by end of 2025: $145 trillion Founded: 2017 Co‑CEO appointment: December 2025 Yi framed the recognition as both personal and industry‑wide in a second passage of remarks: “I’m honored by this recognition, and it only deepens my commitment to the 310 million people who place their trust in Binance every day — including a son in Nairobi sending wages home to his mother, and a woman in a small Indian city opening her first account at fifty. Finance has never been equally kind to everyone, and that trust is something we have to earn every day.” Looking ahead, Yi outlined an ambitious horizon for crypto’s role in financial inclusion: “Three hundred and ten million is a number we’re grateful for. It’s also a small fraction of the people this industry was built to serve. We’re working toward three billion — roughly everyone still outside the formal financial system today. A future where money moves as freely as information, where people, software, and AI agents share the same open economy, where no one needs permission to take part. That vision is what keeps me going. In many ways, it still feels like day one.” --- ## Why Dubai is Becoming a Global Hub for E-Commerce Startups URL: https://startupsmena.com/why-dubai-is-becoming-a-global-hub-for-e-commerce-startups-mpnls5jv Date: 2026-05-27 Category: tech Tags: mena, startup **Summary:** One major reason Dubai e-commerce startups continue to grow is the government’s support for entrepreneurs. ... The UAE government has consistently introduced policies designed to encourage innovation Dubai is rapidly consolidating its position as a global launchpad for e‑commerce startups, driven by a combination of strategic geography, regulatory clarity and specialised private-sector support. In a May 26, 2026 piece for ReCorporate, author Pooja Negi highlights the Emirate’s role as a hub that connects markets across the Middle East, Asia, Europe and Africa, and notes practical advantages such as simplified company registration, multiple business setup options, investor‑friendly regulations and advanced logistics and payments infrastructure. "Our mission is simple: to empower entrepreneurs with the tools, knowledge, and guidance they need to turn ideas into thriving businesses in one of the world’s most dynamic economies," said ReCorporate, the Dubai‑based business setup consultancy cited in the article. What is making Dubai attractive to e‑commerce founders The ReCorporate analysis points to several concrete factors that are reshaping the calculus for founders choosing where to base online ventures. Strategic location: Dubai’s geographic position enables faster shipping and easier international operations to customers across multiple continents, allowing companies to manage international trade from a single base. Business‑friendly policies: The UAE government has "consistently introduced policies designed to encourage innovation and foreign investment," including streamlined company registration and robust legal frameworks for business operations. Logistics and delivery: Heavy investment in international airports, smart warehouses, shipping hubs, advanced supply‑chain systems and efficient transport networks supports rapid fulfilment both domestically and internationally. Digital payments and fintech: Rising consumer use of mobile payments, contactless transactions, digital wallets, buy‑now‑pay‑later options and secure online gateways is improving checkout conversion and payment flexibility for merchants. How business setup partners plug into the ecosystem ReCorporate, described in the source as "Dubai’s leading business setup consultancy" and based on Sheikh Zayed Road, is cited as an example of the specialist firms smoothing market entry for international entrepreneurs. The company offers company formation, PRO services, corporate banking and visa solutions, and says it has helped "thousands of entrepreneurs, investors, and corporations establish their presence in the UAE." The consultancy also promotes end‑to‑end support from trade license approvals to Golden Visas and banking assistance. The source material underscores practical FAQs that founders frequently face: startup costs vary by mainland vs free‑zone setups; many company structures permit full foreign ownership; a valid e‑commerce or trade license is generally required to sell online; and payment gateways should support multiple currencies and local methods. Outlook With a mix of geographic reach, regulated business frameworks, deep logistics capacity and an expanding fintech stack, Dubai provides an operational environment that e‑commerce startups can use to scale internationally. As the online retail landscape evolves, entrepreneurs and established companies alike are being offered a pragmatic combination of infrastructure and advisory services—such as those promoted by ReCorporate—that aim to reduce setup friction and accelerate growth from a base on Sheikh Zayed Road. --- ## Binance Expands Pre-IPO Perpetuals with OpenAI Listing Following Strong Early Market Response URL: https://startupsmena.com/binance-expands-pre-ipo-perpetuals-with-openai-listing-following-strong-early-market-response-newspa-mpnix4dl Date: 2026-05-27 Category: tech Tags: mena, startup **Summary:** ABU DHABI, UAE, May 26, 2026 — Binance today announced the listing of its second Pre-IPO Perpetual Contract on Binance Futures, OPENAIUSDT Pre-IPO Perpetual, based on the anticipated public market val ABU DHABI, UAE — Binance has listed its second Pre-IPO Perpetual Contract on Binance Futures, OPENAIUSDT Pre-IPO Perpetual, based on the anticipated public market valuation of OpenAI Group PBC. The launch, announced May 26, 2026, follows a strong early market response to the Pre-IPO perpetual category: Binance said the inaugural SpaceX-linked contract recorded more than $280 million in cumulative trading volume within its first five days. “The momentum we saw in the first days of this category launch is a strong signal that users are looking for new ways to access major market narratives through crypto-native products,” said Shunyet Jan, Head of Spot and Derivatives Business at Binance. “Reaching more than $280 million in cumulative trading volume within five days of our first listing gives us confidence in both the appeal of Pre-IPO perpetuals and our broader strategy to evolve Binance into a financial super app. As we democratize access to a wider range of financial opportunities, that vision is clearly resonating with users.” How the OPENAIUSDT Pre-IPO Perpetual works Binance positions Pre-IPO perpetuals as instruments designed to give eligible users exposure to market expectations of private companies ahead of potential public listings. According to the company, these contracts are intended to reflect publicly available pricing signals before an IPO — including announced price ranges and final offering prices — and will transition to reflect live market performance once the underlying company begins trading on public exchanges. Contract: OPENAIUSDT Pre-IPO Perpetual — the second Pre-IPO futures contract listed on Binance. Settlement and margining: margined and settled in USDT. Early traction: more than $280 million in cumulative trading volume across the Pre-IPO perpetual category within five days of the first listing (SpaceX-linked contract). Operational safeguards: Binance says it will provide advance notice of delisting and settle contracts according to a transparent process if an IPO is postponed or canceled, and may transition contracts into a standard TradFi perpetual framework when a stable mark price can be derived. Context and risk warnings Binance framed the product as broadening access to a form of price discovery that historically has been concentrated among institutional and private market participants. The exchange highlighted that OpenAI is "among the most prominent private companies in the world" and that global attention around artificial intelligence is intensifying interest in market narratives tied to AI-focused firms. The company’s public materials reiterate significant investor warnings: Pre-IPO perpetuals can be highly volatile, do not represent ownership of underlying shares, are not affiliated with the issuers, and may require rapid margin deposits. Binance also noted there is no guarantee that an IPO will proceed and that price behavior immediately after an official listing can be especially unpredictable. Outlook Binance said the early trading figures provide confidence in the product’s appeal and in its strategic goal to evolve into a broader financial platform. The launch of OPENAIUSDT adds to Binance’s suite of derivative offerings as the exchange seeks to channel user demand for crypto-native ways to engage with major market events. For media queries, the company cited Adfactors PR at binance@adfactorspr.com and pointed users to its Responsible Trading page and contract documentation for full specifications and risk disclosures. --- ## How Saudi Arabia plans to turn AI into an economic growth engine URL: https://startupsmena.com/how-saudi-arabia-plans-to-turn-ai-into-an-economic-growth-engine-arab-news-mpna10az Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** Earlier in 2026, Humain invested $3 billion in Elon Musk’s xAI shortly before the startup merged with SpaceX. It also agreed on a financing framework worth up to $1.2 billion with Saudi Arabia’s Natio Saudi Arabia is mobilising public and private capital, talent and infrastructure to make artificial intelligence a pillar of economic growth after the cabinet declared 2026 the Year of AI in March. Central to that effort is Humain, an AI company launched in 2025 that has taken high-profile steps this year — including a $3 billion investment in Elon Musk ’s xAI earlier in 2026 shortly before xAI merged with SpaceX, and a financing framework worth up to $1.2 billion with the National Infrastructure Fund to expand AI and digital infrastructure across the Kingdom. “At its core sits Humain, emerging as the national AI powerhouse across infrastructure, applications, and sector enablement. Humain has the potential to function as the execution engine of AI deployment, providing the compute backbone, platforms, and solutions that translate strategy into real‑world impact,” said Raymond Khoury, partner and public sector practice lead at Arthur D. Little Middle East. Context and detailed drivers Experts interviewed by Arab News point to a coordinated strategy that pairs policy frameworks — notably the National Strategy for Data and AI and steps under Vision 2030 — with targeted investments and talent development. Ahmad Issa, regional vice president for Saudi Arabia at Cloudera, said the Year of AI designation will sharpen national priorities around data governance, digital infrastructure and innovation. “In the coming years, this designation is expected to drive tangible advancements across infrastructure, investment, and adoption. Organizations will increase investments in AI‑ready data platforms, cloud environments, and advanced computing capabilities to support large‑scale use cases,” Issa said. Cloudera’s 2026 data‑readiness survey cited in the report showed all surveyed Saudi IT leaders say they are ready to adopt new data governance frameworks, and 79 percent expressed a strong willingness to transform their operations — indicating corporate appetite for rapid adoption. Academics and industry leaders identify where AI is likely to deliver the most measurable value. “Government services are where results are already visible,” said Jason D. Schloetzer, associate professor at the McDonough School of Business, while noting energy, smart cities and healthcare will also be transformed. The report highlights Saudi Aramco’s use of AI for predictive maintenance and drilling optimisation as an example of how AI complements the Kingdom’s core revenue sectors. Government services: document intelligence, automated citizen services and fraud detection Energy: predictive maintenance and drilling optimisation at companies such as Saudi Aramco Smart cities: NEOM as a testbed for autonomous transport and predictive energy management Healthcare: clinical decision support, imaging triage and remote monitoring Industry voices underline broader sectoral use cases. Firas Al‑Beirut of Milestone Systems highlighted optimisation of large infrastructure projects and transportation, while Ahmad Abu Hantash of PwC Middle East pointed to financial services, tourism and media applying AI to customer engagement and fraud prevention. Outlook Analysts say the immediate priorities are scaling compute and data platforms, expanding AI talent and translating pilot projects into measurable outcomes. Khoury argued that “2026 can be more than a symbolic milestone. It can be the year Saudi Arabia made AI real — at scale, with measurable impact, and with momentum that endures well beyond a single declaration.” On the talent front, Anil Singh of TASC Outsourcing urged earlier and closer alignment between universities and industry: “AI and digital learning should be introduced early, and universities should work more closely with industry, so graduates are ready for real jobs and challenges,” he said, stressing the need for reskilling programmes to move existing workers into AI roles as adoption expands across sectors. --- ## Call for Applications: Cultural Association and Bands Subsidies Programme (UAE) URL: https://startupsmena.com/call-for-applications-cultural-association-and-bands-subsidies-programme-uae-fundsforngos-mpn4lz2o Date: 2026-05-26 Category: funding Tags: uae, funding, culture, arts, government-program **Summary:** The UAE Ministry of Culture opened applications for the Cultural Association and Bands Subsidies Programme, offering operating subsidies up to AED 100,000 and project grants up to AED 300,000 to officially registered cultural associations and bands. Deadline for submissions is 31-May-2026. The Ministry of Culture‑UAE has opened applications for the Cultural Association and Bands Subsidies Programme, a national funding initiative that offers operating subsidies up to AED 100,000 and project grants up to AED 300,000 to officially registered cultural associations and bands. Deadline for submissions is 31‑May‑2026. The programme is designed to improve financial sustainability, strengthen cultural capacity and expand the public impact of cultural activities across the United Arab Emirates. "The Cultural Association and Bands Subsidies Programme is a UAE funding initiative that supports registered cultural associations and bands through operating subsidies and project-based grants," the announcement states, underscoring the dual focus on day‑to‑day stability and project‑based cultural programming. Context and application details The programme funds two types of support: an operating subsidy intended to partially cover an association’s operational deficit (capped at AED 100,000 and based on audited financial statements), and project grants for cultural programmes and activities (up to AED 300,000, assessed on scope, proposal quality and feasibility). Final grant amounts are determined through an official evaluation process. Eligibility is limited to organisations that are officially registered in the UAE, meet the required minimum establishment duration and comply with administrative and regulatory requirements. Project grant applicants must additionally demonstrate a minimum operational history, readiness to implement proposed activities and alignment with the programme’s cultural objectives. Applications are evaluated on planning quality, added value and societal contribution—criteria the funder highlights as central to selection. The source guidance advises that the most competitive proposals combine a realistic project plan, feasible implementation steps, a clear operating or financial need where relevant, defined human resources and responsibilities, clearly identified target groups and a credible cultural or community impact. How to prepare — required documents and common mistakes Required documents: audited financial statements, governance records, activity plans and other required administrative documents. Choose the right funding type: operating subsidy (for deficits) or project grant (for clearly defined cultural activities). Common mistakes to avoid: incomplete financial or governance documentation; proposals without implementation timelines and responsibilities; focusing solely on artistic intent without explaining community impact; and applying for the wrong funding type. The guidance also stresses demonstrating feasibility — who will deliver the project, how it will be managed and what resources are already in place — and explaining how the activity supports cultural identity, education, community engagement, innovation or national cultural priorities. Outlook By creating a transparent allocation mechanism and clear evaluation criteria, the Cultural Association and Bands Subsidies Programme aims to strengthen organisational capacity and professionalise cultural programming across the UAE. Organisations that meet the documentation and eligibility requirements and can present measurable community benefits are positioned to benefit most. For further details, applicants are directed to the Ministry of Culture‑UAE. --- ## Paytm arm to invest €9 million in European subsidiary URL: https://startupsmena.com/paytm-arm-to-invest-9-million-in-european-subsidiary-mpmywh4q Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** He was previously the founding CEO of the Luxembourg House of Financial Technology (LHoFT), a fintech hub supporting startups in areas like blockchain, payments, and AI. Paytm has been expanding globa Paytm arm to inject €9 million into new Luxembourg unit to bankroll European push Paytm Cloud Technologies Limited (PCTL), a subsidiary of One 97 Communications, has approved an additional investment of €9 million in its wholly owned European payments arm, Paytm Europe Payments S.A, the company said in a regulatory filing. The subscription will be for 9 million equity shares of €1 each and is intended to increase the paid-up capital of Paytm Europe and fund its initial operations. The transaction is expected to be completed by June 30, 2026. "The Board of Directors of PCTL (Paytm Cloud Technologies Limited)...has approved an additional investment by way of subscription to 9 million equity shares of EUR 1 (one euro only) each at a total consideration of EUR 9 million (nine million euro), in its wholly-owned subsidiary, Paytm Europe Payments S.A (Paytm Europe)," the company said in a filing. Context and operational details Paytm Europe, incorporated in Luxembourg on January 12, 2026, has not started operations yet. PCTL currently owns 100% of the entity and will retain full ownership after the capital increase. Management recently named Nasir Zubairi to lead the European business; Zubairi was previously the founding CEO of the Luxembourg House of Financial Technology (LHoFT), a fintech hub that supports startups across blockchain, payments and artificial intelligence. The €9 million capital injection is aimed at covering set-up costs and early-stage operational expenses as Paytm prepares to establish a foothold in the European payments market. The move forms part of a broader international expansion by the Paytm group, which has been pursuing opportunities in the UAE, Singapore and Saudi Arabia, and is exploring entry into Indonesia. Separately, PCTL has taken a 25% stake in Brazilian embedded finance startup Dinie. Entity: Paytm Europe Payments S.A (Luxembourg), incorporated January 12, 2026 Investor: Paytm Cloud Technologies Limited (PCTL), wholly owned by One 97 Communications Investment: Subscription to 9 million equity shares of €1 each — total €9 million Expected completion: June 30, 2026 Other moves: 25% stake in Dinie; plans to enter Indonesia; expansion in UAE, Singapore, Saudi Arabia Outlook The funding round provides Paytm Europe with a runway to hire, obtain regulatory approvals and build payment infrastructure in a competitive market. The appointment of Nasir Zubairi signals a strategy to leverage local fintech expertise in Luxembourg, a hub for cross-border financial services in the EU. Completion of the subscription by the end of June 2026 will mark a concrete step in Paytm's bid to translate its India-scale payments experience into international markets. The timing of the European push follows a strong financial turnaround at the group level: Paytm reported its first full-year profit in FY26, with net profit of ₹552 crore on revenues of ₹8,437 crore, reversing a FY25 loss of ₹663 crore. For Q4 FY26, Paytm recorded a consolidated profit of ₹183 crore versus a loss of ₹545 crore in the same quarter a year earlier, with operating revenue rising 18% year-on-year to ₹1,912 crore. That improved cash flow position may underpin further overseas investments as Paytm pursues growth beyond India. --- ## Alec gets $1.7bn construction contract for Sphere Abu Dhabi URL: https://startupsmena.com/alec-gets-17bn-construction-contract-for-sphere-abu-dhabi-blooloop-mpmup8fs Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** The company will deliver "a globally ... Abu Dhabi as a world-leading centre for immersive entertainment and cultural experience", he added. The project encompasses the complete design, procurement an Abu Dhabi’s culture and tourism department has awarded a $1.7 billion construction contract for Sphere Abu Dhabi on Yas Island to Alec Engineering and Contracting, the company announced. The first Sphere venue outside the US is due to be completed by the end of 2029 and will stand on a plot between Yas Mall and SeaWorld Abu Dhabi. The venue will accommodate up to 20,000 people and is slated to host immersive experiences, concert residencies, sporting events and brand activations. Direct quote “Securing the construction contract is a profound endorsement of our capability as a homegrown UAE company,” Alec CEO Barry Lewis said. He added the company will deliver “a globally iconic venue that will attract millions of international visitors and establish Abu Dhabi as a world-leading centre for immersive entertainment and cultural experience.” Lewis also described Sphere Abu Dhabi as “a world-class venue that's rooted here, built here, and managed by a company committed to the emirate's long-term vision.” Project scope and technical details Alec said the project encompasses the complete design, procurement and construction of the new Sphere venue. The company’s statement outlined responsibilities including state-of-the-art immersive technology systems, advanced structural and mechanical engineering, bespoke manufacturing and installation, and integrated sustainable building systems. Contract value: $1.7 billion Completion target: end of 2029 Location: between Yas Mall and SeaWorld Abu Dhabi, Yas Island Capacity: up to 20,000 Sean McQue, managing director at Alec, highlighted the technical ambitions of the build. “The Sphere Abu Dhabi is both technically complex and architecturally ambitious,” McQue said. “It will demand precision at every level, from design integration and supply-chain orchestration to on-site execution and quality assurance.” The announcement positions the Abu Dhabi project as the next iteration of the Sphere concept first unveiled in Las Vegas in 2023. The original Sphere is noted in the company statement as the largest spherical structure in the world, featuring 580,000 square feet of LED lighting. It also introduced technologies Alec referenced as benchmarks: the world’s highest resolution LED screen, an advanced concert audio system, and atmospheric effects including wind and scent. Outlook Construction of Sphere Abu Dhabi is expected to sit at the centre of Yas Island’s cluster of theme parks and attractions, complementing nearby offerings and aiming to draw international visitors. Alec framed the contract as a milestone for UAE-based construction capability and an affirmation of the emirate’s ambitions in immersive entertainment. With delivery targeted for 2029, the project will require sustained coordination across design, manufacturing and installation phases to replicate and adapt the technically demanding systems showcased by the Las Vegas Sphere. --- ## Yolo Investments secures regulatory approval in Abu Dhabi for Fund III URL: https://startupsmena.com/yolo-investments-secures-regulatory-approval-in-abu-dhabi-for-fund-iii-mpmn43h9 Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** Yolo Investments received authorisation from the Financial Services Regulatory Authority of Abu Dhabi to manage a third investment fund. Yolo Investments has received authorisation from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market to manage its third private investment vehicle, Fund III. The fund is targeting $250 million and will primarily focus on Series A to C financing rounds, with a global mandate but a strategic emphasis on the Middle East and North Africa (MENA) region. The approval positions the firm to finalise offering documents and begin capital deployment following a first close. "This isn't about walking away from the past," Yolo said in a statement at the time of the shift. "It's about taking everything we've learned, everything we've pioneered, and applying it in environments where operators, regulators and players can work together, creating a stronger and more sustainable ecosystem for everyone." Context and regulatory rationale The decision to domicile Fund III in Abu Dhabi and operate under FSRA supervision was described by Yolo Investments as a deliberate response to institutional investors' preference for established legal frameworks rooted in English common law. Abu Dhabi Global Market is recognised as a financial free zone favoured by asset managers seeking access to Gulf capital, and FSRA authorisation increases the vehicle’s institutional appeal. Fund target: $250 million Investment stage: Series A–C Geographic mandate: Global, with strategic focus on MENA Sector focus: fintech, crypto and gaming Registering Fund III with the FSRA enables Yolo to finalise critical offering documents, including the limited partnership agreement and the private placement memorandum (PPM). The firm said it will commence capital deployment after the fund's first close. Yolo frames Fund III's investment thesis as "backing entrepreneurs who move money," continuing a strategy that intersects fintech, crypto and gaming verticals. The move follows a wider regulatory and commercial expansion by Yolo Group in the UAE. Late last year the group secured two gaming-related vendor licences from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA), permitting Yolo to supply iGaming content to the regulated market in the country. Yolo Founder Tim Heath commented on those licences: "obtaining these licences in the UAE is more than a regulatory achievement. It is a statement of intent. Yolo Group is committed to building the future of gaming on trust, transparency and world-class innovation." Performance track record and outlook Fund III builds on Yolo's prior flagship funds. The company reported that Fund II, as of 31 December 2025, had achieved a net internal rate of return (IRR) of 51.6% and a total value-to-paid-in (TVPI) multiple of 1.36x. Those metrics are cited as evidence of the firm's ability to generate returns across its target sectors. Details concerning Yolo Group’s leadership, individual limited partner commitments, portfolio size or target number of investments for Fund III were not disclosed. With FSRA authorisation secured, Yolo is now positioned to present final offering documents to potential investors and move toward initial closings that will allow deployment into its targeted Series A–C opportunities across fintech, crypto and regulated gaming markets. --- ## One part of Jain Global is up in the air as its deal with hedge fund giant Millennium moves ahead URL: https://startupsmena.com/one-part-of-jain-global-is-up-in-the-air-as-its-deal-with-hedge-fund-giant-millennium-moves-ahead-mpmi2lop Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** The manager was running roughly ... the Abu Dhabi Investment Authority and wealth platforms at banks like Goldman Sachs and UBS. Given Jain's tenure as chief investment officer at Millennium from 2016 Less than a month after Jain Global stunned the hedge fund world by agreeing to return outside capital and to invest exclusively for Izzy Englander’s Millennium, one material corner of the firm remains in flux: its fundamental equities unit. The multiservice manager — founded by Bobby Jain in 2024 with $5.3 billion and now operating six offices with more than 400 employees (about half investment professionals) — agreed in April to an exclusivity tie-up with the $87 billion hedge fund Millennium that is set to close in the third quarter. But sources close to Jain Global tell Business Insider the equities group, led by former Citadel portfolio manager Townie Wells, has struggled this year and faces an uncertain future. "The two firms declined to comment." Context and recent developments Jain Global negotiated the Millennium exclusivity agreement primarily with Millennium president Ajay Nagpal, according to a person familiar with the talks. The deal prevents Jain Global from raising external capital into its flagship multistrategy fund. At the time of the announcement Jain Global was running roughly $6 billion in external capital from backers including the Abu Dhabi Investment Authority and wealth platforms at banks such as Goldman Sachs and UBS. The firm’s fundamental equities unit has lost at least four portfolio managers so far in 2026: Michael Scheer (formerly of Citadel, who is joining Walleye), former Millennium PM Costas Constantinides, former D1 investor Evan Fiedler, and Niels Heilmann, who traded for Millennium portfolio company Elion Investments for more than a decade before joining Jain. Townie Wells’ position is described by multiple people close to the firm as “up in the air.” Jain Global is evaluating the overall group as it plans its next stage, and a final decision on Wells’ role has not been made. The announced Millennium relationship appears to have helped retain at least one senior member: Adam Wangner, Jain Global’s head of linear equities risk, was expected to depart but is now staying, according to a person close to the firm. Despite issues in the equities unit, back-office staff have been told they are guaranteed compensation through the end of 2026, and the bulk of Jain Global’s investing businesses continue to operate normally. Performance and cost pressures have been flagged internally: Jain has struggled to produce consistent net returns since launching, with fees consuming the majority of trading gains over its nearly two years of investing — a factor that likely helped drive the strategic pivot toward Millennium’s platform. Outlook As the exclusivity agreement moves toward a third-quarter close, Jain Global faces a balancing act: integrate with Millennium’s platform while deciding the fate of a core equities team that has endured departures and underperformance. Bobby Jain, who served as Millennium’s chief investment officer from 2016 to 2022, still plans to expand the firm’s roster — aiming to add 15 portfolio managers this year and already bringing in hires such as quant trader Yaming He from Two Sigma and Singapore-based stockpicker Alexander Han from Point72. For now, sources say the firm will retain its independence even as it narrows its ability to raise outside capital and repositions around the Millennium relationship. --- ## Middle East startups draw fresh investor interest URL: https://startupsmena.com/middle-east-startups-draw-fresh-investor-interest-mpmhavrk Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** The company said the money would ... in Saudi Arabia. UAE-based employment and payroll company RemotePass secured $17.4 million in Series B funding to support expansion in Europe and the United States Startups across the Middle East and North Africa continued to attract major investment this week, with fintech, proptech, employment services and sports technology firms among those securing fresh capital. Saudi fintech platform Arib raised $23.5 million in a round led by Merak Capital, UAE-based employment and payroll company RemotePass closed a $17.4 million Series B, and Jordan Capital and Investment Fund launched Manara Ventures, a $70.5 million fund to back technology startups and growth-stage companies. "The company said the money would be used to expand its digital financing marketplace and launch new products for consumers and businesses in Saudi Arabia," Context and deal details Arib — Raised $23.5 million in a Merak Capital-led round. The company plans to use the proceeds to expand its digital financing marketplace and to launch new consumer and business products in Saudi Arabia. RemotePass — Secured $17.4 million in Series B funding to support expansion in Europe and the United States. RemotePass currently manages payroll and workforce payments across more than 150 countries. Manara Ventures — Launched by Jordan Capital and Investment Fund with $70.5 million earmarked to support technology startups and growth-stage companies in Jordan and the wider region. EYST Technology — Tunisia’s insurance technology startup raised fresh investment to support international expansion (amount not disclosed in the report). PlayReplay — The Swedish sports technology company raised $12 million and announced plans to expand into Middle Eastern markets, including Saudi Arabia, the UAE, Qatar and Egypt. ARRW — The Egyptian ride‑hailing startup secured $4 million to expand its transport services and to improve its technology platform. eVoost AI — UAE-based proptech startup raised $2.2 million for product development and global growth. Peekabox — The surplus food marketplace secured $1.5 million to expand across Gulf markets. These transactions highlight a range of investor interest across sectors: Arib and RemotePass represent large rounds in fintech and payroll services, while PlayReplay and ARRW reflect cross-border interest in sports tech and mobility. Manara Ventures’ $70.5 million fund marks a notable institutional commitment within Jordan to provide follow‑on capital for scaling technology businesses. Industry participants and observers cited in the report noted sustained appetite for startups focused on digital payments, artificial intelligence, logistics and financial technology. Several of the deals announced this week explicitly target expansion outside home markets — RemotePass toward Europe and the United States, PlayReplay into multiple Middle Eastern countries, and a number of startups pursuing Gulf-wide rollouts. Looking ahead, the mix of venture rounds and the launch of a regional fund suggests investors remain active across early and growth stages. For companies such as Arib and RemotePass, the new capital provides runway to roll out product offerings and enter strategic markets; for regionally focused vehicles like Manara Ventures, the fund is positioned to increase available growth capital for technology firms across Jordan and neighbouring markets. --- ## Crucifer Investments leads $260,000 round in India's Owners ID URL: https://startupsmena.com/crucifer-investments-leads-260000-round-in-indias-owners-id-mpm48nhx Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** UAE-based Crucifer Investments leads a $260,000 pre-seed round in Indian startup Owners ID, which develops tech solutions for recovering lost property using QR codes. Owners ID, founded in Bangalore i UAE-based Crucifer Investments has led a $260,000 pre-seed investment round in Indian startup Owners ID, the company announced on 20 May, 2026. Founded in Bangalore in November 2022, Owners ID develops QR code‑based technology for recovering lost property and intends to use the funding to accelerate product development, scale manufacturing and expand internationally. "the new funding will help develop its products and technologies, increase manufacturing capacity, update its mobile app, develop AI-based item recovery systems, strengthen its brand, and expand into global markets," Owners ID said in a statement announcing the round. How Owners ID's technology works Owners ID offers a privacy‑preserving system for retrieving lost belongings using simple QR codes. The startup emphasises that its solution does not require bystanders to download an app, and its tags and codes function without batteries or expensive devices. The platform is designed to reunite owners with lost items without exposing personal user data such as phone numbers or addresses. Use cases listed by Owners ID include bags, keys, wallets, passports and documents. The company also targets electronic devices, pet tags and health IDs as applications for its QR code tags. Owners ID is developing AI‑based item recovery systems as part of its product roadmap. The pre-seed round led by Crucifer Investments totals $260,000, providing the Bangalore startup with capital to enhance its mobile app and expand manufacturing capacity for physical tags and labels. Owners ID has positioned its product for everyday use, addressing what it describes as a market where "millions of items are lost annually." By avoiding the need for additional hardware or complex setup, Owners ID aims to lower friction for finders and owners alike. The company's approach—simple QR codes linked to secure identity data—intends to strike a balance between accessibility and privacy, so that recovered items can be returned without exposing sensitive contact information. The funding will also support Owners ID's longer‑term ambitions beyond item recovery. The company has signalled plans to broaden into smart identity and digital safety solutions for individuals and property, and to pursue growth in international markets. Crucifer Investments' lead in the pre-seed round adds to a growing flow of Gulf capital into early‑stage tech ventures across South Asia. For Owners ID, the infusion of $260,000 is targeted at product refinement, scaling production, and the development of AI capabilities intended to improve recovery rates and automate matching between found items and owners. With the new capital and a roadmap that combines physical tags, mobile tooling and AI, Owners ID is positioning itself to tackle the routine problem of lost belongings while expanding into adjacent identity and safety solutions. --- ## Alec Holdings Secures $1.7 Billion Deal for Sphere Abu Dhabi Construction URL: https://startupsmena.com/alec-holdings-secures-17-billion-deal-for-sphere-abu-dhabi-construction-news-and-statistics-indexbox-mplycrqf Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** The 20,000-capacity Sphere Abu ... SeaWorld Abu Dhabi and Yas Mall. It will host three categories of events: Sphere Experiences, which are proprietary immersive productions featuring multisensory stor Lead Construction and engineering firm Alec Holdings has won a $1.7 billion contract to design, procure and build the 20,000-capacity Sphere Abu Dhabi on Yas Island, a project scheduled to open in 2029, according to a report in The National dated May 23, 2026. The venue will be sited between SeaWorld Abu Dhabi and Yas Mall and is being developed in collaboration with US-based Sphere Entertainment, the company behind Sphere Vegas. Direct quote "The project is both technically complex and architecturally ambitious, requiring precision across design integration, supply‑chain coordination, on‑site execution, and quality assurance," said Sean McQue, managing director of Alec Construction. "The infrastructure would set a global benchmark." Context and details Alec Holdings chief executive Barry Lewis framed the award as a demonstration of domestic capability, saying the contract "highlights the capabilities of UAE developers, which have contributed to building tourism hotspots, residential areas, and commercial spaces." He added that the award "demonstrates that world‑class infrastructure delivery does not rely on international contractors," describing the venue as "rooted in and built for the emirate's long‑term vision." The Sphere Abu Dhabi will replicate the multi‑format programming model of Sphere Vegas, which opened in 2023 and is known for its 16K‑resolution wraparound screen. Sphere Vegas has hosted immersive concerts by U2, the Eagles and the Backstreet Boys. Abu Dhabi's venue will stage three categories of events: Sphere Experiences — proprietary immersive productions featuring multisensory storytelling; Concert residencies; Brand events, including combat sports, conferences and product launches. Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism – Abu Dhabi, told The National that Yas Island was selected because of its "existing infrastructure and range of experiences." The department is partnering with Sphere Entertainment on delivery and programming. The Sphere will join a cluster of attractions on Yas Island. Developers and planners are positioning the site alongside existing and planned leisure assets, including: SeaWorld Abu Dhabi Yas Mall Ferrari World Abu Dhabi Yas Waterworld Yas Marina Circuit — home of the annual Abu Dhabi F1 Grand Prix Planned additions such as Disney Abu Dhabi and a Harry Potter‑themed land as part of an expansion to Warner Bros World Abu Dhabi Outlook With an expected 2029 opening, Alec Holdings and its partners say the Sphere Abu Dhabi aims to set a new standard for immersive live entertainment in the region. The project's scale and placement on Yas Island — a hub for high‑profile events including the F1 Grand Prix — position the venue to attract international residencies and large‑scale brand activations. As Alec and UAE authorities move into detailed design and procurement phases, the contest between local delivery capacity and global specialist contractors will remain a focal point of industry attention. --- ## Most Innovative Brokers MENA 2026: Features Overview URL: https://startupsmena.com/most-innovative-brokers-mena-2026-features-overview-mplvs1m2 Date: 2026-05-26 Category: tech Tags: mena, startup **Summary:** Detailed overview of technological innovation in the MENA brokerage sector for 2026. Evaluating the platforms of OneRoyal, Equiti Group, and ADSS. On 25 May 2026 Finance Magnates published a feature evaluating technological innovation among MENA brokers, singling out OneRoyal, Equiti Group and ADSS as the region’s leading execution innovators. The piece frames a wider market shift: heavy Gulf regulatory enforcement is phasing out standard white label operations and forcing brokers to deliver native technological infrastructure — from hosting servers physically inside Dubai or Abu Dhabi to mathematically encoded Islamic (swap‑free) trading models and direct prime liquidity integration. "Trading Contracts for Difference carries a high risk to your capital. You can lose more than your initial deposit. Make sure you fully understand the mechanics of margin trading and the risks before you open a live account." Context and technical framework Finance Magnates evaluated the three firms against a Gulf‑specific framework: regulatory compliance with tier‑one Arab regulators (SCA, CMA, JSC), institutional pipeline architecture (raw FIX API and colocated servers) and ecosystem localization (Arabic charting, halal execution). The publication’s quick technical overview lists platform and execution characteristics, minimum deposits and a one‑line differentiator for each broker that highlights divergent approaches to serving MENA liquidity demand. OneRoyal — Regulatory coverage includes ASIC, CySEC and VFSC. Platforms: MT4, MT5 and Multi Asset Web. Execution model listed as "True ECN / STP." Minimum deposit: $50. Key features highlighted: swap‑free Islamic accounts, AI‑powered trading tools, the MT4 Accelerator extension, Copy Trading and PAMM services, multi‑asset access (forex, commodities, indices, shares, crypto, ETFs) and structured capital separation via international auditing. Equiti Group — Regulation spans SCA (UAE), JSC (Jordan), FCA (UK) and CySEC. Platforms include MT4, MT5 and FIX API. Minimum deposit: $0. The firm is noted for the largest physical local footprint in the GCC, placing data servers adjacent to Gulf matching engines to minimize latency and offering institutional FIX connectivity for raw API execution. Equiti is also credited with "deep swap free engineering" designed to process halal‑compliant algorithmic volume without manual spread markups. ADSS — Regulated by SCA and FCA, ADSS offers its proprietary ADSS Platform along with MT4. Minimum deposit: $100. The broker is characterised in the overview as operating "Sovereign UAE backed liquidity networks," emphasising UAE‑anchored liquidity access and pricing options ranging from ECN to dealing‑desk models. Outlook The Finance Magnates analysis concludes that MENA brokerage innovation in 2026 is being driven by three concrete technical imperatives: native prime liquidity integration, colocated server infrastructure to slash latency, and structurally correct swap‑free account engineering that preserves algorithmic execution. OneRoyal, Equiti and ADSS each represent distinct blueprints — global prime aggregation and AI tooling, deep domestic GCC placement with FIX API access, and UAE‑centred sovereign liquidity respectively — that industry participants will watch as local regulatory pressure continues to reshape market infrastructure across the Gulf. --- ## ZAWYA: ICBA and Uzbekistan’s Agency for innovative development sign agreement URL: https://startupsmena.com/zawya-icba-and-uzbekistans-agency-for-innovative-development-sign-agreement-mplmjjlx Date: 2026-05-25 Category: other Tags: uzbekistan, uae, agriculture, agtech, accelerator, funding, icba, abu-dhabi-fund-for-development **Summary:** ICBA and Uzbekistan’s Agency for Innovative Development signed an agreement to launch a three‑month Farmers’ and Agro‑Entrepreneurs Accelerator in Nukus, Karakalpakstan, targeting 200 beneficiaries with emphasis on women and youth. The programme, supported by the Abu Dhabi Fund for Development, aims to build technical, post‑harvest and business capacity to commercialise climate‑resilient crops and develop value chains. The International Center for Biosaline Agriculture (ICBA) and Uzbekistan’s Agency for Innovative Development have signed a collaboration agreement to launch the “Farmers’ and Agro-Entrepreneurs Accelerator for Developing and Commercializing Crop Value Chains” in Nukus, Karakalpakstan. The agreement was signed by Dr. Tarifa Alzaabi, Director General of ICBA, and Dr. Asror Norov, Acting Director of the Agency for Innovative Development. The three‑month programme, supported by the Abu Dhabi Fund for Development under the project “Development of Sustainable Agricultural Production Systems in Degraded Areas of Karakalpakstan,” aims to reach 200 beneficiaries from Karakalpakstan with a particular focus on women and youth. “This agreement reflects an advanced stage of our work in Karakalpakstan, as we move from supporting sustainable agricultural production to enabling farmers and agro-entrepreneurs to build practical pathways for value chain development and market access,” Dr. Tarifa Alzaabi said. “Through this program, we aim to equip beneficiaries with the technical and business knowledge and skills needed to turn climate-resilient crops into scalable economic opportunities.” Program scope and objectives The accelerator represents a shift from purely production-focused interventions to a value-chain and market-orientation intended to improve commercial readiness among smallholders and agro-entrepreneurs in the Aral Sea region. ICBA and the Agency for Innovative Development say the programme will deliver an integrated support model combining technical, post-harvest and business elements to help participants add economic value to climate‑resilient crops and access wider markets. Duration: three months Target reach: 200 beneficiaries from Karakalpakstan, prioritising women and youth Support partners: Abu Dhabi Fund for Development (under the Karakalpakstan sustainable agriculture project) Core components: technical training, post‑harvest management, agro‑processing, branding, business planning and market access Dr. Asror Norov underscored the regional importance of the collaboration, saying: “For the Aral Sea region, this cooperation is important because it links innovation with practical agricultural transformation. Through ICBA’s scientific expertise and international experience in biosaline agriculture, the program will support the modernization of crop value chains in Karakalpakstan, from cultivation and production to processing and market delivery. It will also help create a structured training and acceleration platform for farmers, young specialists, and agri-entrepreneurs, supporting the wider application of green innovations in the region.” Context and implementation The accelerator will be implemented as part of the Abu Dhabi Fund for Development’s project to develop sustainable agricultural production systems in degraded areas of Karakalpakstan. ICBA, established by the Government of the United Arab Emirates and the Islamic Development Bank, positions the programme within its broader mandate to advance resilient agriculture in saline and arid environments by integrating soil, water, crop and climate expertise. By combining technical know‑how with business incubation and market linkages, the initiative aims to move beneficiaries beyond subsistence or low-margin production toward scalable enterprises. The emphasis on women and youth participation is intended to broaden economic inclusion while strengthening rural resilience in a region confronting environmental degradation and economic challenges. Outlook Over the three-month cycle, organisers expect the accelerator to build practical capacity for 200 participants and to pilot models for value‑chain development that can be scaled or adapted across Uzbekistan. If successful, the programme could serve as a template for linking biosaline and climate‑resilient crop research to commercialization pathways and broader rural economic recovery efforts in the Aral Sea basin and similar environments. --- ## Dubai Entrepreneur Satish Sanpal Brings Luxury and Glamour to Netflix’s Desi Bling URL: https://startupsmena.com/dubai-entrepreneur-satish-sanpal-brings-luxury-and-glamour-to-netflixs-desi-bling-mplfu4az Date: 2026-05-25 Category: tech Tags: mena, startup **Summary:** Satish Sanpal expands ANAX Holding’s global influence while starring in Netflix reality series Desi Bling. Dubai entrepreneur Satish Sanpal expands ANAX Holding profile while starring on Netflix’s Desi Bling Satish Sanpal, the Founder and Chairperson of ANAX Holding, is broadening his public profile by starring in Netflix’s reality series Desi Bling while simultaneously steering ANAX’s growth across real estate, hospitality and strategic investments. Mid-Day reported on 22 May, 2026 that under Sanpal’s leadership ANAX Developments recently launched ELLE Residences Dubai Islands, marking "the Middle East debut of the globally iconic ELLE residential brand" and reinforcing his footprint in luxury branded residences. "Sanpal continues to reinforce his position as one of Dubai’s most influential Indian entrepreneurs," Mid-Day wrote, noting the combination of high-profile media exposure and headline real estate activity. The Mid-Day profile describes Sanpal as having "unwavering confidence in the UAE’s economic fundamentals," even amid what the piece calls global geopolitical uncertainty. That confidence, the article adds, is reflected in a leadership approach "rooted in discipline, market intelligence, and sustainable expansion," positioning ANAX Holding as a diversified powerhouse in Dubai’s luxury and investment landscape. From a business perspective, the ELLE Residences Dubai Islands launch is the clearest recent example of ANAX’s strategy to marry international lifestyle brands with Dubai real estate product. The project represents the Middle East debut for the ELLE residential label and serves as a signal of ANAX Developments’ ambitions to deliver branded luxury living experiences in the emirate. Name: Satish Sanpal Title: Founder and Chairperson, ANAX Holding Recent corporate milestone: Launch of ELLE Residences Dubai Islands (ELLE’s Middle East debut) Media visibility: Cast member on Netflix reality series Desi Bling Business focus: Real estate, hospitality and strategic investments Mid-Day’s coverage traces Sanpal’s arc from arriving in Dubai "with modest investments and ambitious aspirations" to becoming a recognised voice in the city’s luxury sector. The article credits him with leading landmark developments that have "redefined branded residences in the region," a category that has attracted international capital and lifestyle partners to the UAE in recent years. Sanpal’s simultaneous engagement with mainstream media through Desi Bling and high-end property launches suggests a two-pronged approach to reputation-building: raise consumer-facing brand awareness via entertainment platforms while consolidating institutional credibility through marquee real estate projects. For ANAX Holding, the timing of the ELLE Residences debut alongside a Netflix appearance provides a visible shorthand for the company’s global ambitions. Looking ahead, the Mid-Day profile frames Sanpal’s trajectory as aligned with Dubai’s broader luxury-investment ecosystem, signalling that ANAX intends to continue leveraging branded partnerships and public visibility to expand its platform. With the ELLE project now launched and Desi Bling amplifying personal and corporate recognition, ANAX Holding appears positioned to pursue further branded-residence opportunities and strategic investments in the region. --- ## MENA startups secure fresh funding across key sectors URL: https://startupsmena.com/mena-startups-secure-fresh-funding-across-key-sectors-muslim-network-tv-mplcrpkx Date: 2026-05-25 Category: tech Tags: mena, startup **Summary:** May 25, 2026Gaziantep turns cuisine ... 2026MENA startups secure fresh funding across key sectors May 24, 2026Syria seeks reforms in vocational education system · Muslim WorldLatestMuslim Network News Startups across the Middle East and North Africa have attracted a fresh wave of capital this month, with deals spanning fintech, employment technology, proptech, insurtech, sports tech and mobility. Highlights reported by Muslim Network TV include Saudi digital financing marketplace Arib raising $23.5 million in a round led by Merak Capital; UAE-based workforce platform RemotePass securing $17.4 million in Series B funding led by EBRD Venture Capital; and the launch of Manara Ventures, a $70.5 million Shariah-compliant growth fund by the Jordan Capital and Investment Fund. Direct quote "The company said the capital will support technology upgrades, product expansion and new lending solutions," the Arib announcement said, outlining the intended use of its $23.5 million raise. Context and deal details Arib (Saudi Arabia) — Founded in 2018, the digital financing marketplace connects users with banks and licensed lenders to compare and apply for financing through a single digital interface. Its $23.5 million round combines equity and Shariah-compliant Murabaha financing and was led by Merak Capital. RemotePass (UAE) — The workforce platform, which manages payroll and contractor payments across more than 150 countries, raised $17.4 million in a Series B round led by EBRD Venture Capital. The company said it will expand into Europe and the United States and invest in AI-driven compliance and automation tools. Manara Ventures (Jordan) — The Jordan Capital and Investment Fund launched a $70.5 million Shariah-compliant growth fund targeting more than 20 technology startups. The fund will write cheques ranging from $750,000 to $3 million and support regional expansion for high-growth companies. EYST Technology (Tunisia) — Secured a six-figure investment from 216 Capital to scale an insurtech platform that enables insurers to settle claims instantly through virtual bank cards; the funding will support product development and expansion into Europe, the Americas, Asia and the Middle East. PlayReplay (Sweden) — The sports tech firm closed $12 million and plans to expand into key MENA markets including Saudi Arabia, the UAE, Qatar and Egypt. PlayReplay develops AI-powered systems for racquet sports, including analytics and electronic line-calling technology. ARRW (Egypt) — Mobility startup ARRW raised $4 million from Tasheed Egypt to expand ride-hailing operations and strengthen its driver network and technical infrastructure. GrowthLabs (Egypt) — Acquired Startup Gate in a $657,000 deal intended to build a unified regional ecosystem platform by combining Startup Gate’s network with GrowthLabs’ Catalyst OS platform. eVoost AI (UAE) — The proptech firm secured $2.2 million to expand its AI-driven property sales platform across Europe, the Gulf region and the United States. Peekabox (UAE) — Raised $1.5 million in seed funding to scale a surplus food marketplace across the UAE and begin expansion into wider GCC markets, starting with Saudi Arabia. Outlook Investors and founders cited expansion and technology investment as primary drivers for the rounds. RemotePass signalled international expansion into Europe and the US and increased investment in AI compliance tools; Arib emphasised upgrades and new lending solutions; and Manara Ventures aims to accelerate multiple regional growth-stage companies with Shariah-compliant capital. Analysts quoted by Muslim Network TV said the continued flow of capital reflects sustained investor confidence in the region's digital economy. Reported by: SR. --- ## Morocco Holds Ground in Africa’s Tech Investment Race URL: https://startupsmena.com/morocco-holds-ground-in-africas-tech-investment-race-mpl47qa6 Date: 2026-05-25 Category: tech Tags: mena, startup **Summary:** South Africa followed with $715 million, ahead of Egypt with $604 million and Nigeria with $572 million. Together, these four countries captured nearly 72% of all tech funding raised across Africa, wh Morocco raised $80 million across 29 tech transactions in 2025, positioning the Kingdom as one of Africa’s more resilient secondary startup markets even as the continent’s leading hubs attracted the lion’s share of investment. According to IFC-sourced market data cited by Morocco World News, Kenya led the continent with $1.04 billion, followed by South Africa with $715 million, Egypt with $604 million and Nigeria with $572 million; together those four markets captured nearly 72% of all tech funding raised across Africa, while Morocco represented less than 2% of the continental total. "Morocco is continuing to strengthen its position in Africa’s technology investment landscape, showing resilience at a time when several emerging African markets are facing sharp declines in funding activity," the report said. Context and market details Analysts cited in the report view Morocco’s steady results as a sign of growing investor confidence in the Kingdom’s business climate and startup ecosystem, even as several peer markets contracted. The article notes that Ghana, for example, recorded a 59% decline in funding volumes in the same period, underscoring the uneven nature of capital flows across the continent. Morocco: $80 million across 29 transactions (2025) Kenya: $1.04 billion (2025) South Africa: $715 million (2025) Egypt: $604 million (2025) Nigeria: $572 million (2025) Beyond headline country figures, the Morocco World News piece highlights activity by Africa-focused investment firms that are continuing to mobilize capital for longer-term opportunities. One prominent example is Admaius Capital Partners, an independent African-owned private equity firm founded in 2021 and headquartered in Kigali. Admaius operates regional offices in Morocco, Egypt, Kenya, South Africa, Rwanda and Tunisia, and maintains a presence in London to bridge to international investors. Admaius has drawn particular attention for Africa Fund I, launched in 2022 with $280 million. The fund "has already invested in eight African companies," building a track record the firm hopes will help attract institutional investors to a new vehicle with a much larger target. IFC interest and fundraising outlook The International Finance Corporation (IFC), the World Bank Group’s private sector arm, said in an information note published May 8 that it is considering an investment of up to $25 million in the new fund, representing a maximum of 20% of the fund’s total commitments. An additional co-investment envelope of up to $10 million is also under consideration. "The proposed IFC investment is still awaiting formal approval from the organization’s board of directors," the report states. The IFC believes that backing from development finance institutions could help the fund reach its first closing and later mobilize private capital toward a final fundraising target of $500 million. The IFC added that success for the vehicle could improve access to equity financing for Africa’s mid-market companies and deepen competition in the continent’s private equity market. Market participants in Morocco and across North Africa will watch whether Admaius and similar funds can convert institutional interest into larger, locally-managed pools of capital. For Morocco, maintaining deal activity and modest funding levels in 2025 has provided a base from which to press for larger ticket sizes and greater share of regional flows as fund managers and development partners pursue mid-market opportunities across Africa. --- ## Riyadh Air Launches Premium Boeing 787-9 Dreamliner Flights to London Heathrow, Bypassing Seasonal Flight Cancellations, Terminal Airport Disruptions, and Connecting Travel Chaos: Latest Airline News and Aviation Updates URL: https://startupsmena.com/riyadh-air-launches-premium-boeing-787-9-dreamliner-flights-to-london-heathrow-bypassing-seasonal-fl-mpl44rce Date: 2026-05-25 Category: tech Tags: mena, startup **Summary:** Riyadh Air transitions to full ... flights between Riyadh King Khalid and London Heathrow Terminal 4 starting July 1, 2026. ... In a structural development that is set to reshape transcontinental wide Riyadh Air (RXA) will begin daily Boeing 787-9 Dreamliner passenger services between Riyadh King Khalid International Airport (RUH) and London Heathrow Terminal 4 on July 1, 2026, the carrier confirmed. Public bookings for the route opened on May 19, 2026, and the airline will operate a full widebody schedule targeting both corporate and leisure travelers with a premium cabin product. "By providing direct, state-of-the-art widebody connections, the new route aims to shield corporate and leisure passengers from seasonal flight cancellations, frustrating security-gate airport disruptions, and subsequent regional travel chaos that typically impacts congested transit hubs," the airline's announcement states. Route, schedule and operational readiness Riyadh Air has published a daily schedule between RUH and LHR that is designed to optimize connections at its Riyadh hub. The posted flights are: RX401: Departs Riyadh (RUH) daily at 02:35, arriving London Heathrow (LHR) at 07:30 local time. RX402: Departs London Heathrow (LHR) daily at 09:35, arriving Riyadh (RUH) at 18:05 local time. The Riyadh–London corridor moved through a technical preparation phase beginning October 26, 2025, during which "SAA and airport ground handlers utilized a technical spare aircraft to calibrate in-flight systems, test ground handling coordinates, and ensure total operational readiness," the carrier said. Cabin product and onboard technology Riyadh Air's Boeing 787-9 Dreamliner fleet is configured into four distinct cabins: Business Elite Business Class — 1-2-1 fully flat-bed layout with direct aisle access, integrated AC power, USB-A and USB-C ports, and headrest-based sound systems. Premium Economy — 2-3-2 layout with additional workspace, personal storage and privacy headrest wings. Economy — 3-3-3 widebody arrangement with ergonomic seating and adjustable headrests. The airline has equipped the fleet with Panasonic Avionics' Astrova entertainment platform, offering large-format personal displays, Bluetooth listening and mobile connectivity. Riyadh Air says the media catalog includes over 500 films, 600 TV series and 1,000 music albums through partnerships with Disney+, HBO Max, Warner Bros. and regional Shahid networks. The carrier will also launch a Sfeer loyalty platform with introductory rewards and selected free onboard Wi‑Fi connectivity for early members. Context and market positioning Riyadh Air frames the Heathrow launch as part of Saudi Arabia's broader Vision 2030 tourism and aviation agenda, which targets 150 million annual visitors by 2030. The carrier is deploying the Boeing 787-9 in this capital-to-capital market in part because of the model's operating economics: Boeing manufacturer data cited by the announcement notes the twin‑engine Dreamliner delivers roughly 20–25% better fuel efficiency versus older-generation aircraft. Outlook The direct daily widebody service to Terminal 4 at Heathrow positions Riyadh Air to compete on transcontinental comfort and connectivity while reducing reliance on congested transfer hubs. Travelers are advised to book via the airline's official digital channels, consider Sfeer enrolment for introductory benefits, and confirm Heathrow Terminal 4 logistics ahead of travel. The route launch will be closely watched by carriers and analysts as Riyadh Air expands its long‑haul network and seeks to establish Riyadh as a transit gateway between Europe, the Middle East, Africa and Asia. --- ## The 2026 guide to CFD trading platforms in the UAE URL: https://startupsmena.com/the-2026-guide-to-cfd-trading-platforms-in-the-uae-the-canberra-times-canberra-act-mpkqhwvh Date: 2026-05-25 Category: fintech Tags: uae, fintech, regulation, cfd-trading, dfsa **Summary:** A 2026 guide to CFD trading platforms in the UAE outlines tighter regulations across DFSA, SCA and ADGM/FSRA, highlights high retail loss rates, and describes a major audit that forced nearly $40 million in refunds. It advises prioritising locally regulated brokers, low leverage and careful verification of licences. The 2026 guide to Contracts for Difference (CFD) trading platforms in the UAE outlines a tightened regulatory landscape and stark loss statistics for retail traders. Regulators in the UAE operate a "Twin Peaks" model: the Dubai Financial Services Authority (DFSA) oversees firms in the Dubai International Financial Centre (DIFC), the Securities and Commodities Authority (SCA) regulates the federal onshore market and since 2025 has banned offshore entities from soliciting UAE residents without a local licence, and the Abu Dhabi Global Market (ADGM) is regulated by the Financial Services Regulatory Authority (FSRA). The guide highlights leverage math, platform costs and a major 2026 audit that forced nearly $40 million in refunds to retail traders. "Accessible trading is not the same as simple trading." CFDs are derivatives: traders do not buy underlying assets but enter a contract with a broker to exchange the price difference between contract open and close. Most retail CFD trades are conducted Over‑the‑Counter (OTC) with brokers acting as Market Makers, creating a direct counterparty relationship in which the broker’s profit can be linked to client losses. Leverage remains central to retail CFDs: at 30:1 leverage—a common cap on major currency pairs—a $1,000 deposit controls a $30,000 position, meaning a 2 per cent market move can become a 60 per cent gain or, conversely, a 60 per cent loss of the initial capital. Regulatory checks and recent enforcement DFSA (DIFC): strict capital adequacy rules and client money segregation; negative balance protection is standard under DFSA rules. SCA (onshore): since 2025 has tightened rules on offshore brokers and made solicitation without a local licence illegal. ADGM (FSRA): known for advanced oversight of digital assets and derivatives. Verification: the guide advises traders to check Financial Services Registers on DFSA or SCA sites and ensure registration numbers match the legal entity on client agreements—not just the public brand name. Licences referenced in the guide include a Category 3A licence from the DFSA (DIFC), a Category 1 licence from the CMA (Mainland UAE) and FSRA authorisation for ADGM firms. Costs are often embedded rather than transparent: spreads are the immediate entry cost, swap rates (overnight financing) apply because leverage functions as a loan, and inactivity fees commonly range from $10–$50 per month for 3–6 months of dormancy. Regulators in 2026 have pushed for clearer swap disclosure and calculators after a global audit (Report 828) exposed brokers using deceptive "margin discounts" to bypass leverage caps, prompting nearly $40 million in forced refunds. Data remain stark: "74-89 per cent of retail investor accounts lose money." Other risks cited include margin calls, market gapping where a stop‑loss may be filled at a worse price, and the psychological "Demo‑to‑Live" gap where practice accounts fail to replicate emotional pressure of real risk. Outlook: the guide recommends prioritising DFSA or SCA‑regulated brokers, using low leverage such as 2:1 or 5:1 while learning, and treating high loss statistics as a realistic baseline. It closes with the standard risk warning: "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage." This content is described as informational only and is not financial advice. --- ## Planning to buy property in Dubai? What do new investor visa rules mean for homebuyers? URL: https://startupsmena.com/planning-to-buy-property-in-dubai-what-do-new-investor-visa-rules-mean-for-homebuyers-businesstoday-mpkmxtj1 Date: 2026-05-25 Category: tech Tags: mena, startup **Summary:** Dubai has eased its property-linked residency rules by removing the minimum property value requirement for sole owners applying for a two-year investor visa. The move is expected to widen foreign inve Dubai has relaxed property-linked residency rules by removing the minimum property value requirement for sole owners applying for the two-year real estate investor visa, the Dubai Land Department (DLD) announced via its Cube platform. Under the revised guidelines published May 23, 2026, sole owners no longer need to hold assets worth at least Dh750,000 (around Rs 1.93 crore) to qualify for the visa. Jointly owned properties retain a minimum threshold, with each investor required to hold a share of at least Dh400,000 (around Rs 1.03 crore); equally split ownership structures continue to require each co-owner to meet that individual minimum. The change is intended to widen foreign investor participation and bolster the emirate’s long-term real estate appeal. Direct quote “Dubai’s latest visa reform represents a calibrated response to both external volatility and evolving investor behaviour,” said Vishal Raheja, Founder and Managing Director of InvestoXpert Advisors. “The recent West Asia conflict has triggered a temporary sentiment shock, resulting in slower bookings and a roller coaster ride in buyer confidence, particularly among high-net-worth individuals who are now more selective and actively scouting for value buys.” Context and details The updated rules, issued through DLD’s Cube platform, effectively removes the Dh750,000 floor for sole owners while maintaining the Dh400,000-per-investor threshold for co-owners. Industry sources cited in the announcement say the shift is part of a broader attempt to improve regulatory flexibility and attract a larger pool of international buyers. Analysts note Indian investors could be notably affected: industry estimates put Indian buyers at roughly 22% of Dubai property transactions in 2025. Market commentators point to rental yields of 6–9% as a supporting factor for sustained investor interest. Ashish Narain Agarwal, Founder and Managing Director of PropertyPistol, called the move “a structural move aimed at expanding the long-term investor base rather than driving immediate demand,” adding that it is likely to support stable capital inflows despite short-term geopolitical caution. Practical visa application requirements remain unchanged. Applicants must submit standard documentation, and mortgaged purchases carry additional paperwork. DLD’s guidance lists the primary documents required for a two‑year investor visa: Property title deed Passport copy Emirates ID Medical insurance Certificate of good conduct from Dubai Police Additional bank and payment-related documentation for mortgaged properties Dubai first introduced the revised visa system in 2019 to enable foreigners to live, work and invest in the emirate without a local sponsor. The latest adjustment refines the property-linked strand of that regime amid what industry insiders describe as a recalibration to reflect current buyer behaviour and market conditions. Outlook Industry experts say the policy could broaden the “addressable market” for developers and revitalise secondary and affordable segments by lowering the entry barrier for individual buyers. Raheja suggested the change may help convert tenants into long-term residents, while Agarwal emphasised the structural nature of the shift: “The push to convert renters into homeowners reflects a clear shift towards sustainable demand.” While analysts warn that geopolitical uncertainty could keep near-term bookings cautious, the combination of easier access and attractive rental yields is expected to sustain investor interest and encourage a steadier flow of capital into Dubai’s property market over the medium term. --- ## MENA Startup Funding Rebounds in April 2026, Morocco Loses Momentum URL: https://startupsmena.com/mena-startup-funding-rebounds-in-april-2026-morocco-loses-momentum-mpkim92w Date: 2026-05-25 Category: funding Tags: uae, saudi-arabia, egypt, fintech, debt-financing **Summary:** MENA startup funding rebounded in April 2026 to $150M across 27 deals, led by the UAE which raised $78M; debt financing accounted for $80M across two deals, while Morocco slipped to $1.7M from one transaction. Startup investment across the Middle East and North Africa (MENA) rebounded in April 2026, with total funding reaching $150 million across 27 transactions — a 211% month‑on‑month increase — according to Wamda data cited by Zayneb Elasraoui in Morocco World News on May 24, 2026. The recovery was uneven: nearly half of April’s capital came via debt financing ($80 million across two deals), and Morocco slipped from a brief March spotlight to seventh place after raising just $1.7 million through a single transaction. "The UAE once again confirmed its position as the region’s dominant startup hub, attracting $78 million through eight transactions, representing more than half of the region’s total funding for the month," Elasraoui wrote, highlighting the concentration of capital in established ecosystems. Context and key figures The April rebound, while strong in headline terms, reflected a cautious investor stance. The prominence of debt — $80 million across two deals — underlined a shift toward safer, more structured financing. The month’s regional ranking and sectoral breakdown show where capital was being directed: Country funding (April 2026): UAE $78 million (8 deals); Saudi Arabia $26.2 million (7 deals); Egypt secured "a similar amount" through five deals; Oman $11 million (2 deals); Jordan $4 million (1 deal); Bahrain $3 million; Morocco $1.7 million (1 deal). Sector funding: Fintech led with $89.4 million across seven deals; e‑commerce $19.3 million (4 deals); online services $15 million; food technology $13 million. By business model: B2B startups raised $95.8 million across 11 deals, while B2C companies secured $35.8 million across 12 transactions. Founding team composition: Male‑founded startups captured $138.8 million (19 deals); mixed‑gender teams $10 million; female‑led startups returned after two months of absence with $1.5 million across five deals. Despite the monthly uptick, the broader picture remains challenging: regional startup funding was down 42% year‑on‑year, and the first quarter of 2026 closed with a 37% annual decline, the article notes. Analysts referenced by the piece suggested investors are favouring businesses "capable of generating stable and predictable returns" rather than backing aggressive expansion plays. Outlook Elasraoui characterises the market as moving from "wait and see" to a "deploy carefully" stance, with capital available but targeted toward defensive, scalable and institutionally aligned sectors. For Morocco, the April results are both a setback and a signal: the country must convert early momentum into sustained, structured opportunities to attract international capital at scale. The article suggests strengthening governance, innovation financing and international visibility — including leveraging events such as GITEX Africa and advancing Morocco Digital 2030 — as possible levers to rebuild competitiveness. --- ## “The Next Step for African Private Equity Is Mobilizing African Savings” — Aziz Mebarek, AfricInvest Co-Founder URL: https://startupsmena.com/the-next-step-for-african-private-equity-is-mobilizing-african-savings-aziz-mebarek-africinvest-co-f-mpkdnax1 Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** Aziz Mebarek, who co-founded AfricInvest with Ziad Oueslati in Tunis in 1994, is one of the pioneers of African private equity. A civil engineer by training, he has helped shape the industry across th Aziz Mebarek, who co‑founded AfricInvest with Ziad Oueslati in Tunis in 1994, says the next step for African private equity is mobilising domestic savings. AfricInvest now manages 22 funds, oversees more than $2 billion in assets and 170 investments across 25 countries, according to Mebarek, who spoke to Agence Ecofin on the sidelines of the Africa Forward event following the African Private Equity and Venture Capital Association (AVCA) conference in Nairobi in late April 2026. Three decades after the sector began in earnest, private capital deployed through private equity, private debt and venture capital across Africa totals roughly $5 billion, he noted — a figure he contrasts with $125 billion across Europe and the UK. "We will see real momentum when more than 50% of capital raised comes from African savings," Mebarek said. "That will take years, perhaps decades." Context and industry progress Mebarek, a civil engineer by training and one of the pioneers of African private equity, highlighted a multi‑pronged journey from the continent's first private equity fund in 1994 to the present ecosystem. He recalled that AfricInvest helped create AVCA and that the association was "born in our offices." AVCA's recent Nairobi conference was oversubscribed: "At the last conference in Nairobi two weeks ago, organizers had to turn people away," he said, underlining the growing institutional interest. Despite progress, Mebarek stressed the sector remains dependent on international institutional investors. "The past thirty years were first and foremost about building high‑quality teams across every part of the continent. But we are far from maturity, and far from having reduced our dependence on traditional investors," he told Ecofin Agency. Current private capital deployed across Africa: approximately $5 billion. AfricInvest footprint: 22 funds, $2 billion+ in assets, 170 investments across 25 countries. Comparative benchmark: $125 billion in private capital in Europe and the UK. Private debt, social returns and mobilising capital Mebarek argued that mobilising African savings will require awareness, track records, market liquidity and integration of private capital into institutional asset allocations. He highlighted a social‑value argument as part of the case for domestic investment: "For every dollar invested, the social return can reach $10, $15, $20, and in some cases up to $80," he said, adding that serious African institutions "cannot afford to ignore that." On product diversification, Mebarek said private debt is now a structural feature of the continent's finance stack rather than a cyclical response to interest rates. AfricInvest launched one of the first African private debt funds around ten years ago and, according to Mebarek, the number of credible private debt players continues to grow. He emphasized that debt funds finance SMEs through capex and working capital and provide an alternative for family businesses reluctant to dilute ownership. Outlook Looking ahead, Mebarek set a pragmatic timetable: mobilising domestically sourced capital "will take years, perhaps decades," and progress must be steady rather than rushed. He urged African pension funds and other institutional investors to integrate private capital into diversification strategies incrementally, noting strong interest but a gap between stated intent and the allocations required. With the continent facing the challenge of creating roughly 2 million jobs a month — about 25 million a year — Mebarek framed private equity and private debt as tools to build jobs, sustainable businesses and measurable social returns. --- ## Planning minister pushes digital payments partnerships with national fintech firms URL: https://startupsmena.com/planning-minister-pushes-digital-payments-partnerships-with-national-fintech-firms-dailynewsegypt-mpk9g3qm Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** Ahmed Rostom, Minister of Planning and Economic Development, convened a high-level meeting with Ashraf Negm, Vice Chairperson and Managing Director of the National Investment Bank (NIB); Osama Saleh, Ahmed Rostom, Egypt’s Minister of Planning and Economic Development, convened a high-level meeting with senior executives from national financial and fintech institutions to advance the country’s electronic payments infrastructure. Participants included Ashraf Negm, Vice Chairperson and Managing Director of the National Investment Bank (NIB); Osama Saleh, Chairperson of Ayady for Investment and Development and former Minister of Investment; Rafeh Saleh, CEO of the Entrepreneurship Sector at NI Capital; and Hazem Saafan, Chairperson of Sahl Electronic Payments. Heba Zaki, Director of the Egypt Entrepreneurship and Innovation Centre, and other senior ministry officials also attended. "Digital transformation and the modernization of government services are central pillars of Egypt’s sustainable development agenda," Rostom said, underlining the meeting’s focus on public-sector reform and inclusion through technology. Meeting objectives and participants Ashraf Negm — Vice Chairperson and Managing Director, National Investment Bank (NIB) Osama Saleh — Chairperson, Ayady for Investment and Development; former Minister of Investment Rafeh Saleh — CEO, Entrepreneurship Sector, NI Capital Hazem Saafan — Chairperson, Sahl Electronic Payments Heba Zaki — Director, Egypt Entrepreneurship and Innovation Centre The discussions centered on strengthening cooperation between the public sector and national fintech firms to develop and expand Egypt’s electronic payments system. Officials framed the drive as a means to improve citizens’ living standards and to enhance the efficiency of public services. According to the ministry’s account, the talks also covered investment projects affiliated with the National Investment Bank and ongoing efforts to reinforce Egypt’s entrepreneurship and innovation ecosystem. Rostom emphasized the need to "forge strong partnerships with the private sector to leverage modern expertise and technologies, thereby delivering more efficient and accessible services to citizens." The minister framed collaboration with domestic fintech companies as a critical component in advancing Egypt’s digital infrastructure and achieving wider financial inclusion. Representatives from the participating companies, particularly those operating in the smart payments sector, reaffirmed their commitment to supporting state initiatives. The meeting reviewed mechanisms to expand the use of modern digital solutions across government and public services, with attendees examining the latest technologies offered by Sahl Electronic Payments in the field of digital payments. Officials highlighted that these efforts align with Egypt’s broader orientation toward building an integrated digital economy. NI Capital’s entrepreneurship arm and the Egypt Entrepreneurship and Innovation Centre were cited as key partners for scaling innovative payment solutions and fostering startups that can contribute to public-service modernization. Looking ahead, the parties signalled an intention to accelerate pilot projects and identify practical deployment paths for smart-payment platforms within government services. While the meeting did not announce specific funding figures or timelines, it established a policy direction focused on public–private coordination, NIB-linked investment projects, and targeted expansion of cashless transaction infrastructure across public-service channels. --- ## Aramco and Pasqal Launch Saudi Arabia’s First Quantum Computer and Region’s First QCaaS Platform URL: https://startupsmena.com/aramco-and-pasqal-launch-saudi-arabias-first-quantum-computer-and-regions-first-qcaas-platform-chann-mpk9ddyb Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** Aramco and Pasqal Launch Saudi Arabia’s First Quantum Computer and Region’s First QCaaS Platform · IBM and U.S. Department of Commerce to Build America’s First Purpose‑Built Quantum Foundry · Akamai t Lead Saudi Aramco and French quantum firm Pasqal have inaugurated the Kingdom’s first quantum computer and launched the Middle East’s first commercial Quantum Computing as a Service (QCaaS) platform at Aramco’s Dhahran data centre, the companies announced on May 22, 2026. The system—built on Pasqal’s neutral‑atom hardware—entered full operational use after a late‑2025 deployment of a 200‑programmable‑qubit Quantum Processing Unit (QPU). The cloud‑accessible QCaaS offering is intended to give enterprises, researchers and industrial users low‑latency, secure access to one of the world’s operational quantum processors to accelerate applications across energy, materials, logistics and advanced manufacturing. Direct quote “This quantum milestone belongs to our Saudi researchers, engineers and scientists. By investing in joint training and research, we are building world‑class quantum expertise right here in the Kingdom—expertise that will power the next generation of energy solutions, accelerate lower‑carbon fuel development, and enhance reservoir and supply‑chain optimization. Let this achievement be the catalyst for an innovation‑driven economy, creating high‑impact, future‑ready jobs for our youth and advancing Saudi Vision 2030,” said Ahmad O. Al Khowaiter, Aramco Executive Vice President of Technology & Innovation. Context and details Pasqal’s CEO Wasiq Bokhari framed the initiative as an active effort to shape the global quantum landscape and to make quantum resources available for industrial use. “Aramco is not just waiting for quantum computing, it is helping to shape it as a global leader. This inauguration shows that the most demanding industrial challenges are now being tackled with Pasqal’s quantum processors, software, and solutions. Deploying our system for Aramco’s business‑critical operations—while also making it available to the region’s enterprises and research community—is central to our mission of enabling practical and secure quantum computing at scale,” Bokhari said. The QPU, deployed in late 2025, uses neutral‑atom technology and supports 200 programmable qubits. Aramco and Pasqal said the system will be accessible through Pasqal’s cloud platform, providing external organisations—including universities, research institutions and commercial enterprises—remote access to run experiments, develop quantum algorithms and build quantum‑hybrid applications. Location: Aramco data centre, Dhahran, Saudi Arabia. Hardware: Pasqal neutral‑atom QPU, 200 programmable qubits (deployed late 2025). Access model: Commercial QCaaS via Pasqal’s cloud platform with low‑latency, secure connectivity. Commercial and research use cases cited: optimization, simulation, AI‑driven modelling. Joint workstreams already underway: port logistics optimization, CO₂ storage modeling, well placement, rig scheduling, and quantum workforce development. Outlook Aramco said the partnership will advance a roadmap of production‑ready quantum use cases across energy, materials and industrial operations, while Pasqal emphasised deployment in business‑critical environments and broader regional access. Aramco’s venture capital arm, Wa’ed Ventures, first invested in Pasqal in 2023, underpinning efforts to localise advanced quantum technologies and accelerate a domestic quantum ecosystem. Together the organisations expect the QCaaS platform to shorten the path from research to production for quantum‑hybrid applications that address reservoir optimisation, supply‑chain problems and lower‑carbon fuel development, while supporting workforce training aligned with Saudi Vision 2030. --- ## Moroccan billionaire Moulay Hafid Elalamy buys Swedish lender to target Europe’s bad-loan market URL: https://startupsmena.com/moroccan-billionaire-moulay-hafid-elalamy-buys-swedish-lender-to-target-europes-bad-loan-market-busi-mpjt9xct Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** Moroccan billionaire Moulay Hafid Elalamy has acquired Swedish credit institution Arktika Capital AB as Europe’s growing debt stress fuels demand for distressed loan investors. | Business Insider Afri Moroccan billionaire Moulay Hafid Elalamy has acquired a majority stake in Swedish credit institution Arktika Capital AB, a move that gives him direct exposure to Europe’s expanding market for distressed and non‑performing loans, Business Insider Africa reported on 24 May 2026. The purchase, first reported by Africa Intelligence, positions Elalamy’s Saham Group inside a regulated European financial vehicle that buys, manages and recovers value from defaulted loan portfolios across the continent. "Industry executives at the NPL Europe 2026 conference in London warned recently that a growing number of so‑called 'Stage 2' loans, debt showing early signs of deterioration, could soon move deeper into distress territory." Context and deal details Arktika Capital AB is a Swedish licensed credit institution that purchases non‑performing and distressed loans from banks and other financial institutions at discounted prices, then works to recover value over time. The business model is combined with a smaller retail savings arm, Arktika Spar, which offers fixed‑term savings accounts to Swedish customers and supplies a stable funding base for longer recovery timelines. Buyer: Moulay Hafid Elalamy, chairman of Saham Group and 66 years old. Target: Arktika Capital AB, a Swedish credit institution focused on distressed loan portfolios and retail savings via Arktika Spar. Rationale: Exposure to Europe’s growing bad‑loan market as higher borrowing costs and slowing growth increase repayment stress. Reporting: Deal reported by Africa Intelligence and covered by Business Insider Africa. The acquisition deepens Elalamy’s drive into regulated financial assets in Europe and follows a series of international moves since he sold Saham’s African insurance operations to Sanlam in 2018. He has since pivoted into banking, technology and international financial services: he re‑entered Moroccan banking with the acquisition of Société Générale Maroc, now rebranded as Saham Bank, and has been increasing his stake in Teleperformance (now branded TP), becoming one of its key shareholders through market purchases and equity‑linked transactions. According to Forbes, Elalamy’s fortune is estimated at around $2.1 billion. Business Insider Africa notes that the Swedish purchase adds a regulated European institution to his portfolio at a time when investors are targeting distressed assets across major markets such as Germany and France, where banks are preparing for a protracted period of weak growth and elevated borrowing costs. Outlook Analysts and industry participants at NPL Europe 2026 have highlighted the growing pipeline of early‑stage stressed loans and warned they may migrate into deeper distress, creating inventory for specialised buyers. For Elalamy, Arktika Capital represents a strategic foothold in that market: the combination of distressed debt investing and a deposit base via Arktika Spar could support extended recovery horizons and generate outsized returns for investors willing to endure lengthy restructurings and regulatory complexity. The move also underscores a broader trend of wealthy African investors acquiring strategic assets in Europe, as financial stress in advanced economies creates opportunities for outside capital willing to navigate recovery timelines and local regulation. --- ## Gate Capital News Letter URL: https://startupsmena.com/gate-capital-news-letter-issue-750-gate-capital-mpjg4nfz Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** eVoost AI, the Abu Dhabi-based proptech startup, has raised €2 million ($2.2 million) in a funding round led by First Drop VC, as the company accelerates the development of its AI-powered residential Abu Dhabi-based proptech startup eVoost AI has raised €2 million (approximately $2.2 million) in a funding round led by First Drop VC as it accelerates development of an AI-powered residential sales platform and prepares for further international expansion, Gate Capital reported in its News Letter, Issue 750. "eVoost AI, the Abu Dhabi-based proptech startup, has raised €2 million ($2.2 million) in a funding round led by First Drop VC," the Gate Capital News Letter said, highlighting the round as a catalyst for the company’s product and market roadmap. Round details and strategic intent The financing will support eVoost AI’s push to refine its artificial intelligence capabilities for residential sales and to expand beyond the UAE. The Gate Capital summary links the funding explicitly to the acceleration of the company’s AI-powered residential sales platform and its international growth plans. First Drop VC led the round; Gate Capital did not disclose other participating investors or whether the €2 million includes any convertible instruments or grants. eVoost’s raise comes amid a busy regional funding week captured in Gate Capital’s roundup, which also notes several other early- and growth-stage transactions across the Gulf and North Africa. The newsletter listed transactions including Arib’s $23.5 million round led by Merak Capital, GrowthLabs’ acquisition of Startup Gate, and multiple strategic corporate investments. Peekabox closed an oversubscribed $1.5 million seed round. Founded in 2025 by Hasan and Omair Sarwar, the UAE’s first surplus food marketplace helps F&B and grocery businesses sell excess food at 50–70% discounts. Arib raised $23.5 million in a round led by Merak Capital to expand its digital financing marketplace in Saudi Arabia. GrowthLabs announced the acquisition of Startup Gate to build a unified startup infrastructure across MENA. JCIF launched Manara Ventures, a JOD 50 million (about $70.5 million) growth fund to back Jordanian tech companies, with backing from regional investors including Abu Dhabi-based Lunate. Market observers say the combination of targeted venture capital and strategic corporate dealmaking is shaping a more diversified investment landscape across the region’s proptech, fintech and food-tech verticals. For eVoost AI, the fresh capital is intended to accelerate product development and market entry—but specifics on timing for new market launches or customer pilots were not disclosed in the Gate Capital note. Looking ahead, eVoost will be watched for product milestones, pilot deployments in target markets and potential follow-on rounds as it scales AI capabilities for residential property sales. The wider newsletter suggests investor appetite remains active for regionally headquartered startups addressing real estate transaction efficiency, surplus food channels and digital lending infrastructure—sectors that continue to attract both VCs and strategic investors across the Gulf and North Africa. --- ## Morocco bets gaming can create its first unicorns URL: https://startupsmena.com/morocco-bets-gaming-can-create-its-first-unicorns-startup-fortune-mpjbglez Date: 2026-05-24 Category: tech Tags: morocco, video-games, funding, rabat-gaming-city, tamwilcom **Summary:** Morocco has folded video games into its national startup agenda, adding gaming companies to its Innovation Support Fund (up to 3 million dirhams per project) and selecting nine managers for a 2.5 billion dirham startup program as part of Digital Morocco 2030's targets for startups, jobs and stronger venture funding by 2030. Morocco has formally folded video games into its national startup agenda as it seeks to turn the sector into a source of jobs, exports and, eventually, large-format companies. Crown Prince Moulay El Hassan opened the third Morocco Gaming Expo in Rabat — held May 20–24 under the high patronage of King Mohammed VI — and the government added gaming companies to its Innovation Support Fund with support capped at 3 million dirhams per project. The move sits alongside broader Digital Morocco 2030 targets that aim for 3,000 startups, 240,000 digital jobs and stronger venture funding by 2030, while in April 2026 Morocco selected nine fund managers for a 2.5 billion dirham startup investment program (roughly $250 million) backed by a risk-sharing mechanism through TAMWILCOM. "That is a serious signal. It means video games are no longer being treated as a youth hobby or a side market," Julian Lim wrote in Startup Fortune, capturing the government's intent to fold gaming into "the same conversation as digital exports, startup funding, talent development, and Morocco's broader push to build companies that can compete beyond its borders." The government has publicly set an ambitious benchmark: "Government messaging has pointed to a goal of capturing 1 percent of the global video game market by 2030." Even conservative industry estimates underline the scale of that ambition. Statista-linked figures cited in the report place Morocco's domestic video game market at about $227 million in 2024, with projections near $297 million by 2027 — a far cry from the billions implied by a 1 percent global share. Lim stresses a central analytical point: measurement matters. "If Morocco wants more employment, then contract work and nearshoring are useful. If it wants unicorns, then it needs product companies with intellectual property, global distribution, repeatable revenue, and access to much deeper pools of risk capital," he wrote. That distinction separates fast-scaling product studios from service-oriented firms that provide development, QA, localization and asset work for foreign publishers. Innovation Support Fund: support capped at 3 million dirhams per gaming project Digital Morocco 2030: targets 3,000 startups and 240,000 digital jobs April 2026 fund program: nine managers selected for 2.5 billion dirhams (~$250 million) via TAMWILCOM risk-sharing Gaming market estimates: ~$227 million (2024) and ~$297 million (2027), per Statista-linked data Offshoring sector: ~148,500 employees and >26 billion dirhams in export revenue by end-2024; government target ~40 billion dirhams by 2030 Practical strengths point away from instant unicorns and toward export-led growth. Lim notes Morocco's established offshoring base — about 148,500 people employed in the sector and more than 26 billion dirhams in export revenue at the end of 2024 — and argues that initiatives such as Rabat Gaming City position Morocco as an attractive nearshore hub for European studios. Those contracts create jobs and build a developer pipeline, though they do not automatically translate into billion‑dollar product companies. Looking ahead, Lim offers a tempered verdict: "The encouraging sign is that the base is forming. Morocco has more gaming startups than it did a few years ago, more public programs, more sector visibility, and now a clearer funding path than before." He concludes with a practical takeaway: "Morocco's gaming push is current, relevant, and worth watching, but the most credible near-term win is not a unicorn." For policymakers and founders, the challenge will be turning improved funding, training and visibility into sustained product companies that own intellectual property and can attract patient growth capital. --- ## Morocco pitches diaspora investors to fund next phase of industrial expansion URL: https://startupsmena.com/morocco-pitches-diaspora-investors-to-fund-next-phase-of-industrial-expansion-mpjbiwyz Date: 2026-05-24 Category: funding Tags: morocco, diaspora-investment, funding, manufacturing, renewable-energy, aziz-akhannouch **Summary:** Morocco is actively courting its diaspora to shift remittance flows into direct, productive investment to support a new phase of industrial and infrastructure expansion. Government reforms, digitized approval channels and institutional changes aim to convert part of the roughly 122 billion dirhams in annual remittances into equity, joint ventures and direct investment. Lead Morocco’s head of government used a national investment forum in Tangier on Friday to urge Moroccans living abroad to move beyond remittances and become direct investors as Rabat prepares for a new phase of industrial and infrastructure expansion. The forum, held under the patronage of King Mohammed VI, drew Prime Minister Aziz Akhannouch, ministers, regional officials, business leaders and representatives of Morocco’s roughly five million expatriates. Officials highlighted that Moroccans abroad sent more than 122 billion dirhams ($13.2 billion) home in 2025, yet diaspora investment still accounts for only around 10% of national private investment. Direct quote Prime Minister Aziz Akhannouch told attendees Morocco intends to shift “from financial transfers to productive investment,” arguing that overseas Moroccans are not only a source of foreign currency but also a reservoir of international business networks, technical expertise and entrepreneurial capital. Context and details The Tangier forum reframed diaspora policy away from traditional focuses — remittances, seasonal return operations and administrative services — and positioned overseas Moroccans as partners in targeted sectors such as automotive manufacturing, aerospace, renewable energy, batteries and logistics. Government messaging tied the appeal to concrete national priorities including electric vehicle supply chains, green hydrogen projects, logistics infrastructure and preparations for the 2030 FIFA World Cup. The National Investment Commission has approved 381 projects worth 581 billion dirhams since the current government took office; those projects are expected to create more than 245,000 direct and indirect jobs, Akhannouch said. Reforms presented to ease investment barriers include a new investment charter, digitization of procedures through platforms such as CRI Invest and DirectEntreprise, and decentralization of approvals for projects valued below 250 million dirhams. Officials acknowledged longstanding complaints from diaspora investors about bureaucracy, fragmented institutions and slow administrative procedures and said the recent measures aim to address those frictions. Institutional changes are also underway: following royal directives linked to the 49th anniversary of the Green March, Rabat plans to strengthen the Council of the Moroccan Community Abroad and create the Mohammed VI Foundation for Moroccans Abroad. Outlook Rabat is explicitly courting the diaspora as a source of long-term productive capital rather than short-term remittance flows as it accelerates manufacturing and infrastructure projects. The combination of project pipelines worth hundreds of billions of dirhams, digitized approval channels and institutional reforms is intended to convert part of the roughly 122 billion dirhams in annual remittances into equity, joint ventures and direct investment. The success of that strategy will depend on whether the government’s administrative reforms and newly announced institutional mechanisms materially reduce the barriers that have kept diaspora investment at around one-tenth of private investment to date. --- ## Top 10 Most Funded African Tech Startups in 2025 URL: https://startupsmena.com/top-10-most-funded-african-tech-startups-in-2025-innovation-village-technology-product-reviews-busin-mpjbdwyy Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** The Cairo-based startup raised $75 million, with $52 million coming from Series A equity led by Partech Africa and an additional $23 million from a group of ten Egyptian banks. This equity funding is The Cairo-based startup raised $75 million in 2025, with $52 million coming from a Series A equity round led by Partech Africa and an additional $23 million provided by a syndicate of ten Egyptian banks. According to Innovation Village's summary of Disrupt Africa’s 11th annual report, this equity funding is one of the largest Series A rounds in African proptech history and comes in a year when 178 startups across the continent raised a combined $1.64 billion — a 46.2% increase on the $1.12 billion recorded in 2024. "Although the 'funding winter' isn't completely over, we can see a clear thaw," the report notes, capturing a shift in investor behaviour in 2025. Context and major rounds Disrupt Africa's figures point to a concentrated flow of capital: fewer deals but larger ticket sizes. The 2025 ranking of the continent’s biggest funding rounds is notable not just for the dollar amounts but for the structures behind them — many of the top deals were non-equity instruments such as debt facilities, securitisations and receivables financing. d.light — $300 million: The Nairobi-based solar company increased its receivables financing by $300 million in a deal led by Mirova and arranged by African Frontier Capital. "This strategy lets d.light grow its distribution without giving up ownership," the report states, noting the company has approached a total financing capacity of nearly $1 billion. Sun King (Greenlight Planet) — $156 million: Sun King closed an $80 million loan in Nigerian naira and a $156 million securitisation in Kenya, the latter described as the largest securitisation of its kind in sub‑Saharan Africa outside South Africa. Combined, the transactions pushed the company’s 2025 capital intake above $230 million. Wave — $137 million: Senegal’s Wave secured €117 million (reported as $137 million) in debt financing in a round led by Rand Merchant Bank with participation from BII, Finnfund and Norfund to support working capital and expansion across West Africa. MNT‑Halan — $120.4 million: Egypt’s fintech unicorn completed two securitisation issuances in 2025 — approximately $49.4 million in May and $71.4 million in October — as part of a structured three‑year programme worth about $168 million. Spiro — $100 million: The electric‑mobility operator raised $100 million in a round led by FEDA with debt participation from Afreximbank to expand its battery‑swap network, which by late 2025 had deployed over 60,000 electric motorcycles and more than 1,500 swap stations across several countries. LXE Hearing — $100 million: Formed in 2025 from the merger of US-based Eargo and South Africa’s hearX, the new entity raised $100 million from Patient Square Capital to fund global expansion and technology development. Geographically, Kenya led funding in 2025 with $879 million, followed by South Africa at $848 million and Egypt at $561 million, while Nigeria fell to fourth place. The dominance of structured and debt-like instruments among the largest rounds suggests established startups are increasingly tapping lenders and capital markets to scale without further equity dilution. Looking ahead, the report signals investors are favouring companies with proven revenue models and clear paths to profitability, and lenders appear more willing to treat select African tech firms as reliable credits rather than purely high‑risk bets. --- ## Why 80% of African startup funding comes from foreign investors and what it means for local founders URL: https://startupsmena.com/why-80-of-african-startup-funding-comes-from-foreign-investors-and-what-it-means-for-local-founders-mpjbbdao Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** A new study of 4,444 founders across 51 countries reveals the hidden frictions shaping who builds, who funds, and who gets left out of Africa's startup boom. ... In Lagos, Nairobi, Cape Town and Cairo New study finds 80% of African VC deals include foreign investors; local founders steer toward equity but face access barriers A study of 4,444 founders across 51 countries by a team of economists at the University of Chicago, Columbia, Stanford and the World Bank's IFC finds that roughly eighty percent of venture-capital deals in Africa involve at least one foreign investor. The report, published in May 2026, highlights stark concentrations and frictions: in 2022 the continent attracted barely one percent of global VC deal value despite representing nearly three percent of world GDP; the median African startup raises about $900,000 in its first round; and the so‑called "Big Four"—Nigeria, Kenya, South Africa and Egypt—accounted for 72% of VC deal value in 2024 while representing 42% of African GDP. "Africa's founders display an overwhelming preference for equity over debt — so strong that switching a hypothetical offer from a debt instrument to an equity one is valued by founders as much as cutting the interest rate by eleven percentage points," the study's authors write. That demand for equity sits against a financing landscape shaped and largely serviced from abroad. Most foreign capital flows from North America and Europe, with China and development finance institutions playing smaller roles. More than half of African VC deals are denominated in foreign currencies, and among deals involving foreign investors the share approaches two‑thirds. Successful startups often reincorporate in Delaware, Mauritius or the Cayman Islands, effectively moving key contracting offshore. Founder mobility: 46.8% of VC‑backed founders studied abroad; 58.4% worked abroad; combined, roughly two‑thirds of funded founders have foreign education or work experience. Geographic concentration: Lagos, Nairobi, Cape Town and Cairo captured nearly half of VC money on around a tenth of the continent's GDP. Network effects: a founder whose investor's country matches their country of education is 7.7 percentage points more likely to receive funding from that country, against a baseline probability of 2.2%—roughly a fourfold increase. Each such match brings, on average, an additional $1.1 million in funding. The study also runs counterfactuals to quantify the impact of local capital constraints: reducing local‑capital frictions to European levels would raise the share of locally financed deals from 26% to 42% and expand startup creation by roughly 13%. Lifting the constraint on local entrepreneurs reaching the financing margin—chiefly through human capital and access—could increase startup activity by 29%. For founders and policymakers the implications are concrete. The paper argues that pouring more dollars from London or San Francisco into the existing pipeline risks entrenching the current pattern: equity is what entrepreneurs want, but local equity remains scarce. The authors call for deeper African limited partners, stronger domestic pension and insurance pools, and broader efforts to bring non‑diaspora founders into the funnel, rather than relying on foreign LPs and offshore contracting alone. As the study concludes, "The plumbing, however, runs mostly through other people's countries — and quietly determines who gets to build." Examples of ongoing cross‑border activity include commercial moves such as Nigeria’s LemFi, which is reportedly eyeing a €30 million Series B extension as diaspora fintech expansion gathers pace. --- ## Chinese company begins construction of major aviation project in Dubai URL: https://startupsmena.com/chinese-company-begins-construction-of-major-aviation-project-in-dubai-press-releases-mykxlgcom-mpj2tocf Date: 2026-05-24 Category: tech Tags: mena, startup **Summary:** Located at Dubai World Central in the southern part of the emirate and with an investment of over 5 billion U.S. China Railway Construction Corporation Limited (CRCC) on Monday began construction of a major aviation engineering and maintenance complex for Emirates Airline at Dubai World Central, marking one of the largest projects of its kind globally. The facility, located in the southern part of the emirate, carries an investment of over 5 billion U.S. dollars, will cover roughly 1.1 million square meters and is scheduled for completion by mid-2030. The complex will include eight maintenance hangars, two paint hangars and supporting infrastructure, and it will have the capacity to service up to 28 wide-body aircraft simultaneously. "This project will play a key role in enhancing Dubai's capabilities to cater to the growing demand for advanced aviation services and maintenance solutions, while reinforcing the emirate's position as a global benchmark for aviation excellence, innovation, and long-term industry growth," said Khalifa Al Zaffin, executive chairman of Dubai Aviation City Corporation and Dubai South. Context and project details Contractor: China Railway Construction Corporation Limited (CRCC), a major Chinese engineering and construction company. Client: Emirates Airline and Group; Sheikh Ahmed bin Saeed Al Maktoum is identified in the release as chairman and chief executive of Emirates Airline and Group. Location: Dubai World Central, in the southern part of the emirate of Dubai. Investment and scale: An investment of over 5 billion U.S. dollars and a site area of about 1.1 million square meters. Facilities: Eight maintenance hangars, two paint hangars and supporting infrastructure designed to handle up to 28 wide-body aircraft at the same time. Timeline: Construction has commenced and the project is scheduled for completion by mid-2030. The announcement frames the undertaking as both a strategic expansion of Emirates' integrated engineering capabilities and a significant example of China-UAE cooperation. Dai Hegen, chairman of CRCC, described the project as "an important milestone in high-quality Belt and Road cooperation" and linked it to deepening practical ties between the two countries. He said, "In recent years, as China-UAE cooperation has continued to deepen, Chinese companies have been increasingly active in infrastructure development across the Middle East, with 'Chinese-construction' and 'Chinese-quality' steadily gaining recognition and injecting stronger momentum into the development of the China-UAE comprehensive strategic partnership," according to the release distributed by ABNewswire and published on the Belt and Road Portal. Outlook The new complex is intended to boost Emirates' maintenance capacity and reduce reliance on external facilities by centralizing heavy maintenance and paint operations at a single, large campus. With the ability to service up to 28 wide-body aircraft concurrently, the facility should support Emirates' large long-haul fleet and the airline's operational resilience as it manages maintenance cycles through 2030 and beyond. The project also serves as a showcase for Chinese contractors in the Middle East market and is presented by CRCC leadership as a tangible result of Belt and Road-era cooperation. Details of contract values, phased construction milestones and workforce composition were not disclosed in the announcement; the release cites the Belt and Road Portal as the originating source and lists additional distribution through ABNewswire. --- ## Startup Wrap: MENA startups attract fresh funding across fintech, HR tech and AI sectors URL: https://startupsmena.com/startup-wrap-mena-startups-attract-fresh-funding-across-fintech-hr-tech-and-ai-sectors-arab-news-mpiujycq Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** RIYADH: Startups across the Middle East and North Africa continued attracting investor interest this week, with companies operating in fintech, employment technology, property tech. Saudi digital fina Startups across the Middle East and North Africa continued to secure fresh capital this week, with notable raises in fintech, human-resources technology and sports tech. Saudi digital financing marketplace Arib closed a $23.5 million round led by Merak Capital that included Shariah‑compliant Murabaha financing facilities, while UAE‑founded RemotePass raised $17.4 million in a Series B led by EBRD Venture Capital. Other deals included a $70.5 million Jordan-focused scale‑up fund, a $12 million raise for Swedish sports tech PlayReplay, a $4 million investment into Egyptian ride‑hailer ARRW, a six‑figure injection into Tunisian insurtech EYST, and the $657,000 acquisition of Startup Gate by GrowthLabs. “This round is about acceleration,” said Kamal Reggad, CEO and co‑founder of RemotePass, summing up the company’s ambitions after its Series B. Details Arib — $23.5 million: Founded in 2018 by Omar Al‑Hammad, Mohamed Dessouky and Waleed Talat, Arib operates a financing marketplace that connects customers with banks and licensed lenders through a single digital platform. The company said the funding, led by Merak Capital, will support expansion of its technology infrastructure, accelerate product development, strengthen operations and launch new financing products for consumers and businesses amid rising demand for faster, flexible financing solutions in Saudi Arabia. RemotePass — $17.4 million Series B: Led by EBRD Venture Capital with participation from 500 Global and existing backers including Oraseya Capital, 212 VC, Access Bridge Ventures and Khwarizmi Ventures, RemotePass — founded in 2021 — provides payroll, contractor management and workforce payments across markets. The company supports more than 35,000 workers across over 150 countries and has facilitated more than $800 million in cross‑border payroll. RemotePass said the funds will drive expansion into Europe and the US, bolster compliance coverage and continue investment in embedded financial products and AI capabilities, including its recently launched SpendCards and AI agents for onboarding and support. Manara Ventures (JCIF) — $70.5 million: Jordan Capital and Investment Fund launched Manara Ventures, a $70.5 million scale‑up fund focused on Jordanian technology and innovation‑driven startups. Backed by regional institutional investors including Abu Dhabi’s Lunate and established as a fully Shariah‑compliant platform in Abu Dhabi Global Market, Manara plans cheque sizes from $750,000 to $3 million and has reserved capital to support up to 15 high‑performing startups pursuing regional expansion. PlayReplay — $12 million: Swedish sports tech PlayReplay, founded by Hans Lundstam and Mattias Hanqvist, raised $12 million in a round led by Alfven Didrikson with a syndicate including Center Court Capital and others. The company, which builds AI systems for racquet sports, plans to expand into MENA with Saudi Arabia, the UAE, Qatar and Egypt identified as priority markets and has partnered with Soderhub for regional partnerships. ARRW — $4 million: Egypt’s ARRW, founded by Ahmed Taalab and described as the country’s first licensed ride‑hailing platform, secured $4 million from Tasheed Egypt to expand its driver network, strengthen technical infrastructure and improve user experience. EYST Technology — six‑figure investment: Tunisian insurtech EYST, founded in 2022 by Marwen Amamou, Antoine Vanoverberghe and Arnaud Brodzki, raised a six‑figure investment from 216 Capital. EYST’s SaaS platform enables insurers to settle claims instantly using virtual bank cards; the funding will support product development, sales and data hires and international expansion across Europe, the US, the Middle East, South America and Asia. GrowthLabs acquires Startup Gate — $657,000: Egypt‑based GrowthLabs, founded by Islam Mohamed, acquired founder and investor network Startup Gate for $657,000 in a deal facilitated by M‑Empire. The acquisition will integrate Startup Gate’s network into GrowthLabs’ Catalyst OS to create a unified digital infrastructure for entrepreneurship and startup support; GrowthLabs says it has supported more than 5,000 startups to date. Outlook: The wave of deals highlights targeted capital deployment across niches from digital lending and payroll infrastructure to insurtech and mobility. Investors signaled appetite for both regional scale plays and sector‑specific technologies — with several companies earmarking funds to accelerate product development, geographic expansion and compliance and AI capabilities that underpin cross‑border operations. --- ## Launch of PropTech Hub as a Strategic Investment Company to Support and Advance Real Estate Technology in Egypt and the Region URL: https://startupsmena.com/launch-of-proptech-hub-as-a-strategic-investment-company-to-support-and-advance-real-estate-technolo-mpis8slp Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Cairo – 23 May 2026: Coldwell ... in Egypt and the region. The launch of PropTech Hub comes as an extension of the PropTech Program that was introduced last October as an initiative aimed at supportin Cairo – 23 May 2026: Coldwell Banker Commercial Advantage, Edafa Venture and Prime Group Egypt have launched PropTech Hub, described as the first specialised investment and development company focused on accelerating real estate technology (PropTech) firms in Egypt and the wider region. Announced as an extension of the PropTech Program introduced last October, PropTech Hub positions itself as a fully integrated institutional ecosystem that will identify promising startups, invest in them and support their growth through funding, strategic guidance, market intelligence and operational expertise. "The launch of PropTech Hub represents a strategic step toward establishing a structured investment company dedicated to real estate technology. Our focus is on empowering scalable solutions and connecting promising startups with real growth opportunities through impactful partnerships and investments," said Mahmoud Farag, CEO of Prime Group Egypt. Context and structure PropTech Hub is designed to bridge the gap between real estate and technology by creating a platform that combines innovation, investment and industry know‑how. The company says it will support startups at both early and growth stages and provide access to an "extensive network of developers, investors, operators, and key stakeholders across the real estate sector." Connect – building effective bridges between entrepreneurs, investors and real estate industry leaders; Innovate – encouraging forward‑looking solutions that redefine development, management and operational models within the real estate sector; Elevate – supporting promising companies to scale, expand market reach and maximise investment impact. The launch follows the PropTech Program rolled out in October and represents a move from programme activity to a dedicated investment vehicle. PropTech Hub’s remit covers technology applications across development, management, operations, marketing and real estate investment, with an emphasis on solutions that can deliver scalable, measurable market impact. Essam Ali, CEO of Edafa Venture, framed the initiative as targeting long‑term sectoral transformation: "Real estate technology is among the most promising sectors over the coming decade, both regionally and globally. Through PropTech Hub, we aim to identify and support companies capable of delivering transformative solutions that reshape the real estate industry." He added that the aim is to back ideas "that create smarter, more efficient, and more sustainable real estate ecosystems, while enabling startups to scale rapidly and maximize their investment value." Sherif Hassan, Chairman of Coldwell Banker Commercial Advantage, highlighted the Hub's industry integration: "The real estate market is undergoing a fundamental shift toward smart solutions and advanced technologies. PropTech Hub will play a pivotal role in connecting innovation with real market implementation by bringing together developers, investors, entrepreneurs, and technology providers within one integrated ecosystem." He said the vision extends to "redefining the relationship between technology and real estate while creating new investment opportunities driven by innovation and efficiency." Outlook PropTech Hub has announced plans to host a launch event to unveil its first cohort under the initial investment and acceleration framework and to present its strategic roadmap and targeted partnerships. The event is expected to attract developers, investors, entrepreneurs, technology innovators and media representatives, signalling the Hub’s intent to act as a catalyst for adoption and commercialisation of PropTech solutions in Egypt and the region. By combining investment capital, sector expertise and a built network, PropTech Hub aims to convert innovative ideas into operational businesses with tangible market influence, supporting the wider uptake of digital and sustainable approaches across the real estate industry. --- ## Booked yet? Riyadh Air opens London ticket sales on new Boeing 787 flights from July URL: https://startupsmena.com/booked-yet-riyadh-air-opens-london-ticket-sales-on-new-boeing-787-flights-from-july-mpis5okt Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Riyadh Air has launched its long-awaited commercial flights to London. ... Dubai: Saudi PIF-owned airline startup, Riyadh Air, has opened public ticket sales for flights on its new Boeing 787-9 Dreaml Riyadh Air has opened public ticket sales for flights on its new Boeing 787-9 Dreamliners on the Riyadh–London route, with full-service operations scheduled to begin on July 1, 2026, the carrier announced. The Saudi PIF-owned startup said seats for flights between King Khalid International Airport and London Heathrow are now available through its website, mobile app and major travel booking platforms, after ticketing opened on May 19. “Today marks a truly exciting milestone for Riyadh Air as we introduce our new aircraft and signature premium experience on our established London route,” said Tony Douglas, CEO of Riyadh Air. “Connecting Saudi Arabia with the UK directly and beyond through our growing network of global destinations including Jeddah, Cairo and Dubai, sits at the very heart of what we are building at Riyadh Air and the Kingdom’s ambitions under Vision 2030.” Details The carrier — owned by the Saudi Public Investment Fund — has already operated daily Riyadh–London services since October 26, 2025, using a technical spare aircraft named "Jamila" as part of an operational readiness programme. Those initial flights have been available via approved travel partners and will continue through June 30, after which the route will switch exclusively to the airline’s incoming 787-9 Dreamliners. Aircraft type: Boeing 787-9 Dreamliner (new deliveries due in the coming weeks) Commercial full-service start date: July 1, 2026 Ticket sales opened: May 19, 2026 Current interim operations commenced: October 26, 2025 (aircraft “Jamila”) Route: Riyadh King Khalid International Airport ↔ London Heathrow Riyadh Air had originally targeted a 2025 launch for commercial operations, a date it missed for full Dreamliner service but partially met through the earlier operational readiness flights. The airline said the Boeing 787-9s that will enter service on July 1 are expected to be delivered in the coming weeks, enabling the switch to a consistent Dreamliner-led schedule for the capital-to-capital route. Outlook The move to open public bookings and commit the Riyadh–London route to the new 787-9 fleet signals a step up in Riyadh Air’s commercial rollout as it expands its international footprint. The carrier said more destinations will be announced as it grows its network; Tony Douglas highlighted ambitions to link the UK “and beyond” to Saudi Arabia, naming Jeddah, Cairo and Dubai as part of the airline’s global connections. For travellers, the immediate impact is clearer availability of Dreamliner product on the Riyadh–London sector from July, and broader access to fares via the airline’s direct and partner channels. Riyadh Air’s timetable transition — from temporary technical aircraft to its own Dreamliners — will be watched closely as the carrier moves from operational readiness into sustained commercial service, a development first reported by Gulf News. --- ## Global investors’ interest in Saudi startups is accelerating URL: https://startupsmena.com/global-investors-interest-in-saudi-startups-is-accelerating-arab-news-mpid26xz Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Get the latest breaking news and headlines from the largest Arab News website. Get world news, sport news, business news, entertainment, lifestyle, video and photos. A record number of venture capitalists invested in Saudi startups in 2025, underscoring growing global interest in the Kingdom’s technology sector, industry leaders told Arab News. According to the Ministry of Communications and Information Technology’s 2025 annual report, venture capital reached SR6.4 billion ($1.7 billion) across 257 deals, while total technology investments amounted to SR21.7 billion, with international investors contributing SR7.6 billion. Saudi Arabia accounted for 56 percent of total venture capital investment in the region, and fintech alone made up 40 percent of deals in the first quarter of 2026. “Today, annual VC deployment stands at $1.7 billion — a 59 percent average annual growth over the past seven years — with 10 unicorns.” Nahim bin Moussa, investment manager at STV, framed the numbers as evidence of a maturing ecosystem that is attracting both local and international capital. He warned, however, that a funding shortfall persists beyond early-stage finance: “While we witness today abundant capital for early-stage startups, there is still a critical funding gap for growth and late-stage ones estimated at $16 billion until 2030.” Bin Moussa highlighted the evolution of investment platforms within the Kingdom as funds diversify their strategies. He noted STV’s move into non-dilutive instruments and strategic partnerships: “As the ecosystem matured, and capitalizing on a strong performance with our first fund, we have evolved into a multi-strategy platform with a non-dilutive capital NICE Fund backed by NTDP in 2024, and an Emerging Tech Fund backed by Google in 2025 with a strong focus on AI applications like Sawt.” SR6.4 billion ($1.7 billion) in VC across 257 deals in 2025. Total technology investment: SR21.7 billion; international investors: SR7.6 billion. Saudi Arabia accounts for 56% of regional VC; fintech 40% of deals in Q1 2026. Estimated $16 billion funding gap for growth and late-stage startups through 2030. Founders at active Saudi startups described the shift in investor appetite. Faisal Al-Maklas, co-founder and CEO of Torod, said: “Since the start of 2026, Saudi Arabia has witnessed a notable acceleration in investor interest in the startup sector, building on a cumulative growth trajectory seen in recent years.” He credited regulatory refinement and Vision 2030 for bolstering investor confidence: “Saudi Vision 2030 plays a central role in enhancing the Kingdom’s attractiveness to international investors. It has accelerated economic reforms, strengthened the regulatory environment, and supported innovation and entrepreneurship.” Bin Moussa used payments firm Tabby to illustrate rising international participation: “While Tabby in its early stages mainly attracted demand from domestic investors, it has more recently attracted significantly more demand from blue-chip, large international private equity investors from the US and China: the past 3 rounds — Series D, Series E, and pre-IPO — saw a total international investment of over $300 million from PayPal, Wellington Management, Bluepool, HongShan Capital, Boyu Capital, and a few other undisclosed names.” Mohammed Al‑Shaikh, co-founder of Netzero, which focuses on sustainability solutions, said international interest in his company remains limited but is expected to grow: “Currently, interest in our company is still primarily driven by local investors compared to international ones. However, we expect this to shift in the coming years, given the strength of our product and its potential to enable international players to enter the Saudi market.” Looking ahead, industry leaders say progress will be measured not only by deal volumes but by the quality of exits and post-IPO performance. “As our ecosystem matures, its success will increasingly be measured by sizeable, high-quality exits,” Bin Moussa said. “When those exits materialize through IPOs, the benchmark moves further: the ecosystem will be judged not just by the listing itself, but by the post-IPO performance of those companies in public markets.” --- ## Top Funding Wrap of the Week – 18 May to 22 May 2026 URL: https://startupsmena.com/top-funding-wrap-of-the-week-18-may-to-22-may-2026-mpi6bzko Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Neurotechnology startup Sychedelic has raised $3.5 million (around Rs 31.5 crore) in a seed funding round to scale its operations and expand globally. The round was backed by angel investors including Indian startups closed a string of funding rounds between 18 May and 22 May 2026, led by travel-focused fintech Scapia’s $63 million raise and a $3.5 million seed for neurotechnology startup Sychedelic. Scapia’s round was led by General Catalyst with participation from Peak XV Partners and Z47, while Sychedelic’s seed was backed by angel investors including TurboStart, Ideabaaz and Praveek Ventures as well as investors from India, the UAE and the NRI community. "Indian startups raised capital to expand and become more successful. Here is this week’s Top Indian Startups Funding Roundup – 18 May to 22 May 2026." Key rounds and planned uses of capital Scapia: $63 million led by General Catalyst; existing investors Peak XV Partners and Z47 also participated. The company said it will use the funds to grow and add more products in its financial services and travel businesses. ANSCER Robotics: $5.4 million Series A led by IAN Alpha Fund with participation from Info Edge and angel investors. ANSCER plans to improve its product platform, expand operations in the US and broaden its global partner network. Mythik: $5 million from investors including Harsh Jain (founder and CEO, dream11), Rajat Gupta (cofounder, Indian School of Business) and Blume Founders Fund. This is an extension of a $15 million round announced last May; post-money valuation has crossed $50 million. Sychedelic: $3.5 million (around Rs 31.5 crore) seed round backed by TurboStart, Ideabaaz, Praveek Ventures and other angels from India, the UAE and the NRI community. Funds will support marketing, increased manufacturing capacity, expanded research and a global Kickstarter launch planned for May 2026. Trackk: Rs 30 crore (about $3.16 million) extended seed led by Lightspeed India with participation from Info Edge Ventures. Regulatory filings show the issuance of 123,630 compulsory convertible preference shares (CCPS) at Rs 2,429 each. EndureAir Systems: ₹30 crore (about $3.1 million) grant under the Centre’s RDIF scheme as part of the first cohort of five startups in the government’s ₹1 lakh crore RDI scheme; cohort members include Dhruva Space, e-TRNL Energy, Noccarc Robotics and IISTEM Research. The grant aims to move projects closer to commercial deployment. Cellogen Therapeutics: INR 20 crore (about $2 million) from Kotak Alternate Asset Managers to develop CAR‑T clinical programs, expand its gene therapy pipeline and upgrade GMP-compliant manufacturing and regulatory systems. ONO: $1.2 million pre-Series A led by Aeravti Ventures, joined by angel investors and Tremis Capital to enhance the agri-finance startup’s technology platform, market entry and lending operations. Damroo: Strategic investment of Rs 5 crore from Hindustan Times to boost tech, artist network, regional discovery and monetisation; Hindustan Times will promote artists via Fever FM and its digital channels. Kalpi: Rs 3.75 crore seed from Rainmatter Capital to grow the team, purchase data, improve product and expand reach among retail and institutional customers. Outlook The week’s activity underscores focused capital allocation across travel-fintech, robotics, biotech, neurotechnology and creator platforms. Investors including General Catalyst, Lightspeed India, IAN Alpha Fund, Kotak Alternate Asset Managers and strategic media backers like Hindustan Times are backing both product development and go‑to‑market expansion. Notable near-term milestones include Sychedelic’s planned Kickstarter launch in May 2026, Trackk’s post-allotment valuation of about Rs 118 crore, and EndureAir’s progression toward commercial deployment under a government RDIF grant—signals that capital is being directed toward scaling, international expansion and commercialization. --- ## UAE Sovereign Wealth Funds Drive Global Expansion as State Funds Manage $2.9 Trillion in Assets URL: https://startupsmena.com/uae-sovereign-wealth-funds-drive-global-expansion-as-state-funds-manage-29-trillion-in-assets-techno-mpi40kq5 Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** State owned sovereign wealth funds are now managing assets estimated at nearly 2 9 trillion highlighting the growing global influence of sovereign capital State-owned sovereign wealth funds are now managing assets estimated at nearly $2.9 trillion, a scale that underscores the growing global influence of sovereign capital and the UAE’s accelerating role in strategic sectors worldwide, industry reporting shows. Published on Friday 22 May 2026, the Techno Time dispatch highlights how entities such as Abu Dhabi Investment Authority and Mubadala Investment Company have expanded investments across artificial intelligence, semiconductors, renewable energy, mobility, healthcare and digital infrastructure, alongside Saudi Arabia’s Public Investment Fund and other Gulf sovereign entities. "State-owned sovereign wealth funds are now managing assets estimated at nearly $2.9 trillion, highlighting the growing global influence of sovereign capital - particularly from the Gulf region and the UAE - across sectors including technology, artificial intelligence, infrastructure, renewable energy, logistics, healthcare, and advanced manufacturing," the report states. The shift described in the report marks a transformation from passive reserve managers into strategic, long-horizon investors. "This transformation has positioned sovereign funds among the world’s most powerful long-term capital providers, particularly during periods of market volatility and tightening global liquidity," Techno Time noted, reflecting a broader industry view that these vehicles now wield direct influence on international mergers and acquisitions, mega infrastructure projects and technology ecosystems. UAE sovereign funds have been particularly active in targeting future-facing industries. Mubadala Investment Company and the Abu Dhabi Investment Authority (ADIA) are cited as stepping up commitments in areas that include green hydrogen, smart mobility, climate technologies, aerospace, fintech, cybersecurity and AI-driven industries. Analysts quoted in the report point to a competitive dynamic among Gulf funds: "Analysts say Gulf sovereign wealth funds are increasingly competing for leadership in sectors tied to the next phase of the global economy, particularly AI infrastructure, advanced manufacturing, clean energy, robotics, and cloud computing." Unlike many traditional institutional investors, sovereign investment arms typically operate with longer investment horizons and greater flexibility, enabling them to pursue strategic stakes in data centers, semiconductor manufacturing, renewable-energy projects and advanced industrial technologies that national policymakers view as central to future competitiveness. The Techno Time article also highlights that many sovereign entities are integrating sustainability-focused strategies into their portfolios as governments intensify commitments to decarbonization and energy transition. Beyond the Gulf, the apparent success of UAE models is encouraging other emerging economies to establish or expand state-backed investment vehicles. Governments are increasingly treating sovereign funds not only as financial managers of surplus revenues, but as instruments to attract foreign direct investment, accelerate industrial development and finance national development priorities. Outlook Industry observers expect sovereign wealth funds—led by major Gulf and UAE institutions—to continue expanding their influence through the coming decade as geopolitical shifts, technological disruption and global energy transformation reshape international investment priorities. The report suggests this expansion will reshape international capital markets, with sovereign investors playing a larger role in financing large-scale infrastructure, corporate restructuring and cross-border acquisitions. Reported assets managed by state sovereign funds: $2.9 trillion Key UAE players cited: Abu Dhabi Investment Authority, Mubadala Investment Company Regional comparator: Saudi Arabia’s Public Investment Fund Target sectors: AI, semiconductors, renewable energy, green hydrogen, mobility, healthcare, aerospace, fintech, cybersecurity, advanced manufacturing --- ## UAE races to lead global AI economy with sovereign compute and 2031 digital targets URL: https://startupsmena.com/uae-races-to-lead-global-ai-economy-with-sovereign-compute-and-2031-digital-targets-khaleej-times-mphzp4rr Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** The UAE is pouring billions into AI, data centres and fintech to pivot from oil to a sovereign digital economy, emerging as a global innovation hub and AI bridge for the Global South Overview The UAE is pouring billions into artificial intelligence, sovereign compute and fintech as it races to pivot from oil to a digital economy, aiming to raise the digital sector’s share of national GDP from close to 12% today to more than 20% by 2031. The strategy combines large-scale investment — including Microsoft’s $1.5 billion injection into Abu Dhabi’s G42 in 2024 — with national policy such as the UAE National Strategy for Artificial Intelligence 2031 and projects that promise multi-gigawatt compute capacity and fast deployment of next‑generation hardware. Direct quote “Geography, capital, relatively neutral geopolitical positioning and established trade relationships across Africa and South Asia give the UAE structural advantages that few Western nations can easily replicate as a Global South AI bridge,” Vincent Charles, Professor of Management Science at Queen’s University Belfast, said. Context and details The UAE is betting on sovereign infrastructure and partnerships to become a global AI hub. Abu Dhabi’s Stargate UAE, developed by G42 alongside OpenAI, Oracle, Nvidia, SoftBank Group and Cisco, is planned as a five‑gigawatt AI compute cluster and is part of a broader UAE‑US AI Campus. The first 200‑megawatt phase of that hub is expected to be operational before the end of this year. Nvidia’s next‑generation Blackwell Ultra data‑centre GPUs have already arrived in the UAE following Washington’s authorisation of exports. Authorities point to strong headline projections: PwC estimates artificial intelligence could add nearly $96 billion to the UAE economy by 2030 — almost 14% of GDP — while the IMF expects continued outperformance driven by diversification and non‑oil growth. The UAE has also produced notable domestic technology: the Falcon AI models are cited in the industry as among the leading open‑source large language models. Beyond Abu Dhabi’s compute build‑out, Dubai is intensifying its role as an entrepreneurship hub. Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy, has framed national ambitions to double the contribution of the digital economy to non‑oil GDP by 2031. The Dubai Chamber of Digital Economy reported 582 startups were established or expanded in Dubai during the first nine months of 2025, with international companies accounting for 70% and AI firms representing 21% of new digital ventures. The UAE is also positioning itself as a provider of AI infrastructure for the Global South. The government launched a $1 billion initiative to expand AI infrastructure across Africa, while G42 and Microsoft committed another $1 billion to develop AI infrastructure in Kenya, including a geothermal‑powered data centre and Swahili‑English AI models. Research cited by the UAE shows more than 70% of the working‑age population regularly uses AI tools, TRG Datacentres ranks the country second only to the United States in raw AI capability with more than 188,000 AI chips and 6.4 gigawatts of total power capacity, and the Microsoft AI Economy Institute records the UAE’s high AI adoption rate. Outlook With a mix of sovereign compute projects, major private‑sector capital and regulatory hubs such as DIFC and ADGM creating fintech and digital‑asset frameworks, the UAE aims to secure the infrastructure, chips, power and regulatory trust that analysts say will determine leadership in the AI economy. The near‑term milestones — operational phases of Stargate UAE, broader rollouts of advanced GPUs and overseas AI infrastructure commitments — will test whether the Emirates can convert rapid investment into sustained global influence and the economic gains projected through 2030 and 2031. --- ## 11 investors shaping Africa’s startup ecosystem in 2026 URL: https://startupsmena.com/11-investors-shaping-africas-startup-ecosystem-in-2026-mphv9teu Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Below are 11 investors who have repeatedly written cheques and built documented portfolios. They are based across Nigeria, Egypt, Morocco, Cameroon, Senegal, and the African diaspora. Soyombo began an Eleven investors — based across Nigeria, Egypt, Morocco, Cameroon, Senegal and the African diaspora — are emerging as consistent deployers of capital and builders of documented portfolios in Africa’s startup ecosystem in 2026, according to a roundup compiled from Condia. The continent now counts more than 5,000 angel investors and 75 active networks, and angel groups that responded to the African Business Angel Network’s survey deployed $4.4 million across Africa in 2025. Over 90% of individual angels wrote cheques below $25,000 in 2025, up from 76% in 2024. “The first in a series of upcoming investments,” said Salah Abou Elmagd after leading his first recorded startup round in January 2026 into Egyptian edtech Business for Teens, signalling plans for further activity from new angel players. Who’s deploying capital and why it matters Olumide Soyombo began angel investing in 2014 and has backed over 100 startups, including Paystack (acquired by Stripe for over $200 million in 2020), PiggyVest, Mono (acquired by Flutterwave in 2026), Brass, Trove, Lemonade Finance (now Lemfi), and TeamApt (now Moniepoint). He co-founded Voltron Capital, a pan‑African VC with ticket sizes from $20,000 to $100,000; his most recent recorded investment was in Gumption in March 2025. Salah Abou Elmagd is a training and sales professional whose January 2026 lead into Business for Teens was his first recorded startup investment and, he says, “the first in a series of upcoming investments.” Ilan Benhaim , co‑founder of Veepee (formerly Vente‑Privée, €3.7 billion revenue), invests through IBP Participations and IBP Africa out of Casablanca; IBP has backed more than 25 startups globally and at least six Moroccan startups such as Pip Pip Yalah, Nadari and Cuimer, and participated in Charikaty in 2025. Tomi Davies , president of ABAN, co‑founded the Lagos Angel Network and operates TVC Labs. His personal portfolio spans roughly 32 startups including Trove, Big Cabal Media and Semicolon Africa; his 2001 investment in Strika Entertainment returned 20x on exit. Rebecca Enonchong , CEO of AppsTech and vice president of ABAN, invests across tech, agritech and digital infrastructure with a focus on Francophone and rural Africa beyond the Nigeria‑Egypt‑Kenya‑South Africa cluster. Temi Marcella , a former Goldman Sachs analyst and Regional Lead for the $1 billion Evercare healthcare platform, co‑founded Kairos Angels and partnered with MAGIC Fund; her investments include Vendease, Nestcoin, Bamboo, Orda, Bumpa and Moni. Eghosa Omoigui founded EchoVC Partners; portfolio names include Hotels.ng, Lifebank, Migo and Cars45. In 2025 EchoVC invested in 14 climate startups through a $3 million fund and is raising another $3 million plus a vehicle up to $30 million for climate and adjacent sectors. Fatoumata Bâ founded Janngo Capital; its first fund was $10 million and a second closed at $78 million in 2024 with LPs including the European Investment Bank and African Development Bank. Janngo commits 50% of investments to companies founded or co‑founded by women; 56% of its 21 portfolio companies are female‑founded or led. Kola Aina founded Ventures Platform in Abuja and manages a $40 million pan‑African fund, with deal sizes exceeding $1 million at pre‑seed and seed; portfolio highlights include Moniepoint and PiggyVest. Eloho Omame is a Partner at TLcom Capital (managing about $250 million across two funds), sits on multiple boards and co‑founded FirstCheck Africa, a pre‑seed fund for female‑led startups. Isaac Ewaleifoh began angel investing in 2018, holds a portfolio of 100 deals with 10 exits (seven via secondary sales), sits on ABAN’s board and mentors at the Nasdaq Entrepreneurial Centre. Outlook The presence of seasoned angels and early‑stage VCs — from Soyombo’s Voltron Capital and EchoVC’s climate vehicles to Janngo’s $78 million fund — suggests continued diversification of capital sources across the continent. The African diaspora already accounts for 33% of angel investors and 60% of tracked angel investment over the past decade, a factor likely to continue shaping deal flow. With more than 5,000 angels connected through ABAN’s 75+ networks and a steady stream of funds targeting seed to Series A, the cohort of 11 investors highlights where repeated cheque‑writing and strategic exits are concentrating momentum in 2026. --- ## JCIF Launches USD 70.5M Manara Ventures Fund to Back Jordanian Tech Startups URL: https://startupsmena.com/jcif-launches-usd-705m-manara-ventures-fund-to-back-jordanian-tech-startups-waya-mphv6laa Date: 2026-05-23 Category: funding Tags: jordan, uae, fintech, saas, funding, expansion, manara-ventures, jcif, lunate, adgm **Summary:** Jordan Capital and Investment Fund launched Manara Ventures, a USD 70.5M Sharia-compliant ADGM-registered growth-stage fund to back more than 20 Jordanian tech and tech-enabled startups (fintech, SaaS, media, digital infrastructure) with ticket sizes of roughly $750k–$3M. Jordan Capital and Investment Fund (JCIF) has launched Manara Ventures, a USD 70.5 million (JOD 50 million) investment vehicle aimed at plugging a persistent funding gap for Jordanian technology and technology‑enabled startups seeking regional scale. The fund, registered in Abu Dhabi Global Market (ADGM) as a fully Sharia‑compliant investment platform and supported by regional institutional investors including Abu Dhabi‑based Lunate, will target growth‑stage companies with regional expansion ambitions. "Jordan officially launched Manara Ventures, a USD 70.5 million (JOD 50M) investment fund." Fund structure and strategy "The fund plans to invest in more than 20 Jordanian growth-stage companies operating in technology or tech-enabled sectors," the announcement said, and it will reserve additional capital to support up to 15 high‑performing companies pursuing regional expansion. Manara Ventures is designed as a growth‑stage vehicle intended to address one of Jordan’s ecosystem bottlenecks: access to late early‑stage and growth capital capable of helping startups scale beyond the domestic market. Investment tickets are expected to range between USD 750,000 and USD 3 million, inclusive of follow‑on rounds. Size: USD 70.5 million (JOD 50 million) Registration: Abu Dhabi Global Market (ADGM), Sharia‑compliant platform Anchor/support: regional institutional investors, including Lunate (Abu Dhabi) Target: more than 20 Jordanian growth‑stage companies, plus reserve capital for up to 15 high performers Ticket size: USD 750,000 to USD 3 million (including follow‑ons) Sector emphasis: technology and tech‑enabled businesses (fintech, SaaS, media, digital infrastructure among areas of founder depth) Context and regional significance The launch reflects a broader regional trend of Gulf capital moving into MENA venture ecosystems through structured institutional vehicles rather than isolated checks. For Jordanian founders, a dedicated growth‑stage fund anchored by JCIF and registered in ADGM could reduce pressure to relocate operations abroad in order to access regional expansion capital. The partnership with Abu Dhabi‑based Lunate and the ADGM registration also underscores how Gulf financial centers are increasingly integrated with Levant ecosystems via ADGM‑based fund structures. Manara’s Sharia‑compliant setup is intended to widen the investor base across the region. Outlook The immediate questions for Manara Ventures will be executional: where the fund deploys its initial investments, which sectors it prioritizes, and whether it can nurture Jordanian companies into regional category leaders while keeping them anchored in the local innovation ecosystem. Observers will watch for early portfolio companies in fintech, SaaS, media and digital infrastructure—areas where Jordan already has established founder depth—and for evidence that the fund’s follow‑on reserves effectively support cross‑border scaling. If Manara can deliver meaningful follow‑on capital and regional partnerships, it could materially expand the funding pipeline for Jordanian startups aiming to scale across MENA without abandoning their base of operations. --- ## Toyota Egypt Group enters electric vehicle market with launch of bZ4X and Lexus RZ URL: https://startupsmena.com/toyota-egypt-group-enters-electric-vehicle-market-with-launch-of-bz4x-and-lexus-rz-mphqzdvr Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Both the Toyota bZ4X and Lexus RZ are built on the global e-TNGA platform and feature battery systems manufactured in Japan. Toyota Egypt Group has formally entered Egypt’s electric vehicle market with the launch of two battery-electric models — the Toyota bZ4X and the Lexus RZ — unveiled at an event held at the Grand Egyptian Museum. Both cars are built on Toyota’s global e‑TNGA platform and use battery packs manufactured in Japan, marking the automaker’s first foray into the local EV segment after 45 years of domestic operations and aligning with the state’s emissions‑reduction targets. “We feel great pride in announcing the official entry of our Group into the electric vehicle sector in Egypt, through two models that represent the pinnacle of development from Toyota and Lexus,” said Ahmed Monsef, CEO of Toyota Egypt Group. “What distinguishes this launch is its full reliance on authentic Japanese ‘Know‑How’, which is the cornerstone that makes our electric vehicles a unique model in precision, quality, and technological innovation.” Models and specifications Toyota presented detailed specs for both models, including battery sizes, performance figures and charging times: Toyota bZ4X — Offered in Sport FWD and Premier AWD grades, the bZ4X uses a 73 kWh battery developed in Japan through a Toyota‑Panasonic collaboration. The model supports DC fast charging in about 30 minutes and charges from 20% to 80% in roughly four and a half hours. WLTP range is quoted at up to 567 km. The Sport FWD is equipped with a motor producing 224 HP and 268.6 Nm, with 0–100 km/h in 7.4 seconds and 18‑inch wheels. The Premier AWD delivers 343 HP total (front motor 268.6 Nm, rear motor 169.8 Nm), 0–100 km/h in 5.1 seconds and rides on 20‑inch wheels. The bZ4X includes X‑MODE for unpaved roads with Multi‑Terrain Select and GRIP Control Mode. Lexus RZ — Available as the Executive e350 (FWD) and F Sport e550 (AWD), the RZ is powered by a 77 kWh Japanese battery. AC charging supports up to 22 kW (enabling home charging in about three hours), while DC fast charging is around 30 minutes. The Executive e350 produces 224 HP, 0–100 km/h in 7.5 seconds, and a WLTP range of 508 km. The F Sport e550 delivers 408 HP, 0–100 km/h in 4.4 seconds, and a WLTP range of 450 km. The F Sport features Steer‑by‑Wire with a Yoke‑style steering wheel, Interactive Manual Drive, DIRECT4 torque distribution, 20‑inch wheels and wider rear tyres. Interior highlights include leather and Alcantara, Dynamic Ambient Light, a 14‑inch main display and a 3D Digital Panoramic Monitor System. Safety, warranty and service Safety systems were emphasised: the bZ4X carries Toyota Safety Sense 3.0, while the Lexus RZ is fitted with Lexus Safety Sense 3+ including Lane Tracing Assist, Dynamic Radar Cruise Control, Adaptive High Beam System, Blind Spot Monitor, Safe Exit Assist, Rear Cross Traffic Alert and Pre‑Collision System. Toyota Egypt Group guarantees battery efficiency will remain at no less than 70% after 10 years. Warranty: 8 years or 160,000 km on battery, electric motors and main power unit; additional 5 years or 150,000 km on remaining vehicle components. Equipment and charging: vehicles include a tyre repair kit (air compressor and emergency sealant), Type 2 and Type 1 chargers, and a home charger unit is being offered for a limited time. Diplomatic note: Fumio Iwai, Ambassador of Japan to Egypt, said the launch “stands as a symbol embodying this intersection between the greatness of history and the vision of the future,” highlighting Japan‑Egypt cooperation on technology, industry and sustainability. Outlook: Toyota Egypt Group’s debut of the bZ4X and Lexus RZ positions the company as a new contender in Egypt’s emerging EV market, combining Japanese battery supply and established platform engineering with local aftersales guarantees. The launches dovetail with official emissions goals and signal a strategic move by a legacy automaker — after 45 years in Egypt — to offer electrified mobility and to expand service and charging capabilities in the market. --- ## Egypt’s biggest property developer joins Saudi Arabia’s entertainment boom in new tourism push URL: https://startupsmena.com/egypts-biggest-property-developer-joins-saudi-arabias-entertainment-boom-in-new-tourism-push-busines-mphqwqxh Date: 2026-05-23 Category: tech Tags: mena, startup **Summary:** Egyptian billionaire Hisham Talaat Moustafa has partnered Saudi Arabia’s Sela to launch a major entertainment and live events platform in Egypt as Gulf investment reshapes tourism and culture in the r Egyptian billionaire Hisham Talaat Moustafa has partnered with Saudi Arabia’s entertainment firm Sela to launch a large-scale entertainment and live events platform in Egypt, the companies announced on May 21. The venture will cover concerts, festivals, sports events, theatre productions and tourism-driven experiences, with Sela leading development and operations while Talaat Moustafa Group (TMG) supplies infrastructure across its residential communities, hotels and tourism assets. A flagship initiative called “The Corridor” is described as a cross‑border platform connecting Saudi Arabia and Egypt with a curated calendar of cultural and live entertainment events. “Our collaboration with Sela will drive a qualitative shift across entertainment, culture, arts, and sports in Egypt,” Moustafa said. Deal mechanics and strategic aims Under the agreement Sela will manage venue operations, concerts, festivals, comedy and theatre shows, and large public entertainment projects. TMG will provide the physical backbone through its integrated cities and hospitality portfolio. The partnership was announced in the presence of Turki Alalshikh, a central figure in Saudi Arabia’s entertainment expansion under Vision 2030. Flagship project: “The Corridor,” intended to connect Saudi and Egyptian live entertainment calendars. Sela’s role: development and operation of live experiences and venue management. TMG’s role: supply venues, hotels and residential communities as infrastructure for events. Background on the partners TMG has built major integrated cities including Madinaty, Al Rehab and Noor City, and is developing the SouthMED coastal project on Egypt’s North West Coast. The company controls 16 hotels under global luxury brands such as Four Seasons, Marriott, Kempinski and Mandarin Oriental, together holding nearly 5,000 rooms and suites and drawing roughly 1.5 million visitors a year. Sela has become one of Saudi Arabia’s largest entertainment operators, developing destinations such as Boulevard City, Boulevard World, Via Riyadh and the Jeddah Superdome, and expanding into international markets including London and Las Vegas. The Egypt expansion marks another step in Saudi firms exporting a Saudi-style entertainment model across the region. Financial context and company performance TMG has moved to diversify revenue beyond property sales into recurring entertainment and tourism income. The group recorded contractual sales of $8 billion in 2025 and saw net profit jump 43% to $381 million that year. In the first quarter of 2026, profit rose 24% year-on-year to EGP 5.5 billion (about $110 million), supported by demand across property and hospitality businesses. Forbes Middle East ranked TMG as Egypt’s top listed real estate developer for 2026 by market capitalisation. Moustafa holds a 43.16% stake in TMG Holding and has an estimated net worth of about $1.4 billion. Outlook The partnership signals a strategic pivot for TMG from pure property development toward lifestyle, tourism and consumer experiences, mirroring a broader shift among major Middle Eastern developers. For Egypt, the deal arrives as authorities seek tourism revenue and foreign investment amid inflationary and currency pressures. For Saudi Arabia, Sela’s expansion underscores ongoing efforts to build economic and cultural influence across the Middle East through sports, music and live events. --- ## ACHR Stock Draws Traders As UAE, FAA Milestones Stack Up URL: https://startupsmena.com/achr-stock-draws-traders-as-uae-faa-milestones-stack-up-stockstotrade-mphftmb9 Date: 2026-05-22 Category: tech Tags: **Summary:** That sounds technical, but for ... with Abu Dhabi Aviation. At the same time, ACHR is pushing hard in the U.S. Archer Aviation is the first eVTOL manufacturer to finish Phase 3 of 4 in the FAA Type Ce Archer Aviation Inc. shares ticked higher on May 22, 2026, as a string of regulatory and institutional developments pushed traders into the eVTOL developer. The stock [NYSE: ACHR] was trading up about 3.44% and has climbed from mid‑$5 closes in late April to roughly $6.36 as of the update, after the company announced that its Midnight eVTOL entered the UAE General Civil Aviation Authority’s Restricted Type Certificate (RTC) program and that Archer is the first eVTOL manufacturer to clear Phase 3 of 4 in the FAA Type Certification process. Institutional interest also rose after ARK Investment purchased 281,000 ACHR shares, even as Canaccord trimmed its price target from $13 to $12 while maintaining a Buy rating. "A consistent trading routine beats sporadic action every time. Show up daily, and you’ll start to see the patterns others miss." Context and financial detail The regulatory headlines come amid a still‑precommercial financial profile. Archer reported Q1 2026 revenue of $1.6 million, a net loss of about $217.7 million and EBITDA of approximately -$226.2 million. The quarter showed heavy investment in product development, with $171.7 million spent on research and development and free cash flow of roughly -$181.7 million. Cash and short‑term investments: about $1.78 billion (cash alone ~$951.1 million) Total liabilities: ~$243.4 million; common stock equity: ~$2.08 billion EPS widened to a loss of $0.28 per share versus $0.17 a year earlier Those figures underscore a high‑burn, high‑optionality story: minimal current revenue but clear runway for certification‑driven commercialization. StocksToTrade attributed recent price action to the shift from "science project" to a regulated aircraft with near‑term service pathways, notably the RTC route that sets up limited air taxi operations in Abu Dhabi with Abu Dhabi Aviation. The company’s FAA progress — completion of Phase 3 of 4 of the Type Certification process — was singled out as a competitive advantage in a sector where the first to navigate regulatory approval often secures early launch customers and media attention. Market reaction and investor behavior Market participants showed that they were trading catalysts more than the income statement: ACHR shares rose despite a modest EPS and revenue miss in Q1. After the report, shares advanced about 4% in after‑hours trading, a signal that investors were rewarding certification momentum, additional flight testing, and new initiatives in defense and AI software rather than current sales. High‑profile accumulation also drew attention. ARK Investment’s purchase of 281,000 shares was cited as evidence of renewed institutional appetite for Archer’s speculative growth story, while active Form 4 filings around the name suggested ongoing position reshuffling among insiders and traders. Outlook Archer’s path forward is catalyst‑driven. Near‑term triggers that could move the stock include further FAA certification milestones, updates on the UAE RTC process with Abu Dhabi Aviation, progress on flight testing, and any defense or AI software contracts. But risks remain material: certification delays, slower commercialization than anticipated, or funding shortfalls could quickly reverse gains for this speculative aerospace name. As StocksToTrade trainers note, disciplined execution at the desk matters: "A consistent trading routine beats sporadic action every time. Show up daily, and you’ll start to see the patterns others miss." Traders and investors watching ACHR will be balancing that operational progress against heavy cash burn and execution risk as the company attempts to convert regulatory milestones into paying customers. --- ## Dubai Chambers partners with Keeta to boost SME growth URL: https://startupsmena.com/dubai-chambers-partners-with-keeta-to-boost-sme-growth-mphfs4ql Date: 2026-05-22 Category: tech Tags: **Summary:** Dubai Chambers signed an MoU with Keeta to support the growth and market reach of small and medium-sized enterprises (SMEs) across Dubai. Dubai Chambers and food-tech platform Keeta signed a Memorandum of Understanding on 21 May 2026 to help small and medium-sized enterprises (SMEs) in Dubai expand market access and strengthen operations through technology-driven solutions, commercial support and business development initiatives. The partnership will give Dubai Chambers member companies tailored benefits on Keeta, including preferential commercial incentives, streamlined onboarding, greater in-app visibility and specialised training focused on menu optimisation, pricing strategies and delivery operations. “We are committed to empowering SMEs and providing them with the tools and opportunities they need to grow and enhance their competitiveness within a fast-evolving business environment,” said Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers. “Through our collaboration with Keeta, we aim to support entrepreneurs in expanding their market presence, enhancing customer engagement, and accelerating the sustainable growth of their businesses.” Partnership details Target group: Dubai Chambers member SMEs across the food and delivery segments that operate on or can join the Keeta platform. Platform benefits: Preferential commercial incentives and streamlined onboarding to reduce time-to-market for participating businesses. Visibility and branding: Enhanced in-app visibility and a dedicated Dubai Chambers SME badge to improve brand recognition and encourage customer discovery of local and emerging concepts. Training and operations: Specialised programmes covering menu optimisation, pricing strategy development and delivery operations to strengthen unit economics and customer experience. Lucas Xie, General Manager of Keeta UAE, described technology as central to the initiative: “At Keeta, we believe technology can play an important role in helping entrepreneurs adapt and grow in today’s evolving landscape. Through this agreement with Dubai Chambers, we are proud to connect homegrown brands with greater exposure, operational guidance, and scalable opportunities that contribute to long-term success while connecting customers with the businesses and experiences they value most.” The MoU formalises a commercial and capacity-building channel between a major Dubai business support institution and a growing digital marketplace. The introduction of the Dubai Chambers SME badge on Keeta is intended to create a visible marker for consumers seeking local or emerging food concepts, while the operational workshops aim to address common small business challenges such as menu engineering and delivery efficiency. Outlook Dubai Chambers and Keeta say the collaboration aligns with Dubai’s broader priorities to support entrepreneurship and digital transformation, positioning SMEs to be more competitive and visible in the city’s retail and delivery ecosystems. If uptake by member companies proves strong, the partnership could increase discovery for homegrown brands on Keeta and provide measurable improvements in onboarding speed and operational performance for participating SMEs. Both organisations will likely track adoption, visibility metrics for the SME badge, and outcomes from the training programmes to assess the initiative’s impact over the coming months. --- ## Qatar Launches $30 Million Deep-Tech Venture Fund URL: https://startupsmena.com/qatar-launches-30-million-deep-tech-venture-fund-crowdfund-insider-mphbn0gn Date: 2026-05-22 Category: tech Tags: **Summary:** The fund adds to a wave of state-backed investment vehicles across the Gulf aimed at attracting startups and venture capital firms amid growing competition in AI, climate technology, and advanced indu Qatar Science & Technology Park (QSTP), a member of Qatar Foundation, has launched a $30 million Tech Venture Fund to back early-stage deep-tech startups headquartered in Qatar that develop technology with measurable social or climate impact. The fund, announced this week, will target companies working in AI, machine learning, robotics, biotechnology, advanced materials and clean technology, and will co-invest alongside local, regional and global venture capital firms to expand access to capital and expertise. "the fund is intended to back deep-tech startups with an impact lens, focused on technologies that can support inclusive and sustainable growth," said Rama Chakaki, president of QSTP. Fund scope and partners Size: $30 million. Manager: Qatar Science & Technology Park (QSTP), part of Qatar Foundation. Geography: Portfolio companies must be headquartered in Qatar, with core leadership teams and operations based locally. Target sectors: AI, machine learning, robotics, biotechnology, advanced materials, clean technology; also education technology, health technology, agriculture technology, property technology, smart infrastructure, aviation technology and mobility. Initial co-investors: Global Ventures, Golden Gate Ventures, White Star Capital, VentureSouq and Builders VC. Additional co-investment partners will be announced in the coming weeks. QSTP said the fund will support founders developing technologies that combine commercial potential with the ability to address regional and global challenges. The vehicle is positioned to deepen Qatar's domestic venture ecosystem and to serve as a base for technology companies seeking regional and global expansion. By requiring companies to be headquartered in Qatar with leadership and operations localised, QSTP aims to build domestic capacity in high‑tech industries. The Tech Venture Fund's co-investment strategy is intended to link Qatar-based startups with broader investment networks: QSTP said its initial partners bring networks across the Middle East and North Africa, Southeast Asia, North America, Europe and broader Asia. The partnership model is likely to give early-stage founders wider pools of capital and sector expertise than would be available from a single sovereign-backed vehicle. The launch adds to a wave of state-backed investment vehicles across the Gulf aimed at attracting startups and venture capital firms amid growing competition in AI, climate technology and advanced industries. For venture investors, the initiative underscores the growing role of state-backed capital in early-stage deep technology — a segment that often requires longer development timelines and larger funding commitments than software-led startups. QSTP said the initiative is aligned with Qatar’s Third National Development Strategy, which emphasises economic diversification, research, innovation and sustainability. The authority also indicated it will name further co-investment partners in the coming weeks, signalling an intent to expand the fund's reach and syndication opportunities as it begins deploying capital. --- ## Qatar Investment Authority and Spain’s COFIDES launch $348m joint investment fund URL: https://startupsmena.com/qatar-investment-authority-and-spains-cofides-launch-348m-joint-investment-fund-arab-news-mphbp24p Date: 2026-05-22 Category: funding Tags: QIA, COFIDES, Ispania Growth Fund, Portobello Capital, Spain, SMEs, green transition, digital transformation **Summary:** QIA and Spain’s COFIDES have launched the €300 million Ispania Growth Fund, managed by Portobello Capital, to back Spanish SMEs focused on green transition, digital transformation and technological innovation. COFIDES will contribute via its FOCO co-investment vehicle to attract international capital into strategic Spanish sectors. Qatar Investment Authority (QIA) and Spain’s state-owned development finance company COFIDES have agreed to establish a €300 million ($327 million) joint investment vehicle, the Ispania Growth Fund, to back strategic Spanish projects in green transition, digital transformation and technological innovation. The fund will be managed by Spanish private equity firm Portobello Capital and will target small and medium-sized enterprises in high-growth sectors with the aim of developing the next generation of national companies. “Our partnership with COFIDES seeks to support companies at the forefront of Spain’s economic transformation and is a testament of QIA’s strong belief in the strength of Spain’s economy,” said Mohammed Saif Al-Sowaidi, CEO of QIA. “Thanks to this deeper and more diversified partnership, we will work closely with COFIDES to support the innovative, technology-driven sectors that will shape Spain’s economy for years to come.” Details of the agreement According to a QIA statement, the launch of the Ispania Growth Fund marks a significant milestone in the relationship between the two institutions and reflects a shared commitment to sustainable economic development and innovation in Spain. COFIDES, described in its corporate profile as a public-private company that offers medium and long-term financing linked to public policy goals, will contribute to the joint structure through its FOCO co-investment fund — a public investment vehicle designed to attract international capital into strategic sectors that underpin Spain’s future competitiveness. COFIDES Chair and CEO Angela Perez said the initiative deepens the institution’s existing alliance with QIA and represents “a major milestone in our co-investment strategy with leading international partners.” She added the alliance highlights the success of the FOCO fund as a tool for attracting global investors to support the expansion of high-potential Spanish companies. Portobello Capital’s founding partner Inigo Sanchez-Asiain welcomed the collaboration, saying: “This initiative reflects a shared commitment to strengthening Spain’s economic transformation by supporting innovative and high-potential companies.” Context and expected impact Fund size and management: €300 million ($327 million); managed by Portobello Capital. Target: Spanish SMEs in high-growth sectors focused on green transition, digital transformation and technological innovation. COFIDES contribution mechanism: via the FOCO co-investment fund to attract international capital into strategic sectors. Bilateral backdrop: bilateral trade between Qatar and Spain reached approximately $1.5 billion in 2024, according to Javier Carbajosa, Spain’s former ambassador to Qatar. Officials said investments from the Ispania Growth Fund are expected to create jobs, accelerate regional development and strengthen the resilience of Spain’s SME sector, aligning with national priorities. The fund follows recent moves by QIA to deepen partnerships in Europe and reflects COFIDES’ strategy of leveraging co-investment vehicles to draw external capital into domestic growth opportunities. Looking ahead, the partners plan to deploy capital selectively across technology-driven and sustainability-focused enterprises, positioning the Ispania Growth Fund as a vehicle for scaling companies that could shape Spain’s economic transformation over the coming years. --- ## QU, HyperThink Systems honour Qatari innovators URL: https://startupsmena.com/qu-hyperthink-systems-honour-qatari-innovators-mphbrsg8 Date: 2026-05-22 Category: tech Tags: **Summary:** Qatar University (QU), through ... and startups contributing to Qatar’s digital economy and innovation ecosystem. The ceremony brought together industry leaders, innovators, investors, and policymaker Qatar University (QU), through its Centre for Entrepreneurship at the College of Business and Economics and in partnership with HyperThink Systems, on May 20, 2026 concluded the Qatar Entrepreneurship Awards (QEA) Award Day to recognise entrepreneurs and startups contributing to Qatar’s digital economy and innovation ecosystem. The ceremony convened industry leaders, innovators, investors and policymakers to celebrate achievements across fintech, healthtech, e‑commerce, sustainability and entrepreneurial excellence, while promoting ICT and digital entrepreneurship in support of Qatar National Vision 2030. "Each year, we see promising ideas and ventures that reflect the creativity, resilience, and ambition shaping Qatar’s future economy. We are proud to support innovators who are developing impactful solutions and contributing to a thriving knowledge-based society,” said Dr Khalid al-Hashimi, director of the Centre for Entrepreneurship. Event context and organisers The awards were organised by QU’s Centre for Entrepreneurship in collaboration with HyperThink Systems and positioned as a national platform to identify and support high‑potential ventures, strengthen collaboration across the startup ecosystem, and inspire the next generation of entrepreneurs. Awdesh Chetal, CEO of HyperThink Systems, framed the winners as representatives of Qatar’s AI-era ambitions: "As CEO of HyperThink Systems, I’m inspired by the bold talent at this year’s Entrepreneurship Awards. Qatar’s startups aren’t just adapting to the AI era; they’re shaping it.” Winners and recognitions The ceremony recognised winners across multiple categories for their contributions to innovation and digital transformation in the country. Maisoun Sewailem, senior pre-incubation specialist at the Centre for Entrepreneurship and project lead for the Qatar Entrepreneurship Awards, emphasised early-stage support: "Young people bring boundless creativity and fresh perspectives; many of their ideas have the potential to become tomorrow’s successful startups. By recognising and supporting school-aged innovators early, we support the next generation of entrepreneurs and strengthen Qatar’s future as a knowledge-driven, digitally led economy." Delivery Startup of the Year (E‑Commerce): Shipbee HealthTech Startup of the Year: Eshfaa DeepTech Startup of the Year: RFxAI Sustainability Startup of the Year: Revio Technologies FinTech Startup of the Year: ALT DRX EduTech Startup of the Year: MuallemI Social Entrepreneur of the Year: Bevol Startup of the Year: Avey Individual and ecosystem awards Youth Entrepreneur of the Year: Mohab Mohamed Kamal, founder and CEO of ConnectED Woman Entrepreneur of the Year: Thuraya Nasser al-Mulla, founder and CEO of Receipts Entrepreneur of the Year: Ghanim al-Sulaiti, founder and CEO of Enbat Group Ecosystem Enablers Award recipients: Marcel Dridje, Startup Ecosystem advisor, European Business Angel Network Michael Lints, founding partner MENA, Golden Gate Ventures Dr Ibrahim al-Sulaiti, president, Young Entrepreneurs Club Hamad Mubarak al-Hajri, founder and CEO, Snoonu HE Fahad Bin Mohammed al-Attiyah, founder and CEO, Caravane Earth Foundation The awards day doubled as a networking and knowledge‑exchange platform for startups, investors and industry stakeholders, reinforcing ties across Qatar’s entrepreneurship ecosystem. Organisers framed the QEA as contributing to human, economic and sustainable development goals under Qatar National Vision 2030 by inspiring young innovators and supporting solutions that address national priorities. Looking ahead, QU and HyperThink Systems signalled continued focus on mentoring, pre‑incubation and cross‑sector collaboration to help awardees scale and attract investment, with organisers stressing the importance of sustained support to turn early ideas into commercially viable and socially impactful ventures. --- ## Binance Bahrain Reaffirms Security Credentials with Renewed ISO Certifications URL: https://startupsmena.com/binance-bahrain-reaffirms-security-credentials-with-renewed-iso-certifications-the-fintech-times-mphbkbj1 Date: 2026-05-22 Category: tech Tags: **Summary:** Binance Bahrain renews ISO/IEC 27001 and 27701 certifications, reinforcing its commitment to information security and data privacy in Bahrain’s digital asset ecosystem. Binance Bahrain has renewed its ISO/IEC 27001 and ISO/IEC 27701 certifications, reaffirming the regulated crypto-asset platform’s commitment to information security and data privacy across its operations in the Kingdom of Bahrain. The renewal, conducted by A-LIGN, follows a comprehensive compliance audit and underscores Binance Bahrain’s efforts to maintain internationally recognised controls over user data as the digital asset industry faces rising scrutiny. “As the crypto asset ecosystem continues to evolve, trust remains our most valuable currency,” said Abdulla Abusaif, CISO of Binance Bahrain. “These certifications reinforce our responsibility to our users, regulators, and partners, and underscore our dedication to building a secure and transparent financial future in Bahrain and beyond.” Audit, accreditation and standards The certification process was carried out by A-LIGN, described in the company announcement as “a technology-enabled security and compliance partner serving more than 4,000 organizations globally.” A-LIGN is accredited by both the ANSI National Accreditation Board (ANAB) and the United Kingdom Accreditation Service (UKAS), and provided the audit that validated Binance Bahrain’s management systems for controlling and protecting user data. ISO/IEC 27001: a globally recognised standard for information security management systems (ISMS). ISO/IEC 27701: an extension of 27001 that covers privacy information management systems (PIMS). Steve Simmons, COO of A-LIGN, congratulated Binance Bahrain on the renewal, calling the certifications a “widely recognized signal of trust and security.” He stressed the relevance of thorough, expert-driven audits and high-quality final reports in today’s cybersecurity environment. Context and operational implications Binance Bahrain is positioned as part of the wider Binance ecosystem, which the company notes supports more than 300 million people in over 100 countries. For a regulated platform operating in Bahrain, maintaining ISO/IEC 27001 and 27701 certifications is a practical demonstration of compliance and operational discipline: the standards require documented controls, risk assessment processes, and mechanisms for protecting sensitive and personal data across an organisation. According to the announcement, the renewed certifications confirm that protection of client information is “effectively managed and implemented at every level of the organization.” That claim is intended to reassure users, regulators and partners that Binance Bahrain’s processes meet internationally accepted benchmarks for both cybersecurity and privacy management. Outlook With the renewed certifications, Binance Bahrain has taken a step many industry observers regard as necessary for digital asset platforms operating under regulatory oversight. The move signals the platform’s ongoing focus on security and transparency as it continues to operate in a sector subject to heightened regulatory attention. For Binance Bahrain, sustaining ISO/IEC 27001 and 27701 compliance will require continued investment in controls, audits and reporting, a process emphasised by A-LIGN’s participation and by the platform’s senior security leadership. The company frames the certification renewals as part of its broader commitment to responsible innovation and the secure handling of user information in the Kingdom and beyond. --- ## African Fintech Expansion: Why Startups are Moving to the GCC URL: https://startupsmena.com/african-fintech-expansion-why-startups-are-moving-to-the-gcc-global-finance-magazine-mphbhw3x Date: 2026-05-22 Category: tech Tags: **Summary:** Nigeria’s Innovate1Pay runs global operations from Dubai’s Jumeirah since 2019. Lagos-based Flutterwave, one of Africa’s first and fastest-growing fintech unicorns, will soon be the latest to set up s Nigeria’s Innovate1Pay has run global operations from Dubai’s Jumeirah since 2019, and Lagos-based Flutterwave — one of Africa’s earliest fintech unicorns — is preparing to open a UAE office after expanding into Saudi Arabia and Bahrain in 2024. Other notable moves include Egypt’s MNT-Halan launching salary-financing products in Dubai and Paymob Technologies expanding across the UAE, Saudi Arabia and Oman after securing a full UAE Central Bank license last year. Ghana-based Zeepay, which already operates in 25 countries, has identified the UAE as a primary entry point for a Gulf–Africa remittance corridor. "For us, it’s a new chapter. We are eager to make an impact and become the remittance solution in the Gulf," said Kojo Amofa, Partnerships Manager at Zeepay. "Many migrant workers want to send money home, and the current volatility creates an even more drastic need that we want to answer." Context and drivers Fintech expansion from Africa into the Gulf is being driven by a high-value remittance corridor and growing investor interest. Researchers estimate between 3 million and 5 million African migrants now live and work across the Gulf Cooperation Council, including sizable Egyptian, Sudanese, Ethiopian, Kenyan and Ugandan communities. According to the World Bank, global remittances to Africa reached $109 billion in 2024, with roughly a third originating from the GCC. Much activity still occurs off the books and in cash: traditional operators such as Western Union, MoneyGram and Gulf exchange houses charge average sending costs of 8% to 9% — among the highest globally — creating demand for lower-cost digital alternatives. A recent Visa study cited in the reporting found nearly two-thirds of UAE residents now prefer digital apps over physical locations for sending money abroad, with ease of use (50%) and safety, privacy and speed (46%) listed as key drivers. Companies such as Zeepay are pursuing partnerships with established digital payment firms in Dubai or Abu Dhabi to pilot an African remittance corridor rather than immediately establishing physical offices. "We need to test the appetite. Rather than entering a market we are not native to, we prefer collaboration so that our services can be tried out," Amofa added. Innovate1Pay: global operations based in Dubai's Jumeirah since 2019. Flutterwave: expanding into the UAE after moves into Saudi Arabia and Bahrain in 2024. MNT-Halan: launched salary-financing products in Dubai. Paymob Technologies: expanded across UAE, Saudi Arabia and Oman; secured full UAE Central Bank license. Outlook Gulf capital is increasingly targeting African fintech: Partech Partners data shows African fintechs raised $1.5 billion across 150 deals in 2025, and GCC sovereign wealth funds and family offices have intensified exposure to African assets. GCC countries have invested more than $100 billion in Africa over the past decade. Notable deals include Nigeria’s Moove.io raising a $30 million private credit sukuk arranged by Franklin Templeton Investments in Dubai in 2022, and Kenya’s M-Pesa partnering with the UAE-based ADI Foundation — whose parent, IHC, is described as a $240 billion entity. Boston Consulting Group projects African fintech revenues could reach $65 billion by 2030 — a thirteenfold increase — pointing to long-term opportunity in SME finance, credit and digital banking beyond payments. Still, short-term headwinds remain: regulatory bottlenecks and geopolitical tensions, including the war in the Middle East, may temporarily slow Gulf investment as governments refocus spending priorities. For now, partnerships and pilot projects in the UAE appear to be the most pragmatic route for African fintechs seeking to tap Gulf liquidity and the worker remittance market. --- ## Why Investors Are Looking At African... URL: https://startupsmena.com/why-investors-are-looking-at-african-africacom-mph79nrm Date: 2026-05-22 Category: tech Tags: **Summary:** In November last year, two African fintech companies, South Africa’s Optasia and Morocco’s Cash Plus, both entered public markets within weeks of one another, marking the region’s first notable fintec Two landmark listings late last year have reignited investor attention in African fintech: South Africa’s Optasia listed on the Johannesburg Stock Exchange at a valuation of roughly $1.4 billion after raising approximately $345 million, while Morocco’s Cash Plus raised approximately $82.5 million through its Casablanca listing at a valuation near $550 million. Those deals — the region’s first notable fintech IPOs since before the pandemic-era funding boom — come as market watchers eye potential public listings for Airtel Africa’s mobile money business and OPay later in 2026 and as private-market activity shows early signs of recovery. "Some market analysts now estimate that African fintech startups raised roughly $187 million across 21 deals during the first quarter of 2026 alone, representing quarter-on-quarter growth of almost 400% in deal value and just over 30% in deal count," wrote Adesoji Solanke, Head of Fintech Banks Investment Banking Origination at Absa CIB, in an analysis published on May 18, 2026. Context and detail Africa’s fintech sector is projected to expand significantly over the next decade, with sector revenues forecast to rise roughly thirteenfold to about $65 billion by 2030. Payments and lending businesses now account for more than half of African fintech firms and captured the majority of equity funding in recent years, driven by higher smartphone penetration and a young, urbanising population. Fintech investment on the continent crossed the $1 billion mark in both 2021 and 2022, but the post-pandemic interest rate reset materially altered the economics for growth-stage technology companies and cooled investor appetite. Despite that pullback, larger fintech firms that received heavy venture backing during the boom are maturing, prompting early investors to explore exit pathways — particularly public listings for platforms able to meet institutional scrutiny. Merger and acquisition activity has increased as banks, retailers and fintechs seek scale and distribution. In South Africa, banks have been acquiring fintech capabilities, retailers have expanded into embedded financial services, and fintechs have consolidated with one another. Notably, a greater share of recent M&A is taking place between African players themselves rather than being driven primarily by international acquirers, signalling local market maturation. Absa is among the institutions advising investors and businesses on the commercial and regulatory complexity of fintech transactions across different African markets, underscoring the importance of strong domestic partnerships and local market knowledge. Mobile money remains a defining feature of several African fintech markets: many consumers entered digital financial systems via mobile wallets and USSD-based services long before traditional banking infrastructure achieved broad penetration. Looking ahead, the combination of successful IPOs such as Optasia and Cash Plus, a pickup in quarterly funding activity, and increased intra-African M&A suggests parts of the sector are shifting from venture-led growth narratives toward businesses capable of supporting longer-term institutional capital. As Solanke warns, the shape of that next phase will depend on local context: "The businesses and investors likely to perform best may ultimately be those that understand how deeply African fintech is tied to the continent’s underlying financial realities," a perspective that highlights where the sector’s largest opportunities are still likely to sit. --- ## CVC and GBL launch €10.7B bid to take Recordati private URL: https://startupsmena.com/cvc-and-gbl-launch-107b-bid-to-take-recordati-private-startup-fortune-mpgwhh0w Date: 2026-05-22 Category: tech Tags: **Summary:** CVC and GBL are not acting alone. Funds linked to the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board are also involved, while Recordati chairman Andrea Recordati is expect A consortium led by CVC Capital Partners and Groupe Bruxelles Lambert (GBL) has launched a €10.7 billion all-cash tender offer to take Italian rare‑disease specialist Recordati private, the firms said in a move that would delist the company from Euronext Milan. The bid, submitted through Respighi BidCo, values Recordati at €51.29 per share ex‑dividend (€52.00 including the 2025 dividend balance) and comes with the declared support of controlling shareholder Rossini, which owns 46.82% of the company and has agreed to tender its stake. Direct quote "The consortium is offering €51.29 per share ex-dividend, or €52.00 including the 2025 dividend balance, through Respighi BidCo," the offer document states. Context and details The offer represents a 12.89% premium to Recordati's closing price on March 25, the day before CVC's interest became public, according to Reuters cited in the filing. The bidder group includes not only CVC and GBL but also funds linked to the Abu Dhabi Investment Authority (ADIA) and the Canada Pension Plan Investment Board (CPPIB). Recordati chairman Andrea Recordati is expected to roll his stake into the new ownership structure, the report said. Transaction value: €10.7 billion Per-share price: €51.29 ex‑dividend / €52.00 including 2025 dividend balance Controlling shareholder Rossini stake: 46.82% Recordati 2025 revenue: €2.62 billion; rare‑disease sales: €1.08 billion Isturisa sales (2025): €262.8 million (up from €203.6 million in 2024) GBL commitment: about €1.3 billion Recordati’s financial profile underlines why the consortium has targeted the company: 2025 revenue rose 11.8% to €2.62 billion, while the rare‑disease unit reached €1.08 billion with like‑for‑like growth of 16.6% at constant exchange rates. The company’s Cushing’s syndrome drug Isturisa produced €262.8 million in sales in 2025, up from €203.6 million the prior year. As the source put it, "That is the kind of growth profile private equity likes: specialist products, clear medical need, and room for acquisitions." Outlook The consortium is pitching private ownership as a way to accelerate long‑term investment in research, licensing and M&A without the short‑term scrutiny of public markets. GBL’s roughly €1.3 billion commitment marks a significant step in its pivot toward private assets, while participation by sovereign and pension investors such as ADIA and CPPIB signals a willingness to pursue a longer holding period rather than a quick flip. The tender process is expected to conclude in late 2026, subject to regulatory approvals and achieving the acceptance threshold among minority shareholders, who must decide whether the 12.89% premium represents a fair cash exit or leaves upside on the table if Recordati remains listed. --- ## Miral launches AI-driven conservation initiatives across Abu Dhabi URL: https://startupsmena.com/miral-launches-ai-driven-conservation-initiatives-across-abu-dhabi-mpguztk7 Date: 2026-05-22 Category: tech Tags: **Summary:** Miral, a prominent developer of immersive destinations and experiences in Abu Dhabi, has announced four conservation initiatives for 2026 as part of Impact by Miral, a strategic platform dedicated to Miral has announced four AI-driven conservation initiatives for 2026 under Impact by Miral, its strategic platform for funding and implementing social and environmental projects across Abu Dhabi. The programmes — approved by the Fund’s Steering Committee following inaugural Advisory Working Group meetings — aim to protect the UAE’s marine and terrestrial ecosystems using applied research, conservation genomics, artificial intelligence and data-led monitoring. “Impact by Miral was launched as part of our commitment to creating meaningful change. The approval of our four conservation priorities marks an important milestone in this journey, which underscores not only our ambition but the strength of collective action,” said Taghrid Alsaeed, executive director of marketing, communications events at Miral and vice chair of Impact by Miral. “We extend our sincere gratitude to our partners, whose expertise and collaboration are fundamental to turning vision into impact. Together, we are contributing to a more sustainable future for Abu Dhabi by actively safeguarding its invaluable natural ecosystems. Through this shared commitment, not only are we protecting what matters today but also shaping a lasting legacy for generations to come.” Initiatives approved for 2026 Four programmes received formal approval at the inaugural meetings. They were developed with leadership from Yas SeaWorld Research Rescue Center on Yas Island and Al Ain Zoo, and presented to the Steering Committee alongside contributions from leading researchers and conservation experts. Dr Elise Marquis, senior director of Yas SeaWorld Research Rescue Center, chaired the Advisory Working Group session that reviewed the proposals. Tracking sea turtle populations across the Arabian Gulf, using population monitoring techniques to better understand distribution and threats. Advancing AI-powered sustainable aquaculture to support food security while reducing environmental impacts and improving monitoring of marine systems. Protecting the Arabian Sand Cat in Abu Dhabi’s deserts through targeted conservation and habitat management interventions. Safeguarding the critically endangered Dama Gazelle, including structured species conservation and potential reintroduction measures. The approved programmes emphasise a science-based approach. Miral says the work will “utilise applied research, conservation genomics, AI, and data-focused monitoring” to improve biodiversity outcomes, support food security, and facilitate structured conservation and reintroduction efforts. Representatives from top academic and environmental institutions formed the Advisory Working Group to ensure technical rigour and partnership alignment. Impact by Miral was launched in late 2025 in partnership with the Authority of Social Contribution – Ma’an and operates across four pillars: Conservation, Arts Culture, Health Wellbeing, and Education Skills Development. The Fund is overseen by both a Steering Committee and the Advisory Working Group to maintain transparency, oversight and alignment with Abu Dhabi’s environmental and social objectives. With the Steering Committee’s sign-off, Miral and its partners will move into implementation planning for 2026 activities. The initiatives signal a continued shift towards leveraging technology — particularly AI and genomics — alongside traditional conservation methods, and underscore Miral’s stated intent to translate corporate resources and destination expertise into measurable conservation impact across the emirate. --- ## African startups look to new investors URL: https://startupsmena.com/african-startups-look-to-new-investors-it-online-mpgmyqgm Date: 2026-05-22 Category: tech Tags: **Summary:** Kathy Gibson reports from AI Everything and Gitex Kenya in Nairobi – Africa’s exciting and innovative start-ups are attracting interest from investors in the Middle East, Europe and Asia. Investors fr Kathy Gibson reports from AI Everything and Gitex Kenya in Nairobi that African start-ups are increasingly drawing interest from investors in the Middle East, Europe and Asia who are prepared to take longer-term positions and to tailor their approaches to the continent’s diversity. Speakers at the events urged founders to recognise wide regional differences across Africa and to adjust return timelines, risk expectations and pitch narratives when courting Gulf and Asian capital. “The continent has 54 countries, each with their own maturity and technology standpoint. So you cannot look at Africa as a whole,” said Rishikesh Trivedi, MD: cross border investments at 888vc, UAE. He warned founders that typical investment timelines of five to seven years elsewhere often stretch to “eight to 20 years” when investing in Africa. Japanese investors at the conferences echoed the long-horizon view. “I always think about where Africa needs to be in the next 100 years,” said Takuma Terakubo, CEO and general partner at Uncovered Fune, Japan. “Japanese companies tend to have been operating for a long time, so they are looking for long-term relationships: they are not interested in quick returns.” Ryo Oizumi, director: corporate planning division, business strategy office at Nagase Co, Japan, said his company has been investigating the African market for the last three years and is only now looking to open a branch. Investors pointed to demographic and structural reasons for their interest. “There are two numbers that I want to talk about: 19,8 – which is the average age in Africa; and 48,6 – which the median age in Japan,” said Sadaharu Saiki, co-founder and general partner at Sunny Side Venture Partners. He noted comparative growth forecasts — “While Africa is expected to see 1,7x growth, Japan is predicted to see 1,2x growth” — and argued this underpins the continent’s appeal even as gaps in the ecosystem remain. Practical advice for founders Be specific about geography: North Africa, West Africa (including Francophone markets) and South Africa have different maturity levels and market linkages, Trivedi said. Adjust ROI timelines: expect longer horizons in many African markets — Trivedi cited eight to 20 years — and be “razor-sharp about the countries and companies you look at.” Tailor pitches to investor priorities: Trivedi urged founders to understand what Gulf and Asian investors want beyond financial returns, giving the UAE’s focus on food security as an example and advising founders to “create a food security narrative.” Build relationship capital: regional investors often seek multi-year working relationships; Saiki warned that international investors “have options” and want clear differentiation on market size and uniqueness. Plan for infrastructure gaps: Terakubo highlighted limited infrastructure as a barrier but said the right investments can allow startups to mitigate those challenges. Speakers painted a pragmatic outlook: increased capital flows are arriving from the Middle East and Asia, but success will favour founders who present country-level focus, long-term commitment and partnership narratives that align with investor priorities. As Trivedi put it, “A relationship is necessary, but not always sufficient – as an investor, the first thing I want to see is that I can work with the founder for the next 10 years.” --- ## Gaming Sector in Focus as Morocco Accelerates Its Digital Economy Ambitions URL: https://startupsmena.com/gaming-sector-in-focus-as-morocco-accelerates-its-digital-economy-ambitions-mpgmwe6o Date: 2026-05-22 Category: tech Tags: gaming, video games, Morocco, digital economy, gaming expo **Summary:** The Morocco Gaming Expo showcased the Kingdom's ambition to become a regional hub for the video game industry, with officials and industry leaders calling for coordinated investments in studios, training, infrastructure and AI-driven game production. The event emphasized gaming's potential to drive jobs, innovation and cultural exchange across Africa and the MENA region. Rabat — Morocco Gaming Expo on May 20, 2026 put the country’s ambitions to become a regional hub for the video game industry in the spotlight, drawing government officials, creatives and technology leaders to discuss how gaming can drive digital economic growth in the Kingdom. The conference, reported by Majda Bouzaroita for Morocco World News, was described as one of the first large-scale initiatives of its kind on the African continent and was attended by Mehdi Bensaid alongside public and private sector stakeholders. "the gaming sector is no longer viewed solely as a form of entertainment, but as a powerful economic ecosystem that combines technology, design, storytelling, artificial intelligence, animation, and digital production." Conference context and priorities Speakers at the Morocco Gaming Expo framed the industry as a multifaceted economic opportunity that could deliver employment, spur technological development and enhance international competitiveness. The event underscored Morocco’s broader strategy to strengthen its position in the global digital economy by investing in high-potential creative industries and building an ecosystem that can produce competitive games for regional and global markets. Organisers and participants highlighted several focus areas for policy and private-sector action, including: Attracting international studios to establish a presence in Morocco and to collaborate with local teams; Supporting local developers through funding, incubation and publishing partnerships; Investing in training programs and creative education to prepare Moroccan youth for careers in game development, animation and digital production; Upgrading digital infrastructure to support production pipelines, cloud services and distributed teams; Leveraging advances in artificial intelligence and animation to enhance game design and storytelling. Officials at the expo stressed that cultivating these elements would not only create new career paths for young talent but also encourage cross-sector innovation. The conference noted that gaming revenues worldwide continue to surpass those of several traditional entertainment sectors, positioning the industry as a strategic lever for economic diversification and digital transformation in Morocco. Beyond economic considerations, participants highlighted gaming’s cultural role, describing it as a modern medium for promoting creativity, storytelling and cultural exchange on an international scale. The expo emphasised that a mature Moroccan games ecosystem could raise the country’s profile across Africa and the wider MENA region. Outlook: As Morocco accelerates its digital development strategy, initiatives such as the Morocco Gaming Expo signal clear intent to place the Kingdom at the forefront of Africa’s emerging gaming and creative technology landscape. Policymakers and industry leaders at the event called for coordinated investments in education, infrastructure and partnerships to translate the expo’s momentum into sustainable studios, jobs and exportable creative products. --- ## Digital Morocco 2030: The $1.1bn Bet On Tech And 240,000 Jobs URL: https://startupsmena.com/digital-morocco-2030-the-11bn-bet-on-tech-and-240000-jobs-african-leadership-magazine-mpgmuc9t Date: 2026-05-22 Category: tech Tags: Morocco, digital transformation, AI, startups, infrastructure, 5G, outsourcing **Summary:** Morocco launched Digital Morocco 2030, an 11 billion dirham (≈$1.1bn) programme (2024–2026) to build a domestic digital economy—targeting 240,000 jobs, 3,000 startups, expanded fibre and 70% 5G coverage—and to incubate one or two tech unicorns by 2030. Morocco has launched “Digital Morocco 2030,” an 11 billion dirham investment package (approximately $1.1 billion) scheduled between 2024 and 2026 to pivot the economy toward a large-scale digital transformation. The plan sets concrete targets for the decade: create 240,000 new digital-sector jobs, launch 3,000 startups, train 100,000 young people annually in digital skills, expand fibre to 5.6 million households, reach 70% nationwide 5G coverage and deliver an estimated $10 billion contribution to national GDP by 2030. The initiative also aims to raise digital export revenues from 17.9 billion MAD to 40 billion MAD and to incubate one or two technology unicorns. "Digital Morocco 2030 reflects a wider continental realisation that Africa’s next major economic race may increasingly revolve around digital infrastructure, artificial intelligence, technological sovereignty, and scalable knowledge economies rather than traditional commodities alone," wrote the Staff Writer in African Leadership Magazine. Strategy and components The strategy rests on two principal pillars: the digitisation of public administration and the expansion of Morocco’s domestic digital economy. The public-administration workstream seeks integrated e‑government services and unified digital platforms to reduce bureaucracy, improve customs and tax processes, and tackle corruption vulnerabilities. Morocco has set an explicit objective to rank among the world’s top 50 countries on the United Nations Online Services Index. Investment: 11 billion dirhams (~$1.1 billion) between 2024–2026 Jobs: 240,000 new digital-sector positions by 2030 Startups: 3,000 new firms and potential for one or two unicorns Skills: 100,000 young people trained annually Infrastructure: fibre to 5.6 million households and 70% 5G coverage Economic goal: ~$10 billion contribution to GDP and digital exports rising to 40 billion MAD At the heart of the plan is “Maroc IA 2030,” an artificial intelligence roadmap designed to integrate AI into public administration, judicial systems, education and digital services while reducing dependence on foreign digital ecosystems. The initiative responds to a longstanding concern that many global AI systems are trained on Western and Asian datasets, leaving African languages and economic realities underrepresented. Morocco is also positioning itself to capitalise on outsourcing demand. The report highlights the country’s advantages in French-language business services, proximity to Europe and relative infrastructure stability as potential differentiators against established hubs such as India, the Philippines and parts of Eastern Europe. Outlook While ambitions are substantial, the analysis cautions that several constraints could limit outcomes: talent retention pressures as skilled workers migrate to Europe, North America and the Gulf; uneven nationwide digital coverage; limited venture capital depth; currency risks; and rising cybersecurity threats. If Morocco can scale infrastructure deployment and deepen local venture financing, Digital Morocco 2030 could reshape the kingdom into a North African technology gateway and a bridge between African and European digital markets. African Leadership Magazine concludes that the $1.1 billion investment signals a broader continental shift in which digital capability is treated as strategic infrastructure rather than optional policy. --- ## Orange Jordan holds sessions to empower startups URL: https://startupsmena.com/orange-jordan-holds-sessions-to-empower-startups-the-jordan-news-agency-mpgmrxqr Date: 2026-05-22 Category: tech Tags: corporate innovation, public-private, entrepreneurship, accelerator, Jordan **Summary:** Orange Digital Center and GIZ ran sessions across Amman, Irbid and Aqaba to connect startups with private-sector partners, leveraging the BIG by Orange programme to boost training, matchmaking and investor readiness. Amman, May 20, 2026 — The Orange Digital Center, in cooperation with the German Agency for International Cooperation (GIZ), ran a series of sessions under the "Connecting the Private Sector and Supporting Startups" programme, part of the wider "Entrepreneurship for Sustainable Economic Development and Employment" project. The sessions took place in the governorates of Amman, Irbid and Aqaba and focused on strengthening links between entrepreneurs and private-sector actors, Orange Jordan said in a statement reported by Petra on Wednesday. "We are committed to making a positive impact on society through supporting entrepreneurs and opening new horizons for expansion and sustainable growth," the company said, underscoring its role in convening stakeholders and facilitating collaboration between startups and established firms. Programme objectives and session themes The events aimed to improve cooperation and communication mechanisms with startups, identify promising partnership areas, and highlight the private sector's role in supporting early-stage companies. According to the statement, the sessions addressed: Improving cooperation and communication mechanisms with startups Identifying promising partnership areas between startups and private companies Highlighting the role of the private sector in supporting entrepreneurial initiatives Orange Jordan framed the initiative as part of a broader commitment to the national entrepreneurial ecosystem. The company pointed to its long-running "BIG by Orange" programme, which it said has "contributed over the past 11 years to boosting the entrepreneurial landscape in Jordan" by providing training, networking opportunities and guidance on attracting investment. Delivered in partnership with GIZ, the sessions leveraged public‑private cooperation to create pathways for startups to access corporate partners, customers and mentorship. Organisers emphasised practical outcomes — not only dialogue but connections that can translate into pilot projects, procurement opportunities and investment readiness for participating small companies. Local reach and strategic intent By staging sessions across Amman, Irbid and Aqaba, organisers sought geographic breadth to reach founders outside the capital and to tap into the specific economic assets of each governorate. Amman remains the hub for most tech startups and investors, while Irbid and Aqaba offer access to northern academic communities and southern logistics and port economies respectively. Orange Jordan and GIZ did not disclose specific financial commitments tied to the sessions in the Petra statement, but highlighted capacity building and matchmaking as immediate deliverables. The reference to "comprehensive support" through "BIG by Orange" points to a multi-year engagement model that mixes training, networking and investor guidance. Outlook Organisers said the effort is designed to produce sustainable links between the private sector and entrepreneurs that can scale beyond pilot initiatives. With the "Entrepreneurship for Sustainable Economic Development and Employment" project providing the programme framework, stakeholders are expected to monitor follow-up activities — such as partnership agreements, pilot implementations and investment rounds — to assess the sessions' impact on job creation and business growth. Petra carried the report from Orange Jordan on May 20, 2026, reflecting continued momentum in public‑private efforts to strengthen Jordan's startup ecosystem. --- ## Egyptian prop-tech startup Byit expands into UAE URL: https://startupsmena.com/egyptian-prop-tech-startup-byit-expands-into-uae-disrupt-africa-mpgmpwd5 Date: 2026-05-22 Category: tech Tags: prop-tech, real estate, AI, UAE, Egypt, funding, brokers, marketplace **Summary:** Egyptian prop-tech startup Byit has expanded into the UAE and launched AI-powered real estate solutions, establishing Byit Ventures after a US$1.1 million funding round to connect Egyptian property supply with Gulf investors. Egyptian prop‑tech startup Byit has expanded into the United Arab Emirates and launched a new suite of AI‑powered real estate solutions as it seeks to connect Egyptian property supply with Gulf investors. Founded in 2022 by Antoine Azer, the company has established a UAE arm, Byit Ventures, following a US$1.1 million funding round secured late last year. The move comes as Byit leverages its agent‑first broking model and data‑driven platform to facilitate cross‑border transactions and unlock new revenue streams for freelance brokers. “Our expansion into the UAE marks a key milestone in Byit’s regional journey. We are building more than just a platform; we are enabling brokers to operate across borders with greater efficiency, transparency, and access to international demand. With AI at the core of our technology, we are redefining how real estate transactions are executed in the region,” said Antoine Azer, founder of Byit. How Byit’s model works Byit positions itself as an agent‑first marketplace that uses artificial intelligence to streamline the broking process. Its technology is designed to help agents match clients with relevant properties through personalised recommendations and data‑driven insights. The company offers freelance brokers up to 90% of developers’ commission, a structure intended to broaden participation and incentivise a large broker network. Founded: 2022 Founder: Antoine Azer Funding: US$1.1 million (late 2025) Freelance broker network: over 40,000 Developer partners: more than 450 Mapped projects: over 1,000 The startup says it already has a rapidly growing network of over 40,000 freelance brokers, access to more than 450 developer partners and more than 1,000 mapped projects. Byit’s AI suite aims to empower these brokers with tools to manage listings, identify cross‑border demand and execute transactions with greater transparency and efficiency. Context and regional strategy Byit’s UAE launch is explicitly targeted at connecting Egyptian property supply with GCC‑based investors. Establishing Byit Ventures in the UAE is intended to make it easier for Gulf capital to flow into Egypt’s real estate market while creating additional income opportunities for brokers operating across borders. The company has identified Saudi Arabia as its next target market, signalling a broader Gulf expansion strategy. The timing of the UAE expansion follows Byit’s US$1.1 million funding round late last year, a raise the company expects will support its regional growth and product development. The new AI features are presented as core to that plan, enabling more efficient lead matching, personalised property discovery and smoother cross‑jurisdictional transactions. Outlook With the UAE base and Byit Ventures in place, Byit is positioned to scale its platform across the Gulf and to funnel more foreign investment into Egyptian projects. The company’s combination of an agent‑friendly commission model, a large broker network and AI tools gives it a differentiated proposition in the regional prop‑tech space, as it pursues expansion into Saudi Arabia and other Gulf markets. --- ## Can Digital Banking Help Expand Financial Inclusion in Egypt? URL: https://startupsmena.com/can-digital-banking-help-expand-financial-inclusion-in-egypt-the-middle-east-observer-mpgik8v3 Date: 2026-05-22 Category: tech Tags: **Summary:** Egypt’s expansion into digital banking could become one of the country’s most significant financial transformation opportunities over the coming decade, particularly as policymakers seek to widen fina Egypt’s move into digital banking is emerging as a major financial transformation opportunity that could widen financial inclusion, modernise banking services and integrate larger segments of the population into the formal economy, according to reporting by The Middle East Observer. The Central Bank of Egypt has already introduced digital banking regulations, and two landmark retail-focused launches are lined up: Commercial International Bank (CIB) plans to roll out “Yomo” later in 2026, while Banque Misr has already backed the earlier rollout of “One Bank.” "Egypt’s expansion into digital banking could become one of the country’s most significant financial transformation opportunities over the coming decade, particularly as policymakers seek to widen financial inclusion, modernise banking services, and integrate larger segments of the population into the formal economy." The significance of the market stems from Egypt’s population size and a growing youth demographic, which give digital banking broader economic consequences than in smaller regional markets. The Middle East Observer highlights that digital services can improve access for younger users, small and medium-sized enterprises (SMEs), freelancers and communities with limited access to physical branches. Analysts point to regional precedents in Saudi Arabia and the UAE where successful digital-bank rollouts depended on integrated systems such as digital identity verification, mobile onboarding, robust cybersecurity and clear fintech regulation. What needs to be built Digital KYC and mobile-based customer onboarding systems to verify users remotely. Fraud prevention and cybersecurity frameworks to protect customer funds and data. Cloud banking governance and interoperable electronic payments infrastructure. Financial literacy programmes to build public trust and encourage adoption. Fintech regulation that enables partnerships between banks and startups while managing systemic risk. The article underscores that digital banking’s impact could extend beyond the banking sector. Wider adoption may reduce dependence on cash, increase financing access for SMEs, support e-commerce growth, strengthen tax formalisation and deepen integration between banking and other elements of Egypt’s digital economy. Given the country’s demographic scale, "even modest gains in digital financial inclusion could bring millions of additional users into the formal banking system over the coming decade," the report notes. Bank-led consumer offerings such as CIB’s Yomo and Banque Misr’s One Bank illustrate the market’s early direction, but policymakers and market players face a coordination challenge. Egypt must continue investing in fraud prevention technologies, cloud governance and consumer education while ensuring that regulatory frameworks keep pace with fintech innovation. Regional learning—adapting elements from Saudi and UAE models—will be important but must be tailored to Egypt’s population size and economic structure. Looking ahead, the success of digital banking in Egypt will hinge on public trust and system reliability as much as product availability. If regulators, incumbent banks and fintechs can align on secure KYC, payments interoperability and literacy initiatives, digital banking could evolve from a set of apps into a broader economic development tool supporting entrepreneurship, formalisation and financial access at scale. --- ## Riyadh Air's Bespoke Dreamliner Will Fly to London on July 1 URL: https://startupsmena.com/riyadh-airs-bespoke-dreamliner-will-fly-to-london-on-july-1-mpgihgmk Date: 2026-05-22 Category: tech Tags: **Summary:** It’s finally possible to book a seat on Riyadh Air Dreamliner. The inaugural commercial passenger flight, scheduled for July 1, is a huge step forward for the Saudi Arabian startup. Riyadh Air has opened bookings for its bespoke Boeing 787 Dreamliner and will operate its inaugural commercial passenger flight to London Heathrow on July 1. Tickets went on sale on May 19 via Riyadh Air’s website for daily services between Riyadh (RUH) and London (LHR), marking the Saudi startup’s first operations with its own tailored aircraft after operating the route with an ex-Oman Air jet since October. “Today marks a truly exciting milestone for Riyadh Air as we introduce our new aircraft and signature premium experience on our established London route,” said Tony Douglas, CEO at Riyadh Air. Booking, schedule and early operations As of May 19, flights on Riyadh Air’s Boeing 787 are available exclusively through the airline’s website. Scheduled times: Riyadh to London departs 2:35 a.m. and arrives 7:30 a.m.; London to Riyadh departs 9:35 a.m. and arrives 6:05 p.m. (times will change slightly when U.K. clocks go back at the end of October). The carrier launched the Riyadh–London route in October using an ex-Oman Air Dreamliner in temporary livery to secure Heathrow slots and complete crew training, before taking delivery of its bespoke aircraft. Cabins, fares and onboard experience Riyadh Air is selling three cabin classes with tiered fare families. Business class fares on the inaugural Riyadh–London service start at 16,154 Saudi Arabian Riyal (approximately $4,308). Business fares are offered as Smart, Flex and Elite; all fare types include fast-track security, lounge access and a chauffeur service. The airline also operates a Sfeer loyalty program that awards Sfeer and Level points according to fare class. Business Elite: Passengers can upgrade a Smart or Flex fare to a Business Elite seat in the front row for an additional 1,000 SAR (around $266). These four Business Elite seats feature 32-inch screens — Riyadh Air claims they are 10 inches larger than the 24-inch screens in the rest of the business cabin — and the two middle seats combine to form a double bed. Premium Economy: fares start at $1,222 one-way. Economy: fares start at $687 one-way. Premium and economy fares are sold as Lite, Smart and Flex, with Flex offering the most lenient change and refund terms and complimentary seat selection. Fleet plans and outlook Riyadh Air has placed ambitious orders as it builds a global network: up to 72 Boeing 787-9s, up to 50 Airbus A350-1000s, and up to 60 Airbus A321neos. London Heathrow is the airline’s first destination with its bespoke Dreamliner, and the carrier has signaled ambitions to expand that network substantially — “a large global network to rival the likes of Emirates and Qatar Airways,” according to reporting on the rollout. The July 1 commercial launch represents a key operational milestone as Riyadh Air transitions from temporary equipment and training operations to services using its own cabin design and product. --- ## Family Offices and High-Net-Worth Individuals Are Flocking to Dubai — Here's Why It Matters URL: https://startupsmena.com/family-offices-and-high-net-worth-individuals-are-flocking-to-dubai-heres-why-it-matters-mpgd06nb Date: 2026-05-22 Category: other Tags: real estate, family offices, wealth management, Dubai, residency, ultra-prime **Summary:** The article outlines how Dubai is evolving into a full‑spectrum global wealth hub — attracting family offices and high‑net‑worth individuals through legal reforms, long‑term residency options and robust real estate transaction growth. Structural changes, digitalisation and segmentation in the property market underpin the emirate’s appeal as a place to relocate capital, people and businesses. Dubai is increasingly functioning as a full‑spectrum global wealth hub where capital, people and businesses relocate in parallel. By the end of 2025 the emirate recorded roughly 215,000 transactions and more than AED 680 billion in sales value, marking a fifth consecutive record year. Momentum carried into 2026: in the first quarter alone residential sales reached about AED 176.7 billion across nearly 48,000 deals, while prices per square foot were rising in the low double digits year‑on‑year. At the ultra‑prime end, a beachfront plot on Naïa Island sold in April 2026 for AED 377 million for a 52,866 square‑foot site, and more than three‑quarters of the island’s plots have already sold. "Capital follows usability, not just prestige," the Entrepreneur analysis observed, summarising why wealthy buyers are treating Dubai as more than a tactical stopover. How Dubai engineered that usability Structural changes in law, residency and market infrastructure have aimed to remove friction for international buyers. Law No. 7 of 2006 enables foreign ownership in designated freehold zones, while the Dubai Land Department and RERA have tightened transparency and oversight. Long‑term residency options such as the 10‑year Golden Visa — and rules allowing investors to secure residency with property holdings of at least AED 2 million — signal that Dubai is positioning itself as a place to build continuity rather than merely park capital. Earlier requirements on minimum cash down payments have been removed, simplifying purchase processes for offshore buyers. "For investors, three questions matter: return potential, process clarity and protection of rights," the article noted, pointing to why clearer ownership structures and digitalised systems have become central to Dubai’s pitch. Market dynamics: yield, segmentation and risks Price momentum: residential prices rose in the low double digits year‑on‑year in many segments. Transaction scale: roughly 215,000 transactions and AED 680 billion in sales value by end‑2025; Q1 2026 sales of AED 176.7 billion across nearly 48,000 deals. Ultra‑prime benchmark: AED 377 million beachfront plot on Naïa Island (52,866 sq ft). Investors are buying access to a "platform city" — a jurisdiction that can serve as a tax base, a regional headquarters and an investment gateway simultaneously. Rental yields remain competitive in mid‑market apartments and selected villa communities, while price growth is concentrating in specific communities rather than uniformly across the emirate. That segmentation makes Dubai attractive for high‑net‑worth individuals seeking assets that preserve capital, generate income, support residency and accommodate families or staff. At the institutional level, hundreds of family offices have established a presence in Dubai, many operating from the Dubai International Financial Centre (DIFC), reflecting capital relocating rather than merely transacting. Outlook Risks persist: a growing pipeline means tens of thousands of new residential units were expected by 2026, with a significant wave of completions in 2025–2026. Off‑plan sales account for a large share of transactions, elevating exposure in highly leveraged off‑plan apartments in mid‑tier locations. Conversely, land‑constrained villa communities and prime waterfront properties continue to show stronger pricing power. While localized corrections in specific submarkets remain possible, the combination of continued migration, institutional family‑office presence and large transaction volumes has made Dubai’s wealth market structurally more durable than a simple luxury cycle. --- ## UAE’s Lunate backs $70m Jordanian technology fund URL: https://startupsmena.com/uaes-lunate-backs-70m-jordanian-technology-fund-agbi-mpgabzzg Date: 2026-05-22 Category: tech Tags: **Summary:** Lunate, the Abu Dhabi-based alternative investment manager, has backed a JD50 million ($70 million) investment fund to support startups in Jordan. The sharia-compliant fund, called Manara Ventures, wa Lunate, the Abu Dhabi-based alternative investment manager, has backed a JD50 million (about $70 million) sharia-compliant fund that will support technology startups in Jordan. The vehicle, named Manara Ventures, was launched by the Jordan Capital and Investment Fund (JCIF) and is registered in the Abu Dhabi Global Market (ADGM). The fund has also secured additional backing from several regional institutional investors, the state-run Jordan News Agency (Petra) reported, though those parties were not named. "The fund will provide the necessary capital and institutional backing to enable startups to scale, generate strong financial returns and accelerate Jordan’s digital economy," said Luma Fawaz, CEO of Manara Ventures. Deal terms and strategy Manara Ventures is structured to target tech-focused Jordanian companies with high growth potential. According to JCIF and Manara's public statements, the fund plans to: Invest in more than 20 growth-stage firms; Provide follow-on capital to support up to 15 high-performing businesses pursuing regional expansion; Make individual investments in the range of $750,000 to $3 million. The fund’s sharia-compliant status positions it to attract regional capital that seeks adherence to Islamic finance principles. Registration in ADGM gives the vehicle an international regulatory base within Abu Dhabi’s financial free zone. Context and partners JCIF, which launched Manara Ventures, is the largest private-sector investment fund in Jordan with capital exceeding JD275 million. JCIF is owned by 16 Jordanian banks and focuses on investing in high-potential companies within strategic sectors of the Jordanian economy. Lunate — the Abu Dhabi-based backer of Manara Ventures — is majority-owned by Chimera Investment, which is overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national-security adviser and brother of President Sheikh Mohamed bin Zayed Al Nahyan. Lunate manages roughly $110 billion in assets across private markets, including buyouts, growth equity, early- and late-stage venture capital and private credit. Outlook for Jordan’s startup ecosystem The launch of Manara Ventures comes at a pivotal moment for Jordanian entrepreneurship. Regional startup investment jumped 225% last year, with $7.5 billion raised by 647 startups, data compiled by the entrepreneurship platform Wamda shows. Despite that regional surge, Jordanian startups raised $10 million across 22 deals last year, down from $15 million the previous year — underscoring a financing gap that Manara Ventures aims to help close. With planned allocations to more than 20 growth-stage companies and follow-on support for up to 15 firms expanding regionally, Manara Ventures aims to provide both initial growth capital and the institutional support needed to scale Jordanian technology businesses beyond domestic markets. For many founders, the $750,000 to $3 million check sizes the fund targets could mark the next step toward broader regional expansion and higher-growth trajectories. --- ## Riyadh Air Opens Bookings for Formal London Launch URL: https://startupsmena.com/riyadh-air-opens-bookings-for-formal-london-launch-mpg9z4l4 Date: 2026-05-22 Category: tech Tags: **Summary:** After months of false starts, Riyadh Air finally closes the gap between operational readiness and a true commercial launch. ... Saudi startup carrier Riyadh Air has formally opened ticket sales for fl Riyadh Air has formally opened ticket sales for flights between Riyadh and London Heathrow that will be operated by its new Boeing 787-9 Dreamliners from July 1, marking what the carrier describes as a transition from operational readiness flights to a substantive commercial launch. The Saudi startup carrier said the Heathrow route will continue to be operated by a leased aircraft known internally as “Jamila” until June 30, after a soft launch of the service in October last year. "From July 1, journeys between Riyadh and London Heathrow will be flown by its flagship Boeing 787-9 jets," Riyadh Air said in Tuesday's announcement, outlining the change in equipment and the next phase of the airline's rollout. Operational context and product The move closes a gap between Riyadh Air’s months of limited readiness flying and what the airline calls a true commercial debut. Riyadh Air has been conducting those early flights with a leased aircraft as part of an internal program it refers to as "Pathway to Perfect," using the aircraft nicknamed Jamila to build operational maturity before placing its own 787-9s into scheduled service. The new 787-9s are promoted as the carrier’s flagship equipment and will underpin the airline’s Riyadh‑Heathrow link. Skift’s coverage notes the aircraft will be configured in four classes and that Riyadh Air is rolling out a new loyalty program in tandem with the start of full Dreamliner operations. The airline has framed the formal launch as a major milestone for its ambitions and as a contribution to Saudi Arabia’s Vision 2030 strategy for economic diversification. Details to note Equipment changeover: Jamila (leased aircraft) operating until June 30; new Boeing 787-9s take over July 1. Service history: Route soft-launched in October of the previous year, with limited readiness flights since then. Onboard product: Four-class configuration on the 787-9 fleet; a new loyalty program is being promoted alongside ticket sales. Program name: Operational readiness flights conducted under Riyadh Air's "Pathway to Perfect" program. Riyadh Air’s announcement follows months of delays and supply-chain challenges that have affected aircraft deliveries for a range of carriers globally. By formally opening ticket sales tied to its own 787-9 fleet, the airline is seeking to demonstrate that it can move from a preparatory phase into regular commercial operations. Looking ahead, Riyadh Air has indicated it will continue to expand its network and make further destination announcements in the coming months as additional aircraft enter service. The July 1 transition to the carrier’s own Dreamliners represents a visible step in Riyadh Air’s plan to scale international services and support the broader objectives tied to Saudi Arabia’s Vision 2030. --- ## Historic: Riyadh Air’s 1st Official Flight To Take Off In July URL: https://startupsmena.com/historic-riyadh-airs-1st-official-flight-to-take-off-in-july-mpg9wwi5 Date: 2026-05-22 Category: tech Tags: **Summary:** Saudi Arabia’s newest premium airline, Riyadh Air, has officially confirmed that its first commercial passenger flights will begin on July 1st, with nonstop service between Riyadh Airport (RUH) and Lo Saudi Arabia’s newest premium carrier, Riyadh Air, has confirmed that its first commercial passenger flights will begin on July 1, with nonstop service between Riyadh Airport (RUH) and London Heathrow Airport (LHR). The launch, announced as tickets go on sale to the public, will use the airline’s Boeing 787-9 Dreamliner and marks the startup’s formal entry into one of the world’s most competitive long‑haul markets. “Connecting Saudi Arabia with the UK directly and beyond through our growing network of global destinations including Jeddah, Cairo and Dubai, sits at the very heart of what we are building at Riyadh Air and the Kingdom’s ambitions under Vision 2030,” said Tony Douglas, CEO of Riyadh Air. “We look forward to welcoming our guests aboard to experience the future of air travel.” Details of the inaugural service Riyadh Air has positioned the Riyadh–London route as its official public debut after operating non‑public flights to London since October 2025 primarily to carry diplomats. Economy fares for the new service are listed from 1,991 SAR (about $530 one way), and bookings are available through the carrier’s official channels. First public commercial flight date: July 1. Route: Riyadh Airport (RUH) – London Heathrow (LHR). Aircraft: Boeing 787-9 Dreamliner for the inaugural route. Cabin configuration: premium-heavy layout with business-class suites, premium-economy seating and a modern economy cabin. Backing: the airline is established and funded by Saudi Arabia’s Public Investment Fund (PIF). Riyadh Air has described a focus on premium service and international connectivity as central to its product. The airline’s Boeing 787-9s are reported to include spacious premium cabins, upgraded digital entertainment systems and enhanced onboard connectivity. Simple Flying noted the carrier’s intent to position itself as a high-end global airline rather than a low-cost regional operator. The startup has already placed major orders with both Boeing and Airbus as it builds a long‑haul network Riyadh Air says will span Europe, Asia, Africa and North America. Reports cited in industry coverage indicate the airline ultimately aims to serve more than 100 destinations worldwide by the end of the decade. Outlook and competitive landscape Launching on the Riyadh–London corridor puts Riyadh Air in direct competition with established operators such as British Airways and Saudia, but the carrier is banking on a modern product and fresh branding to attract premium demand from corporate travellers, government delegations and high‑end leisure passengers. Analysts have likened the ambition behind Riyadh Air to the past rapid global expansion of Gulf carriers. Beyond Europe, the airline’s broader plans — including applications and public discussion about U.S. services — suggest a rapid expansion phase is planned. Riyadh Air’s role is tied explicitly to Saudi Arabia’s Vision 2030 economic diversification agenda, with the carrier intended to increase global connectivity and support tourism and business traffic into the Kingdom. --- ## Riyadh Air Launches Daily Boeing 787-9 Dreamliner Service From Riyadh to London Heathrow Starting July 1, 2026: Flights RX401 and RX402 Open for Public Booking as Saudi Arabia's New Airline Enters Full Commercial Operations URL: https://startupsmena.com/riyadh-air-launches-daily-boeing-787-9-dreamliner-service-from-riyadh-to-london-heathrow-starting-ju-mpg9uz9l Date: 2026-05-22 Category: tech Tags: **Summary:** The Pathway to Perfect programme that preceded this launch is itself a notable case study in airline startup methodology. By operating daily London services with the Jamila aircraft since October 2025 Riyadh Air has opened full public sales for daily nonstop service between Riyadh's King Khalid International Airport (RUH) and London Heathrow (LHR) using brand-new Boeing 787-9 Dreamliners, with commercial operations from 1 July 2026. Tickets went on sale on 19 May 2026 via the Riyadh Air app, riyadhair.com and approved travel providers. The two daily flight numbers are RX401 (RUH→LHR) departing Riyadh at 02:35 and arriving Heathrow at 07:30 local time, and RX402 (LHR→RUH) departing Heathrow at 09:35 and arriving Riyadh at 18:05. "Transforming the future of travel," Riyadh Air says, positioning its new-build 787-9 fleet as the start of the carrier's full commercial era and framing the onboard experience as an introduction to Saudi culture through cabin design and hospitality. Context and operational detail Before the July launch, Riyadh Air ran a preparatory programme — titled Pathway to Perfect — operating daily London services since 26 October 2025 using a technical spare aircraft named Jamila. Those Jamila flights were described as limited in scope and primarily targeted at internal and partner audiences to refine crew procedures, ground handling and to retain Heathrow slot positions. Jamila services will remain available for booking through approved travel partners until 30 June 2026. Airline: Riyadh Air Route: Riyadh (RUH) ↔ London Heathrow (LHR) Aircraft: Boeing 787-9 Dreamliner (new-build fleet) Frequency: Daily Commercial launch date: 1 July 2026 Ticket sales open: 19 May 2026 via Riyadh Air app, riyadhair.com and approved travel providers Preparatory operations: Daily since 26 October 2025 (Jamila, Pathway to Perfect) The 787-9 service is described as featuring a multi-cabin layout with lie-flat seating in premium cabins and "enhanced comfort" across the aircraft, with Saudi cultural touches integrated into cabin aesthetics. Riyadh Air’s tagline, "Born in Saudi. Built for the world," underlines the carrier’s ambition to compete with established Gulf premium operators on product quality from day one. Sfeer loyalty programme and booking guidance Alongside the launch Riyadh Air is promoting Sfeer, its digital-first loyalty programme, inviting travelers to enroll as Founding Members. The airline bills Sfeer as "a new way to live, explore and be rewarded." Key features publicised include non-expiring Sfeer Points redeemable for travel and lifestyle rewards, Level Points toward tier progression, and promised complimentary onboard Wi‑Fi. The carrier also offers a Best Offer Guaranteed incentive for passengers who book directly through its app or website. Passengers currently booked on Jamila services through 30 June should confirm whether bookings transition automatically to 787-9 flights on 1 July or require rebooking. For business travelers, RX401’s 07:30 Heathrow arrival enables morning meetings in London; leisure passengers will benefit from RX402’s 09:35 departure from Heathrow, avoiding predawn check-ins. As Riyadh Air moves from its Pathway to Perfect shakedown into full commercial operations, the Riyadh–London corridor will serve as the public launch platform for the airline’s new-build 787-9 fleet and the commercial rollout of Sfeer membership benefits. --- ## Saudi minister visits tech firms in Jeddah to advance digital economy push URL: https://startupsmena.com/saudi-minister-visits-tech-firms-in-jeddah-to-advance-digital-economy-push-arab-news-mpg9siuo Date: 2026-05-22 Category: tech Tags: **Summary:** Another event at Dar Al-Hekma University with Hajj minister explored AI, digital solutions to enhance pilgrim services and support startup growth · JEDDAH: Saudi Arabia’s Minister of Communications an JEDDAH — Saudi Arabia’s Minister of Communications and Information Technology Abdullah Alswaha visited technology companies Salla and Classera in Jeddah on 20 May 2026 as part of ministry efforts to accelerate the national digital economy and enable smart solutions across key sectors, including Hajj and Umrah services. During the visit Alswaha reviewed initiatives to support digital commerce, enterprise growth and smart education, and witnessed the signing of an agreement between Classera and Zain KSA to deliver integrated smart educational solutions and more interactive digital learning environments, the Saudi Press Agency reported. "The council emphasized the importance of enabling startups and investors to capitalize on opportunities in the Hajj and Umrah sectors and develop innovative business models that support the growth of the digital economy and enhance innovation in services provided to pilgrims," the Digital Entrepreneurship Council said following an event at Dar Al-Hekma University in Jeddah. Visits, partnership and technology review At Salla, Alswaha discussed opportunities to bolster digital commerce and support company and enterprise growth, with an emphasis on developing smart solutions that improve user experience and contribute to the digital economy, according to the SPA. At Classera, the minister reviewed the company’s smart education and digital capability-building offerings and its role in fostering innovation and future-skills development. Alswaha also witnessed the signing of a deal between Classera and Zain KSA intended to provide "integrated smart educational solutions aimed at developing more interactive and innovative digital learning environments," the SPA said. The agreement signals an alignment between an education-technology provider and a major telecom operator to scale digital learning tools across the Kingdom. Hajj and Umrah technology focus and startup support The Digital Entrepreneurship Council, affiliated with the Ministry of Communications and Information Technology, hosted Minister of Hajj and Umrah Tawfiq Al-Rabiah at Dar Al-Hekma University in Jeddah. The event was attended by Abdullah Alswaha and a number of entrepreneurs and investors from the Makkah region. Discussions centered on the use of technology, artificial intelligence and digital solutions to improve Hajj and Umrah experiences and enhance service quality for pilgrims. Participants toured the university’s CODE Lab, where technological solutions and digital innovations developed by entrepreneurs and startups for Hajj, Umrah and visitation services were showcased. Organizers stressed the need to enable startups and investors to seize opportunities in the Hajj and Umrah sectors, encouraging the development of scalable, innovative business models that can both support service providers and grow the digital economy. The combined visits and the Classera–Zain KSA agreement illustrate a coordinated push to pair sector-specific needs — from education to pilgrimage services — with private-sector tech capability and investment. Outlook: The ministry’s engagement with Salla, Classera, Zain KSA and the Digital Entrepreneurship Council points to continued public-private collaboration aimed at accelerating digital solutions across critical national priorities. If implemented at scale, the partnerships and startup support mechanisms showcased in Jeddah could broaden digital commerce adoption, expand edtech deployment and introduce AI-driven services tailored to pilgrims’ needs in the coming years. --- ## KFED and Hub71 launch first MZN Hub71 startup cohort URL: https://startupsmena.com/kfed-and-hub71-launch-first-mzn-hub71-startup-cohort-mpfxxz62 Date: 2026-05-21 Category: tech Tags: **Summary:** The selected founders represent sectors aligned with Abu Dhabi’s economic diversification strategy, including HealthTech, ClimateTech, FinTech, and AgriTech, alongside ventures integrating artificial Khalifa Fund for Enterprise Development (KFED) and Abu Dhabi-based Hub71 have launched the inaugural MZN Hub71 programme, selecting 17 Emirati founders for a three-month startup cohort at MZN Hub Al Ain. The inaugural cohort was chosen from more than 370 applications and focuses on priority and emerging sectors including HealthTech, ClimateTech, FinTech and AgriTech, alongside ventures integrating artificial intelligence across multiple industries. Program data shows nearly 90 percent of participating founders are under the age of 35, more than 75 percent are launching their first business ventures, female entrepreneurs make up 35 percent of the cohort, and 59 percent of selected founders were referred through partner networks established by Khalifa Fund and Hub71. “We are pleased to launch the first MZN Hub71 cohort in collaboration with Hub71; it reflects Khalifa Fund’s commitment to empowering Emirati entrepreneurs and nurturing the next generation of national enterprises. Through MZN Al Ain, we are creating a structured pathway that enables founders to transform ideas into viable businesses, strengthen their capabilities, and contribute directly to the UAE’s economic diversification goals,” said HE Khalifa Al Kuwaiti, Executive Director of the Entrepreneurship Sector at Khalifa Fund for Enterprise Development. The MZN Hub71 initiative is led by Khalifa Fund and delivered through MZN Hub Al Ain, designed to provide Emirati founders with a pathway to transform business concepts into scalable ventures while strengthening Abu Dhabi’s innovation ecosystem. The three-month programme guides founders through stages from concept creation to execution, including minimum viable product (MVP) development, market validation and launch preparation. It will culminate in a Demo Day where founders present to investors, government stakeholders and ecosystem partners. Ahmad Ali Alwan, CEO of Hub71, emphasised the strategic focus on early-stage support: “MZN Hub71 reflects the growing momentum among Emirati founders building ventures from Abu Dhabi. This cohort brings together an impressive group of founding teams developing timely solutions well positioned to enter the market. At Hub71, we are proud to support founders from the earliest stages, helping them build strong foundations, validate their ideas, and scale their businesses.” The cohort’s sector mix aligns with Abu Dhabi’s economic diversification priorities: HealthTech initiatives target improved healthcare delivery and digital health tools; ClimateTech projects address sustainability and clean energy adoption; FinTech ventures aim at financial inclusion and digitised services; while AgriTech teams focus on food security and efficiency. Several startups explicitly incorporate artificial intelligence to enhance product capabilities and market fit across these verticals. Organisers say the programme’s partner-driven referral model played a central role in identifying talent, with 59 percent of cohort members entering via networks developed by KFED and Hub71. Beyond the three-month curriculum, participating founders will retain access to Abu Dhabi’s wider innovation ecosystem, including capital networks, commercial opportunities and strategic support intended to help scale ventures regionally and internationally. What comes next Completion of the three-month MZN Hub71 programme and a Demo Day presentation to investors and stakeholders. Ongoing access to Abu Dhabi capital networks and commercial partnership opportunities for participating founders. Continued ecosystem collaboration between Khalifa Fund and Hub71 to identify, refer and support emerging Emirati entrepreneurial talent. --- ## Dubai and Abu Dhabi at the Center of Global Opportunity as Their Definitive Digital Identities Enter Placement Process URL: https://startupsmena.com/dubai-and-abu-dhabi-at-the-center-of-global-opportunity-as-their-definitive-digital-identities-enter-mpfuy83y Date: 2026-05-21 Category: tech Tags: **Summary:** Representing the digital identities ... wealth funds, institutional investors, national champions, and global platform operators aligned with long-term regional growth strategies. Two Cities. Two Glob Omni World Media has opened a selective placement process for two of the most prominent geographic domains in the world—Dubai.com and AbuDhabi.com—under an exclusive brokerage mandate led by veteran domain strategist Fred Mercaldo. The announcement, issued via EINPresswire on May 18, 2026 from Scottsdale, AZ, confirms the domains will be marketed only through private, invitation-only discussions with a curated list of qualified parties, with this press release the sole public communication about their availability. “This is one of the most meaningful assignments of my career,” said Fred Mercaldo, Founder and CEO of Omni World Media. “To represent Dubai.com and AbuDhabi.com is not simply about facilitating a transaction—it is about helping determine the long-term digital stewardship of two of the most important cities in the world.” Context and details Omni World Media describes Dubai.com and AbuDhabi.com as "definitive digital expressions" of two globally recognized cities and positions them as generational, category-defining digital assets. The firm says the domains could be developed into global demand engines for tourism and travel, centralized platforms for investment and real estate, national digital infrastructure layers for media and commerce, and longer-term strategic assets aligned with sovereign wealth and national development strategies. The brokerage emphasizes scarcity and platform potential: exact-match city and national domain names offer permanent ownership, global recognition, direct traffic acquisition, and platform-level monetization opportunities. According to the release, Omni World Media will not run a broad public marketing campaign; all subsequent engagement will be confidential and limited to a "carefully curated group of highly qualified counterparties aligned with the long-term strategic positioning of these assets." Sovereign wealth funds and government-linked entities National tourism and economic development authorities Global hospitality, aviation, and infrastructure operators Institutional investors and family offices Strategic technology and media platforms Mercaldo stressed that the process will prioritize strategic alignment over expediency: "Our objective is not to ‘sell’ these assets in the traditional sense. It is to ensure they are placed into the hands of organizations or institutions that view them as long-term infrastructure—platforms capable of supporting economic growth, global engagement, and national identity for decades to come." The release repeats the positioning line "Two Cities. Two Global Gateways. One Strategic Opportunity." Outlook By treating Dubai.com and AbuDhabi.com as long-term infrastructure rather than short-term commercial properties, Omni World Media is targeting buyers with mandates tied to national development and generational stewardship. The firm invites confidential inquiries from qualified parties to FM@OmniWorldMedia.com and signals that each discussion will be conducted under strict confidentiality with the objective of identifying a steward capable of realizing the domains’ platform potential. The move highlights an evolving market for premium geographic digital real estate, where exact-match domain ownership is framed not just as branding or marketing, but as an element of sovereign and institutional strategy in the digital era. --- ## Y Combinator startups offered $2M in OpenAI tokens for equity by Sam Altman URL: https://startupsmena.com/y-combinator-startups-offered-2m-in-openai-tokens-for-equity-by-sam-altman-eciksorg-mpfuuv9x Date: 2026-05-21 Category: tech Tags: **Summary:** The token allocation effectively ... startups: the cost of computing resources and API usage. Jeff Bezos tax proposal: eliminate federal income taxes for bottom 50% of earners · Kraken secures VARA li OpenAI CEO Sam Altman announced on May 20, 2026 that OpenAI will provide $2 million in API token credits to every startup in Y Combinator’s current batch in exchange for a small equity stake. The offer, delivered during a Y Combinator event, covers the entire cohort and converts a familiar cash-led early-stage financing element into a compute-first package: instead of immediate cash, startups receive access to OpenAI’s GPT-4 models, Vision capabilities and custom fine-tuning features to accelerate product development. Altman’s case in one sentence "I am excited to see what will happen when every YC founder has access to OpenAI's best models without worrying about compute costs in the early stage." — Sam Altman, CEO and Co-founder, OpenAI, May 20, 2026. Context and details The move positions OpenAI alongside Y Combinator’s traditional funding model rather than replacing it. Historically, Y Combinator invests $500,000 in equity at a standard 7% stake plus incremental equity for future rounds; OpenAI’s package offers $2 million worth of compute instead. Industry analysis cited by the announcement estimates Y Combinator’s Spring 2026 batch at approximately 100+ startups, implying an aggregate token commitment exceeding $200 million. Offer: $2,000,000 in OpenAI API credits per YC startup, announced May 20, 2026. Coverage: Entire current Y Combinator batch (approximately 100+ startups). YC historical investment: $500,000 for ~7% equity. API pricing referenced: GPT-4 Turbo at $0.01 per 1,000 input tokens and $0.03 per 1,000 output tokens; GPT-4o operates at lower rates. OpenAI’s credits are unrestricted across API calls, batch processing, fine-tuning and Assistants, which the company says allows founders to use credits for model experimentation, data processing and product iteration. At the cited API rates, $2 million can provide substantial runway: the source suggests 6–18 months of compute for heavy inference applications such as AI search engines or chatbots, and 12–24 months for intensive experimentation depending on scale. Critics warn the compute-for-equity model creates lock-in: startups that build fully on OpenAI’s stack may face switching costs and exposure to future pricing or product changes. Supporters counter that early-stage access to production-grade models offsets the trade-off during product-market fit. Outlook Strategically, the program is a bet on platform dominance: by seeding a full YC cohort with compute, OpenAI aims to become default infrastructure for a generation of AI startups. Competitors such as Anthropic and Google have their own startup grants, but none have matched the per-startup scale disclosed here. A key unanswered question remains how pricing will evolve after credits are exhausted; OpenAI has not specified whether participating startups will receive preferential commercial rates or extended credits. Industry precedent points to a likely shift to standard enterprise contracts with volume discounts as usage scales. Regardless, the offer formalizes “compute as venture capital” as a growing currency in AI funding, reframing the early-stage calculus around infrastructure access as much as cash runway. --- ## Dubai unveils new $410m economic support package for businesses URL: https://startupsmena.com/dubai-unveils-new-410m-economic-support-package-for-businesses-arab-news-mpfngr7m Date: 2026-05-21 Category: other Tags: economic support, dubai, government, incentives **Summary:** Dubai approved a 1.5 billion dirham ($410 million) economic support package comprising 33 initiatives across tourism, trade, education, transport and customs to ease costs for businesses, with measures lasting three to 12 months. The package brings total recent incentives to 2.5 billion dirhams and aims to strengthen economic resilience amid global uncertainty. Dubai has approved a 1.5 billion dirham ($410 million) economic support package designed to ease costs for businesses and bolster the emirate’s economic resilience amid global uncertainty. The package, ratified by Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, comprises 33 initiatives across tourism, trade, education, transport and customs services, with measures scheduled to remain in place for between three and 12 months. The announcement brings the total value of economic incentives introduced by Dubai in under two months to 2.5 billion dirhams, following an earlier 1 billion dirham package unveiled in March. Direct quote In an X post, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: “Dubai has built a model that transforms challenges into opportunities for growth.” He added: “We remain committed to strong public-private partnerships and maintaining close engagement with the community and business sector, taking every decision needed to support society, strengthen economic resilience, and reinforce Dubai’s position as a global economic hub.” Context and details The new measures target sectors hit by rising costs and regional tensions, including disruptions linked to the US-Iran war. Key elements of the package include: Tourism: exemptions from the Tourism Dirham collection and municipal fees on hotel room and restaurant sales, plus waivers of permit, postponement and cancellation fees for events. Commerce: two-year extensions on membership licenses for small and medium enterprises registered with the Mohammed bin Rashid Establishment, exemptions and reductions on sales and promotional offer fees, and a reduction in final retention security for supply contracts from 10 percent to 2 percent. Education: exemptions and facilitations for early childhood centres, and deferral and instalment plans for license renewal fees and fines for private educational institutions. Customs: facilities to pay outstanding import amounts in instalments and an 80 percent reduction in fines for customs cases. Transport and aviation: deferrals for sector payments and exemptions from specific fines, together with a 50 percent reduction in fees for renewing civil aviation activity permits. Measures are predominantly temporary, running between three and 12 months, intended to provide immediate relief while authorities monitor economic conditions. Outlook The package complements a separate financial resilience plan rolled out in March by the Central Bank of the UAE, which provided easier access to liquidity, temporary relief on funding and capital buffers, and flexibility for loan classifications to support banking sector stability. Together, these steps are intended to ease financial pressures on businesses and families, improve economic flexibility and support continuity in key sectors. Dubai’s leadership has signalled that targeted, time-bound incentives and coordination with the private sector will be used to manage short-term shocks. With total support measures now standing at 2.5 billion dirhams in under two months, authorities say they will continue to assess needs and engage closely with the business community to maintain the emirate’s economic momentum. --- ## Primark Plans Abu Dhabi Entry After Blockbuster Dubai Launch as Alshaya Accelerates UAE Expansion URL: https://startupsmena.com/primark-plans-abu-dhabi-entry-after-blockbuster-dubai-launch-as-alshaya-accelerates-uae-expansion-mpfmejfx Date: 2026-05-21 Category: tech Tags: **Summary:** Primark accelerates UAE growth as Alshaya plans Abu Dhabi entry after a blockbuster Dubai launch, surging sales and high demand for its value fashion. Primark is set to enter Abu Dhabi after a blockbuster Dubai launch that drew roughly 1 million shoppers and sold about 4 million items across three large-format stores, parent company Alshaya Group said. Alshaya confirmed it is in talks with major landlords in the emirate and expects to announce plans “certainly within the next 12 months,” accelerating its original UAE rollout after the retailer exceeded expectations in Dubai. “We want to be more aggressive and grow quicker than what we originally planned,” John Hadden, chief executive of Alshaya Group, told Gulf News, signalling a faster expansion timetable for Primark and other Alshaya brands across the UAE and wider Gulf region. Launch performance and consumer response Primark opened three large-format stores in Dubai in less than eight weeks, including sites at City Centre Mirdif, Dubai Mall and Mall of the Emirates. Hadden said the retailer has served 1 million customers and “We’ve sold 4 million units,” adding that “10 per cent of that is pajamas. So, we sold 400,000 sets of pajamas.” Hadden noted that Dubai shoppers already knew the global brand, but the in-market experience amplified the appeal: “Prices are the same as in Europe… I don’t think they appreciated necessarily the price proposition… and also the quality of the product and the fashionability of the product.” He singled out City Centre Mirdif as a standout performer: “The real nice part has been Mirdif. That store has done particularly well for us.” Logistics, stock and store format challenges High demand has forced Alshaya to modify supply routes and use air freight for replenishment: “We then have charted a couple of airplanes… because we had to,” Hadden said. Primark’s usual sea-freight route via Jebel Ali has been supplemented by diversions through Jeddah, Salalah and Egypt, with goods trucked into the UAE. Alshaya highlighted that Primark requires large-format footprints, creating a challenge for expansion in Abu Dhabi where “big space is difficult to find.” Hadden defended the higher logistics costs on margin grounds: “It’s a volume business. As long as we get in the volume, we can afford to do what we do.” Regional rollout and broader Alshaya investments Beyond Abu Dhabi, Alshaya confirmed two more Primark openings this year: Bahrain in October and Qatar around October–November. Hadden said the group will continue to explore more Dubai sites into next year, though nothing else is confirmed yet. Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, welcomed the partnership, saying: “We saw an incredible response following Primark’s opening at City Centre Mirdif, so it’s exciting to now bring the brand to Mall of the Emirates… as part of our growing partnership with Alshaya Group.” He noted City Centre Bahrain will be the next step in the rollout. Alshaya is also broadening its UAE footprint beyond retail. The group announced a 480,000-square-foot mixed-use joint venture in Dubai Hills with Brookfield Properties, which will include Grade A office space, residential units and retail. Hadden said construction is expected to begin within the next 12 months and that Alshaya plans to relocate its UAE office to the development once complete. Alshaya entered the UAE in 1985 and now operates more than 700 stores in the country, with Primark and other recent launches such as Ulta Beauty forming part of the group's accelerated expansion strategy in the region. --- ## Egypt’s GrowthLabs acquires Startup Gate in $660k deal URL: https://startupsmena.com/egypts-growthlabs-acquires-startup-gate-in-660k-deal-disrupt-africa-mpfkdnwp Date: 2026-05-21 Category: tech Tags: **Summary:** Egypt’s GrowthLabs, a leader in digital ecosystem building, has acquired Startup Gate, a hub connecting founders, investors, and mentors, in a EGP35 million (US$660,000) deal. Egypt’s GrowthLabs has acquired Startup Gate in a EGP35 million (US$660,000) deal, bringing together a digital ecosystem builder and a community-focused startup hub to create an integrated platform for founders, investors and mentors. GrowthLabs — known for its work in building and scaling startup ecosystems and for its "Catalyst OS" offering — said the acquisition will deliver end-to-end digital solutions that support the full lifecycle of startups, from opportunity discovery to investment readiness. “This acquisition embodies our vision to construct an integrated entrepreneurial infrastructure that yields a profound, far-reaching impact on the broader economy. We are establishing a unified digital infrastructure that empowers every stakeholder within the ecosystem to operate with heightened connectivity and efficiency,” said Islam Mohamed, CEO of GrowthLabs. “Our objective is to deliver a systematic and sustainable impact through an operating system that nurtures the journey of startups from inception to expansion, ensuring they generate tangible market value. Fostering a transparent and supportive environment for startups is a direct catalyst for job creation, investment stimulation, and accelerating the engine of economic growth.” Details of the deal and product offering Startup Gate, originally initiated by venture studio Aria Ventures and later spun off after attracting seed funding from M-Empire, is positioned as a central link in entrepreneurial communities—connecting founders, mentors, and capital. GrowthLabs says the acquisition creates a “first-of-its-kind” entity that combines Startup Gate’s community networks with GrowthLabs’ technology stack and advisory capabilities. Transaction value: EGP35 million (US$660,000). Core GrowthLabs technology: Catalyst OS, an offering to support incubators and institutions managing innovation programmes. Intended capabilities: real-time data and analytics across the full startup journey, from company registration to investment readiness. Target users: entrepreneurs, innovation-driven corporates, universities, angel investors and venture capital firms. Programme support: opportunity discovery, networking, access to funding, incubation, acceleration and innovation support programmes. GrowthLabs framed the acquisition as a move to provide a seamless pathway that accelerates founder growth by delivering data-driven insights and connectivity. The combined platform is expected to aggregate community engagement with digital tools to surface opportunities, improve matchmaking between founders and capital, and streamline readiness for investment. Outlook The company said the deal strengthens GrowthLabs’ position to lead the regional innovation landscape and sets the stage for geographic expansion across the Gulf and Africa in 2026. By aligning a network-led marketplace with an operating system approach, GrowthLabs aims to position itself as a strategic partner for governments pursuing digital transformation and entrepreneurship-led economic growth. As GrowthLabs integrates Startup Gate’s community assets with its Catalyst OS and advisory services, the immediate test will be whether the platform can translate connectivity and analytics into measurable increases in funding flow, company formation and job creation across the markets it targets. --- ## Thndr becomes 1st Egyptian company to top Financial Times' fastest-growing list in Africa URL: https://startupsmena.com/thndr-becomes-1st-egyptian-company-to-top-financial-times-fastest-growing-list-in-africa-egypt-indep-mpfkbjo6 Date: 2026-05-21 Category: tech Tags: **Summary:** In an unprecedented achievement for the Egyptian fintech sector, Thndr, a leading retail investment appliation platform, has secured the top spot in the Financial Times' ranking of the fastest-growing Thndr has become the first Egyptian company to top the Financial Times’ ranking of the fastest-growing companies in Africa for 2026, the FT report compiled with Statista shows. The Cairo-founded retail investing platform earned the number one spot after performance measured across three growth dimensions for 2021–2024: absolute revenue growth, compound annual growth rate (CAGR) and structural expansion of company size. The recognition places Thndr ahead of established technology players in markets including South Africa, Kenya and Nigeria. "The Financial Times report highlighted Thndr's success in transforming investment from an 'elite luxury' into a 'popular savings tool,'" the coverage notes, calling out the platform's fully digital onboarding and product mix as central to its appeal. Context and key metrics Thndr’s rise coincides with a rapid expansion of retail participation in Egypt’s capital markets. The app has surpassed 5.5 million downloads and reports that 75 percent of its users are first-time investors. Historically, retail investors in Egypt made up less than 0.5 percent of the population, making this shift particularly notable. Market impact: Thndr accounts for approximately 18 percent of the total value of stock trading on the Egyptian Stock Exchange and controls about 40 percent of the volume of orders executed. Trading activity: The platform now executes more than 200,000 trades daily, up from roughly 50,000 a year earlier. User demographics: More than 40 percent of users live outside Cairo and Alexandria; average user age is 30; women represent 12 percent of accounts—reported as a record high compared with traditional participation rates. Product and service features: 100 percent digital account opening, access to stocks, gold, mutual funds and fixed-income instruments, and extensive educational content aimed at beginners. The Financial Times coverage also credited Thndr with delivering "geographical and social equity" in access to financial markets by bringing investing tools to younger and more geographically dispersed populations. The platform’s educational resources and intuitive interface were singled out as drivers that lower barriers for first-time savers and investors. Regional expansion and outlook Thndr has already begun using its domestic momentum as a regional springboard. The company entered the Abu Dhabi market in 2025 and became the first and only fully licensed remote trading broker on the Abu Dhabi Securities Exchange, according to the report. Its next stated target is the Saudi market, where Thndr aims to replicate its model of expanding individual participation and opening access to global financial instruments. As the platform seeks to extend beyond Egypt, the FT-Statista accolade provides validation for investors and regulators watching retail market growth across the Arab world. The recognition was presented in an edited translation from Al-Masry Al-Youm and reported by Egypt Independent, underscoring Thndr’s transition from local startup to a defining player in regional retail finance. --- ## How Saudi Arabia's Sovereign Wealth Fund Became the Deciding Investor for Three Struggling EV Startups URL: https://startupsmena.com/how-saudi-arabias-sovereign-wealth-fund-became-the-deciding-investor-for-three-struggling-ev-startup-mpfkfzum Date: 2026-05-21 Category: tech Tags: **Summary:** A struggling startup experiences a certain kind of silence just before a wealthy individual enters. Investors cease answering phones. Press releases become more ambiguous. Engineers start making chang Saudi Arabia’s sovereign wealth vehicle, the Public Investment Fund (PIF), has repeatedly acted as the deciding investor for electric vehicle companies that other markets had largely written off, deploying billions to keep projects alive. The most prominent example is Lucid Motors, which the PIF first backed in 2018 with $1.3 billion and has since injected further capital: about $10 billion in total investment to date and an additional $1.5 billion last summer. The fund still owns more than 60% of Lucid. Similar interventions have followed at Ceer Motors, the Foxconn joint venture, and a Hyundai joint venture in Saudi Arabia in which the PIF holds a 70% stake. "A resounding endorsement," Lucid CEO Peter Rawlinson called the $1.5 billion top-up last year — language the company used to characterise a round of funding that many in the market equate with life support. Three cases, one pattern The pattern is consistent: when private capital and established industry backers step away, the PIF often steps in. In Lucid’s case the intervention came after a bruising 2018 period in which the company was running out of runway, courting Ford, and embroiled in a stake dispute with Faraday Future’s founder. The PIF’s initial $1.3 billion commitment saved the company from collapse and set a precedent for further capital allocation. Lucid Motors: PIF provided $1.3 billion in 2018, has invested roughly $10 billion in total and added $1.5 billion last summer; PIF owns more than 60%. Ceer Motors: a domestic Saudi brand launched as a joint venture with Foxconn in late 2022; Reuters reporting cited in Financial News says it was unlikely to have a car on the road before this year and "hasn't shipped a single one yet." Hyundai joint venture: PIF owns 70% and the factory is expected, once open, to produce 50,000 vehicles annually. The on-the-ground picture is mixed. Lucids assembled from Arizona kits are a common sight in Saudi showrooms, but production has lagged: as of late 2024, only about 800 cars had been put back together at the nearby Lucid plant, well short of the kingdom’s declared ambition of producing 500,000 EVs a year by 2030. The Hyundai project’s planned 50,000‑vehicle annual output after its factory opens is far below the capacity Lucid’s facility was designed to reach, underlining a disconnect between capacity and current sales or rollout. Observers quoted by Financial News say the PIF’s deployments are less about immediate commercial returns and more about securing strategic optionality and sustaining the narrative of a post‑oil economy promoted by Crown Prince Mohammed bin Salman. The article notes that "it almost doesn't matter if the cars sell" so long as Vision 2030 does not "appear to be a bluff." Outlook The immediate future for Lucid, Ceer and the Hyundai venture remains uncertain. PIF’s role is clear: it has repeatedly been willing to be "the last person in the room" when EV companies hit the wall, writing checks that other markets refuse to write. Whether those injections translate into sustainable consumer demand, profitable manufacturing and full production ramps — or merely prolong company lifetimes — will determine whether these interventions are transitional rescues or long‑term market bets that pay off. --- ## Sphere Entertainment secures $1.7B investment from Abu Dhabi for first international venue URL: https://startupsmena.com/sphere-entertainment-secures-17b-investment-from-abu-dhabi-for-first-international-venue-music-busin-mpfgcw9s Date: 2026-05-21 Category: tech Tags: **Summary:** The venue will built on a plot of land between Yas Mall and SeaWorld Abu Dhabi. Sphere Entertainment Co. has secured a USD $1.7 billion investment from Abu Dhabi’s Department of Culture and Tourism (DCT Abu Dhabi) to fund the construction phase of Sphere Abu Dhabi, the company’s first venue outside the United States. The NYSE‑listed company (SPHR) will not be putting up its own capital for construction under the deal, which follows a franchise model announced in October 2024 and sets completion for the project by the end of 2029. The site is a plot of land between Yas Mall and SeaWorld Abu Dhabi on Yas Island and the venue will have a capacity of up to 20,000, echoing the scale of Sphere in Las Vegas. "In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction," said HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi. James L. Dolan, Executive Chairman and CEO of Sphere Entertainment, called the project "the first step in realizing our vision for a global network of venues." Dolan noted Abu Dhabi's infrastructure and global position as reasons the emirate is "a natural home for Sphere." Dolan also serves as Executive Chairman and CEO of Madison Square Garden Entertainment. The agreement follows an earlier disclosure that DCT Abu Dhabi would pay Sphere a "franchise initiation fee" for rights to the company’s proprietary designs, technology and intellectual property. The newly announced $1.7 billion figure specifically covers construction costs, marking a significantly larger funding commitment than Sphere's other announced international projects. Location and capacity: Yas Island, between Yas Mall and SeaWorld Abu Dhabi; capacity up to 20,000. Programming model: three main categories — proprietary Sphere Experiences, concert residencies, and marquee/brand events. Local content plans: Sphere Experiences conveying Emirati culture, Emirati artists’ work displayed on the Exosphere (the spherical LED exterior), and concerts featuring local, Arabic and global artists. The venue will host "Sphere Experiences," immersive multi‑sensory productions, alongside concert residencies and one‑off marquee events. Plans specifically call for the Exosphere to display work by Emirati artists and for the venue to be used as a stage for Emirati culture and storytelling "shared with the world on the grandest stage ever built," Al Mubarak said. Sphere’s international expansion has seen mixed results: a proposed London Sphere was scrapped in January 2024 after opposition from then‑Mayor Sadiq Khan, while a smaller, 6,000‑capacity Sphere at National Harbor in the Washington, D.C. area is planned with roughly $200 million in state, local and private incentives. The first Sphere opened in Las Vegas in September 2023 and has hosted residencies by the Eagles, Dead & Company, Phish, the Backstreet Boys and Kenny Chesney; Metallica has announced a 24‑concert residency beginning October 2026. Outlook Financially, Sphere Entertainment reported revenues of $386.4 million in Q1 2026, up 38% year‑on‑year, with its Sphere segment generating $266.0 million (up 69% YoY). For full‑year 2025 the company posted revenues of $1.22 billion, an 8% increase year‑on‑year. With Abu Dhabi underwriting construction, Sphere Abu Dhabi is positioned as a marquee cultural and commercial asset for Yas Island — which already hosts Ferrari World, Warner Bros. World and the Formula 1 Etihad Airways Abu Dhabi Grand Prix — and is slated to open by the end of 2029. --- ## Abu Dhabi's $13 billion AI strategy to build world’s first fully automated government URL: https://startupsmena.com/abu-dhabis-13-billion-ai-strategy-to-build-worlds-first-fully-automated-government-mpfgeyhs Date: 2026-05-21 Category: tech Tags: **Summary:** Abu Dhabi has announced a major transformation plan that aims to make it the world’s first fully AI-native government across all digital services by 2027, according to the Department of Government Ena Abu Dhabi has unveiled a AED 13 billion investment plan to transform its public sector into the world’s first fully AI-native government across all digital services by 2027, the Department of Government Enablement (DGE) said. The Abu Dhabi Government Digital Strategy, scheduled for 2025–2027, aims to deploy more than 200 AI solutions, achieve “100% adoption of sovereign cloud computing,” and roll out a unified digital enterprise resource planning (ERP) system to integrate government functions. "AI for All" programme is one of the key components of the strategy, the DGE said. The initiative combines large-scale technology financing, infrastructure upgrades and workforce development. The DGE’s published plan allocates AED 13 billion between 2025 and 2027 to technology development, infrastructure and digital transformation, and sets targets that include the end-to-end digitisation and automation of government operations. Officials expect the programme to contribute more than AED 24 billion to Abu Dhabi’s GDP by 2027 and create over 5,000 jobs, particularly in digital services, artificial intelligence and technology-related fields. Key elements of the digital strategy Technology roll-out: more than 200 AI solutions aimed at reducing manual processes and improving efficiency across departments. Cloud and platforms: a push for "100% adoption of sovereign cloud computing" and development of TAMM 3.0 as the government’s digital backbone. Systems integration: development of a unified ERP to consolidate government functions onto a single platform. Workforce and research: the "AI for All" training programme and collaborations with Mohamed bin Zayed University of Artificial Intelligence to upskill staff and support research. Partnerships: engagement with the Advanced Technology Research Council (ATRC) on large language model research and technology partners such as G42 to build AI capabilities. Security: strengthened cybersecurity frameworks to protect systems and data across departments. Collaboration with academic and research bodies sits at the centre of the plan. The Mohamed bin Zayed University of Artificial Intelligence will support upskilling programmes and research, while the Advanced Technology Research Council (ATRC) is assisting in research for large language models and other sophisticated AI technologies. Private-sector technology group G42 is also named as an active participant in developing Abu Dhabi’s AI and digital capacities. Government platforms are being retooled for the AI era: the report highlights development of TAMM 3.0, envisioned to serve as an advanced, cloud-native backbone for digital citizen services and internal workflows. The strategy follows earlier phases of digitisation in the emirate — from e-government to smart government — and now seeks to operationalise artificial intelligence across service delivery. Officials argue the plan balances ambition with resilience: alongside automation targets and economic projections, the strategy includes a focus on cybersecurity to secure data and maintain reliable digital operations. With a multi-billion-dirham commitment, Abu Dhabi is positioning itself to not only automate public services but to incubate an AI-skilled workforce that can support sustained digital transformation. --- ## ‘Win Your Home in Dubai’ launches with 12 residential units up for grabs URL: https://startupsmena.com/win-your-home-in-dubai-launches-with-12-residential-units-up-for-grabs-mpfghi3u Date: 2026-05-21 Category: tech Tags: **Summary:** Dubai launches ‘Win Your Home in Dubai’, a 12-week citywide initiative transforming retail spending into opportunities to win residential units across the emirate. Dubai has launched a 12-week, citywide retail-to-property initiative titled “Win Your Home in Dubai”, offering shoppers the chance to convert everyday spending into entries to win one of 12 residential units across the emirate. Running from 22 May to 30 August 2026, the programme is led by the Dubai Festivals and Retail Establishment (DFRE), part of the Dubai Department of Economy and Tourism (DET), in partnership with Dubai Chambers and Binghatti Developers, the exclusive real estate partner supplying the prize units. Residents and visitors aged 18 and above can enter by spending a minimum of Dh500 at participating outlets; the campaign covers more than 1,000 brands and over 3,500 retail outlets across Dubai. "The campaign’s digital-first approach reflects Dubai’s broader retail transformation strategy," organisers said, stressing the initiative's reliance on QR-code scans and digital receipt uploads to validate entries and automatically register additional Dh500 increments as further entries. How the scheme works Participation is designed to be simple and cumulative. Key mechanics include: Minimum spend: Dh500 at any participating outlet to unlock one entry. Digital validation: Scan a QR code and upload the receipt through the campaign’s official process to confirm an entry. Multiple entries: Every additional Dh500 spent generates extra entries; entries remain valid across the full 12-week duration. Eligibility: Open to residents and visitors aged 18 and above. The prize pool supplied by Binghatti Developers comprises 11 studio apartments and one two-bedroom apartment. One studio will be awarded each week throughout the 12-week run, with the two-bedroom unit announced during the final week as the grand prize. Organisers have positioned the initiative to coincide with peak retail moments—Eid Al Adha, the 3 Day Super Sale and Dubai Summer Surprises—to maximise consumer engagement and footfall. DFRE, Dubai Chambers and DET framed the campaign as both a retail stimulus and a wider economic confidence measure. According to the TravelsDubai report, organisers said the collaboration aims to "strengthen consumer confidence, support business activity and enhance footfall across key retail destinations," while linking everyday retail behaviour to an aspirational path to homeownership in Dubai. Context and expected impact With more than 3,500 participating outlets and upward of 1,000 brands enlisted, the campaign seeks to maintain sustained engagement through weekly draws and a final grand prize. The format is explicitly designed to encourage repeat spending by allowing entrants to accumulate chances over the full programme. DFRE leadership highlighted Dubai’s positioning as a place "where global residents come to build futures and invest in long-term stability," and Binghatti Developers emphasised the symbolic connection between homeownership and belonging in Dubai’s urban landscape. As the 12-week campaign unfolds, organisers expect it to generate momentum across retail, tourism and property sectors, reinforcing Dubai’s status as a global shopping destination while testing a cross-industry model that ties everyday consumption to tangible long-term rewards. --- ## Dubai Reinforces Role as Global Growth Platform for Indian Businesses With 3,995 New Companies Joining Dubai Chamber of Commerce in Q1 2026 URL: https://startupsmena.com/dubai-reinforces-role-as-global-growth-platform-for-indian-businesses-with-3995-new-companies-joinin-mpfganju Date: 2026-05-21 Category: tech Tags: **Summary:** The UAE leadership's forward-looking ... environment for growth and expansion." Ved added: "Dubai today is far more than a regional hub; it is one of the world's leading global cities, attracting inve Dubai reinforced its role as a global growth platform for Indian businesses after the Dubai Chamber of Commerce reported that 3,995 new Indian companies joined the chamber in Q1 2026. The influx brought the total number of Indian companies registered as active members of Dubai Chamber to 84,088 by the end of March 2026, cementing India as the largest foreign business community in Dubai and underscoring growing commercial ties between the two markets. "In an increasingly complex global economy, companies are placing greater value on markets that provide clarity, reliability, and the ability to keep enterprise moving," said H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. "The continued growth of Indian businesses underlines the trust they place in Dubai as a platform for long-term success. The emirate provides the infrastructure, agility, and connectivity companies need to grow with confidence, even as global conditions continue to evolve." Context and details The membership surge was announced by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, reflecting a continued appetite among Indian firms to use Dubai as a base for regional and international expansion. Authorities and business leaders cited policy stability, logistical strengths and targeted incentives as drivers of the trend. Economic incentives: The Government of Dubai announced an AED 1 billion package of economic incentives in March intended to ease financial pressures and boost liquidity for businesses operating in the emirate. Logistics and connectivity: Dubai's logistics ecosystem — including robust air cargo capacity, alternative maritime routes via Khorfakkan and Fujairah, and a temporary green corridor between Dubai and Oman — was highlighted as supporting uninterrupted trade flows. Market access and support: Dubai International Chamber maintains offices in Mumbai and Bengaluru to assist Indian companies in establishing and scaling operations in Dubai. Senior business figures from the Indian community emphasised the emirate's role as a reliable platform. Dr. Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, said: "For 39 years, the UAE has been the launchpad for our global ambitions. What I have come to deeply appreciate is the visionary leadership. Through every crisis and shift in the global landscape, the UAE government has stood shoulder to shoulder with the business community, offering continuity, security, clarity, and unwavering support." Siddharth Balachandran, Chairman of Indian Business and Professional Council, said Dubai is "a rare 'constant' in this ever changing, and often chaotic, world" and credited ongoing government-industry dialogue for strengthening investment valuations. Nilesh Ved, Chairman of AppCorp Holding and Owner of Apparel Group, added: "For Indian businesses operating globally, stability and agility matter as much as opportunity and Dubai continues to lead on both fronts." Ved described Dubai as "one of the world's leading global cities, attracting investment, innovation, startups, and talent from across the world." Outlook With nearly 4,000 new Indian members joining the chamber in the first quarter and institutional support continuing from both Dubai Chambers and Dubai International Chamber offices in India, Dubai appears positioned to remain a primary gateway for Indian companies seeking regional scale and global market access. Policymakers' recent fiscal support and the emirate's logistics resilience are likely to be key factors as businesses evaluate expansion and continuity plans through 2026. --- ## UAE Strengthens Position as Hub for Company Formation, Entrepreneurship URL: https://startupsmena.com/uae-strengthens-position-as-hub-for-company-formation-entrepreneurship-entrepreneur-middle-east-entr-mpfg63vp Date: 2026-05-21 Category: tech Tags: **Summary:** Among the government initiatives ... connecting startups with investors and partners to help them scale; and the Mohammed bin Rashid Innovation Fund, which supports entrepreneurs and innovators throug The United Arab Emirates has reinforced its standing as a global hub for company formation and entrepreneurship, propelled by legislative reforms, upgraded digital infrastructure and a cluster of state-backed support mechanisms, industry specialists told Entrepreneur Middle East. The UAE ranked first in the Global Entrepreneurship Monitor Report 2025–2026 for the fifth consecutive year and placed among the top five globally in the StartupBlink Global Startup Ecosystem Index, ranking first regionally — credentials officials and executives say are translating into stronger inbound company formation and faster scaling for startups. "the UAE’s strategic location linking Europe, Asia and Africa has helped strengthen its role as a base for trade and investment, supported by air connectivity that enables access to global markets," said Diana Cichy, Founder and Chief Executive Officer of CICHE International Trade and Investment. Context and ecosystem details Policy changes such as expanded free zones, full foreign ownership and residency incentives are cited as practical enablers for entrepreneurs and international founders. Diana Cichy also highlighted government initiatives to expand the use of artificial intelligence in public services and to strengthen private sector readiness for AI as part of "long-term efforts to modernize the economy." Executives in finance and risk echoed those strategic shifts. Willem van Wyk, Managing Director of HDI Global’s Dubai office, said the UAE "has developed into a regional fintech hub, supported by institutions such as the Central Bank of the UAE, Dubai International Financial Centre and Abu Dhabi Global Market." Van Wyk added that startup success is now increasingly measured by "the ability to scale securely and sustainably" as embedded finance, artificial intelligence and open finance models expand across the region. Aaqib Gadit, Founding Partner at Disrupt.com, pointed to the operational advantages for startups: "the UAE offers startups access to capital, infrastructure, and global markets, adding that the company chose to operate in the UAE over hubs such as San Francisco and London due to fewer barriers in setting up and scaling businesses." Emirates Growth Fund — supports expansion of Emirati companies in manufacturing, food and agriculture, healthcare and advanced technology. Khalifa Fund — provides financing and business support services for small and medium-sized enterprises. Hub71 — described as a global tech ecosystem that connects startups with investors and partners to help them scale. Mohammed bin Rashid Innovation Fund — offers funding and advisory programmes to entrepreneurs and innovators. Dubai Entrepreneurs Campus — a joint initiative between Dubai Department of Economy and Tourism and Dubai Chamber of Digital Economy; recently completed the first phase of its business accelerator programmes. Outlook With repeated top rankings in global entrepreneurship indexes and a growing suite of funds and accelerators, the UAE’s focus appears to be shifting from attraction alone to measurable scaling and resilience. Stakeholders emphasise secure, sustainable growth as fintech, AI and open finance frameworks evolve, while government programmes from capital support to accelerator pipelines aim to convert favourable policy into long-term, exportable businesses. For founders weighing global locations, executives say a combination of market access, regulatory clarity and targeted funding is tilting decisions toward the UAE. --- ## Europe's Exploration Company seeks UAE investors for $200m financing round URL: https://startupsmena.com/europes-exploration-company-seeks-uae-investors-for-200m-financing-round-the-national-mpfg3wp6 Date: 2026-05-21 Category: tech Tags: **Summary:** The UAE, the Arab-world’s second-largest economy, is home to some of the largest sovereign wealth funds, including Adia, Mubadala Investment Company and Li’mad Holding in Abu Dhabi as well as the Inve The Exploration Company (TEC), a European aerospace start-up with a presence in the UAE, is seeking $200 million from global backers and is targeting sovereign and institutional investors in the Emirates as it prepares a Series C financing round, chief executive Helene Huby told The National. The capital will be used to prioritise development of what TEC calls “the biggest rocket engine ever developed in Europe” while advancing a UAE-built lunar lander demonstrator being developed with the Mohammed bin Rashid Space Centre (MBRSC). “The target is $200 million and we're going to use that money to focus on rocket engine [project] as we're developing the biggest rocket engine ever developed in Europe,” Ms Huby said, adding: “We will be looking for lead investors in this part of the world.” Context and investor backing TEC has so far raised $335 million and counts a mix of venture and state-linked backers among its existing investors. Those investors include EQT Ventures, Red River West, Cherry Ventures, Partech, Promusventures and Vsquared Ventures, which Ms Huby said are “very excited about what we're doing” and intend to participate in the next round. Past fundraising: Series B originally targeted $80 million but grew to roughly $240 million after inviting more investors when milestones were met; Series A and Series B were the largest rounds raised by a European space start-up at the time. Potential UAE partners: TEC is in initial talks with UAE sovereign and institutional investors such as the Abu Dhabi Investment Authority (ADIA) and Lunate, an Abu Dhabi-based investment holding company, and is exploring co-investment and strategic investor options. Corporate footprint: Founded in 2021, TEC operates from Germany, France, Italy, Houston and Dubai and is the first European company to sign a Space Act Agreement with NASA. Projects and technical focus TEC is developing Nyx, a modular, reusable space vehicle intended to launch on heavy carriers and ferry cargo to and from low Earth orbit and cislunar stations. The company is also collaborating with NASA on a space capsule and is contributing the majority of development capital to a lunar lander demonstrator with MBRSC. The demonstrator could cost as much as $20 million, with TEC contributing about 85 per cent, and is due to enter a critical testing phase next year. Ms Huby framed the plan within a growing market opportunity, saying TEC expects space transport to expand from about $5 billion today to $50 billion within the next decade. “We will see a time when it costs about $100 to send 1 kilogram to orbit, and that's going to be transformational for what we can do in space … how we can explore space,” she said. Outlook TEC’s outreach to UAE investors comes as the Emirates positions itself as a regional space hub and home to major sovereign wealth funds including ADIA, Mubadala Investment Company and the Investment Corporation of Dubai. Ms Huby said discussions in Abu Dhabi have been positive: “I think people are excited to see someone who has a huge ambition”, and she emphasised TEC’s desire to share “key technologies across nations” while “building a future for us in space, which is more collaborative.” --- ## How the UAE is building one of the world’s fastest-growing startup ecosystems URL: https://startupsmena.com/how-the-uae-is-building-one-of-the-worlds-fastest-growing-startup-ecosystems-fast-company-middle-eas-mpfg8jmi Date: 2026-05-21 Category: tech Tags: **Summary:** Meanwhile, Hub71 continues to support startups through investment connections, partnerships, and growth programs, while the Mohammed bin Rashid Innovation Fund offers tailored programs to help innovat The UAE has moved aggressively this year to stitch together technology, investment and regulatory changes that underpin a rapidly expanding startup and innovation landscape, Fast Company Middle East reporting shows. Key moves include a $272 million allocation to expand international collaboration in space technologies, the rollout of government AI agents across public services, and targeted accelerator support for gaming studios through Dubai’s GameForward programme and PlayStation partnerships. "The AI tools will initially be introduced across tax auditing, procurement, customer happiness and technical support services," Fast Company Middle East reported, reflecting the government’s immediate operational focus as it scales AI across multiple ministries and agencies. Context and recent developments Government digitalisation and AI: Fast Company Middle East highlighted a new AI deployment across UAE government services intended to automate functions including tax auditing, procurement and customer support. These steps aim to improve efficiency and free up human resources for higher-value tasks. Space investment: The UAE has allocated $272 million to expand international collaboration in space technologies, a major funding pledge that signals continued prioritisation of deep-tech and R&D partnerships beyond national borders. Sector-specific accelerators: Dubai’s GameForward accelerator is actively supporting Emirati gaming studios, awarding grants and forging PlayStation partnerships to help local developers scale and access global platforms. Judicial and regulatory improvements: The Dubai Judicial Authority’s 2025 report, cited by Fast Company Middle East, "highlights faster case resolution, stronger judicial performance, and expanded digital services," a set of reforms that can strengthen investor confidence and reduce friction for startups navigating legal processes. Regional technology milestones: Coverage of neighbouring markets underlines a broader Gulf innovation push—Aramco launched Saudi Arabia’s first quantum computer in partnership with Pasqal, and Oman introduced an AI-driven autonomous asphalt paving system—both examples of regional tech ambitions that interact with UAE ecosystem growth. Trade and infrastructure linkages: AD Ports Group and Borouge Plc are exploring a UAE East Coast export hub, a development that could improve logistics and supply-chain options for hardware startups and manufacturing-focused ventures. These moves come amid surging regional metrics such as passenger traffic spikes noted in Saudi aviation reporting—figures like 140.9 million passengers underscore broader economic momentum that supports startup demand and talent flows. Outlook Taken together, these actions paint a picture of an ecosystem building capability across regulation, capital allocation and sectoral acceleration. The combination of direct funding, operational AI rollouts, judicial efficiency measures and targeted accelerator partnerships—reported by Fast Company Middle East—creates multiple levers for startups to scale. For founders, the immediate implications are clearer access to government services, new international research and market opportunities via space and trade initiatives, and platform partnerships that reduce barriers to global distribution. For policymakers and investors, the task remains harmonising these pieces to sustain long-term venture creation and attract deeper pools of private capital. --- ## NKN Media Accelerates Expansion through Strategic Flagship Intellectual Properties URL: https://startupsmena.com/nkn-media-accelerates-expansion-through-strategic-flagship-intellectual-properties-the-tribune-mpffz848 Date: 2026-05-21 Category: tech Tags: **Summary:** At the forefront of NKN Media's portfolio is Falcons of Majlis, one of its flagship intellectual properties and a UAE based startup funding platform designed to support founders through mentorship, in New Delhi, May 20 — NKN Media is accelerating its regional expansion by leaning on a portfolio of flagship intellectual properties that span entrepreneurship, real estate and leadership ecosystems. At the centre of the company’s push is Falcons of Majlis, a UAE‑based startup funding platform that NKN Media describes as designed to “support founders through mentorship, investor access and ecosystem building opportunities.” The platform drew attention at launch with Bollywood actor Suniel Shetty serving as mentor and Chitrangda Singh as host, signalling the company’s intent to mix high‑profile visibility with structured founder support. Direct quote "At NKN Media, our vision has always been centred on creating platforms that go beyond moments to build meaningful ecosystems. Bringing together people, ideas and opportunities has remained central to creating lasting value for industries and communities. Through intellectual properties such as Falcons of Majlis and our growing portfolio across sectors, we are building bridges between markets and creating platforms that can enable long term value creation. As we continue to expand, our vision remains centred on strengthening collaboration and unlocking new possibilities across regions," said Mr. Abdul Majid Khan, Group CEO & Managing Director, NKN Media. Context and details NKN Media positions itself as a media and business ecosystem company focused on proprietary platforms rather than one‑off events. The company emphasises long‑term community building and market connectivity between India, the UAE and other markets. Falcons of Majlis is presented as a flagship intellectual property within that strategy: a UAE startup funding platform pairing founders with mentorship, investors and ecosystem development opportunities. Its launch featured celebrity engagement to raise visibility and attract a broader audience of founders and investors. Beyond entrepreneurship, NKN Media has expanded into real estate and industry recognition platforms. Its portfolio as cited by the company includes Dubai Property Expo, Indo UAE Property Expo, Ultimate Realty Awards and Icons of the UAE — initiatives aimed at driving cross‑border engagement and industry conversations. The Tribune’s report notes the company’s communications were provided via a syndicated feed; the press release in the original item was supplied by VMPL and carried by ANI. Outlook Building on its existing platforms, NKN Media said it is preparing to introduce a new flagship India initiative under the International Property Expo banner as part of the next growth phase, with additional details to be announced in the coming months. The company frames this next step as a continuation of its strategy to "create platforms that connect industries, global stakeholders and emerging opportunities," and to facilitate stronger cross‑border market access and knowledge exchange between India and the UAE. As NKN Media continues to roll out events and intellectual properties, its stated focus remains on converting high‑profile launches into sustained ecosystems that offer recurring value to entrepreneurs, investors, developers and business leaders across the Gulf‑India corridor. --- ## Dubai Future Solutions programme advances global university start-ups in UAE expansion URL: https://startupsmena.com/dubai-future-solutions-programme-advances-global-university-start-ups-in-uae-expansion-emirates-247-mpfg1n0e Date: 2026-05-21 Category: tech Tags: **Summary:** Through the programme’s support, the ventures are in late-stage conversations with leading entities to advance their efforts in the UAE, starting from the second half of 2026. ‘Dubai Future Solutions The Dubai Future Solutions – Prototypes for Humanity initiative is accelerating three university spinouts from Switzerland, the United States and Egypt into pilot deployments and commercial expansion in the UAE, organisers said. The annual programme, held under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, brings together 100 start‑ups selected from thousands of submissions and is delivered through a partnership between the Dubai Future Foundation, Dubai International Financial Centre (DIFC), Art Dubai and the Hussain Sajwani – DAMAC Foundation. “Through the ‘Dubai Future Solutions – Prototypes for Humanity’ initiative, we are building a structured pathway that takes breakthrough research from the lab to real world deployment and scalable ventures. Dubai offers something few places can, an integrated environment where government, industry, and capital align to test, refine, and scale solutions at speed. At the Dubai Future Foundation, our role is to support this journey end to end by connecting global talent with local partners and transforming scientific potential into tangible impact across sectors,” said His Excellency Khalfan Belhoul, CEO of the Dubai Future Foundation. Programme structure and the cohort The programme supplies academic founders with funding, business expertise, dedicated team support and industry collaborations to translate research into commercially viable solutions. It supports ventures from technology validation through business set‑up, commercial projects and growth, using a commercially minded, de‑risking approach to position teams to engage larger commercial partners and investors. Oxara – Founded by Dr. Gnanli Landrou and Dr. Thibault Demoulin, Oxara converts mineral and construction waste into low‑CO₂ building materials using a fraction of the energy and capex of conventional cement production. The company is moving into commercial‑scale deployment after a successful pilot with “one of Dubai’s leading concrete manufacturers” and is pursuing landmark projects and strategic partnerships across Europe and Africa. P‑Vita – Founded by Mohamed Tarek Abdelzaher and Naglaa Mohamed, both graduates of Zewail City of Science and Technology, P‑Vita combines proprietary biotechnology and AI‑driven production to develop natural, cost‑effective raw materials for agriculture, food and pharmaceutical industries. The firm already supports more than 4,800 smallholder farmers and is preparing to scale a tested joint‑venture model internationally, with a growing number of trials and crop applications launching in the UAE. Virufy – Led by Amil Khanzada, Specially Appointed Assistant Professor at the University of Fukui and a graduate student alumnus of UC Berkeley and Stanford, Virufy is enhancing a smartphone app that detects multiple respiratory diseases via cough sound pattern analysis. The company is advancing a pilot clinical study with Dubai Health that has nearly 200 patients enrolled and is entering a specialised AI research and development phase aimed at creating a screening tool with potential reach to up to one billion people in developing nations. Backing, partners and outlook His Excellency Arif Amiri, CEO of the DIFC Authority, highlighted DIFC’s role in the partnership: “DIFC’s founding partnership in ‘Prototypes for Humanity’ reflects our conviction that the most durable economic ecosystems are built on the ability to attract, support and retain the world’s most capable innovators.” Organisers said the programme is already engaging a new, highly curated group of ventures from institutions including Harvard University, Imperial College London, Petronas Technology University and Duke University. Through the programme’s support these ventures are in late‑stage conversations with leading UAE entities and are expected to advance their efforts starting from the second half of 2026. “The gap between a scientific breakthrough and a functioning commercial venture is rarely bridged without deliberate, bespoke support,” said Tadeu Baldani Caravieri, Managing Director of Prototypes for Humanity. The initiative has opened applications for the Dubai summit in November, inviting graduates, students and researchers to apply and enter the selection process for the 2027 ventures programme. --- ## Riyadh Air Tickets On Sale To London, As Airline Launches Public Operations URL: https://startupsmena.com/riyadh-air-tickets-on-sale-to-london-as-airline-launches-public-operations-one-mile-at-a-time-mpfg14f9 Date: 2026-05-21 Category: tech Tags: **Summary:** Ambitious airline startup Riyadh Air has just announced plans to launch regularly scheduled commercial flights that are available to the public. The airline has actually already been flying for months Riyadh Air has opened sales to the public for regularly scheduled commercial flights, with tickets available for services beginning July 1, 2026. The Saudi-backed startup, which has been operating employee-only flights on the Riyadh–London Heathrow corridor since late October 2025, says it will shortly begin flying its own custom-fitted Boeing 787-9 Dreamliners on the route after taking delivery of the first fitted aircraft. “Today marks a truly exciting milestone for Riyadh Air as we introduce our new aircraft and signature premium experience on our established London route. It demonstrates our deep commitment to delivering a truly world-class journey for our guests, one that blends exceptional comfort, cutting-edge technology and our distinctive Saudi ‘Hafawa’ hospitality from the moment they step on board,” Riyadh Air CEO Tony Douglas said. “Connecting Saudi Arabia with the UK directly and beyond through our growing network of global destinations including Jeddah, Cairo and Dubai, sits at the very heart of what we are building at Riyadh Air and the Kingdom’s ambitions under Vision 2030. We look forward to welcoming our guests aboard to experience the future of air travel.” Operations and fleet plans Riyadh Air has previously flown the Riyadh (RUH)–London (LHR) route using a spare Boeing 787-9 that formerly served Oman Air to meet Heathrow’s winter season slot “use it or lose it” requirement. Those flights were restricted to airline employees, Public Investment Fund (PIF) staff and their families as part of a “Pathway to Perfect go-to-market plan.” The airline said that restriction will end as it introduces its own interiors and expands public services. Public ticket sales effective for travel on or after July 1, 2026. Published schedule: RX401 Riyadh to London departing 02:35, arriving 07:30; RX402 London to Riyadh departing 09:35, arriving 18:05. Aircraft orders announced: up to 72 Boeing 787-9s, up to 60 Airbus A321neos and up to 50 Airbus A350-1000s. Riyadh Air has launched its Sfeer loyalty programme and anticipates collaborations with SkyTeam carriers including Air France-KLM, Delta and Virgin Atlantic. Fares and product Riyadh Air is offering tiered fare bundles. Economy and premium economy have Lite, Smart and Flex options; business class is offered in Smart, Flex and Elite bundles. The carrier also lists a special Business Elite seat in the first row for which seat assignment currently costs an additional 1,000 SAR (approximately 266 USD) unless the top business fare is purchased. Roundtrip London–Riyadh business class fares currently shown at about 27,000 SAR (~7,200 USD). Roundtrip Riyadh–London business class fares currently shown at about 18,500 SAR (~4,930 USD). A mixed-cabin strategy (one direction business, one direction economy) is available from roughly 10,500 SAR (~2,800 USD). Outlook After delivery of its first custom-fitted Dreamliner and the public sales launch, Riyadh Air moves from quietly operating to full commercial visibility on its marquee route to London. With a large aircraft orderbook and planned partnerships through Sfeer, the airline is positioning itself to expand beyond the initial Riyadh–London pair to destinations the CEO cited, including Jeddah, Cairo and Dubai. --- ## Startup Wrap: Saudi startups dominate MENA funding week as a16z makes first GCC bet URL: https://startupsmena.com/startup-wrap-saudi-startups-dominate-mena-funding-week-as-a16z-makes-first-gcc-bet-arab-news-mpffxzgl Date: 2026-05-21 Category: tech Tags: **Summary:** MENA-based digital freight network ... and funded by Abu Dhabi Commercial Bank. The facility is backed by portfolios of trade receivables across the UAE, Saudi Arabia, and Turkiye. The transaction is Saudi startups lead MENA funding roundup as a16z makes first GCC investment Saudi Arabia dominated startup financing activity across the Middle East this week, with five Saudi-based firms announcing new capital or structured financing deals. The largest headline was Stitch’s $25 million Series A led by Andreessen Horowitz — marking the US firm’s first investment in the Gulf Cooperation Council — alongside a landmark up-to-$300 million receivables securitization for digital freight network TruKKer arranged and funded by Abu Dhabi Commercial Bank. "The funding will support product development, regional expansion across the Middle East and North Africa, and global go-to-market growth," Stitch said after closing the round that included participation from Arbor Ventures, COTU Ventures, Raed Ventures and SVC. Stitch, founded in 2022 by Mohamed Oueida, builds a cloud-native operating system for financial institutions covering lending, cards, payments and ledgers. The company said it processed more than $5 billion in transactions over the last six months and saw its customer base grow tenfold in 2025. The $25 million Series A follows a $10 million seed round closed a year earlier. TruKKer — The UAE- and region-focused digital freight network, founded in 2016 by Gaurav Biswas, secured an inaugural trade receivables securitization facility of up to $300 million arranged and funded by Abu Dhabi Commercial Bank. Backed by portfolios of receivables across the UAE, Saudi Arabia and Turkiye, the deal was structured as a non-recourse securitization using a Murabaha facility harmonized across multiple legal jurisdictions — among the GCC’s first multi-jurisdictional, asset-backed securitizations for a high-growth tech startup. Aumet — Saudi health tech Aumet raised $12 million in a Series A led by Emkan Capital, with participation from Qatar Development Bank, SABAH VC and AAIC and continuing backers Shorooq Partners and Right Side Capital Management. Founded by Yahya Aqel, Adel Haddad and Shahed Jaber, Aumet builds an AI-first procurement operating system for healthcare providers and pharmacies. Stream — Saudi fintech Stream secured a $5.2 million seed extension led by BECO Capital, joined by STV, Flourish Ventures and Arab Bank as well as existing investors Outliers and BYLD. Founded in 2024 by Ibrahim Al-Dlaigan, the billing and payments infrastructure platform has now raised a total of $9.2 million in seed financing. Hakeem Health — The Riyadh-based health tech raised $1.65 million led by Merak Capital with participation from Sanabil 500. Founded by Bilal Adi and Mohammed Ayyad, Hakeem Health’s HakeemDx platform integrates with hospital systems to deliver real-time bilingual clinical guidance to clinicians. Gabster — Business operations platform Gabster raised $500,000 in a pre-seed round from RAI and T2. Founded by Ibrahim Ali, Gabster is developing an AI-powered business management platform that integrates WhatsApp, Instagram, Telegram, email and live chat. Other regional moves included UAE cybersecurity startup Lyrie.ai exiting stealth with $2 million in pre-seed funding, Egypt-born Byit expanding into the UAE after a $1.1 million raise, a Snoonu Startup Factory investment in Qatar-based HASIF, and an exit by Beltone Venture Capital and Citadel International from Egyptian logistics player Bosta that generated a 75 percent internal rate of return for the fund. Looking ahead, the week’s activity underscores sustained investor appetite: a joint MAGNiTT and stc group report cited in the coverage shows venture investment in MENA reached $15.4 billion across 3,329 deals over the past five years, with corporate investors accounting for roughly 12 percent of funding value and deal volume — a backdrop likely to keep capital flowing into late-stage financings and structured credit solutions for scaling tech companies across the region. --- ## 6 Reasons Why Saudi Arabia Is a Preferred Destination for Global Startups URL: https://startupsmena.com/6-reasons-why-saudi-arabia-is-a-preferred-destination-for-global-startups-trends-we-mpffzmag Date: 2026-05-21 Category: tech Tags: **Summary:** The efforts of Monsha’at and the Saudi Venture Capital Company (SVC) have been very useful in helping startups raise funds, providing mentorship, and nurturing the startup environment through funding Saudi Arabia is emerging as a top destination for global startups, driven by Vision 2030, a cluster of mega-projects and policy reforms that together create opportunities across fintech, logistics, healthcare, manufacturing and eCommerce. In a Trends We dispatch dated May 20, 2026, the country’s combination of strategic geography, regulatory streamlining and a rising domestic consumer market are cited as six key reasons why entrepreneurs are choosing the Kingdom as a regional base. "The efforts of Monsha’at and the Saudi Venture Capital Company (SVC) have been very useful in helping startups raise funds, providing mentorship, and nurturing the startup environment through funding by both domestic and international investors," the Trends We analysis states. Context and the six drivers Vision 2030 and mega-projects: The government initiative Vision 2030 is singled out as a catalyst for private-sector growth and foreign investment. Projects such as NEOM, The Red Sea Project and Qiddiya are highlighted as platforms where startups can pilot technologies and services linked to tourism, energy, smart cities and entertainment. Strategic location: Saudi Arabia’s geographic position provides access to markets across the Middle East, Africa and Asia. The article notes advanced logistics, ports and airports that benefit companies focused on international trade, logistics, supply chain and e-commerce. Startup-friendly regulations: Recent reforms have streamlined business processes, improved licensing procedures and reduced barriers for foreign founders. Trends We reports that conducting business “has become quite convenient” compared with previous years, as technology is applied to government procedures. Access to capital and support: The piece points to a growing ecosystem of venture capital firms, angel investors, incubators and government initiatives. It names Monsha’at and the Saudi Venture Capital Company (SVC) as instrumental in helping startups raise funds, secure mentorship and connect with both domestic and international investors. Digital transformation: A rapid shift to digital tools across government and the private sector is creating demand for AI, cloud, automation, cybersecurity, digital payments, health tech and edtech solutions. The country’s young, technically skilled population and rising internet and mobile usage are cited as fuel for digital adoption. Expanding consumer market: Trends We emphasizes Saudi Arabia’s strong consumer buying power and a growing middle class. Sectors such as retail, food & beverage, healthcare, tourism and entertainment are identified as high-growth areas where startups can scale sustainably. Practical service providers are already positioning to smooth market entry: the Trends We article references GRO Services for administrative support and TASC Outsourcing as an assistant for entrepreneurs navigating required procedures. Those services are presented as remedies to bureaucracy that can otherwise complicate incorporation and operations. Outlook: With Vision 2030 programs continuing to roll out and concerted efforts by bodies like Monsha’at and SVC to mobilize capital and mentorship, Trends We concludes that Saudi Arabia offers a converging set of conditions—market size, project-led demand, improved regulation and growing investor interest—that make the Kingdom an attractive launchpad for startups targeting the Middle East, Africa and Asia. --- ## UAE Tops Global Entrepreneurship Rankings for 5th Year Straight URL: https://startupsmena.com/uae-tops-global-entrepreneurship-rankings-for-5th-year-straight-mpffyyw2 Date: 2026-05-21 Category: tech Tags: UAE, Global Entrepreneurship Monitor, GEM report, Dubai, Abu Dhabi, startups, funding, fintech, AI, e-commerce, SaaS, R&D, free zones, foreign ownership **Summary:** The UAE has been ranked the world’s top country for entrepreneurship for the fifth consecutive year, driven by pro‑business policies, improved access to finance, strong infrastructure and focus on AI and startup education. Dubai and Abu Dhabi are highlighted as principal hubs for fintech, AI, e‑commerce and SaaS expansion. The United Arab Emirates has been ranked the world’s top country for entrepreneurship for the fifth consecutive year, according to the latest Global Entrepreneurship Monitor (GEM) report highlighted in an Arnifi post by Anushka Basu on May 16, 2026. The report credits the UAE’s “long‑term momentum on startup development, pro‑business changes, investments in infrastructure, and easier access to financial support” for the top placement, and notes the country also placed second globally for entrepreneurial finance and funding accessibility. "This is the fifth year in a row, and honestly, it keeps making the case that this country is one of the best places to launch and scale businesses, not just start them," wrote Anushka Basu in Arnifi’s coverage of the GEM findings. Context and details The GEM report highlights several concrete areas where the UAE outperformed other high‑income economies. Key strengths called out in the Arnifi piece include: Government help: rules and policies that encourage entrepreneurship and SME expansion. Infrastructure: robust logistics, transport and digital systems that support business operations. Market entry ease: streamlined processes that shorten business setup timelines. Entrepreneurship education: increased attention on innovation and startup culture within educational institutions. Research and development transfer: improved backing for innovation‑led companies moving ideas to market. Basu’s summary also points to policy reforms and administrative changes that have made company formation simpler, including expanded free zones, digital licensing systems and clearer foreign ownership rules—allowing up to 100% foreign ownership in many sectors. Dubai and Abu Dhabi are singled out as the UAE’s principal startup hubs, particularly for fintech, artificial intelligence, e‑commerce and SaaS businesses. Access to capital stands out as a major driver. The report notes that the UAE ranked second worldwide for entrepreneurial finance and funding accessibility, and Arnifi lists the elements of the financing ecosystem that now underpin the market: venture capital firms, angel investor networks, government‑backed startup programmes, fintech funding platforms and SME‑oriented financing initiatives. These channels are described as especially relevant for sectors such as AI, clean energy, logistics, fintech and SaaS. Artificial intelligence and digital readiness are also emphasised. The GEM findings indicate the UAE is among a small group of countries where entrepreneurs expect AI to significantly shape business growth over the next three years, dovetailing with national priorities on AI‑driven innovation, digital transformation and a knowledge economy. Outlook For international founders and SMEs considering regional expansion, the GEM ranking — as reported by Anushka Basu on Arnifi — reinforces the UAE’s appeal as a destination with regulatory clarity, global connectivity and operational flexibility. The combination of improved access to finance, faster licensing, modern digital infrastructure and targeted support for R&D suggests the UAE will remain a primary hub for startups looking to scale across the GCC, Asia, Africa and Europe. Continued policy reform and ecosystem growth are likely to determine whether the country can sustain its top position beyond the current five‑year streak. --- ## Dubai Future Solutions programme advances global university start-ups in UAE expansion URL: https://startupsmena.com/dubai-future-solutions-programme-advances-global-university-start-ups-in-uae-expansion-emirates-247-mpfg0udr Date: 2026-05-21 Category: tech Tags: **Summary:** Through the programme’s support, the ventures are in late-stage conversations with leading entities to advance their efforts in the UAE, starting from the second half of 2026. ‘Dubai Future Solutions The Dubai Future Solutions – Prototypes for Humanity initiative is moving three university-born ventures from Switzerland, the United States and Egypt into pilot deployment and commercial expansion in the UAE, organisers confirmed. The programme, run under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum and organised by the Dubai Future Foundation in partnership with Dubai International Financial Centre (DIFC), Art Dubai and the Hussain Sajwani – DAMAC Foundation, has selected 100 start-ups from thousands of academic submissions and is advancing Oxara, P‑Vita and Virufy toward UAE projects that begin in the second half of 2026. “Through the ‘Dubai Future Solutions – Prototypes for Humanity’ initiative, we are building a structured pathway that takes breakthrough research from the lab to real world deployment and scalable ventures. Dubai offers something few places can, an integrated environment where government, industry, and capital align to test, refine, and scale solutions at speed. At the Dubai Future Foundation, our role is to support this journey end to end by connecting global talent with local partners and transforming scientific potential into tangible impact across sectors,” said His Excellency Khalfan Belhoul, CEO of the Dubai Future Foundation. From lab prototypes to pilots in Dubai The cohort spans industrial and health-focused science. Oxara, founded by Dr. Gnanli Landrou and Dr. Thibault Demoulin, recycles mineral and construction waste into low‑CO₂ building materials that require a fraction of the energy and capex of conventional cement. The company is now moving into commercial‑scale deployment after a pilot with “one of Dubai’s leading concrete manufacturers,” and is pursuing projects and partnerships across Europe and Africa. P‑Vita, founded by environmental engineer Mohamed Tarek Abdelzaher and Chief Science Officer Naglaa Mohamed—both alumni of Zewail City of Science and Technology—uses proprietary biotechnology and AI‑driven production to make natural raw materials for agriculture, food and pharmaceuticals. The company already supports more than 4,800 smallholder farmers and is preparing to scale a tested joint‑venture model internationally, with “a growing number of trials, crop applications, and farming models” launching in the UAE this month. Virufy, led by Amil Khanzada, is enhancing a smartphone app that analyses cough sound patterns to screen for multiple respiratory diseases. The start‑up is progressing a pilot clinical study with Dubai Health that has enrolled “nearly 200 patients to date” and will enter a specialised AI research and development phase to create a screening tool aimed at helping up to one billion people across developing nations. Programme model and next steps The initiative operates “using a commercially minded, de‑risking approach” to shepherd academic founders from validation to business set‑up, commercial projects and growth. It offers funding, business expertise, dedicated team support and industry collaborations to translate scientific research into commercially viable solutions. Organisers say new ventures from Harvard, Imperial College London, Petronas Technology University and Duke University are in late‑stage conversations with leading UAE entities to advance activities starting in the second half of 2026. “The gap between a scientific breakthrough and a functioning commercial venture is rarely bridged without deliberate, bespoke support. The ventures we are advancing are proof that when the right methodology, partners and environment come together, that gap can be crossed, creating real value for organisations, society and markets,” said Tadeu Baldani Caravieri, Managing Director of ‘Prototypes for Humanity’. Applications are open for the 2026 annual summit in Dubai this November, inviting students, graduates and researchers to apply for the 2027 ventures programme. --- ## UAE is Quietly Becoming One of the World's Most AI-Advanced Nations URL: https://startupsmena.com/uae-is-quietly-becoming-one-of-the-worlds-most-ai-advanced-nations-techstory-mpffx8dt Date: 2026-05-21 Category: tech Tags: **Summary:** The UAE is not waiting for the future. The country is building it right now. From hospitals to banks to highways, artificial intelligence is changing how the country works. The government has made AI The United Arab Emirates has pushed artificial intelligence from strategy into everyday services across healthcare, finance and transport, with visible deployments in hospitals, banks and city infrastructure. Reporting in TechStory on May 20, 2026, Arundhati Kumar notes concrete use cases: Cleveland Clinic Abu Dhabi and Dubai Health Authority are running AI tools in clinical workflows; Emirates NBD and Abu Dhabi Islamic Bank use AI for fraud detection and loan decisions; and Dubai’s Roads and Transport Authority and Dubai Metro employ AI to manage traffic and driverless trains. The UAE’s National AI Strategy, launched in 2017, sets a goal to make the country a global leader in AI by 2031. "The UAE is not waiting for the future. The country is building it right now," Kumar wrote, underlining how these technologies have moved from pilots into production across multiple sectors. Healthcare systems in Abu Dhabi and Dubai now rely on AI to speed diagnosis and manage patient flow. Cleveland Clinic Abu Dhabi uses AI to analyse medical images and to detect signs of cancer, heart disease and eye conditions faster than traditional methods, according to the TechStory report. The Dubai Health Authority has rolled out AI-powered platforms that help patients book appointments, obtain basic medical advice and manage chronic conditions at home, while predictive tools aim to forecast patient readmissions so clinicians can intervene earlier and reduce costs. Finance: fraud detection and instant credit decisions The UAE’s financial sector has integrated machine learning into core operations. Banks such as Emirates NBD and Abu Dhabi Islamic Bank deploy AI to detect suspicious transactions in real time, significantly reducing fraud, TechStory reports. AI-driven underwriting has shortened loan decision times from days to minutes by rapidly analysing applicants’ financial histories, spending patterns and risk signals. The Dubai International Financial Centre has also encouraged fintech startups to build AI tools for investment, insurance and personal finance, where robo-advisors are increasingly available to retail customers. Transport: driverless metros and smart roads Dubai’s transport ambitions showcase large-scale AI control systems. The Dubai Metro operates as one of the world's longest driverless metro systems, with AI managing trains, monitoring safety and adjusting schedules based on passenger demand. The Roads and Transport Authority uses AI-enabled cameras and sensors to monitor traffic in real time and automatically adjust signal timings to ease congestion, lowering average journey times. The city is also testing self-driving taxis and has set a target for 25% of all journeys to be completed by autonomous vehicles by 2030. National AI Strategy launched: 2017 UAE AI leadership target: 2031 Autonomous vehicle target: 25% of journeys by 2030 "What makes the UAE different is speed. Ideas move from plan to pilot to full rollout faster here than almost anywhere else," Kumar added, emphasizing the rapid transition from policy to operational systems. Looking ahead, the convergence of clinical, financial and transport AI deployments suggests the UAE will continue to prioritize scaling practical AI solutions that can be measured in reduced wait times, fewer fraud losses and smoother mobility — milestones that will be closely watched by policymakers and operators across the region. --- ## UAE-based Proptech eVoost Al Has Raised $2.2 Million (€2 Million) URL: https://startupsmena.com/uae-based-proptech-evoost-al-has-raised-22-million-2-million-mpffvn4c Date: 2026-05-21 Category: saas Tags: proptech, AI, real estate, funding, Abu Dhabi, Hub71, Mubadala, First Drop VC **Summary:** Abu Dhabi-based proptech eVoost AI raised €2 million (~$2.2M) in a seed/early-stage round led by First Drop VC with participation from a Hub71-linked syndicated investment backed by Mubadala. The startup will use the funds to advance its AI-driven platform for residential commercialisation, expand internationally and grow its team. Abu Dhabi-based proptech eVoost AI has closed a €2 million (approximately $2.2 million) funding round led by First Drop VC, the company announced. The round also included participation from a syndicated investment linked to Hub71 and backed by Mubadala Investment Company, alongside strategic investors and angel backers with exposure to markets including Romania and the UAE. eVoost said the fresh capital will be used to support product and technology development, international expansion and team growth. "This round allows us to accelerate the construction of an intelligent operating system for residential commercialisation. Our goal is to transform a traditionally fragmented and analogue sector into one governed by data, AI, and automation,” said Cristian G. Pastrana, co‑founder and CEO of eVoost AI. Deal mechanics and investor set The seed/early-stage round was led by First Drop VC, with additional participation noted from a syndicated investment linked to Abu Dhabi’s Hub71 programme and backed by Mubadala Investment Company. eVoost also attracted a mix of strategic and angel investors, some of whom have market exposure to Romania as well as the UAE. First Drop VC co‑founder Manuel Nieto Arias framed the investment in the context of developer pain points: “Many developers still build without truly understanding their end customer. eVoost’s technology identifies demand and optimises sales even before construction begins.” Product and market proposition eVoost AI’s platform uses AI‑generated insights and behavioural data to help property developers identify buyer demand before construction is completed. The company says this enables developers to optimise pricing, positioning and sales strategies ahead of handover. According to the announcement, the technology is positioned as an “intelligent operating system for residential commercialisation” aimed at replacing fragmented, analogue processes in the residential real estate lifecycle with data, AI and automation. Funding amount: €2 million (~$2.2 million) Lead investor: First Drop VC Other participation: Syndicated investment linked to Hub71, backed by Mubadala Investment Company; strategic investors and angels with exposure to Romania and the UAE Use of proceeds: Product and technology development, international expansion, team growth Outlook With fresh capital secured, eVoost intends to accelerate development of its core product and expand its team as it pursues international growth. The involvement of Hub71‑linked capital and Mubadala backing signals continued institutional interest in Abu Dhabi’s tech ecosystem, while First Drop VC’s lead role underscores investor appetite for data‑driven solutions that reduce go‑to‑market risk for developers. eVoost will need to demonstrate uptake of its demand‑forecasting tools among developers to validate claims that sales and pricing can be optimised materially before construction completion. --- ## COLABS launches Riyadh workspace campus backed by leading regional investors URL: https://startupsmena.com/colabs-launches-riyadh-workspace-campus-backed-by-leading-regional-investors-moce9jsw Date: 2026-04-24 Category: tech Tags: **Summary:** Community-led workspace platform targets rising demand from startups and SMEs in Saudi Arabia COLABS opens 4,000 sqm Riyadh campus after $8m-plus funding round COLABS, a Saudi-headquartered community-led workspace platform, has launched a 4,000 square metre campus in northern Riyadh, marking its formal entry into the Kingdom. The Al-Narjis site — branded COLABS Narjis — is designed to host more than 500 members including early-stage startups, scaling companies and enterprise teams. The company has raised more than $8 million to date from regional investors including Shorooq, Waseel Partners, Zayn VC, Indus Valley Capital and Fatima Gobi Ventures, and said the Riyadh opening signals the start of its international expansion across the Middle East, North Africa and Pakistan. Direct quote "Saudi Arabia represents a significant long-term market for us," said Omar Shah, CEO of COLABS. "Our focus is on building environments where ambitious companies can work more effectively and where networks strengthen over time." Context and campus details The Narjis campus is part of COLABS' strategy to combine thoughtfully designed physical space with curated networks and year‑round programming. The launch event in Riyadh drew more than 300 attendees, including founders, investors, policymakers and creatives, with speakers representing BECO Capital, Shorooq, 500 Global, Sotheby's and Aqar. Capacity and facilities: space for 500+ members; event space for more than 200 people; rooftop terrace; podcast studio; 10+ meeting rooms; on-site café; and a daycare facility. Programming and community: COLABS said it will run a year-round calendar of programming to foster interaction among founders, investors and operators. Creative curation: Through COLABS Creative Collective (CCC), the platform embeds art, design and culture into the workspace experience, highlighting a Saudi–Pakistan cultural connection via partnerships with the Abdul Monem Arts Foundation and Noura Arts and initiatives such as the "Love Across Borders" series by Zahid Mayo and Ola Hejazi. Faisal AlRashed, Managing Partner at Waseel, framed the investment as part of broader cross-border collaboration: "the partnership reflects deepening economic ties between Saudi Arabia and Pakistan and highlights the potential for greater cross-border collaboration across the region." Outlook COLABS said the Riyadh campus expands a network that currently operates more than 500,000 square feet of workspace across more than 10 locations, supporting over 5,000 members and 300 companies. The company aims to become the largest workspace provider for startups and scaleups across the Middle East, North Africa and Pakistan in coming years, leveraging a partner ecosystem of more than 250 organisations including EY, DigitalOcean, Canva, Coca-Cola, Spotify and Endeavor. With investor backing from Shorooq, Waseel Partners, Zayn VC, Indus Valley Capital and Fatima Gobi Ventures among others, COLABS is positioning the Narjis campus as a hub for entrepreneurship, culture and cross-border exchange as it pursues further regional expansion. --- ## Abu Dhabi Global Entrepreneurship Festival 2026 concludes URL: https://startupsmena.com/abu-dhabi-global-entrepreneurship-festival-2026-concludes-moc85ray Date: 2026-04-24 Category: funding Tags: entrepreneurship, AI, investment, grants, Abu Dhabi, startups **Summary:** ADGEF 2026 brought together government entities, investors and entrepreneurs in Abu Dhabi for a three-day programme of over 300 speakers and sessions focused on entrepreneurship, investment, AI and future-economy trends, and included a Dh1 million grant challenge for youth and social enterprises. The Abu Dhabi Global Entrepreneurship Festival (ADGEF) 2026 wrapped up after three days in the capital, convening government entities, investors and entrepreneurs for a programme of more than 300 speakers, workshops and high-level sessions focused on entrepreneurship, investment, artificial intelligence and future economy trends. The festival also featured initiatives aimed at youth and social enterprises, including a Dh1 million grant challenge, underscoring organisers’ emphasis on funneling capital and skills into early-stage ventures. The event was reported on April 23, 2026, with coverage credit to WAM. "bringing together government entities, investors and entrepreneurs, reinforcing the emirate’s position as a global hub for innovation," the festival coverage said, summarising the stated aims and breadth of participation at ADGEF 2026. Context and programme highlights Over the three days, ADGEF assembled more than 300 contributors across panels, workshops and sessions that set out to map investment opportunities and technological trends shaping the next phase of regional entrepreneurship. Core topics cited in coverage included AI and future-economy themes, alongside practical sessions on funding and scale-up strategies for startups. Scale and scope: ADGEF 2026 featured "over 300 speakers, workshops and high-level sessions" covering entrepreneurship, investment, AI and future economy trends. Funding and support: the festival included a Dh1 million grant challenge targeted at youth and social enterprises. Participants: attendance brought together government entities, investors and entrepreneurs, according to event reporting. Duration: the festival ran for three days and concluded on April 23, 2026, with updates filed by WAM. Participants and organisers underscored the festival’s role as a convening platform for public and private stakeholders. Coverage noted that ADGEF sought to foster collaboration across the ecosystem and support startups as they pursue funding and market expansion. Reporting also stressed the event’s connection to broader Abu Dhabi priorities around developing a knowledge-based and sustainable economy. Related headlines highlighted concurrent deal and investment activity in the emirate, appearing alongside the festival coverage: stories referenced the Khalifa Fund’s support for young entrepreneurs, Barings and Bain Capital opening Abu Dhabi offices, and EGA commentary on the Al Taweelah recovery timeline. Those items in proximity to the ADGEF report signal a steady stream of investor and institutional interest in Abu Dhabi’s entrepreneurial landscape. Outlook Organisers and attendees signalled that the outcomes of ADGEF 2026 — from pitch competitions to the Dh1 million grant challenge — are intended to feed into year-round programmes supporting founders and social enterprises. With a packed agenda on AI, investment and economic transition, the festival’s wrap-up positions Abu Dhabi to continue attracting capital and partnerships aimed at scaling startups and embedding innovation into public and private sector strategies. --- ## Dubai’s new AI infrastructure push explained URL: https://startupsmena.com/dubais-new-ai-infrastructure-push-explained-moc2e18t Date: 2026-04-23 Category: tech Tags: **Summary:** DIEZ and VOLT UAE have launched a joint venture to develop a 60,000 sqm AI-ready data centre in Dubai Silicon Oasis with phased 29 MW and 100 MW capacity expansion. The Dubai Integrated Economic Zones Authority (DIEZ) and VOLT UAE have formed a strategic joint venture to build a 60,000 square metre AI-ready data centre in Dubai Silicon Oasis (DSO), designed to roll out in two phases: an immediate 29 megawatts (MW) of capacity in phase one and a committed expansion of 100 MW thereafter. Schneider Electric will supply advanced energy and infrastructure systems for the development, which the partners say is intended to support high‑performance computing, model training and sovereign AI requirements. "AI factory capable of transforming energy into computing intelligence," the project announcement said, framing the facility as more than a traditional data centre and as a purpose-built environment for large-scale AI workloads. Context and partners The project announcement was made in the presence of senior leadership including Dr Mohammed Al Zarooni, Executive Chairman of DIEZ; Han de Groot, CEO of VOLT; Koenraad Crooijmans, Head of Capital Markets at VOLT; and Amel Chadli, President, Gulf Cluster at Schneider Electric. Under the agreement, DIEZ will provide the land and core infrastructure support while VOLT UAE will lead development, financing, construction and eventual operation of the facility. DIEZ: land and core infrastructure support; strategic integration with Dubai Silicon Oasis and broader zone planning. VOLT UAE / VOLT: development, financing, construction, leasing and operational oversight across the facility’s lifecycle. Schneider Electric: electrical systems, power distribution, monitoring solutions, liquid cooling, and smart infrastructure integration. The partners say the facility will be engineered with reinforced architecture, redundant systems and hardened infrastructure to ensure continuous availability even under demanding conditions. Project details state the campus will be implemented in two phases: an initial 29 MW of readily available capacity to enable early deployments, followed by an additional 100 MW of committed power to scale computing capability. Schneider Electric’s technology contribution is described to range from power grid integration to chip-level cooling and energy management, incorporating advanced power systems, liquid cooling solutions, monitoring software and operational management tools intended to reduce energy consumption and operational risk in high‑density AI environments. Outlook Officials framed the DIEZ–VOLT UAE partnership as aligned with Dubai’s wider digital strategy, notably the Dubai Economic Agenda D33, and linked the site to the AED11 billion "District IO" expansion within Dubai Silicon Oasis. Dr Mohammed Al Zarooni said the partnership reflected the resilience of Dubai’s economic model and reinforced the UAE leadership’s vision for innovation‑led growth. VOLT’s CEO Han de Groot described the joint venture as a step in the company’s international expansion and highlighted computing capacity as a critical production factor for AI. With an initial 29 MW ready for early use and a pathway to 129 MW total, the development positions DSO to host enterprise and sovereign AI workloads and to serve as a significant addition to the region’s mission‑critical digital infrastructure as demand for AI‑ready computing accelerates. --- ## Inside PakLaunch: How a WhatsApp Group Grew Into Pakistan's Premier Startup Platform URL: https://startupsmena.com/inside-paklaunch-how-a-whatsapp-group-grew-into-pakistans-premier-startup-platform-mobwm5ws Date: 2026-04-23 Category: tech Tags: **Summary:** Since launching its first UNconference ... 2025, and Palo Alto again in October 2024. The most recent edition, UNconference’25.2 in Riyadh, brought together over 40 Pakistani startups and more than 80 PakLaunch — founded by Aly Fahd in San Francisco on April 29, 2020 — has grown from a seven-person WhatsApp group into what the organisation calls Pakistan’s most influential startup ecosystem connector, facilitating over $120 million in funding and building a community of more than 400,000 members across 550 global events. Since launching its first UNconference in Palo Alto in June 2022, PakLaunch has staged editions in Dubai (January 2023), London (September 2023), Riyadh (March 2024 and November 2025), and Palo Alto again (October 2024). The most recent edition, UNconference’25.2 in Riyadh, brought together over 40 Pakistani startups and more than 80 venture capital firms, and featured industry leaders such as Dubizzle Group’s Imran Ali Khan, US Mobile’s Ahmed Khattak, and Jazz CEO Aamir Ibrahim. On its event format, PakLaunch emphasizes participation: "no spectators allowed, only participants," the platform states — a reflection of its participant-driven UNconference model, where attendees collectively shape the agenda through collaborative proposals. How the model works The UNconference format favoured by PakLaunch removes traditional panel hierarchies and prioritises discussion, knowledge exchange and problem-solving. Sessions are proposed and run by participants, a method the organisation says cultivates "collective intelligence, active engagement, and organic learning" across sectors including fintech, SaaS, healthtech, AI and e-commerce. Founding and community: Launched during the pandemic as a WhatsApp group of seven friends, PakLaunch’s community expanded from roughly 300,000 members in late 2022 to over 400,000 today. Funding and credibility: The platform reports it has facilitated more than $120 million in funding, a track record that investors cited at recent events when praising the preparedness and credibility of startups emerging from the PakLaunch ecosystem. Investor engagement: UNconference’25.2 in Riyadh attracted over 80 venture capital firms and high-profile founders and executives, creating deeper investor-startup conversations than typical networking events, according to attendees. Support services: Beyond events, PakLaunch provides advisory services, training and fundraising assistance, and facilitates networking via group discussions and both virtual and in-person forums. Outlook and next steps PakLaunch has announced UNconference 2026 in Islamabad, powered by Bank Islami, scheduled for 29–30 April at the Serena Hotel, Islamabad. The invite-only event is positioned as a curated environment for direct connections with leading investors, founders and industry experts, with organisers highlighting opportunities for co-investment, strategic partnerships and business collaborations. As PakLaunch continues to expand its roster of events and maintain an invite-only format, the platform aims to sustain focused, time-efficient investor engagement and to enable Pakistani startups to access capital and build credibility on international stages — including pathways to listings on foreign stock exchanges when the right support is in place. --- ## Dubai Gives Hedge Funds Flexibility to Navigate War Fallout URL: https://startupsmena.com/dubai-gives-hedge-funds-flexibility-to-navigate-war-fallout-bloomberg-mobsfvua Date: 2026-04-23 Category: funding Tags: hedge funds, Dubai, DFSA, regulation, remote work, compliance, Middle East **Summary:** Dubai's Financial Services Authority has relaxed compliance rules and reduced paperwork to help hedge funds operate flexibly after staff relocated or began working remotely due to the regional conflict. The moves aim to preserve Dubai's status as a hub for large asset managers and reduce administrative friction during the disruption. Dubai is moving quickly to protect its status as a leading hub for hedge funds by easing regulatory requirements that were complicated by the regional conflict, Bloomberg reported on April 16, 2026. The Dubai Financial Services Authority (DFSA) has relaxed compliance rules tied to where portfolio managers are licensed, and officials are cutting paperwork to accommodate staff who have relocated or are working remotely since the war began, sources familiar with the matter told Nishant Kumar. "Dubai has drawn the world’s biggest hedge funds in recent years, transforming itself into a hub for the sector," Kumar wrote in the Bloomberg dispatch, underscoring the strategic imperative behind the regulatory tweaks. Context and details According to the Bloomberg report by Nishant Kumar, the changes are aimed primarily at reducing administrative burdens for investment firms whose employees temporarily moved to other jurisdictions after the onset of the conflict in the region. The tweaks — described by people familiar with the matter — focus on easing compliance requirements that are typically tied to the licensing location of portfolio managers. Regulator involved: Dubai Financial Services Authority (DFSA). Primary goal: Cut paperwork and relax compliance tied to portfolio manager licensing. Operational driver: Staff working from home or relocated to other jurisdictions following the outbreak of war. The Bloomberg piece notes that Dubai has attracted some of the world's largest hedge funds in recent years, and the DFSA's moves are intended to shield that momentum from the immediate fallout of conflict. While the report does not name specific firms or quantify capital flows, it frames the adjustments as practical measures to preserve market functioning and investor confidence. Photographs accompanying the coverage captured workers in Dubai’s financial district, credited to Walaa Alshaer/Bloomberg, highlighting the human and operational dimensions behind the policy adjustments. Bloomberg’s reporting suggests the authority is focused on keeping industry operations fluid even as personnel patterns have shifted because of security and travel considerations. Outlook By streamlining paperwork and loosening rules tied to the physical licensing of portfolio managers, Dubai aims to offer hedge funds the flexibility to continue managing assets with minimal disruption. The changes are presented as targeted and procedural rather than a broad overhaul of regulatory standards, and they reflect a pragmatic response to an evolving security environment. Bloomberg’s April 16 report indicates the DFSA-led measures are part of a concerted effort to maintain Dubai’s appeal to global asset managers. While the long-term impact on fund domiciliation and capital inflows remains to be seen, the immediate effect should be to reduce compliance friction for firms operating across jurisdictions during the conflict. --- ## Why UAE Is Becoming the Global Hub for Entrepreneurs and Investors URL: https://startupsmena.com/why-uae-is-becoming-the-global-hub-for-entrepreneurs-and-investors-modern-diplomacy-mobscfos Date: 2026-04-23 Category: other Tags: UAE, startups, investment, free zones, tax policy, entrepreneurship **Summary:** The UAE has rapidly positioned itself as a global hub for entrepreneurs and investors by combining tax-efficient policies, streamlined company formation and strategic connectivity. Success depends on proper structuring, compliance with banking and AML requirements, and realistic budgeting for operational costs. The United Arab Emirates has rapidly reshaped its economy into a magnet for entrepreneurs, startups and international investors by pairing tax-efficient policies with streamlined company formation and world-class connectivity. Cities such as Dubai and Abu Dhabi now function as regional gateways between Europe, Asia and Africa, while free zones and mainland structures offer differentiated routes for market entry, investor protection and operational scale. "For anyone considering international expansion, relocation, or asset structuring, the UAE offers a combination of strategic advantages that are difficult to match elsewhere." What makes the UAE competitive The Modern Diplomacy analysis highlights several concrete advantages driving inbound business activity: Strategic location and connectivity: Dubai and Abu Dhabi are linked by major airports and seaports, facilitating access to billions of consumers within a few hours’ flight. Tax efficiency: The UAE offers 0% personal income tax, competitive corporate tax rates, no capital gains tax in many cases and no withholding taxes—terms that materially raise retained earnings for founders and investors. Business-friendly administration: Faster company registration, simplified reporting requirements and a legal framework designed to protect investors reduce bureaucratic friction. Specialised jurisdictions: Free zones enable 100% foreign ownership and industry-specific ecosystems, while mainland companies provide broader access to the local market and greater flexibility for scaling. The piece warns that benefits are contingent on proper structuring. As Modern Diplomacy puts it, "Poor structuring can eliminate all the benefits you’re aiming for." Entrepreneurs are advised to weigh free zone advantages—such as simplified setup and foreign ownership—against mainland access that may be necessary for government contracts or direct domestic sales. Banking and operational readiness remain practical hurdles. The analysis notes that while the UAE still offers relatively accessible corporate banking compared with many jurisdictions, approvals hinge on clear business activity, transparent ownership structures, proof of operations and compliance with anti-money laundering requirements. Many applicants falter not because the system is closed, but because documentation and preparation are incomplete. Scaling, costs and reputation Beyond tax and logistics, the UAE’s appeal includes reputation and access to capital. Registration in Dubai or Abu Dhabi can enhance credibility with international partners in sectors such as finance, consulting, e‑commerce and IT services. The country also supports startup ecosystems, venture funds and tech initiatives that enable scaling—provided the underlying business model is sound. At the same time, Modern Diplomacy cautions that the UAE is not necessarily low-cost. Entrepreneurs should budget for company registration fees and license renewals and approach expansion with financial discipline and realistic expectations about market traction. Outlook: As regulation stabilises and global trade patterns evolve, the UAE’s combination of strategic geography, fiscal incentives and specialised business jurisdictions positions it as a durable choice for international entrepreneurs. However, the analysis underscores a consistent theme: the jurisdiction amplifies good strategies and exposes weak ones, making expert advice on structuring, compliance and market entry essential for long-term success. --- ## Abu Dhabi signs MoUs to strengthen startup ecosystem and youth entrepreneurship URL: https://startupsmena.com/abu-dhabi-signs-mous-to-strengthen-startup-ecosystem-and-youth-entrepreneurship-fast-company-middle--mobppcrj Date: 2026-04-23 Category: other Tags: startup ecosystem, youth entrepreneurship, Abu Dhabi, SMEs, funding, training **Summary:** Abu Dhabi signed memoranda of understanding to strengthen the emirate’s startup ecosystem and boost youth entrepreneurship by expanding access to funding, training and growth opportunities for SMEs and aligning ADYBC initiatives with national youth programs. The agreements focus on operational support such as financing, skills development and market access rather than large public funding packages. Abu Dhabi has signed memoranda of understanding aimed at strengthening the emirate’s startup ecosystem and boosting youth entrepreneurship, Fast Company Middle East reported on 12.06.2021. The agreements, announced in a short briefing on the outlet’s site, set out to expand practical support for early-stage companies and to link youth-focused business programming with national initiatives. "The MoUs aim to boost youth entrepreneurship by expanding access to funding, training, and growth opportunities for SMEs," Fast Company Middle East said. The coverage notes that the collaboration will align ADYBC initiatives with national youth programs, a move intended to broaden the channels through which young entrepreneurs can participate in economic activity. While the report did not publish the names of the signatory parties or specific financial commitments, it described the scope of the agreements in practical terms: improved access to funding, increased training offerings and new pathways for growth for small and medium-sized enterprises (SMEs). Key initiatives outlined Expand access to funding for startups and SMEs; Provide training programs tailored to young entrepreneurs; Create structured growth opportunities to help SMEs scale; Align ADYBC initiatives with national youth programs to increase participation in priority growth sectors. Fast Company Middle East’s report positions the memoranda as focused on operational support — from financing and skills development to market access — rather than describing broader policy reform or large public funding packages. The reference to ADYBC signals a specific institutional focus: coordinating youth-targeted entrepreneurship programming so that it dovetails with existing national youth strategies and sector priorities. Although the piece did not provide direct comments from Abu Dhabi officials or detailed timelines for implementation, its framing suggests the agreements are intended to create more systematic pathways for young founders to move from idea to commercial activity. By tying youth entrepreneurship work to national youth programs, the MoUs aim to widen the funnel through which young entrepreneurs can access mentorship, training and market opportunities. Looking ahead, the measures described in Fast Company Middle East’s account are likely to shape the immediate operating environment for early-stage businesses in Abu Dhabi by clarifying where young entrepreneurs can seek support and by coordinating institutional efforts. The report implies an ambition to increase youth participation in the economy and to channel entrepreneurial activity toward the emirate’s priority sectors, although further details on implementation, budgets and partner roles were not included in the published item. --- ## Dubai SME partners with noon Food to scale Emirati F&B businesses through digital platform URL: https://startupsmena.com/dubai-sme-partners-with-noon-food-to-scale-emirati-fb-businesses-through-digital-platform-fast-compa-mobpm00a Date: 2026-04-23 Category: tech Tags: **Summary:** Participating SMEs will be provided with onboarding assistance, operational support, account management, and regular performance reporting. Dubai SME has partnered with noon Food to scale Emirati food and beverage businesses through a digital platform, Fast Company Middle East reports. Participating SMEs will be provided with onboarding assistance, operational support, account management, and regular performance reporting, according to the announcement on Fast Company Middle East’s site. Direct quote "Scale Emirati F B businesses through digital platform," Fast Company Middle East stated in its reporting on the collaboration. Context and details The brief report names Dubai SME and noon Food as the partners in the initiative but provides limited operational detail beyond the support services listed for participating small and medium-sized enterprises. The services noted — onboarding assistance, operational support, account management and regular performance reporting — suggest a hands-on programme designed to help local F B brands enter or expand on a digital marketplace. The announcement appeared among a slate of regional business and technology stories on Fast Company Middle East, alongside coverage of partnerships and investments across the UAE and wider GCC. Recent headlines on the site included an AD Ports Group and NYU Abu Dhabi collaboration to optimise port operations with predictive intelligence; Uber’s 'Pass It On' notebooks spreading unity in the UAE; Abu Dhabi MoUs aimed at strengthening the startup ecosystem and youth entrepreneurship; and larger infrastructure news such as Dubai’s AED 34 billion Golden Line metro project, which the site reports will expand the metro network by 35% by 2032. AD Ports Group and NYU Abu Dhabi teamed up on predictive intelligence for port operations. Uber introduced 'Pass It On' notebooks in select Dubai rides. Abu Dhabi signed MoUs to strengthen the startup ecosystem and youth entrepreneurship. Dubai unveiled an AED 34 billion Golden Line metro expansion expected to grow the network by 35% by 2032. Outlook Fast Company Middle East’s report does not specify timelines, target numbers of SMEs, or any funding commitments attached to the Dubai SME–noon Food partnership. If the programme follows the services outlined, participating Emirati F B brands can expect a combination of technical onboarding and ongoing account management that could accelerate sales and operational readiness on noon Food’s digital channels. Observers will be watching for follow-up announcements detailing rollout schedules, eligibility criteria for SMEs, and measurable objectives for growth and performance reporting. --- ## Egypt steps up efforts to shield startups, SMEs from global headwinds: MSMEDA chief URL: https://startupsmena.com/egypt-steps-up-efforts-to-shield-startups-smes-from-global-headwinds-msmeda-chief-mobp47mu Date: 2026-04-23 Category: tech Tags: **Summary:** The efforts are also focused on transforming the country’s entrepreneurship ecosystem from an opportunity-rich market into one driven by value and measurable results: official Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), said Egyptian state entities are coordinating closely to shield startups and small and medium-sized enterprises (SMEs) from the effects of global economic headwinds. Rahmy made the remarks while chairing a high-level roundtable organised by Intilaaqah in cooperation with Coalition Africa under the theme “Policies and Investment in Startups in Egypt”, a session aimed at accelerating the country’s startup investment ecosystem. “Periods of economic stress can serve as a catalyst for more resilient and efficient outcomes, paving the way for sustainable growth models across the startup landscape,” Rahmy said, setting the tone for discussions that brought together senior policymakers, international partners, banking sector representatives and investors. Roundtable focus and participants The event formed part of MSMEDA’s wider push to support entrepreneurship, expand cooperation with private-sector players and strengthen ties with international institutions. Rahmy stressed that the agency’s efforts are aligned with the regulatory framework set out in the Startup Charter, which the government launched in February. He also reiterated MSMEDA’s commitment to implementing directives from Prime Minister Mostafa Madbouly, who chairs the agency’s board. Organisers: Intilaaqah and Coalition Africa MSMEDA leadership: CEO Bassel Rahmy; board chaired by Prime Minister Mostafa Madbouly International partners in attendance: Amahoro Coalition, Draper Richards Kaplan Foundation, Swiss Agency for Development and Cooperation Theme: “Policies and Investment in Startups in Egypt” Participants used the roundtable to map out investment opportunities and challenges facing Egypt’s entrepreneurship sector, review priority sectors targeted by the government, and discuss recent updates to the Startup Charter as a central regulatory tool supporting startup growth. Rahmy warned that access to finance alone would not be enough to secure sustainable growth, calling instead for more rigorous decision-making and coordination. “Achieving sustainable growth amid ongoing global economic shifts requires more than access to finance,” he said, urging stakeholders to embrace “precise decision-making, data-driven strategies, and deeper coordination among all actors supporting the ecosystem.” Next steps and outlook The session closed with a concrete call to create a structured mechanism for continuous coordination between government bodies, investors and international partners. Advocates at the roundtable argued that such a mechanism would better align resources, avoid duplication, and accelerate the scaling of Egyptian startups — helping the sector contribute more directly to broader economic development objectives. MSMEDA’s public stance and the participation of international development and philanthropy organisations underline a policy shift toward treating entrepreneurship as a value-driven sector where measurable results and regulatory clarity matter as much as capital. With the Startup Charter providing a legal and regulatory backbone, MSMEDA and its partners are moving to convert regional and geopolitical challenges into opportunities to build resilience and long-term, sustainable growth across Egypt’s startup ecosystem. --- ## The 16 Largest Global Startup Funding Rounds of March 2026 URL: https://startupsmena.com/the-16-largest-global-startup-funding-rounds-of-march-2026-alleywatch-mobp0zy6 Date: 2026-04-23 Category: tech Tags: **Summary:** Round: Series A Description: Long Beach-based Vast develops commercial space stations and long-term space habitats. Founded by Jed McCaleb in 2021, Vast has now raised a total of $450M in total equity March 2026’s largest startup financings were led by a wave of deals in AI infrastructure, robotics and advanced mobility, with dozens of transactions but a handful registering headline-grabbing sums. According to a roundup by Reza Chowdhury using CrunchBase data, the “top two rounds alone exceeded $3.8B,” underscoring continued investor appetite for both foundational AI companies and capital-intensive hardware plays. "Looking at the largest global startup funding rounds from March 2026, leveraging data from CrunchBase, we've identified the most significant venture capital deals of the month — a cohort dominated by AI infrastructure, defense autonomy, and robotics, with the top two rounds alone exceeding $3.8B," Chowdhury wrote. Selected largest rounds and company details Also — $200.0M, Series C: Palo Alto-based Also, founded by Chris Yu in 2025, raised $200 million to scale small electric vehicles and modular electric bikes. The company has now raised $505 million in total equity and counts DoorDash, Greenoaks and Prysm Capital among backers. Axiom — $200.0M, Series A: Also in Palo Alto, Axiom — founded by Carina Hong in 2025 — develops AI tools for verifying proofs and mathematical reasoning. The round brings Axiom’s total equity to $264 million with investors including Menlo Ventures, Madrona, B Capital and Toyota Ventures. eMed — $200.0M, Series A: Miami-based eMed, founded by Dr. Patrice A. Harris in 2020, raised $200 million to expand employer-sponsored population health programs that pair GLP-1 treatment with clinical support. Investors named in the round include Aon, Joe Lonsdale, Tom Brady and Jeff Aronin. Eridu — $200.0M, Series A: Saratoga startup Eridu, founded in 2024 by Drew Perkins, Mike Capuano and Omar Hassen, secured $200 million to build AI networking infrastructure for large-scale AI systems. Backers include Bosch Ventures, MediaTek and Hudson River Trading. Harvey — $200.0M, Series G: San Francisco-based legal AI provider Harvey, founded by Gabe Pereyra and Winston Weinberg in 2022, raised $200 million in a round that follows $1.2 billion in total equity funding. The company lists OpenAI, Andreessen Horowitz, Sequoia Capital and Kleiner Perkins among its supporters. HT Aero — $200.0M, Venture round: Tianhe’s HT Aero, founded by Zhao Deli in 2013 and focused on electric flying vehicles, added $200 million, pushing its total equity raised to $950 million with investors including Gaorong Capital and Shenzhen Capital Group. Halter — $220.0M, Series E: Auckland-based Halter, which develops smart collars and virtual fencing for livestock, raised $220 million. Founded by Craig Piggott and Max Olson in 2016, Halter has now raised roughly $418.4 million and is backed by Bessemer, Founders Fund and Bond. Kandou AI — $225.0M, Series A: Swiss chip and interconnect specialist Kandou AI, founded by Amin Shokrollah in 2011, raised $225 million, bringing total equity to about $504.7 million with participation from SoftBank Group, Synopsys and Bessemer. Grafana Labs — $250.0M, Series E: New York-based Grafana Labs, the open observability platform founded in 2014 by Anthony Woods, Raj Dutt and Torkel Odegaard, closed a $250 million round and has raised $1.1 billion to date with investors such as Lightspeed, Sequoia and Coatue. Context: the March list compiled by Chowdhury reflects broader allocation trends within venture markets — large cheques flowing to compute-heavy AI infrastructure and capital-intensive hardware firms alongside continued bets on vertical enterprise AI such as legal and health tech. Several companies on the list report prior totals that place them well into late-stage territory, while others are younger firms taking early-but-substantial Series A or B financings. Outlook: with the month’s two largest rounds alone topping $3.8 billion, investors appear focused on backing companies that can deliver both software differentiation and hardware or systems integration at scale. For founders and limited partners, the March data suggest sustained conviction in AI-enabling stacks, advanced mobility and sector-specific AI applications as durable investment themes into 2026. --- ## Al Alawi Calls for a recovery initiative to connect Bahraini companies with venture and global capital URL: https://startupsmena.com/al-alawi-calls-for-a-recovery-initiative-to-connect-bahraini-companies-with-venture-and-global-capit-mobov2aw Date: 2026-04-23 Category: fintech Tags: fintech, funding, venture capital, Bahrain, payments **Summary:** Nayef Tawfiq Al Alawi, Founder and CEO of EazyPay, urged the creation of a dedicated recovery initiative or fund to help Bahraini companies access venture and international capital, citing EazyPay's ties with global institutions and payment partners. He proposed combining capital, expertise exchange and institutional linkages to boost liquidity and connect local firms with global investors. Mr. Nayef Tawfiq Al Alawi, Founder and Chief Executive Officer of EazyPay, has urged the creation of a dedicated recovery initiative or fund to help Bahraini companies access venture and international capital. Al Alawi told BizBahrain that while “the government’s support for the private sector has played a significant role in helping businesses navigate current conditions,” sustained momentum will require fresh private-sector thinking, stronger liquidity and new financing pathways that connect local firms with global investors. “The government’s support for the private sector has played a significant role in helping businesses navigate current conditions. However, maintaining momentum will also require fresh thinking from the private sector itself, particularly in strengthening liquidity and securing funding that can support growth over the short and medium term. In this context, we propose the establishment of a dedicated recovery initiative or fund that would bring together institutions and experts to improve access to capital, encourage the exchange of expertise, and help companies explore new financing pathways.” said Mr. Al Alawi. Context and details Al Alawi pointed to regional precedents such as the Saudi SAQL fund, launched through a collaboration between the Public Investment Fund and State Street, as an example of how international asset management expertise can be married with local capital to attract foreign investment. He said: “Bahrain can draw valuable lessons from initiatives emerging elsewhere in the region, such as Saudi Arabia’s recent launch of the SAQL fund through a collaboration between the Public Investment Fund and State Street. These models demonstrate how international asset management expertise and advanced financial systems can be combined to attract foreign investment in a more structured and transparent way.” EazyPay, Al Alawi noted, already has ties to major global institutions. “EazyPay’s engagement with major global institutions, including BlackRock, has provided valuable insight into the frameworks and investment approaches used by leading asset managers,” he said, describing that experience as a foundation for building channels to international liquidity through modern investment structures and technology-enabled platforms. The company’s commercial partnerships were highlighted as practical levers to integrate Bahraini fintechs with global programs. “EazyPay’s partnerships with Visa and Mastercard offer a practical foundation for linking Bahraini tech ventures with global investment programs. This could help promising companies in payments and FinTech gain access to venture capital firms seeking scalable innovation and strong growth potential,” Al Alawi said. Al Alawi stressed that the proposed recovery initiative would not only supply capital but also “encourage the exchange of expertise,” suggesting a hybrid approach that combines funding with knowledge transfer and institutional linkages to sovereign wealth funds and other major investors. Outlook Al Alawi affirmed that Bahrain has the potential to create mechanisms that give local businesses “stronger visibility among international investors and create more effective links with global capital markets.” He framed EazyPay as a potential catalyst in that effort, offering both technical infrastructure and strategic partnerships to help translate local capability into globally investable opportunities. If realized, the recovery initiative Al Alawi proposes would aim to strengthen short- and medium-term liquidity for Bahraini firms while opening channels to venture and institutional capital abroad, leveraging lessons from regional models and the company’s own international network to boost the kingdom’s access to cross-border financing. --- ## Electronic Direct Debit Through BENEFIT’s Platforms, Driving Innovation in the Digital Payments Ecosystem URL: https://startupsmena.com/electronic-direct-debit-through-benefits-platforms-driving-innovation-in-the-digital-payments-ecosys-moboxtj6 Date: 2026-04-23 Category: tech Tags: **Summary:** This launch marks an important ... It also reflects the direction set by the Central Bank of Bahrain to reinforce the Kingdom’s standing as a leading regional hub for innovation in digital payments an Bahrain payments operator BENEFIT has launched a digital direct debit service via Fawateer on the BenefitPay app, a move the company says will automate collections, tighten security and support account‑to‑account payments across the Kingdom. The rollout comes as Bahrain’s Electronic Fund Transfer System (EFTS) recorded 494 million online transactions in 2025, a 10.7% increase on 2024, with total transaction value rising to BD 37.5 billion from BD 33.3 billion the year before — growth of 12.6%. "This launch marks an important new stage in the Kingdom’s digital financial transformation and represents a meaningful step forward in the continued development of Bahrain’s digital payments ecosystem. It also reflects the direction set by the Central Bank of Bahrain to reinforce the Kingdom’s standing as a leading regional hub for innovation in digital payments and FinTech." Context and technical details The BENEFIT digital direct debit integrates billing systems, invoice platforms and customer‑facing apps through application programming interfaces (APIs), enabling instant authorizations and automated reconciliation. The service supports ISO 20022 messaging standards for financial data exchange, which BENEFIT highlights as a foundation for smoother enterprise resource planning (ERP) integration and more efficient accounting. Launched against a backdrop of rapid digital adoption accelerated by the Covid‑19 pandemic, the new capability replaces many conventional paper‑based procedures with a fully digital and paperless workflow. BENEFIT describes the service as offering a range of direct debit options across different timeframes to match customer preferences, while enabling collections to be scheduled automatically on due dates to support stronger cash‑flow management for merchants and institutions. Operational automation: authorization and collection processes are digitized to reduce manual data entry and administrative costs. Fraud reduction: use of trusted customer data and secure digital channels aims to lower the risk associated with traditional paper methods. Instant activation: direct debit authorizations can be activated immediately, eliminating manual processing delays. Standards‑based integration: ISO 20022 compatibility facilitates reconciliation and ERP integration. From the consumer perspective, BENEFIT positions the service as simplifying payment experiences and supporting environmental sustainability by eliminating paper authorizations. For businesses — utilities, telcos, subscription services and others — the automation is intended to cut errors, reduce cost and stabilize receivables. Outlook The introduction of digital direct debit through BenefitPay aligns with the Central Bank of Bahrain’s policy direction to deepen the Kingdom’s payments infrastructure and sharpen its FinTech appeal. As online transaction volumes and values continue to climb — with EFTS volumes reaching nearly half a billion transactions in 2025 — BENEFIT’s move is likely to accelerate adoption of account‑to‑account flows, open banking and other embedded finance services. By building the capability on APIs and international messaging standards, BENEFIT aims to create a reusable platform for future fintech innovations, enabling third‑party services and enterprises to plug into Bahrain’s growing digital payments fabric. The company frames the launch as a step toward "smarter forms of money" and a more interconnected financial infrastructure that supports both market participants and national ambitions for digital economic transformation. --- ## Digital adoption fuels GCC FinTech expansion URL: https://startupsmena.com/digital-adoption-fuels-gcc-fintech-expansion-mobosdri Date: 2026-04-23 Category: fintech Tags: GCC, FinTech, AI, Digital payments, Regulation, Blockchain **Summary:** A report cited by IBS Intelligence says the GCC FinTech market is entering sustained expansion driven by digital adoption, AI integration and regulatory support. IMARC projects growth from USD 7.3 billion in 2025 to USD 26.8 billion by 2034 at a 15.52% CAGR. The FinTech market in the Gulf Cooperation Council (GCC) is entering a sustained expansion phase driven by digital adoption, regulatory support and rapid technological innovation, according to a report cited by Parth Prabhudesai for IBS Intelligence on April 22, 2026. IMARC Group estimates the GCC FinTech market was valued at USD 7.3 billion in 2025 and projects it will reach USD 26.8 billion by 2034, reflecting a compound annual growth rate (CAGR) of 15.52% between 2026 and 2034. The region’s growth is being underpinned by widespread AI integration across banking and payments, rising smartphone and internet penetration, and supportive regulatory initiatives. "The FinTech market in the Gulf Cooperation Council (GCC) region is entering a phase of sustained expansion, driven by digital adoption, regulatory support, and rapid technological innovation." Key drivers and industry response AI and machine learning: The report highlights that "AI is playing a critical role in enhancing fraud detection and risk management by enabling real‑time analysis of large datasets." Financial institutions across the GCC are adopting machine learning tools to bolster cybersecurity, improve compliance and reduce false positives. Personalisation and customer engagement: By analysing customer behaviour and transaction patterns, FinTechs are delivering tailored investment advice, credit assessments and product recommendations, boosting digital banking adoption. Operational efficiency: Automation technologies—chatbots, robotic process automation (RPA) and other automation—are streamlining underwriting, claims processing and customer support, lowering costs and enabling scale. Payments and commerce: Rising consumer preference for cashless transactions, e‑commerce growth and expanding cross‑border trade are increasing demand for secure digital payment and cross‑border payment solutions. New product sets: The adoption of blockchain, digital wallets and buy‑now‑pay‑later (BNPL) offerings is reshaping consumer behaviour and widening access to financial services. Regulatory support is explicitly cited as a major growth enabler. Authorities named in the coverage include the Saudi Central Bank, Abu Dhabi Global Market, Central Bank of Bahrain and the Dubai International Financial Centre—each advancing sandboxes, open banking frameworks and streamlined licensing processes that encourage both startups and established firms to expand in the market. The report also points to the social impact of technology: "AI‑driven credit assessment models are also improving financial inclusion by enabling underserved individuals and small businesses to access financing." That trend, coupled with investor interest, is visible in adjacent market activity; related IBS Intelligence headlines note deals such as PrimeInvestor securing $2m to grow portfolio management services and research capabilities. Outlook With IMARC projecting growth from USD 7.3 billion in 2025 to USD 26.8 billion by 2034 at a 15.52% CAGR, the GCC FinTech landscape is set to become more competitive and diverse. Continued AI deployment in fraud detection, personalised services and back‑office automation—together with regulator‑led experimentation and clearer licensing routes—positions the region for sustained investment and product innovation. For incumbent banks and new entrants alike, the challenge will be converting regulatory openness and technological capability into profitable, scalable services that expand financial inclusion across the GCC. --- ## Technopark Casablanca Panel Explores Startup Investment Readiness in Morocco URL: https://startupsmena.com/technopark-casablanca-panel-explores-startup-investment-readiness-in-morocco-mobklhli Date: 2026-04-23 Category: tech Tags: **Summary:** Casablanca – Technopark (MITC) hosted a panel discussion on Wednesday at its Casablanca site, bringing together legal experts, investors, and startup founders to examine the practical steps and common Casablanca – Technopark (MITC) hosted a panel discussion on Wednesday at its Casablanca site that brought together legal experts, investors and startup founders to examine practical steps and common pitfalls tied to fundraising in Morocco’s tech sector. The session focused on executional gaps startups face when moving from idea to investor-ready, with panelists and founders detailing legal structuring, taxation, data and intellectual property considerations. "Rather than a lack of ideas or talent, she noted shortcomings in preparation when entering discussions with investors," said Lamiae Benmakhlouf, Director General of Technopark, opening the session and framing the day’s agenda. Panel and perspectives The discussion featured legal and investment specialists who addressed the intersection of law, tax and dealmaking, alongside founders who shared on-the-ground experience. Speakers included: Hajar Benyachou, Sila Law Firm Julien Nouchi, Gide Loyrette Nouel Kelly Hazan, Bird Bird Nihal Grii, Renew Capital Simo Zizi, Co-Founder and CEO of Jobzyn Maha Bennani, Co-Founder and CEO of LNKO Moderator: Hamza Debbarh, Founder and CEO of ARK-X Founders Simo Zizi and Maha Bennani outlined practical hurdles in early-stage rounds, from how to approach investors to structuring initial deals, while legal experts walked through common friction points such as unclear deal terms and insufficient preparation ahead of investor engagement. The audience—made up largely of entrepreneurs and investors—pressed the panel on valuation, timing and the role of advisers at different stages of a raise. Key takeaways Across the panel, a consistent takeaway emerged: "Startups are expected to anticipate constraints early, build a clear structure, and align with investor expectations before entering negotiations." Panelists emphasized the need for founders to get basic legal, tax and IP matters in order well before pitching, and to use advisors strategically as the company matures. The event underscored the broader momentum in Morocco’s startup ecosystem: Moroccan startups raised close to $95 million across 40 deals in 2024, nearly tripling the previous year’s total, the panel noted. Public policy is also steering capital toward the sector—Morocco announced a MAD 1.3 billion package under its Digital 2030 strategy in December 2025, including MAD 450 million for venture capital and MAD 70 million to expand the Technopark network, with a target to create 1,000 startups by 2026. Technopark said the discussion forms part of ongoing, hands-on support for founders: a workshop on go-to-market strategy is scheduled for April 29 in Rabat to help startups structure commercial launches and secure initial customers. With both private capital and public funds increasingly active, the panel left a clear message for founders: strong preparation and alignment with investor expectations are prerequisites for successful fundraising in Morocco’s growing tech market. --- ## Jordan lays tracks for growth with $2.3 billion rail project URL: https://startupsmena.com/jordan-lays-tracks-for-growth-with-23-billion-rail-project-the-national-mobkiebm Date: 2026-04-23 Category: logistics Tags: rail, infrastructure, Aqaba, Jordan-Emirati JV, phosphate, potash **Summary:** The $2.3 billion Aqaba Port Railway Project is a 360km freight rail joint venture between UAE-based L’imad Holding and Jordanian sovereign/industrial partners to link mining areas to Aqaba port and move about 16 million tonnes annually. The Jordanian government and Emirati partners have launched the Aqaba Port Railway Project, a $2.3 billion infrastructure scheme that will build a 360km freight railway linking phosphate and potash production areas at Shidiya and Ghor Al‑Safi to Aqaba’s Industrial Port. The project — structured as a 50:50 Jordanian‑Emirati joint venture between UAE‑based L’imad Holding and Jordanian sovereign and industrial partners — is expected to move about 16 million tonnes annually, markedly reducing transport costs and improving export efficiency. "This is what “from vision to reality” means in economic terms," Muhannad Shehadeh wrote, underscoring the government’s shift from planning to execution. Shehadeh is Jordan’s Minister of State for Economic Affairs and head of the government economic team. Project structure and strategic rationale The rail link is being presented not simply as a transport project but as a strategic platform for broader regional infrastructure investment. Implemented through a 50:50 joint venture, the partnership pairs L’imad Holding’s capital and expertise with Jordanian sovereign and industrial assets to create a foundation for what the government describes as a major regional infrastructure platform. Officials say the line will connect mineral extraction zones directly to port facilities in Aqaba, streamlining the logistics chain for two of Jordan’s key export commodities: phosphate and potash. The projected annual throughput of roughly 16 million tonnes is intended to cut unit transport costs and shorten export cycles for mining firms operating in the Shidiya and Ghor Al‑Safi areas. Cost and scale: $2.3 billion investment to construct a 360km freight railway. Ownership: 50:50 Jordanian‑Emirati joint venture involving L’imad Holding and Jordanian sovereign/industrial partners. Throughput: approximately 16 million tonnes per year targeted. Economic context and wider programme The Aqaba rail project sits within Jordan’s Economic Modernisation Vision for 2026–2029. Under the executive programme, the government has identified 392 projects that are expected to be financed in partnership with the private sector and supported by investments of about 10 billion Jordanian dinars (approximately $14.1 billion). The approach prioritises bankable projects in water, transport, energy and infrastructure and explicitly welcomes cross‑border investment. Other headline programmes cited alongside the rail scheme include the National Water Conveyance Project and Amra City, the latter described by officials as a long‑horizon urban and investment platform that could activate more than 50 economic sectors. Domestic indicators cited in the announcement include a rise in company registrations in the first quarter of 2026 and strong corporate earnings on the Amman Stock Exchange. The International Monetary Fund was referenced to highlight macroeconomic stability, noting Jordan’s economy grew by 2.8 per cent in 2025 and that inflation remained below 2 per cent, with momentum strengthening in early 2026 — factors government officials say are critical to attracting long‑term regional capital. Outlook: By combining Jordanian assets with Emirati investment and expertise, the Aqaba Port Railway Project is being positioned as more than a domestic logistics upgrade. Planners expect it to enhance export competitiveness, lower costs for mineral producers, and serve as a template for future large‑scale, cross‑border infrastructure partnerships aimed at driving investment‑led growth across multiple sectors. --- ## Egypt pitches itself as gateway to Middle East, Africa for Finnish investors URL: https://startupsmena.com/egypt-pitches-itself-as-gateway-to-middle-east-africa-for-finnish-investors-dailynewsegypt-mobgkjac Date: 2026-04-23 Category: other Tags: investment, digital transformation, clean energy, manufacturing, Suez Canal Economic Zone, green hydrogen, water desalination, 5G, AI, education, healthcare, AfCFTA **Summary:** Egypt pitched itself to Finnish investors as a strategic gateway to the Middle East and Africa, highlighting opportunities in digital transformation, clean energy, manufacturing, healthcare and education and offering incentives such as the Suez Canal Economic Zone and streamlined investment reforms. The government invited Finnish expertise in 5G, AI and renewable technologies to support initiatives like Digital Egypt and green hydrogen projects. Egyptian Prime Minister Mostafa Madbouly urged Finnish investors to view Egypt as a strategic gateway to the Middle East and Africa at the Egyptian-Finnish Business Forum held at the headquarters of the General Authority for Investment and Free Zones (GAFI) in Cairo. Madbouly highlighted priority sectors including digital transformation, clean energy and manufacturing, and invited Finnish companies to leverage Egyptian labour, trade agreements such as the African Continental Free Trade Area, and joint manufacturing projects to access an estimated market of approximately 1.3 billion consumers. The forum was attended by Finland’s President Alexander Stubb and senior Egyptian and Finnish officials. "Egypt is committed to acting as a partner to investors rather than merely a regulatory body, adding that officials are keen to listen to and resolve any challenges to ensure the success and sustainability of investments," Madbouly said, framing the government’s approach as facilitative and investor-oriented. Madbouly set out concrete incentives and reforms designed to attract Finnish capital. He pointed to structural reforms that have modernised the legislative framework for investment protection, simplified company formation procedures, and focused on developing advanced infrastructure. He also singled out the Suez Canal Economic Zone as offering distinct incentives for Finnish companies looking to export to global markets. Opportunities flagged by the prime minister drew directly on areas of Finnish expertise. Madbouly called on Finnish partners to support the "Digital Egypt" strategy by leveraging Finland’s know-how in 5G technologies and artificial intelligence. He also identified collaboration in clean energy and water — specifically green hydrogen, water desalination and waste-to-energy projects — as priorities that align with Egypt’s green transition and Finland’s strengths in renewable energy and the circular economy. Priority sectors named: digital transformation, clean energy, manufacturing, healthcare and education. Trade and market access: use of African Continental Free Trade Area to reach ~1.3 billion consumers. Incentive zone: Suez Canal Economic Zone highlighted for export-oriented projects. Reforms: modernised investment protection laws, streamlined company formation, upgraded infrastructure. The forum convened a high-level Egyptian delegation including Minister of Education and Technical Education Mohamed Abdel Latif, Minister of Investment and Foreign Trade Mohamed Farid, and GAFI Chief Executive Mohamed El-Gawsaky. Finland’s delegation included Deputy Minister of Economic Affairs and Employment Timo Jaatinen, Deputy Minister of Foreign Affairs for International Trade Jarno Syrjälä, and Finland’s Ambassador to Egypt, Riikka Eela. Madbouly described President Stubb’s visit as an important milestone in bilateral relations and expressed hope that the forum would catalyse new partnerships. Looking ahead, prospects for cooperation extend beyond infrastructure and energy to healthcare and education, where Madbouly suggested adopting aspects of the Finnish educational model and modern medical technologies to bolster Egypt’s human capital and support sustainable, long-term investment. --- ## Saudi tech startup Signit raises $15mln URL: https://startupsmena.com/saudi-tech-startup-signit-raises-15mln-mobggrz8 Date: 2026-04-23 Category: saas Tags: digital signatures, contract management, AI, Series A, Saudi Arabia, Raed Ventures **Summary:** Saudi electronic-signature and AI contract-management startup Signit has raised $15 million in a Series A led by Raed Ventures with participation from STV, Seedra, Takamol and Suhail Ventures. The funds will be used to scale the company's operations across Saudi Arabia. Saudi technology startup Signit has raised $15 million in a Series A funding round led by Riyadh-based Raed Ventures, the company announced via a Zawya report. The round included participation from prominent Saudi venture capital firms STV, Seedra Ventures, Takamol Ventures and Suhail Ventures, and the funds will be used to expand Signit’s footprint across the kingdom. "The company, which specialises in digital signatures and AI-driven contract management, will use the fresh capital to scale its operations across Saudi Arabia," the Zawya report said. Deal specifics and backers The $15 million Series A underscores growing investor appetite for digital trust and contract automation solutions in Saudi Arabia. Lead investor Raed Ventures is based in Riyadh, while co-investors STV, Seedra Ventures, Takamol Ventures and Suhail Ventures represent established players in the Saudi venture ecosystem. Amount raised: $15 million Round: Series A Lead investor: Raed Ventures (Riyadh) Participating investors: STV, Seedra Ventures, Takamol Ventures, Suhail Ventures Product, customers and market position Signit provides an electronic signing platform coupled with AI-driven contract management capabilities. According to the report, the platform enables businesses and organisations to sign agreements electronically and manage contractual workflows more efficiently. The startup already counts "hundreds of customers" across a diverse mix of sectors, including financial services, healthcare, enterprise and government, positioning it to capitalise on digital transformation efforts within both private and public institutions in Saudi Arabia. Signit’s combination of digital signatures and AI-based contract lifecycle management targets a practical problem for enterprises: reducing friction in legally binding transactions while improving the speed and oversight of contract processes. Electronic signatures, automated routing, and AI-assisted clause analysis are among the features that service providers in this space typically deploy to drive adoption in regulated industries such as finance and healthcare. Outlook With fresh capital, Signit plans to scale operations across Saudi Arabia, a market where regulatory acceptance of electronic signatures and digital documentation has been rising. The participation of domestic venture capital firms — including Raed Ventures and STV — signals confidence in the startup’s proposition and the broader market opportunity. The Zawya report was written by Cleofe Maceda and edited by Seban Scaria. The article includes a standard disclaimer noting that "This article is provided for informational purposes only," reflecting the publisher’s editorial framing of the funding announcement. --- ## Saudi-Funded Metal Slug Reboot Looks To Be Taking The Series Back To Its Pixel Art Roots URL: https://startupsmena.com/saudi-funded-metal-slug-reboot-looks-to-be-taking-the-series-back-to-its-pixel-art-roots-time-extens-mobgbl2u Date: 2026-04-23 Category: tech Tags: **Summary:** That's if this new job description is anything to go by - A new job description has been spotted on the SNK website stating that SNK's Osaka studio is curren... SNK's Osaka studio has posted a job listing for "2D dot animators (pixel artists)" on the company website, a move that has renewed speculation the Saudi-backed publisher may be returning its Metal Slug franchise to classic pixel-art form. The listing was spotted alongside SNK's recent 30th-anniversary activity for Metal Slug, which included a celebratory video and a new anniversary website that promised a "wide range of exciting projects—including new ventures in gaming." "２Dデザイナー（ドットアニメーター）を募集中" — the tweet that flagged the posting — was shared by ガト/ Gatoray (@gatoray_kof) on April 19, 2026, drawing attention from fans and industry watchers who link the recruitment drive to the teaser for future Metal Slug entries. Teasers, recruitments and related projects Over the weekend SNK released a 30th-anniversary video that recapped footage from existing Metal Slug titles and then offered a brief tease of what might come next. The clip showed an arcade cabinet displaying the words "Mission Reboot" and a desert scene topped with the tagline "A New Adventure Awaits." At the same time SNK launched an anniversary website confirming the company was working on numerous projects but stopping short of revealing concrete details on whether future entries would adopt a "classic pixel-art aesthetic" or a modern 2.5D approach similar to the mobile game Metal Slug Awakening. If the Osaka studio's call for pixel animators is in fact linked to the teased projects, it would suggest the company is leaning toward the "detailed pixel art" that defined the series' early success. For many fans the franchise is synonymous with intricate sprite work and animated backgrounds, and a return to that style would represent a deliberate creative choice against current retro-modern hybrids. Job posting: SNK Osaka studio is recruiting 2D dot animators (pixel artists). Anniversary teaser: Arcade cabinet reading "Mission Reboot" and tagline "A New Adventure Awaits." Company note: Anniversary site promises a "wide range of exciting projects—including new ventures in gaming." Related hardware move: SNK partnered with Embracer-owned Plaion Replai to sell the Neo Geo+ AES and reissue several SNK titles, including the original Metal Slug. That Neo Geo+ AES partnership—announced as a recreation of SNK's classic home console launching alongside reissues of older titles—has itself drawn mixed reactions. Frank Cifaldi of the Video Game History Foundation was among those to criticise the venture, pointing to SNK and Embracer's ties to Saudi interests. SNK's current owner, the Mohammed bin Salman Foundation (MiSK), founded by Crown Prince Mohammed bin Salman, was repeatedly referenced in coverage of the anniversary and associated projects. Outlook: For Metal Slug fans, the combination of a pixel-artist recruitment and an anniversary tease is a promising sign that SNK may be preparing a reboot that honours the series' sprite-driven heritage. At the same time, the company's ownership and recent hardware partnerships mean the reception to any new entry will be shaped as much by cultural and corporate context as by the game's visual direction. --- ## How Saudi Arabia's entertainment investments are playing out at home and abroad : NPR URL: https://startupsmena.com/how-saudi-arabias-entertainment-investments-are-playing-out-at-home-and-abroad-npr-mobg8bep Date: 2026-04-23 Category: other Tags: entertainment, investment, Saudi Arabia, Public Investment Fund, media **Summary:** The piece examines Saudi Arabia's Public Investment Fund and other Gulf wealth funds pledging about $24 billion toward the Paramount/Skydance and Warner Bros. Discovery transactions, highlighting goals of soft power, economic diversification and cultural liberalization alongside concerns about influence-seeking. NPR's Scott Detrow spoke with Scott Roxborough of The Hollywood Reporter about the growing footprint of Saudi investment in global entertainment, and how those investments are playing out in deals at home and abroad. Several Persian Gulf wealth funds, including Saudi Arabia's Public Investment Fund (PIF), have pledged a total of $24 billion for Paramount's attempted takeover tied to the potential Paramount Skydance/Warner Bros. Discovery transactions, a move that critics and insiders say mixes commercial aims with geopolitics and influence-seeking. "Powerful parties want the Paramount Skydance and Warner Bros Discovery merger to succeed. And no, we're not talking about President Trump or the Ellison family," Detrow said on All Things Considered, noting the $24 billion pledge. Roxborough told NPR that the Saudi investments are part of a broader strategy to build relationships with influential U.S. figures and institutions. Roxborough framed the investments as pursuing three overlapping goals set out by Crown Prince Mohammed bin Salman: "this sort of soft power investment," reducing Saudi Arabia's dependence on oil and gas revenues, and "to really open up the country inside to sort of liberalize its cultural offerings." He warned, however, that those aims face limits given market realities and political pushback. Key details Committed capital: $24 billion from Persian Gulf wealth funds, including Saudi Arabia's Public Investment Fund. Targets and assets at stake: Paramount's attempted takeover and a deal that would touch CNN, HBO and a film catalog with rights to Batman, Superman and Harry Potter. Structural limits: Roxborough noted the PIF stake "does not give them a controlling stake of Warner Bros on paper" — "they're not going to have seats on the board. They're not going to have any official control." Despite the lack of formal control, Roxborough cautioned that "these type of investments usually do come with some form of subtle coercion." He compared the dynamic to more than a decade of Chinese investment in Hollywood, which he said coincided with a shift in on-screen portrayals: "we started to see a move away from Hollywood portrayals of the Chinese as being the baddies and a more sort of positive image." The reporting also flagged a possible retrenchment in some corners of Saudi spending. Roxborough referenced a Financial Times report — which NPR had not independently confirmed — that the kingdom might be pulling back from investments such as LIV Golf. He argued that oil-price pressures and lower-than-expected returns have constrained the appetite for big-ticket cultural bets. Outlook On the question of success, Roxborough offered a mixed assessment. He said the economic diversification effort "hasn't been that successful" so far, and that international perceptions of Saudi Arabia still tend to center on "human rights abuses and with the problematic treatment of women in particular." But he added: "I think what has been incredibly successful is the internal transformation. People are out on the streets. There are things happening at night. There are movies that you can go to. There are concerts in the desert. There are these huge sporting events." That dual reality — visible domestic cultural change alongside persistent global skepticism and the specter of influence-seeking tied to high-profile media assets — will shape how Washington and Hollywood calibrate their responses as the deals move forward. --- ## Saudi Arabia’s Cybersecurity Startups Guard the Region’s Digital Shift URL: https://startupsmena.com/saudi-arabias-cybersecurity-startups-guard-the-regions-digital-shift-mobge9di Date: 2026-04-23 Category: funding Tags: cybersecurity, Saudi Arabia, venture capital, startups, Vision 2030, MAGNiTT, cloud security, AI, cybercrime **Summary:** Saudi Arabia is emerging as a hub for cybersecurity startups as Vision 2030 drives digital transformation and venture capital flows into AI-driven threat detection, cloud security and compliance tooling. MAGNiTT data and industry reports point to growing seed and early-stage funding to address rising regional cyber threats. Saudi Arabia has emerged as a focal point for cybersecurity investment in the Middle East as the kingdom’s public services, energy systems and financial platforms accelerate their digital transition under Vision 2030. Data from MAGNiTT shows venture capital flowing steadily into regional cybersecurity startups, and the Saudi National Cybersecurity Authority warns that “the Kingdom faces millions of cyber threats each year” as critical infrastructure moves online. Cybersecurity Ventures also projects that “the cost of cybercrime was predicted to surpass $10.5 trillion annually by 2025.” “The cost of cybercrime was predicted to surpass $10.5 trillion annually by 2025,” Cybersecurity Ventures reports, a figure cited in coverage published by Cybercrime Magazine and shared in a Cairo SCENE roundup posted by Taylor Fox. Those figures frame a market reality: rising attack volumes across the MENA region are matched by growing investor interest. Studies from IBM and Kaspersky repeatedly rank the Middle East among the most targeted regions for intrusions, particularly against government agencies, banks and industrial energy networks that are prominent in Saudi Arabia. The Cybercrime Magazine report notes that seed rounds and early-stage funding are increasingly channelled toward startups building AI-powered threat detection, cloud security platforms and compliance tools tailored to local regulatory frameworks. Source outlets: Cybercrime Magazine (Cybersecurity Ventures) and Cairo SCENE; blog post by Taylor Fox (posted at 08:38h). Key data point: $10.5 trillion — projected annual global cost of cybercrime by 2025 (Cybersecurity Ventures). Regional research: IBM and Kaspersky studies identifying the Middle East among the most targeted regions. Local authority: Saudi National Cybersecurity Authority reports “millions of cyber threats each year.” The investment picture is already changing the startup landscape. According to the Cybercrime Magazine summary of MAGNiTT data, new venture funds and government technology programmes tied to Vision 2030 have made Saudi Arabia a hub for cybersecurity founding activity. Entrepreneurs and investors are prioritising solutions that address the specific threat profile of the region: threat detection powered by machine learning, cloud-security stacks for public- and private-sector migration to cloud services, and compliance software that helps firms meet local and sectoral rules. Cybercrime Magazine emphasizes the industry’s momentum across its sections — from VC dealflow to M A reporting — and even through related media like its podcast and WCYB Digital Radio stream. The outlet brands itself succinctly: “Cybercrime Magazine is Page ONE for Cybersecurity.” Coverage such as the Cairo SCENE piece cited by Cybercrime Magazine highlights startups and programmes shaping Saudi Arabia’s ecosystem. Outlook: with recurring threat volumes, high-profile vulnerability in energy and finance, and explicit targets for digital transformation under Vision 2030, the combination of market demand and investor capital is likely to sustain growth in Saudi cybersecurity startups. Expect continued activity in seed and early-stage rounds for AI-driven detection, cloud security and regulatory-compliance tooling, with MAGNiTT and sector analysts tracking whether that funding translates into scalable local vendors capable of defending the kingdom’s critical networks. --- ## Ajinkya Rahane joins Chupps as Investor and Advisor URL: https://startupsmena.com/ajinkya-rahane-joins-chupps-as-investor-and-advisor-mob6lr9b Date: 2026-04-23 Category: tech Tags: **Summary:** The brand sells its products through ... in the UAE. As Chupps continues to grow, it aims to become a leading brand in India’s comfort footwear segment by combining innovation with strong athlete supp Ajinkya Rahane, the current captain of Kolkata Knight Riders and former India Test captain, has joined Chupps as an investor and advisor during the company’s pre-Series B funding round, the footwear brand announced. The size of Rahane’s investment was not disclosed, though the company said existing investors have continued to support the business as it prepares to scale. Founded in 2020 by Yashesh Mukhi, Chupps makes stylish, functional open footwear aimed at modern Indian consumers and is entering a fast-growth phase focused on new products, offline retail and brand development. Direct quote Rahane explained his decision to back the brand: “What drew me to Chupps wasn’t the pitch. It was the product. You can tell when something is built with intention and when it isn’t. This one is.” Context and details Rahane first connected with Chupps as a customer, and that relationship has evolved into a strategic partnership. In his investor-advisor role he will not only provide capital but also work hands-on with the team on product development, with a specific focus on recovery footwear. Company materials say Rahane will help refine comfort-focused designs and contribute to upgrades to Chupps’ ERGO-Charge technology as well as a new recovery-focused product currently in development. Chupps highlights a growing presence in sport-linked marketing and retail as part of its expansion. The brand has gained visibility in the Indian Premier League through partnerships with teams including Gujarat Titans and Mumbai Indians, and Rahane’s involvement is expected to strengthen Chupps’ positioning as a preferred off-field choice for athletes. Founder: Yashesh Mukhi (Cofounder of Chupps Footwear) Founded: 2020 Funding stage: Pre-Series B (investment amount not disclosed) Retail channels: Own website, Amazon, Myntra, offline stores in major Indian cities International presence: United Arab Emirates Cofounder Yashesh Mukhi framed Rahane’s arrival as timely for the company’s next phase. “We’re at a point where the brand has moved beyond early validation and is now scaling with clear intent. This phase is about building depth, across product, distribution and brand. Ajinkya’s involvement comes at the right time for us as we start building for a more evolved consumer need. It’s a partnership that strengthens how we build not just how we grow,” Mukhi said. Outlook Chupps says it has established a base of repeat buyers and is moving into an accelerated growth window that combines product innovation with expanded offline distribution and athlete endorsements. With Rahane advising on recovery- and comfort-oriented product lines and existing investors maintaining support through the pre-Series B round, the brand aims to deepen its product portfolio and broaden market reach as it seeks to become a leading name in India’s comfort and recovery footwear segment. --- ## Real Estate: Dubai Holds Firm Despite Iran-Israel-US War URL: https://startupsmena.com/real-estate-dubai-holds-firm-despite-iran-israel-us-war-dubai-real-estate-iran-war-israel-war-us-ira-moayomaa Date: 2026-04-23 Category: other Tags: Dubai, UAE, real estate, expats, tax, Sakshi Post, regional tensions **Summary:** Despite regional tensions involving Iran, Israel and the US, Dubai remains attractive to expatriates and investors due to zero income tax, lifestyle offerings and global connectivity, with only a small number of temporary relocations reported. The Sakshi Post piece highlights short-term disruptions but concludes Dubai's core fundamentals keep most residents anchored. Dubai remains a top choice for expatriates and investors despite escalating regional tensions involving Iran, Israel and the United States, Sakshi Post reported on Apr 22, 2026, 18:55 IST. The article says recent disruptions — including travel uncertainties and brief school closures — have prompted a small number of families to temporarily relocate, but finds that "most residents [are] choosing stability over uncertainty" and that Dubai’s core fundamentals, including its "enduring advantage of zero income tax," continue to anchor the city as a global magnet for talent and capital. "Dubai’s core strengths remain undiminished—ensuring it stays firmly on the radar as a preferred global destination," the Sakshi Post coverage said, underscoring the city's continued appeal amid short-term jitters. Context and immediate impacts The Sakshi Post piece notes that disruptions have unsettled daily routines for some residents: travel plans were affected and some schools closed briefly. Related coverage on the same platform included a video report titled "Bomb Explosions Near Dubai Airport, Flights Suspended," signalling how security incidents in the wider region have fed uncertainty for a segment of the expatriate population. Despite these incidents, the report says movements have largely been precautionary and reversible. For most expatriates the calculus remains financial and lifestyle-driven: Dubai’s tax structure — highlighted as "zero income tax" — alongside world-class infrastructure and extensive global connectivity outweighs short-term concerns. The article also points to a prevailing "wait-and-watch" approach among those who have temporarily stepped away, with little indication of a permanent exit. Published by: Sakshi Post (Apr 22, 2026, 18:55 IST) Reported impacts: travel uncertainties, brief school closures, some temporary family relocations Key advantages cited: zero income tax, lifestyle benefits, global connectivity, strong economic prospects Related coverage: "Video: Bomb Explosions Near Dubai Airport, Flights Suspended" Broader coverage and observers The Sakshi Post page also carried other regional and national items the same day — including a guest column by M. Purushottam Reddy calling for debate on the viability of Amaravati — reflecting the publisher’s broad news remit. The site footer notes the platform is "Powered by Yodasoft Technologies Pvt Ltd." Outlook According to the report, Dubai’s immediate outlook is one of resilience. Short-term anxiety driven by regional conflicts has prompted tactical shifts among a small percentage of residents, yet the combination of tax advantages, lifestyle offerings and connectivity keeps the emirate attractive for professionals, entrepreneurs and families. Sakshi Post concludes that while regional instability has introduced caution, it has not eroded Dubai’s central appeal: most expatriates continue to prioritise the economic and lifestyle fundamentals that have long defined the city. --- ## Startale Selected for Abu Dhabi's National Strategic Hub71, Accelerating Full-Scale Entry into Middle East Digital Asset Market — BigGo Finance URL: https://startupsmena.com/startale-selected-for-abu-dhabis-national-strategic-hub71-accelerating-full-scale-entry-into-middle--moak03k8 Date: 2026-04-22 Category: tech Tags: **Summary:** Singapore-based blockchain company Startale Group has been selected for the digital asset sector program of "Hub71," a national startup support ecosystem in Abu Dhabi, United Arab Emirates (UAE). The Singapore-based blockchain company Startale Group has been selected for the digital asset sector program of Hub71, the Abu Dhabi government-backed startup support ecosystem, marking a major step in its planned full-scale entry into the Middle East market. Startale was one of 27 companies chosen from more than 2,400 global applicants and will use the Abu Dhabi Global Market (ADGM) as its regional base to expand offerings including the public blockchain Soneium, the L1 blockchain Strium, and the yen-denominated stablecoin JPYSC. "Abu Dhabi is increasing its presence as a key hub in the digital asset sector. This selection holds significant meaning for deepening collaboration with regulators and institutional investors while keeping an eye on both Eastern and Western markets," said Sota Watanabe, CEO of Startale. Context and details Hub71 was established in 2019 and receives backing from Mubadala Investment Company as part of Abu Dhabi's Ghadan 21 economic diversification policy. The initiative functions as a platform connecting startups, investors and government entities, and launched a dedicated ecosystem called Hub71+ Digital Assets last year to strengthen focus on the sector. For this round, Hub71 received over 2,400 applications and selected 27 companies; selected firms receive support for business activities within ADGM, opportunities for collaboration with regulators, access to institutional investors and networking venues. ADGM is a special economic and financial free zone that allows foreign firms to retain 100% ownership and benefits from preferential measures such as corporate tax exemptions. More than 370 startups in fields including Web3 and artificial intelligence have already joined Hub71. Peter Abou-Hashed, Head of Growth & Strategy at Hub71, has said of the program: "We help bring RWAs (Real World Assets) on-chain," underscoring the ecosystem's interest in tokenizing traditional assets for institutional markets. Startale’s selection aligns with partnerships and products developed with major Japanese corporations. The company is jointly developing the public blockchain Soneium through Sony Block Solutions Labs, its joint venture with Sony Group. It is also building the L1 Strium blockchain and the yen-denominated stablecoin JPYSC in collaboration with SBI Group. Earlier this year, Startale raised approximately ¥8 billion (about $50.3 million) from SBI Group to accelerate development. Key partners: Sony Group, SBI Group, Mubadala Investment Company Core products highlighted: Soneium, Strium, JPYSC, Startale App Hub71 selection: 27 companies chosen from over 2,400 applicants Outlook Startale plans to leverage ADGM's regulated environment as a third major operational base alongside Japan and Singapore, with particular emphasis on infrastructure-grade blockchains, JPYSC-related services and RWA solutions for institutional investors. Divya Claudia Nair, a startup executive at Hub71, welcomed the move: "The commitment to digital asset infrastructure aligns closely with Hub71's focus areas." Future developments — including specific partnerships, regulatory engagements and product launches in the Middle East — will be closely watched as Startale seeks to convert its Japan-rooted blockchain technology into a corridor of digital finance and entertainment between Asia and the Middle East. --- ## Business Startup in Dubai: Funding & SME Growth Guide for 2026 URL: https://startupsmena.com/business-startup-in-dubai-funding-sme-growth-guide-for-2026-mo9oq824 Date: 2026-04-22 Category: tech Tags: **Summary:** If you’re exploring startup funding in Dubai, you’ll quickly realise there’s no single route—it’s a layered ecosystem. What matters is understanding where your business fits within it. At the earliest Dubai’s startup ecosystem is increasingly designed for scale: founders can complete company setup in days, open bank accounts with the right support and begin trading almost immediately, while small and medium-sized enterprises account for more than 60% of the UAE’s GDP, according to a guide published by Terri Steffes on April 21, 2026. The city’s funding landscape has shifted—personal capital remains the dominant seed source, but angel networks have become more active and selective, venture capital has deepened across the UAE, and government-linked programmes now offer capital plus access to pilots, regulatory support and partner introductions. “If you’re exploring startup funding in Dubai, you’ll quickly realise there’s no single route—it’s a layered ecosystem,” Terri Steffes writes, underscoring a central message for founders navigating early-stage choices. Funding and investor expectations Steffes details how investor behaviour in Dubai has evolved: angels and VCs are demanding execution evidence — a working product, initial revenue or a clear path to both — rather than simply backing ideas. Fintech, logistics and SaaS continue to dominate deal flow, while newer areas such as climate tech are attracting attention. Traditional bank financing, while still documentation-heavy, is gradually opening to startups that can demonstrate solid financials and predictable revenue. Government-linked funding is singled out as a differentiator. These programmes “often come with not just capital, but access—whether that’s pilot projects, regulatory support, or direct introductions to partners,” Steffes notes, a feature that founders say can accelerate route-to-market and partnership-building in regulated sectors like fintech and healthtech. Structure, discipline and common missteps Mainland companies: favoured for trading directly in the UAE and for working with government entities; Free zones: faster and often more cost-effective for consultants, tech startups and international founders who do not require a UAE-wide physical presence; Offshore setups: typically used for holding companies or international operations rather than active domestic trading. Steffes warns that many founders still underestimate the consequences of choosing the wrong legal structure early on. She highlights financial discipline as critical: “Investors now expect clean books, clear reporting, and realistic projections,” and the introduction of corporate tax introduces additional planning requirements. The article references MP Elites as an example of a consultancy that “approaches this differently,” offering a full advisory lifecycle that begins with a diagnostic and continues through implementation and ongoing support. Outlook for 2026 For founders preparing for the next funding steps, the guide stresses preparation and focus: secure traction before you fundraise, choose the structure that aligns with your growth plans, tighten financial controls and be realistic about operating costs including licensing and visas. Sectors to watch in 2026 include fintech, e-commerce and logistics, healthcare and healthtech, and sustainability; each benefits from Dubai’s connectivity, infrastructure and policy alignment with private-sector growth. As Steffes concludes, Dubai is not just for starting a business—it is increasingly a market engineered for scaling one. --- ## ActionAI raises $10M seed to fix enterprise AI’s trust problem and power reliable automation URL: https://startupsmena.com/actionai-raises-10m-seed-to-fix-enterprise-ais-trust-problem-and-power-reliable-automation-tech-star-mo9k2stz Date: 2026-04-22 Category: saas Tags: AI, enterprise, seed funding, trust, monitoring, automation, explainability, ActionAI, UAE **Summary:** ActionAI raised a $10M seed round backed by UAE investors to deliver monitoring, explainability and human‑in‑the‑loop controls that make enterprise AI automations more reliable and accountable. The platform flags questionable outputs, surfaces reasons for anomalies and routes issues to human reviewers before errors reach production. ActionAI has closed a $10 million seed round to tackle what it calls the enterprise AI “trust problem,” backing its bid to make automated systems dependable enough for mission‑critical operations. The round, announced on April 20, 2026, is backed by investors in the UAE and will fund a platform that monitors AI across the stack, flags questionable outputs, and brings human reviewers into the loop before errors reach production. "AI is handling increasingly complex tasks with highly sensitive or personal data without any sufficient oversight or accountability," said Miriam Haart, CEO of ActionAI. "ActionAI makes AI accountable from day one. Beginning with the initial data inputted, we review, fine‑tune and secure the information which underpins an AI system. From there, our reliability architecture prevents AI vulnerabilities well before they reach production. Which enables AI automations with transparency and trust." Product and positioning Founded and led by Stanford‑trained engineer Miriam Haart — a former computer science lecturer also known to some viewers from the Netflix series My Unorthodox Life — ActionAI is positioning itself where many enterprise projects stall: after pilot phases and before full production. The company argues the challenge is not just model capability but trust. Citing industry research, ActionAI highlights that 66% of employees already use AI at work according to KPMG, yet more than half do so without verifying outputs. McKinsey & Company research is also quoted to underscore that most enterprise AI projects never progress beyond pilots. ActionAI’s platform is designed to make failures visible rather than hidden. It tracks data and performance across each layer of the AI stack and raises alerts when models drift or when incoming data or instructions change system behavior. A flagship feature called "Explainable Exceptions" is intended to surface the reason behind a flagged output and require human review when an automation goes off track, limiting hallucinations and creating a record of how decisions were made. How ActionAI works Monitoring: Continuous post‑deployment tools that detect real‑time drift and shifts in model performance. Explainable Exceptions: A human‑in‑the‑loop framework that flags anomalous outputs and explains why they were flagged. Reliability architecture: Controls to prevent vulnerabilities from reaching production by reviewing and securing initial data inputs. The startup is targeting sectors where a single incorrect output can carry financial or legal consequences — finance, manufacturing, retail, insurance, logistics and legal systems — arguing that greater visibility and accountability will accelerate enterprise adoption of automation. Outlook With $10 million in seed funding and UAE investor backing, ActionAI is betting that trust will be the missing layer that determines which AI vendors scale inside large organizations. By combining monitoring, explainability and a human review layer, the company aims to move more projects from cautious pilots into live operations where automation can reduce costs without exposing firms to unchecked risk. As enterprises press for more reliable AI, ActionAI will be measured on whether its tools meaningfully reduce errors and increase confidence in high‑stakes deployments. --- ## Sony-backed Startale sets up Abu Dhabi operations after major Series A funding round URL: https://startupsmena.com/sony-backed-startale-sets-up-abu-dhabi-operations-after-major-series-a-funding-round-mo9cs95i Date: 2026-04-22 Category: tech Tags: **Summary:** “We are pleased to welcome Startale Group into Hub71’s Cohort 18,” said Divya Claudia Nair, Startup Journey Lead at Hub71. “Their focus on digital asset infrastructure reflects the strength of our spe Startale Group, a blockchain infrastructure firm backed by Sony Innovation Fund and SBI Group, has announced plans to establish operations in Abu Dhabi after completing a $63 million Series A funding round and being selected for Hub71’s Digital Assets cohort. The company will base its regional activities in Abu Dhabi Global Market (ADGM), joining Hub71’s Cohort 18 under the Hub71+ Digital Assets programme, an initiative supported by Mubadala and the Abu Dhabi Department of Economic Development. Direct quote “We are pleased to welcome Startale Group into Hub71’s Cohort 18,” said Divya Claudia Nair, Startup Journey Lead at Hub71. “Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to supporting their expansion.” Context and details Startale’s move to Abu Dhabi follows a $63 million Series A round intended to support development of blockchain and stablecoin infrastructure in regulated markets. The company was selected from more than 2,400 applicants to join Hub71’s ecosystem of investors, institutions and regulators, a competitive process that underscores Abu Dhabi’s growing appeal as a regulated digital asset hub. CEO Sota Watanabe framed the expansion as strategic for scaling in compliant markets: “Hub71 and Abu Dhabi Global Market provide the regulatory clarity and global reach we need to scale responsibly,” he said. “Abu Dhabi is emerging as a major digital asset hub, enabling expansion across the East and West markets.” Startale is developing a portfolio of infrastructure products in collaboration with established partners. These include: Soneium, developed in partnership with Sony Block Solutions Labs under Sony Group Corporation; Strium, and work on the yen-backed stablecoin JPYSC with SBI Group; USDSC; and The Startale App. The company’s investors and strategic supporters extend beyond Sony and SBI: the initiative to host Startale in Abu Dhabi is backed by Mubadala and the Abu Dhabi Department of Economic Development, and local placement in ADGM positions the firm inside a jurisdiction noted for its digital asset regulatory framework. Outlook Startale plans to deploy local teams in Abu Dhabi and to work closely with regulators, investors and partners as it expands across regional and international markets. Selection into Hub71’s Cohort 18 gives the firm access to an ecosystem of institutional contacts designed to accelerate market entry and regulatory engagement. By combining its recent capital injection with partnerships tied to Sony and SBI Group, Startale aims to scale its stablecoin and blockchain infrastructure offerings while leveraging ADGM’s regulatory clarity to pursue cross-border growth between East and West markets. --- ## Mental Health startup HeyyPal raises funding from Abu Dhabi-based VC URL: https://startupsmena.com/mental-health-startup-heyypal-raises-funding-from-abu-dhabi-based-vc-the-times-of-india-mo93wi4l Date: 2026-04-21 Category: healthtech Tags: mental health, funding, HeyyPal, Abu Dhabi, venture capital **Summary:** HeyyPal, an India-based real-time experts-led conversation platform founded by Vishwalok Nath, has secured investment from Abu Dhabi-based investor Umesh Bhatt at a valuation of Rs 20 crore. The exact deal size was not disclosed. HeyyPal, an India-based real-time experts-led conversation platform, has secured investment from Abu Dhabi-based venture capitalist Umesh Bhatt at a valuation of Rs 20 crore, The Times of India reported on April 20, 2026. The size of the deal was not disclosed. HeyyPal connects users with verified psychologists, psychiatrists, therapists and trained listeners through per-minute consultations and a privacy-first model designed to reduce barriers of cost, stigma and accessibility in mental healthcare. “Mental health is one of the most pressing challenges of our time,” said Umesh Bhatt, who is based in Abu Dhabi and serves as Cluster Director of IT at hospitality major Rotana. “HeyyPal’s ability to combine technology with human empathy to deliver instant, accessible support makes it both impactful and scalable. I’m excited to be part of this journey.” Deal details and investor background The investment, reported by the TOI Tech Desk, marks an infusion of external capital for HeyyPal at a valuation of Rs 20 crore. The exact quantum of Bhatt’s investment was not disclosed. Bhatt is described in the report as bringing global technology and enterprise expertise to the table, reflecting his professional role at Rotana and his positioning as an Abu Dhabi-based venture capitalist backing scalable, tech-enabled mental health solutions. Platform, service model and company vision Founded by Vishwalok Nath, HeyyPal operates an on-demand conversation platform that enables immediate access to mental health support. The service pairs users with licensed and trained professionals and listeners for short, real-time sessions billed on a per-minute basis. HeyyPal emphasizes confidentiality and a privacy-first approach as central to its service delivery. Connects users with verified psychologists, psychiatrists, therapists and trained listeners Per-minute consultations aimed at lowering cost barriers Privacy-first design to protect user confidentiality Focus on reducing stigma and improving accessibility to mental healthcare “This investment comes at a time when conversations around mental health are becoming more open, yet access remains limited,” said Vishwalok Nath, Founder, HeyyPal. “Our goal is simple, if someone needs to talk, support should be instantly available. With Umesh’s global perspective, we are well-positioned to scale faster and build a meaningful impact.” Outlook With Bhatt’s backing, HeyyPal aims to accelerate its growth and expand the reach of its on-demand conversation model across India. The investor’s enterprise and technology experience — paired with HeyyPal’s per-minute, privacy-focused approach — signals an attempt to marry scalable tech infrastructure with human-led care. While the exact funding amount was not disclosed, the Rs 20 crore valuation establishes a benchmark for the company as it seeks to scale its product, user acquisition and service delivery in a market where access to mental health support remains uneven. --- ## Best App Development Company Dubai: Focus on Web3 and AI Trends URL: https://startupsmena.com/best-app-development-company-dubai-focus-on-web3-and-ai-trends-monu-mo8y06eo Date: 2026-04-21 Category: tech Tags: DeviceBee, mobile apps, app development, Web3, AI, blockchain, IoT, UAE, Dubai, UAE PASS, Flutter, React Native **Summary:** DeviceBee, a Dubai-based mobile app specialist, is highlighted by Monu as a capable partner for UAE organisations needing native and cross-platform apps with AI, blockchain and IoT integrations and UAE-specific services like UAE PASS. Dubai-based mobile app specialist DeviceBee is emerging as a prominent partner for organisations seeking mobile and cross-platform applications across the United Arab Emirates, according to a Monu report published on April 21, 2026. The piece positions DeviceBee within a UAE market increasingly shaped by AI, blockchain and Internet of Things requirements, and highlights the broader expectations for app performance, security and localised experiences across Dubai and Abu Dhabi. "DeviceBee has emerged as a beacon of innovation and reliability." Context and capabilities The Monu article frames the UAE app market as sophisticated and demanding: users expect instant load times, secure payment options and content localised in both Arabic and English. It notes that in 2026 technical requirements have become more rigorous with "the rise of AI, blockchain, and the Internet of Things (IoT)," and that vendors must be proficient in native iOS and Android development as well as cross-platform frameworks such as Flutter and React Native. Monu underlines that the best suppliers adopt a "discovery-first" approach, investing time to understand target audiences and market trends before development begins. It also says what separates standard agencies from leaders is the ability to deliver "Full-Cycle" services — not just code, but ongoing product strategy, design and post-launch support. Product Strategy: aligning app features with business goals. UI/UX Design: creating intuitive interfaces tailored to local users. Agile Development: iterative cycles to maintain flexibility and quality. Quality Assurance: rigorous testing to ensure a bug-free experience. Post-Launch Support: continuous updates for security and relevance. The article specifically cites integrations and regulatory considerations unique to the UAE market, noting the importance of seamless connections with local payment gateways and government APIs such as UAE PASS. It highlights that businesses targeting the full UAE market often look beyond Dubai to find teams in Abu Dhabi with local insights valuable for sectors like government and energy. Outlook Monu projects that demand for technically precise, secure and locally compliant apps will continue to grow. For firms evaluating development partners, the report recommends prioritising agencies that combine user-centric design with strong technical chops in AI and blockchain, as well as experience integrating UAE-specific services like UAE PASS. Within that environment, DeviceBee is presented as a capable vendor able to serve clients from startups to global enterprises, offering the suite of services Monu identifies as characteristic of the best mobile app development service in Dubai. --- ## UAE discusses US financial backstop as Iran war threatens deeper economic crisis URL: https://startupsmena.com/uae-discusses-us-financial-backstop-as-iran-war-threatens-deeper-economic-crisis-middle-east-monitor-mo8v6jv0 Date: 2026-04-21 Category: funding Tags: UAE, currency-swap, US backstop, central bank, Bahrain, Iran conflict **Summary:** The UAE discussed a potential US dollar swap line with Washington as a financial backstop amid concerns the war with Iran could destabilise its economy, while also securing a roughly $5 billion regional swap with Bahrain to shore up liquidity. Lead The United Arab Emirates has held talks in Washington about a potential US financial backstop should the war with Iran deepen and destabilise its economy, Middle East Monitor reported on 20 April 2026 citing The Wall Street Journal. UAE Central Bank Governor Khaled Mohamed Balama met US Treasury Secretary Scott Bessent and Federal Reserve officials last week and raised the possibility of a currency-swap line to secure rapid access to US dollars in an emergency. Direct quote Emirati officials described the proposed arrangement as a financial “lifeline” and US sources told the report that “The Federal Open Market Committee generally reserves swap lines for severe funding-market pressures that risk spilling back into the US economy.” Context and details The discussions reflect concern in Abu Dhabi that a prolonged conflict with Iran could erode investor confidence, deplete foreign reserves and damage the UAE’s status as a global financial hub. Middle East Monitor’s summary of the Wall Street Journal report says Iranian air strikes have damaged oil and gas infrastructure inside the UAE and that Iran’s blockade of the Strait of Hormuz since late February has disrupted the country’s oil shipments to buyers, cutting off a major source of revenue. Khaled Mohamed Balama met US Treasury Secretary Scott Bessent and Federal Reserve officials in Washington to raise the swap-line idea. US officials reportedly believe such an arrangement “may not be approved,” given the Federal Open Market Committee’s practice of reserving swap lines for stresses that could spill back into the US financial system. The UAE has already secured regional support, establishing a swap line worth around $5 billion with Bahrain earlier in April to reinforce financial stability. US sources cited in the report said UAE officials view President Donald Trump’s decision to join Israel in the conflict with Iran as having “entangled” the UAE in a destructive war. Saudi Finance Minister Mohammed Al-Jadaan warned that recovery in the region is likely to be slow even if hostilities end soon, saying disruption to tanker scheduling and shipping would probably continue “until the end of June” and that anyone expecting a quick recovery would need to “recalculate”. Outlook With US officials signalling that an American swap line may be unlikely, the UAE appears to be pursuing a mix of regional and international options to shore up liquidity and reassure markets. The $5 billion swap with Bahrain demonstrates immediate regional-level contingency planning, while the Washington meetings indicate Abu Dhabi is seeking broader, precautionary measures should the conflict widen or persist. How quickly oil flows and investor confidence recover will depend on security developments in the Strait of Hormuz and whether hostilities abate; in the near term, finance ministers and central bankers in the Gulf are preparing for a drawn-out economic impact rather than a rapid rebound. --- ## Top Foreign Investors Backing India’s New-Age Tech IPOs URL: https://startupsmena.com/top-foreign-investors-backing-indias-new-age-tech-ipos-mo8sunhh Date: 2026-04-21 Category: tech Tags: **Summary:** Sovereign-backed investors such as GIC, Government Pension Fund Global, and Abu Dhabi Investment Authority have also participated, along with firms like Nomura and Amansa Capital. Let’s take a look at Foreign investors have re-emerged as major backers of India’s new-age tech initial public offerings, providing roughly 40% of the capital raised by 18 startup IPOs since the start of 2025, according to industry estimates. Foreign portfolio investors (FPIs) pumped ₹26,508 crore into IPO anchor books in 2025—a rise of more than 40% year-on-year—and participation is increasingly concentrated among sovereign funds and global asset managers such as Goldman Sachs, Franklin Templeton, GIC, Government Pension Fund Global and Abu Dhabi Investment Authority (ADIA). “Despite being large net sellers in Indian cash equities in recent times, FPIs participated with an average share of over 55% in primary market IPO anchor tranches in 2025 alone. This bifurcation — selling secondary, buying primary — signals that global investors are using IPO anchor rounds as a cleaner, valuation-disciplined entry point,” said Pratik Loonker, MD and head of equity capital markets at Axis Capital. Why foreign investors are focusing on anchor rounds Bankers and asset managers point to three structural drivers behind the trend: demonstrable profitability among listed new-age companies, India’s rising share of global IPO fundraising, and a deep domestic liquidity base that supports valuation stability. “Together, these factors create a risk-return profile that now competes credibly with US and Southeast Asian tech listings,” Loonker added. Gaja Alternative Asset Management MD and CEO Gopal Jain noted that the shift reflects selective conviction rather than a broad-based India trade. SEBI reforms around disclosure, anchor allocations and lock-ins, plus India’s fiscal and monetary stability and an S&P credit upgrade, have reduced perceived country risk and expanded exit pathways for long-term global limited partners. Who’s writing the biggest cheques Franklin Templeton: ₹662.81 crore deployed across new-age tech anchor rounds, with investments in Ather Energy, PhysicsWallah, Pine Labs, Meesho, Groww and Lenskart. The firm also raised over ₹205 crore in the first close of an India-focused credit AIF in April 2025 and manages $1.68 trillion globally (data to March 2026). Goldman Sachs: ₹632.19 crore across nine anchor rounds covering fintech, edtech, D2C, SaaS, analytics and coworking—backing firms including BlueStone, Fractal, Groww, Lenskart, Meesho, PhysicsWallah, SEDEMAC, Urban Company and WeWork India. Goldman has reportedly deployed more than $8.5 billion in India across private equity, infrastructure and credit strategies and exited its stake in Eternal via block deals netting over ₹900 crore in 2025. Other active global names: Amundi, Fidelity Investments, BlackRock, Nomura and Amansa Capital. Sovereign-backed participants named in industry reporting: GIC, Government Pension Fund Global and Abu Dhabi Investment Authority (ADIA). The IPO pipeline remains robust into 2026: five startups—Aye Finance, Fractal Analytics, Amagi, Shadowfax and SEDEMAC—listed in the first quarter of 2026, and unicorns such as Zepto and PhonePe are at various stages of the process. Market observers say foreign interest is likely to remain strong so long as listed new-age companies continue to show profitability or clear paths to profitability and domestic liquidity supports sustainable price discovery. --- ## Bridgeways: UAE leads the world in AI investment momentum URL: https://startupsmena.com/bridgeways-uae-leads-the-world-in-ai-investment-momentum-mo8sq32l Date: 2026-04-21 Category: fintech Tags: wealthtech, AI, investment, UAE, Bridgeways **Summary:** Bridgeways, a wealth management technology firm, found the UAE ranks second on its AI optimism index and leads globally on momentum to replace manual investment research with AI tools, signalling rapid AI adoption among UAE investors. Bridgeways, a wealth management technology firm, reports that the United Arab Emirates ranks second globally on its optimism index for artificial intelligence, while investors in the UAE lead the world on the firm’s momentum metric measuring intent to replace traditional research with AI tools. The findings come from a global study titled "The State of AI in Wealth 2026" and suggest a pronounced shift in how UAE investors gather investment information and manage risk. "Many investors in the UAE no longer treat these instruments as add-ons. Rather, it is an essential part of how they evaluate markets and manage risks," Bridgeways said in its summary of the study. Study details and regional results The study, "The State of AI in Wealth 2026," sampled 2,100 participants across 19 countries, covering adults aged 18 to 75 with active bank accounts. Bridgeways built a global index of AI optimism based on four axes: adoption, trust, leadership and momentum. The Middle East topped regional rankings, followed by Asia and the Pacific, North America and Europe; the UAE and Saudi Arabia were singled out for their contribution to the Middle East’s position. Globally, 78.3% of survey respondents said they already use AI to obtain investment information. Some 65.1% of participants reported they plan to replace at least part of manual search processes with AI tools within a year. Bridgeways emphasized that in all markets surveyed the UAE showed the "strongest confirmed shift" toward using artificial intelligence instead of manual investment analysis methods. The firm's momentum index is explicitly framed as a measure of "the extent of investors’ determination to replace traditional research methods with artificial intelligence tools during the coming year," underlining the behavioural component of the findings rather than purely technological availability. Beyond headline rankings, the study’s methodology — four axes combining adoption, trust, leadership and momentum — signals an attempt to capture both sentiment and likely near-term behaviour. The high regional ranking for the Middle East, and the prominent roles of the UAE and Saudi Arabia, reflect market-level openness to AI-driven wealth tools as reflected in the survey responses. Outlook: Bridgeways’ data implies that wealth managers, fintech providers and platforms operating in the UAE should expect growing client demand for AI-enabled research, risk analytics and portfolio construction tools. With more than three-quarters of respondents already using AI for investment information and two-thirds intending to substitute manual searches within a year, the study points to an acceleration of AI integration into everyday investment workflows. Firms that can demonstrate trustworthy, transparent AI capabilities aligned to the four index axes — adoption, trust, leadership and momentum — may be better positioned to capture inflows from investors repositioning toward algorithmic and data-driven decision-making. --- ## Startale Expands Into Abu Dhabi Through Hub71 as UAE Deepens State-Backed Crypto Push URL: https://startupsmena.com/startale-expands-into-abu-dhabi-through-hub71-as-uae-deepens-state-backed-crypto-push-mo8jygra Date: 2026-04-21 Category: fintech Tags: Startale, Hub71, ADGM, Abu Dhabi, Mubadala, blockchain, stablecoin, Series A, Sony, SBI Group **Summary:** Startale Group was selected for Hub71’s Digital Assets cohort and is establishing a base in ADGM, expanding its blockchain infrastructure, consumer app and stablecoin projects as it builds on a $63 million Series A. The move gives Startale closer access to UAE regulators, capital providers and strategic partners. Startale Group is expanding into Abu Dhabi after being selected for Hub71’s Digital Assets cohort, taking up a base inside Abu Dhabi Global Market (ADGM). The blockchain infrastructure firm was one of 27 companies chosen from more than 2,400 applicants, a competitive selection that coincides with Startale’s $63 million Series A and strengthens its footprint across blockchain infrastructure, consumer apps and stablecoin initiatives in regulated markets. "Hub71 and ADGM offer the regulatory clarity and international reach the company needs to scale more responsibly across both Eastern and Western markets," said Sota Watanabe, chief executive of Startale. Program placement and strategic context Hub71 is backed by Mubadala and the Abu Dhabi Department of Economic Development, positioning the accelerator as part of an institutional framework that goes beyond typical startup networking. The placement inside ADGM gives Startale closer access to regulators, capital providers and strategic partners embedded in the UAE’s financial infrastructure — an advantage the company cited as central to its expansion plans. Selected: 27 companies from more than 2,400 applicants. Backers: Hub71 is supported by Mubadala and the Abu Dhabi Department of Economic Development. Funding: Startale closed a $63 million Series A prior to the Abu Dhabi move. Under the Hub71+ Digital Assets program, Startale said it will expand across three core parts of its ecosystem. First, blockchain infrastructure — including Soneium and Strium. Second, the Startale App, described as a gateway into the Soneium ecosystem. Third, stablecoins, specifically USDSC and JPYSC. Soneium is co-developed through Sony Block Solutions Labs, a joint venture with Sony Group Corporation, while JPYSC is being advanced with SBI Group alongside development around USDSC. The company plans to deploy personnel in Abu Dhabi and engage directly with regulators, investors and partners as it grows across the Middle East and other global markets. That operational commitment reflects a broader trend among crypto infrastructure firms seeking not just market access but regulatory alignment with jurisdictions that are actively structuring digital-asset ecosystems. Outlook Startale’s Hub71 placement signals a continued melding of product development and regulation in the digital-assets space, where regulatory clarity is increasingly treated as part of the product story rather than solely a constraint. By situating teams within ADGM and plugging into an accelerator backed by state-linked institutions, Startale is positioning its Soneium, Strium and stablecoin projects to advance under clearer oversight and with enhanced access to capital and strategic partners. For Abu Dhabi, the addition of Startale further fills out a state-aligned approach to crypto that has progressed with notable speed and coordination; for Startale, the move bolsters its ability to scale across Eastern and Western markets while deepening relationships with Sony Group Corporation, SBI Group and other strategic collaborators. --- ## Leaders of Dubai-based unicorns hail city as global innovation hub shaping future technology and driving the digital economy URL: https://startupsmena.com/leaders-of-dubai-based-unicorns-hail-city-as-global-innovation-hub-shaping-future-technology-and-dri-mo8io1aq Date: 2026-04-21 Category: tech Tags: **Summary:** Leaders of Dubai-based unicorn companies have reaffirmed the emirate’s status as a global hub for digital innovation and technology-led growth. The senior executives highlighted Dubai’s forward-lookin Senior executives from Dubai-based unicorns have reiterated the emirate’s role as a global hub for digital innovation and technology-led growth, telling Global News Network Liberia that Dubai’s regulatory environment, infrastructure and international talent pool are central to their expansion plans. In comments published on Apr 20, 2026, leaders from Kitopi, Property Finder and XPANCEO praised the city’s agility as a launchpad for companies seeking rapid scaling and regional reach. “Dubai’s digital ecosystem has been a major enabler of our growth. The city offers a strong combination of forward-looking regulation, world-class infrastructure, access to exceptional talent, and a business environment that makes it easier to build, test, and scale quickly. Its connectivity to regional and global markets has also been critical as we’ve expanded our ambitions beyond the UAE,” said Mohamad Ballout, CEO and Co‑founder of Kitopi. Executives credited several concrete elements of Dubai’s ecosystem for enabling high-growth digital businesses: Forward-looking regulation that allows companies to experiment and scale; Advanced physical and digital infrastructure to support product development and distribution; Access to international talent and investor networks that facilitate cross-border expansion; Active alignment between public and private sectors, including support from the Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers. Fernando Fanton, Chief Product and Technology Officer at Property Finder, framed Dubai as more than a base of operations: “Dubai is no longer just a place to set up a business; it is the place to build the future of your industry. The emirate’s sophisticated digital infrastructure and transparent framework allow us to test, iterate, and scale tools efficiently, while strong relationships with investors and regulators enable us to navigate complexity and turn insights into actionable solutions.” The comments underline a recurring theme among the city’s technology leaders: Dubai’s coordinated ecosystem—from regulators and investors to trade chambers and private firms—reduces friction for companies focused on rapid innovation. Observers pointed to the Dubai Chamber of Digital Economy as a visible example of institutional support that helps bridge private-sector tech initiatives with public policy and regional market access. Roman Axelrod, Founder and Managing Partner at XPANCEO, positioned Dubai as an evolving centre of ambition and scientific endeavour: “Dubai is evolving into a new global magnet for innovation, echoing the early spirit of Silicon Valley; yet it does so while staying true to the principles on which it was built: transforming impossible challenges into strategic opportunities through global partnership. The real question for founders today is no longer whether Dubai can sustain ambitious scientific research and development; it’s whether your own ambition is bold enough to keep pace with Dubai’s vision.” Looking ahead, the executives’ statements point to continued investment and talent flows into Dubai’s tech sector, driven by a policy and infrastructure environment that emphasizes experimentation, market connectivity and public-private collaboration. As these unicorns pursue regional and international growth, their endorsements add momentum to Dubai’s positioning as a strategic hub for companies aiming to shape future technologies and expand the digital economy. --- ## Führungskräfte von in Dubai ansässigen Unicorns loben die Stadt als globalen Innovationshub, der die Technologie der Zukunft prägt und die digitale Wirtschaft vorantreibt URL: https://startupsmena.com/fhrungskrfte-von-in-dubai-ansssigen-unicorns-loben-die-stadt-als-globalen-innovationshub-der-die-tec-mo8hopaz Date: 2026-04-21 Category: tech Tags: Dubai, unicorns, innovation, digital economy, regulation, infrastructure, talent **Summary:** Executives of Dubai-based unicorns praised the emirate as a global innovation hub, crediting its future-oriented regulatory framework, advanced infrastructure and ability to attract international talent for supporting high-growth digital businesses. The April 20, 2026 Business Wire release highlights Dubai's role in scaling technology ventures and shaping the global digital economy. DUBAI — Leaders of Dubai-based unicorn companies have publicly praised the emirate as a global innovation hub that is shaping the technology of the future and driving the digital economy, according to a Business Wire release syndicated on bakersfield.com on Apr. 20, 2026. The statement credited Dubai’s regulatory framework, advanced infrastructure and its capacity to attract international talent as central factors enhancing the city’s appeal for high-growth digital businesses. "Die Führungskräfte hoben Dubais zukunftsorientiertes regulatorisches Umfeld, die fortschrittliche Infrastruktur und die Fähigkeit, internationale Talente anzuziehen, als Schlüsselfaktoren hervor, die die Attraktivität für wachstumsstarke digitale Unternehmen stärken," the Business Wire release said. Context and detail The Business Wire item, datelined Dubai, United Arab Emirates, summarizes comments from executives of multiple unicorns based in the city. While the release does not list individual names or companies, it frames a clear narrative: Dubai’s policy environment and physical and digital infrastructure are viewed by senior leaders as instrumental to scaling technology ventures and supporting a burgeoning digital economy. Regulatory environment: Executives described Dubai’s rules and licensing framework as "zukunftsorientiert" (future-oriented), a phrase used in the release to emphasize policy settings that accommodate emerging technologies and new business models. Infrastructure: The release highlights “fortschrittliche Infrastruktur,” pointing to transport, telecommunications and digital platforms that executives say enable rapid product development and market access. Talent attraction: The ability to draw international talent was singled out as a competitive advantage, helping companies to staff engineering, product and leadership teams needed for global expansion. The Business Wire statement positions these three elements as mutually reinforcing: a forward-looking regulatory stance makes it easier for global talent and capital to commit to Dubai, while infrastructure provides the operational backbone for startups to move from scale-up to market leader. The release frames the city as influencing not just local outcomes, but broader technological trajectories. Outlook According to the April 20 release, leaders of Dubai-based unicorns expect the city to continue shaping "the technology of the future" and to play a growing role in the global digital economy. The producers of the release signaled confidence that Dubai will remain attractive to high-growth digital companies seeking regulatory clarity, robust infrastructure and international talent pools. The Business Wire item was carried by bakersfield.com on Apr. 20, 2026. It offers a snapshot of executive sentiment in Dubai’s startup ecosystem, underscoring why the city is cited repeatedly by company leaders as a strategic location for scaling digital ventures. --- ## DIFC Aims to Become World’s First AI-Native Financial Centre, Creating 25,000 Jobs in Dubai URL: https://startupsmena.com/difc-aims-to-become-worlds-first-ai-native-financial-centre-creating-25000-jobs-in-dubai-mo8gmp79 Date: 2026-04-21 Category: fintech Tags: DIFC, AI-native, artificial intelligence, Dubai, regulation, jobs **Summary:** Dubai International Financial Centre (DIFC) plans to become the world’s first AI-native financial centre by embedding AI across legal frameworks, regulation, talent development and infrastructure, projecting $3.5 billion in economic benefit and creation of around 25,000 jobs. The initiative aims to move from pilots to full integration, build an AI campus, and position DIFC as a global hub for AI-in-finance. Dubai International Financial Centre (DIFC) has announced an ambitious plan to become the world’s first “AI-native” financial centre, embedding artificial intelligence across its legal frameworks, regulatory systems, talent development and physical infrastructure. The Native AI programme is projected to generate $3.5 billion (Dh12.9 billion) in economic benefits and create around 25,000 jobs in Dubai’s finance sector as AI is scaled across financial services and adjacent industries. “Today we are announcing that DIFC will become the world’s first AI-Native Financial Centre. This is not about experimenting with AI at the edges; it is about embedding AI across our legal frameworks, regulatory systems, talent development and physical infrastructure. By doing so, DIFC will set a global benchmark for AI governance and responsible innovation, while delivering tangible impact, including $3.5 billion (Dh12.9 billion) in economic value and the creation of 25,000 new jobs,” said Arif Amiri, Chief Executive Officer of DIFC Authority. From pilots to core systems The move represents a strategic shift from pilot projects to full integration. DIFC said the initiative builds on a five-year AI strategy launched in 2023, under which it introduced data governance policies and incorporated artificial intelligence into its Data Protection Law as Regulation 10. The centre has already deployed AI tools to support client compliance and relationship management and now intends to make AI foundational to its regulatory architecture and enterprise operations. Economic impact: $3.5 billion (Dh12.9 billion) projected; ~25,000 jobs expected to be created. Regulatory groundwork: AI included in DIFC’s Data Protection Law as Regulation 10; governance frameworks to cover human activity and AI agents, including robotics. Physical transformation: Plans to integrate robotics, autonomous mobility and digital twins; by 2030 a substantial percentage of buildings will be equipped with intelligent systems supported by thousands of sensors. Ecosystem and talent development DIFC plans to launch a full-stack AI campus combining regulation, training, compute and physical AI capabilities while expanding accelerators, venture platforms and international partnerships. The centre will roll out executive education, regulatory training and technical certification programmes designed to support large-scale human‑AI collaboration and to supply trained talent both locally and to markets in the Global South. As part of the commercial strategy, DIFC said it will provide financial firms within the centre access to advanced AI tools and intends to export AI governance software and trained talent abroad. The authority is positioning DIFC as a destination for AI-in‑finance companies, with explicit targets to increase startup density, attract more venture capital funding and foster unicorn creation relative to other global financial hubs. Outlook The DIFC initiative aligns with Dubai’s broader economic and technology agenda and relies on what the centre described as regulatory agility, robust digital infrastructure and global connectivity to implement AI at scale. By embedding AI into regulation, operations and the built environment, DIFC aims to set a global benchmark for responsible AI governance while delivering measurable economic and employment outcomes over the coming years. --- ## How Dubai is supporting small businesses URL: https://startupsmena.com/how-dubai-is-supporting-small-businesses-emirates-247-mo8grwzy Date: 2026-04-21 Category: tech Tags: **Summary:** From rent relief and free retail space to bank fee waivers and discounts, here's how Dubai is helping SMEs recover and grow Dubai has rolled out a range of targeted measures to help small and medium-sized enterprises (SMEs) recover and scale, drawing on the UAE Central Bank’s Financial Institution Resilience Package and the emirate’s Dh1 billion relief package. Initiatives include free retail space from Ma’an by Majid Al Futtaim in partnership with Dubai SME, bank fee waivers and discounts from institutions such as Emirates NBD, and consumer incentives including Uber’s trip discounts to cultural districts in Dubai and Abu Dhabi. "Brands must prove they are a locally established business with a valid UAE trade license, and that they have been in continuous operation for a period of at least 12 months," the Ma’an eligibility criteria state, outlining how local entrepreneurs can access in-mall exposure. Measures on offer Free retail exposure: Ma’an by Majid Al Futtaim, working with Dubai SME (part of the Dubai Department of Economy and Tourism), is offering direct space at high-traffic locations such as Mall of the Emirates and THAT Concept Store. The initiative also provides visibility through Carrefour, VOX Cinemas and the SHARE loyalty programme, and is open to locally established brands meeting the 12-month operation and trade licence requirements. Bank fee relief: Emirates NBD (ENBD) has announced multiple waivers, including cash withdrawal fees at ATMs across the UAE and GCC, loan deferment fee waivers, waivers on international courier charges for business card deliveries, and cheque return fee relief tied to unforeseen cash-flow interruptions. ENBD is also offering a 30% reduction on charges for letters of credit and guarantees and a 40% discount on cash management services. Ajman Bank, Abu Dhabi Islamic Bank and First Abu Dhabi Bank (FAB) have announced similar relief measures for their customers. Consumer incentives: In the first week of April, Uber UAE offered 20% off Uber trips via promo codes to encourage visits to cultural districts and community hubs, including Alserkal Avenue and Al Seef in Dubai and Marsa Al Bateen and Miza in Abu Dhabi. Business-to-business support: Dubai-based companies and retailers are providing in-kind marketing and retail space. ThinkSmart Hub is offering complementary promotional video reels to select UAE businesses. Kidzapp has launched The Smiles Project to give select local child-focused businesses exclusive exposure on its app. Retailer Brands For Less is providing SMEs with rent-free space to showcase products alongside boosted visibility on social platforms. Collectively, these measures combine public-sector relief with private-sector support to lower operating costs, increase customer footfall and improve visibility for small businesses. Ma’an’s in-mall placements and Carrefour/VOX cross-promotion aim to connect local brands with mainstream retail audiences, while the banking fee concessions address immediate cash-flow pressures for SMEs. The mix of temporary fee relief, discounted consumer travel and free marketing or retail space is designed to help SMEs transition from recovery to longer-term growth. With multiple banks and private partners participating, Dubai’s approach seeks to sustain momentum for small businesses as they rebuild revenues and reconnect with customers. --- ## RWA news: Tether backs UAE tokenization firm KAIO in $8M funding round URL: https://startupsmena.com/rwa-news-tether-backs-uae-tokenization-firm-kaio-in-8m-funding-round-mo85ub9l Date: 2026-04-21 Category: tech Tags: **Summary:** The company plans to expand into credit, structured products and ETFs, launch an onchain fund with Mubadala Capital, and channel USDT stablecoin liquidity into regulated investment products. Abu Dhabi Abu Dhabi-regulated tokenization firm KAIO said Monday it raised $8 million in a strategic funding round led by Tether and a group of crypto and institutional investors, bringing the company's total capital raised to $19 million. KAIO, which builds infrastructure to let asset managers tokenize and distribute institutional funds on blockchain rails, said the round will finance expansion into credit, structured products and exchange-traded funds, the launch of an onchain fund with Mubadala Capital, and efforts to channel USDT stablecoin liquidity into regulated investment products. "KAIO’s unique position unlocks new pathways for capital formation and investment by bringing institutional-grade assets onchain and making them more broadly accessible, helping expand participation in global financial markets," Tether CEO Paolo Ardoino said in a statement. Deal details and investors KAIO named Tether as a backer in the strategic round and said new investors include Systemic Ventures. Existing backers Further Ventures and Laser Digital participated again, and Brevan Howard Digital was also listed among early supporters. The company, headquartered in Abu Dhabi, said the funding will support product development and regulatory integrations intended to broaden investor access to institutional funds via tokenization. Round size: $8 million; total funding to date: $19 million New investor: Systemic Ventures; returning investors: Further Ventures, Laser Digital; earlier backer: Brevan Howard Digital Targeted product expansion: credit, structured investments, ETFs Planned partnership: onchain fund with Mubadala Capital (reported $385 billion in assets under management) Product scope, metrics and compliance KAIO said it packages tokens of institutional products from firms such as BlackRock, Brevan Howard and Hamilton Lane and distributes them through blockchain-based systems. The company emphasized a low minimum investment threshold—targeting eligible users with entry points starting at $100—to lower barriers compared with typical institutional fund minimums. Operational metrics supplied by KAIO include approximately $100 million in assets tokenized to date and more than $500 million processed in transactions. The firm also highlighted compliance features built into its platform, noting support for regulated distribution frameworks in Abu Dhabi, the Cayman Islands and Singapore. Outlook KAIO framed Tether's participation as a bridge between stablecoin liquidity and regulated investment vehicles. USDT, the most widely used stablecoin, has a reported supply of about $185 billion and is commonly used to move capital across borders—particularly in emerging markets. KAIO said it aims to channel that liquidity into regulated products, a move that could funnel stablecoin capital into tokenized funds distributed under established regulatory regimes. The funding and planned product expansions position KAIO to pursue broader institutional partnerships and to develop new tokenized instruments, including credit and structured offerings and ETFs, while the announced Mubadala Capital onchain fund signals interest from major regional asset managers in onchain distribution models. --- ## Egypt deepens energy partnership with Huawei to enhance grid efficiency URL: https://startupsmena.com/egypt-deepens-energy-partnership-with-huawei-to-enhance-grid-efficiency-dailynewsegypt-mo7zsxog Date: 2026-04-21 Category: tech Tags: **Summary:** Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, has held talks with executives from Huawei to expand co-operation in renewable energy, energy storage technologies, and smart grid Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, met with senior executives from Huawei to expand cooperation on renewable energy, energy storage technologies and smart grid solutions, Daily News Egypt reported. The meeting, attended by Huawei Egypt CEO Benjamin Hou and Tony Bo, President of Digital Power, focused on advancing digital transformation and enhancing the resilience and operational efficiency of Egypt’s national electricity grid, particularly during periods of peak summer demand. "Huawei is a 'trusted partner'," Esmat said, underlining continued collaboration in smart grids, energy efficiency and digital infrastructure as part of Egypt’s grid-modernisation drive. Meeting details and technical priorities According to the report, discussions explored practical measures to strengthen grid flexibility amid rising demand and the growing integration of renewable generation. A central theme was the transition from conventional grid systems to smart grids, which Egyptian officials say will improve power quality, reduce technical losses and support long-term sustainability of electricity supply. Huawei presented a portfolio of advanced technologies intended to support that transition. Among them, the company highlighted its Intelligent Distribution Solutions (IDS), described as tools to mitigate the impact of distributed solar generation and to facilitate the integration of large-scale energy storage while maintaining grid stability. Esmmat and Huawei representatives reportedly emphasised the need for expanded deployment of grid stabilisation systems, particularly energy storage solutions, to meet targets set out in Egypt’s national energy strategy. The strategy aims to increase the share of renewable and clean energy to 45% of the overall energy mix by 2028 — a target that officials say will require both grid-connected and off-grid storage installations and new digital control systems. Context: policy, demand and investment The talks took place against the backdrop of seasonal peak demand pressures on Egypt’s transmission and distribution networks. Government officials have prioritised upgrades to improve performance and reduce technical losses, while private and public investment in renewables and storage is being positioned as a key enabler of grid reliability. Key participants: Mahmoud Esmat (Minister of Electricity and Renewable Energy), Benjamin Hou (Huawei Egypt CEO), Tony Bo (President, Digital Power). Technologies discussed: Intelligent Distribution Solutions (IDS), large-scale energy storage, smart-grid platforms and digital transformation tools. Policy target: 45% renewable and clean energy in Egypt’s energy mix by 2028. Huawei’s push into digital power and distribution solutions aligns with Egypt’s stated objectives to modernise transmission and distribution systems, reduce technical losses and better accommodate intermittent renewable sources such as distributed solar generation. Outlook Officials signalled that the engagement with Huawei is part of a broader effort to leverage advanced technologies to enhance service quality and operational efficiency. Moving forward, Egypt is expected to pursue expanded deployment of energy storage and grid stabilisation systems, alongside digital control platforms, to meet the 45% renewable target and to bolster grid resilience during summer peaks. Further collaboration with private technology vendors is likely as the country scales smart-grid pilots into wider network upgrades and investment opportunities in both grid-connected and off-grid storage markets attract interest. --- ## Speedinvest Launches Flagship MEA Fund : TechMoran URL: https://startupsmena.com/speedinvest-launches-flagship-mea-fund-techmoran-mo7zpwvt Date: 2026-04-21 Category: tech Tags: **Summary:** The fund builds on more than 15 years of investing across Europe and beyond, with Speedinvest backing companies such as Bitpanda, GoStudent, Tide, and ARX Robotics. In the MEA region, the firm has alr European venture capital firm Speedinvest has launched its first flagship fund dedicated to the Middle East and Africa (MEA), backed by Mubadala Investment Company, Qatar Investment Authority (QIA) and the European Investment Bank (EIB Global). The fund, whose size was not disclosed, will deploy capital across fintech, embedded finance and sectors including health, climate, artificial intelligence and consumer platforms, as well as core digital infrastructure, formalising Speedinvest’s long-running activity in the region and extending its reach across the Middle East, North Africa, Pakistan, Turkey (MENAPT) and Sub‑Saharan Africa. "We are thrilled to welcome QIA, Mubadala, and EIB as investors supporting our Middle East and Africa strategy," said Oliver Holle, CEO and Managing Partner of Speedinvest. "We’re committed for the long haul, deploying patient, sector-focused capital to back visionary entrepreneurs." Context and regional footprint The new MEA vehicle builds on more than 15 years of investing across Europe and beyond and on Speedinvest’s existing regional portfolio. The firm highlighted several companies it has backed globally — including Bitpanda, GoStudent, Tide and ARX Robotics — and named multiple MEA bets that underpin its local knowledge. Moove — a Nigerian-founded mobility fintech providing revenue-based vehicle financing for ride-hailing and delivery drivers globally; FairMoney — a Nigerian digital banking and lending platform; Khazna — an Egypt-based financial super app focused on the underbanked; Mophones — a Kenyan company enabling smartphone financing to expand digital access; Flow48 — an SME financing platform active in the UAE and South Africa offering revenue-based credit to small businesses. Speedinvest said it has been steadily expanding its presence in MEA over the past decade, combining local teams with its broader European network to support founders from seed through growth stages. The firm also noted it recently strengthened its regional footprint by joining QIA’s Fund of Funds programme, a move intended to bring global venture capital expertise into Qatar and the Gulf Cooperation Council (GCC). Mubadala framed its participation as an endorsement of Speedinvest’s approach. "As part of the MENA Venture Capital Fund, we are pleased to partner with Speedinvest to support ambitious founders building enduring companies that contribute to sustainable economic development," said Ali Eid AlMheiri, Executive Director at Mubadala. EIB Global emphasised the development impact: "Technology has the power to turn good ideas into real impact," said Karl Nehammer, Vice President at EIB Global. "By partnering with Speedinvest, we are enabling African innovators to scale, access new markets, and build sustainable businesses." Outlook With more than €1.2 billion in assets under management, Speedinvest positions the MEA fund as a bridge between its European hubs and emerging startup ecosystems across MENAPT and Sub‑Saharan Africa. The firm intends to target early and growth-stage companies that can scale cross-border, channel capital into innovation and financial inclusion, and deepen partnerships with institutional backers such as QIA, Mubadala and EIB Global to support longer-term growth trajectories for regional founders. --- ## Riyadh Air: The Future of Aviation Meets Africa’s Moment URL: https://startupsmena.com/riyadh-air-the-future-of-aviation-meets-africas-moment-the-voice-of-africa-mo7zmzav Date: 2026-04-21 Category: tech Tags: **Summary:** Riyadh Air, Saudi aviation future, ... global, Riyadh Air fleet, Africa diaspora engagement, investment opportunities Africa, Saudi economy diversification, Africa rising economy, global tourism partn Riyadh Air, launched in 2025 and backed by Saudi Arabia’s Public Investment Fund (PIF), is positioning itself as a digitally native, sustainability-driven global carrier and a strategic pillar of Vision 2030. Under CEO-level leadership including Tony Douglas, the new airline has announced an ambitious fleet mix (Airbus A321neo, A350-1000 and Boeing 787 Dreamliners), a target of more than 100 destinations across six continents by 2030, and an expectation to contribute $20 billion to non-oil GDP while creating over 200,000 jobs as Riyadh seeks to become a major aviation hub. "In 2025, Saudi Arabia did not just launch another airline—it introduced a new global aviation standard," the Voice of Africa reported, framing Riyadh Air as a convergence of technology, sustainability and economic diplomacy. Context and the Africa Strategy Beyond hardware and hub ambitions, Riyadh Air is being cast as a bridge to Africa’s rapidly changing economies and youthful demographics. The Voice of Africa highlights a partnership model that combines Riyadh Air’s route expansion with media, tourism and youth engagement led by The Voice of Africa (TVOA), whose CEO Kadmiel Van Der Puije has spearheaded multiple initiatives linking African audiences and diasporas to new travel and investment corridors. Ties between Riyadh Air and African demand are being nurtured through TVOA platforms such as Experience Africa tours (notably a Ghana tour in November 2025) and the TVOA Trade, Investment Tourism Forum. TVOA’s public programming included a Diaspora Connect Room event at Johns Hopkins SAIS (April 2025), a workshop at Yale University, and the Ambassador of Africa Masterclass at Duke University featuring Kadmiel and COO Kemuel Van Der Puije. Sports and cultural diplomacy have appeared in TVOA activities—Sharaf Mahama presented at the Diaspora Connect Room, and TVOA programming has featured figures like Rio Ferdinand to export African talent to global stages. Social impact organizations affiliated with this broader ecosystem are cited as part of the human infrastructure underpinning travel and commercial ties. The Father’s Haven Foundation (noted for work with 54 orphans at its Kenya branch), the Countess Foundation (with an ambition framed as creating "1 million futures"), and Naberm Montessori School in Ada, Ghana, are named as initiatives aligning youth development and education with broader engagement strategies. Kadmiel Van Der Puije’s recognition with the Misk 20 Under 30 Award from HRH Crown Prince Mohammed bin Salman’s Foundation is presented as emblematic of cross-border youth leadership and institutional ties. Outlook Riyadh Air’s stated technology-first, sustainability-led model plus PIF backing creates an opening for expanded Saudi-Africa links in tourism, trade logistics and talent mobility. The Voice of Africa argues that combining airline capacity with media-driven demand generation—through TVOA events, tours, and youth programs—can drive sustained passenger flows between Riyadh and African capitals such as Accra and Nairobi. Riyadh Air’s targets—100+ destinations by 2030 and major non-oil GDP impact—set clear milestones; the practical test will be how quickly new routes, bilateral agreements and investment partnerships translate into scheduled services, cargo lanes and measurable growth for African entrepreneurs and the region’s travel industry. --- ## Riyadh Air Unveils 3 New Nonstop Global Routes: See All Flights Now URL: https://startupsmena.com/riyadh-air-unveils-3-new-nonstop-global-routes-see-all-flights-now-mo7zi1m4 Date: 2026-04-21 Category: tech Tags: **Summary:** Riyadh Air has unveiled three more routes as it continues to flesh out its long-awaited full network launch, with Jeddah, Madrid, and Manchester now joining the airline’s growing list of named destina Riyadh Air has added three new nonstop routes — Jeddah (JED), Madrid (MAD) and Manchester (MAN) — bringing the startup carrier’s officially disclosed network to six destinations after earlier announcements for London Heathrow (LHR), Dubai International (DXB) and Cairo International (CAI). The move signals a tangible shift from branding toward network build-out, but the airline’s expansion remains constrained by aircraft availability: only London is currently operating in a highly limited form, with tickets restricted to employees and family. "In the coming weeks," Riyadh Air said in February when discussing its first deliveries of Boeing 787-9 Dreamliners, and Reuters has reported the carrier's ordered 787-9s were expected "within months." Routes, distances and current status London Heathrow — 3,070 mi / 4,940 km — Currently operating but limited to employees and family; public tickets not yet available. Dubai International — 543 mi / 873 km — Planned. Cairo International — 1,001 mi / 1,612 km — Planned. Manchester — 3,183 mi / 5,123 km — Planned; announced as an all‑new nonstop link to Riyadh. Madrid Barajas — 3,066 mi / 4,935 km — Planned; announced as an all‑new nonstop link to Riyadh. Jeddah — 530 mi / 853 km — Planned; a vital domestic trunk route for the carrier. The carrier has ordered 39 Boeing 787-9s, with 33 options. Riyadh Air said it expected to accept delivery of its first aircraft "in the coming weeks." Until the new Dreamliners arrive, Riyadh Air is operating its LHR link with a single leased technical spare 787-9 from Oman Air. Simple Flying’s reporting lists the initial factory-fresh Dreamliners and their statuses: HZ-RXAA is undergoing final fittings in Charleston; HZ-RXAB has been carrying out test flights at Everett; HZ-RXAC was in Everett after interior work in San Antonio; and HZ-RXAD took its maiden flight last week. Market context and competitive landscape Madrid and Manchester represent strategic "white-space" opportunities: Simple Flying notes both cities were among the few in Riyadh Air’s previously disclosed 15-route launch plan that lacked existing nonstop service to Riyadh, potentially giving the carrier unique positioning. However, those cities are not devoid of Saudi connections — Saudia already operates from Jeddah to Manchester daily and to Madrid four times weekly. By contrast, Jeddah is a hyper‑competitive domestic market. OAG ranked Riyadh–Jeddah the world’s fifth-busiest domestic route in 2025 with 9.8 million seats, up 13% year-over-year and 22% above 2019 levels. Cirium Diio schedule data shows the market averages 142 daily flights roundtrip, with Saudia operating roughly 50 daily flights using a mix of 777, 787, A330 and narrowbodies, and low-cost carriers Flynas and Flyadeal each operating about 46 daily flights. Outlook Riyadh Air has not published start dates for the new Jeddah, Madrid and Manchester services. Industry expectation, reflected in Simple Flying reporting, is that the first factory Dreamliners will be deployed to expand London services and then enable broader launch operations to the planned network. For now, the route map is public and growing faster than the carrier’s available fleet — the next weeks and months will determine how quickly Riyadh Air can turn announced routes into scheduled, ticketed services for the general public. --- ## Startale expands to Abu Dhabi through Hub71 URL: https://startupsmena.com/startale-expands-to-abu-dhabi-through-hub71-mo7uv6ku Date: 2026-04-20 Category: fintech Tags: digital assets, blockchain, stablecoin, Hub71, ADGM, Series A, Sony, SBI, Startale, Abu Dhabi **Summary:** Startale Group has been selected for Hub71’s Digital Assets cohort and will expand into Abu Dhabi (ADGM) after a $63 million Series A, focusing on blockchain infrastructure and stablecoin initiatives. The move positions Startale to scale projects like Soneium, Strium, USDSC and JPYSC in regulated markets. Startale Group has been selected for Hub71’s Digital Assets cohort and will expand into Abu Dhabi by establishing operations within the Abu Dhabi Global Market (ADGM), the company said. Startale was chosen as one of 27 companies from more than 2,400 global applicants for Hub71’s cohort 18, a program backed by Mubadala and the Abu Dhabi Department of Economic Development that places startups inside a network of institutional partners, capital providers and regulators shaping Abu Dhabi’s digital assets ecosystem. “Hub71 and Abu Dhabi Global Market provide the regulatory clarity and global reach we need to scale Startale’s ecosystem responsibly,” said Sota Watanabe, CEO of Startale Group. “Abu Dhabi is becoming a key hub for digital assets, and joining this cohort positions us to expand across Eastern and Western markets, working closely with regulators and institutional partners.” Context and program details The Abu Dhabi expansion follows Startale’s $63 million Series A funding round, which the company said will support the development of its blockchain and stablecoin infrastructure in regulated markets. Startale is developing blockchain infrastructure projects including Soneium — built through Sony Block Solutions Labs, a joint venture with Sony Group Corporation — and Strium. The company is also advancing stablecoin initiatives, notably JPYSC in collaboration with SBI Group, alongside its USDSC stablecoin and the Startale App. Under the Hub71+ Digital Assets program, Startale said it will focus on three core areas as it scales in Abu Dhabi: Blockchain infrastructure: expansion of Soneium and Strium; The Startale App: broadening product reach and user services; Stablecoin initiatives: accelerating USDSC and JPYSC in regulated markets. Hub71 said participation for Startale places the company “within a network of institutional partners, capital providers, and regulators involved in shaping Abu Dhabi’s digital asset ecosystem.” Startale has indicated it plans to deploy personnel in Abu Dhabi and work closely with regulators, investors and partners through Hub71 as it expands across the Middle East and global markets. Outlook “We are pleased to welcome Startale Group into Hub71’s Cohort 18. Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to supporting their expansion,” said Divya Claudia Nair, Startup Journey Lead at Hub71. The move aligns Startale with ADGM’s dedicated regulatory framework for digital assets and places the startup at the center of Abu Dhabi’s efforts to attract international blockchain firms. With its recent Series A funding and partnerships with Sony Group Corporation and SBI Group, Startale’s presence in Abu Dhabi will test the company’s ability to scale regulated infrastructure and stablecoin projects across Eastern and Western markets while engaging local regulators and institutional investors. --- ## Startale Expands to Abu Dhabi, Aligning With UAE’s State-Backed Crypto Push URL: https://startupsmena.com/startale-expands-to-abu-dhabi-aligning-with-uaes-state-backed-crypto-push-currency-news-financial-an-mo7us3kr Date: 2026-04-20 Category: tech Tags: **Summary:** Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to suppo Startale Group, the global blockchain infrastructure company behind Astar Network, is expanding into Abu Dhabi after being selected for Hub71’s Digital Assets cohort. The company — one of 27 firms chosen from more than 2,400 global applicants — will establish operations within Abu Dhabi Global Market (ADGM) under a programme backed by Mubadala and the Abu Dhabi Department of Economic Development. Startale’s move follows a $63 million Series A round and is intended to accelerate development of its blockchain and stablecoin infrastructure in regulated markets. “Hub71 and Abu Dhabi Global Market provide the regulatory clarity and global reach we need to scale Startale’s ecosystem responsibly,” said Sota Watanabe, CEO of Startale Group. “Abu Dhabi is becoming a key hub for digital assets, and joining this cohort positions us to expand across Eastern and Western markets, working closely with regulators and institutional partners.” Context and programme details Entry into Hub71 places Startale within a network of institutional partners, capital providers and regulators shaping Abu Dhabi’s digital asset strategy. The Hub71+ Digital Assets programme, which is supported by state-linked entities including Mubadala, aims to attract specialist blockchain infrastructure firms by offering access to ADGM’s regulatory framework for digital assets. Startale said it will expand across three areas of its ecosystem through the programme: Blockchain infrastructure — advancing Soneium (developed through Sony Block Solutions Labs, a joint venture with Sony Group Corporation) and Strium. Consumer and developer products — expanding the Startale App as an entry point to the Soneium ecosystem. Stablecoin initiatives — growing USDSC and JPYSC, the latter developed in collaboration with SBI Group. Startale also highlighted its existing footprint in Japan through Astar Network, described in company materials as Japan’s largest public blockchain. The firm said the ADGM base will give it closer access to institutional capital and provide regulatory clarity as it scales operations into the Middle East and beyond. Statements from Hub71 Divya Claudia Nair, Startup Journey Lead at Hub71, welcomed the company’s selection: “Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to supporting their expansion.” Outlook Startale plans to deploy personnel in Abu Dhabi and to work closely with regulators, investors and partners through Hub71’s platform as it expands across the Middle East and global markets. The company’s articulated priorities — bringing Soneium and Strium online, expanding the Startale App, and progressing USDSC and JPYSC — suggest a focus on building regulated, interoperable infrastructure and stablecoin rails that can serve institutional participants. Contact details released with the announcement list Startale’s marketing address as marketing@startale.com. --- ## Startale Group Anchors in Abu Dhabi Following Selection for Hub71+ Digital Assets Program URL: https://startupsmena.com/startale-group-anchors-in-abu-dhabi-following-selection-for-hub71-digital-assets-program-mo7ulef2 Date: 2026-04-20 Category: tech Tags: **Summary:** Startale Group joins Hub71’s Digital Assets cohort in Abu Dhabi to scale its blockchain and stablecoin infrastructure within the ADGM. Startale Group, a blockchain infrastructure firm, has announced it will anchor operations in Abu Dhabi’s Abu Dhabi Global Market (ADGM) after being selected for Hub71’s 18th Hub71+ Digital Assets cohort. Selected from a pool of more than 2,400 applicants and one of 27 companies joining the cohort, Startale’s move follows a $63 million Series A round and positions the company to scale blockchain infrastructure and stablecoin projects across the Middle East in 2026. The Hub71 program — backed by Mubadala Investment Co. and the Abu Dhabi Department of Economic Development — is reported to have more than $2 billion of capital committed to Web3 and blockchain startups. Direct quote “Hub71 and Abu Dhabi Global Market provide the regulatory clarity and global reach we need to scale Startale’s ecosystem responsibly,” said Sota Watanabe, CEO of Startale Group. “Abu Dhabi is becoming a key hub for digital assets, and joining this cohort positions us to expand across Eastern and Western markets.” Context and details The Hub71+ Digital Assets program will formally anchor Startale within ADGM, a jurisdiction the company cited for providing “regulatory clarity” and institutional connections. Hub71’s specialist ecosystem links startups to regulators, institutional partners and capital providers, a network Startale aims to leverage as it deploys staff in Abu Dhabi. Funding and focus: Startale closed a $63 million Series A round that the firm says will accelerate blockchain and stablecoin infrastructure in regulated markets. Product slate: Startale is advancing several projects, including Soneium (developed with Sony Block Solutions Labs), Strium, and stablecoin initiatives JPYSC (in collaboration with SBI Group) and USDSC, as well as its consumer-facing Startale App. Program scale: The cohort intake is the 18th for Hub71, with Startale among 27 selected companies chosen from over 2,400 applicants for the specialist digital assets track. Support ecosystem: Hub71’s program is supported by Mubadala Investment Co. and the Abu Dhabi Department of Economic Development and ties participants to ADGM’s regulatory framework. Hub71’s startup journey lead, Divya Claudia Nair, commented on Startale’s admission: “We are pleased to welcome Startale Group into Hub71’s Cohort 18. Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the caliber of founders choosing Abu Dhabi as a launchpad for global growth.” Outlook Startale plans to deploy personnel in Abu Dhabi and work with regulators, investors and partners as it expands across the Middle East and beyond. The move comes amid broader regulatory activity in ADGM — including recent steps to add stablecoins like USDT to lists of accepted fiat-referenced tokens — underscoring the market infrastructure Startale aims to build on. With Hub71’s capital commitments and ADGM’s regulatory framework, Startale’s entry into Abu Dhabi is positioned to support the company’s roadmap for blockchain infrastructure, application development and stablecoin innovation in 2026. --- ## Dubai targets 27,000 Emirati SMEs by 2033 with property-sector push URL: https://startupsmena.com/dubai-targets-27000-emirati-smes-by-2033-with-property-sector-push-khaleej-times-mo7uox7p Date: 2026-04-20 Category: tech Tags: **Summary:** Initiative would also strengthen compliance standards and support the development of national capabilities in line with Dubai’s long-term property-sector roadmap Dubai has launched a partnership between Dubai SME and the Dubai Land Department aimed at expanding Emirati participation in the emirate’s property sector and increasing the number of nationally supported small and medium-sized enterprises to 27,000 by 2033, a core target under the Dubai Economic Agenda D33. The move is intended to scale national entrepreneurship from roughly 19,000 supported Emirati enterprises in 2024 and to integrate local firms into owners’ associations and core real estate operations. “Inspired by our city’s visionary leadership, this partnership with Dubai Land Department reflects our commitment to embedding Emirati entrepreneurs more deeply within Dubai’s high-growth sectors, particularly real estate, which remains a cornerstone of the emirate’s economic diversification programme,” said Ahmad Al Room Almheiri, acting CEO of Dubai SME. The agreement opens market access for Dubai SME members to opportunities across the property value chain, including community management, consultancy, contracting, facilities services and property operations, while strengthening structured engagement with developers. Officials framed the collaboration as a shift from limiting SME support to incubation and early-stage funding toward embedding SMEs within high-impact sectors. Key components of the partnership Market access and structured matchmaking linking SMEs with developers. Specialised training programmes and awareness workshops to raise professional standards. Formal recognition for developers who actively support SME participation. Regulatory alignment through the Real Estate Regulatory Agency to strengthen compliance and readiness. From the regulatory side, the Real Estate Regulatory Agency — the regulatory arm of Dubai Land Department — stressed enabling SMEs to operate within clear frameworks that support long-term sector participation. Eng. Abdullah Ahmed Al Shehhi, CEO of the Real Estate Regulatory Agency at Dubai Land Department, said: “This agreement underscores Dubai Land Department’s commitment to strengthening integration across government entities and expanding strategic partnerships that support the sustainable growth of Dubai’s real estate sector. We consider small and medium enterprises to be key contributors to the sector’s value chain, and we are keen to empower them to operate within a clear, enabling regulatory environment while enhancing their readiness to participate in a wide range of real estate activities.” He added that the initiative “would also strengthen compliance standards and support the development of national capabilities in line with Dubai’s long-term property-sector roadmap.” Al Shehhi also noted: “We are also committed to providing regulatory and advisory frameworks that enhance compliance and support the development of national talent, in line with the objectives of the Dubai Real Estate Strategy 2033, ultimately strengthening the market’s competitiveness and transparency.” The agreement arrives as Dubai’s property market continues to show strong activity: in 2025 the sector recorded more than 270,000 transactions worth over Dh917 billion, a historic high. Momentum carried into 2026, with the first quarter alone generating approximately Dh252 billion across more than 60,000 transactions, while total investments reached about Dh173 billion. SMEs already account for more than 95 per cent of registered companies in Dubai, underscoring their role in employment, innovation and supply-chain development. By tying SME development directly to the Dubai Real Estate Strategy 2033 and the D33 agenda, policymakers aim to position Emirati entrepreneurs as central contributors to a more diversified, transparent and competitive property market, converting policy objectives into tangible commercial opportunities across the sector. --- ## UAE Launches New Programme to Turn 1,000 Families into Entrepreneurs Over 5 Years URL: https://startupsmena.com/uae-launches-new-programme-to-turn-1000-families-into-entrepreneurs-over-5-years-mo7gbuio Date: 2026-04-20 Category: tech Tags: **Summary:** UAE launches new programme to turn 1,000 families into entrepreneurs in five years, boosting small businesses, innovation and long-term economic growth. The UAE has launched a state-backed programme to convert 1,000 Emirati families into entrepreneurs over the next five years, officials announced on April 20, 2026. Rolled out under the national campaign “The Emirates: The Startup Capital of the World,” the initiative is a joint effort by the Ministry of Economy and Tourism, the Ministry of Community Empowerment, the New Economy Academy and the National CSR Fund (Majra). The scheme will target roughly 200 families per year across four cohorts and focuses on training, mentoring and market access rather than direct cash support. “We don’t want low-income families to just depend on financial assistance,” said Noor Abu Al-Houl, Assistant Undersecretary for Social Welfare and Empowerment at the Ministry, to Gulf News. “We want them to be economically independent. We go hand in hand with them until they reach the market.” Programme design and delivery Target: 1,000 Emirati families over five years, delivered in four cohorts of about 200 families annually. Partners: Ministry of Economy and Tourism; Ministry of Community Empowerment; New Economy Academy; National CSR Fund (Majra). Training delivery: New Economy Academy will run compact six-day cohorts — two days in-person and four days online. Participant model: Each family nominates one member to take part, with the expectation that knowledge will cascade through the household. Participant categories: “startup” (idea stage), “skill-up” (existing but unstable income) and “scale-up” (ready to expand). Support model: Free training, structured guidance, mentoring and access to a network of government and private-sector partners; no direct cash grants. Selection criteria: Open to Emirati nationals aged 18 and above; emphasis placed on willingness to participate rather than existing business success. Measurement: Success will be tracked through pre- and post-assessments and ongoing cohort feedback; the programme will be adjusted iteratively. Sector guidance: Open across sectors but steered towards national priorities such as agriculture, agritech, logistics and food processing. Dr Laila Faridoon, CEO of the New Economy Academy, said the training focuses on practical tools to help families compete in the UAE market and beyond. “The main objective is to train and empower 1,000 Emirati families to operate within the UAE market—and hopefully expand globally,” she told Gulf News. The curriculum covers ideation, business models, marketing and branding, mixing theory with hands-on exercises. Officials emphasised a capacity-building approach. “It’s about building capacity first. Then we move to a startup kit—giving them a proper framework—and finally quality assurance, so they can actually reach the market,” Noor Abu Al-Houl said. The programme includes an iterative feedback loop: “We are taking an iterative approach,” she added. “We adjust the programme as we go, based on what works and what doesn’t.” While the immediate aim is to reach 1,000 families, officials signalled potential expansion if the early cohorts deliver results. “Getting the first 1,000 is already a big step,” Noor said. “But once success is delivered, I’m sure there will be appetite to scale.” (Source: Gulf News, Dhanusha Gokulan, April 20, 2026.) --- ## Cybersecurity Services Dubai: Choose the Right Partner URL: https://startupsmena.com/cybersecurity-services-dubai-choose-the-right-partner-mo7cs3oo Date: 2026-04-20 Category: tech Tags: **Summary:** Find the right cybersecurity services Dubai offers. Understand risks, compliance, and partner selection for enterprise security. Dubai enterprises choosing cybersecurity services must prioritise systems-level design, compliance and operational continuity, according to a new Appinventiv briefing by Sudeep Srivastava, Director & Co‑Founder, published April 20, 2026. The report warns that growing reliance on cloud platforms, interconnected hospital records, and payment processing has expanded attack surfaces across the UAE, and notes that "around 40% of social media users in the UAE have experienced privacy breaches" — a statistic the paper cites to underline pervasive exposure. "Partner selection drives real security outcomes; weak architecture and poor integration create gaps that tools alone cannot fix," Sudeep Srivastava writes, summarising the central recommendation for UAE firms shopping for cybersecurity services in Dubai and across the Emirates. Context and key considerations for enterprise buyers Appinventiv frames partner selection as a system-level challenge rather than a tools procurement exercise. It highlights regulatory requirements from the UAE Personal Data Protection Law (PDPL) and financial free zones such as ADGM and DIFC, stressing that "UAE regulations like PDPL and ADGM require system-level controls, not policies, with audit-ready logging and access tracking." The report argues that compliance is demonstrable only through implemented controls: PDPL‑aligned data access controls, audit trails for ADGM and DIFC entities, and log retention reflecting regulatory timelines. Architecture-first approach: map identity flows (Azure AD, on‑prem AD, third‑party access), network segmentation, data flow across APIs and storage, and Zero Trust trust boundaries. End-to-end capability: a single partner should design, deploy, monitor and respond to avoid coordination gaps during incidents, with direct escalation paths and no reliance on third‑party responders. Industry-specific expertise: sector-focused controls for BFSI (transaction monitoring, SWIFT controls), healthcare (patient-data access, device uptime) and energy (OT/SCADA protection). Advanced detection: SIEM and XDR integration, UEBA for anomalous user behaviour, lateral movement detection and threat intelligence feeds. Operational metrics: measurable KPIs such as Mean Time to Detect (MTTD), Mean Time to Respond (MTTR) and incident trends to track security performance. The paper cautions that many UAE organisations respond to threats by adding discrete tools, creating stacks that do not interoperate; the resulting silos raise alert volumes without producing decisive action. Appinventiv recommends mature managed security operations with 24/7 monitoring, SLA‑based response timelines, and regional presence for contextual incident handling. Outlook As UAE enterprises balance hybrid cloud and legacy systems, the Appinventiv analysis calls for strategic partnerships that combine architecture, compliance depth and sustained SOC operations. With phishing and ransomware still prevalent and misconfigurations driving many leaks, the report positions system-level integration and measurable outcomes as the differentiators between vendors that merely sell tools and partners that can run security across complex enterprise environments. --- ## Dubai Strengthens Position as Hub for Unicorn Companies, Digital Innovation, Executives Say URL: https://startupsmena.com/dubai-strengthens-position-as-hub-for-unicorn-companies-digital-innovation-executives-say-entreprene-mo7cwd3k Date: 2026-04-20 Category: tech Tags: **Summary:** Dubai has become a key launchpad for fast-growing companies, offering an agile environment that supports innovation and expansion into regional and global markets. Dubai is consolidating its reputation as a launchpad for high-growth technology companies and unicorns, senior executives based in the emirate told Entrepreneur Middle East. Leaders cited a combination of forward-looking regulation, advanced infrastructure, access to international talent and strategic connectivity to regional and global markets as central to scaling operations beyond the UAE. “Dubai’s digital ecosystem has been a major enabler of our growth. The city offers a strong combination of forward-looking regulation, world-class infrastructure, access to exceptional talent, and a business environment that makes it easier to build, test, and scale quickly,” said Mohamad Ballout, CEO and Co-founder of Kitopi. “Its connectivity to regional and global markets has also been critical as we’ve expanded our ambitions beyond the UAE.” Policy, partnerships and tech priorities Executives point to a regulatory and institutional environment that explicitly supports digital and deep‑tech development. Fernando Fanton, Chief Product and Technology Officer at Property Finder, highlighted initiatives such as the Dubai Economic Agenda (D33) and the Dubai Digital Strategy as shaping an ecosystem that helps firms innovate and scale. “Milestones such as the 100% paperless government, the growth of AI and Web3 in real estate, and forward-looking programs under the Dubai Digital Strategy demonstrate how the city not only simplifies business but empowers companies, investors, and regulators alike to make intelligence-led decisions, maximize impact, and expand globally,” Fanton said. “For tech leaders and innovators seeking to scale, Dubai offers the structure, momentum, and insights to turn ambition into tangible growth.” Dubai Economic Agenda (D33) Dubai Digital Strategy, including a 100% paperless government initiative Dubai Chamber of Digital Economy under Dubai Chambers facilitating private–public cooperation Collaboration opportunities with institutions such as the Mohammed Bin Rashid Space Centre and the University of Dubai Roman Axelrod, Founder and Managing Partner at XPANCEO, underscored fiscal and infrastructural incentives as part of the appeal. “Dubai’s tax incentives, infrastructure, and government support have contributed to its attractiveness, adding that the emirate’s focus on deep tech, science, and AI has been particularly important for complex businesses,” he said. Axelrod added that engagement with Dubai Chambers and participation in international tech conferences combined with access to global talent enables faster scaling than in many other markets. Executives also suggested that Dubai’s stability amid regional events and its long-term investments in AI research and deep‑tech infrastructure help sustain momentum. “While regional events may unsettle more volatile markets, Dubai remains steady. Its ambition, scale, and strategic investments in the ‘long game,’ including pioneering global AI research, building deep tech infrastructure, and institutionalising innovation, ensure that its growth remains sustainable,” Axelrod said. Looking ahead, company leaders say Dubai’s mix of regulation, public‑private cooperation and institutional partnerships will continue to make it an attractive base for startups aiming to scale across the Middle East and beyond, turning local innovation into regional and global expansion. --- ## Abu Dhabi startup revives doctor house calls for the digital age URL: https://startupsmena.com/abu-dhabi-startup-revives-doctor-house-calls-for-the-digital-age-aletihad-news-center-mo7avw7g Date: 2026-04-20 Category: tech Tags: **Summary:** An Abu Dhabi-born startup founded by two Emirati brothers is trying to make primary healthcare more accessible through a mix of home visits, virtual ... An Abu Dhabi-born startup founded by Emirati brothers Prof Ashraf Alzaabi and Omar Alzaabi is reviving the tradition of doctor house calls for the digital age. Launched under the name Housecall, the company combines home visits, virtual consultations and clinic-based services to expand access to primary care, aligning its roll-out with the UAE’s designation of 2026 as the Year of Family. The founders say the model is designed to ensure “patients have the right level of care at the right time,” blending personalised family medicine with modern technology. "Primary care works best when it is easy for families to access. In many ways, what we are building is a modern version of what family medicine was always meant to be," Prof Ashraf, Co‑founder and CEO of Housecall, told Aletihad. How the model operates Housecall starts many interactions with telehealth and then moves to in-person assessments when clinically necessary, a workflow the founders say preserves clinical quality while offering convenience. "There are situations where a doctor needs to examine a patient in person. Our model allows us to start virtually and transition to home visits when needed," Prof Ashraf said, noting that Abu Dhabi’s regulatory framework requires face-to-face assessment in certain cases, particularly for chronic disease management. Services: Home visits, virtual consultations, and clinic-based care. Founders: Prof Ashraf Alzaabi (CEO) and Omar Alzaabi (CTO), both Emirati. Team: Includes Prof Ashraf’s daughter Fatima, who contributes policy expertise. Ecosystem support: Engagement with the Department of Health’s Health Tech Hub in collaboration with Hub71, and integration with Abu Dhabi’s digital health information exchanges. Omar, Co‑founder and CTO, described Abu Dhabi’s regulatory and digital health environment as an enabler rather than a constraint. "In healthcare, trust matters," he told Aletihad. "Strong, well-designed regulation creates the foundation to build responsibly and scale with confidence." He said programmes such as the Department of Health's Health Tech Hub and Hub71 helped Housecall navigate regulatory pathways and connect with stakeholders early in its development. The family nature of the business has shaped operational and cultural decisions. Prof Ashraf said his clinical background focuses the company on quality and trust, while Omar concentrates on building systems and controls so care can be "repeatable and scalable in the real world." The team also includes Fatima Alzaabi, whose policy experience informs how Housecall thinks about the interaction between health systems and communities. Omar acknowledged the dynamics of working with family: "Trust is built in, so decisions can move faster," he said, while also noting that disagreements can carry extra weight and that a shared mission has been crucial. Outlook While built and tested in the UAE, Housecall’s founders are explicit about regional ambitions. "The need we are addressing – accessible, high-quality primary care delivered through a hybrid model – is global," Prof Ashraf said. "While our roots are firmly in the UAE, our ambition is definitely broader." Positioned within Abu Dhabi’s Hub71 ecosystem, the startup says it has gained access to investors, mentors and a founder network that has helped refine its strategy as it prepares for broader expansion. --- ## World Bank Reclassifies Pakistan in UAE Region, What It Means for Trade, Startups and Gulf Expansion URL: https://startupsmena.com/world-bank-reclassifies-pakistan-in-uae-region-what-it-means-for-trade-startups-and-gulf-expansion-s-mo7aq4dw Date: 2026-04-20 Category: tech Tags: **Summary:** Annual recurring revenue of $21M, processing 4M monthly transactions. 18 Fintech · Logistics · KSA + UAE · Case · Gulf Capital MedIQ Closed $6M Series A with Rasmal Ventures (Qatar) and Joa Capital (S The World Bank quietly reclassified Pakistan from South Asia into the Middle East and North Africa (MENA) regional grouping in its DataBank metadata glossary, effective fiscal year 2026. The change—entered without a press release—coincides with a widening economic pivot toward the Gulf: remittances are projected at $42 billion for FY2026, IT and telecom exports have reached $2.975 billion between July and February of FY2026, and Pakistan’s VC-backed companies now have a combined enterprise value of $4 billion. For founders, exporters and policymakers, the shift alters institutional optics that influence lending portfolios, development finance windows and investment mandates. "We are not looking for aid flows anymore. Going forward it is really trade and investment, which is going to bring sustainability and be win-win for our longstanding bilateral partners in GCC and for Pakistan," Finance Minister Muhammad Aurangzeb said, underscoring Islamabad’s strategic pivot toward Gulf trade and investment. Context and data The World Bank’s reclassification places Pakistan alongside Afghanistan in the MENA grouping and reflects trends that were already apparent in macro data. Remittance inflows are now central to Pakistan’s external account: Finance Minister Aurangzeb confirmed remittances reached $38 billion in FY2025 with projections of $42 billion for FY2026, and in January 2026 Saudi Arabia and the UAE contributed $739.6 million and $694.2 million respectively to a monthly remittance total of $3.5 billion. IT and telecom exports: $2.975 billion for the first eight months of FY2025-26, a 19.7% year-on-year increase. Record monthly IT exports: $437 million in December 2025; subsequent decline to $374 million in January and $365 million in February 2026. Startup and VC landscape: Pakistani VC-backed companies’ combined enterprise value approximates $4 billion, a 3.6x expansion since 2020. Regional funding benchmark: MENA startup funding reached $3.5 billion as of September 2025. "The reclassification does not move a mountain. But it does open a door that was previously closed, and Pakistan's startup ecosystem needs to understand exactly what is on the other side of it," the source report noted, framing the administrative change as institutional validation of an existing economic shift. Outlook: trade policy, FTAs and market access The classification increases the political and institutional momentum behind deeper Gulf integration. Negotiations toward a Pakistan–GCC Free Trade Agreement, initialised in September 2023 and described by Prime Minister Shehbaz Sharif during his November 2025 visit to Bahrain as in “final stages,” stand to gain from the reframed institutional geography. For IT and digital services, a finalised FTA could mean tariff reductions, services liberalisation that formalises current freelance and IT trade, and mutual recognition frameworks easing labour mobility for Pakistani engineers and specialists across GCC capitals. Meanwhile the UAE has advanced its own bilateral Comprehensive Economic Partnership Agreements with dozens of countries; analysts in the report urged Islamabad to pursue a bilateral CEPA with the UAE as a parallel track. Whether through a GCC-wide FTA or bilateral CEPAs, the reclassification may lower frictions for trade and investment—but realising those gains will depend on the pace of negotiations and complementary policy reforms. --- ## Zayed International Airport Launches First-Ever Shopping Pass for Non-Travellers URL: https://startupsmena.com/zayed-international-airport-launches-first-ever-shopping-pass-for-non-travellers-construction-busine-mo73axel Date: 2026-04-20 Category: other Tags: airport, retail, shopping pass, Abu Dhabi, Zayed International Airport, Abu Dhabi Duty Free, tourism, leisure, dining, luxury brands **Summary:** Zayed International Airport has launched an eight-week Shopping Pass allowing UAE residents and nationals to access terminal retail, dining and public spaces without a boarding pass after pre-registration. The pilot, open to UAE ID holders, grants time-limited access to duty free shops and eateries and aims to test demand for non-travel airport visits. Abu Dhabi’s Zayed International Airport has launched a first-of-its-kind Shopping Pass campaign that allows UAE residents and nationals to enter terminal facilities without a flight boarding pass. Launched on 18 April, the eight-week initiative is open exclusively to UAE ID holders and grants time-limited access to the airport’s luxury retail, dining outlets and architecturally prominent public spaces after advance registration via the airport’s official website. "Airports are no longer just transit hubs and Abu Dhabi is leading the shift," wrote CBNME Editorial in its coverage of the programme. Programme details and visitor requirements Access is granted through a digital security pass issued after pre-registration on the airport website; the pass includes a QR code for entry and tracking during a visit. Visitors must return their security badge on exit and all entries are managed through a pre-booked appointment system; same-day amendments are possible only through direct coordination with the airport and require issuance of a new access pass. Strict security rules apply: visitors are not permitted to carry or use personal electronic devices such as laptops or tablets while inside the terminal. Minors under 18 must be accompanied by an adult. The airport is offering up to four hours of complimentary parking provided visitors spend a minimum of Dh200 within the terminal and obtain a validation voucher prior to departure. All payments at exit points are cashless; bank cards are required for transactions. The Shopping Pass gives non-travellers access to Abu Dhabi Duty Free’s retail offering, which features luxury labels including Cartier, Chanel and Hermès, alongside a curated selection of speciality boutiques. Dining options cited in the launch coverage range from casual cafés to higher-end concepts, including venues associated with celebrity chef Todd English as well as established regional names such as Jones the Grocer and Taste of India. Beyond retail and food and beverage, the initiative promotes the airport’s architectural and design features, inviting residents to experience spaces normally reserved for transit passengers at a more leisurely pace. The campaign positions Zayed International Airport as more than a point of departure or arrival, aligning with a broader trend of airports evolving into mixed-use lifestyle destinations. Outlook The eight-week pilot, beginning 18 April and detailed in coverage published by CBNME on 20 April 2026, will test demand from UAE nationals and residents for terminal-based leisure and retail visits. If successful, the scheme could encourage the airport and its retail partners — including Abu Dhabi Duty Free and the high-end brands and food concepts named in the launch — to expand non-travel offerings or refine access protocols. For now, the initiative underlines Abu Dhabi’s intent to reframe the airport experience and attract local visitors to spaces typically experienced only by travellers. --- ## Startale Expands to Abu Dhabi, Aligning With UAE's State-Backed Crypto Push URL: https://startupsmena.com/startale-expands-to-abu-dhabi-aligning-with-uaes-state-backed-crypto-push-benzinga-mo736vji Date: 2026-04-20 Category: tech Tags: **Summary:** Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to suppo Startale Group, a global blockchain infrastructure company, is expanding into Abu Dhabi after being selected for Hub71’s Digital Assets cohort, the company announced April 20. Startale was named one of 27 companies chosen from more than 2,400 global applicants and will establish operations within Abu Dhabi Global Market (ADGM) under the Hub71+ Digital Assets programme backed by Mubadala and the Abu Dhabi Department of Economic Development. The move follows Startale’s $63 million Series A funding round and places the firm inside a network of institutional partners, capital providers and regulators shaping the emirate’s digital asset strategy. “Hub71 and Abu Dhabi Global Market provide the regulatory clarity and global reach we need to scale Startale’s ecosystem responsibly,” said Sota Watanabe, CEO of Startale Group. “Abu Dhabi is becoming a key hub for digital assets, and joining this cohort positions us to expand across Eastern and Western markets, working closely with regulators and institutional partners.” Expansion scope and strategic assets Startale will use Hub71’s platform and ADGM’s regulatory framework to deepen work across multiple parts of its ecosystem. The company, which operates Astar Network — described in the announcement as Japan’s largest public blockchain — highlighted several core initiatives it plans to advance from Abu Dhabi: Soneium — being co-developed through Sony Block Solutions Labs, a joint venture with Sony Group Corporation, and positioned as part of Startale’s blockchain infrastructure push; Strium — another of Startale’s infrastructure projects named for expansion under the cohort; Stablecoin initiatives — including USDSC and JPYSC, the latter being advanced in collaboration with SBI Group; Startale App — the company’s consumer and developer gateway to the Soneium ecosystem; Personnel deployment and regulatory engagement — Startale said it will place staff in Abu Dhabi and work closely with regulators, investors and partners through Hub71 as it expands across the Middle East and global markets. Hub71 framed the selection as validation of Abu Dhabi’s specialist ecosystems and its appeal to founders seeking a launchpad for global growth. “We are pleased to welcome Startale Group into Hub71’s Cohort 18. Their focus on digital asset infrastructure reflects the strength of our specialist ecosystems and the calibre of founders choosing Abu Dhabi as a launchpad for global growth. We look forward to supporting their expansion,” said Divya Claudia Nair, Startup Journey Lead at Hub71. The announcement underscores a trend of crypto infrastructure firms seeking jurisdictions with clearer regulatory regimes and institutional capital access. By anchoring in ADGM and joining Hub71’s digital assets programme, Startale positions its Soneium, Strium and stablecoin projects to operate within a regulated framework while leveraging connections to Mubadala-backed resources and Abu Dhabi’s economic development apparatus. Startale’s move is framed as part of a broader strategy to scale its technology across Eastern and Western markets, working “closely with regulators and institutional partners” as it deploys its teams and products from Abu Dhabi, the company said in its release. --- ## A strong 1Q for UAE startups, but regional war threatens momentum come 2H - UAE URL: https://startupsmena.com/a-strong-1q-for-uae-startups-but-regional-war-threatens-momentum-come-2h-uae-mo703q8y Date: 2026-04-20 Category: tech Tags: **Summary:** Startups in the UAE were the most well-funded in 1Q 2026. That largely boils down to a single mega transaction, but is also a reflection of solid momentum carried over from 2025, Magnitt says in its l Startups in the UAE were the most well‑funded in 1Q 2026, raising USD 419 million in the quarter — a 47% year‑on‑year increase — driven largely by Property Finder’s bumper USD 170 million round, Magnitt’s latest report shows. But the headline figure masks softer underlying activity: transaction volume in the UAE fell 45% y‑o‑y to just 37 deals, non‑mega transactions declined to USD 249 million (down 13% y‑o‑y), and seasonality compounded by Ramadan, Eid and the regional war have clouded the outlook for the second half of the year. “The [investment] that's being announced today is [one] that was already discussed earlier,” Magnitt Research Director Farah El Nahlawi told EnterpriseAM. “The expected [impact of the war] is going to start reflecting in the region in 3Q numbers.” Context and detail Magnitt’s Q1 snapshot underlines how a small number of mega rounds are reshaping headline metrics. The UAE’s USD 419 million was boosted by Property Finder’s USD 170 million investment backed by Mubadala, while other large agreements included USD 50 million rounds for Egypt’s Breadfast and the UAE’s Kitopi. At the same time, the region’s start‑up scene saw overall funding of USD 799 million in 1Q — flat year‑on‑year but up 31% quarter‑on‑quarter — even as the number of closed transactions hit a five‑year low at 115, down 41% y‑o‑y. Magnitt points to several structural shifts. International investor participation in the region fell to 26% of capital deployed in Q1, down from 49% in 2025. El Nahlawi divides foreign investors into three groups: “the entrenched investors” with local offices that remain steady; “the fundraisers,” global firms using the region as a deployment market for wider funds; and the high‑risk “diversifiers” — predominantly US‑based firms with no regional presence. “Those are the ones that are going to pull back the hardest,” she said, noting that diversifiers’ share of capital collapsed from 22% to 5% in the quarter. The UAE accounted for 53% of total regional funding in Q1, with 70% of that capital originating from international investors. Some rounds were completed despite geopolitical volatility: Carnistore secured AED 45 million from Emirates Growth Fund, a deal co‑founder and co‑CEO Fikry Boutros said had been months in the works and was near close when EGF pushed to finalise it. Sector dynamics shifted: fintech remained the largest sector by value at USD 246 million (31% of funding) but saw a 48% y‑o‑y drop; AI’s share of deal value and deal count materially declined, with transaction share falling from 36% to 12%. Average agreement size reached an all‑time high of USD 8.1 million in 1Q 2026, reflecting concentration into larger rounds while pre‑seed and seed activity softened. Outlook Magnitt’s view is that 1Q numbers largely mirror 2025 sentiment — VC deals typically take six to nine months to move from handshake to close — so the full impact of recent geopolitical shocks is likely to appear in later quarters. El Nahlawi warns investors will gravitate towards “safer wagers,” favouring startups with the strongest fundamentals; she expects the composition of the investor base and deal sizes to remain key indicators to watch through 3Q and 4Q as the region responds to evolving risk perceptions. --- ## Saudi Arabia pulling back from sports funding: effects on motor sport? - Racing Comments - The Autosport Forums URL: https://startupsmena.com/saudi-arabia-pulling-back-from-sports-funding-effects-on-motor-sport-racing-comments-the-autosport-f-mo6z3o1u Date: 2026-04-20 Category: tech Tags: **Summary:** Saudi Arabia pulling back from sports funding: effects on motor sport? - posted in Racing Comments: If you follow golf, or even follow golf once a year around Masters time, you might know that the onc Saudi Arabia appears to be retrenching from high-profile sports investments, a shift that could ripple into motor sport, according to a discussion thread on the Autosport forums started by user Risil on 17 April 2026. The forum post points to reports that the Saudi Public Investment Fund (PIF) has reduced funding for major projects such as the LIV Golf breakaway league, raising questions about the future of Saudi-backed events and sponsorships in racing, from the Saudi Grand Prix to newly planned circuits like Qiddiya. "If you follow golf, or even follow golf once a year around Masters time, you might know that the once very impressive LIV breakaway league is beset by reports of financial trouble owing to a reduction in funding from the Saudi public investment fund (PIF)," wrote Risil in the opening post of the thread. Forum contributors echoed concern and sketched possible consequences for motorsport. Ali_G characterised the situation bluntly: "LIV is like the IRL on steroids. Has lost over $1B in little over 4 years. No one is watching it and it feels like you’re watching an exhibition." Ross Stonefeld argued that not all Saudi-linked investments are equally vulnerable, suggesting Aramco relationships may be more resilient because they "have a tangible return," while also noting the scale of the golf outlay: "All that money down the drain. And the billions spent on a golf league. It's not like they were building courses!" Where motor sport could be affected Events and sponsorships explicitly linked to Saudi capital — the Saudi Grand Prix and discussion of a second Saudi GP were named in the thread. High-profile partnerships such as Aramco sponsorships, which some forum users felt might be safer due to commercial visibility. New infrastructure projects, notably the Qiddiya F1 circuit under construction; multiple posters noted work continues despite wider regional instability. Regional events like the Dakar Rally and other race series that have accepted Saudi funding or hosting fees. Forum voices also raised wider objections beyond balance sheets. PayasYouRace wrote: "Saudi sportswashing has left a bad taste in my mouth for a long time... It's all style over substance." Several contributors questioned whether large-scale purchases and sponsorships — including the PIF-backed takeover of Newcastle United, referenced in the thread — have delivered grassroots development or produced driving and engineering talent from the region. Anja pointed out that "the UAE does the most in that regard" when it comes to producing drivers in junior categories, implying Saudi money has not proportionally advanced local motorsport ecosystems. Legal and contractual questions were also flagged. User kumo7 asked whether war-related budgetary claims would let Saudi funders withdraw without breaching agreements, noting the potential existential impact on events heavily dependent on PIF payouts. Outlook Forum discussion suggests the immediate fallout may be mixed: commercially focused sponsorships such as Aramco could persist, while speculative or reputational ventures like LIV face sharper strain. Infrastructure projects such as Qiddiya appeared to be continuing, but long-term viability of events bought through sponsorship rather than built from local motorsport development remains uncertain. As the Autosport thread shows, the industry will watch whether retrenchment leads to contract disputes, cancellations or a refocus toward sustainable, locally rooted motorsport investment. --- ## ZAWYA: EToro's AI investing companion Tori gets real-time X intelligence, powered by Grok 4.2 URL: https://startupsmena.com/zawya-etoros-ai-investing-companion-tori-gets-real-time-x-intelligence-powered-by-grok-42-tradingvie-mo6envg0 Date: 2026-04-19 Category: fintech Tags: fintech, ai, investing, social, trading, UAE **Summary:** eToro relaunched Tori, its AI investing companion, adding persistent memory, real-time market sentiment from X powered by Grok 4.2, and user-defined AI Agent Portfolios to enable conversational portfolio management. Abu Dhabi, United Arab Emirates — eToro has relaunched Tori, its AI investing companion, with three headline upgrades that push artificial intelligence deeper into the investing workflow: persistent memory across sessions, real‑time market sentiment drawn from X powered by Grok 4.2, and user‑defined AI Agent Portfolios that can be created and managed entirely through conversation. The announcement, published by eToro via TradingView, positions Tori as a proactive investing layer that tracks market developments, personal context and enables immediate action inside the eToro platform. "By integrating Grok 4.2 directly into Tori, we are bringing the pulse of the market to everyday investors. Translating real-time sentiment into structured intelligence that investors can use immediately. We believe this is a powerful step forward in combining community insight with trusted execution." — Yoni Assia, Co‑founder and CEO of eToro What’s new in Tori Real‑time X intelligence: Through an expanded integration with X, Tori now delivers live market sentiment and evolving market reactions powered by Grok 4.2. Users can query any asset, trend or breaking news item and receive immediate insights drawn from X without monitoring multiple social feeds. Persistent memory: Tori remembers a user’s portfolio, interests, prior conversations and activity patterns across sessions, enabling a more contextual and personalised experience that builds over time. Agent Portfolios: Users can create dedicated sub‑portfolios, allocate capital, connect an AI agent via a scoped API key and define operating parameters via natural conversation. The AI agent executes strategies inside the Agent Portfolio only, leaving the user’s main portfolio under direct control. The relaunch deepens a previous collaboration between eToro and X around market access and education by embedding real‑time X signals directly into investors’ workflows. The product briefing cites xAI’s view that "Financial conversations move fast. When major investors disclose positions, an analyst flags a macro shift, or retail sentiment turns on a major asset, the signal is on X first. eToro’s Tori now captures that signal in real time.” eToro frames Agent Portfolios as a lowering of technical barriers: users no longer need specialised quantitative skills to deploy AI‑driven strategies. The platform allows controlled experimentation by scoping AI activity to a dedicated sub‑portfolio, with capital allocation and operating limits set conversationally through Tori. "Agent Portfolios provide a structured way to experiment with intelligent portfolio automation in a controlled environment. This is not about replacing investors. It is about extending their capabilities, enabling them to deploy AI‑driven strategies safely, transparently and on their own terms.” — Yoni Assia The announcement also referenced a survey commissioned by eToro that sampled 1,000 retail investors residing in the UAE, conducted by Appinio from March 13, 2026 to March 26, 2026. eToro reminded users of standard regulatory and risk disclosures: the value of investments may go up or down, CFDs are leveraged and speculative, and capital is at risk. The company noted its global footprint — founded in 2007, with 40 million registered users across 75 countries — and regulatory oversight including the ADGM FSRA in the UAE (Financial Services Permission Number 220073). Media enquiries were directed to etoro@golin-mena.com as part of the relaunch materials distributed to newswires. --- ## Dubai‑based unicorn leaders hail emirate as global hub for digital innovation URL: https://startupsmena.com/dubaibased-unicorn-leaders-hail-emirate-as-global-hub-for-digital-innovation-emirates-247-mo5xgwrw Date: 2026-04-19 Category: tech Tags: **Summary:** Dubai's unicorn leaders highlight the emirate as a global hub for digital innovation, driven by forward-looking regulation, world-class infrastructure, top talent, and a fast-scaling ecosystem for tec Senior leaders from Dubai‑based unicorns have again positioned the emirate as a global launchpad for digital innovation, crediting forward‑looking regulation, world‑class infrastructure, access to international talent and a highly connected ecosystem for enabling rapid scale. Executives from Kitopi, Property Finder and XPANCEO highlighted close public‑private alignment — including the Dubai Chamber of Digital Economy under Dubai Chambers — and pointed to initiatives such as the Dubai Economic Agenda (D33), the Dubai Digital Strategy and a transition to a 100% paperless government as concrete enablers for technology‑led growth and cross‑border expansion. "Dubai’s digital ecosystem has been a major enabler of our growth," Mohamad Ballout, CEO and co‑founder of Kitopi, said. "The city offers a strong combination of forward‑looking regulation, world‑class infrastructure, access to exceptional talent, and a business environment that makes it easier to build, test and scale quickly. Its connectivity to regional and global markets has also been critical as we’ve expanded our ambitions beyond the UAE. Dubai is not only resilient; it is one of the most future‑focused places in the world to build a digital business. It combines speed, ambition and openness to innovation in a way that is hard to match, making it a powerful launchpad for companies looking to create and scale globally." Context and drivers Executives interviewed pointed to a cluster of regulatory, market and infrastructure factors that accelerate digital business models in Dubai. Fernando Fanton, Chief Product and Technology Officer at Property Finder, described an environment "anchored by initiatives such as the Dubai Economic Agenda (D33) and a digital‑first approach" that supplies "clear frameworks, trusted stakeholder networks and coordinated platforms" for innovation at scale. He cited milestones including the move to a paperless government, increased use of AI and Web3 in real estate, Dubai Land Department data initiatives and real estate tokenisation programmes as examples that provide clarity and confidence for developers and investors. Public‑private coordination via Dubai Chambers and the Dubai Chamber of Digital Economy Regulatory clarity in data, tokenisation and digital transactions World‑class infrastructure including large‑scale AI data centres and connectivity Access to global capital and strategic investors such as Mubadala, Blackstone and Permira Roman Axelrod, Founder and Managing Partner of XPANCEO, emphasised Dubai’s strategic focus on deep tech, science and AI, saying: "Dubai offers a rare combination of tax incentives, strong government backing and world‑class infrastructure. What truly sets the emirate apart is its prioritisation of deep tech, science and AI as core pillars of its economy." Axelrod pointed to collaborations with entities including Dubai Chambers, the Mohammed Bin Rashid Space Centre and the University of Dubai, as well as national initiatives such as the Mohamed bin Zayed University of Artificial Intelligence and moves towards AI‑driven government services. Outlook Executives believe Dubai’s appeal is durable: its combination of long‑term vision, investor links and institutional coordination makes the city less susceptible to short‑term volatility. As Axelrod put it, "While regional events may unsettle more volatile markets, Dubai remains steady. Its ambition, scale and commitment to long‑term investment ensure that growth remains sustainable." For founders and investors, the challenge now is aligning bold ambitions with an ecosystem designed to support decades of innovation rather than short business cycles. --- ## Why Dubai’s property market continues to draw global capital – even in uncertain times URL: https://startupsmena.com/why-dubais-property-market-continues-to-draw-global-capital-even-in-uncertain-times-mo5ucqtb Date: 2026-04-19 Category: tech Tags: **Summary:** Dubai built on structural fundamentals that remain intact regardless of volatility Dubai’s property market continues to draw global capital despite geopolitical tension and regional volatility, underpinned by what Ammar Malhi, COO of SmartCrowd, describes as “structural fundamentals” that remain intact. The emirate’s sustained population growth, world‑class connectivity, a transparent regulatory environment and rental yields that outperform many global cities are cited as core reasons international investors keep allocating funds to Dubai real estate. SmartCrowd, the MENA region’s first DFSA‑regulated real estate crowdfunding platform, points to more than 70 successful property exits, a global investor base spanning 130+ countries, and new product lines that have funded over AED 200 million in Property Flip projects. “Capital doesn’t retreat during uncertain times; it simply becomes more selective,” Malhi said, arguing that investors today prioritise flexibility, diversification and liquidity over concentrated, single‑asset bets. Context and platform details SmartCrowd offers fractional ownership starting from AED 500, a model the company says lowers the barrier to entry and allows investors to build diversified portfolios rather than tying up capital in one property. Every property on the platform “is rigorously vetted, supported by full financial reporting, and managed end‑to‑end through a seamless digital experience,” according to Malhi. The platform reports a track record of “market‑leading returns” and more than 70 successful property exits, with investors from over 130 countries participating in its offerings. Beyond Buy & Hold, SmartCrowd has expanded into Property Flips, funding more than AED 200 million in Flip projects with an average net ROI of 26% over 15 months, the company said. To address liquidity concerns, SmartCrowd has introduced a Share Transfer Facility intended to improve secondary market options for fractional owners. Malhi emphasises that even after several years of price appreciation, Dubai “remains competitively priced compared to other major hubs like London, Singapore, or New York,” a point he frames as central to why global capital views the emirate as a relative value proposition. The combination of durable demand drivers and a regulatory framework overseen by the Dubai Financial Services Authority (DFSA) is presented as a stabilising influence that attracts investors seeking exposure to real estate without excessive concentration risk. Outlook As macro uncertainty persists, investor behaviour has shifted from making large, concentrated property purchases to structuring exposure with greater emphasis on liquidity and diversification. Platforms such as SmartCrowd are positioning themselves to meet that demand by lowering entry thresholds, offering detailed financial reporting, and expanding product mixes to include faster‑turnaround Flip opportunities. “Capital hasn’t left the market; it has simply become smarter, and Dubai remains one of the places where smart capital continues to go,” Malhi wrote, summarising the view that Dubai’s fundamentals and evolving PropTech infrastructure will keep the emirate on the radar of international investors. --- ## Iconiq Invests Billions in AI Startups, Rivaling Silicon Valley VCs, ETEnterpriseai URL: https://startupsmena.com/iconiq-invests-billions-in-ai-startups-rivaling-silicon-valley-vcs-etenterpriseai-mo5lgj5k Date: 2026-04-19 Category: tech Tags: **Summary:** Iconiq put more than $3 billion into AI startups in 2025 alone, on par with the investment tallies of some of Silicon Valley’s best-known VC firms.Last year, Anthropic PBC chief Dario Amodei and a han Iconiq, the once-private wealth manager for Silicon Valley’s elite, put more than $3 billion into AI startups in 2025 and has expanded into venture capital at scale, investing as much as some of Silicon Valley’s best-known VC firms. The firm manages roughly $100 billion in assets, holds about $26 billion earmarked for VC investing and raised $5.75 billion for its last venture fund. Iconiq has invested about $4 billion in Anthropic and is reported to be one of the company’s largest backers, and it plans to raise billions more for a new fund, according to regulatory filings and people familiar with the matter. "It's been all AI, all the time," Iconiq partner Matthew Jacobson said in an interview. "The creative destruction creates a tremendous amount of opportunity." Context and details Iconiq organised a high-profile trip last year that sent Anthropic PBC chief Dario Amodei and several executives roughly 8,000 miles from San Francisco to the Middle East to meet with potent investors, including Qatar’s sovereign wealth fund and Abu Dhabi-based MGX; photos of Amodei with Ibrahim Ajami, head of ventures at Mubadala Capital, circulated online. The firm, co-founded by South African-born Divesh Makan in 2011, has long managed the personal fortunes of top tech leaders and global elites. Reported clients include Mark Zuckerberg, Satya Nadella, Dustin Moskovitz, Sheryl Sandberg and Reid Hoffman; recent reporting also named Nvidia CEO Jensen Huang as a client. Iconiq’s early VC funds have produced strong returns by industry benchmarks: its first fund, a $509 million vehicle launched in 2013, returned investors roughly 2.6 times their money, and its second fund, $1.02 billion, returned about 4.2 times and ranked in the top 5% of its peer group as of the most recently available comparisons. Despite its growing public footprint in startup financing, Iconiq remains protective of client and deal details and declined to comment on its stake in Anthropic, its fundraising plans and broader performance. Beyond capital, Iconiq leverages access as part of its investment approach. The firm has facilitated more than 100 introductions to potential customers for startups before investing and stages exclusive events — from a soccer scrimmage with David Beckham to private film screenings with Tom Cruise — that have connected founders to celebrities and potential partners. Examples of that networking include ElevenLabs CEO Mati Staniszewski meeting Tom Cruise at an Iconiq event and using Iconiq-hosted opportunities such as a Grammy Awards appearance and a pop-up demonstration to promote his firm’s AI translation and music-generation tools. Iconiq founder Divesh Makan has said the firm is selective about clients: "We end up being fairly targeted in who we invite because this business is not scalable," he told Bloomberg in 2024. London partner Seth Pierrepont described the firm’s client service ethos: "We sort of operate on this mantra of giving twice before asking once." Outlook: With billions already deployed into generative AI builders and a plan to raise further capital for venture investing, Iconiq is positioning itself as a major, trans-Pacific backer of AI start-ups. Its combination of deep-pocketed clients, deal-level capital and high-touch introductions gives it an influence that rivals traditional Silicon Valley firms—raising questions about valuation discipline, but also signalling that Iconiq intends to be a long-term, high-profile participant in the AI funding landscape. --- ## Abu Dhabi's AIQ targets US and Canada for energy AI exports URL: https://startupsmena.com/abu-dhabis-aiq-targets-us-and-canada-for-energy-ai-exports-the-national-mo5krwmr Date: 2026-04-19 Category: tech Tags: **Summary:** Chief executive says company also excited about prospects in North Sea Abu Dhabi-based artificial intelligence company AIQ is targeting the United States and Canada as key export markets for its energy-focused AI technology, chief executive Dennis Jol said, while also flagging opportunities in the North Sea. AIQ has more than 14 AI products in its portfolio, has put 14 of more than 200 use cases on global pilots, and in 2025 signed a $340 million, three-year contract with Adnoc to deploy EnergyAI — described as the first agentic AI for the energy sector — across Adnoc's upstream operations. "We'd like to take that technology to the United States, to Canada, to wherever else they can use our technology," Mr Jol said in a virtual interview, signalling the company's push to scale beyond existing deployments and partnerships in markets including Colombia, Indonesia and Kazakhstan. Context and recent developments AIQ is a joint venture between Abu Dhabi National Oil Company (Adnoc) and AI firm Presight and is chaired by Dr Sultan Al Jaber, Adnoc's managing director and group chief executive and UAE Minister of Industry and Advanced Technology. The firm was part of a larger Gulf delegation that was unable to attend CERAWeek by S&P Global in Houston because of the Iran war; the industry event drew more than 11,000 delegates last month. Key facts and partnerships outlined by AIQ and Mr Jol include: The $340 million contract with Adnoc to roll out EnergyAI and other solutions across upstream operations over three years. Ongoing partnerships in Colombia, Indonesia and Kazakhstan, with more than 14 AI products designed to boost energy operations. Fourteen of over 200 identified use cases are currently on global pilots targeting real-world energy sector problems. An upcoming scale-up announcement in a new market, with Mr Jol saying: "We're in the negotiation process of the final … terms and conditions." Links to the UAE's wider AI infrastructure plans, including the 5-gigawatt Stargate UAE data centre — with partners such as G42, Oracle, OpenAI, Nvidia, Cisco and SoftBank — expected to come online in 2026 across 19.2 square kilometres. Last November the US authorised the export of advanced Nvidia chips to G42, a development industry figures in the UAE welcomed as a boost to local AI ambitions. Outlook Mr Jol framed AIQ's strategy as part of a broader effort to turn sovereign compute and data into commercially exportable solutions. "The fact that we're sitting here in an ecosystem within a sovereign cloud, working with sovereign data, puts us in a unique spot to build models," he said, adding that the UAE has "the three ingredients necessary to be competitive: compute, data and talent." He also argued that energy-sector economics support wider adoption of AI. "When you look at what's happening with electricity pricing and data centres, I think that you'll see that the need for AI to make our energy systems far more optimum is … our biggest opportunity," Mr Jol said. AIQ's near-term plans include finalising negotiations for a market scale-up and leveraging existing pilots to win contracts in North American and European energy hubs. --- ## UAE Dominates as MENA Funding Slows in 2026 URL: https://startupsmena.com/uae-dominates-as-mena-funding-slows-in-2026-mo5kmc8o Date: 2026-04-19 Category: funding Tags: UAE, MENA, funding, fintech, venture capital, geopolitics, gender gap **Summary:** Startup funding in MENA slowed sharply in Q1 2026 to $941M (a 21.5% QoQ decline) while the UAE dominated with $625.8M across 46 deals; fintech led the quarter and a pronounced gender funding gap persisted. Startup funding across the Middle East and North Africa slowed sharply in Q1 2026, with the region raising $941 million — a 21.5% decline from the prior quarter and a 37% year-on-year drop, according to reporting by Rafiqul Islam. The United Arab Emirates continued to dominate the market, contributing $625.8 million across 46 deals and absorbing the largest share of capital amid a broader pullback driven by rising geopolitical tensions. "This shows that even during uncertainty, investors still trust the UAE market," Rafiqul Islam wrote, highlighting the emirates' resilience thanks to strong infrastructure, business-friendly policies and continued access to global capital. Quarterly and monthly dynamics Islam’s report — which also reviewed Wamda’s monthly reports for deeper context — charts how investor sentiment deteriorated over the quarter. January saw nearly $500 million invested across 59 deals, but funding fell to $326.6 million in February as tensions increased. March recorded a sharp slowdown: only 17 startups raised less than $50 million in the month, illustrating how quickly funding momentum evaporated as geopolitical risks intensified, including conflicts involving the United States, Israel and Iran and disruptions around the Strait of Hormuz. Where the money went UAE: $625.8M across 46 deals Saudi Arabia: $156.7M across 57 deals Egypt: $86M across 12 deals Morocco: $22.6M Bahrain: $22M Sector allocation shows concentration in a few verticals. Fintech led the quarter, accounting for 46% of total funding. Proptech attracted $228.6 million, while foodtech secured $60 million. Early-stage activity remained meaningful, with 110 deals totalling $233 million, even as late-stage rounds thinned to just seven deals raising $113 million. Deal type and demographic trends B2B startups led in deal volume: 74 deals worth $199 million. B2C startups drew the majority of capital: 43 deals raising $564.6 million. Gender gap: only five women-led startups raised a combined $500,000 versus roughly $924 million raised by male-founded startups (98% of total). "The funding gap between male-led and women-led startups remains one of the biggest challenges in the ecosystem," Islam notes, pointing to limited networks, fewer large-round opportunities, and bias in decision-making as persistent barriers. Outlook: investors have become more selective, favouring safer sectors and earlier-stage, lower-ticket rounds. UAE startups retain an advantage but will need to demonstrate clear revenue models and strong fundamentals as late-stage capital tightens. As Islam concludes, capital is still flowing in the region — but it is increasingly concentrated in fewer markets, safer sectors and smaller, high-conviction bets. --- ## Five MENA Deep-Tech Startups Touch Down in Silicon Valley for Propeller's First-Ever Kernel Camp URL: https://startupsmena.com/five-mena-deep-tech-startups-touch-down-in-silicon-valley-for-propellers-first-ever-kernel-camp-tech-mo5d9lm9 Date: 2026-04-19 Category: tech Tags: **Summary:** A venture capital firm with roots in the MENA region has brought its most ambitious cross-border bet to life, landing five founders from Tunisia, Morocco, Jordan, and Egypt in the Bay Area for an eigh Propeller, a venture capital firm focused on AI infrastructure with roots in the MENA region, has brought five deep‑tech founders from Tunisia, Morocco, Jordan and Egypt to Silicon Valley for the inaugural Kernel Camp, an eight‑week residency designed to embed them in the heart of the global AI ecosystem. The cohort — described by the firm as its most ambitious cross‑border bet — arrived for a programme of workshops, mentorship and direct exposure to engineers, operators and investors across the Bay Area. Kernel Camp was first announced in December 2025 as a core pillar of Propeller’s cross‑border strategy and will culminate in a demo day for the firm’s Bay Area community in May 2026. Propeller leadership on the programme “This is a milestone the firm had been working toward since the launch of Fund III. The founders are technically exceptional and the Silicon Valley environment is designed to push them to build faster, think bigger, and connect with networks that can meaningfully accelerate their trajectory,” said Zaid Farekh, Founder and Managing Partner at Propeller. Cohort, offering and rationale The five companies in the inaugural Kernel Camp cohort operate at the frontier of AI infrastructure, developer tooling and cybersecurity. Propeller says the residency is intended not merely as a Bay Area visit but as a genuine ecosystem insertion that gives curated access to the communities and conversations that matter at an early stage of company building. OORB (Tunisia) — building a cloud robotics workspace that lets developers build and test ROS projects directly in the browser. Eli by Techbible (Morocco) — an AI Stack Manager that gives companies full visibility into their SaaS and AI tool expenditure. Firstflow (Jordan) — providing an onboarding and analytics layer specifically designed for AI agents. Nexguards (Egypt) — offering a personalised cyber attack simulation and security awareness platform. Flowbrave (Morocco) — transforming static business processes into AI‑guided workflows through an intelligent operations platform. The programme provides fully sponsored housing, curated workshops, weekly guest sessions, one‑on‑one office hours with world‑class builders, and site visits to leading technology companies and venture firms across the Bay Area. Propeller says it targets technically strong, demo‑ready founders working full‑time on companies that already show early signs of traction. Community and next steps “The goal is not just education but belonging — helping these founders become genuine participants in the Silicon Valley ecosystem rather than visitors to it,” said Propeller partner Hani Azzam, emphasising the residency’s community dimension. The eight‑week residency builds toward a May 2026 demo day where founders will present to Propeller’s Bay Area network. Founders, operators, engineers and investors in the Bay Area who want to engage with the cohort can register interest at propellerinc.me/kernel-camp-partners-investors. For Propeller, Kernel Camp represents a tangible move to connect MENA technical talent with the dense networks of capital and expertise in Silicon Valley under the firm’s Fund III strategy. --- ## LIV Golf CEO confirms Saudi funding will end but says he has a plan that 'might surprise some people' URL: https://startupsmena.com/liv-golf-ceo-confirms-saudi-funding-will-end-but-says-he-has-a-plan-that-might-surprise-some-people-mo5d61m6 Date: 2026-04-19 Category: tech Tags: **Summary:** LIV Golf CEO Scott O'Neil confirmed reports that the Saudi Arabian Public Investment Fund will stop giving money to the golf league after this season. LIV Golf CEO Scott O'Neil confirmed reports that the Saudi Arabian Public Investment Fund (PIF) will stop providing financial support to the controversial golf league after the 2026 season, but told TNT Sports he has a contingency that "might surprise some people." O'Neil said the league is funded through this season and pledged that events will proceed "exactly as planned, uninterrupted, and full throttle," according to an internal memo obtained by Fox News Digital. Direct quote "The reality is you're funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going. But that's not different from any other private equity-funded business in the history of man," O'Neil told TNT Sports. He added during interviews around the tour's Mexico City stop: "We have one, it might surprise some people..." Context and details The Financial Times was first to report that the PIF—the sovereign wealth fund behind LIV Golf—will cease funding after the 2026 season, a development sources confirmed to Fox News. O'Neil addressed staff directly in the memo, pushing back on speculation and emphasizing operational continuity: "While the media landscape is often filled with speculation, our reality is defined by the work we do on the grass. We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before." O'Neil framed LIV's challenge as typical of private-equity style ventures. He acknowledged the likelihood of future capital raises, saying "Do you have to raise money? Probably. This is business. But if we keep the trajectory going the way we are and the revenue growth going, this is going to be a really good business for a really long time." The memo to employees leaned on start-up rhetoric: "The life of a startup movement is often defined by these moments of pressure. We signed up for this because we believe in disrupting the status quo. We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now, we answer by doing what we do best: putting on the most compelling show in sports." Background and recent developments LIV Golf launched in 2022 and has drawn high-profile defections from the PGA Tour. Its events have included major champions such as Brooks Koepka (2023 PGA Championship) and Bryson DeChambeau (2024 U.S. Open). The tour shifted from a 54-hole format to 72 holes beginning in the current season, a change aimed at aligning more closely with traditional professional golf. Notable figures associated with LIV's early years include Yasir Al-Rumayyan of the PIF, Greg Norman, and Majed Al Sorour of the Saudi Golf Federation. Outlook O'Neil said structural changes are coming and that he has detailed plans he has already discussed with contacts at Augusta and elsewhere. He urged staff and supporters to "embrace" the scrutiny and to focus on delivering events, closing his memo with a rallying cry: "Let’s go out and show the world why LIV Golf is the future of the game. It matters. You mattered. Now, let’s go win. Long LIV Golf." As the 2026 season plays out, LIV Golf will face the dual tests of replacing a major backer and convincing sponsors, players and fans that it can sustain revenue growth. For now, O'Neil is betting that a combination of new structural moves and continued on-course product will keep the league viable beyond PIF's support. --- ## The Week In Irish Startups - by Ed O'Riordan URL: https://startupsmena.com/the-week-in-irish-startups-by-ed-oriordan-mo4x92n8 Date: 2026-04-18 Category: tech Tags: **Summary:** Live with hotel groups across Ireland and the UK, including the O’Callaghan Collection and Fitzpatrick Castle Hotel, the funding will support product expansion and growth into the UK, Europe, the US a Irish startups closed a busy week of fundraising and product launches, led by Dublin hotel AI firm Otel AI which has raised €2.8 million within six months of launch in a round led by Playfair with participation from Nebular and angel investors including Indeed co‑founder Paul Forster. Other headline deals include Dublin fintech Audrey AI’s $1.8 million pre‑seed round led by Sure Valley Ventures and Delta Partners, security AI vendor Vox Talk AI’s €1.35 million pre‑seed, Ulysses’ $46 million across seed and Series A rounds, and Solidroad’s $25 million Series A, bringing its total to $31.5 million. "Here are the main events, funding and hiring news this week that I thought you might find of interest in the Irish Start‑up Ecosystem," Ed O'Riordan wrote in his newsletter summarising the activity. Funding and product positions Otel AI — Founded by Paul Ryan and Nikhil Patil, the Dublin startup builds "AI co‑workers for hotel General Managers, connecting existing hotel systems into a single operational layer that automates daily reporting, analysis and back‑office tasks." The €2.8m raise was led by Playfair with Nebular and angels including Paul Forster. Otel AI is already live with hotel groups across Ireland and the UK, including the O’Callaghan Collection and Fitzpatrick Castle Hotel, and will use the funding for product expansion and growth into the UK, Europe, the US and the UAE. Audrey AI — Founded in 2025 by Ryan Loughran and David Burke, the Dublin‑based fintech raised $1.8m in a pre‑seed round led by Sure Valley Ventures and Delta Partners, with participation from Enterprise Ireland and angels such as former Calypso CEO Donnchadh Casey and former Wayflyer CBO Conor Jones. Audrey AI builds AI tools to automate time‑consuming elements of financial audits and will grow its audit and engineering teams and expand across Ireland, the UK and beyond. Ulysses — The San Francisco‑based autonomous ocean vehicle company co‑founded by Will O’Brien, Colm O’Brien, Akhil Voorakkara and Jamie Wedderburn raised $46m in two rounds: an $8m seed led by Pebblebed and a $38m Series A led by a16z, with participation from Booz Allen Ventures and Harpoon Ventures. Ulysses, which operates vehicles as a service rather than selling hardware, reports more than $5m in customer revenue and partnerships that include the US Navy, the Government of Australia and the Great Barrier Reef Foundation. Vox Talk AI — Founded by Mark Harkin, the Dublin security AI company raised €1.35m in a pre‑seed round co‑led by Delta Partners and ACT Venture Capital and supported by Enterprise Ireland. The firm deploys AI operators handling voice calls, incident logging and communications across alarm monitoring centres in more than 30 languages; customers cited include Fenix Monitoring, Action 24 and G4S. Solidroad — Founded in 2023 by former Intercom employees Mark Hughes and Patrick Finlay, Solidroad closed a $25m Series A led by Hedosophia on top of a $6.5m seed led by First Round Capital, taking total funding to $31.5m. The customer support QA platform automates quality assurance across voice, chat and email, and lists Ryanair, Crypto.com and Oura among its clients. Outlook and ecosystem activity Beyond financing, the Irish tech calendar is busy: AWS Startup Ireland is hosting a half‑day "Finance & Compliance for Enterprise Readiness" event on April 28 with Vanta and Partners for Growth; Tech Tee Up returns on June 16 at Elm Park Golf & Sports Club; and TechTides expands to Belfast with a June 11 conference at the ICC. Hiring remains active too, with roles highlighted from AWS (Startup Account Manager) to Otonomee (Business Development Director), Ctrl Alt (multiple engineering and operational positions) and Daisy (Applied Scientist and Full Stack Engineer). --- ## Week 16's Biggest Startup Funding Rounds in Africa and the Middle East, Led by Aya and Capsule Security URL: https://startupsmena.com/week-16s-biggest-startup-funding-rounds-in-africa-and-the-middle-east-led-by-aya-and-capsule-securit-mo4sxsv0 Date: 2026-04-18 Category: tech Tags: **Summary:** Startups across Africa and the Middle East raised a combined $27.4 million this week, based on disclosed funding rounds tracked by Techloy, with investor capital flowing into fashion tech, cybersecuri Startups across Africa and the Middle East raised a combined $27.4 million in disclosed rounds during Week 16, Techloy reported, with investor capital flowing into fashion tech, cybersecurity, clean energy, and healthtech. Early-stage deals dominated the week’s activity, with notable rounds in Saudi Arabia, Israel, South Africa, Egypt, Nigeria and Qatar. The largest single rounds were led by Saudi fashion e‑commerce player Aya and Israeli cybersecurity newcomer Capsule Security, each securing $7 million. "Aya is a Saudi e‑commerce platform that tests over 700 clothing designs each month and only moves into production on the ones customers actually respond to, cutting out the waste that most traditional fashion brands build into their process." The week's largest disclosed rounds Aya — $7 million (SAR 26 million), Fashion E‑commerce, Saudi Arabia: Series A led by RAED Ventures and joined by Nuwa Capital, Sanabil Investments, Joa Capital, and Khwarizmi Ventures. The capital will expand Aya into new product categories and scale its customer‑driven production model across broader fashion and lifestyle segments. Capsule Security — $7 million, Cybersecurity, Israel: Seed round for the Tel Aviv startup founded in 2025 by Naor Paz and Lidan Hazout. Capsule Security "monitors AI agents as they operate within company systems in real time and steps in when they begin acting outside approved limits, leaking sensitive data, or being manipulated by external inputs." The round was led by Lama Partners and Forgepoint Capital International and will fund hiring and enterprise go‑to‑market efforts. Refiant — $5 million, AI & Clean Tech, South Africa: Seed funding from VoLo Earth Ventures. Refiant uses nature‑inspired algorithms to compress large AI models so they can run on ordinary commercial hardware, cutting power consumption by more than 80% without major performance loss. Funds will expand the platform, grow engineering, and deepen enterprise partnerships. AI Diagnostics — R85 million ($4.7 million), Healthtech, South Africa: Pre‑Series A from The Steele Foundation for Hope, the iFSP Group, the Global Innovation Fund, Africa Health Ventures, and Savant. AI Diagnostics makes the Ostium, an AI‑powered digital stethoscope for TB screening; funding will support clinical research, hardware development and scaling across sub‑Saharan Africa and parts of Asia. Jozo — $2.21 million (SAR 8.3 million), Proptech, Saudi Arabia: Seed round with strategic partnership from Sheikh Hamad Bin Saedan Real Estate Co. Founded in 2024 by Turki Al‑Shlail and Fahad Almansour, Jozo tokenised the country’s first private‑sector real estate deed and will use proceeds to build technology and scale nationally. INVIA — $1.2 million, Fintech, Egypt: Founded in 2023 by Yehia Ashour, Ahmed Zeinhom and Omar Aboulmagd, the platform consolidates bookkeeping, cash‑flow, inventory and manufacturing management for SMEs. Angel and strategic backers will help product development and SME adoption across Egypt. NectarFi — $170,000, Crypto & Fintech, Nigeria: Lagos‑based Solana app combining savings, spending, cross‑border transfers and trading. Early funding coincided with a public launch after onboarding more than 1,000 users across Nigeria, South Africa, Kenya, Ghana, Thailand, Indonesia, Brazil and Argentina during private testing. Sufra AI — $100,000, Food Tech, Qatar: Doha startup founded by Carnegie Mellon Qatar graduates Ekaterina Demenkova and Jemal Velihanova. Pre‑seed from Snoonu under its Startup Factory initiative; the QR‑based smart menu aims to lift average order values by 20–30% while providing ordering, payments and analytics to restaurants. Other announced moves included undisclosed investments in PowerLabs — an AI‑powered energy management startup backed by Breega, Catalyst Fund, Mercy Corps Ventures and Kaleo Ventures — and a strategic investment in Saudi fintech AVA from Plug and Play Middle East. With early‑stage rounds dominating and capital flowing into a range of sectors from fashion to cybersecurity and clean tech, investors appear to be broadening their bets across the region rather than concentrating on a single theme. The coming quarters will test how quickly these startups can translate seed and Series A capital into customer traction and regional scale. --- ## ADIB Becomes the UAE’s First Bank Licensed to operate as an Open Finance Provider under the UAE’s Open Finance AlTareq Initiative URL: https://startupsmena.com/adib-becomes-the-uaes-first-bank-licensed-to-operate-as-an-open-finance-provider-under-the-uaes-open-mo4lrnfh Date: 2026-04-18 Category: tech Tags: **Summary:** Finastra: Balancing Innovation ... with the Launch of Alkami Code Studio · Home » News » Fintech » ADIB Becomes the UAE’s First Bank Licensed to operate as an Open Finance Provider under the UAE’s Ope Abu Dhabi Islamic Bank (ADIB) has become the first bank in the United Arab Emirates to be licensed as a Third‑Party Provider (TPP) or Open Finance Provider under the Central Bank of the UAE’s AlTareq Open Finance initiative, the bank announced on April 17, 2026. The licence enables ADIB to securely aggregate customer‑permissioned account data from other banks, offering customers a consolidated view of their finances through a single ADIB interface and aligning with the Central Bank’s 2023–2026 strategy to build a more connected, customer‑centric national digital ecosystem. “Becoming the first bank licensed as a Third ‑ Party Provider under the UAE’s AlTareq Open Finance initiative is a strategic step in building the bank of the future,” said Mohamed Abdelbary, Group Chief Executive Officer of ADIB. “It enables us to deliver more connected, faster and more personalised solutions for our customers, while maintaining the highest standards of security and regulatory compliance.” Context and details The TPP licence allows ADIB to extend its digital capabilities beyond traditional account custody roles to act as an authorised data aggregator within the AlTareq framework. Built on explicit customer consent and stringent data‑protection standards, ADIB’s new role under the initiative will use approved APIs, strong authentication and robust controls to enable secure data sharing between institutions. ADIB framed the move as part of a broader transformation tied to its Vision 2035, and as a continuation of early adoption of Open Finance in the UAE. The bank has already focused on simplifying and accelerating customer journeys, citing recent enhancements to fully digital onboarding for Home Finance Approval and Card applications. Those processes now allow existing customers and non‑customers to complete applications in minutes via straight‑through digital processing. Account aggregation: Customers can view and manage accounts held at other banks within ADIB’s interface, improving financial oversight and decision‑making. Consent and security: Data sharing is enabled strictly on explicit customer consent, with approved APIs and strong authentication. Customer insight: Aggregated, permissioned data will help ADIB tailor products and identify new opportunities based on customer behaviour. Operational benefits: The bank expects improved automation, more efficient data consolidation and enhanced cross‑account transparency. Outlook ADIB signalled that the TPP licence is an initial step and that additional features and use cases will be rolled out over time. “Looking ahead, ADIB will continue to expand and refine customer journeys enabled by Open Finance, with additional features and use cases to be rolled out over time,” the bank said, adding that it will regularly update digital journeys to strengthen financial transparency and support better customer decision‑making. The announcement, flagged in coverage credited to Dominic Sow, positions ADIB at the forefront of the UAE’s nascent Open Finance ecosystem as the country moves to implement AlTareq nationally. By combining regulated custodial responsibilities with authorised TPP functions, ADIB aims to bridge traditional banking services and new data‑driven customer experiences while maintaining compliance with Central Bank standards. --- ## Galaxy Corporation Establishes Dubai Subsidiary, a First for K-Entertainment - 스포츠경향 URL: https://startupsmena.com/galaxy-corporation-establishes-dubai-subsidiary-a-first-for-k-entertainment--mo4ilg5p Date: 2026-04-18 Category: tech Tags: **Summary:** Galaxy Corporation, a global AI entertainment-tech company, has become the first among domestic entertainment firms to establish a Middle East subsidiary in Dubai and will use the UAE as a base to ... Galaxy Corporation, a global AI entertainment‑tech company, has established a Middle East subsidiary in Dubai — branded Galaxy ME — becoming the first among domestic entertainment firms to set up a regional entity in the UAE. The company said the Dubai arm will serve as a base to expand its robotics and advanced media businesses, fully launch global operations through cooperation with local government and major institutions, and drive its “Entertech 2.0” vision that integrates AI, robotics and media technologies. “Through the meeting with Galaxy ME, we discussed various opportunities for cooperation in media and advanced technology,” Ahmed bin Mohammed bin Rashid Al Maktoum, a member of the UAE royal family, said via official channels. “We expect this to help further strengthen Dubai as a global hub for content and the creative economy.” Context and details Galaxy Corporation announced the formation of Galaxy ME in Dubai and said it will use the UAE’s infrastructure and partnerships to scale robotics and AI‑based content businesses globally. Cho Sung‑hae, head of the Middle East entity, met in Dubai on April 16 with Ahmed bin Mohammed to discuss cooperation in media and advanced technology. Cho emphasized the strategic nature of the partnership amid regional uncertainty: “A true friend is one who stands together in difficult times.” Cho added, “We trust the long‑term vision and stable systems of the UAE, and we will build together an AI and robotics industry that combines culture and technology,” framing Galaxy ME as a trust‑based strategic partnership rather than a single project. Choi Yong‑ho, CEO of Galaxy Corporation, said the decision to locate a Middle East hub in Dubai “during a period of great uncertainty was due to confidence in the vision and execution capability of the UAE.” He also thanked Ahmed bin Mohammed for the “strong trust extended through this meeting,” adding, “Galaxy will in earnest build here a new industry that combines AI, robots, and content.” Galaxy described its regional strategy as part of an “Entertech 2.0” push that marries AI, robotics and media technologies and aims to accelerate expansion into Global South markets, using Dubai as a springboard for content, creative economy initiatives and advanced‑media projects. Outlook Galaxy Corporation plans to make Galaxy ME a core hub for its global media ambitions, leveraging Dubai’s infrastructure and government linkages to create business opportunities that combine robotics and AI‑driven content. The company framed the move as both strategic and symbolic: by establishing a permanent presence in the UAE, Galaxy seeks to formalize cooperation with local institutions and position itself at the intersection of culture and technology. With official support signaled by the meeting between Cho Sung‑hae and Ahmed bin Mohammed, Galaxy’s next steps are likely to focus on operationalising joint projects, pursuing partnerships with regional institutions, and deploying its Entertech 2.0 roadmap into target markets across the Global South — a plan Galaxy’s leadership says is underpinned by confidence in Dubai’s systems and long‑term vision. --- ## UAE economy continues global ascent, reports robust growth in early 2026 URL: https://startupsmena.com/uae-economy-continues-global-ascent-reports-robust-growth-in-early-2026-emirates-247-mo4iemvq Date: 2026-04-18 Category: other Tags: UAE, economy, sovereign fund, banking, trade, ADNOC, Mubadala **Summary:** The UAE economy maintained strong momentum in early 2026, supported by a resilient banking sector, rising foreign trade and sovereign investment strength; Mubadala reported AED1.4 trillion in assets and ADNOC entered the world’s top 100 most valuable brands. The UAE economy sustained strong momentum in early 2026, underpinned by a resilient banking sector and growing foreign trade and investment, official data and reports show. According to the Central Bank of the UAE (CBUAE), total banking assets rose 1.1% in February to exceed AED5.472 trillion, while total credit increased 1.2% to AED2.63 trillion, supported by a AED20.6 billion rise in domestic credit. Bank deposits climbed 1.9% to AED3.4 trillion, with resident deposits at AED3.098 trillion. "The UAE economy maintained its upward trajectory during the first months of 2026, supported by the strength of the financial and banking sector and rising foreign trade and investment indicators," said WAM. Financial stability and sovereign ratings The financial sector’s stability is reflected in regulatory ratios: the capital adequacy ratio stood at 17% at the beginning of March, and the liquidity coverage ratio exceeded 146.6%, both well above international regulatory standards. UAE banks also featured prominently in Forbes’ 2026 list of the world’s best banks, with national institutions such as First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Emirates Islamic, Emirates NBD and Commercial Bank of Dubai included. International rating agencies reaffirmed the UAE’s sovereign strength. Moody’s maintained its Aa2 rating with a stable outlook following its review on 30 March 2026, while S&P Global Ratings affirmed the UAE’s sovereign credit rating at AA/A-1+ (local and foreign currency) with a stable outlook. S&P highlighted consolidated government net assets estimated at around 184% of GDP in 2026 and government liquid assets of approximately 210% of GDP. Trade, investment and corporate activity Total foreign trade reached AED6 trillion in 2025, a 15% increase year-on-year, the UAE reported. Trade in services exceeded AED1.14 trillion for the first time. Non-oil merchandise trade rose 27% to AED3.8 trillion. The UAE entered the World Trade Organization’s list of the world’s top ten merchandise exporters, ranking ninth. The government’s foreign trade push under the Comprehensive Economic Partnership Agreements (CEPA) programme aims to increase non-oil trade to AED4 trillion by 2031; agreements were signed in Q1 2026 with the Philippines, Nigeria, the Democratic Republic of the Congo and Gabon. Mubadala Investment Company reported assets of AED1.4 trillion and a cumulative return exceeding 10% over five- and ten-year periods, signalling continued resilience in sovereign investment portfolios. On the corporate front, the UAE recorded more than 1.45 million registered companies by the end of February. Dubai Chamber of Commerce added 2,709 new companies in March 2026. Regional licence activity showed steady growth: Sharjah Economic Development Department recorded a 1% increase in issued and renewed licences in Q1 2026 versus Q1 2025, while Ajman issued 1,617 new licences and 8,777 renewed licences — the latter up 7% year-on-year. Branding, markets and outlook ADNOC entered the list of the world’s 100 most valuable brands and remained the UAE’s most valuable brand for the eighth consecutive year, with brand value up 11% to $21.13 billion — more than 350% growth since 2017. Dubai climbed to seventh place in the Global Financial Centres Index (GFCI), its highest ranking to date. Sovereign debt markets also saw robust demand: the March 2026 dirham-denominated Treasury bonds auction issued AED1.1 billion, attracting total bids of AED4.85 billion — about 4.4 times the issuance size — particularly for tranches maturing in September 2027 and January 2031. With solid fiscal buffers and rising trade and corporate activity, the data point to continued macroeconomic resilience for the remainder of 2026. --- ## Dubai is open for business – but not yet business as usual URL: https://startupsmena.com/dubai-is-open-for-business-but-not-yet-business-as-usual-agbi-mo4ii5ik Date: 2026-04-18 Category: tech Tags: **Summary:** Dubai businesses are open and bustling, but the city finds itself in an unusual place – not in crisis but not fully at ease Dubai’s streets, restaurants and business clubs are filling up again, but the emirate is not yet back to full normality, according to AGBI Editor-at-Large Frank Kane. While venues such as the Cullinan steak-house in Marsa Al Arab and a drinks reception at Capital Club Dubai in DIFC were described as “busy” and “as well attended as ever,” others — notably the vast public areas of the Jumeirah Beach Hotel — remain quiet and tourist numbers are subdued. Consultancy Capital Economics has warned Gulf economies could face a contraction of between 5 and 10 percent this year, and organisers have rescheduled the Arabian Travel Market for August, signalling a softer season ahead. "Open for business, if not quite 'business as usual' – yet," Kane wrote, capturing the dual reality in Dubai: visible signs of life alongside unease about what comes next. City scene and business mood Kane’s on-the-ground observations paint a city returning to routine but operating in an economic and psychological limbo. He reported that DIFC, which “not so long ago felt eerily hollowed out while missiles were flying,” is “edging back towards hectic,” with traffic flows, office attendance and social networking picking up. Morning coffee at the Arts Club felt familiar, though Kane noted that the “ladies who lunch” had in the main been replaced by the “men who manage,” discussing recovery strategies. Capital Economics projection: Gulf economies may contract 5–10% this year. Arabian Travel Market: rescheduled for August. Jumeirah Group: closed Burj Al Arab for refurbishment, described as a strategic use of softer demand. Kane flagged the decision by Jumeirah Group to close the Burj Al Arab for refurbishment as both a planned upgrade and an “opportunistic use of a moment when demand is softer than usual” — a move that conserves capacity in a lower-demand period. He contrasted that practical business response with the nearly empty promenades at the Jumeirah Beach Hotel, which he likened to a “Mary Celeste.” Voices on recovery and risk The conversation among business leaders is dominated less by the conflict itself and more by its economic aftermath. Veteran regional entrepreneur Fadi Ghandour offered a more optimistic scenario, invoking the “hockey stick effect” — a sharp downturn followed by an equally sharp recovery — potentially beginning as early as the third quarter. That framing provides a counterpoint to the more cautious warnings echoed in consultancy analyses. Kane concluded that, while Dubai’s infrastructure and institutions remain intact and schools are due to return to in-person learning next week, the city occupies an ambiguous position: “not in crisis, but not entirely at ease either.” The near-term picture is one of resilience tempered by caution, with hopes that the anticipated “hockey stick” recovery will materialise by year-end but with an acceptance that the full impact of recent shocks may yet be felt. --- ## Morocco has turned into Africa's premier defense-tech powerhouse- opinion URL: https://startupsmena.com/morocco-has-turned-into-africas-premier-defense-tech-powerhouse-opinion-the-jerusalem-post-mo4h5xod Date: 2026-04-18 Category: tech Tags: **Summary:** Morocco’s fusion of Israeli precision weapons and Turkish heavy‑strike drones is reshaping Africa’s military balance Morocco has emerged as a continent-wide hub for defense technology after a string of industrial and training commitments that fuse Israeli precision systems and Turkish heavy-strike drones with local assembly and technology transfer. In November 2025 Israel Aerospace Industries (IAI) subsidiary BlueBird Aero Systems opened a SpyX loitering-munition production facility in Benslimane — the first such factory in North Africa or the Middle East outside Israel — while Turkish firm Baykar established its Atlas Defense subsidiary in Rabat under a $70 million program targeting annual output of up to 1,000 platforms. "It is about a sustainable, enduring capability," Gen. Christopher Donahue, commander of US Army Europe and Africa, said at the African Land Forces Summit in Rome on March 23–24. "Once we prove its effectiveness, we can take it to other parts of Africa." Context and details The BlueBird SpyX line being produced in Morocco is a man-portable loitering munition with a 50-kilometer operational radius, 90–120 minutes of loiter time, terminal dive speeds exceeding 250 km/h and a 2.5 kilogram warhead. SpyX vehicles are equipped with electro-optical/infrared (EO/IR) seekers and autonomous target-tracking algorithms, and can be operated by two personnel from a single tactical vehicle. Moroccan engineers were trained at BlueBird facilities in Israel as recently as November 2025, and local assembly, integration and sustainment are now carried out under a full technology-transfer model, Amine Ayoub reported in The Jerusalem Post. Air and missile defense: Morocco has fielded IAI’s Barak MX, an evolution of the Barak 8 family, incorporating ELTA ELM-2084 AESA radars for multi-threat tracking. Artillery and fires: Elbit Systems’ ATMOS 155 mm wheeled self-propelled howitzers and Elbit EXTRA extended-range rockets (150 km range, 10-meter CEP) are in service for precision fires and rapid shoot-and-scoot operations. ISR and strike drones: Baykar’s program in Morocco targets production of Bayraktar TB2 MALE ISR/strike UAVs and the heavier Akinci HALE system (1,500 kg payload capacity) through Atlas Defense facilities, with production elements also located in Benslimane. Airframe upgrades and radars: Morocco has integrated 20 ELTA radars onto upgraded F-5E Tiger II fighters to enhance situational awareness. These capabilities have been operationally exercised with partners. Moroccan and US forces have conducted integrated electronic-warfare exercises in the Agadir desert, where Moroccan operators participated in mission planning, classroom EW/cyber instruction and live-field execution alongside American troops using drone-mounted jammers and portable counter-UAS kits. The two countries also signed a joint military work plan for 2026 during the third session of the Joint Military Committee in Tel Aviv in early January, marking deeper year-round cooperation five years after the Abraham Accords restored diplomatic ties. Outlook Washington has taken a concrete step to institutionalize Morocco’s role by announcing plans to establish Africa’s first dedicated drone training center in Morocco, with African Lion 2026 exercises slated as an initial proving ground before scaling the facility into an AFRICOM-backed regional node. The dual-track model of Israeli loitering munitions for tactical precision and Turkish heavy-strike drones for persistent overwatch, combined with local production and training, gives Rabat operational redundancy and export potential across Africa. Observers say this model stands in contrast with regional competitors: Ayoub noted Algeria’s $25 billion annual defense outlay is still largely focused on Russian legacy platforms, while Morocco has prioritized interoperability, technology transfer and domestic industrial capacity. --- ## Riyadh Air: Saudi Vision 2030's New Global Aviation Standard URL: https://startupsmena.com/riyadh-air-saudi-vision-2030s-new-global-aviation-standard-mo4cvg99 Date: 2026-04-18 Category: tech Tags: **Summary:** Innovation in Air Travel: Riyadh Air exemplifies Saudi Arabia’s push towards innovation in the travel sector. For industry stakeholders, this signals a trend towards more technologically advanced and Riyadh Air is positioning itself as a new global benchmark in aviation aligned with Saudi Vision 2030, traveltrade.today reported on April 18, 2026. The carrier — part of a broader national push to diversify the economy and modernize transport — is being framed in industry coverage as a model of a technologically advanced, customer-centric airline that could reshape long-haul connectivity and stimulate ancillary sectors such as travel tech and startup partnerships. "Riyadh Air: Revolutionizing Aviation for Africa’s Growth," traveltrade.today headlined, reflecting the carrier’s stated ambitions to expand routes and engagement with emerging markets, particularly across Africa, where improved air links are widely viewed as a lever for trade and tourism development. Riyadh Air’s emergence is appearing alongside a flurry of regional and global aviation developments noted in the same briefing: established carriers such as Emirates and Qatar are balancing full premium cabins with empty economy sectors; Flydubai is adjusting services in the EX-YU market; and technology vendors including Amadeus are being named in ongoing industry liability and fraud discussions alongside firms like Riskified and Outpayce. The breadth of items listed on April 18 underscores how Riyadh Air enters a competitive, tech-forward marketplace where distribution, payments, fraud mitigation and yield management converge. For airline stakeholders and travel startups, Riyadh Air’s profile signals several concrete commercial opportunities. Industry listings on traveltrade.today highlight topics that will overlap with Riyadh Air’s roll-out: Phocuswright panels on regulation and data, Amadeus-led distribution conversations, and greater emphasis on AI and digital platforms in corporate and leisure travel. The same roundup also referenced Ariane Gorin in context of PhocusWire coverage, pointing to the relevance of executive-level leadership in shaping carrier and distribution strategy. What Riyadh Air means for partners and investors Digital and payments startups — enterprises such as Riskified and Outpayce figure in the industry dialogue on fraud and liability — could be targeted for partnerships to secure bookings and reduce chargeback risk. Distribution players like Amadeus and OTA channels will matter as Riyadh Air scales interline and NDC-enabled offerings noted in recent Phocuswright reporting. Route development toward Africa and other underserved regions creates opportunity for regional OTAs and local tourism stakeholders to negotiate joint marketing and capacity arrangements. Outlook: Riyadh Air’s public positioning on April 18 places it at the intersection of aviation network growth and travel-technology adoption. As the airline moves from brand-building to route launches and commercial partnerships, market participants will watch how it integrates advanced distribution, fraud controls and customer-experience technologies referenced across the industry briefing. For investors and startup founders in the MENA travel ecosystem, the practical test will be how quickly Riyadh Air converts strategic ambitions into procurement, route commitments and platform integrations that generate measurable revenue and passenger volumes. --- ## FINTECH.TV Receives Official UAE Broadcasting License, Establishing Permanent Television Presence Across The United Arab Emirates URL: https://startupsmena.com/fintechtv-receives-official-uae-broadcasting-license-establishing-permanent-television-presence-acro-mo48orvi Date: 2026-04-18 Category: tech Tags: **Summary:** License issued by the UAE National Media Authority grants FINTECH.TV FZ-LLC the right to establish and operate a streaming platform across the United Arab Emirates, with studios launching in Dubai and FINTECH.TV has been granted an official Radio and TV Broadcasting License by the UAE National Media Authority, authorizing FINTECH.TV FZ-LLC to establish and operate a streaming platform across the United Arab Emirates. Issued through Dubai Media City, the license — disclosed in a press release dated April 16, 2026 — establishes a permanent licensed broadcast presence for the global financial media network and paves the way for studios launching in both Dubai and Abu Dhabi that will anchor its MENA operations. "This license is a reflection of our commitment to the UAE and to the region," said Troy McGuire, Co-Founder and Head of Global Content and Operations at FINTECH.TV. "We are building a 24/7 streaming channel focused on the future of finance, and the UAE is one of the most compelling stories in the world right now. Our viewers in the United States will see, every single day, the extraordinary financial infrastructure being built here and understand why companies from every corner of the world are choosing to set up business in the UAE. We are a pro-business platform, and we cannot wait to start telling these stories." Details and strategic intent The license authorizes FINTECH.TV FZ-LLC to operate a streaming platform across the UAE and positions the network to deliver live financial programming that connects the region's markets to Wall Street and to FINTECH.TV 's global audience. The company said the Dubai and Abu Dhabi studios will “serve as the anchor of its MENA broadcast operation,” and that the new authorization marks “a defining milestone in FINTECH.TV 's global expansion.” Issuing authority: UAE National Media Authority Local registration/route: License issued through Dubai Media City Declared studio locations: Dubai and Abu Dhabi Press release date: April 16, 2026 (NEW YORK, NY and DUBAI, UAE via ACCESS Newswire) Founder and CEO Vince Molinari framed the move as strategic for international financial coverage. "The UAE is not just a market, it is where the future of finance is being built in real time," he said. "The regulatory clarity around digital assets, the sovereign commitment to blockchain and AI, and the concentration of institutional capital that has moved into Dubai and Abu Dhabi make the UAE the most important international market we could be in. Receiving this license is a statement about where global finance is heading and about FINTECH.TV 's role in covering it." FINTECH Media Group — the parent company that owns FINTECH.TV and Breakout — said the network already broadcasts from studios at the New York Stock Exchange and announced Dubai and Abu Dhabi additions as part of a broader international footprint. Breakout, described in the release, is a real-time social audio and messaging platform with users in over 24 countries. Outlook FINTECH.TV said launch dates and programming details for the Dubai and Abu Dhabi studios will be announced in the coming weeks, with a planned morning program intended to link U.S. and MENA markets. For broadcast partnership and sponsorship inquiries the company provided an industry contact at partnerships@fintech.tv. The company positions the UAE presence as a central element in its plan to operate a 24/7 streaming channel focused on finance, blockchain, AI and sustainability investing across global markets. --- ## This Khosla-backed autonomous pod startup just raised $170M — now it’s aiming for more URL: https://startupsmena.com/this-khosla-backed-autonomous-pod-startup-just-raised-170m-now-its-aiming-for-more-e-ink-news-daily-mo48k67l Date: 2026-04-18 Category: tech Tags: **Summary:** Glydways, an autonomous pod startup backed by Khosla Ventures, has raised $170M in Series C funding and is reportedly seeking an additional $250M to reach unicorn status. The company develops personal Glydways, an autonomous pod startup backed by Khosla Ventures, has closed a $170 million Series C round and is reportedly seeking an additional $250 million to push the company to unicorn status, according to reporting by TechCrunch. The company builds personal, autonomous pods that run on narrow, dedicated lanes and says its system can move up to 10,000 people per hour while cutting infrastructure costs by 90% compared with conventional rail. Direct quote "move 10,000 people per hour while reducing infrastructure costs by 90% compared to rail," Glydways said, according to the TechCrunch report by Kirsten Korosec published April 16, 2026. Context and details Glydways' approach is part of a broader shift in autonomous-vehicle development toward specialized mobility systems rather than traditional self-driving cars. The startup’s concept centers on lightweight, electric pods that operate in segregated, narrowly engineered lanes—designed to deliver mass-mobility throughput while minimizing the civil-engineering footprint needed for installation. The $170 million Series C, coupled with the reported pursuit of another $250 million, reflects investor interest in alternative urban transit solutions that promise lower capital expenditure compared with heavy rail. Khosla Ventures is named as a backer of Glydways; the company’s funding strategy now appears aimed at scaling pilots into commercial deployments. Funding: $170 million raised in Series C; reportedly seeking an additional $250 million Capacity claim: up to 10,000 people per hour Infrastructure savings: claims of 90% lower cost vs rail Pilot locations: Atlanta, New York City and the UAE planned for this year Scale target: large-scale operations planned by 2027 TechCrunch’s coverage, written by Kirsten Korosec and published on April 16, 2026, notes that Glydways plans pilot programs in Atlanta, New York City and the UAE during the current year, with an eye toward expanding to large-scale operations by 2027. The pilots will be a critical proving ground for the company’s capacity and cost-saving assertions as it seeks the additional capital reportedly required to reach a unicorn valuation. Outlook The next 12–24 months will be pivotal for Glydways. Securing the additional $250 million would move the startup closer to unicorn status and provide the funds necessary to transition from pilots to broader deployments. The company’s claims—10,000 passengers per hour and 90% lower infrastructure costs—will be closely scrutinized as pilots in Atlanta, NYC and the UAE begin. If the figures hold up in real-world operations, Glydways could present a compelling alternative to traditional mass transit projects; if not, the firm will face intensified scrutiny from investors and city planners weighing the risks of novel mobility infrastructure. --- ## Saudi Rail Launches Five Logistics Routes for Trade Growth URL: https://startupsmena.com/saudi-rail-launches-five-logistics-routes-for-trade-growth-mo447810 Date: 2026-04-18 Category: tech Tags: **Summary:** Saudi Arabia Railways has introduced five logistics routes linking Arabian Gulf ports to central and northern Saudi Arabia, strengthening global trade ties. Saudi Arabia Railways (SAR) has launched five new logistics routes within its freight operations to connect Arabian Gulf ports with central and northern Saudi Arabia, while extending links toward Red Sea ports and northern regions. The multi-modal corridors, which combine rail and road infrastructure, form an integrated logistics framework designed to improve cargo flow, reduce transit times and bolster the objectives of the National Transport and Logistics Strategy and Saudi Vision 2030. SAR’s CEO Bashar Al-Malik said: "the rapid development witnessed in the railway sector comes with the support and attention of the wise leadership and under the follow-up of the Minister of Transport and Logistics Services and Chairman of SAR’s Board of Directors, Saleh Al-Jasser, who attaches great importance to this sector for its role as an enabler of various national sectors." Details of the new routes and operations The five logistics routes create a coordinated network that links Arabian Gulf ports with inland hubs and northern gateways, while providing connectivity toward the Red Sea. Operations are coordinated through an integrated system that includes the Riyadh Dry Port and SAR freight yards in Dammam, Jubail, Ras Al-Khair, Al-Kharj, Hail and Qurayyat. By enabling smoother transitions between rail and road, the initiative aims to streamline cargo movement and ensure more reliable handling across different corridors. Coverage: Arabian Gulf ports to central and northern Saudi Arabia, extending toward Red Sea ports and northern regions. Infrastructure: Multi-modal integration of rail and road, coordinated through Riyadh Dry Port and SAR freight yards in Dammam, Jubail, Ras Al-Khair, Al-Kharj, Hail and Qurayyat. Customers: Major industrial companies, mining firms and the largest maritime shipping lines. Cargo types: Designed to handle diverse cargo, with specific reinforcement for key industries such as petrochemicals and mining. SAR describes the corridors as part of an "integrated package of logistics solutions" intended to improve supply chain efficiency and reliability under various conditions. The routes are positioned to support exports and imports and to offer transit solutions for regional markets, serving both national supply chain resilience and international trade flows. Outlook Officials expect the new logistics network to deliver tangible operational and sustainability benefits: cutting thousands of truck journeys, improving road safety and lowering carbon emissions. The corridors are intended to strengthen Saudi Arabia’s role in global trade flows by improving transit times and operational performance for shippers and logistics providers. Aligned with the National Transport and Logistics Strategy and Saudi Vision 2030, SAR’s roll-out of these routes signals a continued emphasis on modal integration and logistics capacity-building under the oversight of the Minister of Transport and Logistics Services and SAR’s board leadership. The initiative provides a platform for greater coordination with relevant authorities and industry partners as the Kingdom advances its ambitions to become a regional logistics hub. --- ## War or peace, Gulf wealth funds keep investing URL: https://startupsmena.com/war-or-peace-gulf-wealth-funds-keep-investing-semafor-mo3zzc4k Date: 2026-04-18 Category: tech Tags: **Summary:** Recent transactions — including ... Electronic Arts, and Paramount Global — suggest Gulf investors aren’t pulling back from previous commitments. Private capital is also being deployed. Last month, co Gulf sovereign wealth funds kept deploying capital in Q1 despite the war, data show Gulf sovereign wealth funds maintained deal activity in the first quarter even as nearly a third of the period took place during the war, with Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi-based Mubadala and the Qatar Investment Authority together committing almost $25 billion in new investments, according to data from consultancy Global SWF reviewed by Semafor. “We may see funds … act opportunistically, identifying bargains in certain geographies and segments,” Diego López, founder and managing director of Global SWF, said, adding that Saudi Arabia’s PIF did that during the pandemic and “we now see Mubadala as a well positioned SWF to take advantage of the market dislocation.” The resilience of Gulf capital reflects the sheer scale of the region’s war chests: the largest sovereign funds in Kuwait, Qatar, Saudi Arabia and the UAE currently hold about $5 trillion in assets, a pool Global SWF expects to grow to almost $18 trillion by 2050. Still, analysts warn the pace of overseas deployment could slow if the conflict persists, as funds are increasingly asked to support domestic priorities. Global SWF data show that almost 60 percent of Gulf sovereign funds’ foreign investments over the past five years have flowed into financial services, infrastructure and technology, with the United States taking a growing share. Recent transactions indicate investors are not abandoning prior commitments: Gulf-linked capital has been tied to deals involving OpenAI and Anthropic, and to investments in companies such as Electronic Arts and Paramount Global. Companies linked to Abu Dhabi Deputy Ruler Sheikh Tahnoon bin Zayed Al Nahyan joined a funding round for the fitness band startup Whoop, which has a reported $10 billion valuation. Those same interests agreed to buy Oklahoma-based Traverse Midstream Partners for $2.25 billion. A Sheikh Tahnoon-led firm bought a majority stake in a UK hospitality group reportedly valued at more than £1 billion ($1.3 billion), including The Ivy and private members’ club Annabel’s. Observers say funds could also redirect capital to shore up industries hit by the conflict. López noted that some sovereign investors — including the Abu Dhabi Investment Authority and the Kuwait Investment Authority — might be tapped to support government budgets and slow private-market investments. He pointed to potential support for aviation and domestic military companies such as EDGE in the UAE, and SAMI, SAFE and Barzan in Saudi Arabia and Qatar. Economic forecasts underscore the pressures facing the region. The World Bank now expects Gulf growth to slow to 1.3 percent this year from 4.4 percent in 2025; Gulf officials have estimated tourism losses of as much as $32 billion, and the World Bank expects the Kuwaiti and Qatari economies to contract by more than 5 percent. Looking ahead, experts see two likely paths. Some funds may slow allocation decisions as governments prioritize defense, stimulus and reconstruction — a scenario Karen E. Young, senior research scholar at Columbia University’s Center for Global Energy Policy, summarises by warning sovereign wealth funds may “take longer to make allocation decisions.” Others, López said, could move opportunistically to buy distressed assets if market dislocations deepen, suggesting the flow of Gulf capital into major global markets will adapt rather than stop. --- ## Retail investors from Gulf and beyond target region's stocks URL: https://startupsmena.com/retail-investors-from-gulf-and-beyond-target-regions-stocks-agbi-mo407tv9 Date: 2026-04-18 Category: tech Tags: **Summary:** Retail investor interest in Gulf stock markets is increasing, reflecting a broader trend of sports betting culture spilling into equities Retail investor interest in Gulf stock markets has risen sharply, driven by a widening appetite for UAE and Saudi equities among global retail traders, according to eToro and regional market participants. Israel’s eToro, which manages about $17.6 billion in funds under administration and serves nearly four million customers worldwide, now offers roughly 60 Dubai-, Abu Dhabi- and Riyadh-listed stocks on its platform. The surge in demand has come amid heightened bourse volatility since the start of the Iran war, where "precipitous declines and sharp rebounds" have provided both opportunity and risk for short-term traders. "This is not isolated interest in one or two names, but a broad-based rise in demand across UAE and Gulf equities, meaning they are increasingly becoming a core part of global retail investors’ international portfolios," said Sam North, a market analyst at eToro. Platform data and market patterns eToro's client data show substantial increases in ownership of several Gulf-listed shares over the past six months. The number of users holding Aldar, Emaar Properties and Emaar Development shares has surged in the range of 90–137 percent — among the largest percentage increases across the platform. Saudi Aramco remains the most widely held Gulf stock on eToro, while Dubai companies occupy the second through sixth places in the Gulf top ten: Emaar Properties, road toll operator Salik, Dubai Electricity and Water Authority (Dewa), Emaar Development and Emirates NBD. eToro: ~$17.6 billion under administration; nearly 4 million customers ~60 Gulf-listed stocks available on eToro Aldar, Emaar Properties, Emaar Development: user ownership up 90–137% in six months Short selling of Gulf stocks is not available on eToro Saudi individual investors: 50% of bourse turnover in the 15 months to March 31; net sellers of $2.7bn of Riyadh-listed stocks in that period Individuals accounted for 29% of trading activity on the Dubai Financial Market in 2025 North said the interest is not merely momentum chasing but reflects sectoral narratives: "Oil continues to attract interest through giants like Saudi Aramco, while real estate has emerged as a major growth theme in the UAE. Utilities and banks also remain popular because they offer the kind of earnings resilience, dividend potential and defensive characteristics that many investors are looking for." At the same time, eToro customers cannot short Gulf stocks on the platform, limiting hedging options for retail traders. But some market veterans warn of structural shifts in trading behaviour that carry risks. "The way they trade isn’t based on company fundamentals or economic research, it’s momentum driven," said Ryan Lemand, founder and chief executive of Abu Dhabi’s Neovision Wealth Management. "Retail investors go to Reddit, collectively decide on what they’re going to do, and they act almost like a very large institutional client in terms of their buying power. So, they drive stocks up and down." Outlook With retail engagement rising, Gulf markets face a mixed outlook: deeper international retail participation can boost liquidity and diversify holders, yet it may also increase sensitivity to global sentiment swings and momentum-driven flows. How institutional investors, regulators and retail platforms respond to elevated volatility—and whether retail demand proves sustained beyond short-term momentum—will shape market dynamics across the Gulf into the rest of 2026. --- ## MoneyFEST 2026: Connecting Gulf Coast Entrepreneurs with the Funding They Need to Grow URL: https://startupsmena.com/moneyfest-2026-connecting-gulf-coast-entrepreneurs-with-the-funding-they-need-to-grow-the-business-v-mo40ax28 Date: 2026-04-18 Category: tech Tags: **Summary:** Mobile, AL – Want to start or grow a business but not sure how to fund it? Innovation Portal proudly announces the return of MoneyFEST on May 7, 2026. Now in its fourth year, this free, full-day event Mobile, AL — Innovation Portal will host MoneyFEST 2026 on May 7, 2026, a free, full-day event in its fourth year designed to connect Gulf Coast entrepreneurs with diverse sources of capital. The event aims to bridge the gap between founders and funding by bringing together lenders, investors and grant experts across bank lending, angel investment, grants, pitch competitions and bootstrapping strategies. Presenting sponsors Merchants Marine Bank and Voyager Lending have made the event free to the community. "Access to capital remains one of the biggest obstacles for entrepreneurs in our region," said Todd Greer, Executive Director of Innovation Portal. "MoneyFEST creates a space where business owners can not only learn about funding options, but actually connect with the people and organizations who can help turn their business ideas into reality." Event details and speakers Organizers say the program will feature speakers with experience on both sides of the funding table. Gia Wiggins, a Mobile entrepreneur and Innovation Portal board member who recently closed a $2 million seed round with participation from Halogen Ventures, Innovate Alabama and Techstars, will share firsthand lessons about raising capital as a Gulf Coast founder. She will be joined by JD Jernigan, a multi-time founder who now leads gBETA Gulf Coast — a collaboration between Innovation Portal and gener8tor — and Mary Wallace Hannon of Regions Foundation. Regions Foundation has awarded more than 400 grants totaling over $36 million to organizations across the region since 2018. Participants can expect expert-led sessions grouped into three specialized tracks — Lending, Investment, and Social Impact Nonprofit — along with practical breakout workshops and structured networking. Innovation Portal describes Capital Conversations as one-on-one time with actual lenders and investors, intended to give entrepreneurs candid, actionable feedback in a no-pressure setting. Program highlights Three specialized tracks: Lending, Investment, and Social Impact Nonprofit Breakout sessions on business credit, financial preparation, pitch strategy and grant writing Real-world funding stories from Gulf Coast entrepreneurs Capital Conversations — structured one-on-one meetings with lenders and investors Networking opportunities and a closing happy hour Innovation Portal describes itself as a nonprofit incubator and innovation hub that accelerates startup growth across southwest Alabama and the central Gulf Coast, offering workspace and a community for entrepreneurs, innovators and creatives. Additional speakers for MoneyFEST 2026 will be announced at innovationport.al/moneyfest. Outlook By packaging practical workshops, peer stories and direct access to capital providers into a single day, MoneyFEST aims to reduce informational and logistical barriers that founders face when seeking funding. Organizers encourage entrepreneurs to reserve a spot in advance at innovationport.al/moneyfest. For inquiries, contact Nick Hampton, Program Director, at programs@innovation-portal.com or 251-202-7165. --- ## Startup Grind Doha tackles mental health gap for founders URL: https://startupsmena.com/startup-grind-doha-tackles-mental-health-gap-for-founders-gulf-times-mo404tg2 Date: 2026-04-18 Category: tech Tags: **Summary:** Qatar’s startup founders are often under intense pressure to deliver, yet the mental and emotional dimensions of that journey remain largely unaddressed, ac... On April 17, 2026, Startup Grind Doha hosted a virtual session titled “The Inner Game of Building a Startup: How to Lead and Perform with Clarity, Composure and Conviction” to address an often-overlooked dimension of entrepreneurship in Qatar: founder mental health. The session, organised by Startup Grind Doha in collaboration with Startup Grind chapters from the UK, Singapore, Bangkok, Tunis, Muscat, Dubai and Manila, brought together founders based in Qatar and across those regions to explore the psychological and emotional demands of founding and scaling companies. “Through Startup Grind Doha, we aim to address the gaps that matter most for founders. While they are constantly under pressure to perform, the mental and emotional side of the journey is often overlooked,” said Indica Amarasinghe, chapter director of Startup Grind Doha. “By bringing conversations like this to the forefront, we’re adding real value to the community – helping founders not just build better companies, but sustain high performance over the long term.” Context and session takeaways The session was led by Lorna Devine, a UK-trained psychologist and cognitive behavioural therapy (CBT) therapist, who framed founder wellbeing as a performance issue as much as a personal one. According to Devine, most founders are navigating daily pressures — pitching to investors, developing products and managing teams — while privately carrying stress, self-doubt and expectations that seldom surface in public forums. Organisers and the speaker drew a parallel between professional athletes and founders, arguing that mental fitness should be trained alongside operational and technical capabilities. The event emphasised that mindset affects decision-making, leadership and team dynamics, and that high-achieving founders often bear intense internal pressure even when they appear composed externally. Mindset mastery begins with awareness: founders were encouraged to monitor and challenge unhelpful thought patterns, reframing them to reduce emotional and physiological stress. Practical, evidence-based tools: Devine shared CBT-informed techniques and real-time interventions to manage stress and improve clarity under pressure. Long-term performance foundations: self-awareness, self-regulation, an identity beyond the company and a clear sense of purpose were highlighted as core to sustained resilience. Q&A focus areas: participants discussed procrastination, energy management at networking events, the science behind breathing and mindfulness exercises, and maintaining resilience when facing others’ expectations. Outlook Startup Grind Doha’s initiative reflects a growing appetite among founder communities for structured conversations on psychological wellbeing, not just tactical growth strategies. By convening an international audience and offering CBT-informed tools, the event aimed to normalise mental health as a routine part of founder development. Organisers signalled intent to continue such programming, positioning mental fitness as integral to sustaining high performance across the life cycle of startups. --- ## Gulf likely to be all in on SpaceX IPO URL: https://startupsmena.com/gulf-likely-to-be-all-in-on-spacex-ipo-agbi-mo401x5j Date: 2026-04-18 Category: tech Tags: **Summary:** Gulf stakeholders are already embedded in Elon Musk’s advanced-technology empire, spanning satellite communication company Starlink and AI chatbot Grok, among other ventures. Humain, the artificial in The Gulf is poised to back Elon Musk’s planned SpaceX initial public offering on a large scale, drawn by the company’s combination of launch, satellite and artificial intelligence assets and an IPO that is targeting a $1.75 trillion valuation, industry sources and analysts told AGBI. SpaceX filed for a US listing earlier this month, is planning a June roadshow and aims to raise about $75 billion, Reuters reported — a float that Gulf sovereign wealth funds and regional investors are already lining up to join. Direct quote “I think everyone is going to want to get in on this,” said Natasha Ahmed, a Washington-based managing director of investment network Cosmic Funds and senior adviser at Trends, a risk consultancy focused on US-Middle East relationships. Ahmed added: “Saudi Arabia wants to double down on the work it is doing with xAI… and will really consider being an anchor investor because it already holds so many shares and it’s going to get in at the pre-IPO price. If the valuation drives up, it’s a smart financial decision.” Context and details Gulf stakeholders are already woven into Musk’s broader technology empire. SpaceX merged with xAI in early February, bringing together rocket and satellite programmes with AI work that had attracted Gulf capital. Humain, the Saudi Public Investment Fund’s (PIF) artificial intelligence company, invested $3 billion in xAI during a January Series E round; Humain described the deal as making it a “significant” minority shareholder in xAI and said its holdings converted into SpaceX shares after the merger. Sources told Reuters and AGBI that PIF is in talks to make an additional $5 billion “anchor” investment in the SpaceX IPO. Anchor investments by major institutional players are commonly used to instil confidence in large new listings. Other Gulf investors in xAI and SpaceX include Kingdom Holding, the Qatar Investment Authority and the Oman Investment Authority, which participated in an xAI Series C round in December 2024. Abu Dhabi-listed International Holding Company and Alpha Dhabi Holding each invested $25 million into SpaceX in June 2022. UAE advanced technology investor MGX also took part in xAI’s latest funding round in January. Analysts and regional advisers point to strategic as well as financial motives. Anna Hazlett, founder and CEO of UAE investment and advisory company AzurX, said there is “significant alignment between SpaceX’s capabilities and what the Gulf is trying to achieve.” She added: “The rollout of Starlink, for example, is particularly relevant – connectivity, resilience and digital infrastructure are all key themes across the Gulf, and low Earth orbit constellations are increasingly seen as foundational to that.” Outlook Analysts caution that geopolitical tensions, notably the Iran conflict, will sharpen Gulf interest in space for dual-use and defence applications even as the region balances risk and returns. Ahmed warned it is “a balancing act,” suggesting Gulf sovereigns may favour established, strategic assets over earlier-stage plays for now. At the same time, the scale of the proposed SpaceX float — and its plan to use proceeds to deploy “upwards of 1 million data centres bearing satellites” to increase off‑earth compute capacity, according to SpaceX’s IPO filing — could absorb substantial regional capital, reshaping how Gulf investors allocate across domestic and international tech opportunities. --- ## From Silicon Valley to Exploring Morocco’s Path to a Scalable Venture Ecosystem URL: https://startupsmena.com/from-silicon-valley-to-exploring-moroccos-path-to-a-scalable-venture-ecosystem-mo3zwgby Date: 2026-04-18 Category: tech Tags: **Summary:** Technopark Casablanca hosted today a conversation with Professor Matt Glickman, Fulbright Specialist and faculty member at Stanford Graduate School of Business, who shared insights from Silicon Valley Technopark Casablanca hosted a high-profile conversation today with Professor Matt Glickman, a Fulbright Specialist and faculty member at Stanford Graduate School of Business, focused on translating Silicon Valley lessons into a scalable venture ecosystem in Morocco. Held under the theme “Bridging Morocco and Silicon Valley: Building the Next Global Hub for Scalable Ventures,” the event was organised in partnership with The Moroccan-American Commission for Educational and Cultural Exchange (MACECE), THE FORGE and Technopark Morocco and brought together ecosystem leaders, founders, investors and students. Speakers included US Consul General Marissa Scott, Technopark Director Lamia Benmakhlouf, UM6P Ventures CEO Yassine Laghzioui and MACECE Executive Director Dr. Rebecca Geffner. “The goal here is an opportunity to see not only how Morocco and the U.S. can continue to work together, but really how this is the next Silicon Valley right here in Morocco,” US Consul General Marissa Scott told Morocco World News at the event. Context and key takeaways from the discussion Glickman framed his remarks around the idea that Silicon Valley’s experience can inform other regions, but cannot be copied wholesale. “What happens in Silicon Valley can partly be translated to other regions, but every region is unique, and I’m excited to learn and pleasantly surprised to see the level of entrepreneurial activity and support,” he said. He highlighted Morocco’s long-term institutional commitments — citing Technopark’s 25-year development and national strategies such as Digital Morocco 2030 — as foundational elements that distinguish Morocco from ecosystems relying solely on recent momentum. Speakers and organisers emphasised practical, execution-focused advice for founders. Glickman urged entrepreneurs to concentrate on the venture they can control: execution, product-market fit and customer needs. He warned that technology by itself does not guarantee success unless it is grounded in real customer demand — a challenge he noted persists even in Silicon Valley. He also stressed that strong ecosystems emerge from coordinated efforts among universities, government programmes, entrepreneurs, the private sector and venture capital, rather than from a single dominant driver. Event partners: MACECE, THE FORGE, Technopark Morocco. Panel voices: Marissa Scott, Lamia Benmakhlouf, Yassine Laghzioui, Dr. Rebecca Geffner, Fay Cowper. Sector opportunities noted: mining, agriculture, and electric vehicles; Morocco’s geographic position as a bridge to Africa, Europe, the United States and the Middle East. On the sidelines, Fay Cowper, Head of Platform at THE FORGE, pointed to recent activity and momentum in Morocco’s entrepreneurship landscape, linking the conversation to events such as GITEX. “This is a really great opportunity to bring everyone together, especially after an event like GITEX that we had last week, along with the other new developments that we’ve had in the entrepreneurship ecosystem here in Morocco,” she told Morocco World News. Outlook Dr. Rebecca B. Geffner framed the visit as part of Fulbright’s broader role in connecting people and ecosystems: “We’ve funded Professor Matt Glickman... to come to Morocco to talk about entrepreneurial ecosystems. And for us, the Fulbright Program is not only about facilitating academic exchanges, but also connecting ecosystems,” she said, adding that Fulbright links “ideas to execution, local talent to global networks.” Speakers concluded that Morocco’s path will likely be iterative — built through experimentation, setbacks and incremental learning — and that leveraging local strengths across sectors could position the country as a hub that bridges markets. The conversation underlined continuing collaboration between educational exchange programmes, accelerators and public institutions as Morocco seeks to scale its venture ecosystem. --- ## Italian group Novation Tech opens first African production site in Monastir URL: https://startupsmena.com/italian-group-novation-tech-opens-first-african-production-site-in-monastir-african-manager-mo3w20d2 Date: 2026-04-18 Category: tech Tags: **Summary:** Novation Tech, the Italian group specializing in composites and carbon fiber transformation for the automotive industry, has inaugurated its first production facility in Tunisia, marking the company’s Novation Tech, the Italian group specialising in composites and carbon fibre transformation for the automotive industry, has inaugurated its first African production facility in Sahline, within the Neopark technopole in Monastir governorate. The move, formalised at an inauguration ceremony on April 15, 2026, marks the group's debut industrial presence on the African continent and follows a planned investment of €22 million over four years, with a first phase of approximately €7 million launched in 2024 to cover infrastructure setup and the start of production. "The quality of Tunisian human capital, geographic proximity to Europe, and Tunisia’s strategic position as a 'natural bridge between Europe and Africa,'" said Italian Ambassador to Tunisia Alessandro Prunas, highlighting the factors that helped secure the project. Context and details The new Monastir facility will focus on the production of automotive components made from composite materials, positioning itself in a high-value-added segment of European industrial supply chains where material lightness and performance are critical. Novation Tech has built its reputation on processing composites and carbon fibre not only for automotive clients but also for other technical sectors such as aerospace, sports and industrial equipment. Location: Sahline, Neopark technopole, Monastir governorate, Tunisia. Investment: Total estimated at €22 million over four years; first phase ~€7 million launched in 2024. Inauguration: April 15, 2026. Focus: Composite-material automotive components and other high-performance technical applications. Until the Monastir opening, Novation Tech's industrial footprint was predominantly European, with sites in Italy, Hungary and Croatia, alongside its main headquarters in Italy. The company has pursued a strategy of proximity to European markets and optimisation of production capacity; establishing the Tunisian plant is described by the group as a step to diversify manufacturing bases while bringing part of its production closer to Europe. Outlook Novation Tech said the Tunisian plant will strengthen its production capacity to meet growing demand for composite materials in the automotive industry and help optimise logistics costs through Tunisia's geographic proximity to Europe. The project’s phased investment profile — beginning with the roughly €7 million infrastructure and start-up phase in 2024 — signals a gradual ramp-up intended to integrate the new unit into existing European supply chains. For Tunisia, the arrival of Novation Tech adds another specialised manufacturer to the Neopark technopole, reinforcing the country’s appeal to firms seeking lower-cost, strategically located production close to European customers and access to skilled technical labour. The Monastir site represents an explicit example of a European supplier relocating specific high-value-added manufacturing operations to North Africa while maintaining strategic ties to European markets. --- ## How Tunisian-born Clusterlab is Making Voice AI Smarter for the Region URL: https://startupsmena.com/how-tunisian-born-clusterlab-is-making-voice-ai-smarter-for-the-region-entrepreneur-middle-east-entr-mo3vvho8 Date: 2026-04-18 Category: saas Tags: voice AI, Arabic dialects, contact center, Y Combinator, UAE, Tunisia **Summary:** Clusterlab, a Tunisian-born startup headquartered in Dubai, builds Callab.ai — voice AI agents tailored to Arabic dialects and legacy telephony — and was admitted to Y Combinator's P26 seed batch. The company targets contact-centre automation across industries in the Middle East. Tunisian-born, UAE-headquartered startup Clusterlab is aiming to close a major gap in regional voice artificial intelligence with its product Callab.ai. Founded in 2020 by CEO Haithem Kchaou and CTO Chehir Dhaouadi, the Dubai-based company builds voice AI agents tailored to Arabic and its regional dialects while integrating with legacy telephony systems. Clusterlab’s acceptance into Y Combinator’s P26 batch — the seed-stage accelerator known for alumni such as Airbnb and Stripe — marks a significant credibility boost as the firm scales its contact-centre automation across industries. Industry research underlines the opportunity: a 2024 Gartner report projects that at least 70% of customer service journeys will begin and be resolved through conversational GenAI or third-party assistants by 2028. “The global AI industry was building in English, for Western users, on Western data, and the Middle East was expected to adapt,” Kchaou explains. “We wanted to build the opposite, AI designed from day one for the languages, dialects, and infrastructure of our region.” How Callab.ai works Callab.ai is presented as a voice AI agent that can answer calls, understand callers in their own language and dialect, and either resolve requests end-to-end or transfer them to human agents with full context preserved. Kchaou cites an early project, Elm — an AI-powered library developed for Tunisia’s Ministry of Higher Education — as a test case that exposed how global AI tools often fall short outside Western markets. That experience informed Clusterlab’s strategy to prioritise three core gaps: language, data and infrastructure. “Callab.ai was built from the integration layer upward. We started with the hardest part, native compatibility with the telephony stacks enterprises already operate, and then built the AI capabilities on top of that foundation,” Kchaou explains, noting that typical contact centres in the region still run on platforms such as Cisco Unified Communications Manager (CUCM) or legacy Private Branch Exchange (PBX) systems. Founders: Haithem Kchaou (CEO) and Chehir Dhaouadi (CTO) Founded: 2020; HQ: Dubai, UAE Product: Callab.ai — multilingual voice AI with emphasis on Arabic dialects Notable project: Elm for Tunisia’s Ministry of Higher Education Y Combinator: Admitted to P26 batch; described as the first company with Tunisian roots in YC’s history by Kchaou Clusterlab positions Callab.ai as a 24/7 voice agent across sectors including real estate, healthcare, hospitality, retail and debt collection. The system handles routine tasks such as scheduling, reminders and basic inquiries, with CTO Chehir Dhaouadi emphasising user experience: “No hold music, no IVR menu maze, and a conversation that feels natural rather than scripted.” Kchaou says the YC programme — a three-month accelerator — is expected to help the company sharpen product-market fit and access longer-horizon capital needed for deep-tech infrastructure. “Being accepted into YC was, first and foremost, an additional confirmation that our region produces world-class solutions and world-class talent. We are proud to be among the small group of UAE-headquartered startups to join YC, and also the first company with Tunisian roots in YC’s history,” he shares. Looking ahead, Kchaou predicts rapid adoption of voice AI across the Middle East but stresses the region cannot simply import Western models. “What makes our region distinctive is that this transition cannot simply be a copy-paste of what is happening in the United States,” he clarifies, pointing to local data residency requirements, the diversity of Arabic dialects, and entrenched telephony infrastructure as constraints Callab.ai is built to address. --- ## Tunisia Startup World Cup Finalists Signal Strong Pipeline of Innovation and Growth - Catalysing Growth. Connecting Entrepreneurs. Transforming Africa. URL: https://startupsmena.com/tunisia-startup-world-cup-finalists-signal-strong-pipeline-of-innovation-and-growth-catalysing-growt-mo3vyy1z Date: 2026-04-18 Category: tech Tags: **Summary:** At a time when African startups ... like the Startup World Cup are playing an important role. They provide exposure, validate business models and help entrepreneurs scale faster. For Tunisia, this is Tunisia’s startup scene will be under the spotlight on April 23, 2026, when the Top 10 finalists for the Startup World Cup Tunisia Regional Finale present at Oya Hall, Radisson Blu Hotel in Tunis for a chance to represent the country at the global finale in San Francisco and pitch for a $1 million investment prize. The field spans health technology, artificial intelligence, mobility and digital services, and the programme is explicitly designed to connect founders with investors, industry experts and international opportunities. "The Top 10 finalists for the Startup World Cup Tunisia Regional Finale have been announced, bringing focus to some of the country’s most promising startups." Finalists and the problems they tackle Bionic Soul – Developing more affordable, personalised bionic prostheses through advanced design techniques and partnerships with hospitals and clinics to expand access to quality healthcare. DrugIT – Using artificial intelligence and machine learning to accelerate drug discovery, offering deeper insight into complex biological data to reduce time and cost to market for new treatments. E-Tafakna – A fully digital legal services platform for the MENA region that enables users to create, manage and sign contracts online and access AI-powered legal advice and digital onboarding. LR MOVE – Providing adapted transport services and personalised assistance for people with reduced mobility, improving access to healthcare, social activities and everyday services. Pixii Motors – Building a smart electric scooter integrating predictive maintenance and intelligent safety systems aimed at redefining urban mobility and supporting cleaner transportation. Pwn & Patch – Offering penetration testing, threat intelligence and red team operations to strengthen cybersecurity as digital adoption expands across businesses. SeekMake – A platform for local manufacturing that automates on-demand production, instant quoting and order management to help manufacturers scale and operate in a decentralized production environment. SupplyzPro – An AI-powered enterprise resource planning solution for small businesses that simplifies inventory, invoicing and reporting through chat-based tools and WhatsApp integration. THINKNEO – Advising businesses on digital transformation, strategic planning and organisational development with domain expertise in fintech and inclusion to boost performance and leadership. WaterSec by Istidema.com – Tackling water scarcity with IoT and AI-driven real-time monitoring of consumption to help users manage and reduce usage in a resource-constrained region. Context and significance The Tunisia Regional Finale is framed as more than a contest: organisers and coverage note the event’s role in strengthening the local innovation ecosystem by creating connections between startups, investors and ecosystem leaders. Exposure at the regional level can lead to partnerships, funding and critical feedback that helps founders refine business models and scale. For the winning team, the path to the San Francisco global finale offers both international visibility and access to the $1 million prize on offer at the world stage. With the session taking place at Radisson Blu’s Oya Hall, finalists will present to a panel of experts in a competitive setting where differentiation across technology, market fit and scalability will be decisive. As Tunisia seeks to showcase capabilities in healthtech, AI, mobility and digital services, organisers and participants alike are banking on the event to translate local innovation into broader regional and global opportunities. --- ## Iron Nation Launches $60M Fund as Israeli Startups Navigate Reserve Duty, Partners With Indiana URL: https://startupsmena.com/iron-nation-launches-60m-fund-as-israeli-startups-navigate-reserve-duty-partners-with-indiana-the-me-mo3vsd9u Date: 2026-04-18 Category: tech Tags: **Summary:** The initiative is designed to connect ... Israeli startups. The IEDC said the partnership will provide Israeli technology firms with opportunities to establish US headquarters and operations in Indian Iron Nation, an Israeli venture capital firm founded after the October 7 attacks, has launched a new $60 million fund aimed at helping startups navigate fundraising disruptions caused by widespread reserve duty call-ups. The firm is seeking to raise $60 million for the vehicle, with $50 million already secured, according to Calcalist. Separately, the Indiana Economic Development Corporation (IEDC) announced a parallel $60 million investment and commercialization initiative called Iron Nation-Indiana that will connect Israeli technology firms with Hoosier companies, universities, health systems and communities. Direct quote “Indiana is committed to competing and winning in the industries shaping the future,” Gov. Mike Braun said in a news release. “Iron Nation-Indiana reflects the kind of partnership we want to pursue — one that combines public leadership, private capital and real commercial opportunity to bring more investment, more innovation and more long-term value to our state.” Context and details Iron Nation’s new fund will focus on Israeli companies from Seed to Series B stages and has already invested in six startups, the firm said. The move responds to a specific challenge: many founders and employees have been called up as Israel Defense Forces reservists during ongoing military operations, complicating company operations and capital-raising efforts. Iron Nation’s track record includes an earlier $20.4 million fund that was deployed across 24 companies. That fund counted Illumex among its portfolio exits — Illumex was acquired by Nvidia in March 2026, less than two years after Iron Nation’s initial investment, a notable example of rapid exit velocity for the firm. The Iron Nation-Indiana initiative is structured as a $60 million investment and commercialization effort. Indiana will contribute $15 million from the Twenty-First Century Research Fund. The IEDC has raised $30 million from private sector partners and is seeking an additional $15 million to complete the funding, the agency said. Iron Nation target fund size: $60 million (with $50 million secured, per Calcalist) Prior Iron Nation fund: $20.4 million deployed across 24 companies Notable exit: Illumex acquired by Nvidia in March 2026 Iron Nation-Indiana initiative: $60 million total; Indiana committing $15 million from the Twenty-First Century Research Fund; $30 million raised from private partners; $15 million still sought The IEDC framed the partnership as a way to provide Israeli technology firms with opportunities to establish U.S. headquarters and operations in Indiana while building commercial relationships with local companies. The initiative is described as connecting Hoosier companies, health care systems, universities and communities with Israeli startups — a bid to translate inbound investment into on-the-ground industrial and academic ties. Outlook Iron Nation’s fund launch and the Iron Nation-Indiana partnership aim to offer practical support to Israeli startups experiencing operational strain from reserve duty and wartime mobilization. With $50 million already committed to the fund and state and private backing lining up in Indiana, the efforts could provide lifelines for early-stage companies seeking continuity and U.S. market entry. How quickly the remaining capital — the fund’s final $10 million and Indiana’s additional $15 million target — is secured will determine the immediate scale and operational reach of both initiatives as Israeli founders and staff contend with ongoing military service obligations. --- ## Ephrata school board discusses increasing funding for Lancaster-Lebanon Intermediate Unit 13 URL: https://startupsmena.com/ephrata-school-board-discusses-increasing-funding-for-lancaster-lebanon-intermediate-unit-13-news-la-mo3vpovj Date: 2026-04-18 Category: other Tags: education, funding, IU13, Ephrata, school board, extracurricular **Summary:** The Ephrata Area school board reviewed a proposed $1.031 million instructional media budget from Lancaster‑Lebanon IU13 — a 2.28% increase that would raise Ephrata’s share by $341 from $32,727 to $33,068. The board packet also proposed a new Board Game Club and the disbanding of the middle school Equestrian Club, with votes scheduled for April 27. Ephrata board committee reviews $1.031M instructional media budget for Lancaster-Lebanon IU13 At its April 13 committee meeting, the Ephrata Area school board discussed a proposed $1.031 million instructional media services budget from the Lancaster‑Lebanon Intermediate Unit 13 (IU13) that would represent a 2.28% increase in IU13 expenditures for the coming school year. Under the proposal, Ephrata’s share would rise by $341, from $32,727 to $33,068. "The board game club will help students stay connected with school in a positive way while also learning skills of collaboration, strategy, numeracy, and literacy," wrote adviser Penn Miller in the club application included in the district packet. The IU13 instructional media services budget covers a range of supports for districts, according to the proposal packet reviewed by the committee. Those services include instructional media and materials, digital resources, courier services among schools and consultation in training and instructional technology integration. Matthew Stem, executive director for IU13, noted in a letter included with the proposal that the $1.031 million figure reflects a 2.28% overall increase in expenditures for the unit next year. Under the line-item breakdown provided to the Ephrata board, the district’s incremental increase — $341 — adjusts Ephrata’s contribution from $32,727 to $33,068. The committee discussion focused on whether to approve the higher IU13 allocation as part of the district’s upcoming budget decisions. Budget proposed: $1.031 million instructional media services for IU13 Stated increase: 2.28% in IU13 expenditures, per Matthew Stem Ephrata contribution: rising from $32,727 to $33,068 — a $341 increase The board packet also included two extracurricular items for consideration. The secondary schools will consider creating a new Board Game Club at Ephrata High School and disbanding the middle school Equestrian Club. Middle school Principal Christopher Montagna submitted a request to disband the Equestrian Club, stating the club no longer meets, per the request form in the district board packet. Details for the proposed Board Game Club indicate it would meet after school for one hour per week throughout the full school year, with an anticipated 10 to 15 participants and no officers or leadership positions. Penn Miller emphasized the club’s expected benefits for student engagement and skill development in the application. The school board is scheduled to vote on the IU13 funding request and the club actions at its voting meeting on April 27 at 7 p.m. The meeting will be held at Highland Elementary School, 99 Highland Ave., Ephrata. Board members will decide whether to adopt the IU13 instructional media services budget as proposed and whether to approve the new Board Game Club and the disbanding of the middle school Equestrian Club. --- ## Risk Consulting - Risk Technology - Oracle GRC - Manager in East New York at Ernst & Young Oman URL: https://startupsmena.com/risk-consulting-risk-technology-oracle-grc-manager-in-east-new-york-at-ernst-young-oman-apply-now-mo3vkplt Date: 2026-04-18 Category: other Tags: Ernst & Young, EY, Risk Consulting, Oracle GRC, job posting, Oman **Summary:** Ernst & Young Oman is hiring a Manager for its Risk Consulting — Risk Technology practice focused on Oracle GRC and application security, with U.S. locations and a salary range up to $297,200 in high-cost areas. The role requires ~5 years' experience, a degree, travel readiness, and emphasizes Oracle controls, project management and client-facing leadership. Ernst & Young Oman is recruiting for a Manager in its Risk Consulting — Risk Technology practice with a focus on Oracle GRC and application security, a role advertised on the Vaia Talents job board. The full-time position lists multiple U.S. locations including East New York, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York, San Francisco, San Jose, and Seattle and offers a U.S. base salary range between $142,600 and $261,500 (with higher ranges of $171,200 to $297,200 for the New York City Metro Area, Washington State and California, excluding Sacramento). The role requires approximately five years of related experience and a bachelor’s or master’s degree, and candidates must hold a valid U.S. driver’s license and passport with willingness to travel domestically and internationally. "At EY, we’re all in to shape your future with confidence. We’ll help you succeed in a globally connected powerhouse of diverse teams and take your career wherever you want it to go. Join EY and help to build a better working world," the firm states in the job posting. The Manager position is part of EY’s Risk Technology national practice and centers on Oracle application security and controls technology enablement. According to the listing, the successful candidate will "manage client engagement teams, work with a wide variety of clients to deliver professional services, and manage business development activities on strategic and global priority accounts." Responsibilities include leading teams to transform risk functions, implementing technology solutions that enhance decision-making and automate controls, and delivering visibility and transparency of risk and compliance to stakeholders. EY’s job description lists specific technical and professional requirements, emphasizing experience across Oracle business processes and controls testing. Key qualifications and preferred skills include: Understanding of Oracle business processes such as purchase-to-pay, record-to-report and order-to-cash. Experience with controls testing, sensitive access reviews and segregation of duties testing. Advanced project management and client service skills, with strong written and verbal communication. Prior experience as a consultant or client-serving professional; Oracle Cloud and/or Workday ERP implementation experience is desirable. Industry-related certifications such as CPA/CA, CISA or RICS and a foundational understanding of auditing Oracle technologies. EY highlights a comprehensive compensation and benefits package that includes medical and dental coverage, pension and 401(k) plans, and a flexible vacation policy. The firm also sets expectations for a hybrid working model for client-facing roles, estimating that most people will work together in person 40–60% of the time over the course of an engagement or year. "We offer a comprehensive compensation and benefits package where you’ll be rewarded based on your performance and recognized for the value you bring to the business," the posting adds, reinforcing EY’s messaging on development and recognition. Applications are accepted on an ongoing basis via the Vaia Talents job board. EY positions the role as an opportunity for professionals who are passionate about improving business performance through risk management technologies and who seek a leadership role within a global professional services network active in more than 150 countries. --- ## Lead Engineer - Digital Certificate Technology Services in East Rochester at Ernst & Young Oman URL: https://startupsmena.com/lead-engineer-digital-certificate-technology-services-in-east-rochester-at-ernst-young-oman-apply-no-mo3vn535 Date: 2026-04-18 Category: tech Tags: **Summary:** Kick-start your career as a Lead Engineer - Digital Certificate Technology Services in East Rochester at Ernst & Young Oman 🚀 Easily apply on the largest job board for Gen-Z! ✅ Ernst & Young Oman is hiring a Lead Engineer for its Digital Certificates Technology Service (DCTS) team to be based in East Rochester, a role that will drive Public Key Infrastructure (PKI) engineering across EY’s global information security organisation. The position — advertised on Talents Vaia — seeks an experienced technical lead to manage certificate lifecycle solutions covering Transport Layer Security (TLS), code signing, user and device authentication and email encryption, and will oversee engineering resources responsible for Microsoft PKI, OCSP, Hardware Security Modules (HSM) and certificate management platforms. "At EY, we’re all in to shape your future with confidence," the firm says in its job posting, framing the role as part of a broader effort to sustain secure connectivity across EY’s global infrastructure. The DCTS team is tasked with engineering, development and sustainment of digital certificate‑based security and encryption technologies that service the global firm. The Public Key Infrastructure (PKI) Engineering Lead will act as the primary point of contact for strategy and best practices, and will serve as a bridge between business stakeholders, solution architecture and IT operations to ensure deployed services meet security, functional and operational requirements. Role responsibilities and technology stack Lead design, development and implementation of full certificate lifecycle management solutions aligned to multiple use cases such as TLS, code signing, authentication and email encryption. Manage and maintain PKI systems and underlying infrastructure including Microsoft PKI, OCSP, HSMs (SafeNet/nCipher) and vendor platforms such as KeyFactor Command and Venafi Trust Protection Platform. Act as product owner for deployed services and manage vendor technologies; develop product roadmaps and support release planning, validation testing and production readiness. Support cloud-related PKI management in Azure or AWS and use automation skills such as PowerShell scripting and REST API integration. Lead a team: hire, assign responsibilities and coach performance to deliver service stability and continuity. Qualifications and compensation Education: Bachelor’s or master’s degree in information assurance, computer science, information systems or related field. Experience: 12+ years in IT, 8+ years in information security and at least 6+ years of hands‑on PKI engineering experience. Preferred skills: CyberArk/Venafi certificate management suite experience, code signing, HSM proficiency (SafeNet/nCipher), PowerShell and REST API familiarity. Compensation: U.S. base salary range listed at $128,100 to $239,600; New York City Metro, Washington State and California ranges are $153,800 to $272,300. The posting notes these ranges are provided to comply with United States pay transparency laws and that other geographies will follow local salary guidelines. The listing highlights EY’s total rewards package — medical and dental coverage, pension and 401(k) plans, paid time off options and a hybrid working expectation that client‑facing roles will work in person 40–60% of the time. EY also states it accepts applications on an ongoing basis and offers reasonable accommodation for applicants with disabilities, directing candidates to call 1‑800‑EY‑HE for assistance. As enterprises continue to prioritise cryptographic hygiene and certificate lifecycle automation, this hire underscores EY’s investment in specialised PKI capabilities to secure its global estate and support evolving authentication and encryption needs. --- ## 5 Best Investment Apps for Millennials and Gen Z in the UAE URL: https://startupsmena.com/5-best-investment-apps-for-millennials-and-gen-z-in-the-uae-techbullion-mo3sew4v Date: 2026-04-18 Category: tech Tags: **Summary:** As a millennial and Gen Z, you are more likely to explore multiple UAE investment opportunities instead of sticking to only stocks and bonds like previous generations. You are also more likely to pref Millennial and Gen Z investors in the UAE are increasingly turning to mobile-first, low-cost platforms that offer fractional shares, robo-advisory services and access to a wide range of asset classes beyond traditional stocks and bonds. Five platforms stand out in the market for their suitability to younger, tech-savvy savers: Sarwa, eToro, Interactive Brokers (IBKR), Wahed Invest and StashAway. Each app targets different priorities — from Sharia-compliant portfolios and social copy trading to advanced research tools and private-market access — while offering low account minimums and competitive fee structures. "Sarwa is best known for offering an all-in-one platform that supports both active and passive investors," according to the product overview used in the UAE market. How the platforms compare Sarwa — Positioned as the best overall investment app in the UAE, Sarwa provides access to US stocks, US and local stock ETFs, bond ETFs, REIT ETFs, commodities ETFs, stock options and cryptocurrencies. The app supports both active trading via Sarwa Trade and passive strategies via Sarwa Invest, with conventional, Halal and socially responsible portfolio options. Sarwa offers fractional investing and advertises free AED deposits and withdrawals. Fees include a commission of the higher of $1 or 0.25% on stocks and ETFs, plus a 0.40–0.85% annual management fee on passively managed portfolios. Account minimums start at $500, and the platform includes an educational library, including guides such as how to invest $1,000 in stocks in the UAE. eToro — A global platform licensed to operate in the UAE, eToro offers cryptocurrencies, stocks, ETFs, indices, currencies and commodities from 20 global exchanges. eToro supports fractional investing and promotes commission-free stock trading, complemented by competitive fees on other assets. Its signature feature is social or copy investing, which allows users to replicate the investment choices of other experienced investors. The platform is described as ideal for beginners who want to learn from and mirror expert strategies. Interactive Brokers (IBKR) — Targeted at advanced investors, IBKR provides access to stocks, bonds, mutual funds, spot currencies, spot commodities, futures and options across more than 170 markets. IBKR advertises low costs: stocks and ETFs are commission-free on IBKR Lite and cost $0.005 per share on IBKR Pro. There is no account minimum, and users can choose between beginner-friendly GlobalTrader or the more sophisticated Trader Workstation for advanced research and execution. Wahed Invest — Billed as a Sharia-compliant robo-advisor, Wahed Invest offers passively managed portfolios reviewed by a Shariah Review Bureau (SRB) to ensure halal investments. Portfolios are diversified across stocks, real estate, gold and bonds, and tailored to individual risk tolerances. The platform also has a low entry threshold, with minimum investments from $500, making it a fit for passive investors focused on Sharia compliance. StashAway — StashAway provides globally diversified, expert-managed portfolios and curated ETF lists for active investors. It also gives retail users curated access to private markets — including private equity, private credit and private infrastructure — with no minimum for public market investments and a $20,000 entry requirement for private markets exposure. The platform is recommended for investors seeking automated robo-advisory combined with private-market allocation. Outlook: With clear options for fractional investing, low or no account minimums for public assets, robo-advisory and Sharia-compliant choices, UAE investors from the millennial and Gen Z cohorts now have tailored pathways to assemble diversified portfolios. Choice of platform will depend on whether users prioritise social trading (eToro), advanced tools and broad market access (IBKR), Sharia compliance (Wahed), an all-in-one experience (Sarwa) or private-market access (StashAway). --- ## National Fund strengthens support for startups URL: https://startupsmena.com/national-fund-strengthens-support-for-startups-mo3sc3ki Date: 2026-04-18 Category: tech Tags: **Summary:** National Fund strengthens support for startups - Kuwait - KUWAIT: The National Fund for Small and Medium Enterprise Development affirmed Tuesday its commitment to supporting entrepreneurs through its KUWAIT — The National Fund for Small and Medium Enterprise Development on Tuesday reiterated its commitment to supporting entrepreneurs by joining the national "Sa’a" initiative, positioning itself as the first government entity to participate in the platform that highlights impactful projects and Kuwaiti success stories. The Fund announced its involvement in a press statement dated April 14, 2026, saying the move underscores its effort to strengthen communication with the community and bolster the country’s entrepreneurial ecosystem amid ongoing sector challenges. "Participation in the initiative stems from a sense of national responsibility and an ongoing commitment to supporting entrepreneurs and SMEs, particularly in light of current challenges facing the sector," Public Relations Officer Dalal Hussein said in the statement, outlining the rationale for the Fund’s engagement with Sa’a. Program details and services In its statement, the Fund emphasized that participation in Sa’a is intended to deepen its institutional presence and create broader opportunities for national projects to showcase achievements. The Fund highlighted several core services it provides to Kuwaiti entrepreneurs, aimed at enhancing market access, competitiveness and resilience. Registration in the National Register of Small and Medium Enterprises — an official platform that grants entrepreneurs access to benefits including preferential pricing in government tenders and procurement priority in accordance with approved regulations. Facilitation of access to classifications by the Central Agency for Public Tenders, helping firms meet procurement and tender requirements. Platforms for showcasing products and services specifically for SMEs, designed to open wider prospects for growth and sustainability. Continuity of electronic services to ensure uninterrupted access to support and resources for business owners. The Fund cited examples of projects featured by the initiative that have benefited from its support, including Beit Nasser and Baby Tummy — the latter described as a venture that prepares fresh and healthy meals for children and as a notable example of innovation and responsiveness to market needs. The Fund said such ventures receive empowerment, institutional backing and promotional support to strengthen market presence and pursue long-term sustainability. Dalal Hussein also outlined the Fund’s operational priorities, saying it will continue to monitor entrepreneurs’ needs, identify challenges and develop practical solutions that enable businesses to grow and adapt. The Fund stressed its focus on providing "a more flexible and responsive environment for entrepreneurs" and maintaining digital channels for service delivery to keep assistance accessible even during difficult conditions. Looking ahead, the Fund reaffirmed its intention to expand partnerships and initiatives that serve the SME sector, contributing to a culture of entrepreneurship and helping young Kuwaiti talents translate ideas into sustainable enterprises. The statement concluded by noting the Fund’s continued role as an institutional partner for entrepreneurs and its alignment with the state’s broader support for entrepreneurship. — KUNA --- ## Plata, founded by Tinkoff natives, reached a valuation of $5 billion URL: https://startupsmena.com/plata-founded-by-tinkoff-natives-reached-a-valuation-of-5-billion-oninvest-mo3rmchd Date: 2026-04-18 Category: tech Tags: **Summary:** Plata's Series C funding round was led by venture capital fund Bicycle Capital, fintech investor Kora, Qatar's sovereign wealth fund Qatar Investment Authority and Brazilian investment bank BTG Pactua Mexican fintech Plata has raised $405 million in a Series C round that values the company at $5 billion, making it — according to Bloomberg — the most valuable private financial company in Latin America. The fundraising was confirmed by one of Plata’s investors, Michael Calvey, on LinkedIn and follows the company’s receipt of a full banking licence in Mexico earlier this year. "This round reflects investor confidence not only in our current execution of our strategy, but also in the scale of future opportunities," said Plata co‑founder and CEO Neri Togliardo. Context and details The $405 million Series C was led by venture capital fund Bicycle Capital alongside fintech investor Kora, Qatar Investment Authority and Brazilian investment bank BTG Pactual. Morgan Stanley acted as exclusive financial adviser to the transaction. Following the round, Plata's investor base expanded to include sovereign wealth funds, global asset managers and U.S. university endowments, among them the University of Illinois Foundation, the University of Wisconsin Foundation and Washington University in St. Louis, according to a company release cited by Bloomberg. Founders: Plata was founded in 2023 by former Tinkoff managers Neri Togliardo, Alexander Bro and Danil Anisimov. (Tinkoff has since rebranded to T‑Bank.) License and operations: Plata received final approval for a Mexican banking licence in February 2026 and began full‑scale operations as a bank in March 2026, joining other digital entrants such as Revolut’s operation in Mexico led by Nikolay Storonsky. User growth: Active credit‑card users rose to more than 3.5 million, up from 1 million in March 2025. Financial scale: Since founding, Plata has raised more than $2 billion in debt and equity. Bloomberg reports annualized revenue exceeding $600 million. Loan book: Plata’s loan portfolio expanded roughly 170% to nearly 10 billion pesos (about $563 million) in 2025. By comparison, Nu Holdings’ loan portfolio in Mexico grew 61% to 31 billion pesos (about $1.75 billion) over the same period, per local regulator data cited by Bloomberg. Geographic footprint: Plata currently operates in Mexico and received approval to become a financial institution in Colombia in July 2025. Analytical platform PitchBook places Plata among the most highly valued fintechs in Latin America — ahead of private rivals Klar and Stori, and trailing only Brazil’s Nubank among regional incumbents. Bloomberg notes that the $5 billion valuation is the highest in the region for a private financial company. Outlook With fresh capital and backing from sovereign and institutional investors, Plata is positioned to scale its AI‑driven technology stack and expand lending and payment products in Mexico and potentially Colombia. The company has said it is considering an initial public offering, and the Series C — plus the recent banking licence — will likely strengthen its case for public markets or further international expansion. For now, Plata's rapid user growth and a loan book that outpaced some peers underscore the intensifying competition between fintechs and traditional banks in Mexico’s still‑underserved financial market. --- ## State seed to global ambition: Qatar's $3bn VC moment URL: https://startupsmena.com/state-seed-to-global-ambition-qatars-3bn-vc-moment-gulf-times-mo3s5c3f Date: 2026-04-18 Category: tech Tags: **Summary:** Its investment arm participated ... public capital in early-stage financing. Startup Qatar and the Qatar FinTech Hub further reinforce the pipeline development by reducing entry barriers through licen Qatar has escalated its venture capital ambitions with the Qatar Investment Authority (QIA) expanding its Fund of Funds (FoF) programme to $3bn, a move announced by His Excellency the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani at Web Summit Qatar 2026. The additional $2bn commitment is intended to attract global VC firms, deepen Series A–C funding, and address current financing gaps as Doha pushes from an early-stage market toward a globalisation phase aimed at creating world-class unicorns. "We are witnessing a shift from ecosystem creation to ecosystem scaling. From attracting venture firms to enabling exits. From funding startups to building global companies," a source in Qatar FinTech Hub said. Context and details The FoF expansion adds five new funds to the programme, spanning sectors such as artificial intelligence, fintech, blockchain and infrastructure, and brings the total number of regional and global fund managers supported in Qatar to 12. The move complements domestic enablers: Qatar Development Bank (QDB) has emerged as a key ecosystem builder and direct investor, with its investment arm participating in one-third of all VC deals in Qatar in 2025. Doha’s venture funding reached a record QR214mn in 2025, an 81% year-on-year increase, according to a joint QDB and MAGNiTT report. The ecosystem remains strongly early-stage biased: pre-seed and seed rounds make up over 90% of deal volume, while early-stage investments account for the majority of deployed capital. Qatar’s VC scene has already attracted curated global players establishing local presence, including Founders Circle Capital, B Capital, Builders VC, Deerfield Management, Utopia Capital Management, Rasmal Ventures and Golden Gate Ventures. As QIA scaled the FoF to $3bn, additional global firms such as Greycroft, Ion Pacific, Liberty City Ventures, Speedinvest and Shorooq joined the initiative. Exits remain acquisition-led rather than IPO-driven. Industry insiders noted that "Qatar lacks a strong pipeline of venture-backed initial public offerings and exit activity is primarily strategic acquisitions." The acquisition of Snoonu by Saudi-listed Jahez Group for QR1.1bn marked Qatar’s first billion-riyal tech exit and is the largest startup exit in the country’s history, but growth-stage and pre-IPO funding depth is still developing. Outlook Analysts and ecosystem participants see a pathway for Qatar to evolve into a mid-sized Middle East and North Africa VC hub. In a base case, annual funding could rise to $150mn–$300mn through increased Series A/B activity supported by the FoF. To realise that potential, observers recommend deepening private-sector participation, scaling later-stage funding vehicles, and building domestic exit demand — for example by incentivising large Qatari corporates to acquire startups and by creating more pre-IPO funding instruments. Immediate aims: attract global VC firms, deepen Series A–C financing, and support sectoral funds in AI, fintech, blockchain and infrastructure. Medium-term challenges: address capital concentration, liquidity pressures amid fiscal shifts, and create credible exit pathways beyond strategic acquisitions. Long-term goal: transition from a capital deployment hub to a sustainable, self-sufficient innovation economy capable of producing global companies. --- ## Qatar emerges as key player in next-gen financial infrastructure URL: https://startupsmena.com/qatar-emerges-as-key-player-in-next-gen-financial-infrastructure-the-peninsula-qatar-mo3s2exq Date: 2026-04-18 Category: tech Tags: **Summary:** Doha, Qatar: Venture capital investment across the Gulf, especially Qatar, is undergoing a significant transformation, moving away from opportunistic funding toward more strategic, long-term deploymen Doha positions itself as hub for institutional digital finance amid Gulf VC shift Doha, Qatar — Venture capital investment across the Gulf is shifting from opportunistic, retail-driven bets to strategic, long-term deployment aligned with national economic agendas, with Qatar emerging as a focal point for institutional-grade digital finance infrastructure, market experts told The Peninsula. The trend is marked by greater alignment between public policy and private capital, and an emphasis on regulated digital assets, tokenisation and platform-level technologies rather than speculative retail cryptocurrency trading. Direct quote “Over the past few years, venture capital in the Gulf has moved from opportunistic funding toward strategic capital deployment aligned with national transformation agendas,” said Silvina Moschini, CEO of Unicorns Media. “Governments are no longer just observers of the tech economy, they are active architects of it.” Context and details Industry sources point to sovereign wealth funds, family offices and institutional investors increasingly directing capital into fintech, artificial intelligence, climate technology and digital infrastructure. Moschini highlighted regulatory work by the Qatar Financial Centre as an example of the country’s strategic pivot. “Through the Qatar Financial Centre’s Digital Assets Regulations, the country is prioritizing tokenisation, smart contracts, and institutional digital finance infrastructure rather than retail crypto markets,” she said. “That signals a deliberate strategy like positioning Qatar not just as a startup market, but as a future hub for institutional-grade digital asset infrastructure.” Doha-based market analyst Khalid Ali said regulatory clarity and a focus on regulated products are central to attracting institutional interest. “Qatar is playing a long game,” Ali said. “By focusing on regulated digital assets and infrastructure rather than speculative retail activity, the country is building trust with global investors. That’s what will differentiate it in the next phase of fintech evolution.” Experts identified three sectors likely to dominate venture capital flows across the Gulf over the next three to five years: Digital finance and tokenised assets — including tokenised securities, digital settlement platforms and regulated stablecoins; AI-driven enterprise platforms — adoption of artificial intelligence across logistics, healthcare, energy and public services; Climate and energy transition technologies — solutions for carbon management, smart grids and water sustainability. Ali emphasised the interplay between national strategy and investor capital: “What makes the region compelling is that these sectors intersect with large sovereign capital pools and long-term national visions,” he said. “There is a clear connection between national priorities and investment flows here. Whether it’s digital finance, AI, or sustainability, capital is being deployed in areas that directly support the country’s long-term economic diversification goals.” Outlook With the Qatar Financial Centre refining digital assets regulations and Doha signalling a preference for infrastructure and institutional use cases, analysts expect Qatar to attract more long-duration capital rather than short-term speculative investment. The region’s sizable sovereign capital and clearer regulatory frameworks could tilt venture deployment toward platform-level projects that underpin national transformation agendas, positioning Qatar as a specialised hub for next‑generation financial infrastructure in the Gulf. --- ## Iconiq, go-to wealth adviser for tech’s elite, is putting billions into AI URL: https://startupsmena.com/iconiq-go-to-wealth-adviser-for-techs-elite-is-putting-billions-into-ai-the-economic-times-mo3s97im Date: 2026-04-18 Category: tech Tags: **Summary:** They were there to meet with some of the world’s most deep-pocketed investors, including Qatar’s sovereign wealth fund and Abu Dhabi-based MGX. Photos of Amodei and wealth fund officials including Ibr Iconiq, the secretive wealth manager long associated with Silicon Valley elites, is pushing billions of dollars into artificial intelligence startups as it expands into venture capital. Documents and people familiar with the firm show Iconiq has roughly $100 billion in assets under management and poured more than $3 billion into AI companies in 2025 alone. The firm has invested about $4 billion in Anthropic and is reported to be one of the startup’s largest backers. Iconiq also organised a high-profile trip last year that brought Anthropic chief Dario Amodei to meet Gulf investors — including officials from Qatar’s sovereign wealth fund and Abu Dhabi-based MGX — with photos of Amodei alongside Mubadala Capital’s Ibrahim Ajami circulating widely. “It’s been all AI, all the time,” Iconiq partner Matthew Jacobson said in an interview. Expansion, clientele and track record Iconiq, founded in 2011 by Divesh Makan with partners including Michael Anders and Chad Boeding, has long operated behind the scenes for wealthy clients. The firm’s roster has included Mark Zuckerberg, Satya Nadella and, according to people with knowledge of the situation, recently added Nvidia’s Jensen Huang. Entertainment figures cited by sources include Tom Cruise and Pharrell Williams. Iconiq declined to comment on its client list, its stake in Anthropic or fundraising plans. Assets under management: roughly $100 billion, per documents and a person familiar with the matter. AI investments: more than $3 billion in 2025. VC-specific capital: about $26 billion under management dedicated to venture investing. Most recent VC fund: $5.75 billion raised; Iconiq has been reported to have invested roughly $4 billion in Anthropic. Early fund performance: a $509 million fund from 2013 returned investors 2.6x; a $1.02 billion second fund delivered 4.2x as of the end of last year. The firm’s style blends wealth management with dealmaking and access. Iconiq employees are instructed to provide highly personalised services—from arranging private jets to staging celebrity events—and to maintain strict discretion; the company has reportedly dismissed staff for leaks. London partner Seth Pierrepont described the firm’s approach as operating “on this mantra of giving twice before asking once.” Iconiq has used its network to introduce startups to potential customers and partners: ElevenLabs CEO Mati Staniszewski said Iconiq arranged meetings with Tom Cruise and hosted his company at the Grammys, adding, “For us, that space is so important, just to show the art of the possible.” Iconiq has also expanded its public venture footprint: its first four venture funds rank among the top 25% of their peer groups, according to Cambridge Associates benchmarks cited in reporting, and the firm is preparing to raise additional billions for a new fund, according to a securities filing and people familiar with the matter. The company, whose median client reportedly has about $1 billion in assets and which generally targets clients with at least $25 million in net worth, continues to project a blend of concentrated client service and large-scale capital deployment. Looking ahead, Iconiq’s leaders appear determined to increase their influence in AI financing even as some market participants voice concern about valuations. While the firm declined to comment on its fundraising or stake in Anthropic, its recent activity — and Jacobson’s emphasis on AI’s transformative potential — signal an intent to remain a major, if discreet, force in the sector as it raises fresh capital and seeks further stakes in the companies shaping generative AI. --- ## stc pay Bahrain Partners with GPS to Strengthen Digital Payment Infrastructure and Security URL: https://startupsmena.com/stc-pay-bahrain-partners-with-gps-to-strengthen-digital-payment-infrastructure-and-security-techafri-mo3rg02z Date: 2026-04-18 Category: tech Tags: **Summary:** This collaboration is part of stc pay’s ongoing investment in building a secure, scalable, and world-class digital payment infrastructure for the Kingdom of Bahrain. stc pay Bahrain has entered a strategic partnership with Global Payment Services (GPS) to bolster the Kingdom of Bahrain’s digital payment infrastructure, the companies said. The collaboration, announced April 15, 2026, is aimed at enhancing card and digital payment services by leveraging GPS’s "20+ years of payment processing expertise" to strengthen reliability, scalability and security across stc pay’s ecosystem and expand its interoperability with global payment networks. "Our commitment at stc pay is to provide our customers with the most advanced and secure digital payment experience. This strategic partnership with GPS represents a significant investment in our core infrastructure. By leveraging their deep expertise, we are enhancing our card and digital payment services, ensuring they are not only seamless but also built on a foundation of unparalleled security and reliability for the future." – Metin Zavrak, CEO, stc pay Context and details The agreement positions GPS, a Bahrain-based payment infrastructure provider, as a key processing and card-personalization partner for stc pay Bahrain, the mobile wallet operator that markets itself as the country’s "most innovative and accessible mobile wallet for digital financial transactions." According to the announcement reported by TechAfrica News, the partnership will: Enhance card-processing and digital payment transaction handling across stc pay’s platform; Strengthen system reliability and scalability to support growing transaction volumes; Improve security posture for card and digital payments through GPS’s processing services; Extend stc pay’s interoperability with global card schemes and payment networks. Ali Arab, General Manager of Global Payment Services, framed the deal as part of GPS’s broader move beyond its traditional banking client base. "The collaboration with stc pay highlights GPS’s continued evolution as a trusted digital payments partner. As we expand beyond our core banking client base, we are leveraging decades of expertise to deliver secure processing services of cards and the digital payments, alongside comprehensive card personalization solutions. Together, these capabilities reinforce our commitment to supporting the growth of innovative digital payment ecosystems." Arab said. The partnership comes as stc pay continues to invest in what it calls a "secure, scalable, and world-class digital payment infrastructure for the Kingdom of Bahrain." By combining stc pay’s consumer-facing mobile wallet and GPS’s back-end processing and card personalization services, both firms aim to accelerate the rollout of more seamless card and digital payment experiences for individuals and merchants across Bahrain. Outlook For stc pay, the deal is positioned as an infrastructure-level investment to underpin future product launches and regional expansion of services, and to reinforce Bahrain’s ambition to be a leading fintech hub. For GPS, the partnership represents a strategic widening of its client base into consumer fintech platforms. Together, the companies say the collaboration will support the continued growth and innovation of Bahrain’s digital economy by delivering more resilient payment rails and broader interoperability with international payment networks. --- ## Iran Had a Doomsday Weapon All Along URL: https://startupsmena.com/iran-had-a-doomsday-weapon-all-along-chinatechnewscom-mo3rjaxs Date: 2026-04-18 Category: other Tags: geopolitics, energy, defense, oil, Strait of Hormuz, Iran, Trump **Summary:** The article summarizes The Atlantic's argument that Iran already possesses an economic 'doomsday' capability through its leverage over the Strait of Hormuz, creating significant strategic and market risks. It highlights immediate market and defense reactions and the need for sustained diplomatic and military planning to secure maritime routes. President Donald Trump’s decision to go to war to prevent Iran from developing a nuclear weapon, a policy he has publicly defended, produced an unintended strategic discovery: Tehran already possessed an economic “doomsday” capability, according to a summary of a long-form piece in The Atlantic republished by ChinaTechNews on April 18, 2026. The Atlantic argues that Iran’s leverage over the Strait of Hormuz — the chokepoint through which a large share of global seaborne oil transits — amounts to an “economic equivalent of mutual assured destruction” that neither Washington nor Tehran had fully appreciated until open conflict made the risk immediate. "President Trump has said that he went to war to stop Iran from ever having a nuclear bomb," the ChinaTechNews summary quotes from The Atlantic. "Unfortunately, the war he launched led Iran to discover that it already had an extremely effective doomsday weapon—one that promised the economic equivalent of mutual assured destruction." The pieces cited by ChinaTechNews underline how the Strait of Hormuz has long been recognized as a vulnerable point. "The Strait of Hormuz has always been vulnerable; the United States has always known that Iran might try to close it if attacked," the summary notes, quoting The Atlantic. But, it continues, "neither Washington nor Tehran imagined how easy it would be for Iran to do so, how hard it would be for the U.S. to reopen it, or how widely and rapidly..." — a line that underscores uncertainty about the practical steps required to keep global energy and shipping lanes open under duress. ChinaTechNews’ snapshot situates the Atlantic analysis alongside a string of market and defence headlines from April 18, 2026 that suggest the international reaction was immediate. Newsquawk’s US Market Wrap reported "Stocks at record highs and oil dives as Iran reopens Hormuz," while ZeroHedge carried a related market note. Tech and defence developments noted the same day included NVIDIA share movement — "NVIDIA Stock Climbs 1.2% to $200 as AI Demand Fuels Continued Momentum in Chip Sector" — and a U.S. Marine Corps video release showcasing a new Medium Landing Ship design reported by Defense News. The juxtaposition of markets, defence planning and geopolitical analysis in those headlines highlights how quickly economic and strategic considerations converged around the Hormuz question. Primary actors named: President Trump, Iran, Washington, Tehran. Strategic focus: Strait of Hormuz as an economic chokepoint. Source material: The Atlantic analysis summarized by ChinaTechNews (April 18, 2026). Outlook: The Atlantic’s framing, as carried by ChinaTechNews, raises near-term risks for policymakers and markets. If Iran’s ability to disrupt Hormuz is as accessible and consequential as described, reopening and securing vital maritime routes would demand sustained diplomatic and military planning — and could prompt rapid market volatility. Policymakers in Washington, Gulf capitals such as Bahrain, and global energy consumers will be watching for concrete steps to reduce dependence on a single chokepoint, even as markets and defence establishments respond to the shifting calculus documented in media coverage on April 18, 2026. --- ## BENEFIT Concludes Second Cohort of Fintech Drivers Program to Build Bahraini Digital Talent URL: https://startupsmena.com/benefit-concludes-second-cohort-of-fintech-drivers-program-to-build-bahraini-digital-talent-techafri-mo3ralqv Date: 2026-04-18 Category: tech Tags: **Summary:** The initiative forms part of BENEFIT’s broader efforts to equip Bahraini talent with practical, industry-relevant capabilities and to support the evolving demands of the financial services and digital BENEFIT, the Kingdom’s innovator and leading company in fintech and electronic financial transactions service, has announced the successful completion of the second cohort of its six‑month “Fintech Drivers” Program. The virtual graduation, held on April 14, 2026, celebrated seven graduate trainees who completed the programme and were onboarded across key business departments within BENEFIT. The initiative was delivered under Tamkeen’s Furas Program and is intended to translate academic learning into practical fintech applications for Bahraini graduates. “The successful completion of the second cohort of ‘Fintech Drivers’ reflects our continued investment in developing Bahraini talent and preparing them to contribute to the future of financial services. The trainees demonstrated strong discipline and adaptability within a dynamic digital banking ecosystem, reinforcing the importance of investing in human capital as a key driver of sustainable growth, in line with the objectives of Tamkeen’s Furas Program to empower Bahraini youth” — Mr. Salah Alawadhi, Chief of Human Resources Administration, BENEFIT Program context and delivery The Fintech Drivers Program is positioned as BENEFIT’s response to a skills gap between academic curricula and the operational needs of the fintech sector. Structured as a six‑month placement, the programme pairs recent graduates with business and technology teams inside BENEFIT to provide hands‑on exposure to product development, digital banking operations and specialised information‑technology areas. Duration: Six months Participants: Seven graduate trainees in the second cohort Delivery partner: Tamkeen’s Furas Program Format: Virtual graduation; on‑the‑job placements across key BENEFIT departments Focus: Practical skills, applied knowledge and direct engagement with fintech operations and IT specialisms BENEFIT framed the programme as a bridge between theory and practical application, with trainees embedded across departments to accelerate their workplace readiness. The company emphasised that the virtual graduation and completion of placements demonstrated resilience in its operating model and its ability to maintain continuity for professional development initiatives despite evolving workplace dynamics. “We affirm our commitment to expanding mentorship and training programs targeting Bahraini youth, with plans to introduce future specialized cohorts aimed at sustaining Bahrainization levels and enhancing the contribution of national talent to the Kingdom’s economy.” — Mr. Salah Alawadhi, Chief of Human Resources Administration, BENEFIT Outlook BENEFIT said it will continue to scale mentorship and training efforts with the aim of launching specialized future cohorts that further embed national talent within the fintech and digital services ecosystem. By working under Tamkeen’s Furas Program framework, the company seeks to align its talent pipeline with Bahrain’s broader workforce development objectives and to increase the proportion of Bahrainis working in technically specialised roles in the financial services sector. This report is based on coverage by TechAfrica News, authored by Jennifer Onyeagoro and published April 14, 2026. --- ## Egypt’s MoneyHash strengthens presence in Bahrain with EazyPay partnership URL: https://startupsmena.com/egypts-moneyhash-strengthens-presence-in-bahrain-with-eazypay-partnership-disrupt-africa-mo3rdcnx Date: 2026-04-18 Category: tech Tags: **Summary:** Egyptian startup MoneyHash, the leading payment orchestration platform in emerging and global markets, has partnered Bahrain-based payment service provider and acquirer EazyPay to strengthen access to Egyptian payment orchestration startup MoneyHash has partnered with Bahrain-based payment service provider and acquirer EazyPay to expand access to payment gateways in Bahrain for regional and global merchants. Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash offers a proprietary payment orchestration platform and end-to-end payment operating system and has been broadening its international footprint after a successful beta in 2022 and a recent enterprise launch. “Growth in markets like Bahrain requires more than access, it requires control over how payments are routed, optimized, and scaled,” said Abdelrazik. Context and details MoneyHash’s partnership with EazyPay is positioned as a strategic move to provide merchants with locally regulated and trusted payment infrastructure in Bahrain while maintaining consistent payment operations across markets. EazyPay is described as the first Central Bank of Bahrain-licensed PSP within MoneyHash’s ecosystem, enabling access to a regulated acquirer and a suite of local payment acceptance options. The startup first ran a beta in 2022 that attracted regional customers including Foodics, Rain and Tamatem. It launched an enterprise suite in October last year targeting large enterprises, and earlier this year secured US$5.2 million in pre-Series A funding as it prepares for global expansion. MoneyHash has recently agreed partnerships in Saudi Arabia, the UAE and Iraq, and the deal with EazyPay extends that network into Bahrain. Founders: Nader Abdelrazik and Mustafa Eid Founded: 2021 Notable early customers (beta): Foodics, Rain, Tamatem Product milestone: Enterprise suite launched in October Funding: US$5.2 million pre-Series A earlier this year Recent market partnerships: Saudi Arabia, the UAE, Iraq, and now Bahrain (with EazyPay) Through the EazyPay partnership, MoneyHash says merchants will be able to align with a licensed local acquirer offering capabilities such as POS acquiring, broader access to payment gateways in Bahrain, and support for emerging digital payment options. The tie-up also aims to support interoperability with digital banks in Bahrain and to allow merchants to expand into the market without rebuilding their payment stack for each new jurisdiction. Outlook The collaboration with EazyPay forms part of MoneyHash’s stated strategy to deepen its presence in Gulf markets by combining its orchestration layer with locally regulated infrastructure. For merchants operating across the region, the company positions this approach as a way to preserve consistent routing, optimization and scaling of payments while leveraging trusted local partners. With the pre-Series A capital in hand and an enterprise product suite, MoneyHash appears focused on converting these regional partnerships into broader commercial traction as it scales beyond Egypt into Bahrain and other Gulf markets. --- ## inwi, Youth Ministry Launch Gaming Startup Challenge with $10,000 Prize URL: https://startupsmena.com/inwi-youth-ministry-launch-gaming-startup-challenge-with-10000-prize-mo3n72b3 Date: 2026-04-18 Category: tech Tags: gaming, startup challenge, inwi, Morocco, MJCC, Morocco Gaming Expo **Summary:** inwi, the Ministry of Youth, Culture and Communication and Morocco Gaming Industry launched the Gaming Startup Challenge tied to Morocco Gaming Expo 2026, awarding MAD 100,000 (~$10,000) and requiring deployable proofs of concept for integration into inwi’s apps. inwi, Youth Ministry Launch Gaming Startup Challenge with $10,000 Prize inwi, the Ministry of Youth, Culture and Communication (MJCC) and Morocco Gaming Industry (MGI) have launched the Gaming Startup Challenge, a competition that awards a MAD 100,000 (approximately $10,000) grant to a winning startup and requires competitors to deliver deployable proofs of concept (POCs) for integration into inwi’s digital platforms. The initiative is tied to the Morocco Gaming Expo 2026, which will run from May 20 to 24 at the Sofitel Jardin des Roses in Rabat. "inwi and the MJCC view gamification as a sustained engagement strategy rather than a single pilot," organizers said, framing the challenge as a move away from idea-stage contests toward industrial incubation and commercial deployment. The challenge shifts emphasis from conceptual pitches to functional prototypes. Selected startups must produce POCs that can be integrated directly into inwi’s existing applications. The programme’s first phase prioritizes the "win by inwi" application, which the operator is targeting at digital natives; a subsequent edition is expected to expand to the My inwi App. To ensure projects are technically and commercially viable, inwi and the MJCC will provide a structured support programme beginning with co-design workshops that bring together business and digital transformation teams. Participating teams will also receive a public showcase: functional prototypes will be presented on the sidelines of the Morocco Gaming Expo 2026, giving founders exposure to industry audiences. Competition grant: MAD 100,000 (~$10,000) to the winning startup International incentive: Winner will receive an opportunity to participate in Gamescom Primary integration target: "win by inwi" app; second phase planned for My inwi App Support elements: co-design workshops, public showcase at Morocco Gaming Expo The Morocco Gaming Expo 2026, organised by the MJCC’s Department of Communication under the theme "Moroccan Talent," will host five major forums covering public policy and international cooperation; investment and economic models; ethics and security; development technologies; and programming and creative work. A central feature of the Expo will be an eSports Tournaments Platform with national competitions across Free Fire on mobile, EA SPORTS FC 25 on console, and Valorant and Street Fighter 6 on PC. The event is expected to attract developers, publishers, startups, professional gamers, investors, researchers and students. The challenge follows a defined calendar. The call for applications opened on Friday, April 3; the application deadline is Monday, April 20. A co-design workshop is scheduled for Monday, April 27, and the final pitch will take place on Sunday, May 24, coinciding with the Morocco Gaming Expo closing day. Organisers say the structure of the challenge links startup selection directly to commercial deployment targets: by tying POCs to applications already used by inwi’s subscriber base, the programme shortens the distance between prototype and market and accelerates the move from incubation to industrial integration. --- ## z.systems raises $1.65 mn seed round to digitise retail in Morocco URL: https://startupsmena.com/zsystems-raises-165-mn-seed-round-to-digitise-retail-in-morocco-mo3n9mqq Date: 2026-04-18 Category: e-commerce Tags: Morocco, retail tech, seed funding, B2B2C, digitisation, hanouts **Summary:** Morocco-based retail technology startup z.systems raised $1.65M in a seed round led by Azur Innovation Management to accelerate digitisation of traditional retailers (hanouts). The company has now raised $2.7M to date and plans to expand retailer onboarding, brand partnerships and payment features. Morocco-based retail technology startup z.systems has raised $1.65 million in a seed funding round to accelerate the digitisation of traditional retail markets. The round was led by Azur Innovation Management, with follow-on participation from existing investors MNF Ventures and Witamax, and marks the entry of Harambeans Prosperity Fund as z.systems’ first international institutional investor. With the new round, z.systems has now raised a total of $2.7 million to date. “Our portfolio startup z.systems secures a $1.65 million to accelerate the digitization of tradition retail in Morocco. The round was led by our friends of Azur Innovation Management with follow-on participation from existing investors MNF Ventures (through its MNF II fund) and Witamax. The round also marks a landmark milestone: the entry of Harambeans Prosperity Fund as z.systems’ first international institutional investor. With this round, z.systems has raised $2.7 million to date. Congrats to Meriem BENABAD and Samer Choumar, and all z.systems team for this new milestone, on your mission to transform our hanouts.” Context and platform details z.systems positions itself as what it calls Africa’s first B2B2C tech franchise for traditional retailers. The platform is designed to transform independent grocery stores—referred to locally as hanouts—into a digitally connected, owner-operated retail network without requiring significant capital investment from store owners. Core functionality connects brands directly with retailers and consumers, improving product availability, pricing control and in-store visibility. Customer-facing features include promotions, loyalty programmes and buy-now-pay-later options to drive demand and increase sales. The platform integrates brands, retailers and consumers into a single ecosystem intended to improve efficiency and engagement across the retail value chain. Since launch, z.systems reports it has onboarded more than 20,000 retailers, facilitated over 900,000 orders and maintains a 95% positive rating as it expands across Morocco and into wider African markets. The company is supported by the European Bank for Reconstruction and Development through its Star Venture programme and by Amazon Web Services via its startup programmes, which the firm says helps scale its infrastructure. Prior to this seed round, z.systems raised $1.05 million in a pre-seed round backed by MNF Ventures, Witamax, CASHPLUS Ventures and Kalys Ventures. The new injection of capital is intended to build on that foundation and accelerate the company’s roll-out and technology development. Outlook z.systems will use the $1.65 million seed to support its growth strategy as it continues to digitise Morocco’s traditional retail ecosystem. The funding is expected to fuel further retailer onboarding, deepen partnerships with consumer goods brands, and expand the platform’s product and payment features across new regions. Founders Meriem BENABAD and Samer Choumar and their team now enter the next phase with backing from regional and international institutional investors as they scale operations across the country and beyond. --- ## The Fintech Landscape of the Kingdom of Jordan in 2026 URL: https://startupsmena.com/the-fintech-landscape-of-the-kingdom-of-jordan-in-2026-the-fintech-times-mo3n3ps9 Date: 2026-04-18 Category: fintech Tags: Jordan, fintech, payments, digital finance, financial inclusion, JoMoPay, CliQ **Summary:** Jordan has developed a progressive digital finance ecosystem centred on Amman, with national platforms (JoMoPay, CliQ), regulatory support and roughly 200 fintech firms driving high transaction volumes and inclusion efforts. In 2026 Jordan is quietly building what industry observers describe as one of the more progressive digital finance ecosystems in the Levant. The kingdom’s fintech drive is centred on Amman, where banks, regulators and roughly 200 fintech companies converge to serve a population shy of 12 million. Digital payment systems recorded more than 184 million transactions in the past year with a combined value exceeding $38 billion; real‑time payments accounted for almost 140 million transactions valued at about $24 billion, while card payments topped 350 million transactions and electronic bill payments exceeded 66 million. "Jordan has positioned financial technology as a core pillar of its broader economic modernisation strategy." Regulation, platforms and policy Regulatory institutions, led by the Central Bank of Jordan (CBJ), have overseen a sequence of technical and policy initiatives to drive that strategy. Key infrastructure includes JoMoPay — the Jordan Mobile Payment System — and CliQ, the national instant payment system operated through the Jordan Payments and Clearing Company (JoPACC). The source notes that "JoMoPay (Jordan Mobile Payment System) was launched back in 2014." Both systems enable interoperability between banks and mobile wallets, supporting peer‑to‑peer transfers, bill payments and merchant transactions. Jordan’s digital economy is guided by the Digital Economy and Entrepreneurship Strategy (REACH 2025), which focuses on expanding digital infrastructure, supporting startups and strengthening government digital services. Internet penetration exceeds 90 per cent and smartphone usage is widespread, creating a base for rapid adoption of digital financial services. The CBJ has also established a regulatory sandbox and is progressing open banking initiatives to encourage API adoption and collaboration between banks and fintech firms. Financial inclusion and market makeup Financial inclusion has improved: about 55 per cent of adults now have a formal bank account, according to the CBJ and World Bank figures referenced in the source. Mobile wallets and digital financial services are cited as important channels for reaching women, youth, SMEs and other underserved groups, including refugee communities—the country hosts one of the world’s highest refugee populations per capita, a longstanding inclusion challenge. Number of fintech firms: approximately 200 (payments, lending, insurtech, digital banking). Notable institutions: Arab Bank (regional banking powerhouse), JoPACC, CBJ. Representative fintechs: MadfooatCom, Liwwa, Dinarak. Policy frameworks: REACH 2025 and the Financial Inclusion Strategy (2023–2028). Outlook Jordan’s fintech trajectory in 2026 is one of steady, policy‑driven progress rather than abrupt disruption. The combination of national platforms (JoMoPay and CliQ), a regulatory sandbox, open banking signals and targeted inclusion policy has translated into high transaction volumes and growing digital adoption. Challenges remain — notably rural access, gender gaps and the integration of refugee populations into formal financial services — but the country’s approach aims to balance interoperability, inclusion and innovation as it scales its digital finance ecosystem. --- ## Egpyt's INVIA Bags $1.2M To Replace Fragmented SME Tools With An AI Business OS URL: https://startupsmena.com/egpyts-invia-bags-12m-to-replace-fragmented-sme-tools-with-an-ai-business-os-mo3n0qlf Date: 2026-04-18 Category: fintech Tags: fintech, SME, AI, SaaS, Egypt, funding, POS, HR, CRM, bookkeeping **Summary:** Cairo-based fintech startup INVIA raised $1.2M from angel and strategic investors to build an AI-driven financial operating system that consolidates fragmented SME tools across finance, HR, POS and CRM. The funding will support product, engineering, data and customer acquisition as INVIA targets underserved small businesses in Egypt. Cairo-based fintech startup INVIA has raised USD 1.2 million in fresh funding from angel investors and strategic backers to build what it calls a financial operating system designed to replace fragmented tools used by small and medium-sized enterprises (SMEs). The capital will support product development, engineering, data expansion and customer acquisition as the company targets underserved SMEs in Egypt. "The company is building the platform to give small business owners full control without complexity, and that the funding will help it grow into a unified operating system spanning finance, HR, POS, and CRM," said Yehia Ashour, INVIA’s co-founder and CEO. Why INVIA says SMEs need a single system INVIA positions itself against a familiar problem: the presence of many digital tools that operate in isolation. According to the company and the reporting, accounting, cash flow, inventory and planning often sit in separate systems, creating extra work and requiring expertise many small business owners lack. INVIA’s platform is intended to automate core business finance tasks and lower barriers to adoption. Core features highlighted in the reporting include bookkeeping, cash-flow monitoring, inventory management and manufacturing oversight. The product supports non-traditional input methods for business owners, allowing interaction via text, voice notes and uploaded invoices — an approach aimed at markets where manual processes and limited technical setup remain common. INVIA’s roadmap goes beyond finance to include HR, point-of-sale (POS) and customer relationship management (CRM), signalling an ambition to become the central operational layer for small businesses. Funding, focus and product strategy The USD 1.2 million round came from angel investors and strategic backers, a vote of confidence as INVIA looks to deepen its product and expand its customer base across Egypt. The company’s strategy, as described in the reporting, is to build software tailored for smaller organisations rather than attempting to adapt enterprise-grade platforms that require lengthy onboarding or specialist staff. INVIA argues the most valuable businesses in the SME fintech space will be those that provide the underlying infrastructure that organises day-to-day operations — not just those that process payments or extend credit. By embedding finance alongside HR, POS and CRM, INVIA aims to make its software part of the operating rhythm of a business, rather than an optional add-on. Outlook INVIA’s immediate objectives are to deepen the product, expand across Egypt and demonstrate product-market fit for a single platform that handles multiple business functions. If the company succeeds in persuading small businesses to replace fragmented workflows with one unified system, it could set a pattern for similar markets across MENA and parts of Africa where fragmented tools remain the norm. This report was culled from Waya Media and was first published by TechBuild.Africa. MENAStartups.com will monitor INVIA’s progress as it rolls out product updates and scales customer acquisition across Egypt. --- ## LIV Golf is scrambling amid Saudi funding questions. Will the kingdom’s stake in other sports last? - The Athletic URL: https://startupsmena.com/liv-golf-is-scrambling-amid-saudi-funding-questions-will-the-kingdoms-stake-in-other-sports-last-the-mo3ipwh4 Date: 2026-04-17 Category: tech Tags: **Summary:** The consequences for golf could be seismic if PIF completely exits the league, but the fund’s apparent shift also has potential implications for other sports partly bankrolled by Saudi Arabia through Saudi Arabia’s sovereign wealth vehicle, the Public Investment Fund (PIF), is reported to be preparing to withdraw funding from LIV Golf, a move that has sent shockwaves through professional golf and raised fresh questions about the kingdom’s wider sporting commitments. Launched in 2022 with billions of dollars of investment and promises to disrupt the PGA and DP World Tours, LIV has been described by insiders as a “huge loss leader,” and people inside the sport are said to be scrambling to figure out their futures amid the uncertainty. "It remains fully committed to sports," said a source familiar with PIF’s thinking who was not authorized to speak publicly, a response offered after PIF’s five-year strategy release conspicuously omitted the word "sports." Context and recent moves PIF’s apparent shift has immediate implications for LIV Golf and broader repercussions for sports investments backed by Saudi money. The Athletic reported Wednesday that people inside the sport are trying to ascertain what comes next if PIF — LIV’s most high-profile sporting project — pulls out entirely. LIV Golf was launched in 2022 with massive capital support from Saudi-linked backers; despite that funding, sources described the project as suffering substantial losses. Soccer has been the centerpiece of Saudi sporting investment: Cristiano Ronaldo signed for Al Nassr at the end of 2022 on a reported deal worth £173 million ($234 million) a year; other marquee additions in 2023 included Karim Benzema, Neymar and Sadio Mane. PIF-owned clubs — Al Nassr, Al Hilal, Al Ahli and Al Ittihad — saw more than £700 million (roughly $760 million) spent across the 2023-24 season and close to £500 million (about $565 million) in 2024-25. In June 2023 PIF acquired 75 percent stakes in the four clubs; the fund later sold a 70 percent stake in Al Hilal to Kingdom Holding Company, valuing Al Hilal at SAR1.4 billion ($373 million; £276 million). Newcastle United, 85 percent owned by PIF, has received £491.9 million ($665.7 million) in cash from its owners over the past five years. Club officials and PIF representatives — including daily contact with board member Jacobo Solis and planned end-of-season reviews with chairman Yasir Al-Rumayyan — have sought to project normalcy. Separately, Saudi Arabia secured the 2034 men’s World Cup in an uncontested award; that tournament is being driven by the Ministry of Sport rather than PIF and includes proposals to build 11 new stadiums, including the 92,500-capacity King Salman International Stadium. PIF’s overseas allocation has shrunk: overseas investments peaked at 30 percent of the portfolio in 2020, fell to 23 percent by end-2022, and two years later were down to about 19 percent. Outlook The immediate outlook hinges on PIF’s next public moves. If the fund follows through on withdrawing support, the consequences for LIV Golf could be seismic — from player contracts and tournament schedules to sponsorship deals. The apparent strategic pivot toward domestic projects and event hosting, such as the 2034 World Cup, suggests Saudi funding may become more focused on ventures delivering clear local benefits rather than high-profile overseas sporting ventures. For clubs like Newcastle, the message from PIF sources that the club sits in a "strategic" pod offers short-term reassurance, but the wider rebalancing of PIF’s priorities means uncertainty will remain a feature of the sporting landscape for months to come. --- ## LIV Golf’s future in question as Saudi Arabian backers consider pulling funding: Sources - The Athletic URL: https://startupsmena.com/liv-golfs-future-in-question-as-saudi-arabian-backers-consider-pulling-funding-sources-the-athletic-mo3it1cc Date: 2026-04-17 Category: tech Tags: **Summary:** Industry sources have told The Athletic that the Public Investment Fund, the Saudi Arabian sovereign wealth fund that financed the upstart league, is preparing to pull its multibillion-dollar investme The future of LIV Golf is in doubt after industry sources told The Athletic that the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund that financed the breakaway league, is preparing to pull its multibillion-dollar investment. According to multiple people with knowledge of internal discussions, senior LIV executives were informed after the Masters that they would “soon lose their positions,” and leadership has been holding emergency meetings while some employees have begun searching for new roles. The reporting was carried by The Athletic and authored by Gabby Herzig, Brendan Quinn, Brody Miller and Adam Crafton. "I have not heard anything," said Sergio Garcia when asked about the reports, adding that players had been told at the beginning of the year that LIV is "a project of many years." Context and operational details Sources speaking to The Athletic on the condition of anonymity said executives were summoned to New York and that some members of LIV’s leadership have been seeking a "life raft" — exploring options to continue operations either without PIF backing or on a dramatically reduced budget. LIV is scheduled to play in Mexico City this week and, as of Wednesday, was proceeding with the tournament: tee times were released and some players spoke to media. Still, the event saw disruptions, with several news conferences canceled and the tournament media center closed Tuesday, reportedly citing power outages. Leadership and staffing: Executives were reportedly told after the Masters that their roles could end, prompting job searches among senior staff. Financial strain: The league has posted steep losses. LIV's United Kingdom-based entity lost $590.1 million in 2024, and the league overall has been described as operating with “massive deficits” and little near-term path to profitability. CEO actions: Since taking over in January 2025, CEO Scott O’Neil has pushed changes intended to bolster legitimacy — securing official world ranking points, extending tournaments to the standard 72-hole format and creating clearer qualification paths for majors. Public Investment Fund: The PIF announced a new five-year strategy approved by Crown Prince Mohammed bin Salman that emphasizes building domestic ecosystems and maximizing long-term returns; the press release made no mention of LIV Golf. On-site signals: LIV's Manhattan offices at 50 Hudson Yards were observed open, with employees in LIV apparel and branded displays of players such as Bubba Watson, Jon Rahm and Dustin Johnson, though the C-suite was reported to be in Mexico and office staff declined to comment. Outlook With the PIF signaling a strategic shift and refusing to publicly address LIV in its new five-year plan, the league faces a precarious near-term outlook. CEO Scott O’Neil has acknowledged the long runway to profitability — telling the Financial Times in February that LIV was "5-10 years from turning a profit" — but the combination of multibillion-dollar capital exposure and consecutive large losses has left the league searching for alternatives. Sources told The Athletic that leadership is pursuing potential deals to sustain operations on a smaller budget and weighing options to continue without PIF funding, but the ultimate path forward remains uncertain as the Mexico City event proceeds under a cloud of instability. --- ## Dubai completes world’s first purpose-built flying taxi station URL: https://startupsmena.com/dubai-completes-worlds-first-purpose-built-flying-taxi-station-mo3eir39 Date: 2026-04-17 Category: tech Tags: **Summary:** Dubai has completed the world's first purpose-built flying taxi station, with commercial operations by Joby Aviation expected to launch by year-end. Dubai has completed the world’s first purpose-built flying taxi station, officials said, with commercial operations by California-based Joby Aviation expected to begin by the end of the year. The facility — described by the emirate’s authorities as the “first of its kind in the world” — was inspected by Sheikh Hamdan bin Mohammed, crown prince of Dubai and United Arab Emirates deputy prime minister, the emirate’s media office said. "The launch of the Air Taxi infrastructure marks an important step in adopting new, sustainable modes of transport and strengthening Dubai's readiness for the decades ahead," said Sheikh Hamdan in the statement. Station features and capacity Dubai’s new Air Taxi Station, located near Dubai International Airport (DXB), is a purpose-built hub for electric vertical take-off and landing (eVTOL) operations. Authorities highlighted the following features: Four floors with a total area of 3,100 square metres A two-level car park Two Air Taxi take-off and landing pads Dedicated charging infrastructure for eVTOL aircraft Capacity to accommodate up to 170,000 passengers per year The media office said the station will serve as "the main hub for Air Taxi operations" and that three more flying taxi stations are planned across the emirate. Flights operating from the hub will be run by Joby Aviation, which will hold exclusive operating rights for six years. Operational details and partners Joby Aviation, the California-based eVTOL company named in the statement, is slated to operate the initial commercial services. The emirate’s announcement did not specify ticketing, route maps, or exact launch dates beyond the expectation that commercial operations will begin by year-end. Photo credit on the announcement was given to the Arabian Business Agency, and the media office release framed the project as part of Dubai’s wider push into new modes of, and infrastructure for, sustainable transport. Outlook With the Air Taxi Station complete, Dubai aims to position the facility as the operational heart of an emerging urban air mobility network. The six-year exclusivity granted to Joby Aviation affords the company a foothold in the Gulf emirate’s nascent market while three additional stations are developed to expand capacity. The announcement comes against a backdrop of regional tensions: the source article noted recent attacks launched by Iran against Gulf neighbours and a subsequent two-week ceasefire, underlining the security sensitivities that accompany major transport projects in the region. Dubai’s authorities framed the station as a long-term, sustainable transport investment intended to bolster the city’s readiness for future demand. --- ## Khabib Nurmagomedov launches $70m luxury residential venture on Dubai Islands URL: https://startupsmena.com/khabib-nurmagomedov-launches-70m-luxury-residential-venture-on-dubai-islands-mo35k8db Date: 2026-04-17 Category: tech Tags: **Summary:** DIA Holding partners with UFC legend Khabib Nurmagomedov to launch the $70 million LuzOra Residences on Dubai Islands, blending luxury living with strong investor demand. DUBAI — UFC legend Khabib Nurmagomedov has teamed up with DIA Holding to launch LuzOra Residences, a $70 million luxury serviced-residence project on Dubai Islands that blends hospitality-style services with long-term ownership. The development, the first in a series of joint ventures between the international construction manager and the sport icon, allocates 70 percent of units to investors and 30 percent to end-users. Early demand has been strong: 38 percent of units are already sold or reserved. "shared commitment to discipline, precision, and consistent delivery," said Faruh Kurbanov, Founder of DIA Holding, describing the collaboration and the alignment of values between the company and Nurmagomedov. LuzOra Residences is being positioned as a branded, hybrid hotel-and-residence product with construction having started in October 2025 and the project currently approximately 10 percent complete at ground floor level. Handover is scheduled for August 2027. One-bedroom apartments start from Dh1.7 million, and investors are being pitched projected rental yields starting from 8 percent, with average yields around 10 percent. "success in both sport and business is rooted in discipline and teamwork," said Khabib Nurmagomedov, who is a partner at DIA Holding. He added that the partnership "extends beyond construction, focusing instead on creating spaces where residents can live, grow, and build long-term futures." His involvement is expected to continue across future DIA Holding developments, including a branded project the company says will be announced within the next 12 months. Project features and security for investors Escrow-backed framework to provide financial protection and transparency for buyers. Operational and lifestyle amenities including smart lock entry systems, EV charging stations, private storage, complimentary golf cart transport across Dubai Islands, a swimming pool, and a fully equipped fitness centre. Design and delivery partners: Urban Habitat is the appointed project consultant and Al Tamayouz LLC serves as the main contractor. DIA Holding, which has a portfolio of more than 25 projects covering over 783,000 square metres, said LuzOra was structured to appeal to a mixed buyer profile and to capture investor interest in island-based lifestyle assets. The escrow-backed model is highlighted as a differentiator in Dubai’s competitive market, aimed at reassuring international buyers concerned about capital protection and delivery timelines. Outlook The launch of LuzOra comes as Dubai Islands continues to attract lifestyle-focused capital, and DIA Holding’s founders are leveraging Nurmagomedov’s profile to broaden appeal among global investors. With nearly four in ten units already sold or reserved and handover targeted for August 2027, the project will serve as an early test of appetite for branded, hybrid residential products on the man-made archipelago. DIA’s promise of further branded projects in the next 12 months signals a sustained push into hospitality-linked ownership schemes across the UAE. --- ## Tyga Enters 1win VIP Program, as Platform Blends Crypto and Entertainment URL: https://startupsmena.com/tyga-enters-1win-vip-program-as-platform-blends-crypto-and-entertainment-tech-startups-mo31bfyt Date: 2026-04-17 Category: tech Tags: **Summary:** Dubai, UAE, April 16th, 2026, PlayNewswire · 1win continues to evolve its VIP ecosystem, bringing global rapper Tyga into its high-tier community while reinforcing its positioning as a crypto-first en Tyga Enters 1win VIP Program as Platform Pushes Crypto-Driven Entertainment Dubai, UAE — April 16, 2026 — 1win has added global rapper Tyga to its high-tier VIP community, the company confirmed following social media speculation after the artist was spotted boarding a branded 1win private jet and sharing content tied to the brand. PlayNewswire reported the activation on April 16, and confirmation was subsequently published via the 1win Owner’s official channels on X and Telegram. "The experience reflected 1win’s signature approach to its top-tier clients: 'personalized, highly exclusive, and luxury activations,'" the company said in materials distributed around the activation. According to sources close to the activation cited by PlayNewswire, Tyga’s welcome package included a private jet flight and what the outlet described as a "genuinely VIP gift" — a heritage model Audemars Piguet Royal Oak 14700BA watch. The move follows a continuing pattern from 1win of incorporating high-profile figures directly into its ecosystem rather than using traditional endorsement models. 1win positions itself as a "crypto-first platform designed for a fast, seamless user experience," offering quick transactions in multiple digital assets including BTC, ETH, TRX, TON and SOL. The company also markets crypto-specific incentives such as bonuses of up to 600% on deposits. Founded in 2016, 1win operates across Asia, Latin America and Africa and has built a roster of high-visibility partnerships: actor Johnny Sins became a brand ambassador in 2024, MMA legend Jon Jones joined as global ambassador in 2025, and rising UFC star and Tokyo 2020 Olympic gold medalist Gable Steveson joined the global ambassador team earlier this year. Activation highlights: private jet transport and a heritage Audemars Piguet Royal Oak 14700BA awarded to Tyga. Confirmation channels: 1win Owner’s official accounts on X and Telegram. Crypto assets supported: BTC, ETH, TRX, TON, SOL; deposit bonuses up to 600%. Geographic footprint: Asia, Latin America, Africa; founded 2016. Past VIP services: private jet evacuations for top users during travel disruptions, luxury cars, and private tours to sports and art events. Industry observers say the Tyga activation underscores 1win’s strategy of blending product, service and culture to deepen engagement among high-value customers. The platform has previously arranged "private jet evacuations" for its top users during regional travel disruptions in the Middle East and routinely offers luxury gifts and exclusive experiences to VIP members. Outlook: By integrating entertainment figures like Tyga into hands-on VIP activations, 1win appears to be doubling down on a model that links crypto utility with lifestyle and status. The company’s continued emphasis on high-touch, luxury activations and its crypto-first product stack could accelerate its visibility in the iGaming and Web3 spaces, particularly across its existing markets in Asia, Latin America and Africa. Media inquiries regarding the activation were directed to 1win’s press office at press@1win.pro. --- ## MENA startup funding slumps as geopolitical tensions dampen investor onfidence URL: https://startupsmena.com/mena-startup-funding-slumps-as-geopolitical-tensions-dampen-investor-onfidence-funds-global-mena-mo31fpgg Date: 2026-04-17 Category: funding Tags: funding, MENA, geopolitics, fintech, Yaakey, UAE, Morocco **Summary:** Startup funding across MENA fell sharply in Q1 2026 to $941 million amid geopolitical tensions that chilled investor sentiment; activity was concentrated in the UAE, with fintech capturing the largest share of capital. Morocco's funding included a notable $15 million Series A for Yaakey. Startup investment across the Middle East and North Africa (MENA) plunged in the first quarter of 2026, with total funding reaching $941 million — a decline of 21.5% from the previous quarter and 37% year‑on‑year, according to a Funds Global MENA analysis. January posted strong activity with nearly $500 million across 59 deals, but geopolitical tensions involving the US, Israel and Iran, and a disruption to maritime trade after Iran moved to block the Strait of Hormuz, helped precipitate a sharp cooling in dealflow. By March, only 17 startups raised under $50 million in total. Funds Global MENA said, "Funding activity slowed dramatically, with just 17 startups raising under $50 million in total, marking one of the weakest months in recent years." Regional and sector breakdown The UAE retained its position as the dominant investment hub despite the slowdown, drawing $625.8 million across 46 deals in Q1. Saudi Arabia recorded activity from 57 startups that raised $156.7 million, while Egypt placed third with $86 million across 12 transactions. Morocco and Bahrain posted smaller but notable figures, with Morocco securing $22.6 million from six deals — helped by a $15 million Series A by Yaakey early in the quarter — and Bahrain raising $22 million across two deals. Total funding (Q1 2026): $941 million January: close to $500 million across 59 deals February: $326.6 million March: 17 startups raised under $50 million UAE: $625.8 million across 46 deals Saudi Arabia: $156.7 million (57 startups) Egypt: $86 million (12 transactions) Morocco: $22.6 million (six deals), including Yaakey $15 million Series A Bahrain: $22 million (two deals) By sector, financial technology continued to attract the most capital, accounting for 46% of total investment and drawing funding into 25 companies. Property technology (proptech) raised $228.6 million across 12 deals, while foodtech secured $60 million from three transactions. Alternative financing remained limited: debt funding comprised only 11% of capital deployed during the quarter. Stage, investor sentiment and immediate causes Investment activity favoured early‑stage companies in terms of deal volume: 110 startups raised $233 million collectively. Later‑stage funding was markedly subdued, with just seven deals accounting for $113 million — a sign of investor caution when it comes to scaling businesses amid geopolitical uncertainty. Market sentiment saw a brief uptick around expectations of diplomatic talks in Islamabad, but optimism evaporated when negotiations collapsed days later, reinforcing fears that the slowdown could persist into the second quarter. The report highlights that disruptions to shipping through the Strait of Hormuz and broader regional tensions materially affected risk appetites and deal execution. Outlook Funds Global MENA’s analysis warns the weak March performance and the swift reversal of diplomatic hopes could delay a recovery for the startup ecosystem in Q2. With later‑stage cheques scarce and investors prioritising risk management, the region’s ability to return to the levels of activity seen at the start of the year will likely depend on both a de‑escalation of geopolitical tensions and renewed confidence from institutional and crossover investors. --- ## Dubai Launches AI Workforce Transformation to Train 50,000 Government Employees for Smarter Public Services URL: https://startupsmena.com/dubai-launches-ai-workforce-transformation-to-train-50000-government-employees-for-smarter-public-se-mo2wqrw4 Date: 2026-04-17 Category: tech Tags: AI training, government, workforce development, Digital Dubai, public-sector **Summary:** Dubai launched the AI Workforce Transformation Programme (AI+) to train 50,000 government employees in practical AI skills, led by Digital Dubai in partnership with the Dubai Government Human Resources Department and the Dubai Centre for Artificial Intelligence under the Dubai Future Foundation. The programme aims to embed AI into day-to-day public-sector operations to boost productivity, service quality and innovation. Dubai has launched the AI Workforce Transformation Programme (AI+), a major training initiative that aims to equip 50,000 government employees with practical artificial intelligence skills to modernise public services, boost productivity and embed AI into day-to-day operations. The programme is led by Digital Dubai in partnership with the Dubai Government Human Resources Department and the Dubai Centre for Artificial Intelligence under the Dubai Future Foundation. "The initiative reflects a shift in how government employees interact with technology," said Hamad Obaid Al Mansoori, Director General of Digital Dubai. "Staff are no longer just users of digital systems but are becoming active contributors in designing smarter and more responsive services that meet people’s needs." Programme design and partners Officials say AI+ is designed to prepare government staff for a future in which AI plays a central role in decision-making, service delivery and everyday operations. The training will be tailored to job roles across all levels of government, from senior leadership to frontline staff, with the explicit goal of making AI "a practical part of government work rather than just a technical concept." The programme's organisers include Digital Dubai, the Dubai Government Human Resources Department and the Dubai Centre for Artificial Intelligence, operating under the Dubai Future Foundation. Target cohort: 50,000 government employees Lead agencies: Digital Dubai, Dubai Government Human Resources Department, Dubai Centre for Artificial Intelligence (Dubai Future Foundation) Programme name: AI Workforce Transformation Programme (AI+) Learning tracks and practical focus The AI+ curriculum will be structured into multiple learning tracks aligned to responsibilities and seniority. According to officials, senior leaders will attend sessions on AI strategy, global best practices and adoption challenges; Chief AI Officers will focus on applying Dubai’s AI policies through workshops and case studies; product and service owners will learn to turn ideas into practical AI solutions and measure impact; managers will be trained to integrate AI into team operations, improve workflows and identify automation use cases; and employees across departments will receive hands-on training in tools such as AI-powered productivity systems, automation and prompt engineering. "Investing in people remains central to Dubai’s development plans," said Abdulla Ali bin Zayed Al Falasi, Director General of the Dubai Government Human Resources Department. "The programme is designed to give employees practical, future-ready skills that improve efficiency, support innovation and encourage continuous learning across government departments." "The initiative marks an important step in expanding the use of AI across government entities," said Khalfan Belhoul, Chief Executive Officer of the Dubai Future Foundation. "The focus is not only on technology but also on building strong human capabilities that can turn AI into real-world solutions that improve services and customer experience." Outlook Officials expect the AI+ programme to strengthen digital skills across government, accelerate service delivery and underpin long-term innovation by embedding data-driven, efficient systems into public-sector workflows. By training 50,000 employees, Dubai aims to position its public services to harness AI for better decision-making, faster processes and improved customer experiences, reinforcing its stated ambition to lead in digital transformation. --- ## Abu Dhabi pushes AI-ready workforce strategy through Mawaheb talent hub URL: https://startupsmena.com/abu-dhabi-pushes-ai-ready-workforce-strategy-through-mawaheb-talent-hub-mo2um8lq Date: 2026-04-17 Category: tech Tags: **Summary:** Looking ahead, the department plans to introduce an AI-driven platform to identify skill gaps and guide talent into high-demand roles. By 2027, several advanced applications are expected to be launche The Department of Government Enablement in Abu Dhabi is accelerating efforts to build an AI-ready workforce through the Mawaheb Talent Hub, an initiative that trained more than 10,000 people and facilitated over 6,000 job placements in 2025 alone. The hub — which has expanded its reach into Al Ain and Al Dhafra — combines upskilling, career development and direct employer matching to prepare Emirati talent for emerging economic demands and strategic sectors. "an integrated platform designed to go beyond conventional hiring models," the Mawaheb Talent Hub says on its objectives, highlighting a shift from simple recruitment toward sustained workforce development and labour-market alignment. The hub offers a range of programmes including career counselling, specialised training and remote-work initiatives run in collaboration with firms such as G42. It has also staged open hiring events to connect job seekers directly with employers across industries, a model that contributed to the platform’s reported scale of impact during 2025. Partnerships and programme details Academic alliances: Khalifa University and ADGM Academy, focused on closing skill gaps and developing sector-specific competencies. Industry partners: ADNOC and Mubadala, which help align talent pipelines with strategic energy and investment sectors. Global technology collaborators: Microsoft, Binance and LinkedIn, providing advanced training in digital technologies and artificial intelligence. Private-sector collaborations: programmes and remote-work initiatives delivered with firms including G42. The Department of Government Enablement frames Mawaheb as a response to shifting labour-market needs rather than a traditional recruitment portal. By linking training to placement and expanding geographic access into Abu Dhabi’s Al Ain and Al Dhafra regions, the hub aims to widen meaningful employment opportunities while targeting areas of strategic national interest. Looking ahead, officials plan to roll out an AI-driven platform intended to "identify skill gaps and guide talent into high-demand roles." That platform is part of a broader timetable in which the department expects "several advanced applications" to be launched by 2027, signalling a move to embed machine learning and automation in workforce planning and talent-matching processes. For employers, the hub’s model promises a more predictable pipeline of candidates whose skills are shaped to sector needs; for jobseekers, the emphasis on counselling, specialised training and direct employer engagement is designed to reduce friction between training and employment. The combination of government direction, academic input and global tech partnerships positions Mawaheb as a central element of Abu Dhabi’s strategy to align human capital with AI-driven economic transformation. --- ## West Asia crisis hits Dubai real estate: Will it boost high-end luxury property investment in India? URL: https://startupsmena.com/west-asia-crisis-hits-dubai-real-estate-will-it-boost-high-end-luxury-property-investment-in-india-t-mo2uhsw5 Date: 2026-04-17 Category: tech Tags: **Summary:** Dubai's property market is experiencing a slowdown due to regional geopolitical tensions. This is causing investors to look towards India for real estate opportunities. Cities like Gurugram and Mumbai Rising geopolitical tensions in West Asia have cooled activity in Dubai’s property market, driving some investors to reconsider allocations and look to India’s luxury housing segment. Official Dubai Land Department data show transactions fell 14% in the first two weeks of April compared with the same period last year, with 6,535 deals recorded between April 1 and April 14 versus 7,563 a year earlier. New rental demand has also dropped, prompting brokers and developers to flag a shift in sentiment among high-net-worth and NRI buyers. "From a developer’s point of view, we are clearly seeing a shift in investor sentiment. While Dubai has traditionally been a preferred destination for global real estate investments, India today offers something far more grounded real demand, long-term growth, and infrastructure-driven appreciation. What makes India stand out right now is the depth of its market. There is genuine end-user demand, especially in emerging corridors where connectivity and infrastructure are rapidly improving. Locations around NCR, for example, are evolving quickly, and plotted developments are gaining strong traction because investors see them as both secure and scalable assets. Today’s investor is more informed and cautious. They are not just chasing short-term gains they are looking for stability, transparency, and future growth potential. With regulatory frameworks like RERA in place and continuous infrastructure upgrades, India is offering exactly that," said Aditya Goel, Co-Founder of One Prastha. Market details and recent transactions Activity in Dubai has shown mixed signals. While April’s first-half activity was 8% higher than March, March transactions themselves fell 11.4% year-on-year to 13,416 from 15,145, and month-on-month activity was down 21% from February. Select high-value deals continue to register: among the largest in April so far are an AED 171 million (₹439 crore) deal for an under-construction five-bedroom ultra-luxury apartment in Jumeirah Second and an AED 121 million under-construction apartment in Downtown Dubai. Price behaviour is fragmenting by developer size and asset readiness. Top developers have largely held prices, but smaller players are offering discounts and flexible payment plans. Market experts report ready or near-handover units being sold at 12–25% below peak prices in some segments, enabling end-users priced out of prime addresses to enter the market. Brokers also note enquiries improved following a temporary ceasefire in the region, but actual deal conversions remain sluggish. Dubai transactions (Apr 1–14): 6,535 vs 7,563 a year earlier (–14%) March transactions: 13,416 vs 15,145 a year earlier (–11.4%) Price discounts observed in some ready/near-handover properties: 12–25% Emaar Properties shares: down more than 26% on the Dubai bourse since the conflict began Notable deals: AED 171 million (₹439 crore) and AED 121 million under-construction apartments Outlook: India’s luxury housing in focus Industry leaders say the temporary cooling in Dubai is redirecting some capital to India’s premium housing markets, where demand is more end-user driven. Jagadish Prasad Naik, Chairman of DN Group, said, "India has clearly emerged as one of the most compelling real estate investment destinations globally, especially when compared to markets like Dubai. While Dubai continues to attract investors with its tax-friendly ecosystem, India offers a far more balanced and sustainable value proposition driven by strong end-user demand, rapid urbanisation, and long-term economic growth." Developers and brokers point to cities such as Gurugram and Mumbai, and emerging corridors including plotted developments around the NCR and cities like Bhubaneswar, as primary beneficiaries of this capital shift. With perceived stability, regulatory frameworks like RERA and ongoing infrastructure projects cited as key pull factors, India’s luxury housing segment is poised to capture greater attention from NRIs and domestic high-net-worth buyers reassessing risk amid regional uncertainty. --- ## UAE launches Dh100 million fund to boost non-profit sector URL: https://startupsmena.com/uae-launches-dh100-million-fund-to-boost-non-profit-sector-khaleej-times-mo2qkxok Date: 2026-04-17 Category: funding Tags: non-profit, funding, UAE, community, volunteering **Summary:** The UAE launched a Dh100 million Non-Profit Organisations Empowerment Fund to provide staged financial support and capacity building for non-profits, with applications open until May 31, 2026. The fund offers up to Dh500,000 for newly established organisations and up to Dh5 million for more mature entities, prioritising projects that boost social stability and community cohesion. The UAE has activated a Dh100 million Non-Profit Organisations Empowerment Fund, the Ministry of Community Empowerment announced on Thursday, launching a structured, results-driven mechanism to scale community impact and strengthen the role of non-profits across the country. The fund, disclosed in a statement reported by Khaleej Times, will provide staged financial support to organisations at different phases of development, with applications open to eligible non-profits registered in the UAE until May 31, 2026. “Non-profit organisations play a vital role in fostering community cohesion and supporting national priorities,” said Shamma bint Sohail Al Mazrouei, underscoring the strategic intent behind the initiative. “This fund enables them to deliver impactful initiatives that bring people together and contribute to a more resilient and united society.” Design and funding tiers Launched by the Ministry of Community Empowerment, the Non-Profit Organisations Empowerment Fund is designed to move from broad-based assistance to targeted, measurable outcomes. Under the new model, newly established organisations can access up to Dh500,000 to build operational capacity and establish foundational programmes. More mature entities will be eligible for awards of up to Dh5 million intended to expand initiatives and scale measurable impact. Fund size: Dh100 million Support for startups: up to Dh500,000 Support for mature organisations: up to Dh5 million First application window: open until May 31, 2026 Priority areas and selection process The fund’s first cycle will prioritise projects that promote social stability and community cohesion, with a focus on delivering targeted, high-quality support to individuals and families. Key sectors in scope include education, health and wellbeing, community development, family support, volunteering and non-profit enablement, as well as environment and animal welfare. Proposals submitted to the fund will be assessed through a structured evaluation process led by a specialised committee. Officials said assessments will be based on three principal criteria: organisational capacity, impact potential, and financial feasibility. Shortlisted applicants may be invited to present their proposals as part of the selection process, signalling an emphasis on both plan robustness and the ability to demonstrate measurable outcomes. Context and outlook The initiative is part of the Volunteering and Community Engagement Ecosystem, a framework approved by the UAE Cabinet under the vision of Mohammed bin Rashid Al Maktoum to enhance the impact of volunteering and strengthen the third sector. Officials describe the fund as a strategic platform to strengthen collaboration across government, non-profits, and the private sector while ensuring initiatives deliver sustainable, long-term community impact. With the first application window running through late May, non-profits across the UAE face a defined opportunity to access capital and capacity-building support. The fund’s emphasis on measurable outcomes and staged funding aims to professionalise the sector’s approach to program delivery, offering a potential pathway for community initiatives to grow into nationally significant programmes. --- ## Egypt’s $60 billion FDI ambition signals a new phase of economic momentum URL: https://startupsmena.com/egypts-60-billion-fdi-ambition-signals-a-new-phase-of-economic-momentum-fast-company-middle-east-the-mo2m1x5g Date: 2026-04-17 Category: funding Tags: Egypt, FDI, foreign investment, manufacturing, renewable energy, infrastructure, technology, Fitch **Summary:** Egypt has set a $60 billion foreign direct investment (FDI) target, with Fitch saying the country is well-positioned to attract capital across manufacturing, renewable energy, infrastructure and technology, though details on timelines and allocation remain unclear. Egypt has set a $60 billion foreign direct investment (FDI) target that signals a fresh phase of economic momentum, according to reporting by Fast Company Middle East. Credit ratings agency Fitch told Fast Company that Egypt is “well-positioned to attract foreign investment across manufacturing, renewable energy, infrastructure, and technology,” placing the country on investors’ radars as it seeks large-scale capital inflows. “Fitch says Egypt is well-positioned to attract foreign investment across manufacturing, renewable energy, infrastructure, and technology,” the report states, underscoring the agency’s view that multiple sectors could draw the bulk of the intended $60 billion in FDI. Context and details The Fast Company Middle East coverage frames the $60 billion ambition as part of a broader narrative of renewed economic activity in the region. Fitch’s assessment identifies specific sectors expected to be the focal points for incoming capital: Manufacturing Renewable energy Infrastructure Technology While the Fast Company summary does not provide a breakdown of how the $60 billion would be allocated across those industries, the inclusion of renewable energy and infrastructure alongside manufacturing and technology reflects common investment priorities in emerging market strategies, where large-scale projects and industrial expansion often require significant overseas financing. The Fast Company Middle East site positions the Egypt story alongside a slate of regional business and policy developments, suggesting a competitive environment for capital across the Middle East. Other headlines on the platform include moves such as Dubai’s large-scale AI workforce programme targeting 50,000 employees and trade and logistics actions by AD Ports Group, indicating overlapping regional priorities in technology, infrastructure and trade facilitation. Outlook Fitch’s endorsement — that Egypt is “well-positioned” to attract investment — offers a market-facing validation that could help Cairo crystallise investor interest, provided the country can translate the ambition into concrete projects, regulatory clarity and financing structures. Achieving a $60 billion FDI inflow would require coordinated efforts across policy, project preparation and investor engagement, and would likely unfold over several years given the scale involved. Fast Company Middle East’s reporting highlights the headline ambition and Fitch’s sector-specific confidence, but leaves open questions about timelines, sources of the capital, and the specific programmes or incentives Cairo will deploy to meet the target. For now, the $60 billion figure stands as a clear indicator of Egypt’s strategic goal to accelerate investment-led growth across manufacturing, renewable energy, infrastructure and technology. --- ## Registration now open for media and visitors to attend Make it in the Emirates 2026 URL: https://startupsmena.com/registration-now-open-for-media-and-visitors-to-attend-make-it-in-the-emirates-2026-mo2cio11 Date: 2026-04-17 Category: other Tags: events, industrial, manufacturing, investment, ICV, ADNEC, MoIAT **Summary:** Make it in the Emirates (MIITE) 2026 has opened media and visitor registration for its largest edition to date, taking place 4–7 May 2026 at ADNEC Centre Abu Dhabi. The event, hosted by MoIAT and organised by ADNEC Group (part of Modon), aims to convene policymakers, investors, manufacturers, startups and entrepreneurs to drive procurement, offtake, financing and partnerships that accelerate industrial self-sufficiency. The UAE’s industrial platform Make it in the Emirates (MIITE) has opened registration for media and visitors to attend its fifth and largest edition, taking place at ADNEC Centre Abu Dhabi from 4 to 7 May 2026. Hosted by the Ministry of Industry and Advanced Technology (MoIAT) and organised by ADNEC Group, a Modon company, in strategic partnership with the Ministry of Culture, Abu Dhabi Investment Office and ADNOC, the event will use the theme “Emerging Stronger” and expand participation, exhibition space and programming compared with previous years. “MIITE has driven AED 473Bn+ into the national economy through the In-Country Value (ICV) programme,” the organisers note, highlighting the platform’s role in converting policy into commercial outcomes. Event scope and organisers Make it in the Emirates 2026 will convene policymakers, industry leaders, global investors, entrepreneurs and innovators across 12 industrial sectors, including advanced manufacturing, artificial intelligence (AI), metals and fabrication and handicrafts. The fifth edition is positioned to support procurement and offtake agreements, financing solutions and strategic partnerships aimed at accelerating industrial self-sufficiency and sustainable value creation. Dates and venue: 4–7 May 2026 at ADNEC Centre Abu Dhabi — the ADNEC Centre is described by organisers as the largest event venue in the MENA region. Organisers and partners: Hosted by the Ministry of Industry and Advanced Technology (MoIAT); organised by ADNEC Group, part of Modon Holding; strategic partners include the Ministry of Culture, Abu Dhabi Investment Office and ADNOC. Scale: The organisers say the 2026 edition will be the largest to date in terms of participation, space and expected attendance. Policy and economic context MIITE is presented by MoIAT as the UAE’s annual national platform for driving industrial growth, supporting the National Industry and Advanced Technology Strategy and broader national visions such as “We the UAE 2031” and “UAE Centennial 2071”. The platform has been credited with mobilising investment and expanding market access through the UAE’s Comprehensive Economic Partnership Agreements (CEPAs). In addition to events and exhibitions, the MIITE platform is used to launch and scale initiatives including the National In-Country Value (ICV) Programme and the Technology Transformation Program (TTP). According to the organisers, these programmes connect manufacturers, investors, startups and entrepreneurs to offtake opportunities and financing solutions that enable business growth and strengthen supply chain resilience. Industry participation and ADNEC Group role The 2026 exhibition will feature participation from small and medium-sized enterprises (SMEs) and large-scale multinational corporations, with organisers indicating a diverse mix of exhibitors across priority industrial sectors. ADNEC Group — part of Modon Holding and operator of the ADNEC Centre Abu Dhabi — will deliver event operations through its venues and events clusters, including Capital Events and Capital 360 Event Experiences. Modon is listed on the Abu Dhabi Securities Exchange (ADX) and describes its primary business sectors as real estate, hospitality, asset management, investments, events and tourism. Media representatives and visitors are invited to register to attend the event via the Make it in the Emirates official channels. For further information and media enquiries, organisers provide the MoIAT contact media@moiat.gov.ae and direct readers to www.moiat.gov.ae. --- ## AI Startup Funding Report 2026: What the Numbers Actually Say URL: https://startupsmena.com/ai-startup-funding-report-2026-what-the-numbers-actually-say-mo2b87uq Date: 2026-04-17 Category: funding Tags: ai, funding, seed, series-a, late-stage, EU AI Act, Middle East **Summary:** Global AI startup investment rose to about $130B in 2026 while deal counts fell and capital concentrated into mega-rounds; seed activity stayed strong but Series A conversion weakened, and sovereign and strategic investors reshaped late-stage rounds. Global investment into AI startups surged to roughly $130 billion in 2026, up from $97 billion in 2025, but the headline number masks a bifurcated market: deal count fell about 14% even as capital concentrated into mega-rounds and a shrinking set of winners. Quarterly estimates show volatility — Q1 at ~$38B, Q2 ~$28B, Q3 ~$31B and Q4 ~$35B — and at least 11 rounds cleared the $500M mark as late-stage and crossover investors chased proven outcomes. Seed activity remained sizable — roughly 3,200 seed-stage AI deals closed with an average round size of $4.8M — but Series A conversion slipped to roughly 18% from 24% in 2024, leaving many mid-stage companies stranded. "The barbell effect is in full swing," the report notes, capturing how mega-rounds above $500M and sub-$3M micro-rounds have squeezed out the middle. Context and details Stage dynamics: Median pre-money valuation for AI Series A rounds was about $45M. Investors raised the bar: founders now face demands for $1M+ ARR and net revenue retention above 120% to earn Series A follow-ons. Seed ecosystem: Top seed investors included Y Combinator and Sequoia Scout, with San Francisco, London and Bangalore dominant as seed hubs. Late-stage concentration: Secondary market activity hit record highs for pre-IPO AI equity; crossover hedge funds, sovereign wealth funds and corporate strategics piled into proven winners. Sectors: Foundation models remain a major capital sink — the top five foundation model companies captured more than 40% of LLM-specific funding — while enterprise AI and vertical SaaS quietly attracted steady checks across legal, procurement, compliance and logistics use cases. Specialized winners: Biotech and drug-discovery AI commanded premium valuations when tied to clinical-stage assets; Novo Holdings, Roche Venture Fund and Amgen Ventures were notable corporate backers. Humanoid robotics and physical AI drew large institutional rounds, with multiple $200M+ financings reported in robotics and automation. Unit economics mattered: Series B revenue multiples compressed to roughly 15–20x ARR, down from the 30x+ highs of 2023, and investor tolerance for “we’ll monetize later” strategies evaporated. Major investors: Andreessen Horowitz, Sequoia, Lightspeed, Accel, Index Ventures, Khosla Ventures and Founders Fund led by deal count, while corporate VCs including Google Ventures, Microsoft’s M12, Nvidia’s NVentures, Salesforce Ventures and Amazon’s Alexa Fund stepped up strategic checks. Sovereign and government capital: Saudi Arabia’s PIF, Abu Dhabi’s Mubadala and MGX, plus Singapore’s GIC and Temasek, wrote nine-figure checks that reshaped late-stage rounds. EU AI Act enforcement nudged European government-backed funds toward "safe" compliance-focused AI investments. Outlook The IPO window, which had been closed since 2022, reopened mid-2026, drawing public-market validation that encouraged crossover investors into private rounds — but SPACs remain dormant. The net effect for founders is stark: if a company demonstrated strong revenue and defensible technical differentiation, capital was plentiful; if it sat in the middle without measurable economics, follow-on funding dried up. Expect 2027 to be a test of execution rather than vision, with investor dollars increasingly reserved for companies that can show durable revenue, margins and regulatory navigation. --- ## Saudi Arabia's Public Investment Fund set to cut funding for LIV Golf URL: https://startupsmena.com/saudi-arabias-public-investment-fund-set-to-cut-funding-for-liv-golf-mo29hvgt Date: 2026-04-17 Category: tech Tags: **Summary:** The future of LIV Golf appears to be in question. The Financial Times’ Samuel Agini, Arash Massoudi and Sujeet Indap report Saudia Arabia’s Public Investment Fund (PIF) is on the verge of cutting its Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is reported to be on the verge of cutting its financial support for LIV Golf, putting the breakaway tour’s future in doubt. The Financial Times, in a report by Samuel Agini, Arash Massoudi and Sujeet Indap, said a decision on the kingdom’s backing could come as early as Thursday. The PIF has already spent a reported $5 billion (U.S.) on the league since its debut in June 2022. “Of course the war would add more pressure to reposition some priorities,” Yasir al‑Rumayyan, a senior PIF official who was instrumental in launching LIV, told the Financial Times as the fund outlined a tighter five‑year investment strategy. Those comments came as the PIF moves to reallocate capital and narrow where it spends, a shift that follows large past allocations to global sporting assets including Formula 1 races, tennis and European soccer. The FT report framed the potential withdrawal as part of a broader repositioning of PIF commitments amid geopolitical pressures and a new strategic review. Immediate implications and unanswered questions An abrupt end to PIF support would have multiple knock‑on effects. LIV operates under an awkward U.S. television arrangement with Fox and has struggled to fully penetrate the U.S. market despite gaining traction internationally. The league currently lists 57 players on its roster, including Canadian Richard T. Lee, who joined this year. Player contracts and payments: It is unclear how a shutdown would affect high‑value contracts for stars such as Jon Rahm and Bryson DeChambeau, and whether they would be paid in full. Return to established tours: Questions remain over whether and on what terms LIV players could rejoin the PGA Tour or the DP World Tour. Earlier returns by former LIV players Brooks Koepka and Patrick Reed involved fines and restrictions before they were allowed back to PGA competition. Competition access and rankings: Major championships—organised independently of the PGA Tour—have begun to make limited provisions for LIV players, and the league has only recently started to receive Official World Golf Ranking points after extending events from three rounds to four. Context and current state The report emerged as LIV prepared for an event in Mexico City, with players reportedly unaware of the potential funding decision and preparing to play the first round. LIV launched in June 2022 with major financial backing from the PIF and significant publicity; the fund’s reported $5 billion investment has been central to LIV’s ability to recruit top players and stage international events. Outlook If the PIF terminates or reduces funding, the league faces an uncertain future. Beyond immediate contractual and competition questions, the move would mark a reputational setback for Yasir al‑Rumayyan and reshape the landscape created since LIV’s founding. For now, players, organisers and rival tours await confirmation of the PIF’s decision and its implications for events, contracts and the wider professional golf calendar. --- ## LIV Golf 2026 season to continue with Saudi funding URL: https://startupsmena.com/liv-golf-2026-season-to-continue-with-saudi-funding-mo29eond Date: 2026-04-17 Category: tech Tags: **Summary:** LIV Golf's 2026 season will proceed as scheduled with full backing from Saudi Arabia's Public Investment Fund, sources say. LIV Golf's 2026 season will proceed as scheduled with full funding from Saudi Arabia's Public Investment Fund (PIF), sources told Reuters, ensuring the remaining nine events on the 14-tournament calendar will go ahead. The decision rebuts recent reports suggesting the PIF was considering cutting support for the rebel circuit and follows weeks of speculation about the tour's long‑term viability. Statement from LIV Golf CEO In an email to players seen by Reuters, LIV Golf CEO Scott O'Neil wrote: "Our season continues exactly as planned, uninterrupted and at full throttle. While the media landscape is often filled with speculation, our reality is defined by the work we do on the grass. We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before." O'Neil framed the reports as part of the "moments of pressure" the startup movement signed up for and vowed to "put on the most compelling show in sports." The confirmation from sources familiar with the PIF's investment and LIV operations arrives after The Daily Telegraph and the Financial Times reported that LIV executives had been summoned to an "emergency meeting" in New York and that the PIF was on the verge of reducing support. Reuters' reporting — by Frank Pingue in Toronto and edited by Clare Fallon and Lincoln Feast — cites those close to the PIF and LIV who said funding would continue for the nine remaining events. Former Masters champion Sergio Garcia, who joined LIV in 2022, said he had not heard of any change to the tour's backing. "No, honestly, we haven’t heard anything other than what Yasir (Al‑Rumayyan, LIV Golf Chairman) told us at the beginning of the year - that he’s behind us, that they have a long‑term project," Garcia told media in Mexico City. "And well, honestly, you know how these rumours are. There are always a lot of them. And I can’t tell you anything more than what we already know." LIV Golf, launched in 2022 and bankrolled by the PIF, has drawn major names with lucrative contracts and purses, including Bryson DeChambeau and Jon Rahm. The league has also been a flashpoint in wider golf politics: in June 2023 the PGA Tour, the PIF and the Europe‑based DP World Tour announced a framework to house commercial operations in a new entity, and that process has since involved outside investment such as Strategic Sports Group’s $1.5 billion initial put into PGA Tour Enterprises. Critics have decried LIV as a vehicle for the PIF to burnish Saudi Arabia’s reputation amid human rights scrutiny. Operationally, LIV officials were on site this week at Club de Golf Chapultepec in Mexico City for the sixth event of the season. The tour has recorded large crowds at recent stops — LIV Golf Adelaide drew more than 115,000 spectators, and the March event in South Africa exceeded 100,000 attendees — underscoring the circuit’s commercial traction even as several notable players, including Brooks Koepka and Patrick Reed, have departed. Remaining 2026 LIV Golf schedule and near‑term outlook LIV Golf Mexico City — Apr. 16–19, Club de Golf Chapultepec, Mexico City LIV Golf Virginia — May 7–10, Trump National Golf Club Washington, D.C. LIV Golf Korea — May 28–31, Asiad Country Club, Busan LIV Golf Andalucía — June 4–7, Real Club Valderrama, Sotogrande LIV Golf Louisiana — June 25–28, Bayou Oaks at City Park, New Orleans LIV Golf United Kingdom — July 23–26, JCB Golf & Country Club, Rocester LIV Golf New York — Aug. 6–9, Trump National (Bedminster), Bedminster LIV Golf Indianapolis — Aug. 20–23, The Club at Chatham Hills, Westfield LIV Golf Michigan (Team Championship) — Aug. 27–30, The Cardinal at Saint John’s Resort, Plymouth Looking ahead, the tour’s sustained PIF backing — Reuters sources indicate funding will remain in place and previous reporting notes that funding for the league topped $5 billion through February — buys LIV time to stage its remaining events and pursue commercial momentum. But the broader industry ramifications — from deferred merger talks to political scrutiny in Washington — mean the league’s future beyond 2026 will remain a closely watched story across golf and global sports finance circles. --- ## Aldar launches Yas Park Place near Disney Abu Dhabi with garden-led living concept URL: https://startupsmena.com/aldar-launches-yas-park-place-near-disney-abu-dhabi-with-garden-led-living-concept-mo21l2nu Date: 2026-04-16 Category: tech Tags: **Summary:** Aldar launches Yas Park Place on Yas Island, a garden-led residential community with sales starting April 16. Abu Dhabi developer Aldar Properties has launched the first phase of Yas Park Place, a garden-led residential community on the northern side of Yas Island, with sales for the initial release set to begin on Thursday, April 16. The mid-rise development, announced in a TravelsDubai report on 15 April 2026, sits overlooking Yas Central Park and is positioned close to the upcoming Disney Abu Dhabi resort and existing attractions including Yas Mall, Ferrari World Abu Dhabi, SeaWorld Abu Dhabi, Warner Bros. World Abu Dhabi, Yas Marina Circuit, Yas Waterworld, Yas Links and Topgolf. "Aldar launches Yas Park Place on Yas Island, a garden-led residential community with sales starting April 16," the report said, summarising the developer's new offering. Yas Park Place comprises six architecturally designed mid-rise buildings offering a mix of studios, one-, two- and three-bedroom apartments, plus two-bedroom duplexes. Each unit has been planned to maximise natural light and promote an indoor-outdoor flow, with layouts that prioritise functionality and connection to landscaped spaces. The development is set within a landscaped podium inspired by desert oases, which forms a central green sanctuary that weaves between the buildings and is intended to encourage movement, relaxation and social interaction. Garden-led design and amenities A themed podium with a sequence of gardens: an Aqua Garden with splash pads, arch jets and water features; a Reflective Garden with a plunge pool and shaded lawns; and a Zen Garden featuring yoga decks and meditation spaces. Co-working gardens with shaded seating for outdoor productivity, communal lawns and amphitheatre-style gathering spaces. Family and adult swimming pools, nature-focused play areas and indoor sports facilities to cater to residents of all ages. Direct access to the Yas Acres road network, purpose-built walking and cycling paths, and connectivity to the E11 highway linking to Abu Dhabi city, Zayed International Airport and Dubai. Beyond lifestyle amenities, Aldar has integrated sustainability measures across the scheme. The development is targeting an Estidama Pearl 3 rating and will incorporate energy-efficient systems, environmentally conscious materials and climate-responsive landscaping to enhance long-term environmental performance. Positioned within one of the UAE’s most active leisure and residential clusters, Yas Park Place aims to provide convenient access to a broad range of attractions while reinforcing the island’s residential offering. The project also sits close to Yas Acres Golf Country Club, further embedding it within an established residential and leisure ecosystem. Sales for the first phase open on April 16, providing buyers with a range of unit types on offer within a development Aldar describes as focused on "wellness, connectivity and convenience." As Aldar rolls out units, the scheme’s proximity to long-awaited projects such as Disney Abu Dhabi and established island destinations is likely to be a key part of its market appeal, especially for buyers seeking a community-oriented, garden-led living environment on Yas Island. --- ## UAE leads MENA startup funding in Q1 2026, raising $625.8 million across 46 deals URL: https://startupsmena.com/uae-leads-mena-startup-funding-in-q1-2026-raising-6258-million-across-46-deals-mo21fofc Date: 2026-04-16 Category: tech Tags: **Summary:** Startups in the UAE led regional funding in the first quarter of 2026, raising $625.8 million across 46 deals. In the Middle East and North Startups in the United Arab Emirates led MENA funding in Q1 2026, raising $625.8 million across 46 deals as the region recorded $941 million in total funding for the quarter, a 21.5 percent quarter-on-quarter decline and a 37 percent year-on-year drop, according to a Wamda report highlighted by Yara Abi Farraj. The contraction came as escalating geopolitical tensions and supply-chain disruptions weighed on investor sentiment and deal activity. "Just 17 startups raised less than $50 million in total in March, reflecting a near standstill in deal activity," the report noted, capturing the sharp slowdown that followed a relatively strong January. January optimism gave way to geopolitical headwinds Wamda’s data show the year opened with nearly half a billion dollars deployed across 59 deals in January, but by mid-February rising tensions between the U.S., Israel and Iran undermined investor appetite. The report cites tangible economic consequences from the conflict, including disruptions to seaborne logistics after Iran's blockade of the Strait of Hormuz, which "heightened global risk exposure and reinforced investor caution across the region." Country-level performance was uneven. After the UAE, Saudi startups raised $156.7 million across 57 deals, while Egyptian startups attracted $86 million in 12 transactions. Morocco showed resilience with $22.6 million across six deals — driven largely by Yaakey’s $15 million Series A in January — and Bahrain recorded $22 million from two transactions. Sectoral and stage breakdown "Fintech once again led sectoral funding, accounting for 46 percent of total investment, with 25 startups raising the largest share of capital." Proptech secured $228.6 million across 12 deals, and foodtech raised $60 million through three transactions. Debt financing accounted for just 11 percent of total funding in Q1. Early-stage activity dominated by count: 110 startups raised a combined $233 million. By contrast, seven late-stage rounds accounted for $113 million, underscoring a slowdown in growth-stage capital deployment. B2B startups led deal activity with 74 transactions worth $199 million, while B2C startups captured the majority of capital — $564.6 million across 43 deals. The report also highlighted stark funding disparities by gender: "Only five women-led startups raised capital during the quarter, securing a combined $500,000," while male-founded startups accounted for roughly 98 percent of total funding, raising about $924 million. Outlook "The outlook for MENA startup funding in the second quarter remains uncertain," the Wamda report warned, pointing to prolonged geopolitical instability, elevated oil prices and possible inflationary pressures — particularly in fragile economies such as Egypt — as headwinds likely to keep investors cautious. The report anticipates a moderation of the recent investment momentum in the GCC as deployable capital is delayed pending greater clarity on the regional security landscape. --- ## ‘Morocco Venture Forum 2026’ Connects Global Investors with Local Venture Funds URL: https://startupsmena.com/morocco-venture-forum-2026-connects-global-investors-with-local-venture-funds-mo20ukqz Date: 2026-04-16 Category: tech Tags: **Summary:** She noted that the forum seeks ... into Morocco to move from a promising ecosystem to a top-tier investment hub.” ... Discussions highlighted that beyond capital, founders are increasingly looking for Global limited partners (LPs) and Moroccan general partners (GPs) convened at Technopark Casablanca on April 15, 2026, for the inaugural Morocco Venture Forum 2026, an event designed to connect international institutional capital with local venture funds. Organized by Silicon Badia, Plug and Play, and the Ministry of Digital Transition and Administrative Reform, the one-day forum combined panels and curated networking to position Morocco as a more attractive destination for venture capital and to showcase emerging regional fund managers to global investors. "The forum seeks to 'address the need to inject more capital into Morocco to move from a promising ecosystem to a top-tier investment hub,'" said Halima Zahzah, Country Director of Plug and Play Morocco, in an interview with Morocco World News. Context and details Organizers framed the event as a two-way bridge between international capital providers and local fund managers. Global LPs were given access to emerging Moroccan and regional venture capital firms, while local GPs were able to present their strategies and track records to institutional investors exploring opportunities in Morocco’s venture landscape. Panels and networking sessions focused on capital formation, ecosystem development, and investment readiness. Speakers emphasized that founders increasingly expect more than capital: operational support, connections to markets and networks, and early-stage credibility. Participants warned against passive capital; investors who provide funding without strategic involvement offer limited value to startups aiming to scale. Speakers at the forum also discussed the trajectory for Moroccan VCs, noting that building value-add capabilities is a gradual process. Emerging firms need time to develop the experience and networks common in more mature ecosystems, and participants urged that nascent funds not be held to mature-market standards too early. The conversation highlighted structural strengths—strong local talent, cost efficiency and growing ambition—while flagging challenges including the need for a more global mindset from the outset, simpler processes for startups operating internationally, stronger trust across the ecosystem, and improved access to growth-stage capital. Erass Majdoubeh, partner at Silicon Badia, pointed to rising momentum and increasing alignment between local and international investors. "We’re very excited about the impact that has been created so far. We have about 80 tech people working out of Morocco, selling into regional markets and now even into global markets," Majdoubeh told Morocco World News, citing early examples of Silicon Badia-backed startups such as Journify. Outlook Organizers and participants framed the Morocco Venture Forum as an early but practical step toward mobilizing international capital behind local managers, while also setting expectations about the time and experience required for local funds to become deeply value-adding partners. With government involvement through the Ministry of Digital Transition and Administrative Reform and continued engagement from regional playgrounds such as Silicon Badia and Plug and Play, the forum aimed to lay groundwork for increased LP interest and to accelerate the formation of growth-stage pools that Moroccan startups will need to scale internationally. --- ## Morocco emerges as Africa's drone hub as France's manufacturer expands operations URL: https://startupsmena.com/morocco-emerges-as-africas-drone-hub-as-frances-manufacturer-expands-operations-business-insider-afr-mo20rndy Date: 2026-04-16 Category: tech Tags: **Summary:** French drone maker Delair is setting up its African HQ in Morocco, signalling the country’s rising status as a defence tech hub amid growing demand for UAVs across Africa. | Business Insider Africa Lead French drone manufacturer Delair has chosen Rabat for its African headquarters and will launch a new subsidiary, Delair Africa, reinforcing Morocco’s emergence as a defence technology hub across the continent. The move, announced by the company, aims to improve responsiveness to African clients and to strengthen operational proximity in key markets where Delair has been active since the early 2010s, including Nigeria, Niger and Côte d’Ivoire. Financial terms of the Rabat expansion were not disclosed. Direct quote On the wider effort to build regional capacity, Christopher Donahue, commander of US Army Europe and Africa, said the planned US-backed training initiative in Morocco is designed to build “sustainable, enduring” capabilities that can be replicated elsewhere on the continent. Context and details Delair specialises in the design and operation of unmanned aerial vehicles (UAVs) and has steadily expanded its footprint in African security and commercial markets. The establishment of Delair Africa in Rabat follows an ongoing strategy of contracts and deployments across multiple countries and signals confidence in Morocco’s drone infrastructure and partnership environment. Morocco has invested in UAV capabilities in recent years: the country’s Royal Gendarmerie acquired around 15 DT-26 drones in 2021 for border surveillance operations. The country’s appeal as a continental base is further bolstered by deepening military cooperation with the United States. At the African Land Forces Summit in Rome, Washington announced plans to establish a regional drone training centre in Morocco to enhance operational capacity across African armed forces. The US training programme will begin with a pilot phase tied to the upcoming African Lion military exercises, one of the largest joint exercises on the continent. Analysts quoted in the reporting say the convergence of private-sector investment and international military collaboration positions Morocco at the centre of Africa’s drone ecosystem, combining manufacturing, training and operational deployment. Company: Delair (launching Delair Africa) Location: Rabat, Morocco (African headquarters) Regional presence: Nigeria, Niger, Côte d’Ivoire (contracts/deployments since early 2010s) Morocco defence procurement: ~15 DT-26 drones acquired by the Royal Gendarmerie in 2021 US involvement: regional drone training centre announced at African Land Forces Summit; pilot linked to African Lion exercises Financial details of Delair’s Rabat expansion: not disclosed Outlook By locating its African HQ in Rabat, Delair is betting on Morocco’s strategic position as a regional hub for drone manufacturing, training and operations. Observers say the tandem of private investment and multinational training initiatives could make Morocco a launch point for wider adoption of UAVs across African militaries and security services. While the scale of Delair’s investment remains unspecified, the company’s move underscores growing demand for surveillance and intelligence capabilities across the continent and signals rising global confidence in Africa’s defence technology market. --- ## How Morocco Just Signed Africa's Boldest Bet on Artificial Intelligence URL: https://startupsmena.com/how-morocco-just-signed-africas-boldest-bet-on-artificial-intelligence-africa-news-africacom-mo20yy87 Date: 2026-04-16 Category: tech Tags: **Summary:** The deal was brokered alongside ... for Investment and Export Development. It is explicitly tethered to Morocco’s Digital 2030 strategy, introduced in 2024, which targets raising the digital economy’s Morocco has signed what officials and industry observers are calling one of the largest single technology investments on the African continent: a $1.28 billion agreement with London-based Nexus Core Systems to build the Nexus AI Factory, billed as Africa’s first sovereign AI computing platform. The project, announced on the sidelines of GITEX Africa 2026 in Marrakech, is planned for Nouaceur, just south of Casablanca’s Mohammed V Airport, and is designed to deliver 500 megawatts of capacity powered entirely by renewable energy, running on Nvidia’s Blackwell GB200 GPUs. "Yesterday, I witnessed something historic," wrote US Ambassador to Morocco Duke Buchan III after watching the signing. What is being built The Nexus AI Factory is described as an integrated ecosystem combining a high-performance computing facility with a Centre of Excellence for skills development and an Innovation Hub to accelerate AI startups across the region. The backing for the project includes Nvidia, South Korea’s Naver Cloud, and global investment firm Lloyds Capital, forming an international consortium uncommon at this scale in African tech infrastructure. Headline investment: $1.28 billion. Planned compute capacity: 500 megawatts, powered by renewables; hardware will include Nvidia Blackwell GB200 GPUs. Consortium partners: Nexus Core Systems, Nvidia, Naver Cloud, Lloyds Capital. Government partners: Ministry of Digital Transition, Ministry of Investment, and the Moroccan Agency for Investment and Export Development. Project rollout will occur in phases. Phase one, sited in Nouaceur, carries an investment of 5 billion Moroccan dirhams and is expected to activate 16 megawatts of capacity by 2027 while creating 50 direct jobs. Phase two, planned for northern Morocco, will add 7 billion dirhams and 20 megawatts. Together, the two phases are projected to create 125 direct positions by 2027 — a number the article notes understates the wider economic activity infrastructure of this kind generates. The deal is explicitly tethered to Morocco’s Digital 2030 strategy, introduced in 2024, which targets raising the digital economy’s contribution to GDP to 5 percent and creating 270,000 digital jobs and 3,000 startups. It also ties into the January 2026 "AI Made in Morocco" strategy, which aims for a 100-billion-dirham contribution to GDP from AI by 2030, 50,000 AI-related jobs, and training 200,000 graduates in AI disciplines. Context and strategic rationale Sources cited in the announcement say Morocco was chosen after a market survey that considered other African tech hubs including South Africa, Nigeria, Kenya, and Egypt. The kingdom's renewable energy investments — generating roughly 42 percent of its power from clean sources with plans to reach 52 percent by 2030 — its geographic position between Africa, Europe and the Middle East, political stability, a reformed investment code, and a government willing to move quickly on strategic digital partnerships were all listed as decisive factors. Beyond national goals, the Nexus AI Factory is being designed to provide sovereign AI computing services across Europe, the Middle East and Africa — allowing African researchers, governments and startups to access continental-grade infrastructure without routing data through servers in Frankfurt, Virginia or Singapore, an element the announcement frames as significant for data localisation and governance. Outlook Analysts and stakeholders will now watch execution: energy delivery, platform openness to pan‑African users, and on-the-ground delivery of training and innovation targets. The physical infrastructure is planned, partners are signed, and the blueprint is in place — but the long-term test will be turning this investment into sustained capacity, jobs and startups across the region. --- ## IMF agreement unlocks 197 mln USD in funding for Jordan-Xinhua URL: https://startupsmena.com/imf-agreement-unlocks-197-mln-usd-in-funding-for-jordan-xinhua-mo20ic5o Date: 2026-04-16 Category: other Tags: IMF, Jordan, funding, economic reform, EFF, RSF **Summary:** The IMF reached a staff-level agreement to unlock $197 million for Jordan—$140 million under the EFF and $57 million under the RSF—to support fiscal consolidation and resilience-building measures, pending final approvals. AMMAN, April 15 (Xinhua) — Jordan and the International Monetary Fund (IMF) reached a staff-level agreement on Wednesday on the latest reviews of the country's economic reform programs, unlocking 197 million U.S. dollars in new funding, the IMF said. Pending approval by IMF management and the executive board, the agreement will release 140 million dollars under the Extended Fund Facility (EFF) and 57 million dollars under the Resilience and Sustainability Facility (RSF). "Jordan had met all quantitative performance criteria and remains committed to reducing its public debt to 80 percent of its gross domestic product by 2028," the IMF statement said. Context and details The IMF highlighted signs of resilience in Jordan's economy despite regional tensions. According to the statement, Jordan recorded 2.8 percent economic growth in 2025, with momentum accelerating in early 2026. Inflation was kept below 2 percent by the Central Bank of Jordan, supported by what the IMF described as robust foreign exchange reserves and a stable banking sector. Cesar Serra, the IMF mission chief for Jordan, emphasized the role of government policy in shielding the economy from regional spillovers. Serra highlighted measures taken to mitigate the effects of rising energy prices and disruptions to tourism, underscoring the authorities' efforts to preserve macroeconomic stability while pursuing reforms. The staff-level agreement follows a series of reviews tied to Jordan’s reform program. If approved by IMF management and the executive board, the combined disbursement of 197 million dollars is designed to support fiscal consolidation and resilience-building measures as part of the Extended Fund Facility and the Resilience and Sustainability Facility. Total unlocked funding: 197 million USD Extended Fund Facility (EFF): 140 million USD Resilience and Sustainability Facility (RSF): 57 million USD Growth in 2025: 2.8 percent Inflation: below 2 percent Public debt target: 80 percent of GDP by 2028 Outlook The IMF called for continued structural reforms aimed at fostering a dynamic private sector and job creation, and stressed the importance of aligning climate-related financial reporting with international standards. The funding release, once formally approved, will provide Jordan with additional fiscal space to manage external pressures and pursue policy measures outlined in its program with the Fund. Authorities in Amman will need to maintain the momentum on quantitative targets and policy reforms to secure the planned disbursements and to progress toward the stated public debt objective of 80 percent of GDP by 2028. The IMF staff-level agreement signals confidence in recent policy actions but frames further reform and implementation as central to sustaining recovery and boosting resilience against regional economic shocks. --- ## The Future of AI in Jordan: Opportunities, Challenges, and What Comes Next URL: https://startupsmena.com/the-future-of-ai-in-jordan-opportunities-challenges-and-what-comes-next-mo20o8f6 Date: 2026-04-16 Category: tech Tags: **Summary:** In Jordan, AI is still in its early stages—but the direction is clear: AI will become one of the most important drivers of economic growth and innovation in the country. From startups in Amman to larg Jordan’s artificial intelligence sector remains at an early adoption stage, but momentum is building across startups, corporations and public services, according to a May report first published on April 12, 2026 and updated April 16, 2026. The report identifies core strengths—“a highly educated, tech‑savvy population,” strong engineering and IT university programs and a growing startup ecosystem—and points to active AI use today in fintech and banking, telecoms, e‑commerce and customer service automation. It singles out Zoho Zia as an example of AI assistants already embedded in business applications, and highlights an associated online community of “over 130,000 SEO and Google Ads experts.” “Artificial Intelligence is no longer a distant concept—it is actively reshaping how businesses operate, how governments deliver services, and how people interact with technology,” the piece states, framing AI as a present force rather than a future promise. Context and sector details The analysis lays out where AI is taking hold and where it is likely to expand in Jordan over the next five to ten years. Key sectors and practical AI applications called out in the report include: Finance and banking: fraud detection, credit scoring, customer insights and automated support are already under development, with a prediction that “AI‑driven financial services [will] become standard within the next few years.” Healthcare: diagnostic support, patient data analysis, telemedicine and predictive healthcare as top opportunities to improve efficiency and quality of care. Retail and e‑commerce: personalization engines, dynamic pricing, inventory management and customer behavior prediction as essential tools for competitiveness. Education: personalized learning, intelligent tutoring systems, automated grading and skill‑based training platforms that present strong openings for edtech entrepreneurs. Business operations and customer experience: workflow automation, anomaly detection and proactive decision tools—illustrated by platforms like Zoho Zia, which help “predict sales trends, detect anomalies, automate insights [and] improve decision‑making.” Opportunities and challenges The report urges entrepreneurs to focus less on building complex core models and more on applying AI to concrete business problems, naming potential business models such as AI consulting, data analytics services, AI‑powered SaaS and automation tools for SMEs. At the same time it flags persistent obstacles: “Limited Investment in AI,” a developing but incomplete pool of specialized AI talent (“Skills Gap”), insufficient structured data systems (“Data Availability”) and low awareness among many businesses about how AI can benefit them. To counter these barriers, the piece offers practical steps for firms: digitize operations, collect and organize data, begin with simple automation, and adopt modern platforms with embedded AI. “AI is no longer a luxury—it’s a competitive advantage,” the report stresses, urging businesses not to wait for mainstream adoption. Outlook Looking ahead, the report predicts widespread industry adoption, a surge in AI‑powered startups, and deeper integration of AI into everyday business tools—creating “smarter, more automated business environments.” It concludes with a stark refrain: “The future of AI in Jordan is not a question of ‘if’—it is a question of how fast.” For policymakers and corporate leaders, the near‑term priorities are clear: invest in education and infrastructure, support startups, and create regulatory frameworks that enable responsible deployment so Jordanian companies can turn AI adoption into a sustainable competitive advantage. --- ## Roya News URL: https://startupsmena.com/roya-news-how-ostathi-is-giving-jordanian-professionals-direct-route-into-global-gig-economy-mo20ld2x Date: 2026-04-16 Category: tech Tags: **Summary:** It is a verified professional identity — showing their credentials, their portfolio, their service offerings, and their client ratings in one place. When a business in Dubai or a startup in London sea Lead Ostathi Jordan, developed by UniHouse and deployed nationally under the Ministry of Digital Economy and Entrepreneurship (MoDEE) through the Youth, Technology, and Jobs (YTJ) Project, is providing Jordanian professionals a structured route into the global gig economy. Launched as a platform and pathway rather than a standalone training course, Ostathi pairs an eight-stage UniHouse Workforce Entrepreneurship Engine™ (WEE) framework with a marketplace where verified profiles—showing credentials, portfolios, service offerings and client ratings—can be discovered and paid internationally via an integrated digital gateway. The Roya News feature on 14 April 2026 highlights the platform’s focus on turning market-relevant digital skills into actual income for Jordanians. Direct quote "The question we asked was simple: why do so many trained young Jordanians still not have income? The answer was always the same — training without a pathway. WEE and Ostathi together are that pathway." Context and details Ostathi is designed to take participants through a full journey: learning a market-relevant digital skill, earning a digitally verifiable certificate permanently linked to a profile, defining services and pricing, going live on the Ostathi marketplace, and receiving payment directly and securely from international clients. UniHouse describes the underpinning methodology as the WEE framework — an eight-stage framework intended to take people "from outreach all the way to sustainable income," rather than stopping at a training completion certificate. Services offered on Ostathi include: Digital marketing Graphic design Coding and web development Data analysis UI/UX design Content creation Virtual assistance Profiles on Ostathi function as a verified professional identity: credentials, portfolios and client ratings are consolidated in one findable page. The platform is backed by Microsoft's cloud and AI infrastructure to ensure availability across Jordan, even in areas with limited connectivity. Payments are processed through Ostathi’s integrated gateway, enabling direct, cross-border transactions without intermediaries. Ostathi is explicitly aimed at people who have not yet secured stable employment: youth and fresh graduates seeking a structured first step into the digital economy; women seeking flexible, remote-capable income; unemployed and underemployed individuals with skills but no route to market; and aspiring freelancers and entrepreneurs. Outlook By deploying Ostathi through MoDEE and the YTJ Project, Jordan is positioning the platform as a replicable model for digital workforce development across the region. UniHouse says the WEE framework is designed for replication across geographies, and the combination of private development with government deployment creates an example other countries can study. For Jordanians interested in joining or organisations seeking to understand the model, the Ostathi Jordan portal (jo.ostathi.com) and UniHouse’s WEE framework article (unihouse.com.jo) provide entry points to the platform and the methodology that powers it. --- ## Ex-unicorn founder raises $5.4M round for a defence startup to counter drones — TFN URL: https://startupsmena.com/ex-unicorn-founder-raises-54m-round-for-a-defence-startup-to-counter-drones-tfn-mo20fkjs Date: 2026-04-16 Category: tech Tags: **Summary:** Founded by Sky Mavis co-founder Aleksander Leonard Larsen, Stendr raised $5.4M to build AI-powered drone defence systems in Norway. Aleksander Leonard Larsen, co‑founder of Sky Mavis, has launched Stendr, a Norwegian defence technology company, and closed an oversubscribed pre‑seed round of $5.4 million to build AI‑powered drone detection and defence systems. The funding round — described by TFN as one of the largest in Nordic defence tech history — was co‑led by RainFall, ACME and SkyFall, with participation from Sisyphus, Antler, StartupLab, Off Piste, Andøya Ventures and a global angel syndicate of technology founders and investors. "Rather than focusing on a single detection or jamming product, the company aims to become the foundational technology provider for a new Nordic defence leader," TFN reported. Stendr positions itself as a vertically integrated, full‑stack supplier that combines hardware and software with AI at the core and an emphasis on European sovereignty. TFN’s coverage notes the company will take a different route from single‑product offerings by seeking to supply a broader platform for counter‑drone operations. Funding, market and competitive context Round size: $5.4 million pre‑seed, oversubscribed. Lead investors: RainFall, ACME, SkyFall; other participants include Sisyphus, Antler, StartupLab, Off Piste and Andøya Ventures. Market outlook: Europe’s counter‑drone market was $1.24 billion in 2025 and is projected to reach $4.16 billion by 2030 at a 27.5% annual growth rate, according to TFN. Regional procurement drivers: TFN cites the EU’s ReArm Europe programme and Germany’s $12 billion commitment to a drone arsenal as accelerants for procurement across the continent. Competitive landscape: established defence firms Thales, Leonardo and Rafael are active in counter‑drone systems; DroneShield generated $98 million in European revenue in 2025. Nordic Air Defence, a local rival, raised $4.4 million in pre‑seed funding in 2025. Team and strategic advantage Founder: Aleksander Leonard Larsen, co‑founder and former COO of Sky Mavis, which built Axie Infinity — a collection that reached $4.2 billion in volume, $1.3 billion in revenue and a $3 billion valuation after a $152 million raise from Andreessen Horowitz, Accel and Paradigm. CTO: Robin Alexander Holm Pedersen, with 15 years of experience in AI systems, digital identity infrastructure and hardware, and roles at Brønnøysundregistrene and Norges Bank. Head of Hardware: Markus Leonhard Hansen, co‑founder of Gungnir of Norway, who led a hardware product from concept to global recognition over seven years. Location advantage: TFN highlights Norway’s strategic position — one of NATO’s longest land borders with Russia, a critical North Atlantic coastline and a national commitment to spend 2% of GDP on defence — and the presence of Andøya’s autonomous systems test facility as a validation pathway. "The true test will be securing the first government procurement relationship and achieving deployment of certified hardware," TFN wrote, underscoring the next milestones for Stendr as it moves from R&D toward fielded systems. The pre‑seed capital is intended to give the team runway to develop AI‑native, full‑stack products while pursuing certification and initial procurement contracts across Europe. --- ## Startup Sync facilitates Edafa Venture’s six-figure acquisition of Cyclex to boost Egypt’s circular economy URL: https://startupsmena.com/startup-sync-facilitates-edafa-ventures-six-figure-acquisition-of-cyclex-to-boost-egypts-circular-ec-mo1weuxv Date: 2026-04-16 Category: tech Tags: **Summary:** Startup Sync, the entrepreneurship ... of Egyptian recycling startup Cyclex by Edafa Venture, a leading venture capital firm in both markets. Cyclex specializes in recycling non-hazardous solid waste Startup Sync has brokered a six-figure acquisition of Egyptian recycling startup Cyclex by venture capital firm Edafa Venture, finalised in the second half of 2025. The deal, which targets expansion of Cyclex’s operations, comes as part of a push to scale waste-to-value solutions in Egypt’s circular economy. Startup Sync, active in Egypt and Saudi Arabia, played a central role in connecting stakeholders and guiding the transaction from valuation through negotiation. Direct quote Essam Ali Mostafa, CEO of Startup Sync, said: “Startup Sync provided technical support and strategic guidance, helping Cyclex select the right partner to accelerate its expansion plans.” Transaction and strategic context Cyclex specialises in recycling non-hazardous solid waste and transforming it into marketable products, a business model that converts environmental burden into commercial value. According to the parties, the six-figure investment will enable Cyclex to expand its operations, enhance operational efficiency and continue delivering advanced waste management solutions. Startup Sync’s involvement went beyond matchmaking. The platform supported valuation and negotiations, provided technical and strategic guidance, and offered startups practical tools in areas such as marketing, operations and scaling. That hands-on facilitation, the company said, ensured the acquisition proceeded “efficiently and in line with best practices in startup investment.” Buyer: Edafa Venture, a venture capital firm active in Egypt and Saudi Arabia. Seller/target: Cyclex, an Egyptian recycling startup focused on non-hazardous solid waste. Role of intermediary: Startup Sync, entrepreneurship platform operating in Egypt and Saudi Arabia. Timing: Deal finalised in the second half of 2025. Consideration: Described as a six-figure investment (USD equivalent implied by reporting). Reactions and objectives Edafa Venture framed the acquisition as a strategic enhancement of its sustainability-focused portfolio, noting that integrating Cyclex will strengthen operational and technical capabilities and support the startup’s planned expansion. The firm said the move reflects confidence in Cyclex’s business model and growth potential and underscored its commitment to backing projects with positive environmental and social impact. Cyclex welcomed the transaction as a pivotal milestone, expressing gratitude for the support from both Startup Sync and Edafa Venture. The team outlined ambitions to scale operations and roll out more advanced waste-management solutions while maintaining a focus on sustainability and the circular economy. Outlook The acquisition highlights growing investor interest in circular-economy businesses in Egypt and suggests stronger alignment between private capital and environmental goals. With the injection of six-figure funding and operational backing from Edafa Venture — facilitated by Startup Sync’s transactional and strategic support — Cyclex is positioned to increase production, improve efficiencies and expand its market reach. If the startup can translate the investment into scalable, revenue-generating products from recycled materials, the deal could serve as a template for further sustainable-investment partnerships across the region. --- ## 18 global firms explore investment opportunities in Egypt across various sectors URL: https://startupsmena.com/18-global-firms-explore-investment-opportunities-in-egypt-across-various-sectors-mo1wj1gn Date: 2026-04-16 Category: funding Tags: Egypt, investment, FDI, cybersecurity, medical technology, financial services **Summary:** Eighteen American and international firms signalled interest in exploring investment opportunities in Egypt across cybersecurity, energy, medical technology and financial services. The government is pursuing reforms to mobilize domestic savings and channel capital into long-term projects and venture capital funds to support startups. Eighteen American and international companies have signalled interest in exploring investment opportunities in Egypt across cybersecurity, energy, medical technology and financial services, Minister of Investment and Foreign Trade Mohamed Farid said after a roundtable with the Business Council for International Understanding. The meeting aimed to “strengthen direct dialogue with the international business community, showcase investment opportunities in the Egyptian market, and turn foreign interest into concrete investments,” the ministry said. "Egypt is moving toward adopting more flexible legal frameworks that mirror leading international models," Farid said, adding that the government is "open to studying the application of the English legal model in selected financial and business zones" as part of efforts to boost investor confidence and legal clarity. Context and details The roundtable brought together representatives from 18 American and global firms operating across sectors that the ministry identified as priorities for incoming capital. Companies and institutions highlighted in the ministry statement include GE Healthcare, Philips, Lockheed Martin, Resecurity, Kraft Heinz and Morgan Stanley. Sector interest: The firms expressed focus areas spanning cybersecurity and digital transformation (Resecurity), advanced defence and strategic industries (Lockheed Martin), advanced medical technology and digital health (GE Healthcare and Philips), manufacturing and regional food production (Kraft Heinz), and financial services and institutional investment (Morgan Stanley). Financing and savings gap: Farid reviewed a government strategy to bridge the financing gap between Egypt’s 25% investment target and a current 11% savings rate by boosting foreign direct investment inflows and mobilising domestic savings. He described reforms in the insurance and pension funds sectors designed to channel domestic capital into long-term projects and venture capital funds to support startups. Arrears and infrastructure: To reassure investors, the minister cited a sharp reduction in arrears owed to international oil companies, with outstanding dues falling from $6.5 billion to $1.2 billion. He also pointed to "major investments to modernize the national electricity grid and strengthen regional interconnection projects," measures intended to secure supply and improve market competitiveness. Regulatory and procedural reforms: Farid outlined plans to adopt modern regulatory structures, including GP/LP partnership models to offer legal clarity and investor protection, and to activate special investment zones whose boards would have authority to issue licences and approvals directly. The government is also pursuing wider digitalisation of services and targeted tax and customs incentives to reduce the time and cost of investing. Outlook Representatives from GE Healthcare and Philips highlighted Egypt’s potential as a destination for investment in advanced medical technology and digital health services, while Morgan Stanley said ongoing economic and structural reforms are strengthening the confidence of international financial institutions in Egypt’s growth prospects. Kraft Heinz cited Egypt’s location and trade agreements as advantages for building a base for regional expansion. Farid closed the meeting by inviting global companies to "capitalize on Egypt’s promising investment opportunities," reaffirming the state’s commitment to continuing economic reforms and providing a stable, investor-friendly environment aimed at converting international interest into concrete projects and longer-term institutional investment. --- ## LIV Golf leader says the show will go on amid reports of Saudi funding uncertainty URL: https://startupsmena.com/liv-golf-leader-says-the-show-will-go-on-amid-reports-of-saudi-funding-uncertainty-mo1w6401 Date: 2026-04-16 Category: tech Tags: **Summary:** Questions about LIV’s future funding were raised as the Public Investment Fund of Saudi Arabia revealed a new five-year investment strategy. LIV Golf’s chief executive Scott O’Neil moved Wednesday to reassure staff and players that the league’s 2026 season will proceed “exactly as planned, uninterrupted and at full throttle” after reports suggested the Public Investment Fund of Saudi Arabia (PIF) might be scaling back financial support. The memo, a copy of which was provided to The Associated Press, came amid renewed scrutiny of the Qatari‑backed tour’s long‑term funding and a PIF announcement of a new five‑year investment strategy for 2026‑30. “I want to be crystal clear: Our season continues exactly as planned, uninterrupted and at full throttle,” O’Neil wrote. “We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before.” That assurance arrived after reporting that has placed LIV’s finances in the spotlight. The newsletter Money in Sport reported in February that LIV had already spent $5.3 billion and was projected to surpass $6 billion by the end of the year. LIV launched in June 2022 with roughly $1 billion paid in signing bonuses to a group of high‑profile defections from the PGA Tour, including Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Dustin Johnson and Jon Rahm. Prize money for individuals and the league’s 13 teams was raised to $30 million this year. The PIF, which bankrolls LIV Golf and is chaired by governor Yasir Al‑Rumayyan, released a statement framing its new 2026‑30 approach as a shift toward “sustained value creation.” In that release the sovereign wealth fund said: “The 2026‑30 strategy marks a natural evolution as PIF moves from a period of rapid growth and acceleration to a new phase of sustained value creation, with a strengthened focus on maximizing impact, raising the efficiency of investments, and applying the highest standards of governance, transparency and institutional excellence.” Al‑Rumayyan, who has been publicly linked to LIV since its inception, told the Financial Times that regional tensions had added pressure: “Of course the war would add more pressure to reposition some priorities,” he said, referring to the U.S.‑Israel war against Iran. At LIV Golf’s Mexico stop at Chapultepec Golf Club players were left to field questions as speculation about funding swirled. One player, speaking on condition of anonymity because a meeting was private, said Al‑Rumayyan told players in Hong Kong in early March that funding was secured through 2032. O’Neil arrived in Mexico City on Wednesday and was expected to meet with players; LIV promoted the event on social media with the line, “Slow news day? We are ON.” LIV has staged five events so far in 2026: Saudi Arabia, Australia, Hong Kong, Singapore and South Africa. Notable results include Anthony Kim’s comeback victory in Australia and Bryson DeChambeau winning the last two events in playoffs; DeChambeau missed the cut at the Masters last week. LIV’s first U.S. tournament this year is scheduled for May 7‑10 at Trump National in northern Virginia. The league is in the second year of a Fox Sports television deal, with coverage on platforms such as FS1 and a three‑hour opening round window on the Fox Sports app. O’Neil framed the moment as one of the inevitable pressures of a disruptive startup: “The life of a startup movement is often defined by these moments of pressure,” he wrote. He closed his memo to staff by urging persistence: “We are pioneers, and while the road isn’t always smooth, the destination is worth every mile. Let’s go out and show the world why LIV Golf is the future of the game.” --- ## Fanatics flag football event could lose Saudi funding URL: https://startupsmena.com/fanatics-flag-football-event-could-lose-saudi-funding-nbc-sports-mo1watpj Date: 2026-04-16 Category: tech Tags: **Summary:** Saudi Arabia could be losing its appetite for investment in sports. Amid indications that the Public Investment Fund may be ending its support of LIV golf, Saudi Arabia may cease its funding of the Fa Saudi Arabia may be stepping back from a high-profile sports investment after reports that the kingdom’s Public Investment Fund (PIF) is reassessing its sports commitments. According to Ryan Glasspiegel of Front Office Sports and reported by Mike Florio for NBC Sports, the PIF “pulled support for the 2026 event after it moved to L.A.,” putting future backing of the Fanatics Flag Football Classic in doubt following a disagreement over whether to hold the March 21 event in Los Angeles or postpone it until it could be staged in Riyadh. Ryan Glasspiegel of Front Office Sports was clear on the immediate prognosis: “The tournament will continue, with or without Saudi support.” Context and details The dispute emerged after Fanatics and Saudi backers disagreed on relocating the Fanatics Flag Football Classic from Riyadh to Los Angeles for the March 21 date. Per the report, the decision to move the event prompted the Saudis to withdraw their support for the 2026 edition. The reporting links this development to wider signals that the PIF may be scaling back its involvement in other sports ventures, including indications it may end its support of LIV Golf. The Fanatics Flag Football Classic has been credited with boosting interest in flag football in the United States. NBC Sports notes that the U.S. men’s national team went 3-0 in matches against teams composed mostly of current and former NFL players — a result that serves the NFL’s broader effort to use flag football as a tool to globalize the sport. Fanatics, the privately held sports company behind the event, has positioned the tournament as a showcase for the sport’s growing appeal. Key parties: Fanatics; Public Investment Fund (PIF) of Saudi Arabia; Front Office Sports (Ryan Glasspiegel); NBC Sports (Mike Florio). Key dates: March 21 — the relocated Los Angeles date cited in the report; 2026 — the year for which Saudi support was reportedly withdrawn. Immediate outcome: Saudis pulled support for the 2026 event after the move to Los Angeles; the tournament is expected to continue, per reporting. Outlook Whether Saudi Arabia will re-engage with the Fanatics Flag Football Classic remains uncertain. Glasspiegel’s reporting, relayed by NBC Sports, emphasizes that the tournament is likely to proceed regardless of PIF involvement, suggesting Fanatics plans to maintain the event’s momentum even if it loses a major backer. The potential PIF retrenchment follows broader scrutiny of Saudi investments in sports, most notably the kingdom’s role in LIV Golf, and could signal a more cautious phase for high-profile, state-linked sports funding. --- ## Barings Opens Office in Abu Dhabi to Strengthen Middle East Presence URL: https://startupsmena.com/barings-opens-office-in-abu-dhabi-to-strengthen-middle-east-presence-mo1psgp1 Date: 2026-04-16 Category: tech Tags: **Summary:** The Abu Dhabi office follows the successful launch of Barings' Dubai office in 2024 and reflects the firm's ambition to deepen relationships with institutional investors, sovereign wealth funds, and f Barings has opened a new office in Abu Dhabi, the firm announced on April 16, 2026, marking a strategic expansion of its Middle East footprint following the launch of its Dubai office in 2024. The office will operate within Abu Dhabi Global Market (ADGM) and is intended to deepen Barings’ relationships with institutional investors, sovereign wealth funds, and family offices across the Gulf. Barings said the move reflects its confidence in the region's long-term growth, resilience and investment opportunities and will provide closer proximity to leading regional investors within a robust regulatory environment. Direct quote "The opening of our Abu Dhabi office reaffirms Barings' commitment to the Middle East and our belief in the region's growth trajectory. Being on the ground enables us to better serve our clients and partner with them to unlock opportunities across global credit markets," said Mike Freno, Chairman and CEO of Barings. Context and details Barings frames the Abu Dhabi office as a continuation of its Gulf expansion after establishing its Dubai presence in 2024. Waleed Zamel, Managing Director, Head of Middle East, Global Client Group at Barings, described the new office as "an important milestone in our strategy to build a strong presence in the region" and said it "reaffirms our commitment to our trusted partners." Zamel emphasized Abu Dhabi's role as "a key financial hub and a growth pillar of Barings' Middle East strategy," adding that a local office will enable the firm to "engage more closely with clients and deliver tailored investment solutions that meet their evolving needs." The office will be based within ADGM, positioning Barings inside Abu Dhabi’s international financial centre. Arvind Ramamurthy, Chief Market Development Officer at ADGM, welcomed the firm and highlighted the jurisdiction’s appeal: "We are pleased to welcome Barings to ADGM's ecosystem. Their decision underscores the continued interest from leading global firms choosing Abu Dhabi for regional and international growth. With a strong regulatory framework and deep connectivity to regional capital, ADGM continues to support asset and wealth managers as they expand their presence and access opportunities across the region and beyond." Location: Abu Dhabi Global Market (ADGM), Abu Dhabi, UAE Follow-up to: Barings' Dubai office launched in 2024 Target clients: Institutional investors, sovereign wealth funds, family offices Strategic focus areas cited: Public credit, private credit, real estate Outlook Barings signalled that the new Abu Dhabi office is intended to enhance client engagement and delivery of bespoke investment strategies across credit and real estate. The firm said it continues to see "a strong appetite for strategies in public credit, private credit, and real estate among Middle Eastern investors," positioning the Abu Dhabi presence as a platform to expand relationships and deploy solutions tailored to the region’s institutional capital. With ADGM’s regulatory framework and connectivity to regional capital markets highlighted by local officials, Barings’ move underscores a broader trend of global asset managers formalising on-the-ground operations in the Gulf to better serve regional investor demand. --- ## UAE Startups Urged to Cut Non-Core Costs While Protecting Revenue Engines in Cash Crunch URL: https://startupsmena.com/uae-startups-urged-to-cut-non-core-costs-while-protecting-revenue-engines-in-cash-crunch-bazaar-time-mo1pmiw3 Date: 2026-04-16 Category: tech Tags: **Summary:** Tagsburn rate business strategy cash flow cost control Cost Cutting financial management nvestment payroll management Revenue Growth startup funding startups UAE startups are being urged to prioritise cuts to “non-core burn” while protecting the parts of the business that generate revenue, a founder-led advisory published by Bazaar Times says. Faizan Mandavia, Founder and Group CEO of FAM Group, and Ayshwarya Chari, Co‑founder of Dubai-based 1115inc, advise early, surgical cost discipline that preserves the revenue engine, delivery quality and financial visibility rather than broad, emotional reductions that can hollow out a company. “They cut too late or too emotionally,” Mandavia warns, framing late reactions as a primary reason startups undermine their own survival. What to protect and what to trim Mandavia draws a clear line between costs that sustain a business and those that merely maintain comfort or perceived momentum. He lists three untouchable areas that founders should avoid cutting: Revenue engine — sales capability and client relationships Delivery quality — the work that keeps clients paying and referring Financial visibility — reporting, controls and decision clarity By contrast, Mandavia says non-core burn commonly includes marketing spend without measurable outcomes, under‑utilised tools and subscriptions, and premature scaling such as hiring ahead of need or upgrading office space. In tight cash conditions, brand campaigns or experimental ads that can’t be directly tied to customers, conversions or retention “stop being an investment and start becoming a cost buffer that drains runway,” he argues. Practical cost tactics recommended in the piece focus on preserving capability rather than simply lowering headcount. Mandavia suggests alternatives to layoffs including shifting compensation toward performance‑linked pay, building multi‑hat roles, pausing hiring and redeploying internal capacity, and outsourcing or fractionalising non‑core roles. “Both, but sequence matters,” Mandavia says on the common debate between cutting costs and pushing growth — meaning startups should first stabilise cash flow and extend runway, then refocus energy on aggressive revenue generation once the base is secure. Efficiency, not just cuts Beyond headline savings, Mandavia highlights hidden inefficiencies as a reliable source of runway extension. “The most effective move I’ve seen: Cutting ‘busy work’ disguised as operations,” he says, pointing to duplicated reporting, follow‑ups and internal coordination that add cost and slow decisions without improving revenue. Simplifying workflows and removing redundant layers can lower headcount pressure, speed up decisions and reduce costs without impairing delivery. Chari complements this advice by urging a diagnostic first step: look inward before cutting, auditing spend and activity to identify under‑used subscriptions, unclear ROI and internal friction that can be fixed without damaging the business’s core. Outlook: The guidance is straightforward — act early, prioritise the systems that keep customers and cash coming in, and treat cost control as a strategic, staged process rather than an emergency reflex. For UAE startups facing a cash crunch, the prescription is selective austerity paired with operational clarity, so runway is extended without dismantling the revenue engines needed to recover growth. --- ## Dubai Startup Ecosystem: Top Opportunities 2026 URL: https://startupsmena.com/dubai-startup-ecosystem-top-opportunities-2026-mo1lrp26 Date: 2026-04-16 Category: tech Tags: **Summary:** The Dubai Startup Ecosystem is rapidly growing due to business-friendly policies, low taxes, easy company setup, and strong government support, making it an attractive destination for global entrepren The Dubai startup ecosystem is shaping up as a primary destination for global entrepreneurs in 2026, driven by clear policy incentives, simplified company formation and growing investor interest. Key structural advantages highlighted in a recent guide from ugsdxb.com include zero personal income tax, 100% foreign ownership in many company structures, fast company registration measured in days, and a strategic location linking Asia, Europe and Africa. The guide also cites ranges for startup costs and timelines — free zone set-up typically costs between AED 15,000 and AED 50,000, and free zone company formation can take 7 to 14 days or 1–3 weeks depending on approvals. "You keep more of what you earn," the guide states, underscoring zero personal income tax as a central attractor for talent and founders considering relocation to the UAE. Context and details The ugsdxb.com guide breaks down practical steps to launch in Dubai and highlights the jurisdictions founders must evaluate: Mainland, which allows operations across the UAE, and Free Zones, which offer tax advantages and faster setup. Entrepreneurs are advised to choose a business activity, select the right jurisdiction, register the company, apply for the appropriate license (commercial, professional or industrial), and open a bank account to start operations. Top opportunity sectors named in the guide: Artificial Intelligence, FinTech, e-commerce, GreenTech (sustainability), and Real Estate Technology. Funding and support: the ecosystem benefits from active venture capital, government grants, incubators and accelerators that aim to speed scaling for early-stage firms. Ownership and visas: Free Zone setups commonly permit 100% foreign ownership and offer startup visa benefits including long-term visas; the guide also references the "3000 dirham rule" as the usual minimum monthly salary (AED 3,000) associated with family sponsorship under UAE visa regulations. Timelines and costs: a free zone registration is typically completed in 7–14 days, with set-up costs usually ranging AED 15,000–50,000 depending on the free zone, office space and visa needs. The guide uses simple examples to illustrate the process: a tech founder from India can register a company quickly and begin operations in Dubai rather than waiting months elsewhere, while a founder named Sarah is presented as a case who registered a digital marketing agency in a Free Zone, obtained a license quickly and started serving global clients. The resource also flags common early-stage challenges — initial setup costs, legal and regulatory requirements and rising competition — and recommends careful planning, choosing the right location and licensing, and seeking expert support when necessary. As a commercial service, the guide concludes with a direct outreach line: "Unicorn Global Solutions L.L.C is here to help! Text us on whatsApp or call us today." Outlook Looking toward the rest of 2026, the guide identifies clear trends likely to sustain Dubai’s appeal: a rise in AI startups, increased participation from global investors, continued growth in online businesses and a stronger emphasis on sustainability-led ventures. With streamlined processes, targeted incentives and a growing network of capital and accelerators, Dubai is positioned to remain a competitive global hub for founders seeking quick market entry and full ownership structures. --- ## UAE keeps attracting global capital even amid regional uncertainty URL: https://startupsmena.com/uae-keeps-attracting-global-capital-even-amid-regional-uncertainty-mo1llaqc Date: 2026-04-16 Category: tech Tags: **Summary:** Investors keep choosing the UAE as a safe, stable hub, drawn by policy consistency, legal clarity and a diversified economy despite regional tensions. Capital continues to flow into the UAE even as regional tensions persist, driven by investor confidence in policy stability, regulatory clarity and legal reforms that support wealth planning and business relocation. Market participants and advisers say that a widening mix of institutional investors, hedge funds, fintech firms, technology companies, digital asset players and relocating entrepreneurs are expanding operations in the country, drawn by predictable licensing regimes and international-standard compliance frameworks. "Investors continue to view the UAE as an attractive destination in a complex geopolitical environment," said Achraf Drid, Managing Director, XTB MENA. "What stands out is the country’s policy consistency, institutional stability, and long-term economic vision. The UAE has built a highly diversified economy, reducing reliance on hydrocarbons while positioning itself as a global hub for finance and technology.” Broader investor mix and practical relocation issues Industry sources point to a notable diversification of incoming capital. Drid said the UAE is attracting "institutional investors, hedge funds, and fintech-driven businesses, alongside technology firms and digital asset companies," with an increasing number of entrepreneurs and SMEs relocating from Europe and Asia. That mix signals both scale capital and early-stage innovation are finding a home in the country’s ecosystem. Relocating businesses face technical and structural decisions when entering the market. “Setting up or relocating to the UAE can offer significant commercial advantages, but it also requires careful legal and regulatory planning,” warned Andrea Stefani Melekki, Founder and Managing Partner at Stefani Legal Consultants LLC. Melekki highlighted common missteps such as choosing between mainland and free zone structures without fully aligning with operational needs, and errors around licensing, ownership rules and compliance that can lead to costly restructuring. Legal clarity and wealth planning The legal landscape has been evolving to support longer-term capital preservation and succession planning. Melekki pointed to Federal Decree-Law No. 41 of 2022 as part of a framework that has made inheritance and succession arrangements more predictable and enforceable for expatriates. She said the UAE is increasingly functioning as "a multi-track succession jurisdiction" where family offices, foundations and trusts are being used to govern assets across generations, with established routes through financial centres such as DIFC and ADGM. Regulatory alignment: Drid noted steps to bolster AML and CFT frameworks and improve financial transparency to protect cross-border activity. Operational resilience: Melekki urged businesses to maintain tested continuity plans, and to rely on contractual protections like force majeure, termination rights and clear obligations during disruption. Structured wealth solutions: Families and expatriates are moving from informal arrangements to formal family-office and foundation structures. Outlook Combined regulatory strengthening, legal reforms and infrastructure continue to underpin investor confidence, industry sources say. With regulators enhancing oversight and businesses adapting compliance and continuity measures, the UAE’s position as a stable conduit for global capital looks set to endure despite geopolitical headwinds. The balance of policy consistency, legal clarity and diversified economic positioning will remain central to the country’s appeal for capital inflows, according to market participants cited by Gulf News. --- ## What Enterprise Leaders in Dubai Need to Know About Mobile Innovation URL: https://startupsmena.com/what-enterprise-leaders-in-dubai-need-to-know-about-mobile-innovation-01-mo1abvar Date: 2026-04-16 Category: tech Tags: mobile-first, Dubai, digital transformation, mobile apps, AI, AR, blockchain, 5G, IoT, user experience, security, analytics **Summary:** Steve Waugh argues that Dubai enterprises must adopt mobile-first strategies as core elements of digital transformation, leveraging AI, AR, blockchain, 5G and IoT while prioritising UX, security and regional adaptations. He warns of high development costs, regulatory challenges and the need for iterative testing and expert development partners. Enterprise leaders in Dubai are being urged to adopt mobile-first strategies as core elements of digital transformation, according to a recent piece by Steve Waugh on vocal.media. The article lays out how mobile applications are moving from optional conveniences to central operational tools across sectors including retail, healthcare, fintech and logistics, driven by a highly connected, digitally active population and rising expectations for instant, personalised service. "Dubai has rapidly evolved into one of the most technologically advanced business hubs in the world," Steve Waugh writes, adding that "mobile applications are no longer optional—they are essential tools for growth, engagement, and operational efficiency." Context and detailed takeaways Waugh frames the shift toward mobile-first enterprise ecosystems around several practical imperatives. Businesses that partner with experienced developers can optimise for performance, security and user experience while tailoring apps to regional behaviours—his piece highlights multilingual interfaces and seamless payment integrations as examples of local market adaptations. He also warns that development teams bring more than technical skills: they help reduce development risks and accelerate time-to-market, two critical advantages in Dubai’s competitive landscape. Customer expectations: Real-time access, personalised experiences and seamless smartphone interactions are now standard demands. Waugh notes features such as real-time notifications, AI-driven recommendations and integrated customer support as increasingly typical in modern apps. Innovation stack: Technologies being incorporated into apps include artificial intelligence, augmented reality and blockchain. Waugh cites AI-powered chatbots for faster customer support, AR for enhanced shopping experiences and blockchain to improve security and transaction transparency. User experience priorities: Simplicity, speed and clear navigation are essential. Successful apps in Dubai must load quickly, present intuitive interfaces and offer responsive design; accessibility features are also singled out to broaden reach. Data and analytics: Mobile apps enable collection of user data to refine services and targeting, supporting a data-driven approach to customer interaction and retention. Challenges: High development costs, rapid technology change, security and regulatory compliance—particularly for finance and healthcare—and the difficulty of sustaining long-term engagement are all cited as ongoing obstacles. Waugh emphasises that continuous testing and iterative improvement are necessary to keep apps aligned with evolving user expectations. He points to emerging infrastructure trends—5G connectivity, IoT integration and advanced analytics—as catalysts that will unlock new capabilities, enabling faster performance, richer connectivity and more personalised experiences. Outlook: According to the article, the trajectory for mobile app development in Dubai is strongly positive. Waugh concludes that "mobile applications are no longer just tools—they are powerful platforms that drive business growth and innovation," and he advises organisations to collaborate with the right experts, prioritise user-centric design and embrace new technologies to secure a competitive edge as the city’s digitisation continues. --- ## UAE Lottery opens first retail shop in Musaffah, bringing games closer to players URL: https://startupsmena.com/uae-lottery-opens-first-retail-shop-in-musaffah-bringing-games-closer-to-players-mo0xfxj2 Date: 2026-04-16 Category: tech Tags: **Summary:** Caption: The UAE Lottery launches its first retail shop in Musaffah, offering in-person ticket purchases and enhanced customer experience. ... ABU DHABI – The UAE Lottery has officially opened its fir The UAE Lottery has opened its first retail shop in Musaffah, Abu Dhabi, introducing in-person ticket sales alongside its existing digital platform, TravelsDubai Report said on 15 April 2026. Located in the M40 area, the outlet allows players aged 18 and above to buy physical tickets for games such as the Lucky Day Draw and Pick 3, and to make payments on-site, providing an alternative for customers who prefer traditional purchase channels. "The new outlet introduces a physical touchpoint for players," TravelsDubai Report noted, adding that the Musaffah shop is designed to complement the Lottery’s online offering and broaden access to lottery participation across the UAE. The Musaffah shop has been configured as more than a simple sales counter. According to the report, the space presents "a fully branded environment that captures the energy and excitement associated with lottery gaming," featuring high-visibility signage, an open-plan layout and interactive displays that explain available games and prize structures. Customer service staff are stationed throughout the outlet to guide newcomers, explain game mechanics and answer queries in real time. Location: Musaffah, Abu Dhabi (M40 area) Age requirement: 18 and above Available games at launch: Lucky Day Draw and Pick 3 Payments: On-site payments accepted Channels: Physical retail shop complements existing digital platform The retail launch is framed as a pilot aimed at testing demand and shaping possible future expansions. TravelsDubai Report said the Musaffah outlet is positioned in a high-footfall area to maximise visibility and convenience, particularly for customers who do not regularly engage with digital services. Interactive displays and staff assistance are intended to make the product accessible to both first-time and regular players, improving understanding of prize structures and participation methods. Regulatory and responsible gaming measures are also highlighted in the report. All activities connected to The UAE Lottery are overseen by the General Commercial Gaming Regulatory Authority, which the article says provides oversight to ensure "a secure and transparent environment for participants." The Lottery, the report adds, offers tools and resources to promote responsible play, including guidance on spending limits and awareness initiatives designed to help participants make informed decisions and safeguard wellbeing. Looking ahead, the Musaffah shop will serve as a model for how the Lottery balances digital convenience with a physical customer experience. If uptake meets expectations, TravelsDubai Report indicates the retail presence could be expanded to other locations to reach a wider and more inclusive player base. For now, the Musaffah outlet offers a tangible test of demand for in-person lottery services in a market increasingly served by both online and offline channels. --- ## Investor confidence in Abu Dhabi holds firm with record real estate activity URL: https://startupsmena.com/investor-confidence-in-abu-dhabi-holds-firm-with-record-real-estate-activity-khaleej-times-mo0qs8e8 Date: 2026-04-16 Category: tech Tags: **Summary:** Metropolitan Capital Real Estate ... has already demonstrated strong pre-launch traction. Positioned as a move-in-ready luxury offering, Leaf Tower caters to growing demand for high-quality, immediate Investor confidence in Abu Dhabi's property market remains strong as Metropolitan Capital Real Estate reported around AED 450 million in reservations for Ohana’s Manchester City Yas Residences and flagged robust pre‑launch interest in its Leaf Tower project. The agency said these sales come despite short‑term geopolitical challenges, underscoring sustained demand from both regional and international buyers for premium, move‑in‑ready apartments in strategic locations such as Yas Island. “Abu Dhabi continues to stand out as one of the most stable and secure markets globally, and recent events have not altered the strong fundamentals that underpin investor confidence. We are seeing sustained demand from both regional and international buyers who recognize the emirate’s long‑term value proposition,” said Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate. Details and market context Metropolitan Capital’s figures materially reflect a wider sense of resilience in Abu Dhabi’s real estate sector. The AED 450 million in reservations for Ohana’s Manchester City Yas Residences was recorded “within a short period,” the firm said, signalling immediate investor appetite for branded, well‑located residential stock on Yas Island. The development benefits from its association with the Manchester City brand and its proximity to leisure and transport infrastructure on the island. Leaf Tower, also being promoted by Metropolitan Capital Real Estate, has shown “strong pre‑launch traction” and is positioned as a move‑in‑ready luxury offering that targets buyers prioritising convenience, lifestyle and long‑term value. The project is described as combining modern design, premium amenities and strategic location advantages, with early indicators pointing to interest from both end‑users and investors. Reservations at Ohana’s Manchester City Yas Residences: around AED 450 million Promoted project showing early demand: Leaf Tower (move‑in‑ready luxury residences) Developer/agent quoted: Metropolitan Capital Real Estate; CEO: Evgeny Ratskevich Primary location of activity: Yas Island, Abu Dhabi Industry observers and the company attribute the activity to Abu Dhabi’s broader market fundamentals: long‑term economic diversification, population growth, investor‑friendly policies, robust regulatory frameworks and world‑class infrastructure. These elements, Metropolitan Capital argues, make the emirate an attractive destination for those seeking “security, quality assets and stable returns.” Outlook Metropolitan Capital’s leadership expects that the momentum will continue through 2026. “The success of Ohana’s Yas Residences and the strong early response to Leaf Tower highlight a clear trend: investors are prioritising quality developments in well‑connected, future‑focused destinations. Abu Dhabi offers exactly that – safety, transparency and opportunity. We remain confident that the market will continue its upward trajectory throughout 2026,” added Ratskevich. As Abu Dhabi advances its strategic vision for urban growth, industry participants will be watching subsequent sales cycles and project deliveries to see whether the early‑stage demand converts into sustained absorption of new, high‑calibre residential supply. For now, the reservations and pre‑launch interest reported by Metropolitan Capital offer a concrete data point supporting claims of resilience in the capital’s property market. --- ## Top 15 ERP Software in Dubai in 2026 for SMBs and Enteprises. 1. Oracle NetSuite 2. SAP S/4HANA Cloud 3. Microsoft Dynamics 365 Business Central 4. Odoo 5. Sage Intacct 6. Zoho ERP (Zoho One) 7. Epicor (Kinetic) 8. Infor CloudSuite 9. TallyPrime 10. Acumatica 11. ERPNext 12. Focus Softnet (Focus 9) 13. IFS Cloud 14. SYSPRO 15. Plex Smart Manufacturing URL: https://startupsmena.com/top-15-erp-software-in-dubai-in-2026-for-smbs-and-enteprises-1-oracle-netsuite-2-sap-s4hana-cloud-3--mo0qp61z Date: 2026-04-16 Category: tech Tags: **Summary:** We have put together a list of top 15 ERP software in Dubai. 1. Oracle NetSuite 2. SAP S/4HANA Cloud 3. Microsoft Dynamics 365 Business Central 4. Odoo 5. Sage Intacct 6. Zoho ERP (Zoho One) 7. Epicor Branex, a UAE-based digital agency, has published its 2026 roundup of the leading ERP platforms for Dubai-based small, medium and enterprise organisations. The list, compiled by Ashad Ubaid Ur Rehman and published on April 14, 2026, ranks 15 systems from Oracle NetSuite and SAP S/4HANA Cloud to Plex Smart Manufacturing. The report highlights local requirements such as UAE FAF (FTA Audit File) generation, e‑invoicing PINT‑AE XML support and multi‑currency operations critical for firms operating across the Gulf. "If you’ve spent any time in the Dubai startup scene or scaled a retail business in the UAE, you’ve definitely heard of NetSuite," the Branex piece states, underscoring NetSuite's prevalence in the emirate. Top 15 ERP software in Dubai (2026) Oracle NetSuite SAP S/4HANA Cloud Microsoft Dynamics 365 Business Central Odoo Sage Intacct Zoho ERP (Zoho One) Epicor (Kinetic) Infor CloudSuite TallyPrime Acumatica ERPNext Focus Softnet (Focus 9) IFS Cloud SYSPRO Plex Smart Manufacturing Context and platform details Branex places particular emphasis on three platforms that dominate different segments of the Dubai market. Oracle NetSuite is praised for its OneWorld module that "handles multi-currency and local VAT laws, including Saudi Fatoora requirements," and for features that generate the UAE FAF and automate reporting by emirate. The report notes NetSuite can manage multiple subsidiaries and 190+ currencies from a single login, and highlights estimated 2026 pricing: a Starter base license "starting from ~$999 (AED 3,670) per month," per-user fees between ~$99–$199 per user/month, and implementation fees typically from $10,000 to $100,000. Branex estimates total year-one costs for a typical Dubai SME between AED 180,000 and AED 550,000. SAP S/4HANA Cloud is described as the "heavy hitter" for very large enterprises. Branex highlights the RISE with SAP cloud offering, the in‑memory HANA database and an embedded "Joule" copilot for predictive maintenance and forecasting. The agency reports subscription pricing for private edition mid‑market bundles "starting from ~$16,500+ (AED 60,000+) per month," FUE licensing around ~$250–$400 per FUE/month, and mid‑market implementation often starting at $250,000 (AED 918,000). Branex also flags a more accessible GROW with SAP public cloud path with implementations closer to $75,000 (AED 275,000) for smaller firms. Microsoft Dynamics 365 Business Central is recommended where companies already use Outlook, Excel and Teams — Branex notes deep Microsoft-suite integration and specific 2026 localisations for UAE e‑invoicing (PINT‑AE XML) and bilingual Arabic/English invoice requirements. The platform’s compatibility with Power BI and the newer "Copilot" assistant are listed as important advantages for Dubai trading and service companies. Outlook Branex, which says it is "creatively led. Results. Driven" and lists more than 500 active clients and "over 100 industry awards," frames the 15‑platform list as a starting point for Dubai CIOs and finance leaders choosing ERP in 2026. The report stresses matching scope — from NetSuite’s global mid‑market fit to SAP’s enterprise horsepower and Business Central’s Microsoft‑centric ease — to an organisation’s budget, local compliance needs and growth plans before committing to implementation costs and partner engagements. --- ## Not Asking for Permission: Inside Africa's $705 Million Startup Surge URL: https://startupsmena.com/not-asking-for-permission-inside-africas-705-million-startup-surge-africa-news-africacom-mo0m2hvi Date: 2026-04-15 Category: tech Tags: **Summary:** The investors are no longer the only ones setting terms. That, in the end, may be the most important data point of all. Africa startup funding, Debt Financing, Egypt tech, fintech Africa, Venture Capi African startups raised $705 million across 59 disclosed deals in 14 countries between January and late March 2026, a 26.5 percent increase on the same period a year earlier, according to data compiled by Condia and TechCabal Insights. The quarter’s funding was concentrated in Egypt ($190 million), South Africa ($157 million), Kenya ($114.5 million) and Nigeria ($78 million), but the defining feature of Q1 2026 was structural: for the first time, debt financing overtook equity in total capital volume. "They started coming to us," says Seun, a Lagos‑born entrepreneur who spent years pitching in London and San Francisco. "Not charity, not curiosity. Strategy." The shift from equity-first deals to performance‑backed financing is visible in the numbers. Of the 59 deals tracked, 15 were pure debt rounds and four were hybrid debt‑equity structures — meaning nearly a third of transactions involved some form of debt. Pure equity rounds raised approximately $212 million, while debt and hybrid instruments combined exceeded $490 million. Notable debt and hybrid deals included ValU’s $63.6 million debt facility from the National Bank of Egypt; SolarAfrica’s $94 million project debt round from Rand Merchant Bank and Investec; and Kenya’s Cold Solutions securing $19 million in debt from Mirova. Equity rounds and large growth transactions still featured. Kenya’s Sistema.bio closed a $53 million growth round and Zeno completed a $25 million Series A. Pan‑African company Spiro raised $57 million across two rounds for its electric motorcycle business, contributing to the $59.5 million raised by pan‑African startups in the quarter. "Investors are still deploying capital," one analyst noted. "They're just deploying it to companies with revenue, business models that withstand scrutiny, and paths to profitability that don't require heroic assumptions." Geography of deals is also shifting beyond the traditional Big Four of Lagos, Nairobi, Cairo and Cape Town: analysts are increasingly citing Dakar, Addis Ababa and Tunis as viable ecosystems. The investor base is diversifying as well, with Japanese investors making a notable appearance in Q1 deal flow alongside dominant US and European capital. The surge has come with pain. The quarter recorded more than 1,300 layoffs, including Kenyan climatetech firm KOKO eliminating its entire 700‑person team after a carbon credit dispute, neobank Kuda cutting over 100 jobs, Jumia exiting Algeria, Uber ceasing operations in Tanzania and Showmax announcing closures. The market is "sorting," the coverage notes, and companies that cannot meet revenue or capital thresholds are being left behind. Outlook Q1 2026 suggests African tech ecosystems are moving from a phase of speculative equity bets to one that rewards measurable performance and structured capital. With debt now representing the majority of capital deployed by volume and a broader geographic and investor footprint, the investors are no longer the only ones setting terms — founders with revenue and leverage are negotiating from strength. The coming quarters will test whether this re‑rating of business models sustains growth while also absorbing the painful shake‑outs that accompanied the transition. --- ## Ross Gerber Rips $24 Billion Saudi-Funded Hollywood Push, Questions Paramount Skydance–Warner Bros. Disco URL: https://startupsmena.com/ross-gerber-rips-24-billion-saudi-funded-hollywood-push-questions-paramount-skydancewarner-bros-disc-mo0lyt0p Date: 2026-04-15 Category: tech Tags: **Summary:** According to reports, roughly $24 billion in funding is coming from Middle Eastern investors, led by Saudi Arabia's Public Investment Fund, alongside the Qatar Investment Authority and Abu Dhabi-based Investor Ross Gerber took aim at reports that roughly $24 billion in equity commitments from Gulf sovereign funds are backing a proposed $110 billion merger between Paramount Skydance Corp. and Warner Bros. Discovery, saying the wave of Middle Eastern funding risks underestimating the dangers of the entertainment business. The funding — reported to be led by Saudi Arabia’s Public Investment Fund alongside the Qatar Investment Authority and Abu Dhabi-based funds — was described in reporting by The Hollywood Reporter and summarized by Benzinga as part of a financing package that could reshape the U.S. media landscape. Gerber, reacting on X, warned that "in every generation" Hollywood attracts a new wave of investors who may underestimate the risks of the entertainment business. Context and details Scale of the deal: The tie-up between Paramount Skydance and Warner Bros. Discovery has been described as a proposed $110 billion megamerger that would combine Paramount’s film library with Warner Bros.’ portfolio, spanning HBO, CNN and global television networks. Sources and allocation: Reports place roughly $24 billion of funding coming from Middle Eastern investors, with Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and Abu Dhabi-based funds among the backers. While regulatory filings have not specified exact contributions, sources cited by reporters indicate Saudi Arabia could account for about half of the total. Geopolitical and regulatory scrutiny: Beyond the financial scale, critics have raised concerns about potential political influence and soft power as Gulf sovereign funds deepen investments in U.S. media assets. Industry pushback: More than 1,000 actors and creatives — including Joaquin Phoenix, Ben Stiller and Kristen Stewart — signed an open letter urging regulators to block the merger, warning it could "undermine competition, weaken independent voices and concentrate too much control in the hands of a few powerful stakeholders," according to coverage of the letter. Market reaction: Benzinga reported that Paramount Skydance (NASDAQ: PSKY) closed at $10.73 on Monday, up 1.04% during the regular session, then slipped 0.47% to $10.68 in after-hours trading. Benzinga Edge data places PSKY in the 87th percentile for Value, a metric the outlet says indicates weak performance across short, medium and long-term timeframes. Observers note that regulatory filings related to the financing have so far lacked public detail on the exact allocation of the $24 billion in commitments, leaving open questions about investor governance arrangements and the terms that would accompany such sizable backstops. The involvement of major Gulf sovereign funds — particularly if Saudi Arabia’s Public Investment Fund supplies roughly half of the reported equity — is likely to intensify political and antitrust scrutiny as regulators and lawmakers weigh the transaction. Looking ahead, the combination of investor concern voiced by figures like Gerber, a high-profile open letter from creative industry talent, and outstanding disclosure questions suggests the deal will face not only financial due diligence but also sustained regulatory and public debate. Market participants will be watching subsequent filings and any regulatory inquiries closely for clarity on funding commitments, governance terms and whether the political and competitive objections will materially affect the merger’s path forward. --- ## Report: LIV Golf on verge of losing funding from Saudi investment fund, putting the tour's future in doubt - Yahoo Sports URL: https://startupsmena.com/report-liv-golf-on-verge-of-losing-funding-from-saudi-investment-fund-putting-the-tours-future-in-do-mo0lvcpf Date: 2026-04-15 Category: tech Tags: **Summary:** Immediately, speculation ran rampant that the breakaway Saudi-backed tour might be abruptly shutting its doors. And why not? Despite the deep pockets of Saudi Arabia’s Public Investment Fund, the now Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is reportedly on the verge of cutting funding for LIV Golf, a move the Financial Times said could effectively end the breakaway tour. A formal announcement could come "as early as Thursday," the FT reported, according to Yahoo Sports coverage. The PIF has put roughly $5 billion into LIV since the tour launched in 2022, even as the fund itself is colloquially valued in the neighborhood of $1 trillion. “No, sincerely we haven’t heard anything,” Sergio Garcia said when asked about the rumors, adding that Yasir Al‑Rumayyan, governor of the PIF, had told players “he is behind us with a long‑term project.” Context and recent developments The report followed a late‑Tuesday social media post that set off speculation the Saudi‑backed circuit might shut down. LIV Golf responded publicly with business‑as‑usual social media posts about tee times and media availability for this week’s Mexico City event, scheduled to begin Thursday. The PIF has been the tour’s primary backer, reportedly investing around $5 billion into LIV. High‑profile signings over LIV’s four years included Jon Rahm (signed three years ago), Bryson DeChambeau, Dustin Johnson, Phil Mickelson and others; some contracts were reported to surpass nine figures. Brooks Koepka and Patrick Reed have left LIV and accepted terms to return to the PGA Tour, underlining unrest among players who joined the Saudi venture. Longtime golf reporter Alan Shipnuck suggested a possible rationale for a sudden withdrawal: "Given the contracts LIV is under, including with players like Rahm and Bryson DeChambeau, as well as venues, vendors, sponsors, media outlets and every other entity it takes to run a professional sporting league, using the war in Iran to pull the plug on something you’ve already been considering pulling the plug on actually makes sense," Shipnuck wrote. The Financial Times report also coincided with a PIF statement outlining future investment prerogatives that made no mention of golf or sport. LIV’s brief history has been turbulent. Launched in 2022 with Greg Norman as a leading figure, the tour adopted a three‑round, 54‑hole shotgun format (the Roman numeral LIV equals 54), teams and entertainment elements that contrasted with traditional PGA Tour events. Early coverage focused on protests about the source of funding and human rights concerns. Phil Mickelson famously told Shipnuck, “They’re scary [expletives] to get involved with. We know they killed [Washington Post reporter Jamal] Khashoggi and have a horrible record on human rights. They execute people over there for being gay. Knowing all of this, why would I even consider it? Because this is a once‑in‑a‑lifetime opportunity to reshape how the PGA Tour operates.” Outlook If the PIF does cut funding, the consequences are likely terminal for LIV Golf as it presently exists. LIV has struggled with low television ratings, failed to land marquee signings since Rahm, and never progressed beyond a 2023 "joint framework agreement" with the PGA Tour that halted litigation but produced little operational merger. The disruption caused by LIV did, however, prompt changes at the PGA Tour, including a $1.5 billion cash infusion from outside investors such as Steve Cohen and Arthur Blank and new initiatives like the TGL indoor league. Whether those structural shifts will be the lasting legacy of LIV may become clearer in the coming days if the PIF confirms the Financial Times report. --- ## Bain Capital moves into Abu Dhabi to strengthen ties with Middle East investors URL: https://startupsmena.com/bain-capital-moves-into-abu-dhabi-to-strengthen-ties-with-middle-east-investors-mo0hpu31 Date: 2026-04-15 Category: funding Tags: Bain Capital, Abu Dhabi, private equity, Middle East **Summary:** Bain Capital has opened a new office in Abu Dhabi Global Market to deepen ties with Middle East investors, support capital formation and facilitate regional expansion for its portfolio companies. The move is intended to connect Bain’s global deal flow with local capital, customers and strategic partners in the Gulf. Bain Capital has opened a new office in Abu Dhabi Global Market, the private equity firm said in a move designed to expand its footprint across the Middle East and strengthen ties with regional investors. Announced on April 15, 2026 by Private Equity Insights, the office will serve as a regional hub to support capital formation, deepen long-term partnerships and facilitate the expansion of Bain Capital portfolio companies into the region. “Establishing a presence in Abu Dhabi is a natural next step, strengthening our ability to serve investors, support portfolio companies and engage with stakeholders to create long-term value together,” said David Gross, Managing Partner at Bain Capital. Context and strategic aims The Abu Dhabi office is intended to do more than provide a local address: Bain Capital plans to leverage the location to connect its portfolio companies with regional capital, customers and strategic partners. According to the firm’s announcement reported by Private Equity Insights, Bain is targeting sectors aligned with regional priorities and growth plans and is positioning itself to evaluate direct investment opportunities as markets continue to develop. Aviation Healthcare Digital infrastructure Financial technology The move builds on what Bain described as longstanding relationships in the region and follows a strategic partnership with the Abu Dhabi Investment Office. Bain says the expansion reinforces its role in supporting the development of financial infrastructure and next-generation investment platforms across the Gulf. As a regional hub located in Abu Dhabi Global Market, the office is intended to support capital formation activities — from fundraising and investor engagement to syndication with local partners — while also acting as a base for Bain’s portfolio companies seeking local customers and strategic alliances. The firm emphasized facilitation of market access and deeper stakeholder engagement as core functions of the new presence. Outlook Bain Capital’s entry into Abu Dhabi signals a deliberate effort to deepen engagement with Middle East investors and to position itself for direct investment opportunities as regional markets evolve. By aiming to bridge its global portfolio with local capital and customers, the firm seeks to create reciprocal value: providing regional investors access to Bain’s deal flow and expertise while helping portfolio companies scale in the Gulf market. The partnership with the Abu Dhabi Investment Office and the choice of Abu Dhabi Global Market as the office location underline a strategic approach focused on financial infrastructure and investment-platform development. For regional investors and potential partners, Bain’s statement frames the office as a long-term commitment to collaboration and market development rather than a short-term footprint. The announcement, published by Private Equity Insights and authored by Andreea Melinti on April 15, 2026, did not disclose staffing plans or immediate deal intentions, noting broadly that the firm will evaluate direct investment opportunities as markets continue to develop. --- ## Glydways backed by Sam Altman seeks $250 million to surpass $1B URL: https://startupsmena.com/glydways-backed-by-sam-altman-seeks-250-million-to-surpass-1b-mo0hmq3k Date: 2026-04-15 Category: tech Tags: **Summary:** Glydways, the autonomous vehicle startup backed by Sam Altman, is hoping to raise $250 million, enough to push its valuation over the $1 billion mark. The company just wrapped up a $170 million Series Glydways, the autonomous vehicle startup backed by Sam Altman, is seeking to raise $250 million in a funding round that would push its valuation past the $1 billion mark, the company confirmed. The fundraising follows a $170 million Series C round co-led by Suzuki Motor Corp., Khosla Ventures and Grupo ACS that put Glydways’ value "close to $700 million." The company is pursuing more than 20 projects worldwide, with particular focus on Japan and the Middle East, and already has deals in place for Abu Dhabi and Dubai. "Glydways is currently valued at $700 million," the company’s recent coverage states, underlining how the new capital would be used to scale operations and expand deployment. Funding, partners and technology The $170 million Series C, co-led by Suzuki Motor Corp., Khosla Ventures and Grupo ACS, was announced as the latest step in accelerating Glydways’ commercial rollouts. Suzuki is not only an investor but is also positioned to play a manufacturing role, with the report noting that the automaker is "even set to help build their vehicles." Glydways’ model is distinct from many autonomous vehicle approaches: the company focuses on dedicated-path robocars that run fixed routes without drivers. That operating model has attracted major strategic backers and driven interest in city and regional pilots. Glydways plans to use additional capital to broaden deployments, deepen partnerships and expand its engineering and operations teams. Projects and expansion plans More than 20 projects targeted worldwide, with emphasis on Japan and the Middle East. Deals already in place for Abu Dhabi and Dubai; Dubai is targeting commercial operation in 2027. A U.S. pilot is planned in Atlanta, according to the company’s rollout map. Headcount expansion: Glydways plans to double its current 270-person team to support growth. To support these deployments, Glydways intends to expand its workforce from roughly 270 people to a team twice that size. The company’s fixed-route approach—dedicated pathways and standardized vehicles—reduces the complexity of fully general-purpose autonomous driving and has been a central selling point to both public entities and large industrial partners. Outlook The targeted $250 million raise would be a watershed moment for Glydways, lifting it from a near-$700 million valuation to unicorn status if completed. With strategic investors such as Suzuki Motor Corp. participating in both capital and vehicle production, and backers like Khosla Ventures and Grupo ACS providing growth capital and industry connections, Glydways is positioned to accelerate pilots across the Middle East, Japan and the U.S. Commercial operations in Dubai aimed for 2027 and ongoing projects in Abu Dhabi and Atlanta will serve as early tests of the company’s fixed-route robocar approach; success in those markets will be key to translating investor confidence into broader global deployments. --- ## UAE Central Bank to Launch Nationwide e-KYC Platform to Boost Digital Onboarding and AML Compliance URL: https://startupsmena.com/uae-central-bank-to-launch-nationwide-e-kyc-platform-to-boost-digital-onboarding-and-aml-compliance-mo0e8b48 Date: 2026-04-15 Category: tech Tags: **Summary:** UAE Central Bank partners with Norbloc to launch a unified e-KYC platform, cutting compliance costs and boosting secure digital onboarding nationwide. The UAE Central Bank (CBUAE) has signed a technical partnership with Swedish technology company Norbloc AB to develop a nationwide unified e-KYC platform aimed at cutting duplication in customer due diligence, lowering compliance costs and strengthening alignment with anti‑money laundering and counter‑terrorist financing (AML/CFT) frameworks. Announced on April 15, 2026 and witnessed in Abu Dhabi, the platform is intended to support both traditional financial institutions and fintech firms by delivering faster, more reliable digital onboarding for individuals and businesses while enforcing strict data protection and consent controls. “The development of the e-KYC Platform represents a strategic transformation towards a more efficient and resilient financial ecosystem,” said Saif Humaid Al Dhaheri, assistant governor for banking operations and support services at the CBUAE. “Through this platform, we are enabling the sector to move away from resource‑intensive traditional processes towards progressive digital models that accelerate access to financial services and reduce operational costs.” The technical partnership agreement was signed by Saif Humaid Al Dhaheri for the CBUAE and Astyanax Kanakakis, CEO of Norbloc AB, with the ceremony witnessed by Khaled Mohamed Balama, governor of the CBUAE, and Ahmed Saeed Al Qamzi, assistant governor for banking and insurance supervision. According to the CBUAE, the platform will streamline Know Your Customer (KYC) and Know Your Business (KYB) procedures and strengthen due diligence through automated workflows and the integration of trusted data sources. Parties involved: UAE Central Bank (CBUAE) and Norbloc AB. Signatories: Saif Humaid Al Dhaheri (CBUAE) and Astyanax Kanakakis (Norbloc AB). Witnesses: Khaled Mohamed Balama (Governor, CBUAE) and Ahmed Saeed Al Qamzi (Assistant Governor, CBUAE). Announced: April 15, 2026, Abu Dhabi (WAM). Core aims: reduce duplicate customer due diligence, cut compliance costs, improve AML/CFT alignment, and speed up digital onboarding for individuals and businesses. Norbloc’s CEO underscores the platform’s technical orientation toward real‑time, consent‑driven data access. “By leveraging advanced technologies, we will enable financial institutions to access trusted and secure data in real time from multiple sources, enhancing operational efficiency while adhering to the highest international standards,” said Astyanax Kanakakis. “It also empowers users with full control over the management of access to their data.” The CBUAE emphasised that the solution will be underpinned by a “privacy by design” approach, enabling secure data sharing strictly on the basis of explicit customer consent to ensure confidentiality and data protection across the financial system. Operationally, the platform is expected to reduce turnaround times and operational costs by replacing resource‑intensive manual checks with automated workflows and pre‑verified data integrations. The CBUAE frames the move as a step to strengthen financial stability and the UAE’s competitiveness, positioning the country to further consolidate its role in the digital financial landscape. While the announcement sets out the strategic intent and governance signatories, the CBUAE did not publish an implementation timeline or rollout phases in the initial statement. The agreement marks a formal start to developing a national e‑KYC capability that regulators and market participants will watch closely for implications on onboarding speed, compliance burden and the customer consent model for shared financial data. --- ## Falcons of Majlis: Redefining the startup ecosystem in the UAE URL: https://startupsmena.com/falcons-of-majlis-redefining-the-startup-ecosystem-in-the-uae-mo09trhq Date: 2026-04-15 Category: tech Tags: **Summary:** Access over valuation: The new currency of startup growth in the UAE Falcons of Majlis, a UAE-based format conceptualised and produced by NKN Media, is positioning access — not valuation — as the central currency for startup growth in the Emirates. The series, which concentrates on startups solving UAE-specific challenges, follows a four-stage process that culminates in a “Ticket to Majlis”: a selective gateway into private investor rooms where family offices, private investors and strategic business leaders — the Falcons — engage in closed-door conversations focused on conviction and long-term alignment. The project is led at NKN Media by Abdul Majid Khan, Group CEO and MD, and will be hosted by Chitrangada Singh with broadcast across India Today Group channels, including India Today and Aaj Tak, and on a major OTT platform. “In today’s startup ecosystem, there is a lot of focus on visibility, but very little on intent. Falcons of Majlis is about shifting that focus to asking whether a founder is truly ready to build something meaningful, not just raise capital,” said Suniel Shetty, who serves as a mentor and Majlis authority on the series. How the Majlis format works Curated founder stories: selected founders present narratives about purpose and intent rather than headline valuations. Rigorous scrutiny: a council of VC analysts, legal experts and industry leaders evaluate credibility and readiness. Ticket to Majlis: a symbolic and strategic pass awarded to a few founders deemed ready for investor engagement. Closed-door Majlis: private meetings with the Falcons — no public pitches, no on-stage negotiations; focus on trust, conviction and partnership potential. Shetty, known as an actor, entrepreneur, investor and mentor, underscores that his role is to assess readiness rather than broker deals. “The ‘Ticket to Majlis’ is not a reward, it’s a responsibility. It represents trust, and the belief that a founder deserves to be in rooms where real decisions are made,” he said. His track record includes investments in consumer brands such as Beardo and Fittr, reflecting a preference for hands-on brand-building and long-term growth. Abdul Majid Khan framed the format as a response to a structural gap in how founders meet investors. “The UAE has capital and ambition, but there’s been a gap in giving founders structured access to the right investors,” Khan said. He noted NKN Media’s background — over 24 years of experience across global markets and partnerships built across more than 10 countries — as informing the platform’s combination of storytelling, distribution and investor matchmaking. “This is not just a funding platform, it’s where ideas meet mentorship and capital meets character,” he added. “In most formats you see a presentation, but in a Majlis, you understand the person.” Context and outlook Season one’s UAE-first mandate aims to align participating startups with local economic priorities, regulatory realities and sectoral needs. Outcomes from Majlis interactions are intentionally varied: some founders may secure immediate investments, others may form strategic partnerships, gain mentorship-led growth or receive deferred decisions. The format mirrors deal-making practices in the region — private, deliberative and relationship-driven — and seeks to formalise those dynamics into a repeatable ecosystem pathway. With broadcast reach via India Today and Aaj Tak and streaming on a prominent OTT service, Falcons of Majlis combines media scale with curated investor access, positioning itself as an alternative route for founders who prioritise long-term alignment over short-term valuation gains. --- ## Why Choose Dubai for Business URL: https://startupsmena.com/why-choose-dubai-for-business-ours-abroad-news-mo06ox87 Date: 2026-04-15 Category: saas Tags: Dubai, UAE, company formation, investment, backup, business continuity, infrastructure **Summary:** Founders joining the Dubai Chamber cite ease of company formation, legislative flexibility, and superior infrastructure as reasons to base operations in Dubai. Kip Run Technology's founder Nator highlighted stability, rapid procedures and global connectivity as key factors for launching in the emirate. Founders of several new companies joining the Dubai Chamber of Commerce say they chose the emirate for its streamlined company formation, attractive investment climate and flexible legislation. Among them, the founder and managing director of Kip Run Technology — identified in the report as Nator — highlighted stability, security, superior infrastructure and rapid procedures as the decisive factors behind establishing the firm in Dubai. "I always trust that any challenges can turn into real opportunities for growth, and this applies in the field of information technology. We provide advanced technical solutions based on backup and business continuity systems, ensuring that alternative systems are activated immediately upon any malfunction, without any service disruption," Nator said. Nator told the Dubai Chamber that his decision to launch Kip Run Technology in the emirate was driven primarily by the ease of company formation and the speed of procedures, combined with an investment environment that supports business growth. He singled out legislative flexibility and ongoing updates to investment laws — notably moves such as full foreign ownership of companies and long-term residency programmes — as key enablers that have cemented investor confidence. What founders point to as Dubai’s advantages Ease and speed of company incorporation and administrative procedures Flexible legislative frameworks and continuous updates to investment laws Stability, security and high quality of life Superior infrastructure and logistics with global connectivity via ports and airports Access to international markets supporting business continuity Beyond legal and administrative incentives, Nator emphasised Dubai’s logistical strengths: "Dubai provides unparalleled global connectivity through its ports and airports, which facilitates our smooth and efficient access to international markets, a critical factor in business continuity." He framed those logistical assets as central to the company’s ability to deliver high-availability server solutions and backup systems without service interruption. On the broader economic positioning, Nator argued that Dubai is more than a regional financial hub. "We believe that Dubai is not just a regional financial center, but a global model for economic flexibility and the ability to turn global geopolitical challenges into sustainable growth opportunities," he said, noting that the emirate has repeatedly demonstrated resilience through crises. He also stressed that current global uncertainties are not deterrents but tests of Dubai’s resilience: "We do not see current events as an obstacle, but as a new test of Dubai's resilience, which has always emerged from global crises stronger and more influential. Even amidst global uncertainty, the emirate continues to provide genuine, high-quality opportunities for those who possess focus, discipline, and a commitment to sustainable quality." Looking ahead, Nator expressed confidence in both his venture and Dubai’s business community: "I am proud to have started my professional journey in Dubai and to be joining the vibrant business community of the emirate, which continues to advance with confidence and ambition, based on a clear vision for the future." His comments reflect a broader trend among recent entrants who cite legislative reform, connectivity and stability as reasons to base operations in the UAE. --- ## Glydways targets $1 billion valuation with $250 million funding push URL: https://startupsmena.com/glydways-targets-1-billion-valuation-with-250-million-funding-push-the-hindubusinessline-mo01a0rf Date: 2026-04-15 Category: tech Tags: **Summary:** The San Francisco-based company is one of many startups backed by Altman, a prolific investor who led incubator Y Combinator before becoming OpenAI’s CEO. Glydways broke ground this year on a public s Glydways Inc., the San Francisco-based robocar startup backed by investor Sam Altman, is in talks to raise $250 million in a new funding round that would value the company at $1 billion or more, company founder and co‑CEO Mark Seeger said. The move follows a $170 million Series C that valued Glydways at almost $700 million and comes as the company accelerates plans for pod‑based autonomous transport projects across the US, Middle East and Asia. "In many markets, particularly in the Middle East and Asia, the dialogue has moved from skepticism to deployment," Seeger said, underlining industry interest as Glydways pitches a future of taxi‑like, on‑demand pod vehicles operating on dedicated two‑metre‑wide expressways. The Series C was co‑led by Suzuki Motor Corp., Khosla Ventures and Spanish construction conglomerate Grupo ACS, Seeger said. New backers include Obayashi Corp., and Mitsui Chemicals Inc. has also been named among partners seeking to tap the autonomous‑driving arena. Suzuki has committed to manufacturing Glydways’ vehicles, while construction partners for expressways and access points will vary by project. Glydways says it has more than 20 potential projects under negotiation globally. The company broke ground this year on a public system in South Metro Atlanta, Georgia, and is aiming for pilot operations near Atlanta’s Hartsfield‑Jackson Airport by year‑end. In the Middle East, Abu Dhabi and Dubai each signed separate agreements with Glydways to explore self‑driving public transportation systems; Dubai is targeting commercial operation in 2027. "We keep getting more customers, which means we need to scale the business faster," Seeger said, noting the capital intensity of rolling out dedicated lanes, access points and vehicle fleets. Glydways currently employs about 270 people and plans to double that headcount over the next two years to oversee global projects. Seeger also pointed to Japan as an early market where conversations matured into concrete partnerships. "Japan, along with a small set of forward‑looking partners globally, was one of the first places where the conversation clicked," he said, recalling that Masatoshi Abe, the former CEO of Osaka‑based used‑car dealer Heiwa Auto Co., was one of Glydways’ seed investors in 2017. The startup previously raised capital at a valuation of $350‑400 million in 2024. The company’s expansion faces geopolitical and cost headwinds. Bloomberg reporting cited an ongoing military conflict in the region and said "President Donald Trump has ratcheted up threats after the US and Iran failed to reach a peace deal," a dynamic contributors say could push materials costs higher. Those rising costs are already squeezing manufacturers in Japan; the report noted Honda Motor Co. is expected to record its first quarterly operating loss in five years and shelved plans to jointly develop an EV with Sony Group Corp. "That first wave of customers, that’s a lot of capital. That’s a lot of infrastructure. It’s a lot of risk to do that," Seeger added, framing the company’s near‑term challenge: raising substantial project‑level financing and navigating regulatory processes that differ by market. Fast facts Target raise: $250 million to reach $1 billion+ valuation Prior funding: $170 million Series C valuing Glydways at almost $700 million Backers: Sam Altman (investor), Suzuki Motor Corp., Khosla Ventures, Grupo ACS, Obayashi Corp., Mitsui Chemicals Inc. Planned projects: >20 potential projects globally; pilot near Hartsfield‑Jackson Airport (Atlanta) by year‑end; Dubai commercial target 2027 Staff: about 270 employees, plan to double in two years --- ## African startups raised $597m in Q1 2026; but fewer ventures are getting the money URL: https://startupsmena.com/african-startups-raised-597m-in-q1-2026-but-fewer-ventures-are-getting-the-money-mnzqpqyo Date: 2026-04-15 Category: tech Tags: **Summary:** Other startups that contributed with major rounds include Egypt-based e-commerce startup, Breadfast, which raised $50 million, and Ivorian mobility fintech GoCab, which closed a $45 million round. Nig African startups raised $597 million in the first quarter of 2026, according to data compiled by Technext. The total represents a 27.3% increase from the $469 million raised in Q1 2025 but falls 37.1% short of the $950 million recorded in Q4 2025. Technext’s analysis, published by Ejike Kanife, shows a notable shift in the composition of funding: debt now accounts for a slight majority of capital deployed. "debt funding pipped equity, with a little bit more coming in the form of debt," the report states, underscoring how financiers are increasingly using debt instruments across the continent. Major rounds that drove the quarter The $597 million total was unevenly distributed across three months. January brought $174 million, led by Egyptian fintech valU, which secured $64 million in debt from the Egyptian National Bank. Other January rounds included Nigerian mobility startup MAX raising $24 million in equity and asset-backed debt, NowPay raising $20 million, Moroccan proptech Yakeey closing a $15 million Series A, and Terra taking $12 million. February: $272 million, led by Benin-based e-mobility company Spiro with a $57 million round. Other notable February rounds: Egypt’s Breadfast $50 million; Ivorian mobility fintech GoCab $45 million; Nigerian defence tech Terra Industries $22 million; South African edtech Enko Education $22 million in debt financing; South African Lula $21 million. March: $151 million, led by Sistema.bio’s $53 million debt round; Egypt’s MNT-Halan raised $40 million via bond issuance; East African electric mobility startup Zeno closed a $25 million Series A. Across the quarter, debt financing narrowly outweighed equity: $304 million (about 51%) came as debt, $291 million (48.7%) as equity, and $2 million as grants. That contrasts sharply with Q1 2025, when Technext recorded $397 million — or 89% — of the period’s $469 million in equity funding and only $52 million (11%) in debt. Fewer companies are receiving capital Despite the larger headline number, the distribution of those funds shows concentration in a smaller set of deals. Technext reported that only 22 startups announced funding in March 2026 — the lowest monthly count since 2021. January saw 26 deals and February 40. The scarcity is most acute for very early-stage ventures: over the past 12 months just 130 early-stage startups announced equity rounds between $100,000 and $500,000, the lowest 12‑month total since at least 2021. Technext’s July 2025 analysis is cited to show a longer-term shift: early-stage investments fell from 87% of total equity funding in 2024 to 61% as of that report, indicating a reduced pool of seed and micro-round capital for younger founders. Outlook: While Q1 2026’s $597 million signals renewed capital deployment in African tech, the growing reliance on debt instruments and the shrinking count of funded startups raise warning signs for the pipeline of early-stage innovation. Investors and founders will be watching whether Q2 brings broader deal flow beyond the handful of large rounds that dominated the start of the year. --- ## Saudia and Neo Space Group announce the launch of one of the Kingdom’s most advanced in-flight connectivity services URL: https://startupsmena.com/saudia-and-neo-space-group-announce-the-launch-of-one-of-the-kingdoms-most-advanced-in-flight-connec-mnzqmfvk Date: 2026-04-15 Category: tech Tags: **Summary:** This partnership reinforces Saudi Arabia’s growing leadership in digital aviation and satellite-enabled services, supporting the Kingdom’s ambition to build a globally competitive space economy. Lockh Neo Space Group (NSG) and Saudia have launched one of the Kingdom’s most advanced in-flight connectivity (IFC) services, with Saudia set to provide complimentary high-speed internet to all guests across its global network. Powered by NSG Skywaves® and leveraging the SES Open Orbits™ multi-orbit architecture, the service positions Saudia as one of the first airlines in the Middle East to offer free broadband connectivity onboard, and marks a strategic step in NSG’s effort to scale sovereign, multi-orbit connectivity solutions with aviation as a cornerstone vertical. H.E. Eng. Ibrahim Al-Omar, Director General of Saudia Group, said: “As Saudia continues to scale its operations and invest in fleet modernization, strengthening our digital infrastructure remains a strategic priority. Connectivity today shapes how guests experience travel and how airlines differentiate themselves in a competitive global market. This partnership allows us to elevate the onboard experience while reinforcing our broader digital ecosystem, supporting our long-term competitiveness and sustained growth in an increasingly connected aviation landscape”. Context and technical details The IFC rollout integrates NSG Skywaves® with SES Open Orbits™, a multi-orbit network that combines GEO and MEO satellites to deliver low-latency, high-throughput broadband with global reach. The solution will use the certified Thinkom Ka2517 IFC antenna supplied by Eclipse Global Connectivity; Eclipse will lead equipment integration and certification for retrofitted aircraft. Service platform: NSG Skywaves® Satellite architecture: SES Open Orbits™ (GEO + MEO) Antenna: Thinkom Ka2517 IFC antenna (supplied by Eclipse Global Connectivity) Integration and certification: Eclipse Global Connectivity (for retrofitted aircraft) Eng. Haithem Alfaraj, CEO of NSG, framed the partnership as a national milestone: “This partnership embodies the spirit of Saudi progress. As a PIF company, we take pride in delivering advanced, sovereign connectivity at scale. Aviation is a strategic priority for NSG, and this milestone brings outstanding high-speed connectivity to passengers across the Kingdom and around the world.” The deployment is presented as part of Saudia’s broader transformation and its “largest-ever investment” in elevating the guest experience, spanning cabin modernization and next-generation digital services. NSG’s stated strategy is to scale sovereign, multi-orbit connectivity solutions across priority sectors, with aviation singled out as a foundational use case for mass-market adoption. Outlook Operationally, the combined NSG Skywaves® and SES Open Orbits™ architecture aims to support large-scale connectivity capabilities across Saudia’s fleet, delivering consistent broadband performance on long-haul and regional routes. With Eclipse handling antenna integration and retrofit certification, the rollout is positioned to move from initial deployments to fleet-wide availability. Beyond immediate passenger benefits, the partnership reinforces Saudi Arabia’s push to build a globally competitive space economy and expand satellite-enabled services. By offering complimentary onboard broadband and integrating multi-orbit satellite capacity, Saudia and NSG are seeking to redefine the digital travel experience while aligning with broader national objectives such as Vision 2030. --- ## Saudi Arabia Doubles Down on Tourism Startup Development. A Tourism Accelerator Returns to Scale the Ecosystem URL: https://startupsmena.com/saudi-arabia-doubles-down-on-tourism-startup-development-a-tourism-accelerator-returns-to-scale-the--mnzqipb0 Date: 2026-04-15 Category: other Tags: tourism, accelerator, saudiarabia, startup, investment **Summary:** The Tourism Development Fund’s Grow Tourism Accelerator launched its sixth four-month cohort to prepare tourism startups for scale, investment and ecosystem integration, offering mentorship, workshops, Silicon Valley exposure and a Demo Day to connect founders with investors. Saudi Arabia’s Tourism Development Fund has launched the sixth edition of its Grow Tourism Accelerator, a four-month intensive programme run by the Tourism Growth Center that aims to prepare tourism startups for scale, investment and deeper integration into the Kingdom’s tourism ecosystem. The initiative, described by organisers as a “non-dilutive model,” combines targeted workshops, sector mentorship and direct access to financing entities with an end-stage Demo Day where founders pitch to investors, government stakeholders and private-sector partners. "This is not another funding announcement. It is infrastructure," the programme materials state, underlining the accelerator’s role as a structured pathway from early-stage ideas to investment-ready businesses. Program design and immediate impact The Grow Tourism Accelerator follows an application, screening and interview process before startups enter a four-month acceleration phase. The Tourism Growth Center emphasises non-financial support—workshops, mentorship from industry experts and introductions across the tourism value chain—while actively connecting participants with investors already operating in the sector. Organisers have added an international layer to this cohort: participants will travel to Silicon Valley to attend the Plug and Play Summit, exposing founders to global benchmarks, investor networks and emerging tourism trends. The structure culminates in a Demo Day intended to convert the programme’s vetting and validation into tangible capital and commercial links. Edition: Sixth cohort of the Grow Tourism Accelerator Duration: Four months Operator: Tourism Growth Center, under the Tourism Development Fund International exposure: Plug and Play Summit in Silicon Valley Graduates to date: More than 30 startups Investment attracted by graduates: Over SAR 70 million Broader reach: Tourism Growth Center has reached more than 11,000 beneficiaries Why the model matters Programme advocates frame the accelerator as more than support for individual startups: "For founders, this lowers the friction between building and scaling. For investors, it creates a more qualified pipeline of opportunities in a sector that is central to Vision 2030," the report notes. The model aims to reduce early-stage risk by standardising how tourism ventures are validated and built. Early results suggest traction. More than 30 startups have graduated from previous cohorts and are operating in the market, collectively attracting more than SAR 70 million in investment. Across its wider activities, the Tourism Growth Center reports reaching over 11,000 beneficiaries—indicative of a concerted push to professionalise entrepreneurship inside the tourism sector. Outlook Organisers argue the accelerator is reshaping the ecosystem: "The result is a more investable, more connected tourism ecosystem." The key metric going forward will be conversion—how many alumni move beyond acceleration into sustained growth, regional expansion and larger funding rounds. With Silicon Valley exposure built into the cohort, Saudi organisers are also signalling higher benchmarks for competitiveness and global investor engagement. If the pipeline continues to convert into capital and scale, the Tourism Development Fund’s approach could shift the Kingdom from merely increasing tourism demand to creating the companies positioned to capture that demand as Vision 2030 unfolds. --- ## Building Tomorrow's Emirati Business Leaders: Inside the Founders of Tomorrow Initiative URL: https://startupsmena.com/building-tomorrows-emirati-business-leaders-inside-the-founders-of-tomorrow-initiative-mnzdhyb5 Date: 2026-04-15 Category: edtech Tags: Dubai SME, INJAZ UAE, Emirati students, incubation, mentorship, D33, university entrepreneurship **Summary:** Founders of Tomorrow is a national programme launched by Dubai SME with INJAZ UAE to connect Emirati university students and early-stage campus startups to live commercial challenges, mentorship, incubation and funding pathways into the Dubai SME ecosystem. The initiative aims to accelerate commercially viable student-led ventures and support Dubai’s D33 targets for Emirati business creation and SME growth. Founders of Tomorrow, a national programme launched by Dubai SME in partnership with INJAZ UAE, officially kicked off at Dubai Founders HQ on 11 February 2026 with a clear mandate: connect Emirati university students and early-stage campus startups to live commercial challenges and a direct pipeline into the Dubai SME ecosystem. The initiative sits within the Dubai Economic Agenda D33, which aims to double the city’s economy by 2033, and supports Dubai SME’s specific targets to facilitate the launch of 27,000 new Emirati businesses and enable 8,000 existing SMEs to sustain and grow by 2033. "it is designed to be a long-term, sustained commitment rather than a short-cycle competition or a one-off accelerator programme." Programme design and partners Founded by the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development — the operating arm of Dubai SME within the Dubai Department of Economy and Tourism — Founders of Tomorrow was developed with INJAZ UAE as delivery partner. INJAZ UAE, a member of Junior Achievement Worldwide, brings experience in youth entrepreneurship education; Junior Achievement reaches over 15 million students annually across more than 100 countries. The programme deliberately flips the usual university entrepreneurship model. Instead of asking students to invent ideas in isolation, participants are matched with "live" business challenges submitted by government, semi-government and corporate entities. For the inaugural cohort, challenge partners include American Hospital Dubai, du, Dubai Air Navigation Services, Dubai Police and Emirates Flight Catering — a cross-sector mix intended to expose students to the operational realities of healthcare, telecommunications, aviation, public safety and hospitality. What qualifying participants can access Business incubation : access to Dubai SME’s incubation infrastructure for workspace, operational foundations and business development support. Mentorship and capacity building : structured guidance from experienced practitioners to develop commercial and management skills beyond the core product or service concept. Funding facilitation : connections into Dubai SME’s funding channels to reduce the time and networks required to reach investors and financing bodies. Market access support : pathways into early commercial relationships through the programme’s government and corporate connections. Government procurement opportunities : active enablement for Emirati-owned SMEs to navigate procurement avenues that can provide early revenue stability. Participants work in multidisciplinary teams and progress through structured stages of ideation, validation and solution development under INJAZ UAE mentors. The most promising concepts do not merely receive recognition; they are routed into the Dubai SME ecosystem for incubation and further commercialisation. Outlook Founders of Tomorrow positions itself as a practical bridge between academic entrepreneurship and enterprise, prioritising market alignment and institutional continuity over short-term showcase events. By anchoring student innovation to organisations with operational budgets and procurement processes, the programme aims to accelerate commercially viable outcomes and give Emirati student founders early exposure to the complexity of enterprise-scale procurement — a competency that can materially increase the likelihood of sustained SME growth as Dubai pursues its D33 ambitions. --- ## Dubai realty shaken from West Asia conflict but holds its ground URL: https://startupsmena.com/dubai-realty-shaken-from-west-asia-conflict-but-holds-its-ground-the-economic-times-mnzb4rvp Date: 2026-04-15 Category: tech Tags: **Summary:** Some developers have also resumed ... launched an AED 5 billion commercial tower last week. BNW Developments is launching a residential project in Dubai while Sobha Realty has planned one in Abu Dhabi Dubai's property market showed resilience in the face of recent West Asia hostilities, but activity dipped sharply in early April as buyer sentiment and rental demand were hit by regional tensions. Official Dubai Land Department data show real estate transactions between April 1 and April 14 fell 14% year-on-year to 6,535 from 7,563 a year earlier, while transactions were 8% higher than in the same period last month. March transactions were also down, at 13,416 compared with 15,145 a year earlier, an 11.4% decline. "On-ground sentiment has definitely improved in the last couple of weeks, but it is still early for it to fully reflect in transaction volumes," said Aditya Earnest John, a Dubai-based real estate expert. Market indicators paint a mixed picture. While large-ticket deals continued—April's largest so far being an AED 171 million sale of an under-construction five-bedroom ultra-luxury apartment in Jumeirah Second and an AED 121 million under-construction apartment in Downtown Dubai—new rental demand plunged, and smaller developers moved to cushion buyers with discounts and flexible payment plans. Key figures and market moves Transactions (Apr 1–14): 6,535, down 14% year-on-year (7,563) March transactions: 13,416, down 11.4% year-on-year (15,145); 21% lower than February Largest April deal so far: AED 171 million (Jumeirah Second) Average annual rent under new agreements (early April): AED 20,000, versus AED 65,000 last month and AED 60,000 in April last year Average rent on renewals: AED 62,600 Some ready or near-handover properties selling 12–25% below peak prices, according to Aditya Earnest John Smaller developers have been more aggressive in responding to the demand shock, offering discounts, better payment plans and even absorbing the 4% registration charge levied by the Dubai Land Department. "In some cases, properties that are close to handover or ready are seeing distressed deals, selling 12-25% below peak prices," John said. He added that landlords are prioritising occupancy and stability over peak pricing, with rentals being negotiated down by "20-35% in some cases." Despite the slowdown, confidence signs remain: some developers resumed launches last week. Al Habtoor Group launched an AED 5 billion commercial tower, BNW Developments is launching a residential project in Dubai, and Sobha Realty has planned a project in Abu Dhabi. Rating agencies are cautious but not alarmist. S&P Global Ratings noted that while volumes and prices could slow, it "does not expect a 2008-style crash," citing stronger market regulations and residency programmes such as the 10-year Golden Visa. The agency also warned that "a meaningful correction is not outside the realm of possibility if the West Asia conflict is prolonged." ANAROCK Group chairman Anuj Puri said the true test of recovery will come from deals recorded in late April and May. "The real test of whether buyers have staged a convincing return will be deals notched up in late April and May, as these will give a clearer idea of how negotiations have fared after the ceasefire," he said, while noting that incoming data still point to a broadly intact structural demand story for Dubai real estate. --- ## Can Istanbul rival Dubai? Turkey looks to woo investors as Iran war reshapes region URL: https://startupsmena.com/can-istanbul-rival-dubai-turkey-looks-to-woo-investors-as-iran-war-reshapes-region-sunna-files-websi-mnz7miaw Date: 2026-04-14 Category: tech Tags: **Summary:** The official said that the possibility of Iran targeting the UAE’s financial centres and international companies in Abu Dhabi and Dubai could encourage some firms to relocate to Turkey. The Gulf hosts Turkey is actively pitching Istanbul as an alternative to Gulf financial hubs after the war involving Iran raised fresh concerns about the security of international capital in the United Arab Emirates. A senior Turkish official told international investors Ankara plans to extend tax incentives and other support to multinational companies similar to those already available at the Istanbul Financial Centre (IFC), and warned that the possibility of Iran targeting the UAE’s financial centres and international companies in Abu Dhabi and Dubai “could encourage some firms to relocate to Turkey.” “This should be interpreted, in a sense, as a demonstration of confidence in the Turkish economy, despite its vulnerabilities,” said Ceren Kenar, an expert on Turkey, after a World Economic Forum meeting in Istanbul that drew 40 global CEOs and was hosted by President Recep Tayyip Erdogan. Context and incentives on offer The IFC already offers a range of tax breaks intended to attract banks, multinational companies and financial service providers. Key measures include: Income derived from exported financial services is fully deductible from corporate income tax, while related transactions are exempt from associated charges. Payroll tax incentives for internationally experienced personnel: 60% or 80% of real net monthly wages are exempt from income tax, depending on years of overseas experience. Bloomberg has reported the government is preparing to extend some of these tax incentives more broadly to multinational companies, including proposals to allow companies to deduct 50% of income earned from selling or intermediating goods sourced abroad without bringing them into Turkey. Turkey has been actively courting international investors. Earlier this month Erdogan hosted 40 global CEOs in Istanbul at a meeting organised by the World Economic Forum. Larry Fink, chair of the WEF’s board of trustees and chief executive of BlackRock, was among the organisers. Alois Zwinggi, interim president and chief executive of the WEF, said Turkey “played an increasingly strategic role in trade, investment and production networks.” Ahmet Ihsan Erdem, chief executive of the Istanbul Financial Centre, told Reuters that the IFC had held meetings with 40 companies from East Asia and the Gulf interested in partially relocating to the IFC or expanding in Turkey because of the Iran war. Outlook and obstacles Despite the outreach, analysts and investors caution that Turkey faces hurdles in converting interest into relocations. Inflation is a pressing concern: the article cites expectations that inflation will reach 25% this year, and Turkey is running a widening trade deficit. Investors also point to political and legal risks. One international banker told Middle East Eye bluntly: “No one trusts the Turkish courts.” Concerns about state intervention were underscored by references to the government’s seizure of Papara, a fintech startup valued at over $1bn, once considered Turkey’s first fintech unicorn. The example fuels unease among foreign investors about the stability of ownership and regulatory treatment. Introducing a legal framework equivalent to the Dubai International Financial Centre (DIFC) would be controversial. The DIFC operates under its own civil and commercial laws—based on English common law—and includes the independent DIFC Courts. Guven Sak of the Tepav think tank said: “It would be a tough sell for the government. But Ankara can still try to reassure financial companies within the existing legal structure.” --- ## ROKIT Healthcare Signs $20.7M MOU with UAE Royal Investment Group URL: https://startupsmena.com/rokit-healthcare-signs-207m-mou-with-uae-royal-investment-group-wowtale-mnz5mh4d Date: 2026-04-14 Category: healthtech Tags: AI, regenerative medicine, investment, UAE, joint venture, MENA **Summary:** ROKIT Healthcare, a South Korean developer of AI-driven organ regeneration platforms, signed an MOU with UAE royal-backed Master Investment Group for a ~$20.7M equity investment and to form a joint venture (ROKIT MENA) to commercialize and manufacture in the UAE. ROKIT Healthcare, a South Korean developer of AI-powered hyper-personalized organ regeneration platforms, has signed a strategic memorandum of understanding (MOU) with Master Investment Group (MIG), a UAE royal family-backed investment institution, for a direct equity investment of approximately $20.7 million USD (KRW 30 billion) and the establishment of a joint venture in the United Arab Emirates. The parties said MIG will provide the cash capital and ROKIT Healthcare will contribute its core AI organ regeneration platform technology as an in‑kind investment to the planned Middle East joint venture, tentatively named ROKIT MENA. "Sheikh Abdullah's personal visit to Korea, even amid serious international tensions, is a testament to the overwhelming value of our AI regenerative medicine technology," said Yoo Seok-hwan, CEO of ROKIT Healthcare. "With this large-scale investment and JV establishment as a turning point, ROKIT Healthcare will leap forward as a game-changer leading the global AI organ regeneration field." Context and deal details The MOU follows a personal visit by H.H. Sheikh Abdullah bin Mohammed bin Sakr Al Qasimi, CEO of the Ras Al Khaimah (RAK) royal family and representative of MIG, who traveled to ROKIT Healthcare's headquarters in Seoul to review the company's AI-driven organ regeneration and anti-aging technology. The trip, which came amid heightened geopolitical tensions in the Middle East, was highlighted by both parties as an indication of strong commitment to the partnership. MIG, described in the announcement as an anchor investor charged with attracting strategic industries and fostering infrastructure development, will commit roughly $20.7 million USD (KRW 30 billion) in capital to the JV. ROKIT Healthcare will transfer its AI organ regeneration platform technology to the joint venture as an in-kind contribution. The agreement anticipates the establishment of a local manufacturing facility in the UAE and the creation of AI-based regenerative medicine clinics and local commercial production capacity. The announcement noted MIG's prior early-stage investments in global deep tech companies, including Nauticus Robotics, positioning the group as an investor with experience in scaling specialized technology businesses into new markets. Outlook ROKIT MENA is expected to use the UAE as a regional hub for commercial production and clinical deployment, with plans to expand a medical network into major Gulf Cooperation Council (GCC) countries, including Saudi Arabia, and onward into European markets. The company framed entry into the GCC — estimated in the release to encompass around 15 million potential patients — as completing a global direct-sales triangle spanning the United States, China, and the Middle East and Europe. Both parties said they will finalize a detailed investment agreement in the near term and proceed with joint-venture establishment activities. The deal signals ROKIT Healthcare's bid to leverage Middle East capital and infrastructure to commercialize its AI-driven regenerative medicine technologies outside of Korea. Investor: Master Investment Group (MIG), UAE royal family-backed Target: ROKIT Healthcare (South Korea) Investment: ≈ $20.7M USD (KRW 30 billion) JV: Tentatively named ROKIT MENA Contributions: MIG – cash; ROKIT – AI organ regeneration platform (in‑kind) Planned footprint: UAE manufacturing, AI regenerative clinics, expansion to GCC and Europe --- ## How UAE startups can build stronger businesses in uncertain times: What to cut, protect, and prioritise URL: https://startupsmena.com/how-uae-startups-can-build-stronger-businesses-in-uncertain-times-what-to-cut-protect-and-prioritise-mnz5i7ct Date: 2026-04-14 Category: other Tags: cost-cutting, runway, startups, UAE, founders, revenue, cash-flow **Summary:** UAE founders advise startups to cut non-core burn while protecting revenue engines, delivery quality and financial controls, acting early to stabilise runway and enable later growth. Faizan Mandavia of FAM Group and Ayshwarya Chari of 1115inc outlined practical steps such as pausing untracked marketing, consolidating tools, and flexible payroll. Startups in the UAE facing tighter cash flows should prioritise what directly sustains revenue and delivery, and cut “non‑core burn” rather than the company’s operational muscle, say founders and operators on the ground. Speaking in Dubai, Faizan Mandavia, Founder and Group CEO of FAM Group, and Ayshwarya Chari, Co‑founder of 1115inc, set out a playbook for founder-led cost reviews that stresses early, targeted action and sequencing cuts before growth pushes. (Last updated: April 14, 2026) “They cut too late or too emotionally,” Mandavia warns, summing up a common founder mistake that turns manageable adjustments into damaging, broad retrenchments. Both Mandavia and Chari distinguish between costs that keep a business alive and those that merely maintain visibility or comfort. As Chari puts it, “Revenue does. So the real focus has to be on what the business can sell right now. That might mean refining your current offering, improving conversion, or even adjusting to what the market actually needs today.” What to cut, protect and prioritise Their advice can be grouped into practical, actionable steps that founders can implement quickly: Cut non‑core burn, not muscle: identify marketing spend, brand campaigns or experimental ads without traceable ROI and pause them until they can be tied to customer acquisition, conversions or retention. Consolidate tools and subscriptions: eliminate under‑utilised software and reduce recurring costs so teams work smarter, not heavier. Avoid premature scaling: defer hiring ahead of need, pause office upgrades or unnecessary infrastructure builds that create fixed costs before revenue supports them. Protect survival infrastructure: Mandavia cites three untouchables — the revenue engine (sales capability and client relationships), delivery quality, and financial visibility (reporting and controls). “Cutting these saves money short‑term but kills the business quietly,” he says. Manage payroll pressure with flexibility: shift compensation toward performance‑linked pay, create multi‑hat roles, pause hiring and redeploy internal capacity, or outsource and fractionalise non‑core roles instead of immediate layoffs. Remove invisible friction: Mandavia highlights the payoff from pruning “busy work disguised as operations,” such as duplicate reporting or redundant follow‑ups that consume headcount without improving outcomes. Sequence, the founders argue, is critical. “Both, but sequence matters,” says Mandavia, summing up the balancing act between cost discipline and growth. His recommended order is clear: “First: stabilise cash flow, which means cut waste, extend runway. Then: push aggressively on revenue generation.” Outlook: The central risk is delay. When founders wait for a rebound instead of making targeted adjustments, inefficiencies compound and options dwindle. By acting early to strip non‑compounding costs while safeguarding sales, delivery and financial controls, UAE startups can stabilise runway and retain the capacity to scale once market conditions improve — shifting from reactive survival to deliberate recovery. --- ## Best Mobile App Development Companies in UAE with Top Ratings URL: https://startupsmena.com/best-mobile-app-development-companies-in-uae-with-top-ratings-monu-mnz32u0f Date: 2026-04-14 Category: tech Tags: **Summary:** Whether you need the best mobile app development company Abu Dhabi for a targeted regional launch or a global-scale best app development company Abu Dhabi and Dubai-based team, the opportunities are e The United Arab Emirates has positioned itself as a regional hub for mobile application engineering as demand rises for sophisticated, locally compliant products across Dubai and Abu Dhabi. A Monu review of the market highlights that businesses now require full-stack partners able to deliver secure, scalable apps that integrate local services such as UAE PASS and regional payment gateways. The piece singles out DeviceBee as a leading mobile app development company in Dubai, capable of serving startups through to enterprise and government-scale projects. "Their reputation as a provider of the best mobile app development service in dubai is built on a foundation of transparency, technical rigor, and a deep passion for innovation." That assessment sits inside broader observations about how app development in the UAE has evolved. Monu notes that Dubai remains a primary incubator for tech startups and international firms, with demand moving beyond simple consumer-facing apps toward "Super Apps"—platforms that combine multiple services into one interface. The article emphasizes the role of technologies such as Flutter and React Native for cross-platform builds, alongside increasing integration of Web3 and machine learning to create personalized user journeys. What businesses should expect from top UAE app developers Consultancy and Strategy: defining the MVP, roadmaps, and long-term scalability plans. Creative UI/UX Design: interfaces tailored to a multicultural user base and regional expectations for speed and aesthetics. Agile Development: frequent testing, iterative releases and strong post-launch support to minimize downtime. Local Integration: experience implementing UAE-specific services such as UAE PASS and regional payment gateways. Monu warns that selecting the right partner requires evaluating portfolios across industries like fintech, healthcare and e-commerce, and prioritizing teams that combine strategic consulting with engineering depth. The review also stresses the need for localized expertise in Abu Dhabi, where regulatory frameworks and enterprise procurement often differ from Dubai and require specialized handling by a "best mobile app development company Abu Dhabi." On the technology front, the article highlights that leading UAE developers are expected to bridge native and cross-platform approaches, and to guide clients on where to apply AI to personalize experiences. For companies aiming to build complex multi-service ecosystems, Monu suggests partnering with teams familiar with both the technical stack and regional user expectations. Outlook: As the UAE market continues to shift toward integrated, AI-driven mobile products, Monu frames investment in a vetted Dubai- or Abu Dhabi-based app partner as a strategic necessity for firms seeking market traction. Whether the objective is a regional rollout across the seven emirates or a global-scale product backed by local compliance, DeviceBee and similar local vendors are presented as viable partners to translate business goals into production-ready mobile platforms. --- ## Etihad Airways Launches Five New Direct Routes to China: 28 Weekly Flights Boost Abu Dhabi-China Tourism Network Through 2027 URL: https://startupsmena.com/etihad-airways-launches-five-new-direct-routes-to-china-28-weekly-flights-boost-abu-dhabi-china-tour-mnz1344o Date: 2026-04-14 Category: other Tags: aviation, airlines, tourism, travel, China, Abu Dhabi, partnerships, logistics **Summary:** Etihad Airways is launching five new direct routes from Abu Dhabi to Shanghai Pudong, Guangzhou, Chengdu, Hangzhou and Shenzhen, adding 28 weekly flights in a phased rollout from October 2026 to March 2027 and projecting $2–3 billion in tourism growth through 2027. Etihad Airways announced a major expansion of its China network, launching five new direct routes from Abu Dhabi to Shanghai Pudong, Guangzhou, Chengdu, Hangzhou and Shenzhen. The move adds 28 weekly flights and increases services from seven weekly flights to 35 weekly services across six mainland gateways — including the existing Beijing Daxing link — in a phased rollout scheduled from October 2026 through March 2027. The carrier expects the expanded connectivity to boost tourism flows between the UAE and China and is projecting $2–3 billion in tourism growth through 2027. "This strategic growth adds twenty-eight new weekly flights to Etihad's China portfolio, positioning Abu Dhabi as the essential gateway for travelers seeking access to China's secondary cities and beyond." Route-level context and product choices Etihad will deploy Boeing 787-9 aircraft on the new services, citing the type's passenger comfort and lower emissions as key advantages for long-haul leisure and business travel. The airline tailored each route to specific market segments and tourism opportunities: Shanghai Pudong: Identified as receiving the largest capacity allocation and serving as a gateway for luxury tourism, Yangtze River cruises and high-speed rail extensions in eastern China. Guangzhou: Targeted for its Cantonese cuisine trails, Pearl River night cruises and family-reunion travel; the city will see daily service frequencies to accommodate leisure travellers. Chengdu: Positioned as an access point for panda sanctuaries, eco-tourism and Sichuan cuisine, appealing to nature-focused visitors and families. Hangzhou: Marketed for cultural immersion around West Lake and heritage silk markets, with improved Abu Dhabi connections for international itineraries. Shenzhen: Framed as an innovation and leisure hub inside the Greater Bay Area, attracting entrepreneurs, business travellers and weekend visitors with tri-weekly frequencies. Partnerships, passenger benefits and economic ties Etihad is deepening its strategic partnership with China Eastern Airlines to amplify reach across China's domestic network through codeshares and integrated loyalty offerings. The alliance will deliver specific passenger benefits and commercial synergies, including: Priority boarding and lounge access for premium passengers, and seamless connections to China Eastern’s domestic network. Bundled packages combining multiple destinations and coordinated marketing to promote multi-city tourism experiences. Improved cargo and e-commerce logistics aligned with UAE–China trade, supporting both passenger and freight flows. The airline and regional forecasters expect the expansion to generate broader economic benefits: increased transit passenger volumes at Abu Dhabi International Airport, extended layover tourism, and trade-tourism integration that supports e-commerce, business travel and conservation-linked tourism in regions such as Sichuan. Independent regional forecasts cited in the rollout project 10–15% annual tourism growth across the network, reinforcing Etihad's positioning of Abu Dhabi as a neutral, well-equipped hub for Asia–Middle East travel. Outlook With a phased launch from October 2026 to March 2027 using the fuel-efficient Boeing 787-9 and joint commercial initiatives with China Eastern Airlines, Etihad aims to scale capacity without disrupting airport operations. The carrier’s strategy ties sustainability, passenger experience and economic integration together as it pursues an expanded role for Abu Dhabi in UAE–China tourism and trade, with projected tourism gains of $2–3 billion through 2027 and double-digit annual growth forecasts for the new corridors. --- ## Why Disney's $60B Secret Weapon Isn't a Ride, It's the 'Human Bridge' - Walt Disney (NYSE:DIS), General M URL: https://startupsmena.com/why-disneys-60b-secret-weapon-isnt-a-ride-its-the-human-bridge-walt-disney-nysedis-general-m-benzing-mnz0zlim Date: 2026-04-14 Category: tech Tags: **Summary:** Rising "war risk" insurance premiums and shifting travel patterns in the Gulf require a more nuanced approach to the proposed $10 billion Disneyland Abu Dhabi project. The true test of the Disney Shan Walt Disney Co. (NYSE: DIS) is leaning on what a Benzinga contributor calls a $60 billion “Stability Index” built around a strategic “Human Bridge” as it expands globally — a model tested in Shanghai and applied to new ventures such as the March 2026 launch of the Disney Adventure cruise ship in Singapore and the proposed $10 billion Disneyland Abu Dhabi. The contributor cites a number of concrete markers of that approach: a 100 million guest validation in Shanghai, a $1.8 billion retrofit of the Disney Adventure that saved development time, and the use of cultural and educational platforms such as Disney English to anchor local trust. Direct quote "The 'Human Bridge' is the secret weapon that will define the success of their $60 billion mandate," the Benzinga contributor wrote, adding that the strategy has become the company's de facto "Stability Index." Context and details The Benzinga piece frames Disney's international play as a contrast between what it calls "Landlord IP" — exporting a Western product with limited local adaptation — and "Architectural IP," which builds localized assets and institutional trust. The contributor highlights creative executive Rick Law as a central figure in Disney’s approach to China, citing his work on Disney English and theme park consulting as instrumental in transforming Disney from a foreign operator into a domestic partner. That process culminated, according to the piece, in 2025 when Law "became the first non-Chinese dual judge for the Golden Monkey King and CACC Golden Dragon Awards," milestones the author describes as evidence of achieving "Cultural Peerage." On new projects, the contributor argues Disney is doubling down on the same human-centric logic. The Disney Adventure retrofit — described in the piece as a $1.8 billion effort — was positioned as a faster, lower-friction deployment of localized content in Singapore. The company is reportedly using "advanced AI and videogame engines" to accelerate cultural adaptation and storytelling, aiming to make attractions resonate emotionally with local guests rather than function as transient "tourist traps." At the same time, regional risks in the Gulf are forcing adjustments. The article points to rising "war risk" insurance premiums and shifting travel patterns as complicating factors for the proposed $10 billion Disneyland Abu Dhabi, suggesting the Dubai/Abu Dhabi market will require an even more nuanced application of the Shanghai model to justify big-ticket infrastructure. Outlook The Benzinga contributor frames the “Human Bridge” not just as a marketing strategy but as a fiduciary standard for capital deployment abroad: "investors should view the 'Human Bridge' as a fiduciary requirement." For Disney, the next tests are whether the Shanghai-derived playbook can be exported to the Gulf and other regions without eroding regulatory protections or losing cultural legitimacy. Key levers: localized creative partnerships, educational integration (e.g., Disney English), and technology-driven storytelling. Near-term indicators: performance of the Disney Adventure in Singapore and progress on the Disneyland Abu Dhabi planning amid rising insurance and geopolitical costs. Long-term risk mitigation: securing "Cultural Peerage" and institutional trust to build a regulatory hedge and a competitive moat. --- ## ADIB expands network with new branch at Dubai Hills Mall URL: https://startupsmena.com/adib-expands-network-with-new-branch-at-dubai-hills-mall-mnz17gxg Date: 2026-04-14 Category: tech Tags: **Summary:** Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has further expanded its retail network with the launch of a cutting-edge universal Abu Dhabi Islamic Bank (ADIB) has opened a new universal branch at Dubai Hills Mall, expanding its UAE retail footprint to 62 branches and reinforcing its presence in high-traffic lifestyle destinations. The new outlet — described by the bank as "a cutting-edge universal branch at Dubai Hills Mall" — is part of ADIB's stated strategy to bolster accessibility across the Emirates and to align its physical network with its Vision 2035 objectives. "The branch integrates innovative self-service solutions with in-person expertise," the bank said, outlining the design intent to enable faster transactions, improved accessibility and an enhanced overall banking journey. The format is positioned to serve both everyday retail customers and businesses, while providing "dedicated relationship support to high-value customers and businesses." Branch model and customer experience The Dubai Hills Mall location is configured as a universal branch, combining self-service technology with on-site advisory and relationship management. ADIB's rollout emphasises next‑generation branch formats that marry personalised advisory services with seamless digital integration, allowing customers to shift between digital channels and face-to-face support depending on their needs. According to the bank's statement, the branch will offer comprehensive retail and business banking services and is designed to reflect "how customers choose to bank today in a convenient, relationship‑driven, and technologically enabled way." The launch raises ADIB's tally of mall-based outlets to 25, a strategic focus for the bank as it targets high-footfall, lifestyle-driven environments. Strategic context UAE branch network: 62 branches in total across the country. Mall locations: 25 branches located in major mall destinations. Service scope: Retail and business banking, plus dedicated support for high-value customers and businesses. The move sits alongside other recent ADIB group activity highlighted on the bank's communications channels. ADIB Capital Limited, the group's asset management arm, earlier in April launched the ADIB Global Healthcare Fund in partnership with BlackRock, signalling continued expansion across both retail banking and asset management businesses. Outlook ADIB framed the Dubai Hills Mall opening as "another milestone in ADIB’s retail expansion strategy" as Dubai evolves as a major residential and commercial hub. The bank said that by "continuously enhancing its physical and digital touchpoints, ADIB remains committed to redefining customer-centric Islamic banking and building deeper relationships within the communities it serves." With the new universal branch format now deployed in a prominent retail destination, ADIB appears to be doubling down on a hybrid model of branch experience and digital services. The organisation's next steps will likely focus on scaling similar formats in other high-footfall locations while integrating further digital capabilities to streamline transactions and advisory services across its growing UAE network. --- ## Why Entrepreneurs Choose Dubai for Business Growth and Investment URL: https://startupsmena.com/why-entrepreneurs-choose-dubai-for-business-growth-and-investment-time-news-mnz0wwuf Date: 2026-04-14 Category: tech Tags: **Summary:** Bright Tuibiz, founder and General ... pace of Dubai’s economic expansion naturally drives the demand for high-quality, reliable services. Having resided in the city for over five years, Tuibiz observ Dubai welcomed 2,709 new members to the Dubai Chamber of Commerce in March, a spike that city officials and business leaders say underscores the emirate’s growing role as a strategic hub for international expansion. Entrepreneurs from sectors as varied as medical supply chains, high‑tech IT infrastructure and specialist services are citing regulatory changes — including full foreign ownership and long‑term residency programs — alongside world‑class logistics and digital infrastructure as decisive factors in choosing Dubai as a base. The reporting appears in a recent piece by Ethan Brooks on April 14, 2026. "This 'proactive approach' manifests in a support system that helps startups not only launch but scale their competitiveness within the macroeconomy," said Bright Tuibiz, founder and General Manager of True Glow Cleaning Services, who has lived in Dubai for more than five years. Context and sector detail Founders and CEOs profiled in the report highlighted complementary reasons for relocation and registration. Mohannad Al‑Nattour, founder and CEO of Ortho Hub for medical and surgical supplies, said the move was a "strategic decision based on a precise reading of the current economic and political climate." He added that "the reliability of Dubai’s legislative policies and its superior logistical infrastructure—specifically its world‑class ports and airports—are decisive factors" for companies that depend on continuity and rapid access to international markets. In technology, Amer Qima, founder and General Manager of Keep Run Technology, pointed to administrative ease and hard infrastructure as enablers. Qima, whose firm provides business continuity, backup solutions and high‑availability servers, noted that the speed of company formation and administrative procedures, together with heavy investment in digital networks, let IT firms deliver the "zero downtime" service levels global clients expect. Service entrepreneurs report similar tailwinds. Tuibiz said Dubai’s expanding economy creates constant demand for "high‑quality, reliable services" and that public and private support structures make it possible for SMEs to scale. The diverse influx of companies — from healthcare and trade to professional services and information technology — suggests Dubai is serving as a gateway for companies seeking operational stability and market access rather than merely a regional financial center. Key drivers and outlook Legislative Agility: Rapid updates to investment laws and residency permits to attract global talent. Logistical Connectivity: Seamless integration between air and sea freight, reducing time‑to‑market. Operational Stability: A consistent record of security and investment protection. Market Demand: A growing population and expanding economy creating demand for specialized services. Technological Infrastructure: Investments enabling business continuity and advanced IT services. Looking ahead, the article flags quarterly economic reports as the next benchmark to test the sustainability of current inflows and the long‑term impact of residency and ownership reforms on foreign direct investment. As Dubai integrates AI and green technologies into its commercial fabric, founders and investors will be watching whether recent growth translates into durable headquarters decisions and deeper regional integration. --- ## The new Dubai: Wealthy flock to secret boomtown with fast-rising skyline as Middle East exodus fuels rush to the Americas URL: https://startupsmena.com/the-new-dubai-wealthy-flock-to-secret-boomtown-with-fast-rising-skyline-as-middle-east-exodus-fuels--mnyxfdrg Date: 2026-04-14 Category: tech Tags: **Summary:** Dubai has long been presented as the Middle East's gold-plated success story. But as the war with Iran drags on, the millions of expats who call the glittering UAE city home are reconsidering. Dubai's image as the Middle East's gold‑plated success story is under pressure as the war with Iran prompts an exodus of expatriates and a scramble for alternative havens. Official figures cited by the Daily Mail show one in eight British expats evacuated the UAE when missiles began landing in Dubai, and the city—whose population is made up primarily of expats, "up to 90 per cent by some estimates"—faces what industry insiders describe as significant capital rotation. At the same time, an unlikely contender in the Americas, Balneário Camboriú in Brazil, is being touted as a magnet for wealthy buyers, boasting five of South America's seven tallest skyscrapers and signature towers such as the 965‑foot Yachthouse Residence Club and the 951‑foot One Tower. "There is a lot of uncertainty," said Rubens Brotto, a super prime estate agent in London and the Americas with NestSeekers International. "In terms of capital rotation, there is a lot of movement. People from London who had moved to the Middle East – mostly Dubai – because of taxes, are making their way back to Europe." Context: reactions, risks and rival skylines Sources contacted in Dubai provided mixed signals. Some executives declined to speak to the press, while others emphasised continuity: one well‑connected Brit said, "I've had a business in Dubai for 20 years… and don't see myself or my business moving at this juncture. It's just business as usual." An owner of an international brokerage added: "A return to orderly life is just around the corner. I believe most are resilient enough to stay put and carry on thereafter." At the same time, the Emirate's response to reporting and commentary has been sharp: the Daily Mail notes that the UAE has fined, banned or even jailed those who photograph explosions or make comments perceived to paint the country negatively, complicating independent assessments of any sustained capital flight. Balneário Camboriú: the 'Brazilian Dubai' Balneário Camboriú, nicknamed the "Brazilian Dubai" or "BC," has rapidly transformed from a fishing village into a skyline of super‑tall residential towers. Pininfarina Chief Architectural Officer Samuele Sordi told the Daily Mail the city's high‑rise boom was inspired by Dubai: "It was once 'a forest of white concrete buildings' and the rapid, large‑scale development is indeed reminiscent of its Middle Eastern model." Sordi added that "Brazilians were looking at Dubai as a very exotic destination that is very successful in terms of business" and "They were looking at Dubai as a kind of benchmark." Wealthy Brazilians and celebrities, including soccer star Neymar Jr, have been drawn to the market. One in eight British expats reportedly left the UAE when missiles struck Dubai. Dubai's population is estimated to be up to 90% expatriate. Balneário Camboriú hosts five of South America's seven tallest skyscrapers, including the 965‑ft Yachthouse and the 951‑ft One Tower. Outlook Industry observers warn that a sustained, long‑term movement of capital and residents away from the UAE would pose a direct challenge to Dubai's business model, which depends heavily on expatriate inflows. Developers and cities in the Americas are already building high‑end projects aimed at capturing mobile wealth, but the true scale of any shift remains hard to quantify given travel‑and‑speech restrictions and the reticence of many residents and executives to discuss relocation plans publicly. For now, the market appears fluid: parties on both sides of the equation are preparing for change while many residents continue to declare their intent to stay. --- ## LPM Abu Dhabi launches its new signature sharing menu URL: https://startupsmena.com/lpm-abu-dhabi-launches-its-new-signature-sharing-menu-mnytpr1a Date: 2026-04-14 Category: other Tags: restaurants, hospitality, food & beverage, sharing menu, Abu Dhabi, La Petite Maison, French-Mediterranean **Summary:** La Petite Maison (LPM) Abu Dhabi has launched Le Menu Signature at its Galleria Al Maryah Island restaurant — a curated communal sharing menu available for lunch and dinner that highlights the brand’s signature French‑Mediterranean dishes with an optional apéritif and wine pairing. La Petite Maison’s Abu Dhabi restaurant has introduced Le Menu Signature at its outpost in The Galleria Al Maryah Island, a new curated sharing menu available for both lunch and dinner designed to showcase the dishes that have defined the French‑Mediterranean brand. La Petite Maison (LPM) said the format is intended for communal dining, with cold starters, hot starters and a choice of mains, and an optional apéritif and wine pairing available for an additional AED 200 per person. "There is a particular kind of pleasure in a restaurant that already knows what it is," the announcement reads, underscoring LPM’s positioning of the new offering as a distilled expression of the house identity. The menu in practice Le Menu Signature opens with a selection of cold starters presented at the centre of the table to set the meal’s rhythm. Dishes listed by LPM Abu Dhabi include: Burrata with Cherry Tomatoes and Basil Marinated Sweet Peppers Yellowtail Carpaccio with Avocado and Citrus Dressing Cauliflower Salad with Almond and Caraway Dressing Following the cold starters, hot dishes arrive for the table. The menu highlights Warm Prawns with Olive Oil and Lemon Juice and Escargots de Bourgogne served in garlic butter and parsley. As the restaurant notes in its description, "Neither dish is trying to surprise you. Both are trying to be exactly what they are," a line that signals the menu’s commitment to classic technique and ingredient quality over novelty. Mains and accompaniments Each diner selects a single main from a list intended to represent the breadth of LPM’s repertoire. Choices include: Salt Baked Sea Bass with Artichokes and Tomatoes Lamb Cutlets with Olive and Aubergine Caviar Duck Confit with Orange and Endive Rib Eye Steak Grilled Tiger Prawns Homemade Rigatoni with Cream and Mushrooms (for those seeking a non‑protein option) All mains are served with Gratin Dauphinois, described by the restaurant as a generously prepared potato gratin, which the venue positions as an essential component of the shared experience. Pairing option and occasion For guests seeking a fuller progression, LPM Abu Dhabi offers Le Menu Signature: Apéritif and Wine Pairing as an add‑on at AED 200 per person. The restaurant recommends the extension for a long Friday lunch or celebratory dinner, framing the pairing as complementary to the meal’s flow rather than competitive with the food. Outlook Le Menu Signature formalises the communal, passing‑plate style long associated with La Petite Maison and positions the Abu Dhabi outpost in The Galleria Al Maryah Island as a destination for diners looking for a definitive LPM experience. By insisting on a core set of signature dishes and offering an optional wine progression, the restaurant is betting that consistency and shared ritual will resonate with patrons seeking both familiarity and a sense of occasion. --- ## $10,000 AWS credits offered to Saudi startups - إنت عربي URL: https://startupsmena.com/10000-aws-credits-offered-to-saudi-startups-entarabi-mnynm4c0 Date: 2026-04-14 Category: tech Tags: **Summary:** In collaboration withAmazon Web Services (AWS) and entArabi, eligible startups in Saudi Arabia can access the AWS KSA Founders Club, including $10,000 in AWS Activate credits, along with technical sup entArabi has partnered with Amazon Web Services (AWS) to launch the AWS KSA Founders Club, a programme that offers eligible startups in Saudi Arabia up to $10,000 in AWS Activate credits, one-to-one technical support and access to a founder community aimed at reducing early-stage technical barriers. The strategic partnership, announced by entArabi, is designed to help founders build, launch and scale digital products on AWS cloud infrastructure while cutting the burden of initial server and infrastructure costs. “Server costs can be a challenge for early-stage startups. AWS KSA Founders Club goes beyond credits, offering founders 1:1 access to AWS experts and valuable networking with like-minded founders — helping them focus on building and scaling their products with confidence.” — Talal Al Hammad, Editor-in-Chief of entArabi. Context and details The AWS KSA Founders Club is open to startups based in Saudi Arabia that were founded within the past two years and that have not previously received the $10,000 AWS Activate credit package. Applications are accepted on a rolling basis. To qualify for the $10,000 AWS Activate credits through this collaboration, startups are instructed to mention they learned about the AWS KSA Founders Club through entArabi when applying. The programme bundles financial and technical resources intended to shorten time-to-market for early-stage ventures. Key elements outlined by entArabi and AWS include: $10,000 in AWS Activate credits to build and operate digital products on AWS cloud infrastructure. 1:1 access to AWS Solution Architects for bespoke technical guidance and architecture reviews. Exclusive events and networking opportunities with fellow founders to exchange operational lessons and growth tactics. Ongoing technical and strategic support aimed at helping startups scale efficiently and avoid common infrastructure pitfalls. entArabi frames the collaboration as part of its ongoing commitment to supporting the startup ecosystem by highlighting initiatives that empower founders and accelerate innovation across Saudi Arabia and the region. The programme explicitly targets the “early-stage” segment by linking credits to startups founded within a two-year window and by restricting access to those that have not already received the same $10,000 Activate package. Outlook The AWS KSA Founders Club is positioned to lower a frequent barrier cited by founders — server and cloud costs — while coupling monetary support with expert guidance. By combining the AWS Activate credits with direct access to AWS Solution Architects and founder-focused networking, entArabi and AWS aim to enable participating teams to concentrate on product development, execution and growth rather than infrastructure management. With rolling applications, the programme is likely to be an ongoing channel through which new Saudi startups can tap cloud resources and technical mentorship during their formative months. --- ## Shanghai joins Chengdu, Guangzhou, Hangzhou, and Shenzhen as Etihad Airways transforms its presence in China, igniting new opportunities with nonstop flights from Abu Dhabi URL: https://startupsmena.com/shanghai-joins-chengdu-guangzhou-hangzhou-and-shenzhen-as-etihad-airways-transforms-its-presence-in--mnydb9ea Date: 2026-04-14 Category: tech Tags: **Summary:** Shanghai joins Chengdu, Guangzhou, Hangzhou, and Shenzhen as Etihad Airways significantly transforms its presence in China by launching nonstop flights from Abu Dhabi. Etihad Airways will launch five new nonstop routes from Abu Dhabi to mainland China, beginning with Abu Dhabi–Shanghai Pudong in October and followed by services to Guangzhou, Hangzhou, Shenzhen and Chengdu in March next year, the carrier announced in a major network expansion disclosed on April 14, 2026. The move adds 28 weekly flights to Etihad’s China capacity and brings the airline’s total to 35 weekly frequencies across six Chinese cities—including its existing daily service to Beijing Daxing—operated with Boeing 787-9 Dreamliners. “Silicon Valley of the West,” the source article notes, describing Chengdu’s rise as a target for Etihad’s new services, a clear sign the carrier is prioritising fast-growing tech, manufacturing and commercial hubs in China. The rollout will see Abu Dhabi–Shanghai Pudong operate seven weekly flights from October. The other four routes commence in March, with Abu Dhabi–Guangzhou at seven weekly flights, Abu Dhabi–Hangzhou at five weekly flights, Abu Dhabi–Shenzhen at five weekly flights and Abu Dhabi–Chengdu Tianfu at four weekly flights. Together, these services increase Etihad’s weekly frequencies to mainland China by 28, supplementing the existing daily Beijing Daxing link to reach 35 weekly flights. Route and product details Aircraft: All new services will be flown by Etihad’s Boeing 787-9 Dreamliner fleet. Cabin configuration: Each 787-9 will be configured with 28 Business class seats and 262 Economy class seats. Initial schedule: Abu Dhabi–Shanghai Pudong (7 weekly) begins in October; Guangzhou (7 weekly), Hangzhou (5 weekly), Shenzhen (5 weekly) and Chengdu Tianfu (4 weekly) start in March. Etihad framed the expansion as part of a strategic push to strengthen Abu Dhabi’s role as a connecting hub between East and West and to deepen trade, tourism and investment links with China. The airline said the five cities—Shanghai, Chengdu, Guangzhou, Hangzhou and Shenzhen—are major commercial, cultural and technological hubs that will benefit from direct connectivity to the UAE capital. The development also builds on a partnership with China Eastern Airlines. The joint venture between Etihad and China Eastern will coordinate schedules and services; China Eastern already operates flights from Shanghai, Kunming and Xi’an to the UAE, and the cooperation is intended to optimise connectivity and customer experience across both carriers’ networks. Etihad’s choice of destinations reflects targeted access to China’s leading economic and tech centres: Shanghai’s financial and technology ecosystem; Hangzhou’s profile as home to Alibaba and a significant e‑commerce cluster; Shenzhen’s innovation-driven economy; and Chengdu’s growing tech profile—referred to in coverage as the “Silicon Valley of the West.” Outlook: With the new routes, Etihad expects to facilitate stronger economic and cultural exchanges between the UAE and China, supporting tourism and the movement of goods and services while reinforcing Abu Dhabi’s status as a major international aviation hub. The phased launch beginning in October and expanding through March next year positions the carrier to capture rising demand for business and leisure travel on the Abu Dhabi–China axis. --- ## Morocco secures $500m World Bank loan to boost jobs and green investment URL: https://startupsmena.com/morocco-secures-500m-world-bank-loan-to-boost-jobs-and-green-investment-business-insider-africa-mny1voqw Date: 2026-04-14 Category: other Tags: World Bank, Morocco, jobs, SMEs, renewable energy, pharmaceuticals, youth unemployment, women's labour-force participation **Summary:** The World Bank approved a $500 million reform-backed loan to Morocco to tackle youth unemployment, boost SME growth, expand women's labour-force participation, and unlock investment in renewables and pharmaceutical exports. The financing is the first of a three-part series aimed at translating macro growth into private-sector dynamism and job creation. Morocco has secured a $500 million reform-backed loan from the World Bank Group aimed at tackling entrenched unemployment, stimulating private investment and accelerating green and pharmaceutical exports. The financing, the first in a planned three-part series, targets youth jobs, women’s labour-force participation and small and medium-sized enterprise (SME) growth, and includes measures intended to unlock renewable energy investment and expand pharmaceutical exports as Rabat seeks to strengthen its position as an industrial and export hub linking Africa and Europe. "These reforms address one of the most persistent barriers to job creation in Morocco: the slow emergence of high-growth enterprises," said Ahmadou Moustapha Ndiaye, the World Bank’s division director for the Maghreb and Malta. Context and programme details The programme responds to persistent structural gaps: unemployment remains particularly high among young people, and female participation in the labour force lags global averages despite steady economic expansion in recent years and growth in manufacturing investments such as automotive and aerospace. The World Bank-backed measures are designed to translate macro growth into broader job creation and private-sector dynamism. Labour-market support: expand assistance to reach more than 330,000 job seekers by 2029 and reform education and training to better match private sector demand. Women’s participation: expand access to formal childcare with plans expected to unlock “tens of thousands” of childcare spaces, create jobs and reduce barriers keeping many women out of paid work. SME support: overhaul insolvency rules to help viable firms recover, strengthen credit guarantees and simplify investment procedures through regional centres. Energy and climate: remove regulatory hurdles to attract private investment in solar and wind projects, expand energy efficiency services and reduce the sector’s exposure to external shocks highlighted by global energy price volatility. Pharmaceuticals: support efforts to scale up exports as Morocco aims to increase its footprint in international drug manufacturing and tap rising demand across Africa and beyond. Outlook and challenges The World Bank’s $500 million commitment reflects a broader shift among global lenders to tie financing more closely to job creation, climate transition and private sector development, particularly for emerging markets facing tighter financial conditions. For Morocco, the success of the programme will hinge on how quickly proposed reforms translate into private investment and concrete employment outcomes, and on the government's ability to streamline regulations that have so far slowed down private capital inflows into renewables and high-growth enterprises. Authorities and investors will monitor implementation closely: the loan arrives as Morocco seeks to sustain its appeal as a nearshore manufacturing base to Europe while easing social pressures associated with youth unemployment. The World Bank-backed reforms and the next two planned financing tranches will be judged on their capacity to convert regulatory changes into new businesses, expanded exports and measurable job growth across the economy. --- ## Morocco’s Tamweelcom launches Startup Venture Building program to support startups in the Kingdom - إنت عربي URL: https://startupsmena.com/moroccos-tamweelcom-launches-startup-venture-building-program-to-support-startups-in-the-kingdom-ent-mny1yu1f Date: 2026-04-14 Category: tech Tags: **Summary:** The initiative also builds on previous ... as Innov Invest, aiming to address long-standing challenges faced by entrepreneurs, particularly around access to capital and achieving sustainable growth. A Tamweelcom has launched a new initiative, Startup Venture Building, on the sidelines of GITEX Africa 2026 to back Morocco’s early-stage companies. The program aims to support 800 startups over a three-year period with a total financial commitment exceeding $70 million, offering a mix of financing, technical assistance, mentorship and market access designed to take ventures "from ideation to scale." "Designed to support startups at every stage of their journey, from ideation to scale," Tamweelcom said in its announcement at GITEX Africa 2026. Program details and partners The Startup Venture Building programme will deploy a suite of flexible financing and support tools to match different growth stages. Financial instruments include prototype development grants, funding tranches of up to MAD 2 million (around $220,000) for eligible startups, and monthly financial support for founders during the launch phase to reduce early-stage cash pressure. The initiative explicitly aims to help founders focus on product development and business model refinement. Tamweelcom is rolling the programme out with a network of local and international partners, naming Technopark Maroc, CEED Maroc, Flat6Labs and 500 Global among collaborators. The partnership strategy is intended to "transfer global best practices into the Moroccan market while providing practical expertise that strengthens startup development and improves success rates," the announcement said. Target: 800 startups over three years Funding commitment: more than $70 million Individual funding: up to MAD 2 million (~$220,000) Support offerings: prototype grants, monthly founder stipends, mentorship, market access Key partners: Technopark Maroc, CEED Maroc, Flat6Labs, 500 Global Context and strategic fit The Startup Venture Building programme builds on prior efforts such as Innov Invest and is presented as a response to persistent challenges for Moroccan entrepreneurs—chiefly access to capital and the difficulty of attaining sustainable growth. By combining direct funding with hands-on technical assistance and mentorship, Tamweelcom aims to raise survival and scale-up rates among startups that can compete regionally and internationally. Announced at GITEX Africa 2026, the programme comes amid growing interest in emerging African markets and seeks to position Moroccan startups to capture regional opportunities. The initiative's mix of local partners and international accelerators—Flat6Labs and 500 Global—signals an intent to blend domestic market knowledge with venture-building methodologies tested in other startup ecosystems. Outlook Applications for the Startup Venture Building programme are expected to open in the coming weeks. If Tamweelcom can deploy the pledged more than $70 million effectively and coordinate with partners such as Technopark Maroc and CEED Maroc, the initiative could meaningfully expand funding access and operational support for Moroccan entrepreneurs. The programme’s emphasis on prototype grants, founder stipends and stage-appropriate funding aims to reduce early-stage attrition and help build a new generation of companies capable of scaling beyond Morocco’s borders. --- ## Meet the 9 VCs Tasked With Deploying Morocco’s New $270m Startup War Chest URL: https://startupsmena.com/meet-the-9-vcs-tasked-with-deploying-moroccos-new-270m-startup-war-chest-launch-base-africa-mny1sqqe Date: 2026-04-14 Category: funding Tags: venture capital, Morocco, FM6I, Morocco Digital 2030, Tamwilcom, fintech, agritech, edtech, healthtech, climatetech **Summary:** Morocco shortlisted nine VC managers to deploy 2.5 billion dirhams (~$270M) into early-stage tech companies as part of the Morocco Digital 2030 strategy, with public support from FM6I, the Ministry of Digital Transition and CDG and a loss-cover mechanism operated by Tamwilcom. Morocco has shortlisted nine venture capital managers to deploy 2.5 billion dirhams (approximately $269.6 million) into early-stage tech companies as part of the Morocco Digital 2030 strategy. The programme is led by the state-backed Mohammed VI Investment Fund (FM6I) alongside the Ministry of Digital Transition and the Caisse de Dépôt et de Gestion (CDG). The shortlisted managers were chosen from 47 applications and will be required to raise matching third‑party capital to reach target vehicle sizes. "The mandate is clear: fund the entire startup lifecycle, from pre-seed through Series A and beyond, targeting sectors such as fintech, agritech, edtech, healthtech, and climatetech," the initiative said. Selected managers 500 Startups Management Company Plug and Play Investment Group Middle East Venture Partners (MEVP) Sawari Ventures (Egypt) RING (Ring Africa, active in Abidjan targeting francophone West Africa) Outlierz Africa Emerging Tech Ventures Kalys Ventures Partners Sienna Venture Capital (in partnership with AlphaVest Capital) The shortlist mixes US and global operators, regional heavyweights and local and pan-African funds, reflecting a deliberate emphasis on operational experience outside Morocco. To unlock the state-allocated capital, each manager must demonstrate the ability to attract private co-investment. To reduce investor risk, "the state is deploying a public support mechanism operated by Tamwilcom, designed to cover initial losses in line with international venture capital standards." The move builds on FM6I's broader programme launched a year earlier, when the fund selected 14 managers to deploy $1.9 billion across Morocco’s economy — a package made up of $450 million in public money and $1.46 billion in private capital. That initial effort, FM6I has said, is already changing how capital views the North African market. Context and recent market data Morocco’s renewed push into venture capital arrives amid measurable growth in local dealmaking. The country raised $128.4 million in total venture capital in 2025, an 18% year‑on‑year increase that positioned Morocco sixth on the continent by volume. The government and FM6I frame the new allocation as an attempt to professionalise fundraising and move the market away from ad hoc angel checks and grant-based support. "The goal is to permanently structure Morocco’s venture capital industry, moving it away from a reliance on fragmented angel checks and grant funding," the announcement reads. Outlook Execution now hinges on the shortlisted managers' ability to secure external limited partners and reach their target fund sizes. If successful, the combination of public backing via Tamwilcom and private matching capital could provide a more predictable and institutionalised funding pathway for Moroccan startups across fintech, agritech, edtech, healthtech and climatetech. Observers will watch fundraising progress closely: the state’s guarantee mechanism reduces early losses, but long-term industry development will depend on performance, follow-on capital and deal flow generated within the ecosystem. --- ## Saudi Arabia weather alert: Heavy rain, flooding hit Riyadh, Al Ahsa URL: https://startupsmena.com/saudi-arabia-weather-alert-heavy-rain-flooding-hit-riyadh-al-ahsa-khaleej-times-mnxxlrjv Date: 2026-04-14 Category: other Tags: weather, Saudi Arabia, flooding, education, Madrasati **Summary:** Heavy rains and thunderstorms hit parts of Saudi Arabia, causing flooding in Riyadh and Al Ahsa and prompting authorities to shift to remote learning via the Madrasati platform while emergency teams remain on alert. Heavy rains and thunderstorms have swept through parts of Saudi Arabia on Monday, flooding roads around Riyadh and in the Al Ahsa governorate and prompting authorities to move to remote schooling in some areas. The National Centre for Meteorology warned that showers could intensify across several regions as the day progresses, while emergency teams remain on full alert and residents are urged to exercise caution. "Due to ongoing weather conditions, authorities have already shifted to remote learning in several regions using the Madrasati platform," the Khaleej Times report said. Conditions, risks and official advice From early morning, parts of the Kingdom experienced everything from light drizzle to heavy downpours. Authorities reported strong downdraft winds reaching up to 60 km/h, conditions that can lift dust, reduce visibility and complicate driving. There is also a risk of hail, rough seas along coastal areas and flash floods where rainfall becomes heavier. "The Saudi Civil Defence has advised people to avoid valleys, flood-prone zones, and areas where water tends to collect," the report noted, as emergency personnel monitor vulnerable locations. Regions affected Riyadh and central governorates: Moderate to heavy rain is expected to continue across the capital and nearby areas, with water already accumulating in low-lying roads. Officials warned the conditions could peak between Monday and Tuesday. Eastern Province: Ongoing storm activity has been reported in Dammam, Al Khobar, Jubail and Qatif. Al-Ahsa and Abqaiq are also facing moderate to heavy rainfall. Makkah Region and western coast: Rainfall is increasing in the Makkah Region with Taif and surrounding areas likely to see heavier showers. Coastal towns including Al-Lith and Al-Qunfudhah are experiencing lighter but steady rain. Southern regions: Widespread, at times heavy, rain continues in Asir, Jazan and Al-Baha. Cities such as Abha and Khamis Mushait have seen consistent showers and intensifying conditions compared with previous days. Authorities have already taken a precautionary step by switching to remote learning via the Madrasati platform in the most affected areas, a measure intended to reduce travel during peak storm conditions. Emergency services are deployed across regions to respond to flooding and related incidents. Outlook Meteorologists forecast that active conditions may persist into Tuesday, with some regions potentially experiencing stronger storms. Residents are being asked to remain alert to local warnings and avoid risky areas, particularly valleys and zones prone to rapid water accumulation. The Khaleej Times urged readers to "Stay up to date with the latest news. Follow KT on WhatsApp channels," as authorities continue to monitor the evolving situation. --- ## Saudi Arabia Medical Imaging Market: Digital Imaging Growth, Precision Diagnosis & Hospital Expansion URL: https://startupsmena.com/saudi-arabia-medical-imaging-market-digital-imaging-growth-precision-diagnosis-hospital-expansion-fu-mnxxidsp Date: 2026-04-14 Category: tech Tags: **Summary:** Government funding for equipment modernization and the aspirations of Vision 2030 around healthcare quality are providing the financial and policy framework for these investments to accelerate. Recent Saudi Arabia’s medical imaging market is expanding rapidly as chronic disease prevalence, hospital capacity growth and digital transformation converge. IMARC Group valued the market at USD 443.7 million in 2025 and projects growth to USD 736.7 million by 2034, a compound annual growth rate of 5.80% from 2026–2034. Clinical demand from cardiovascular disease, diabetes and cancer—together with Vision 2030’s health priorities—has driven high equipment investment: cardiovascular disease affects 1.6% of Saudis aged 15 and above, rising to 11% among those aged 65 and over, with the Makkah region recording a 1.9% regional rate. Hospital expansion examples include an October 2024 collaboration between Hayat National Hospitals and GE Healthcare to deploy advanced diagnostic imaging across three new hospitals in Muhayl Aseer, Baysh and Buraida as Hayat moves to scale bed capacity to 3,000. "Artificial intelligence is quickly moving from an experimental technology to an operational standard across Saudi Arabia's medical imaging landscape," Kishan Kumar writes in the report summary, reflecting a string of partnerships and product launches that are operationalizing AI in radiology workflows. Industry activity confirms that transition. In November 2024 Recursive Inc. and the King Abdullah International Medical Research Center (KAIMRC) signed a memorandum of understanding at the Riyadh Global Medical Biotechnology Summit to develop an AI-based early screening system for tuberculosis, aligning with Vision 2030’s digital health agenda. Tele-radiology and AI-enabled interpretation are expanding access beyond major urban centres: PaxeraHealth and Saudi German Health extended their partnership in December 2024 to launch an AI-powered tele-radiology project covering 22 facilities across the MENA region, integrating real-time decision support to accelerate diagnostic turnaround. Hospitals are also adopting higher-end modalities. The market is moving toward 3T MRI, PET-CT and hybrid imaging systems that provide combined anatomical and functional information for oncology, cardiology and neurology. Recent deployments and platform launches underline this shift: in April 2026 Johns Hopkins Aramco Healthcare rolled out the Agfa Enterprise Imaging platform to unify radiology and dental scans; King Faisal Specialist Hospital reported advancing more than 20 AI tools in March 2026 to improve diagnostic accuracy; and RapidAI partnered with Health Holdings Company in January 2026 to deploy deep clinical AI across 20 hospital clusters for stroke and aneurysm detection. Recent developments April 2026 – Johns Hopkins Aramco Healthcare launches Agfa Enterprise Imaging platform, unifying radiology and dental scans. March 2026 – King Faisal Specialist Hospital advances over 20 AI tools to enhance diagnostic accuracy. February 2026 – PaxeraHealth extends AI teleradiology with Saudi German Health to 22 sites, delivering real-time imaging analysis. January 2026 – RapidAI partners with Health Holdings Company to deploy deep clinical AI across 20 hospital clusters. December 2025 – Saudi hospitals integrate advanced AI algorithms in radiology, reducing image interpretation times by 40% and improving oncology and cardiology precision. Outlook for the sector is driven by sustained clinical demand and policy support tied to Vision 2030, including ambitions to grow medical tourism as part of a broader target of 150 million tourists by 2030 and a healthcare cooperation MoU with Thailand. With public-private partnerships, targeted hospital expansion and continued AI integration in imaging workflows, the market looks set to absorb investments in hybrid modalities, tele-radiology platforms and AI screening solutions as it moves toward the IMARC Group projection of USD 736.7 million by 2034. --- ## Etihad Airways Launches 13 New Routes in 2026: Abu Dhabi Expands Global Hub to China, US, Europe URL: https://startupsmena.com/etihad-airways-launches-13-new-routes-in-2026-abu-dhabi-expands-global-hub-to-china-us-europe-nomad--mnxne5ll Date: 2026-04-13 Category: tech Tags: **Summary:** Etihad Airways announces major 2026 expansion with direct flights to Beijing, Shanghai, Cairo, Madrid, Athens, and US cities, positioning Abu Dhabi as a global aviation crossroads. Etihad Airways will add 13 new direct routes in 2026, linking Abu Dhabi with five Chinese cities, three US gateways, multiple European destinations and an upgraded daily service to Istanbul as the carrier expands its role as a global transit hub. The new network—scheduled to begin service in 2026—includes Beijing (Daxing), Shanghai, Chengdu, Hangzhou and Shenzhen in China; New York JFK, Chicago and Washington D.C. in the United States; and Cairo, Copenhagen, Athens, Nice and Madrid in Europe, according to reporting by Nomad Lawyer. "International air travel is projected to exceed pre-pandemic levels by 2026," said IATA.org in a projection cited in the Nomad Lawyer piece, a backdrop Etihad is clearly using to time its route relaunch and expansion. What Etihad is launching and why it matters The carrier’s China push adds five destinations to its network and brings Abu Dhabi into direct contact with Beijing Daxing International Airport, a connection Nomad Lawyer describes as "critical for business travelers and tourists." The additions reflect Etihad’s bet on China’s outbound tourism recovery and rising demand from business traffic. China: Beijing (Daxing), Shanghai, Chengdu, Hangzhou, Shenzhen (2026) United States: New York JFK, Chicago, Washington D.C. (2026) Europe & Middle East: Cairo, Copenhagen, Athens, Nice, Madrid (2026) Turkey: Istanbul — upgraded to daily direct service (2026) Nomad Lawyer highlights immediate passenger benefits: direct flights to Beijing Daxing, Madrid and Athens can shave 4–8 hours off itineraries compared with connecting routings, while the three new US gateways create seamless links for American travelers to Abu Dhabi and onward connections into Asia and Africa. Context and strategic implications The expansion is framed as part of a broader post-pandemic recovery in long‑haul travel, with Etihad leveraging the UAE’s geographic advantage and Abu Dhabi's growing reputation as a neutral, efficient transit hub. The Nomad Lawyer article notes the move “signals confidence in long‑haul demand recovery” as leisure and business segments accelerate capacity decisions across global carriers. Daily Istanbul service strengthens ties across Europe and the Middle East, and the Mediterranean routes to Athens, Nice and Madrid are positioned to capture rising demand for cultural and beach destinations among Middle Eastern travelers. The outlet also advises would‑be passengers to verify schedules directly with Etihad Airways or official booking channels, as inaugural dates and frequency may still shift. Outlook For passengers and travel planners, the 13 new routes make Abu Dhabi a more competitive alternative to traditional hubs in Europe and Asia, particularly for east–west connections. Nomad Lawyer recommends booking early for peak summer and holiday periods on the China–UAE and US–UAE corridors, and suggests considering Abu Dhabi as a positioning hub for onward travel. The full rollout timetable and exact launch dates are to be confirmed via Etihad’s investor relations and official channels. Reporting: Kunal K Choudhary, Nomad Lawyer --- ## Sobha Realty Launches 38 Million Sq Ft Waterfront Sobha City in Abu Dhabi’s Al Bahiya URL: https://startupsmena.com/sobha-realty-launches-38-million-sq-ft-waterfront-sobha-city-in-abu-dhabis-al-bahiya-mnxl9pzc Date: 2026-04-13 Category: tech Tags: **Summary:** Abu Dhabi: Sobha Realty has entered the UAE capital with the launch of Sobha City, a 38 million square foot residential development in Al Bahiya. Abu Dhabi: Sobha Realty has entered the UAE capital with the launch of Sobha City, a 38 million square foot residential development in Al Bahiya, the developer announced. The project is Sobha’s first large-scale community in Abu Dhabi, expanding its footprint beyond Dubai and Umm Al Quwain, and is planned as a low-density mixed-use neighbourhood located along the E10 and E12 corridor, close to Zayed International Airport and Yas Island. The masterplan will be delivered in phases, with the first phase covering around 8 million square feet. “Abu Dhabi holds a unique position as a city that balances cultural authenticity with forward-looking ambition, and our entry reflects a long-term belief in its evolution not just as a solid real estate market, but as a place where communities can grow with family-oriented intention,” said Ravi Menon, Chairman of Sobha Group. “Sobha City has been envisioned as a living environment that feels calm, enduring, and deeply connected to its surroundings, while being future-ready.” Project details Sobha City is being developed as a waterfront community with a mix of residential, retail and leisure components. Key elements disclosed by the developer include: A two-kilometre waterfront promenade and marina. Approximately 60% of the masterplan allocated to green and landscaped zones. More than 50,000 trees across the community and shaded walkways. An 18-kilometre loop designed for walking and cycling to promote active mobility within the development. A range of housing options including apartments, villas and larger homes. On-site community infrastructure including schools, healthcare facilities, mosques and retail spaces. Sobha Realty said the development will follow the group’s in-house construction model encompassing design, engineering and build, a vertically integrated approach the firm says ensures quality control and long-term resilience. Francis Alfred, Managing Director of Sobha Realty, framed the project as a response to current market dynamics: “As we expand our footprint into Abu Dhabi, Sobha City will be embodiment of our vertically integrated approach to development ensuring not only exceptional quality but also long-term resilience and value,” he said. “This position us strongly within a market driven by sustained population growth, investor-friendly policies, and projected increased demand for integrated, lifestyle-oriented developments.” Context and outlook The launch adds to Sobha Realty’s existing UAE portfolio and comes as Abu Dhabi continues to broaden its residential offering with integrated communities that combine housing, services and green space. The developer’s phased approach—starting with an 8 million square foot initial phase within the overall 38 million square foot site—signals a long-term build-out strategy. Sobha’s emphasis on waterfront amenities, extensive landscaping and internal mobility infrastructure positions the project to appeal to families and investors seeking lifestyle-oriented neighbourhoods inside the emirate. Execution timelines and sales details for the phases were not disclosed at launch. Sobha City’s proximity to Zayed International Airport and Yas Island, together with its scale and planned amenities, mark a notable expansion for Sobha Group into Abu Dhabi’s residential market. --- ## Dubai Healthcare City Authority relief explained: What businesses should do now URL: https://startupsmena.com/dubai-healthcare-city-authority-relief-explained-what-businesses-should-do-now-mnxjgf5g Date: 2026-04-13 Category: healthtech Tags: Dubai Healthcare City, DHCA, relief, licence renewals, free zone **Summary:** Dubai Healthcare City Authority announced targeted financial relief — waivers, structured instalment plans and flexible leasing arrangements — to help businesses in Dubai Healthcare City manage cash flow and remain compliant between April and September 2026. Dubai Healthcare City Authority (DHCA) has announced a package of targeted financial measures to ease operating costs for businesses in Dubai Healthcare City (DHCC), offering fee waivers, instalment options and flexible leasing arrangements designed to help partners stabilise cash flow and remain compliant. The measures — published in a TravelsDubai report on 13 April 2026 — include waivers of reinstatement fees and late renewal penalties for commercial licences renewed between 1 April and 30 June 2026, and extended payment schedules for licence renewal fees through 30 September 2026. "Dubai Healthcare City Authority introduces flexible financial measures to support business partners and drive sustainable growth," reads a caption shared on the DHCC Instagram account, reflecting the authority’s public framing of the relief package. The relief is aimed squarely at entities operating inside the healthcare free zone. DHCA is offering structured instalment plans for licence renewal fees that allow businesses to pay in staged instalments, including via post-dated cheques, with the final deadlines extended to 30 September 2026. For leasing commitments, partners facing financial constraints can apply to postpone or restructure due cheques into manageable instalments. Crucially, deferment charges and cheque return fees have been waived under the initiative, removing extra costs that typically accrue when payments are delayed. What the package includes Waiver of reinstatement fees and late renewal penalties for commercial licences renewed between 1 April and 30 June 2026. Structured instalment plans for licence renewal fees, including acceptance of post-dated cheques, with payment schedules extended until 30 September 2026. Flexible leasing arrangements: postponement or restructuring of due cheques into instalments for tenants within the free zone. Waiver of deferment charges and cheque return fees applied to restructured leasing payments. DHCA has instructed eligible business partners to review the defined criteria and timelines and submit applications within the specified periods to benefit from the relief. The authority frames the measures as part of a broader effort to "sustain growth, support investment and maintain Dubai’s standing as a hub for specialised healthcare services," signalling a strategic intent to preserve sector stability while enabling expansion opportunities for qualifying companies. For businesses operating in DHCC, the package offers immediate compliance relief and short-term cash-flow management tools. By waiving penalties and enabling staged payments, DHCA reduces the financial cliff that can accompany licence renewals and rent cycles. Companies that were overdue or expecting large renewal outlays now have a window — from 1 April to 30 June to regularise licences without reinstatement penalties, and until 30 September to complete instalment plans. Next steps for affected firms are straightforward: review eligibility criteria published by DHCA, prepare documentation for licence and leasing requests, and submit applications within the stipulated windows. The authority’s measures are time-bound and procedural, so timely action will determine which partners can access fee relief and payment flexibility as the free zone navigates evolving economic conditions. --- ## Abu Dhabi Startup Synthan Sciences Unveils Safety Architecture for Physical AI URL: https://startupsmena.com/abu-dhabi-startup-synthan-sciences-unveils-safety-architecture-for-physical-ai-mnx7ryzv Date: 2026-04-13 Category: tech Tags: physical AI, robotics, safety, autonomous vehicles, identity, ADGM, seed funding, infrastructure **Summary:** Abu Dhabi-based Synthan Sciences unveiled a proprietary three-layer safety architecture to govern 'physical AI' — autonomous vehicles, humanoid robots and other real-world intelligent machines — and is preparing a seed funding round under the ADGM framework. Abu Dhabi-based startup Synthan Sciences has unveiled a proprietary three-layer safety architecture aimed at governing "physical AI" — autonomous vehicles, humanoid robots and other intelligent machines that operate in the real world. Founded by technologist and author George Bancs, the company says its approach fills a "critical gap" in current AI infrastructure by embedding safety at the hardware level, adding communication and behavioral protocols, and providing an identity and certification framework. Synthan Sciences operates under the Abu Dhabi Global Market (ADGM) regulatory framework and is preparing for a seed funding round as it seeks to set foundational standards for the sector. The company points to projections that the global autonomous systems market could exceed $2 trillion by 2030 to underline the economic stakes. "We're building the seatbelt for the age of physical AI. Safety can't be an afterthought," George Bancs, Founder and CEO of Synthan Sciences, said in a statement distributed via EIN Presswire by BANCS BRANDS LIMITED on April 13, 2026. Context and technical outline Synthan Sciences describes its safety stack as a "trust infrastructure" composed of three integrated layers designed specifically for machines that move and act alongside people. The company frames the work at the intersection of AI safety, robotics and regulatory technology, arguing that an infrastructure-first approach is necessary as decision-making shifts from screens into physical environments. Hardware-level safety component: A safety element embedded directly into autonomous systems intended to provide fail-safes and baseline protections at the device level. Communication and behavioral protocol layer: Standards for how machines communicate intent and coordinate behavior with humans and other systems to reduce ambiguity and unsafe interactions. Identity and certification framework: Authentication, provenance and certification mechanisms designed to attribute responsibility and enable auditing of physical AI actors. "We're entering an era where AI isn't just making decisions on a screen — it's making decisions in the real world, with real consequences," Bancs added, emphasizing that the firm's mission is "to build the safety layer that makes that transition trustworthy." The company positions the safety stack as analogous to cybersecurity for the internet: an infrastructural foundation that other developers, manufacturers and regulators can adopt. Outlook and next steps Synthan Sciences is preparing to raise seed capital to advance its technology and to promote adoption of its proposed standards. The startup also ties its theoretical underpinnings to a three-volume book series by Bancs, The Syncyclopedia of Synthanity, which the company says is available on Amazon and through major booksellers. Synthan positions its approach as industry-shaping, seeking to influence how safety, identity and accountability are embedded into the next generation of autonomous systems as markets expand toward the multi-trillion-dollar forecasts cited by the company. --- ## Top Business Ideas in Dubai for Beginners: 2026 Guide URL: https://startupsmena.com/top-business-ideas-in-dubai-for-beginners-2026-guide-mnx55ry0 Date: 2026-04-13 Category: tech Tags: **Summary:** The demand for tutoring, professional ... in Dubai is robust and growing. Platforms like Teachable, Thinkific, and even Instagram Live have made it realistic for coaches to reach UAE and global audien Dubai has become a highly accessible launchpad for first-time founders and professionals pivoting into entrepreneurship, offering zero income tax, streamlined company registration and a digitally forward economy, according to a guide published by Ripple Fast Business Setup on April 11, 2026. Practical barriers are manageable: free zone licenses typically start from AED 10,000–15,000 per year, mainland setups with the DED range from AED 15,000–30,000, and virtual office packages can cost as little as AED 3,000–5,000 annually. Market signals cited in the guide underline opportunity areas — e-commerce is growing at over 15% annually, the UAE food delivery market was valued at over $1.5 billion in 2024, and Dubai welcomed more than 17 million international visitors in 2023. "The demand for tutoring, professional skill training, and language courses in Dubai is robust and growing," the Ripple Fast Business Setup guide states, highlighting how platforms such as Teachable, Thinkific and Instagram Live enable coaches to reach UAE and global audiences simultaneously. That demand for low-capital, service-led businesses is reflected in the guide's top recommendations for beginners. It outlines three primary license types — commercial (trading), professional (services such as consulting or design) and industrial (manufacturing) — and three jurisdictional choices: Mainland, Free Zone and Offshore. Mainland companies can trade directly in the local market; free zone companies offer full foreign ownership and faster setup but require a distributor to sell locally; offshore structures are framed as best for holding or international operations. Entrepreneurs should also budget time for banking: plan for two to four weeks to open a UAE business bank account, the guide notes. Top business ideas and practical entry points E‑Commerce: With online shopping growing at more than 15% annually, platforms like Shopify, Amazon.ae and Noon make low-overhead stores and dropshipping viable entry points. Digital Marketing Agency: Small agencies in Business Bay now serve Dubai's real estate firms with Instagram campaigns and Google Ads, with retainers starting at AED 5,000/month. Freelance Services: Since the UAE introduced a dedicated freelance visa in 2021, freelancers can legally invoice clients, open bank accounts and even sponsor dependents under permits from authorities such as TECOM or Sharjah Media City. Real Estate Brokerage: The market continues to outperform global benchmarks; brokerage commissions are typically around 2% of transaction value and RERA certification is required. Cleaning Services: Low equipment needs, a DED license and a small team can get operations running quickly for residential and commercial clients. Food & Beverage Cloud Kitchen: The delivery market (valued at over $1.5 billion in 2024) favors cloud kitchens that run multiple brands and sell via Talabat, Deliveroo or Noon Food. IT & Software Services: App development, cybersecurity consulting and SaaS are high‑value opportunities as Dubai positions itself as a regional tech hub under initiatives from bodies such as the Dubai Future Foundation. Tourism & Travel Agency: With 17+ million international visitors in 2023 and rising tourist volumes in 2025, visa assistance, corporate travel and bespoke luxury experiences remain in demand. Consultancy Services: Business setup, HR, finance and compliance consulting are sought after by SMEs; free zones like DMCC, IFZA and Dubai South are popular for solo consultants. Education & Online Coaching: The guide stresses that platforms including Teachable and Thinkific — plus social channels such as Instagram Live — let former teachers and subject-matter experts scale to UAE and global students. For beginners without access to significant capital, Ripple Fast Business Setup highlights low-investment options such as freelance permits, dropshipping and social media management as concrete ways to start earning with minimal overhead. The guide frames Dubai's combination of accessible licensing, clear entry pathways and sizable demand in sectors from education to food delivery as a practical environment for new entrepreneurs in 2026. --- ## The software running Dubai Police and Belgian Federal drones just raised €4.4M from Keen Venture Partners — TFN URL: https://startupsmena.com/the-software-running-dubai-police-and-belgian-federal-drones-just-raised-44m-from-keen-venture-partn-mnx3ea6g Date: 2026-04-13 Category: tech Tags: **Summary:** Dutch drone software startup AirHub raised €4.4M from Keen Venture Partners and Runway FBU to build a European alternative for secure drone operations. Dutch drone software company AirHub has raised €4.4 million in a Series A round led by Keen Venture Partners, joined by Runway FBU — backed by Norway’s Aker Group — alongside existing investors Lumaux and LUMO Labs. Founded in 2016 and based in Valkenburg, AirHub builds a European-made platform for secure drone operations and already supports live operations for nine enterprise and government customers, including Dubai Police and the Belgian Federal Police. “As Europe increases its focus on resilience, security and technological autonomy, AirHub is well-positioned to become an important software player in this space. The company has already proven its value in demanding operational environments, and we are excited to support the team in its next stage of growth,” said Giuseppe Lacerenza, Partner at Keen Venture Partners. Platform and customers AirHub’s core product, the Drone Operations Centre, covers the full operational lifecycle of drone missions: pre-flight planning and airspace approvals, weather checks and risk assessments, live flight oversight with video and command tools, and post-flight automated compliance reports, flight logs and incident records. The platform integrates with a wide range of hardware — including DJI controllers and iOS and Android devices — and can be deployed either on the company’s managed European cloud or self-hosted on a customer’s own systems, enabling data sovereignty for sensitive operations. Founders: co-CEOs Thomas Brinkman and Stephan van Vuren Series A: €4.4 million Lead investor: Keen Venture Partners; participants: Runway FBU, Lumaux, LUMO Labs Headquarters: Valkenburg, Netherlands; founded in 2016 AirHub lists nine enterprise and government live clients. Examples cited by the company include Dubai Police, Belgian Federal Police, Portuguese Bombeiros, Dutch Customs, ProRail, Securitas, Shell, Boskalis and Prosegur. Use cases range from Dutch Customs’ border surveillance and ProRail’s infrastructure inspections to the Austrian Power Grid’s security monitoring and offshore operations for Shell and Boskalis. Product roadmap and market positioning The fresh capital will back two new product lines: MilHub, tailored for defence operations, and SecHub, aimed at broader security requirements and introducing counter-drone capabilities. AirHub positions these lines to meet the compliance and sovereignty needs of European government and defence buyers — a niche the company says is underserved by competitors such as Flytbase and DroneSense, neither of which it claims is based in Europe or built on European cloud services. AirHub’s pitch is grounded in shifting procurement requirements: as European governments and critical infrastructure operators increasingly write data sovereignty and resilience into tenders, the company argues there is demand for a locally hosted, compliant alternative to US- and China-hosted drone software stacks. Outlook The Series A comes as EU defence spending reached around €343 billion in 2024, roughly 1.9% of GDP, a figure AirHub and its backers expect will continue to grow and translate into procurement opportunities. With operational deployments already in demanding environments and a productised platform that spans pre-flight to post-flight requirements, AirHub aims to convert policy-driven buying decisions into contracts for its MilHub and SecHub offerings as states and operators prioritise technological autonomy and data control. --- ## Etihad Airways unveils major China expansion with five new routes and added capacity URL: https://startupsmena.com/etihad-airways-unveils-major-china-expansion-with-five-new-routes-and-added-capacity-mnx1tykk Date: 2026-04-13 Category: tech Tags: **Summary:** The increase in flights is expected ... East, Africa, Europe and North America. Abu Dhabi’s role as a global transit hub is also set to be further strengthened through this expansion. UAE-Bangladesh t Abu Dhabi-based Etihad Airways announced on 13 April 2026 a major expansion of its mainland China network, adding five new routes and 28 weekly flights in one of its largest single-market increases in recent years. The carrier will operate services from Abu Dhabi Zayed International Airport to Shanghai Pudong, Guangzhou, Chengdu, Hangzhou and Shenzhen, bringing Etihad’s total mainland China operations to 35 weekly flights across six destinations, including its existing daily service to Beijing Daxing. "The expansion reflects the strength and future potential of UAE–China relations," said Mohamed Ali Al Shorafa, Chairman of Etihad Airways, highlighting the move's broader diplomatic and economic significance. "It connects key tourism and trade hubs, contributing to long-term economic value for both countries." Details of the schedule and product All new services will be flown using Etihad’s Boeing 787-9 Dreamliner fleet configured with 28 Business and 262 Economy seats, ensuring a consistent widebody product across the additional frequencies. The carrier published the initial launch schedule and weekly frequencies as follows: AUH – PVG Shanghai Pudong: 7 weekly flights, launching 1 October 2026 AUH – CAN Guangzhou: 7 weekly flights, launching 4 March 2027 AUH – HGH Hangzhou: 5 weekly flights, launching 4 March 2027 AUH – SZX Shenzhen: 5 weekly flights, launching 7 March 2027 AUH – TFU Chengdu: 4 weekly flights, launching 5 March 2027 Etihad’s Chief Executive Officer, Antonoaldo Neves, framed China as a central component of the airline’s expansion strategy: "China is a strategically important market and a cornerstone of the airline’s growth plans," he said, underlining Etihad's long-term commitment to the market. Strategic links and economic impact The route roll-out is closely aligned with Etihad’s joint venture with China Eastern Airlines, intended to coordinate operations and improve connectivity between UAE and multiple Chinese gateways. China Eastern already operates routes between Shanghai, Kunming and Xi’an and services to Abu Dhabi, complementing Etihad’s expanding footprint. Etihad also highlighted the benefit to its cargo operations through its cargo joint venture with SF Airlines. Increased passenger frequencies are expected to translate to greater air freight capacity, supporting movement of goods from China’s manufacturing and export hubs—an outcome Etihad identified as important for "high-value and time-sensitive cargo" and global supply chains. The airline pointed to the distinct economic roles of the new destinations: Shanghai as a global financial hub and cargo gateway; Guangzhou as a manufacturing and trade centre; Chengdu as a growing technology and innovation node; Hangzhou for its digital economy and e-commerce leadership; and Shenzhen as a technology and export powerhouse. Outlook With the additions, Abu Dhabi’s position as a global transit hub is set to be reinforced as Etihad funnels more passengers and freight through Zayed International. The carrier’s phased launch dates — beginning with Shanghai on 1 October 2026 and further rollouts in March 2027 — suggest a deliberate build-up of capacity aimed at capturing rising demand between China and the Middle East, Africa, Europe and North America. --- ## Ministry of Energy and Infrastructure launches innovative microgrid project for federal government buildings URL: https://startupsmena.com/ministry-of-energy-and-infrastructure-launches-innovative-microgrid-project-for-federal-government-b-mnwq9cl2 Date: 2026-04-13 Category: tech Tags: **Summary:** ABU DHABI: The Ministry of Energy and Infrastructure (MoEI) has announced the launch of an innovative strategic project to implement microgrid systems, marking a significant step forward in reinforcin The UAE’s Ministry of Energy and Infrastructure (MoEI) has launched a strategic microgrid project to deploy smart, decentralised power systems across federal government buildings, the ministry announced. First piloted in 2025 at the MoEI headquarters in Sharjah, the initiative combines clean generation, energy storage and advanced digital energy management to strengthen energy security, cut emissions and ensure uninterrupted services during outages. The project supports the ‘We the UAE 2031’ vision and is described by the ministry as the first-of-its-kind across the UAE. Direct quote Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, framed the project as a transformational shift: “This project reflects a transformative shift in building-level energy management — from a conventional model dependent on the central grid to a smart, decentralised model with independent operational capability. It enhances the reliability of electricity supply and the continuity of vital services, while also improving resource efficiency and reducing costs and emissions.” Context and details The pilot, implemented at MoEI’s Sharjah headquarters in 2025, reported concrete operational, environmental and financial outcomes. Eng Al Olama said: “During its pilot phase, the project delivered tangible operational, environmental, and economic results, including a reduction in annual energy consumption of approximately 362,000 kilowatt-hours, annual financial savings of nearly Dh110,000, and a reduction of 76 tons of carbon emissions per year.” The microgrid raised the share of solar energy to 30% of the building’s total electrical load and reached “100% operational resilience in the event of sudden power outages, ensuring uninterrupted services,” according to the ministry. The project adopts an integrated operational model that pairs renewable generation with energy storage and advanced digital energy management tools, creating an independent, building-level capability separate from the central grid. The announcement situates the microgrid work within the UAE’s broader clean-energy landscape, which includes large-scale projects such as the Mohammad bin Rashid Al Maktoum Solar Park — a planned 5,000 megawatts (5GW) of capacity and a total investment of Dh50 billion — as part of national efforts to reduce carbon intensity and modernise infrastructure. MoEI describes the initiative as a national model for ensuring continuity of vital services under emergencies and crises, and as a measure to improve resource efficiency while lowering operational costs and emissions. Outlook MoEI said it is working with government and private-sector partners to scale the microgrid model nationwide. The next phase will focus on expanding deployments across federal buildings and preparing a national technical and regulatory guide to provide governance frameworks and technical standards for microgrid deployment. Eng Al Olama said the project “represents a qualitative leap in the way building energy systems are planned and operated,” and positioned the initiative as part of a comprehensive national vision to reshape the UAE’s energy landscape through renewable energy and advanced digital technologies. --- ## Nio's Gulf Venture Stalls With Key Founding Promises Still Undelivered URL: https://startupsmena.com/nios-gulf-venture-stalls-with-key-founding-promises-still-undelivered-ev-mnw942ln Date: 2026-04-12 Category: tech Tags: **Summary:** Neither Onvo nor Firefly has launched in the UAE or broader MENA region. Only core Nio-brand models are available. Nio‘s official press release for the Nio House Abu Dhabi opening stated the first swa Eighteen months after Nio Inc. and Abu Dhabi-based CYVN Holdings announced their joint venture in October 2024, many of the founding promises for “Nio MENA” remain undelivered. The ceremony in Cairo — held in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel Fattah el‑Sisi — pledged to bring Nio’s full product ecosystem, battery swap infrastructure, an R&D centre and a bespoke local model to the Middle East and North Africa. To date, the venture has opened three retail locations, introduced three second‑generation Nio models to the UAE, and deployed a single battery swap station; neither the Onvo nor Firefly sub‑brands have launched in the region. “We have undergone fairly deep organisational adjustments,” co‑founder Qin Lihong said after admitting sales were “not very satisfactory.” Context and unfulfilled commitments The joint venture announced in October 2024 followed two CYVN investments totalling $3.3 billion in 2023, leaving CYVN with approximately 20.1% of Nio and making it the company’s largest shareholder. Nio’s founding statement said the partnership would “introduce NIO’s vehicle models, as well as those from its subsidiary brands to the MENA market,” and position the UAE as “a key player in the deployment of advanced autonomous driving systems and battery‑swapping technologies.” So far, only core Nio models — the EL8 (ES8 outside China), EC6 and ET5 — are on sale in the UAE, all built on Nio’s NT 2.0 platform. Newer and higher‑profile products launched in China are missing from the Gulf market: the third‑generation ES8 (launched in China in September 2025) and the flagship ET9 remain unavailable. Battery swapping: Nio’s press release for Nio House Abu Dhabi said the first swap station would be operational “at the end of 2024.” The Yas Marina Circuit station opened on February 27, 2025; it is a third‑generation unit that holds 21 batteries and can perform up to 408 swaps per day. Swap pricing and use: A swap costs AED 119 ($32) for a 100 kWh battery and AED 99 ($27) for a 75 kWh pack. As of July 2025, 15% of Nio’s UAE customers had used the station; absolute usage numbers have not been disclosed. Further swap rollout: Nio said a second station in Dubai would open “in the coming weeks” in a May 2025 press release; that station has not opened. Qin described a “Y‑shaped layout” along the Abu Dhabi–Dubai highway but said Nio would not fund the infrastructure itself: “We are very determined: first, we must do swapping; second, we must not use our own funds to do it — we still want to use third‑party capital.” R&D and local model: Abu Dhabi is listed among Nio’s global R&D locations in post‑founding releases, but no staffing, opening dates or outputs have been disclosed. A jointly developed local model announced in October 2024 has produced no prototypes or timelines. Regional rollout: Nio appointed Green Car as national distributor in Azerbaijan in November 2024 with deliveries promised for Q2 2025; no confirmed deliveries have been announced. No formal launches have occurred in Saudi Arabia, Egypt or other Gulf markets. Outlook Looking ahead, Nio plans to launch three new large SUVs this year — the Nio ES9, the Onvo L80 and a third model due in Q3 — but the regional availability of those cars is unclear. Nio’s limited commercial footprint in nearby markets underscores the gap between public commitments and execution: in Israel, where registration data are published, Nio ranked 61st out of 63 brands in Q1 2026 with just two registrations, a 96.8% year‑on‑year decline, according to data compiled by Best Selling Cars Blog. With core promises — Onvo and Firefly launches, a functioning swap network across the UAE, an operational R&D centre and a bespoke regional model — still outstanding, Nio MENA’s next steps will be closely watched by investors and regional partners alike. --- ## Dubai property transactions jump 31% to Dh252 billion in Q1 URL: https://startupsmena.com/dubai-property-transactions-jump-31-to-dh252-billion-in-q1-khaleej-times-mnvtv5gr Date: 2026-04-12 Category: other Tags: real estate, property, investment, Dubai, foreign investment, luxury **Summary:** Dubai's real estate market saw total transaction value rise 31% year‑on‑year to Dh252 billion in Q1 2026, with foreign investment at Dh148.35 billion and growth across investor numbers, luxury transactions, and female participation. Dubai's real estate market recorded a sharp rise in activity in the first quarter of 2026, with total property transaction value reaching Dh252 billion — a 31 per cent year‑on‑year increase — according to data issued by the Dubai Land Department. The surge came alongside 718,160 recorded real estate procedures and 60,303 real estate transactions, a 6 per cent increase compared with Q1 2025, underscoring sustained investor demand and broad market participation. "Dubai’s real estate sector delivered a strong performance in the first quarter of 2026, with total transactions reaching Dh252 billion, a 31 per cent year‑on‑year increase in value, reflecting sustained momentum and investor confidence," Khaleej Times Staff reported, citing Dubai Land Department figures. Key figures and market breakdown Total real estate procedures in Q1 2026: 718,160. Total real estate transactions: 60,303, up 6% from Q1 2025. Total transaction value: Dh252 billion, up 31% year‑on‑year. Number of investments: 57,744, a 7% increase; total investment value: Dh173 billion, a 22% rise. Investments by women: 15,540 transactions valued at Dh32 billion. Investor base: 48,448, an 8% increase; new investors numbered 29,312, up 14%. Luxury real estate: Dh87.71 billion in transactions, a 26% increase. Foreign investment value: Dh148.35 billion, up 26%; the number of foreign investments rose 11% to 48,445. GCC nationals: Dh12.23 billion across 3,228 investments, a 14% increase in value. Arab investments: Dh12.11 billion distributed over 6,071 transactions. The figures point to broad-based activity across segments, from high-end luxury developments to wider investment volumes. Real estate investments rose in both number and value, and the rise in female investors — 15,540 transactions worth Dh32 billion — highlights diversification within the investor mix. Foreign investment remained a major component, accounting for Dh148.35 billion of Q1 activity and an 11 per cent rise in the number of investments, reinforcing Dubai's appeal to international buyers. Dubai Land Department data also emphasised that the market’s momentum is being driven by continued inflows, a growing investor base and diversification across project types. The Khaleej Times report noted the sector's role as a key driver of economic growth in the emirate and framed the performance as consistent with the objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033. Looking ahead, the report suggested that the sustained transactional velocity, rising foreign participation, and deepening domestic investor base are likely to underpin medium‑ to long‑term stability in Dubai’s property market. With luxury real estate and international investments continuing to expand, policymakers and market participants will be watching subsequent quarters for signs that the quarter‑one gains translate into ongoing, balanced growth through 2026 and beyond. --- ## From Your Room to Makkah: A Pakistani Startup Is Reimagining How You Apply for an Umrah Visa URL: https://startupsmena.com/from-your-room-to-makkah-a-pakistani-startup-is-reimagining-how-you-apply-for-an-umrah-visa-startupp-mnvqnfls Date: 2026-04-12 Category: tech Tags: Bookme, Umrah visa, digital visa, Saudi Arabia, Elm Company, Hajj and Umrah, travel tech, Pakistan **Summary:** Lahore-based Bookme, which began in 2012 as an online bus-ticketing service, publicly demonstrated a digitally integrated Umrah visa system in collaboration with Saudi Arabia’s Ministry of Hajj and Umrah and Elm Company in April 2026. The demo showcased platform-level integration intended to let Pakistani pilgrims apply for Umrah visas online without intermediaries. Bookme, a Lahore-based startup that began in 2012 as an online bus-ticketing service, publicly demonstrated a digitally integrated Umrah visa system at the Umrah and Ziyarah Forum in Madinah in April 2026. The demonstration, developed in collaboration with Saudi Arabia’s Ministry of Hajj and Umrah and Elm Company, showed direct platform-level integration with Saudi systems and culminated on April 6, 2026 when Bookme Founder and CEO Faizan Aslam was invited on stage and received a formal partnership acknowledgment from Saudi Arabia’s Minister of Hajj and Umrah. "Imagine this: you’re sitting in your room, open your phone, and begin your Umrah journey without visiting a travel agent, handling paperwork, or waiting days for approvals," the Startup.pk report quoted, capturing the user-facing promise of the new system. The demonstration offered a visual and technical preview of how Pakistan-origin pilgrims might apply for Umrah visas without the traditional intermediary steps. How the system works and why it matters Bookme’s showcase highlighted a move away from the fragmented, agent-dependent workflows that have characterized Umrah travel from Pakistan for decades. The company presented a set of core capabilities intended to streamline the process: Digitized visa application workflows that reduce manual paperwork; Direct platform-level integration with Saudi government systems via Elm Company; Reduced need for in-person processing and intermediary dependence; Faster and more transparent application experience for pilgrims. Bookme’s evolution into this role is incremental rather than abrupt. The startup first addressed a domestic friction: Pakistan’s intercity transport sector lacked digital booking infrastructure. By digitizing bus operators’ ticketing and inventory, Bookme expanded into flights, events, and hospitality — becoming one of Pakistan’s highest-volume transaction ecosystems. That operational scale, the company argues, made cross-border integration with Saudi digital infrastructure a natural extension of its core thesis: digitizing access at scale. The partnership did not appear overnight. According to the report, Bookme joined a Pakistan-led technology delegation to Saudi Arabia in 2023, laying initial diplomatic and commercial groundwork. By 2024, Bookme had deepened institutional relationships within Saudi tourism and digital sectors, and the 2026 demonstration is the most visible result of that engagement so far. Outlook Observers quoted in the Startup.pk piece frame the development within Saudi Arabia’s broader Vision 2030 push to expand Umrah capacity and digitize the pilgrim experience. As the article put it, "the shift is clear: from fragmented, manual systems toward connected, platform-driven access." For Pakistan’s startup ecosystem, direct integration with a foreign, government-linked digital system in a highly regulated domain like religious travel is notable — signalling that local platforms may increasingly operate in complex cross-border environments. Bookme’s system remains an evolving project. Its long-term impact will depend on how the platform scales, maintains accessibility for users outside major urban centres, and weathers regulatory and operational complexity on both sides. For now, the company’s demonstration in Madinah is a public signal that the journey to Makkah may soon begin, in many cases, from a screen rather than a travel office. --- ## Saudi Edtech Startup GAGA Raises $2.5M to Scale its Platform : TechMoran URL: https://startupsmena.com/saudi-edtech-startup-gaga-raises-25m-to-scale-its-platform-techmoran-mnvqke32 Date: 2026-04-12 Category: edtech Tags: funding, live learning, Saudi Arabia, AI, Arabic content **Summary:** Saudi edtech startup GAGA raised $2.5M in a pre-Series A round led by Phoenix Venture Partners to scale its live, interactive learning platform in Saudi Arabia, bringing total funding to $4.2M. The Riyadh-based company will expand its teacher network, strengthen tech infrastructure and scale Arabic-language content while developing AI tools to personalise learning. Saudi edtech GAGA secures $2.5 million pre-Series A to scale live learning Saudi Arabia-based edtech startup GAGA has raised $2.5 million in a pre-Series A funding round led by Phoenix Venture Partners, bringing the company’s total funding to $4.2 million. Founded in 2021 by Abdullah Alkharsani and Eyad Alshabaan, GAGA delivers live, interactive online education for students aged 4 to 18 and plans to use the new capital to expand its teacher network, strengthen technology infrastructure and scale Arabic-language content across the Kingdom. "GAGA is positioning itself as an alternative to private tutoring and passive digital learning platforms in the Kingdom," the report said. The Riyadh-based platform offers more than 1,000 programmes across 200 subjects, combining academic and skills-based lessons with real-time teacher engagement. GAGA differentiates itself from recorded-content platforms by focusing on live, gamified sessions that seek to boost engagement and learning outcomes. The company is also developing AI-powered tools designed to personalise learning journeys, assess student performance and identify knowledge gaps to enable more tailored education pathways. Funding round: $2.5 million pre-Series A led by Phoenix Venture Partners Total funding to date: $4.2 million Founders: Abdullah Alkharsani and Eyad Alshabaan Founded: 2021 Offerings: 1,000+ programmes across 200 subjects for ages 4–18 GAGA’s model targets parents and students seeking a middle ground between traditional private tutoring and passive, on-demand educational videos. By prioritising live interaction, gamification and teacher-led sessions, the startup aims to replicate the immediacy and adaptability of in-person lessons while delivering the scale and flexibility of digital platforms. The funding will be allocated to several strategic priorities. GAGA has signalled plans to expand the size and geographic reach of its teacher network, enhance its underlying technology stack to support simultaneous live classes, and increase Arabic-language educational content across Saudi Arabia. The round will also underwrite continued development of the startup’s AI capabilities, with tools intended to personalise instruction, monitor progress and surface areas where students need targeted support. For investors such as Phoenix Venture Partners, the deal underscores ongoing interest in education technology that blends live instruction with adaptive, data-driven features. For GAGA, the injection of capital arrives as it seeks to accelerate adoption in the Kingdom and refine product features that distinguish live, teacher-led experiences from recorded alternatives. Looking ahead, GAGA will be measured on its ability to scale teacher recruitment without diluting lesson quality, to operationalise its AI-driven analytics at classroom scale, and to convert demand for private tutoring into subscriptions for live online programmes. If successful, the company could expand its footprint across additional Arabic-speaking markets while continuing to develop tools aimed at improving student engagement and measurable learning outcomes. --- ## Startup wrap — Funding momentum continues amid Iran conflict URL: https://startupsmena.com/startup-wrap-funding-momentum-continues-amid-iran-conflict-arab-news-pk-mnvej7ll Date: 2026-04-12 Category: tech Tags: **Summary:** Investment activity in the MENA ... only 17 startups raising a total of $48.3 million, as investors reassessed the risk posed by the Iran war. This represented an 85 percent decline from February and Startups across the Middle East and North Africa continued to attract capital in early April despite spillover uncertainty from the conflict in Iran, but overall investment activity slowed sharply in March. MENA startups raised a record $7.5 billion in 2025 — a 225 percent surge year-on-year, according to Wamda data — yet March saw just 17 startups close rounds totaling $48.3 million, an 85 percent drop from February and a 62 percent decline versus March 2025. The UAE remained the region’s top funding hub with $36.8 million across eight deals, while Saudi Arabia accounted for $10.2 million across four transactions. “Maison Safqa was built to address this challenge by providing a controlled environment where premium and luxury brands can unlock that value while reaching the right audience,” said Lea Mehaweg, co‑founder and CEO of Maison Safqa. Key deals and uses of funds Maison Safqa (Saudi Arabia) — The flash‑sale platform, founded in 2024 by Lea Mehaweg, Estelle Nasr and Georgia Mehaweg, raised $620,000 in a pre‑seed round with participation from 500 Global via the Sanabil MENA 500 Accelerator Fund and regional angel investors. The start‑up said the funding will advance technology development, expand its brand and roll out offline activations in Riyadh and Jeddah, and aims for $2.5 million in cumulative sales within 18 months. Lucky (Egypt) — Consumer credit platform Lucky closed a $23 million Series B composed of equity and debt. Investors included Disruptech Ventures, DPI Venture Capital via the Nclude fund, and strategic participation from Suez Canal Bank and OneStop. Founded in 2019 and led by CEO Ayman Essawy, Lucky said the capital will scale its credit offering, support expansion into North Africa and strengthen infrastructure, licensing and regulatory readiness as it moves toward a neo‑banking‑ready platform. “Lucky has demonstrated disciplined growth, strong product‑market fit, and a clear vision for inclusive digital finance,” said Mohamed Farouk, chairman of Lucky’s board. ZSystems (Morocco) — The retail B2B2C marketplace raised $1.65 million in a seed round led by Azur Innovation Management, with participation from MNF Ventures, Witamax and Harambeans Prosperity Fund. Founded in 2022 by Samer Choumar, Meriem Benabad, Youssef Haddouch, Reda Nebri and Youssef Drafate, the company said total funding now stands at $2.7 million and that the fresh capital will fuel product development and deeper market penetration. Via Separations (US) — A $36 million round that included Saudi‑based Aramco Ventures, Climate Investment and Marathon Petroleum will help the deeptech firm accelerate deployment of its modular membrane filtration platform into refining and chemical sectors. “At Aramco Ventures, we invest in differentiated technologies that can deliver clear operational value at scale,” said Tibor Toth, senior investment director at Aramco Ventures. He added that Via Separations’ platform can “enhance efficiency and unlock additional capacity within existing refining and chemical assets.” ElGoat (Saudi Arabia) — Sports tech firm ElGoat raised $266,000 in a seed round led by Trigon at a $2.66 million valuation. Founded in March by Mohammed Al‑Munajem, ElGoat will use proceeds to accelerate product development, user acquisition and regional expansion across the MENA sports gaming market. While headline totals fell in March as investors reassessed geopolitical risk, activity across verticals — from consumer fintech to industrial deeptech and retail marketplaces — shows continued supply of capital and strategic corporate participation. With the UAE retaining its lead in deal volume and large strategic cheques such as the $36 million Via Separations round still closing, founders and backers will watch how macro risk and regulatory developments influence deal sizes and sectoral allocation in the coming months. --- ## Driving Digital Growth In The UAE: How To Choose The Right Partner For Your Business URL: https://startupsmena.com/driving-digital-growth-in-the-uae-how-to-choose-the-right-partner-for-your-business-mnvemcne Date: 2026-04-12 Category: other Tags: digital marketing, UAE, SEO, PPC, social media, e-commerce, AI **Summary:** The article outlines the UAE’s rapid digital adoption and advises businesses to partner with specialised marketing agencies, SEO providers and online marketing companies to build visibility, engagement and conversions. It lists key services, selection criteria for agencies and trends such as AI, video content and mobile-first strategies. The United Arab Emirates (UAE) has rapidly evolved into a global hub for innovation, entrepreneurship and digital transformation, with a surge in internet usage, eCommerce adoption and mobile penetration over the past decade. As consumers increasingly rely on search engines, social media and digital platforms to make purchasing decisions, businesses across sectors face mounting pressure to establish strong online presences. Partnering with specialised marketing agencies, SEO providers or online marketing companies in the UAE can be a decisive factor in unlocking new growth and protecting market share. "Digital marketing is more than just running ads or posting on social media." What effective digital partners deliver Marketing firms and SEO specialists in the UAE offer a range of services designed to increase visibility, engagement and conversions. Key service areas highlighted by industry observers include: Search Engine Optimization (SEO): Optimising website structure, content and technical elements to target relevant keywords, improve load speeds and enhance user experience, with the aim of increasing organic traffic and conversion rates. Pay-Per-Click (PPC) Advertising: Targeted campaigns on platforms such as Google Ads that enable instant audience reach and measurable return on investment when managed effectively. Social Media Marketing: Platform-specific strategies for Instagram, LinkedIn, TikTok and Facebook to build brand awareness and engage different audience segments. Content Marketing: Creation of blog posts, videos, infographics and case studies to build trust, authority and search visibility. Web Design and Development: Mobile-friendly site design and integrated development to ensure the website is both attractive and functional as a primary customer touchpoint. Why businesses should partner with agencies Access to expertise: Agencies bring specialised skills, technical knowledge and up-to-date awareness of industry trends and platform changes. Cost efficiency & scalability: Outsourcing avoids the overhead of hiring full in-house teams and allows companies to scale services as needs evolve. Data-driven decision-making: Professional marketers use analytics to measure performance and optimise campaigns continuously. Focus on core activities: Outsourcing marketing lets companies concentrate on product, operations and growth. How to choose the right partner With a crowded marketplace of agencies in the UAE, selection criteria matter. Businesses should prioritise industry experience, a proven track record demonstrated through case studies and client testimonials, transparent communication, customised strategies tailored to unique goals, and adherence to ethical marketing practices that avoid short-term shortcuts. Trends and measurement Trends: Artificial intelligence and automation (including chatbots and predictive analytics), voice search optimisation for smart devices, the ongoing dominance of video content and influencer collaborations, and a mobile-first approach. KPIs: Website traffic, conversion rates, return on investment (ROI), engagement metrics and search engine rankings—measured and reported regularly to refine strategy. Looking ahead, the UAE’s digital landscape is set to remain dynamic. Companies that invest in data-led strategies and select partners capable of long-term, ethical growth—rather than quick wins—will be better positioned to capitalise on rising digital adoption and changing consumer behaviour. --- ## Abu Dhabi, Qatar turn to private markets to raise billions - Pensions & Investments URL: https://startupsmena.com/abu-dhabi-qatar-turn-to-private-markets-to-raise-billions-pensions-investments-mnuswok7 Date: 2026-04-11 Category: funding Tags: private placements, Gulf, Abu Dhabi, Qatar, U.S. dollar, market volatility **Summary:** Abu Dhabi and Qatar issuers have tapped U.S. dollar-denominated private placements, with Gulf borrowers raising roughly $7.76 billion since Feb. 28 as an alternative to public markets amid heightened volatility. The shift highlights demand for confidential, tailored dollar funding from sovereign, quasi-sovereign and corporate issuers. Abu Dhabi and Qatar have turned to U.S. dollar-denominated private placements to raise billions of dollars amid recent market volatility, Pensions Investments reported on April 10, 2026. According to the Bloomberg-written article carried by Pensions Investments, Gulf issuers have collectively raised roughly $7.76 billion in such private placements since Feb. 28 as they seek alternative sources of financing. "In total, Gulf issuers have raised about $7.76 billion in U.S. dollar-denominated private placements since the conflict began on Feb. 28," the report said. Context and details The Bloomberg piece, published at 01:14 PM EDT on April 10, 2026 and carried by Pensions Investments, frames the fundraising activity as a response to heightened market volatility. The article highlights that Gulf borrowers — including sovereign, quasi-sovereign and corporate issuers across the region — are increasingly tapping the private-markets channel to secure dollar funding that might be harder to obtain, or more costly, in public markets during periods of instability. Source: Bloomberg, as published in Pensions Investments on April 10, 2026 Amount raised: Approximately $7.76 billion Currency: U.S. dollars Timeframe cited: Since Feb. 28 (described in the report as the start of the conflict) Region: Gulf issuers including Abu Dhabi and Qatar The article also noted the prominence of sectors such as real estate equity in the broader private capital mix, reflecting investor interest in assets that can be negotiated outside the public-debt markets. While the report did not detail issuer-level names or individual transactions in the excerpt published on Pensions Investments, the aggregate figure underscores a substantial shift toward privately negotiated financings in the wake of the market disruption. Outlook For Abu Dhabi, Qatar and other Gulf issuers, private placements offer a way to lock in U.S. dollar funding with greater speed and confidentiality than public issuance, and potentially on terms tailored to both borrower and investor needs. As Pensions Investments relayed from Bloomberg, the $7.76 billion tally through private placements signals that market participants are adapting funding strategies to navigate elevated volatility. Looking ahead, the persistence of geopolitical and market uncertainty will be a key determinant of whether Gulf borrowers continue to favor private placements over returning to public bond markets. Investors and issuers alike will be watching issuance volumes and pricing closely to assess when — and under what conditions — broader public-market activity might resume. --- ## UAE startup ItsRaw.ai to help restaurants gain visibility - My Startup World - Everything About the World of Startups! URL: https://startupsmena.com/uae-startup-itsrawai-to-help-restaurants-gain-visibility-my-startup-world-everything-about-the-world-mnui63rn Date: 2026-04-11 Category: tech Tags: **Summary:** Ivan-Duke is a former Sky broadcast journalist and previously led in-house public relations for a FTSE 100 company, before moving to the Middle East to launch major brands such as Airbnb and Savills t ItsRaw.ai, a new UAE-based restaurant public relations platform developed by duke+mir founders Jonathan Ivan-Duke and Mir Murtaza Khurshid, is pitching an AI-assisted service that promises to help restaurateurs share news and offers “for the price of a brunch.” Priced from AED 367 ($100) per month, the service offers both ‘self-write’ and ‘AI assisted’ content that can be used on a venue’s website or distributed to an extensive list of media, bloggers, influencers and food critics. ItsRaw.ai is initially targeting the UAE market, where the restaurant sector is estimated to spend roughly $1 billion (over AED 3.7 billion) a year on marketing and PR services and includes more than 28,000 F B outlets. Direct quote “We help restaurants of all sizes share their stories to help drive more customers through the door. There are more than 28,000 F B outlets across the UAE and we need to support them, now more than ever. We enable any restaurateur, regardless of their marketing experience or budgets, to tell a great story about their venue,” said ItsRaw.ai co‑founder Jonathan Ivan‑Duke. How the platform works The platform, created by the duke+mir team together with a development group across the UAE and the UK, uses proprietary technology and guided AI prompts to help users produce press-ready copy within minutes. ItsRaw.ai frames the workflow in three simple steps: Restaurants fill out a profile containing location, cuisine, menu highlights and unique selling points so the system “learns” the venue. To create a press release, users add details about the latest news or offers through guided options and AI assistance where required. Once content is generated, it can be sent to a curated media database covering outlets across the UAE. Content created on the platform is designed not just for distribution but for discoverability: ItsRaw.ai says copy can improve visibility across Google and popular AI platforms such as ChatGPT, and it structures items to ensure editors receive essential details like restaurant name, location, opening hours, pricing and booking information. Co‑founder Mir Murtaza Khurshid, who was born and raised in Abu Dhabi and has more than 15 years’ experience leading integrated marketing campaigns for brands including Five Guys, Tashas Group and Taj Hotels, added: “In the time it takes to boil an egg, you can set up a restaurant profile, tell the platform about your latest offers and send to a refined media database. We believe it is the fastest, easiest and cheapest way to share restaurant stories with the most influential audiences.” The genesis of ItsRaw.ai leans on the founders’ PR background: duke+mir has operated for more than five years, and Jonathan Ivan‑Duke comes from a journalism and corporate PR background that includes Sky and in‑house PR for a FTSE 100 company, plus launching brands such as Airbnb and Savills in the Middle East. The platform’s name nods to “bringing raw ingredients together with the right technique” to create something special, and is pitched as a lower‑cost alternative for venues looking to complement social spend and aggregator listings while reaching media and influencers more efficiently. --- ## Al Habtoor Group launches Dh5 billion commercial tower in Dubai URL: https://startupsmena.com/al-habtoor-group-launches-dh5-billion-commercial-tower-in-dubai-mnufggx7 Date: 2026-04-11 Category: tech Tags: **Summary:** The project forms part of the group’s broader expansion in the UAE expansion Dubai-based Al Habtoor Group has announced plans to develop a new commercial tower within Al Habtoor City, committing more than Dh5 billion to the project as part of a wider expansion across the UAE. The announcement, published by Gulf News on April 9, 2026, comes as the group moves to increase its commercial capacity in Dubai and strengthen its footprint across key sectors in both Dubai and Abu Dhabi. "The group said the development is among a series of major projects it plans to unveil this year, reflecting confidence in the UAE’s economic outlook and investment environment," Al Habtoor Group said in a statement carried by Gulf News. The upcoming tower is expected to add significant commercial capacity to Al Habtoor City, a high-profile mixed-use destination in Dubai that combines hospitality, residential and business functions. "The upcoming tower is expected to add significant commercial capacity to Al Habtoor City, one of Dubai’s prominent mixed-use destinations, reinforcing its position as a hub for business and lifestyle developments," the report said. Project details and strategic context Al Habtoor Group described the development as part of its broader UAE expansion strategy. The group has indicated it will roll out multiple major projects during the year, signalling continued investment into the emirates' urban and commercial landscape. Developer: Al Habtoor Group Location: Al Habtoor City, Dubai Investment: More than Dh5 billion Scope: New commercial tower to expand commercial capacity Geographic focus: Dubai and Abu Dhabi, as part of wider UAE expansion The Gulf News item emphasizes that the project "forms part of the group’s broader expansion strategy in the UAE, as it continues to strengthen its footprint in key sectors across Dubai and Abu Dhabi." That language underlines a dual-city focus for the group’s pipeline of developments and business activity. Al Habtoor City, already known for its mix of hotels, residences and entertainment assets, will see its commercial offering extended by the new tower. Developers and municipal stakeholders in Dubai have in recent years encouraged mixed-use projects that integrate office, retail and leisure, and Al Habtoor’s latest investment follows that model. Outlook Looking ahead, Al Habtoor Group framed the expansion as aligned with longer-term objectives. "The expansion aligns with long-term growth plans, aimed at supporting the country’s urban development and attracting further business activity to the region," the report noted. The Dh5 billion allocation for the new tower positions Al Habtoor Group among the larger private investors advancing Dubai’s commercial skyline this year. The company has said it will continue unveiling projects across the UAE, signalling ongoing capital deployment into the property and commercial sectors through 2026. --- ## Zayed Sustainability Prize to fund every finalist in 2027 URL: https://startupsmena.com/zayed-sustainability-prize-to-fund-every-finalist-in-2027-arn-news-centre-trending-news-sports-news--mnudirj8 Date: 2026-04-11 Category: tech Tags: **Summary:** Since its launch, the initiative says it has supported projects that have reached more than 400 million people worldwide, across areas such as access to clean water, healthcare, food and energy. Appli The Zayed Sustainability Prize will award funding to every finalist in its 2027 cycle, organisers announced, extending a model introduced this year that moves the prize from recognition to direct, sustained support. Under the new arrangement, organisations designated as finalists will receive grants of $100,000 each, while student teams will be awarded $25,000 to advance and scale their solutions across sectors including health, food, energy, water and climate action. Applications for the 2027 cycle are open, with submissions closing on June 22 and winners due to be announced in Abu Dhabi early next year. "The approach is designed to ensure promising solutions are not overlooked, particularly those with the potential to deliver measurable impact in local communities," officials said, underlining a shift to broader post-finalist support after a recent round that expanded funding beyond prizewinners. Context and recent results The move builds on the prize's most recent cycle, which selected 33 finalists and also channelled funding to 22 non-winning projects so they could continue their work. That cycle drew 7,761 submissions from 173 countries — a 30 per cent increase on the previous round — signalling rising global participation in the programme, organisers said. Grant amounts: $100,000 for organisations, $25,000 for student teams. Most recent finalists: 33 selected; 22 additional non-winning projects funded. Submissions: 7,761 entries from 173 countries (30% increase over previous cycle). Population reach since launch: projects supported have reached more than 400 million people worldwide. Officials cited recent examples of supported projects to illustrate the prize’s practical impact. One agricultural initiative in South Korea produces disease-free potato seeds using indoor farming technology, while a student-led team in Lebanon developed a water purification system that combines solar power with artificial intelligence. Since its launch, the initiative says it has backed projects delivering improvements in access to clean water, healthcare, food and energy, reaching more than 400 million people worldwide. Outlook for 2027 and beyond By committing to fund every finalist in 2027, the Zayed Sustainability Prize is aiming to reduce the risk that high-potential solutions stall for lack of follow-on support. Applications for the 2027 cycle remain open until June 22, with winners set to be announced in Abu Dhabi early next year, organisers said. The expanded model—credited by organisers in a WAM release and reported by ARN News Centre—signals an emphasis on scaling implementable projects as well as celebrating innovation. As the prize broadens its financial backing, stakeholders and applicants will watch whether the increased support translates into accelerated deployment of technologies and services in target communities across health, food, energy, water and climate action. --- ## Why Startups Are Rapidly Expanding In The UAE Market Today - UK Business Directory Listings URL: https://startupsmena.com/why-startups-are-rapidly-expanding-in-the-uae-market-today-uk-business-directory-listings-mnuch0k9 Date: 2026-04-11 Category: tech Tags: UAE, startups, Dubai, Abu Dhabi, fintech, artificial intelligence, clean energy, logistics, free zones, visa reform, funding **Summary:** The UAE has emerged as a preferred launchpad for startups thanks to strategic geography, streamlined company formation, visa and legal reforms, and growing pools of capital. Major hubs such as Dubai and Abu Dhabi offer world-class infrastructure, free zones and sector clusters—especially in fintech, AI, clean energy and logistics—that shorten time to market for founders targeting Europe, Asia and Africa. The United Arab Emirates has become a preferred launchpad for startups, combining strategic geography, streamlined regulation and growing capital pools that together shorten time to market for founders targeting Europe, Asia and Africa. Major hubs such as Dubai and Abu Dhabi provide world-class ports and airports, extensive free zone infrastructure and sector clusters in fintech, artificial intelligence, clean energy, media and healthcare — all underpinned by recent legal and visa reforms that encourage longer-term residency and foreign ownership. "The United Arab Emirates has emerged as a leading destination for startups seeking growth, stability, and global reach," wrote Akshat Rawal in a recent analysis for BritishBusinessBlog.co.uk. How the UAE ecosystem supports startup expansion Rawal’s piece highlights a number of concrete drivers behind the region’s appeal. Connectivity and logistics reduce operational friction for e-commerce, fintech and logistics ventures by enabling fast cross-border movement. Regulatory changes have simplified company formation: foreign investors can now take full ownership in many sectors, and free zones continue to offer tax incentives and streamlined documentation. Regulation and legal certainty: The article notes the introduction of corporate tax while emphasising that there is still no personal income tax, and points to specialised courts and arbitration centres that enhance investor protection. Funding and support infrastructure: Venture capital firms, angel investors, government-backed funds, innovation hubs and accelerator programmes are identified as active participants in the ecosystem, alongside sovereign wealth funds and private investors channeling capital into high-demand areas such as fintech, AI and clean energy. Digital-first policy environment: Government strategies promoting smart city initiatives, blockchain and artificial intelligence, plus regulatory sandboxes for fintech, provide startups with experimental spaces to iterate products before full-scale launches. Talent and residency reforms: The UAE’s quality of life, safety and long-term visa options are presented as key factors in attracting and retaining a diverse, skilled workforce essential for scaling startups. The article also underscores practical advantages: streamlined company registration, efficient visa processing and reliable infrastructure — from high-speed internet to modern office facilities — that reduce administrative burdens so founders can focus on product and market growth. Combined with a young, tech-savvy consumer base and a steady influx of tourists, startups gain access to both domestic demand and a global test market in a single jurisdiction. Outlook Rawal concludes that the UAE’s expansion as a startup hub is deliberate, driven by policy, infrastructure and investment flows. With ongoing efforts to diversify away from oil and programmes such as Vision 2030 referenced as part of broader economic planning, the UAE positions itself as a jurisdiction where startups can scale regionally and internationally. For entrepreneurs weighing relocation or market-entry, the combination of legal clarity, investor interest and connectivity presents a compelling case to establish operations in the Emirates. --- ## Dubai introduces single platform for real estate and residency services; what it means for buyers and investors URL: https://startupsmena.com/dubai-introduces-single-platform-for-real-estate-and-residency-services-what-it-means-for-buyers-and-mnuafqs6 Date: 2026-04-11 Category: other Tags: real estate, residency, digital government, GDRFA Dubai, Dubai Land Department, investors, Golden Residency, Retiree Residency, Property Residency, D33 **Summary:** Dubai's GDRFA and the Dubai Land Department signed an MoU to merge Golden, Retiree and Property Residency services into a single digital platform to simplify procedures and speed decision-making. The move aims to improve data sharing, reduce administrative touchpoints and bolster investor confidence. Dubai has taken a major step to streamline government services by signing a memorandum of understanding (MoU) to integrate real estate and residency processes into a single digital platform. Announced on April 11, 2026, the agreement between the General Directorate of Identity and Foreigners Affairs (GDRFA Dubai) and the Dubai Land Department consolidates three residency-linked property services — Golden Residency, Retiree Residency and Property Residency — into one unified channel intended to simplify procedures for residents, investors and property owners. "One platform will reduce time and allow faster decision-making," officials said, framing the move as a practical measure to cut administrative complexity and improve the overall user experience for applicants. Context and details The new platform replaces a process in which applicants had to interact with multiple authorities and undergo several separate steps to connect property ownership to residency benefits. By bringing Golden Residency, Retiree Residency and Property Residency under a single system, Dubai aims to enable seamless data sharing and tighter coordination between the GDRFA and the Dubai Land Department. Officials cited reduced processing times and more reliable outcomes as immediate goals, noting that the integration will support faster decision-making by eliminating duplicated steps and improving information flow. The Dubai Land Department's ongoing digital transformation work played a central role in enabling the collaboration, according to the announcement. Observers and authorities have framed the consolidation as part of a broader policy push to make service delivery more customer-centric. "The new system is designed to place customers at the center of services," the announcement said, underlining a focus on convenience and quality of life for residents and investors alike. What buyers and investors should expect Faster application processing for residency pathways tied to property ownership (Golden Residency, Retiree Residency, Property Residency). Fewer touchpoints across government bodies due to a single-channel service model. Improved data sharing between GDRFA Dubai and the Dubai Land Department, leading to quicker and more consistent decisions. Stronger confidence for long-term investors as property ownership is more directly linked with residency options. Closer alignment with Dubai Economic Agenda D33, which aims to double the size of the emirate's economy and enhance its global competitiveness. Authorities and industry watchers expect the integrated platform to bolster investor confidence by linking property ownership more directly to residency benefits, a factor that can increase long-term value and stability in the market. Reported by Gulf News and published by the TOI Lifestyle Desk, the initiative is being positioned as a step toward more connected government services and a digital-first approach to governance that could attract additional foreign investment and support sustainable economic growth in Dubai. --- ## Qualified Doctors Are Missing From AI Search. This UAE Startup Is Fixing That URL: https://startupsmena.com/qualified-doctors-are-missing-from-ai-search-this-uae-startup-is-fixing-that-mnuad3g4 Date: 2026-04-11 Category: tech Tags: **Summary:** Press release - elv8 - Qualified Doctors Are Missing From AI Search. This UAE Startup Is Fixing That - published on openPR.com Abu Dhabi-based startup elv8 has launched ProProfile.co, a fully managed digital presence service aimed at making private-practice physicians in the UAE discoverable in AI-driven search platforms such as ChatGPT, Google AI Overviews and Perplexity. The announcement, released via openPR on 04-10-2026, frames the problem as a structural gap: many experienced doctors lack the structured, verifiable online data that AI systems rely on, leaving them invisible to patients who increasingly use AI for healthcare research and decision-making. "A highly qualified specialist should not be invisible when patients search for care. Today, that invisibility is not about reputation. It is about structure. And it can be fixed." — Aju Abraham Thomas, Founder, ProProfile.co Context and service details ProProfile.co is offered by elv8, the strategy-led growth and communications studio founded by Abu Dhabi entrepreneur Aju Abraham Thomas. The product launched as a response to what Thomas and his consultancy AITrafficLab identify as a mismatch between real-world clinical expertise and how AI-first search systems surface professionals. According to the press release, many private-practice physicians in the UAE have only hospital listings or basic profiles online, which lack the structured data and authoritative content that AI models and aggregation services use to recommend or summarise experts. The ProProfile.co engagement is described as an end-to-end, managed service that aims to build an AI-optimised digital presence for high-value professionals, with an initial focus on private-practice doctors in the UAE. Key elements of the offering include: Custom-built websites designed for AI readability Structured data architecture to support verifiable information Authority-led content that explains specialisms and credentials Ongoing maintenance so physicians can remain focused on practice The company positions this approach as technical, not reputational: the issue is not the quality of the clinicians but the absence of machine-readable structure around their practice and qualifications. By crafting profiles that AI platforms can index and interpret, ProProfile.co aims to bridge the gap between a doctor's real-world expertise and their visibility within AI-overview results and conversational search outputs. Founder background and contacts Aju Abraham Thomas is presented in the release as an entrepreneur focused on digital visibility and strategic communications in the GCC. He leads elv8 and runs AITrafficLab, a consultancy that advises organisations on representation across AI-driven search platforms including ChatGPT, Perplexity and Google AI Overviews. ProProfile.co sits within elv8’s portfolio as a targeted product for healthcare professionals and other high-value practitioners. Media and business enquiries are directed to Aju Abraham Thomas. Contact details provided in the release include email hello@proprofile.co and the ProProfile website at https://www.proprofile.co. elv8 LLC’s registered location is listed as Shams Business Center, Sharjah Media City Free Zone, Al Messaned, Sharjah, UAE. Outlook ProProfile.co’s immediate focus is on the UAE private-practice market, with the stated objective of helping doctors be "discovered, understood, and selected" by AI-driven systems. As patients increasingly consult AI platforms for healthcare guidance, ProProfile.co is betting that structured, maintained digital presence will become a critical factor in patient choice — and that specialists who lack machine-readable profiles risk being overlooked regardless of clinical reputation. --- ## ANSR Launches Healthcare GCC Accelerator Platform to Drive AI-Enabled Enterprise Transformation URL: https://startupsmena.com/ansr-launches-healthcare-gcc-accelerator-platform-to-drive-ai-enabled-enterprise-transformation-mnu56o25 Date: 2026-04-11 Category: tech Tags: **Summary:** ANSR introduces a new platform to support healthcare enterprises in building and scaling AI-enabled GCCs. The solution combines operational expertise with AI capabilities to drive modernization and wo ANSR has launched a Healthcare GCC Accelerator Platform aimed at helping global healthcare enterprises build and scale AI-enabled Global Capability Centres (GCCs). The platform combines ANSR’s GCC expertise with Optum’s healthcare AI capabilities to support organisations in modernising operations, embedding AI into core workflows and building future-ready global teams. The offering is presented as an integrated solution that brings together both operational and technological capabilities required for large-scale transformation. "Healthcare enterprises need more than a technology platform or an operational playbook... they need both, fully integrated and built for scale," said Vikram Ahuja, Co-Founder, ANSR. What the platform offers End-to-end GCC build and scale support: ANSR contributes its experience in establishing and operating global capability centres, focused on operational design, governance and talent strategies. Healthcare AI integration: Optum supplies healthcare-focused AI capabilities aimed at embedding intelligent automation and analytics directly into clinical and administrative workflows. Modernisation and workforce readiness: The platform targets both technology modernisation and the development of future-ready global teams, aligning process redesign with AI adoption. Scale and responsible AI: The joint solution emphasises responsible application of AI while enabling impact to be scaled across an organisation's global teams. "ANSR brings deep expertise in building and operating global capability centers... By leveraging our Al capabilities within ANSR's GCC model, healthcare organizations can modernize operations, apply Al responsibly, and scale impact across their global teams," added Harish Gudi, CIO, Optum Technology, India. ANSR’s announcement frames the Healthcare GCC Accelerator Platform as a response to the growing need among healthcare organisations for tightly coupled operational and technological approaches to transformation. Rather than providing a standalone software product or a playbook, the platform is positioned as a combined solution: operational practices and GCC design from ANSR paired with Optum’s AI tools and domain knowledge in healthcare. According to the release published by Digital Health News, the collaboration is intended to enable healthcare enterprises to embed AI into core workflows — clinical, administrative and analytic — while also equipping global teams to operate and scale those capabilities. The emphasis on "future-ready global teams" reflects ANSR’s focus on workforce design and governance as part of capability-centre builds. Outlook: The new offering underlines an industry trend toward integrated transformation programmes that marry technology with organisational design. For healthcare systems and payers considering GCC models to centralise and scale services, the joint ANSR–Optum approach promises a packaged route to modernisation that addresses both the technical integration of AI and the operational structures needed to govern it. As enterprises evaluate partners for GCC initiatives, the ANSR Healthcare GCC Accelerator Platform positions itself on the convergence of GCC operations and healthcare AI expertise; stakeholders will be watching for client pilots and case studies that demonstrate measurable operational and clinical impact. --- ## “We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC URL: https://startupsmena.com/we-got-funded-maison-safqa-raises-us620000-in-pre-seed-funding-to-expand-luxury-flash-sale-platform--mnu54a8r Date: 2026-04-11 Category: e-commerce Tags: luxury, flash-sale, pre-seed, 500 Global, fashion, GCC, retail **Summary:** Maison Safqa, a Saudi-based luxury flash-sale e-commerce platform, raised US$620,000 in a pre-seed round led by 500 Global via the Sanabil MENA 500 Accelerator Fund to expand across the GCC and help brands sell excess inventory without diluting brand equity. Maison Safqa, a Saudi-based flash-sale e-commerce platform for premium and luxury brands, has raised US$620,000 in a pre-seed funding round to accelerate its expansion across the GCC. The round was backed by 500 Global through the Sanabil MENA 500 Accelerator Fund and included participation from Saudi and international angel investors. The platform, founded in 2024, offers limited-time discounts of up to 80% on international and regional designer brands across fashion, beauty and lifestyle. “The GCC luxury goods market generated $12.8 billion in revenue in 2025, yet brands still struggle to move excess inventory without diluting their image or compromising margin,” said Lea Mehaweg, Co‑founder and CEO, Maison Safqa. “Maison Safqa was built to address this challenge by providing a controlled environment where premium and luxury brands can unlock that value while reaching the right audience.” Context and platform details Maison Safqa was founded in 2024 by Lea Mehaweg, Estelle Nasr and Georgia Mehaweg. Since launching in May 2025, the startup has partnered with more than 50 fashion and lifestyle brands and reports it has increased gross sales more than 20-fold in less than a year. The platform is designed to help luxury and premium labels sell excess inventory while allowing brands to retain control over pricing, distribution and brand positioning — a common challenge in the region’s luxury market. Seed funding: US$620,000 pre-seed round backed by 500 Global via the Sanabil MENA 500 Accelerator Fund, plus Saudi and international angels. Founders: Lea Mehaweg, Estelle Nasr and Georgia Mehaweg. Launch and traction: Launched May 2025; partnered with 50+ brands; reported gross sales growth of over 20× within a year. Product offering: Limited-time flash sales with discounts up to 80% across fashion, beauty and lifestyle categories. Notable partner brands: Aigner, Lanvin, Liu Jo, Chantelle, Flabelus and Qormuz. The platform’s model targets the tension between maintaining brand equity and monetizing surplus stock. By operating controlled, time-bound sales events and curated product assortments, Maison Safqa seeks to give labels an alternative to deep discounting on open marketplaces or off-price channels that can erode perceived value. Outlook and use of funds With the new capital, Maison Safqa has set concrete growth targets and product investments. Over the next 18 months the company is targeting US$2.5 million in cumulative sales as it scales its presence across the GCC. Planned initiatives include in‑person sales events in Riyadh and Jeddah to complement online activity, and technology investments such as personalization features and automated seller onboarding tools to streamline brand participation. The backing from a regional accelerator fund and angels positions Maison Safqa to deepen relationships with European and regional designers while building the operational and tech infrastructure necessary to operate controlled flash sales at scale across the Gulf market. --- ## OCCI reviews Estidamah platform enhancements in Muscat URL: https://startupsmena.com/occi-reviews-estidamah-platform-enhancements-in-muscat-mnu521ox Date: 2026-04-11 Category: tech Tags: **Summary:** OCCI SME committee discusses upgrades to Estidamah platform to boost support for Omani entrepreneurs and streamline project registration. The Small and Medium Enterprises (SME) Committee of the Oman Chamber of Commerce and Industry (OCCI) reviewed proposed enhancements to the Estidamah platform at a meeting at the Chamber’s headquarters in Muscat on April 9, 2026. Chaired by Sheikh Ahmed Amer Al Maslahi, Chairman of the SME Committee, the session focused on boosting support for Omani entrepreneurs by advancing the platform’s capabilities, expanding its reach and streamlining project registration procedures to accelerate uptake during the platform’s initial launch phase. "Emphasis was placed on streamlining and accelerating project registration procedures to improve accessibility and user experience," the committee’s notes said, reflecting a central aim of the discussions to make Estidamah easier for business owners to use and to increase the number of projects registered early on. Meeting overview and platform priorities During the meeting, committee members reviewed current progress on Estidamah and examined a range of operational and outreach measures intended to make the platform more attractive to entrepreneurs. Key discussion items included efforts to secure specialized offers and benefits for Estidamah users, the setting of defined timeframes to maximise project submissions during the initial rollout, and consideration of widening the platform’s beneficiary base while preserving its core mission to serve Omani-owned small and medium businesses. Attracting tailored offers and benefits for platform users to add value for entrepreneurs. Establishing clear timeframes for the initial launch to maximise project registrations. Streamlining project registration steps to improve accessibility and user experience. Exploring a controlled expansion of the user base without diluting the platform’s focus on Omani entrepreneurs. Related regulatory work: recruitment offices and ICV Separately, the committee’s task force on regulating recruitment offices convened to review a dedicated platform designed to organise recruitment office operations. The task force evaluated the platform’s mechanisms and potential to better regulate the recruitment of expatriate labour, improve operational efficiency and mitigate sector-specific challenges. The meeting also canvassed ways to strengthen local institutions’ participation in projects tied to In-Country Value (ICV), aligning labour regulation and procurement practices with broader national economic priorities. Officials framed the recruitment-office platform as complementary to Estidamah: while Estidamah focuses on enabling entrepreneurs to register and scale projects, the recruitment-office initiative aims to bring more transparency and operational coherence to labour flows that affect business growth and project implementation. Outlook With Sheikh Ahmed Amer Al Maslahi leading the SME Committee’s discussions, OCCI is moving to convert the committee’s proposals into actionable upgrades for Estidamah and to press forward with digital tools for recruitment regulation and ICV participation. The committee’s emphasis on defined launch timelines and simplified registration suggests a near-term push to drive early adoption. Next steps are expected to include detailed technical and stakeholder consultations to operationalise the proposed platform enhancements and to coordinate with local institutions on linked ICV and recruitment initiatives. --- ## Family Office Banking Solutions Singapore vs Switzerland: 2026 Guide URL: https://startupsmena.com/family-office-banking-solutions-singapore-vs-switzerland-2026-guide-mnu4zatt Date: 2026-04-11 Category: tech Tags: **Summary:** As of late 2023, Singapore housed ... massive capital from across Asia and the Middle East. Singapore offers incredibly attractive tax incentives. The Section 13O and Section 13U schemes provide tax e As family offices become the default vehicle for managing multi-generational capital, the choice between Singapore and Switzerland is now central to strategy. As of late 2023 Singapore hosted roughly 1,400 single family offices and offers targeted tax regimes — notably the Section 13O and Section 13U schemes — while Switzerland retains its longstanding edge in privacy, custody and succession planning. Practical thresholds in the source analysis place traditional private banking as adequate for $5 million–$15 million, family-office structures once AUM exceeds $30 million, and jurisdictional sweet spots at roughly $100 million for Switzerland and $20 million for Singapore (the latter cited as the minimum for 13O eligibility). "Nearly 70% of wealthy families lose their wealth by the second generation," the guide warns, arguing that "you are the CEO of your family's balance sheet" when capital reaches institutional scale. That framing drives the comparative detail. Switzerland is presented as the legacy jurisdiction for wealth preservation: deep private-banking heritage, political neutrality, and a regulatory environment shaped by FinIA. The report highlights Swiss strengths including "world-class custody services for traditional and alternative assets," "sophisticated Lombard lending and cross-border credit facilities," and "deep integration with Luxembourg holding companies for European investments." Those features make Switzerland attractive where privacy and succession continuity — often via foundations and trust structures — are top priorities. Singapore, by contrast, is positioned as the hub for Asian growth and operational efficiency. The guide singles out time-zone alignment with Asian markets, a "streamlined, business-friendly regulatory framework," and proximity to emerging-market private equity and venture capital as primary advantages. Crucially, it cites the tax benefit: "The Section 13O and Section 13U schemes provide tax exemptions on specified income derived from designated investments." The source also notes faster setup times and a lower AUM entry point than Switzerland, and highlights the city-state's appeal to capital from across Asia and the Middle East. Operational design and governance Beyond jurisdictional choice, the guide stresses formal governance and consolidated reporting as operational imperatives. It recommends establishing a Family Constitution and an Investment Policy Statement (IPS) to remove emotion from investment decisions and codify intergenerational rules. It also illustrates a typical architecture: a Family Trust or Foundation as ultimate beneficiary, a Family Office or Holding Company as manager, and multiple custodians (Swiss bank, Singapore bank, US brokerage) for asset segregation. Key metrics to monitor: real-time asset allocation, capital calls, consolidated IRR and liquidity, and stress risk analytics (e.g., 20% market correction scenarios). Cost signals: the guide flags high operating budgets — one diagnostic question asks if families are "comfortable spending over $1.5M annually on operational overhead?" — and categorises SFOs versus MFOs based on scale and bespoke needs. Advisory channel: service firms such as Easy Global Banking are promoted in the guide; the site invites readers to "Open a Secure International Bank Account Today" and to request a free consultation on top jurisdictions. Outlook: the right jurisdiction depends on a family's primary objective. For preservation, privacy, and deep European integration, Switzerland remains the default. For tax efficiency, faster setup, and proximity to Asia-Pacific growth and venture capital, Singapore represents a compelling alternative — especially for families seeking Section 13O/13U exemptions and a lower AUM entry point for a formal family office. --- ## The Rise of Digital Debt Securities in the Middle East URL: https://startupsmena.com/the-rise-of-digital-debt-securities-in-the-middle-east-mnu0r31r Date: 2026-04-11 Category: tech Tags: **Summary:** GCC issuers expand digitally native bond activity as regulators refine frameworks. Faster settlement, lower costs, and DLT infrastructure drive regional momentum The Gulf Cooperation Council (GCC) is accelerating the adoption of digitally native debt securities, with commercial banks and regional exchanges issuing a string of blockchain-recorded notes since mid‑2025. Notable transactions include First Abu Dhabi Bank’s USD 100 million digitally native notes on 8 July 2025, Qatar National Bank’s USD 500 million issuance on 26 November 2025, Doha Bank’s USD 150 million issue on Euroclear’s digital financial market infrastructure (D‑FMI) on 4 December 2025, and Emirates NBD’s AED 1 billion digitally native notes on Euroclear D‑FMI on 15 January 2026. These deals signal growing market experimentation with distributed ledger technology (DLT) for issuance, settlement and lifecycle management. "Let’s get digital – the Middle East has been working toward broader adoption of digital debt securities, driven by government‑led transformation agendas, regulatory frameworks, and an appetite for financial innovation," wrote Alex Roussos of Greenberg Traurig, LLP, summarising the region’s push toward DLT‑based capital markets. What digital bonds are and why issuers are moving Digital bonds and sukuk use distributed ledger technology — typically private, permissioned blockchains operated by regulated financial institutions — to record issuance, investor registries, settlement and lifecycle events. Economically they mirror traditional bonds: issuers raise capital, investors receive interest or profit, and principal is repaid at maturity. The distinction lies in the infrastructure: issuance and settlement occur on‑ledger rather than through multiple intermediaries and legacy clearing systems. Models: The market recognises two principal approaches — digitally native bonds that are created and exist entirely within a DLT platform, and tokenised traditional bonds where conventional instruments are represented by tokens on a blockchain. GCC transactions to date have been digitally native. Settlement and cost advantages: DLT enables same‑day or instantaneous settlement versus traditional settlement cycles that can be as long as T+5, reducing counterparty risk and potentially cutting issuance and settlement costs. Automation and transparency: Smart contracts can automate interest/profit payments, corporate actions and reporting, while on‑ledger records provide a shared, real‑time view of ownership for issuers, investors and regulators. Interoperability: Integration with global custodians such as Euroclear and Clearstream may enable broader cross‑border investor access, a factor evident in the use of Euroclear’s D‑FMI for Doha Bank and Emirates NBD transactions. Challenges and immediate market outlook Despite momentum, important market frictions remain. Regional frameworks for tokenised debt — custody, secondary trading and investor protection — are still developing, secondary market liquidity is limited, and issuances continue to rely on international platforms. Banks and investors must update systems and training, and address cybersecurity and legacy‑system integration risks. Roussos highlights the likely next phase: digital sukuk, ESG‑linked digital bonds and broader corporate adoption. He also notes that issuers have incorporated digitally native note (DNN) mechanics into existing Euro Medium Term Note (EMTN) programmes by way of supplement, providing a template for future deals. Continued regulatory clarity and infrastructure development will be central to expanding digital capital markets across sovereign, corporate and Sharia‑compliant segments in the GCC. --- ## Association Rolls Out Agricultural Incubator to Address Climate, Resource Challenges URL: https://startupsmena.com/association-rolls-out-agricultural-incubator-to-address-climate-resource-challenges-mnu0oc4s Date: 2026-04-11 Category: tech Tags: agritech, incubator, agriculture, Jordan, climate, food security **Summary:** JEIA launched Agritech Jordan, a national agricultural innovation and technology incubator in Amman to support agri-tech startups with incubation, mentoring, training and access to finance to address climate and resource challenges. Amman, April 9 (Petra) — The Jordan Entrepreneurship and Innovation Association (JEIA) on Thursday launched the Jordan Agricultural Innovation and Technology Incubator (Agritech Jordan), a national initiative aimed at advancing the Kingdom’s agricultural entrepreneurship ecosystem. Implemented in partnership with the Jordan Agricultural Engineers Association, the incubator is positioned to address mounting sectoral challenges including climate change, resource constraints and rising production costs by promoting technology-driven and research-based solutions. "The future of agriculture in Jordan hinges on transitioning to smart, technology-based practices, describing the incubator as a national platform for transforming youth-driven ideas into viable production projects," said Ali Abu Nuqta, head of the Jordan Agricultural Engineers Association. Program scope and support offered According to a JEIA statement, Agritech Jordan will provide an integrated platform to support innovators through specialized incubation and acceleration programs focused on agricultural technologies. The initiative aims to empower entrepreneurs to develop sustainable and scalable agricultural business models, contributing to job creation and strengthening national food security. Specialized incubation and acceleration programs in agricultural technologies Training and capacity building tailored to agri-tech ventures Mentorship from technical and business experts Facilitation of access to financing and markets to enhance project viability Imad Ayasrah, head of the Jordan Entrepreneurship and Innovation Association, framed the incubator as part of a broader strategic plan. "The incubator reflects a strategic vision to build an integrated agricultural entrepreneurship framework, noting that Agritech Jordan serves as a national platform for fostering innovation and enabling startups to scale and compete," he said. The JEIA said the measures are intended to enhance project viability and sustainability while boosting the competitiveness of Jordan’s agricultural sector at the local and regional levels. By pairing research-based solutions with private-sector and syndicate expertise, Agritech Jordan seeks to translate early-stage ideas into production-ready ventures capable of coping with dwindling water resources, higher input costs and climate variability. Sector challenges and expected impact Jordan’s agricultural sector faces acute pressure from water scarcity, soil degradation and an increasingly unpredictable climate. The incubator targets these vulnerabilities by encouraging smart farming practices, precision agriculture, alternative water-use technologies and value-chain innovations that can reduce production costs and increase yields. JEIA’s approach emphasizes both technical support and market linkages. The incubator’s combined services — from mentorship to financing facilitation — are designed to increase the survival and scalability rates of startups, create jobs in rural and peri-urban areas, and contribute to national food security objectives. Looking ahead, Agritech Jordan will be evaluated on its ability to attract youth-led ventures, secure partnerships with research institutions and private investors, and move pilot projects into commercially viable operations. With backing from the Jordan Agricultural Engineers Association and JEIA’s institutional resources, organizers say the initiative aims to position Jordanian agricultural startups to compete across regional markets while confronting the climate and resource challenges that threaten long-term sector resilience. --- ## AGEL–Minerva JV Signals Rising Gulf Investment in India’s Clean Energy Sector URL: https://startupsmena.com/agelminerva-jv-signals-rising-gulf-investment-in-indias-clean-energy-sector-mntwmjtu Date: 2026-04-11 Category: tech Tags: **Summary:** Adani Green has partnered with Minerva to form a JV platform for developing renewable energy projects in India, with shared governance and a long-term project execution focus. Adani Green Energy Limited (AGEL) and Minerva Holding RSC Ltd have formalised a joint venture to develop, construct and operate renewable energy projects in India, signalling increased Gulf capital flows into the country’s clean power sector. The Joint Venture Agreement, executed on April 8, 2026, establishes Minerva Renewables Holding RSC Limited through AGEL’s wholly owned subsidiary, Adani Renewable Energy Middle East Ltd (AGEL UAE). Under the deal, AGEL UAE will hold up to a 20 percent stake while Minerva will retain majority ownership. "AGEL UAE will hold up to a 20 percent stake in the joint venture, while Minerva will hold the majority equity. Minerva will have the right to appoint up to four directors to the board, while AGEL will nominate one director," the agreement states, setting out the governance framework for the newly formed platform. JV structure and strategic positioning The joint venture is conceived as a dedicated platform for project execution, with a board overseeing the operations of the joint venture and its subsidiaries. Key structural and contextual details from the agreement and related corporate ownership include: Entity formed: Minerva Renewables Holding RSC Limited, created to undertake renewable energy projects in India. Parties: Adani Green Energy Limited (AGEL) via Adani Renewable Energy Middle East Ltd (AGEL UAE) and Minerva Holding RSC Ltd. Shareholding and governance: AGEL UAE up to 20% stake; Minerva majority. Minerva may appoint up to four directors; AGEL will nominate one director. Parentage: Minerva Holding RSC Ltd is wholly owned by EPointZero Holding RSC Ltd, the energy and infrastructure arm of International Holding Company PJSC (IHC Group), an Abu Dhabi-based conglomerate with a reported market capitalisation exceeding USD 230 billion. Context: AGEL’s recent growth and operational sc --- ## Nutanix delivers platform for Agentic AI era, helping customers unlock new opportunities URL: https://startupsmena.com/nutanix-delivers-platform-for-agentic-ai-era-helping-customers-unlock-new-opportunities-tahawultechc-mntwhgbd Date: 2026-04-11 Category: tech Tags: **Summary:** Dubai — Nutanix, a leader in hybrid multicloud computing, today announced new capabilities to the Nutanix Cloud Platform (NCP) solution … Dubai — Nutanix today unveiled a series of enhancements to the Nutanix Cloud Platform (NCP) aimed at helping organisations manage expanding AI workloads, increasingly complex cloud environments, and hardware supply constraints. The vendor said the updates — which include early access launches and generally available releases — extend NCP’s full-stack capabilities across AI infrastructure, unified storage, Kubernetes on bare metal, and data security for sovereign and air-gapped deployments. “As organisations across MEA rethink their infrastructure strategies in the face of growing AI demands and supply chain challenges, Nutanix is uniquely positioned to provide a consistent, scalable, and sovereign cloud platform,” said Mohammad Abulhouf, Vice President GM, Middle East Africa, Nutanix. “We are committed to helping our customers unlock new opportunities while maintaining complete flexibility and control.” What Nutanix is delivering The company outlined multiple product moves that it says will enable enterprises to run virtualised, modern applications and AI workloads anywhere while preserving platform choice and sovereignty. Key announcements include: Nutanix Agentic AI — Announced at NVIDIA GTC 2026 and currently in early access, the full-stack Agentic AI platform is designed to help enterprises build and operate AI applications on NCP. Nutanix said the complete solution will be available in the second half of 2026 and will integrate compute, storage, networking and Kubernetes services on a secure, high-performance virtualisation foundation for AI infrastructure. NKP Metal — Extending the Nutanix Kubernetes Platform (NKP), NKP Metal is in early access and will be generally available in the second half of 2026. It enables Kubernetes deployments directly on bare-metal infrastructure to deliver higher performance for edge environments and dense GPU training workloads. Nutanix Unified Storage (NUS) 5.3 — Generally available now, NUS 5.3 adds Smart Tiering to move data seamlessly to Google Cloud and OVHCloud S3, multitenant object scaling and quotas to support large AI data lakes, and is positioned to turn object storage into a performance tier for “AI Factories.” Nutanix also said NUS will introduce RDMA acceleration for S3-compatible object storage later in 2026 to boost throughput for large training datasets. Nutanix Data Lens 2.0 — Generally available now and able to run fully on-premises, including in air-gapped environments, Data Lens 2.0 brings ransomware analytics, data audit and governance, and visibility across distributed storage footprints for sovereign and dark-site deployments. Database and service-provider integrations — A certified integration between Nutanix Database Service and MongoDB Ops Manager is generally available now to simplify automated provisioning and lifecycle management. Nutanix Service Provider Central (SP Central), in early access, adds multitenancy capabilities for service providers and will reach general availability in the second half of 2026. “With the Nutanix Cloud Platform, customers can make better use of existing hardware infrastructure, expand across a growing ecosystem of cloud and infrastructure providers, and maintain choice and control over where workloads run, even as hardware availability and procurement timelines shift,” said Thomas Cornely, Executive Vice President, Product Management, Nutanix. Outlook: Nutanix is positioning NCP as a flexible, sovereign alternative for organisations balancing hybrid multicloud agility with control over data and applications. With multiple items in early access and several features already generally available, the company expects to ship the full Agentic AI stack and NKP Metal by the second half of 2026, while continuing to roll out performance and security enhancements for AI training, object storage and air-gapped environments. --- ## Iran's Attacks on UAE, Saudi Arabia, and Qatar Were the First War Against AI URL: https://startupsmena.com/irans-attacks-on-uae-saudi-arabia-and-qatar-were-the-first-war-against-ai-mntwjzpl Date: 2026-04-11 Category: tech Tags: **Summary:** The belief that capital could ... of the fundamental realities of geography. When U.S. President Donald Trump concluded his Middle East tour in May 2025, the scale of ambition was unprecedented: more On March 1, Iranian drones struck two Amazon Web Services data centers in the United Arab Emirates and damaged a third in Bahrain, knocking banking apps offline, freezing payment platforms and leaving cloud services across the Gulf partially offline for weeks, according to an analysis by Hamid Dahouei and Arash Reisinezhad. The strikes exposed a strategic vulnerability at the heart of the Gulf’s AI buildout: expensive, fixed data campuses concentrated in a persistently contested geographic corridor. "If a rival cannot close the technological gap through espionage or sabotage, the alternative becomes preemption: 'bomb your data center,'" former Google CEO Eric Schmidt warned in April 2025, a line the authors cite to underline the emerging logic of AI-era conflict. Context and key facts The Gulf had become a major focus for global AI investment. When U.S. President Donald Trump concluded his Middle East tour in May 2025, more than $2 trillion in investment pledges from Saudi Arabia, Qatar, and the UAE were announced, with a substantial share directed toward AI infrastructure. High-profile projects and commitments included the Stargate UAE initiative — a joint effort linking OpenAI, Nvidia and Abu Dhabi’s G42 — envisioned as the largest AI campus outside the United States. Amazon committed more than $5 billion to Riyadh, while Microsoft pledged $15 billion to the UAE. The regional buildout had been shaped by policy and commercial choices: data localization mandates required sensitive data to be physically hosted within a nation’s coastal zone, and commercial partners sought local presence to access capital, energy and markets. Analysts quoted by Dahouei and Reisinezhad say Iran’s operation benefited from asymmetric means and external support: Iran reportedly accessed China’s BeiDou satellite system for higher-accuracy targeting while Chinese satellite companies simultaneously published high-resolution imagery of U.S. military deployments, providing what the authors call "free targeting data." The strikes illustrated a stark cost asymmetry: a data campus worth billions can be disabled by drones described in the analysis as costing "a few thousand" dollars. The attacks also intersected with broader energy risks after steps that affected the Strait of Hormuz, which handles roughly 20 percent of the world’s seaborne oil. Outlook The authors argue the Gulf strikes have recalibrated the calculus for where and how the next generation of AI infrastructure is built. Projects that tied hyperscale compute to coastal, energy-intensive campuses in a contested region are now exposed to relatively inexpensive kinetic denial. The episode has heightened interest in alternatives that were previously marginal, including more geographically distributed architectures and even space-based data centers — options whose economics may look different in a world where drones can disable terrestrial campuses for the price of a used car. Beyond immediate recovery and reinforcement, the incident has broader geopolitical implications: initiatives such as Pax Silica and national AI vehicles like Saudi Arabia’s Humain, which pledged not to purchase Chinese equipment, turned commercial infrastructure into a contested front in U.S.-China technological competition — and, as the analysis concludes, that made the Gulf a target rather than a safe berth for global AI ambition. --- ## Indian Startup Funding Falls 18% to $11.7B in FY26: Tracxn Report URL: https://startupsmena.com/indian-startup-funding-falls-18-to-117b-in-fy26-tracxn-report-mntwf3jx Date: 2026-04-11 Category: tech Tags: **Summary:** Venture capital funding into Indian startups declined sharply in the first week of April, as the lack of high-value deals drove the value down. This decline also reveals the challenge the startup ecos Indian startup funding fell 18% to USD 11.7 billion in fiscal year 2025-26, driven by a scarcity of high-value rounds and cooling investor appetite, according to Tracxn’s India Tech Annual Funding Report 2026 published on April 8, 2026. The decline takes funding down from USD 14.3 billion in FY24-25, while still remaining 20% higher than FY23-24’s USD 9.7 billion. Seed-stage investment dipped 15% to USD 1.3 billion, and the count of rounds above USD 100 million fell to 13 in FY26 from 23 the prior year. “While overall funding saw moderation, strong momentum in early-stage investments highlights continued investor confidence in startups building differentiated and scalable solutions,” Neha Singh, Co‑Founder of Tracxn, said. Tracxn’s report highlights a bifurcated funding landscape: early-stage rounds showed robust growth while late-stage financing contracted sharply. Key figures include: Early-stage funding rose to USD 4.8 billion in FY26, a 33% increase from USD 3.6 billion in FY24-25 and 37% above FY23-24’s USD 3.5 billion. Late-stage startups raised USD 5.6 billion in FY26, a 38% decline from USD 9.2 billion in FY24-25 but an 18% increase versus FY23-24’s USD 4.7 billion. Seed-stage funding declined to USD 1.3 billion from USD 1.5 billion in FY24-25. Tracxn also reported the technology sector raised USD 10.9 billion in FY26 in one section of the report, a 23% drop from FY25 but 13% higher than FY23-24’s USD 9.7 billion, reflecting some variance in segment accounting across the dataset. Large rounds that did occur were concentrated in enterprise and energy plays. Notable transactions cited by Tracxn include Nxtra’s USD 710 million private equity round, Neysa’s USD 600 million Series B, and Inox Clean Energy’s USD 344 million Series D. Geography and investor activity mirrored the funding split. Bengaluru remained the top city, capturing 33% of total funding, followed by Mumbai at 21%. Most active seed investors were Inflection Point Ventures, Rainmatter and Venture Catalysts; Peak XV Partners, Accel and Lightspeed Venture Partners led early-stage activity; and late-stage capital was driven by Sofina, Elev8 and Lathe Investment. Sector trends were mixed. Enterprise Applications secured USD 3.6 billion, the same as FY25 and up 23% over FY23-24. FinTech raised USD 2.4 billion (up 14% year‑on‑year and 27% versus FY23-24). Retail funding contracted 32% to USD 2.4 billion from USD 3.5 billion in FY24-25. Public exits accelerated: India recorded 47 IPOs in FY26, a 52% increase from 31 IPOs in FY24-25, with major listings including Lenskart, Groww and Meesho. The report noted six new unicorns in FY26, up from four the previous year. Tracxn also positioned India as the fourth-largest source of startup funding globally in FY25-26, behind the US, the UK and China and ahead of Germany and France. However, the report warned of headwinds: venture funding dipped sharply in the first week of April amid a lack of mega-deals and uncertainty tied to the ongoing Middle East crisis. Despite this, Q1 2026 activity showed investors continuing to back resilient business models across EV mobility, deeptech, fintech, quick commerce, healthcare and manufacturing — leaving the sector poised for selective recovery if macro risks ease. --- ## Saudi Arabia Contract Logistics Market: E-commerce Expansion, Warehousing Innovation & Supply Chain Optimization URL: https://startupsmena.com/saudi-arabia-contract-logistics-market-e-commerce-expansion-warehousing-innovation-supply-chain-opti-mntsgnmm Date: 2026-04-11 Category: tech Tags: **Summary:** How rapid e-commerce growth, advanced warehousing technologies, and integrated supply chain solutions are enhancing efficiency, flexibility, and service quality across the Saudi Arabia contract logist The Saudi Arabia contract logistics market, valued at USD 3.2 billion in 2025, is set for sustained expansion as e-commerce penetration, infrastructure spending and technology adoption reshape warehousing and distribution across the kingdom. IMARC Group projects the market to reach USD 5.4 billion by 2034, with a compound annual growth rate of 6.04% from 2026–2034. Key demand drivers include more than 33 million users engaging in online transactions, investments in logistics zones exceeding SR10 billion, and growing requirements for temperature-controlled and last‑mile solutions across retail, manufacturing, healthcare and FMCG sectors. "How rapid e-commerce growth, advanced warehousing technologies, and integrated supply chain solutions are enhancing efficiency, flexibility, and service quality across the Saudi Arabia contract logistics market." Market dynamics and technology adoption Businesses are increasingly outsourcing warehousing, transportation and distribution to third‑party logistics providers to improve efficiency and reduce operating costs. Providers are responding with investments in automation, smart inventory systems, AI-driven predictive analytics, IoT-enabled real‑time tracking and route optimization to meet rising consumer expectations for same‑day and next‑day delivery. The report highlights a growing need for temperature‑controlled logistics and scalable solutions, particularly for consumer goods and healthcare supply chains. Infrastructure and connectivity improvements are reinforcing the sector’s growth. Strategic investments in ports such as Jeddah Islamic Port and King Abdullah Port, together with planned logistics parks and smart transportation projects, are intended to strengthen Saudi Arabia’s role as a regional logistics hub under Vision 2030. The development of integrated transport networks and modern warehouses supports faster cargo handling, reduces transit times and attracts international logistics players. Recent deals and capital commitments February 2026: WiseTech Global partners with Elm Company to digitize Saudi contract logistics with advanced automation, cloud‑based tracking and streamlined trade solutions. January 2026: MSC Saudi Arabia forms a strategic partnership with NAQEL Express to improve multimodal connectivity and contract logistics services. November 2025: DHL Supply Chain invested EUR 130 million to build a 78,000 square metre regional logistics hub in Riyadh’s Special Integrated Logistics Zone, adding 53,000 square metres of advanced multi‑user warehouse space. August 2025: DHL eCommerce finalised a minority stake acquisition in AJEX Logistics Services, gaining access to over 50 facilities and a fleet exceeding 900 vehicles. June 2025: DHL Group committed over EUR 500 million across Middle East operations with a major focus on Saudi Arabia, targeting warehousing and technology integration. Outlook As e‑commerce volumes continue to climb and Vision 2030 investments mature, the contract logistics landscape in Saudi Arabia is expected to prioritise digitalisation, automation and sustainability. Companies are already piloting electric vehicles, energy‑efficient warehouses and sustainable packaging to meet environmental targets. With projected market growth to USD 5.4 billion by 2034 and continued capital commitments from global logistics players, the sector is poised to deliver deeper regional connectivity, improved service quality and more sophisticated, technology‑driven fulfilment models. --- ## Saudi Arabia Retail Market: Omnichannel Growth, Consumer Experience & Digital Transformation URL: https://startupsmena.com/saudi-arabia-retail-market-omnichannel-growth-consumer-experience-digital-transformation-futurism-mntsdgfg Date: 2026-04-11 Category: tech Tags: **Summary:** January 2026: Leading retail group opens AI-driven logistics hub in Riyadh powered by renewable energy, automating inventory management and streamlining distribution for faster, more efficient operati Saudi Arabia’s retail sector is accelerating through a mix of omnichannel expansion, AI-led operations and shifting consumer preferences, with IMARC Group valuing the market at USD 293.6 billion in 2025 and projecting growth to USD 411.7 billion by 2034 at a compound annual growth rate (CAGR) of 3.83% from 2026–2034. Recent industry moves include the January 2026 launch of an AI-driven logistics hub in Riyadh powered by renewable energy, widespread October 2025 rollouts of smart checkout kiosks with facial recognition and QR payments, and a July 2025 partnership between Jahez and ROSHN to introduce commercial autonomous food delivery using self-driving robots. "According to IMARC Group’s latest data, the Saudi Arabia retail market size was valued at USD 293.6 Billion in 2025," wrote Kishan Kumar, summarizing the market’s current scale and the trajectory underpinning retailer and investor activity in the Kingdom. Context and operational shifts Retailers across Saudi Arabia are adopting omnichannel strategies—integrating mobile apps, click-and-collect services and real-time inventory management—to meet a young, tech-savvy consumer base and rising middle-class incomes. Key segments highlighted include food and grocery, apparel, electronics and personal care, with experiential and premium offerings increasingly in demand. Industry-specific innovation is visible in recent initiatives and pilots: January 2026 — A leading retail group opened an AI-driven logistics hub in Riyadh that uses renewable energy to automate inventory management and streamline distribution, intended to speed up fulfilment and reduce operational costs. October 2025 — Smart checkout kiosks featuring facial recognition and QR payments rolled out widely, a move credited with dramatically reducing in-store wait times and enhancing contactless shopping experiences. July 2025 — Jahez partnered with ROSHN to launch Saudi Arabia’s first commercial autonomous food delivery service using self-driving robots equipped with over 20 sensors, targeting faster quick-commerce fulfilment. February 2026 — Chalhoub Group’s AI beauty coach "Layla" on faces.com reportedly drove 2.5 times higher conversion rates through hyper-personalized, culturally relevant recommendations, underscoring AI’s role in boosting online sales. March 2026 — Pop-up retail concepts surged as SMEs embraced flexible short-term formats, increasing brand visibility and experimentation across the Kingdom. Sustainability and localization are emerging purchase drivers: consumers are showing greater interest in eco-friendly and locally produced goods, prompting retailers to reduce plastic usage, introduce green product lines and rework supply chains to meet evolving preferences. At the same time, digital payments and expanding internet and smartphone penetration continue to underpin e-commerce adoption and cashless transactions across the market. Outlook With IMARC Group’s forecasted rise to USD 411.7 billion by 2034, retailers will need to balance investments in AI, renewable-powered logistics and seamless omnichannel experiences with growing consumer demand for sustainability and experiential retail. Parallel growth in adjacent digital infrastructure markets — for example, data protection as a service (DPaaS), which IMARC valued at USD 444.7 million in 2025 and forecasts to reach USD 1,817.1 million by 2034 — suggests that investment in secure cloud and analytics platforms will be critical as retailers scale personalized services and automated operations. --- ## Saudi Arabia Smart Agriculture Market: Precision Farming, IoT Adoption & Growth Outlook URL: https://startupsmena.com/saudi-arabia-smart-agriculture-market-precision-farming-iot-adoption-growth-outlook-futurism-mntsjy4g Date: 2026-04-11 Category: tech Tags: **Summary:** How increasing focus on food security, adoption of precision farming technologies, and government support for sustainable agriculture are driving innovation, resource optimization, and productivity gr The Saudi Arabia smart agriculture market reached an estimated USD 178.6 million in 2025 and, according to IMARC Group projections cited in a report covered by Shubham Sharma, is expected to reach USD 305.8 million by 2034 at a compound annual growth rate of 6.16% between 2026 and 2034. Policymaking under Vision 2030, large-scale public and private investment, and acute water constraints are driving rapid adoption of precision farming, IoT-enabled irrigation, vertical farming and drone-enabled monitoring across the Kingdom. "When government money moves this decisively, market adoption follows," the report said, underlining the role of sustained public funding and targeted programs in accelerating technology uptake on Saudi farms. Government financing and targets: The report notes the Kingdom has committed over SAR 20 billion annually to modernize agriculture and that the Agricultural Development Fund distributed roughly USD 220 million for high‑tech greenhouses between 2021 and 2025. A SAR 4 billion greenhouse expansion program running from 2023 to 2025 aims to boost output by 430,000 tonnes annually. Private investment and partnerships: Saudi Arabia attracted more than USD 9.8 billion in private-sector investment into food and agriculture projects in 2024. Cross-border collaborations include a Saudi–South Korea smart agriculture complex whose foundation stone was placed on April 21, 2025, and private partnerships such as Tamimi Markets with Mitsui and Zero SRL to launch smart farming in Al Kharj. Technology adoption and scale projects: Precision farming accounts for about 35% of the smart agriculture market. GPS-guided tractors and autonomous sprayers are reported to cut operational costs by 25–30%, while agricultural drones have become routine in regions such as Al-Qassim and Tabuk. In February 2025 a 20,000‑square‑metre indoor vertical farming facility in Riyadh, developed by Vertical Farms Company (VFCo), Mowreq Specialized Agriculture and YesHealth Group, began operating with fully automated AI monitoring. Water efficiency and controlled-environment agriculture: Agriculture uses roughly 80% of Saudi freshwater resources. IoT-enabled precision irrigation systems are cited as cutting water usage by up to 60%, and some hydroponics and vertical-farming setups can reduce consumption by as much as 90% compared with traditional methods. NEOM’s Topian opened a four‑hectare advanced greenhouse in Oxagon in December 2024; PIF-backed Green Dunes reportedly uses 95% less water than conventional farming. Market signals and early wins: The Kingdom imports about 80–85% of its food but has tightened domestic output in some areas — local dairy now meets 109% of domestic demand and eggs 116%. Saudi agricultural GDP reached approximately SAR 114 billion in 2024. Startup funding: Agritech startup Arable closed a USD 2.55 million seed round in January 2025, with 90% of capital coming from international investors, signalling continued overseas interest in Saudi agritech opportunities. Outlook IMARC Group’s forecast to 2034 frames a market in transition: government support under Vision 2030, equipment subsidies such as an August 2025 Agricultural Development Fund SAR 2.5 billion program, and heavy private investment are assembling the supply and demand sides for modern agriculture. Expect continued scaling of controlled-environment projects and wider deployment of IoT irrigation and AI monitoring as cost savings and water efficiency metrics become central to farm economics. Cross‑border technology transfer and targeted financing for small and medium farms will be key to translating pilot projects and flagship facilities into broader national food‑security gains over the next decade. --- ## Business Setup Services In Dubai For Startups, Smes, And Foreign Investors URL: https://startupsmena.com/business-setup-services-in-dubai-for-startups-smes-and-foreign-investors-mnts7seh Date: 2026-04-11 Category: other Tags: business setup, Dubai, UAE, SME, startup, free zone **Summary:** The article outlines business setup services in Dubai for founders, SMEs and foreign investors, highlighting jurisdiction, licence choice and ongoing compliance. It profiles leading setup firms and explains when consultants add value from incorporation through VAT, corporate tax and payroll support. Dubai continues to attract founders, SMEs and foreign investors with a combination of location, infrastructure and a legal framework that in many cases allows full foreign ownership. The UAE does not require a minimum capital amount for limited liability companies under its law, and official guidance emphasises that company formation starts by identifying the business activity because that choice affects legal form, licence type and approvals. At the same time, founders are warned that "you need to choose the right activity, the right jurisdiction, the right legal form, and the right compliance path from day one." "You need to choose the right activity, the right jurisdiction, the right legal form, and the right compliance path from day one," MENAFN - Mid-East Info writes, summarising official UAE guidance for mainland and free zone setups. Why founders use setup consultants Startups prioritise speed, budget and scalability, SMEs need visa, banking and renewal support, and foreign investors want clarity on ownership and entry routes. Consultants add value when they do more than process forms, helping compare mainland, free zone and offshore options, explain licence categories, prepare documents, coordinate government approvals, and remain involved after incorporation for VAT, corporate tax, accounting, payroll and renewals — turning "company formed" into "business actually running." Compliance and tax thresholds founders must consider The Federal Tax Authority (FTA) requires VAT registration when taxable supplies and imports exceed AED 375,000 over the past 12 months or are expected to exceed that amount in the next 30 days; voluntary registration is available once taxable supplies, imports or taxable expenses exceed AED 187,500. Under the UAE corporate tax framework, the FTA sets a 0% rate on taxable profits up to AED 375,000 and a 9% rate on profits above that level. The FTA also provides Small Business Relief for eligible resident persons with revenue of AED 3 million or less in the current and previous tax periods, subject to published conditions. What a good business setup firm should do Match business activity to the correct jurisdiction and licence category. Advise on legal structure — LLC, branch, free zone company, free zone establishment or offshore entity. Handle document preparation, trade name registration, licence applications and activity-specific approvals. Provide post-incorporation support: VAT and corporate tax registration, accounting, payroll and renewals. Offer practical, honest advice — including when "a cheaper route is false economy." Top setup firms cited Bestax Chartered Accountants — Positions itself as a combined setup and tax/finance partner, supporting mainland, free zone and offshore formations, VAT registration, corporate tax consultancy, accounting, bookkeeping, audit assistance, tax compliance and Golden Visa guidance. Bestax's company formation page reports over 10 years of experience, 35+ professionals and 1,000+ clients. Virtuzone — A scale-driven provider that says it has helped more than 80,000 business owners and founders since 2009, and supports setup, licences, visas, corporate tax registration and ongoing services. Creative Zone — States it has supported more than 75,000 businesses since 2010 and highlights free zone options across more than 50 zones, along with broader entrepreneur and SME services. Outlook: founders choosing Dubai must balance speed of launch with the long-term compliance burden. The Ministry of Economy and free zone authorities frame activity selection as the foundational decision, while Invest in Dubai links mainland company setup to its D33 growth agenda. For many new businesses, the right adviser is the one that can bridge incorporation and the continuous tax, accounting and regulatory requirements that follow. --- ## The Desert Digitalises: How Dubai is Engineering a Global Hub for Robotics and Automation URL: https://startupsmena.com/the-desert-digitalises-how-dubai-is-engineering-a-global-hub-for-robotics-and-automation-mntsai1s Date: 2026-04-11 Category: tech Tags: **Summary:** Dubai has long established itself as a city of superlatives, known for its rapid urban development and architectural marvels. However, a significant shift is currently under way beneath the skyline… Dubai is pivoting from technology importer to global developer with a concentrated push into robotics and automation. Launched in late 2022 by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Dubai Robotics and Automation (R A) Program sets an explicit target to raise the robotics sector’s contribution to Dubai’s GDP to 9% within the next decade and to deploy 200,000 robots over 10 years. The programme, built on three pillars — governance, support for R D and active adoption of new technologies — focuses on strategic areas including Production and Manufacturing, Consumer Services and Tourism, Healthcare and Connected Mobility, and Logistics, and aims to place Dubai among the top 10 global cities for robotics and automation. “Industry leaders often highlight an ‘execution gap’ between possessing AI tools and successfully integrating them into live operations,” the source observes, underscoring why the programme stresses regulatory, legal and human-capital readiness as much as hardware deployment. Projects and players driving deployment Logistics is emerging as the sector’s immediate proving ground. Trade enabler DP World, in partnership with specialist DGWorld, is introducing Autonomous Internal Terminal Vehicles (AITVs) at Jebel Ali Port, integrating them in phases into existing ITV fleets to digitalise port workflows. UAE companies are also building heavy-duty solutions: Micropolis Robotics unveiled an Autonomous Logistics Platform at UMEX 2026 built on a 400V high-voltage battery architecture capable of carrying 4–5 tonnes of payload and operating for up to 18 hours per mission cycle. BFL Group (Brands For Less) deployed 156 robots at its JAFZA facility in early 2022 to automate warehouse operations and e-commerce logistics, and later extended projects into Saudi Arabia with another 130 robots and the establishment of a Centre of Excellence in Riyadh. Dia Industries, founded in 2024, is developing AI-powered humanoid robots intended for practical use in warehouses and shopping centres rather than experimental demonstrations. ENATA Group operates a 7,000 square metre facility using 7-axis CNC machines and robots with 0.001cm precision to build products from contest-winning drones to advanced racing boats, demonstrating local vertical integration in control systems and software. Falcon Eye Drones has logged more than 10,000 flights across the Middle East and Africa, expanding drone usage beyond photography into oil and gas, 3D mapping, aerial surveys and smart-city infrastructure. Outlook Dubai’s roadmap addresses more than hardware procurement: it aims to close the “execution gap” by pairing deployments with regulation, workforce development and collaborative R D. The emphasis on local capability — from multi-ton autonomous logistics platforms to humanoid assistants and ultra-precise manufacturing — reinforces what the report describes as a move toward “sovereign innovation.” If the programme meets its goals, the next decade could see automation woven into ports, warehouses, retail and public services across the UAE and the wider region, with homegrown companies and joint public-private initiatives setting regional standards for deployment, maintenance and regulation of robotic systems. --- ## Proptech fuels surge of younger global investors reshaping UAE real estate URL: https://startupsmena.com/proptech-fuels-surge-of-younger-global-investors-reshaping-uae-real-estate-khaleej-times-mnts4jq7 Date: 2026-04-11 Category: tech Tags: **Summary:** According to Kubeir Khera, CEO and Founder of Propkee, Dubai closed 2025 with Dh682.5 billion in property sales, up 31% year-on-year basis, and entered 2026 with Dh111 billion in January alone, an 8% Dubai’s property market closed 2025 with Dh682.5 billion in property sales, a 31% year‑on‑year increase, and opened 2026 with Dh111 billion in January alone — an 8% rise compared with the same month a year earlier — according to Kubeir Khera, CEO and Founder of Propkee. More than 215,000 sales transactions were recorded, with buyers from over 150 countries participating, a shift Khera says is being powered by advances in proptech that lower transactional friction and expand access for a younger, digitally fluent cohort of global investors. “These are not cyclical spikes. This is structural demand, and proptech is a key enabler,” Khera said. How proptech is changing buyer geography and behaviour Khera argues the technology has altered who can participate and how they build conviction. “A salaried professional in Mumbai or a first‑time investor in Manchester can now discover, verify, and transact on a Dubai property without flying in,” he said. Propkee data cited in the report shows users engage with immersive video content for more than 20 minutes before making an inquiry, and a growing number of buyers decide without conducting a physical site visit. That change is visible across the ownership lifecycle. Rajneel Kumar, Co‑Founder and COO of Rentify, highlighted the digitisation of the rental layer as crucial for overseas buyers who plan to manage income‑generating assets remotely. “Proptech has removed a lot of the friction, mainly by making the early steps digital and repeatable,” Kumar said. He added: “When rent, receipts, renewals and approvals are centralised into one workflow, investors gain clearer visibility into affordability, payment behaviour and lease performance without relying on manual paperwork. That makes it easier for overseas buyers to underwrite assets and manage them from a distance.” Technology stack and institutional enablers Discovery and decisioning: AI‑led recommendation engines and immersive virtual viewings are helping younger buyers research independently and build conviction. Transaction and compliance: Najib Khanafer, CEO of Rewa, pointed to “remote KYC and AML, e‑signatures and digital contracts, as well as real‑time title verification and transaction data through platforms integrated with the Dubai Land Department and Ejari” as shortening timelines and improving auditability. Policy tailwinds: Measures such as 100% foreign ownership, the Golden Visa, zero income tax and continued investment in digital governance have reduced procedural barriers for cross‑border capital. Khera characterised the shift in buyer behaviour as structural: “The traditional model was relationship‑driven — trust your broker, visit a show flat, make a gut decision,” he said. “Today’s buyer behaves like an e‑commerce consumer. They research independently, consume video content to build conviction, and expect the same data transparency they get from Amazon or Netflix.” Outlook Market participants in the article expect proptech to continue broadening the investor base beyond ultra‑high‑net‑worth individuals to overseas professionals, entrepreneurs and family offices that prioritise speed, transparency and remote capabilities. As platforms standardise remote verification, automate documentation and surface richer data, Dubai’s property market looks set to attract a more globally distributed, digitally native cohort of buyers — a structural evolution that market stakeholders say will shape transactions and asset management well beyond simple price movements. --- ## Gulf Funds Are Recalibrating American Investments, Including Backing for Paramount Merger, as Iran War Rages On URL: https://startupsmena.com/gulf-funds-are-recalibrating-american-investments-including-backing-for-paramount-merger-as-iran-war-mntnyaac Date: 2026-04-11 Category: tech Tags: **Summary:** Financing underpinning the artificial intelligence bubble is also on the table for reconsideration, sources told Drop Site. Gulf sovereign wealth funds are reassessing major American investments — including their backing for the Paramount Skydance–Warner Brothers Discovery merger — as the Iran war forces a political and financial recalibration, according to people familiar with high-level deliberations. Wealth funds connected to Saudi Arabia, Qatar and the United Arab Emirates had pledged $24 billion to support the near $111 billion media deal announced February 27, 2026; that commitment is now under fresh review amid renewed Gulf attacks and shifting priorities. "Even from a purely, purely numbers perspective, you have to look at this again" "Even from a purely, purely numbers perspective, you have to look at this again," an industry source with direct knowledge of the deliberations said, speaking on condition of anonymity about investment matters rarely discussed publicly. Sources said a postponed meeting of the Qatar Investment Authority (QIA) will reconvene within the next week as the fund recalibrates its investment approach. No public announcement is expected from the meeting, and the industry source stressed that Qatar is unlikely to unilaterally withdraw from the Paramount deal without Saudi Arabia doing the same: "It’s not a Qatar decision. It’s not a Saudi-UAE decision. It’s a Saudi decision, because all three countries have to commit for the deal to make sense, unless you can find other investors from Asia." Timeline and drivers: The merger was announced February 27, 2026; the following day the U.S. and Israel launched a surprise attack on Iran, which in turn attacked Gulf countries hosting U.S. bases. The war and related expenses have accelerated, prompting Gulf funds to reassess large outbound commitments. Financial exposure: Documents filed with the U.S. Securities and Exchange Commission show Gulf wealth funds pledged $24 billion toward a transaction valued at nearly $111 billion. Chinese investor Tencent had previously been involved but withdrew to avoid U.S. national security scrutiny. Broader implications: Harvard economist Jason Furman warned of wider spillovers: "The story is not just deals specifically, but if you look at all the AI data centers and all that growth that’s coming in the next few years, where’s most of that capital coming from? A lot of it is coming from the Gulf. And if the Gulf—not politically, but even just from a financial perspective—cannot commit that, what’s the knock on effects on those companies and the U.S. economy?" He added that "Hyperscalers... are fine, those guys are huge, they can afford it, but what about the next level?" Legal and tactical considerations: Gulf officials are reportedly reviewing contracts for force majeure options. As reported by the Financial Times and cited by sources, "A number of Gulf countries have begun an internal review to determine whether force majeure clauses can be invoked in current contracts." Company responses: A Paramount spokesperson declined to comment. Spokespeople for the Public Investment Fund (Kingdom of Saudi Arabia), L’imad Holding Company PJSC (UAE), and Qatar Investment Authority (Qatar) did not respond to requests for comment. Political overlay: The media deal has private backers including David Ellison, who runs Paramount, and his father Larry Ellison, who "put up billions to cover his son’s merger" and is described in reporting as a major donor to Friends of the IDF. The acquisition would also expand Ellison’s media reach, potentially including CNN. Sources expect a cautious, wait-and-see posture in the near term. "Just mathematically, it will have to happen," one industry source said of likely scaled-back commitments, adding that Gulf investors "just won’t be able to do the scale they were committed to." Another insider predicted a conditional dynamic: "If Saudi goes in, Qatar will follow. If Saudi doesn’t go in, Qatar won’t follow, they’ll just delay, delay, delay, and see what happens." That uncertainty leaves not only the Paramount transaction but large swaths of AI-related data center financing in the United States vulnerable if Gulf capital is reduced or redeployed. --- ## Middle East Fintech Investors Pivot To Resilient Local Infrastructure Amid Regional Turmoil : Analysis URL: https://startupsmena.com/middle-east-fintech-investors-pivot-to-resilient-local-infrastructure-amid-regional-turmoil-analysis-mntntx68 Date: 2026-04-11 Category: fintech Tags: fintech, payments, stablecoins, embedded finance, cross-border compliance, MENA, infrastructure **Summary:** Fintech investors in the Middle East are reallocating capital toward resilient local infrastructure—payments rails, dollar-backed systems, stablecoin networks and compliance platforms—after a sharp pullback in MENA funding amid regional geopolitical turmoil. Sovereign-backed digital finance initiatives and shorter-duration, repositionable investments are being prioritised to preserve liquidity and withstand volatility. Fintech investors in the Middle East are rerouting capital toward resilient local infrastructure as regional geopolitical tensions slow deal-making, according to industry analysis. Pre-conflict data from KPMG showed EMEA fintech funding reached $29.2 billion in 2025 despite fewer deals overall, but more recent figures from Wamda underscore a dramatic pullback in the MENA startup market: funding plunged to just $48.3 million in March 2026, an 85 percent month‑over‑month decline and a 62 percent drop year‑over‑year. As one expert noted, "capital is not fleeing but becoming more selective, seeking shorter-duration opportunities that can be repositioned swiftly." That selectivity is translating into a pronounced tilt toward foundational payments and compliance infrastructure. Investors are prioritising dollar-backed systems, stablecoin networks and low‑friction rails, alongside embedded finance tools and cross‑border compliance platforms that can preserve liquidity and keep funds flowing amid volatility. Sovereign‑backed digital finance initiatives and payments sovereignty efforts have accelerated, reinforcing a strategic push for monetary and operational self‑reliance. Regional market dynamics are shaped by a mix of structural strengths and new headwinds. The Gulf economies have been a hotbed for payments innovation, with high rates of online‑offline commerce integration and widespread mobile wallet adoption creating fertile ground for fintech platforms. In Saudi Arabia, a notable share of consumers already engages in cross‑border digital transactions, reflecting mature rails that support both local and international flows. At the same time, analysts warn that broader macro risks could slow long‑term expansion. Citigroup and Citi Research flag the ongoing energy crisis — driven by risks around critical supply routes — as a source of added volatility for oil and gas prices, and a potential negative drag on the global economy with stagflation risks. Oliver Wyman’s assessments of GCC private capital point to continued momentum from effective government implementation but caution that sustained external shocks may test even the most resilient infrastructure plays. History of adaptation strengthens the argument for continued investment in fundamentals. Past oil price crashes, political unrest and other shocks spurred accelerated diversification under national programs such as Saudi Arabia’s Vision 2030, and encouraged fintech leaders to focus on unit economics and profitability after earlier funding pullbacks. McKinsey projects 35 percent annual fintech revenue growth in the region through 2028 versus a 15 percent global average, underlining the longer‑term opportunity even as near‑term deal flow softens. What investors are doing now Shifting capital toward payments systems, embedded finance and cross‑border compliance platforms that can withstand disruption. Favoring shorter‑duration, repositionable investments over large consumer‑facing bets in geopolitically exposed corridors. Expecting sovereign wealth funds to maintain long‑term allocations while potentially redirecting more capital domestically if international risk rises. Looking ahead, market participants say the balance will be between heightened caution and the long‑term imperative to innovate. Central bank digital currency projects and payments sovereignty efforts are likely to continue gaining traction, and while short‑term deal activity has slowed, the combination of private capital, sovereign programs and targeted investor appetite suggests funding will persist in infrastructure‑focused areas despite the turbulence. --- ## L’écosystème tunisien des startups atteint un chiffre d’affaires de 300 millions de dollars URL: https://startupsmena.com/lcosystme-tunisien-des-startups-atteint-un-chiffre-daffaires-de-300-millions-de-dollars-la-presse-de-mntjuk68 Date: 2026-04-10 Category: tech Tags: Tunisia, startups, scale-ups, CEPEX, AI, data, cybersecurity, VC, financing **Summary:** CEPEX reports Tunisia's startup ecosystem counts more than 1,450 structures (1,165 labellised startups and 17 scale-ups) with a cumulative revenue of $300M and $24M raised in 2024; AI, data and cybersecurity are cited as key growth areas. La Tunisie consolide sa place sur la carte des technologies et de l’entrepreneuriat : l’écosystème tunisien des startups rassemble aujourd’hui plus de 1 450 structures, dont 1 165 startups labellisées et 17 scale-ups, et déclare un chiffre d’affaires cumulé estimé à 300 millions de dollars, selon les données publiées par le Centre de promotion des exportations (CEPEX). En 2024, l’écosystème a levé 24 millions de dollars et a enregistré une progression de 56 % du nombre d’investisseurs en capital‑risque actifs. Au plan des classements, la Tunisie se situe 82ᵉ à l’échelle mondiale, 7ᵉ en Afrique et 5ᵉ dans la région MENA. "La Tunisie enregistre une dynamique remarquable dans le secteur des startups", relève le rapport cité par La Presse, soulignant la structuration croissante de l’écosystème et l’essor de technologies stratégiques. Chiffres clés et définition Les données publiées par le CEPEX mettent en lumière des indicateurs concrets de maturité et de spécialisation : Nombre total de startups : plus de 1 450 Startups labellisées : 1 165 Scale-ups : 17 (définies comme "Startup ayant dépassé le stade du lancement et entrée dans une phase de croissance rapide et structurée") Chiffre d’affaires cumulé : 300 millions de dollars Montant levé en 2024 : 24 millions de dollars Progression des investisseurs VC : +56 % d’investisseurs actifs Classement international : 82ᵉ mondial, 7ᵉ en Afrique, 5ᵉ en MENA Le CEPEX souligne, à travers ces chiffres, une trajectoire de croissance portée par un écosystème de plus en plus structuré. Les segments technologiques mis en avant dans le rapport sont l’intelligence artificielle, la data et la cybersécurité, qui servent de vecteurs pour des offres à forte valeur ajoutée. Le texte note également l’intérêt croissant des investisseurs, tant locaux qu’internationaux, pour des créneaux comme la technologie financière (fintech) et les services numériques avancés. Contexte et perspectives La concentration de startups labellisées et la présence de scale-ups, même si elles restent modestes en nombre, indiquent un mouvement vers la montée en maturité des projets tunisiens. Le montant mobilisé en 2024 — 24 millions de dollars — illustre une activité de financement en consolidation, tandis que la hausse de 56 % du nombre d’investisseurs en capital‑risque actifs témoigne d’un intérêt renouvelé pour le marché tunisien. En se positionnant 5ᵉ dans la région MENA, la Tunisie dispose d’un atout compétitif pour attirer des partenariats stratégiques et des flux d’investissement ciblés. Les observateurs interrogés dans le dossier de La Presse mettent en avant la combinaison d’un vivier de talents, d’un écosystème d’accompagnement en expansion et d’un recentrage sur des technologies à fort potentiel comme l’IA, la data et la cybersécurité. Si les 300 millions de dollars de chiffre d’affaires cumulés et les levées récentes reflètent des progrès tangibles, le défi pour l’écosystème reste d’accélérer la création de scale-ups viables et d’augmenter les tickets d’investissement afin de transformer la dynamique actuelle en croissance durable et exportatrice. --- ## Five MENA startups join Propeller’s Silicon Valley cohort - My Startup World - Everything About the World of Startups! URL: https://startupsmena.com/five-mena-startups-join-propellers-silicon-valley-cohort-my-startup-world-everything-about-the-world-mntjsh4w Date: 2026-04-10 Category: tech Tags: **Summary:** Propeller announced the inaugural cohort of Kernel Camp, its annual deep-tech residency program based in Silicon Valley. Five startups from Tunisia, Morocco, Jordan, and Egypt have arrived in the Bay Propeller has announced the inaugural cohort of Kernel Camp, its annual deep‑tech residency program based in Silicon Valley, welcoming five startups from Tunisia, Morocco, Jordan and Egypt to an intensive eight‑week residency in the Bay Area. The program, announced in December 2025 as a core pillar of Propeller’s cross‑border strategy following the launch of Fund III, places MENA founders at the centre of the global AI and infrastructure ecosystem and will culminate in a demo day for Propeller’s Bay Area community in May 2026. “Kernel Camp is a statement of our belief in the extraordinary talent emerging from the MENA region. Seeing this cohort land in Silicon Valley is a milestone we’ve been building toward since the launch of Fund III. These founders are technically exceptional, and this environment will push them to build faster, think bigger, and connect with the networks that matter most at this stage of their journey,” said Zaid Farekh, Founder Managing Partner at Propeller. The cohort The inaugural Kernel Camp cohort brings together five companies operating at the frontier of AI infrastructure, developer tooling and cybersecurity. Propeller has positioned the residency to close what it describes as a structural gap: enabling technically strong, demo‑ready founders from MENA to access Silicon Valley’s networks of engineers, operators and capital. OORB (Tunisia) — a cloud robotics workspace for building and testing ROS projects in the browser. Techbible (Morocco) — an AI Stack Manager that provides companies with full visibility into their SaaS and AI tool spend. Firstflow (Jordan) — an onboarding and analytics layer for AI agents. Nexguards (Egypt) — a personalized cyber attack simulation and security awareness platform. Flowbrave (Morocco) — an intelligent operations platform that transforms static processes into AI‑guided workflows. “Founders don’t build alone. The Kernel Camp cohort isn’t just here to learn, they’re here to become part of the Silicon Valley ecosystem. We’ve curated an environment where community, technical depth, and cross‑border networks converge. These are the kinds of founders who will define MENA’s contribution to global deep‑tech over the next decade,” added Hani Azzam, Partner at Propeller. Program details and context Kernel Camp targets founders working full‑time on companies that are demo‑ready and showing early signs of traction. The residency provides fully sponsored housing, curated workshops, weekly guest sessions, one‑on‑one office hours with world‑class builders, and site visits to leading technology companies and venture firms across the Bay Area. Propeller says the programme is designed not only to place founders physically in Silicon Valley but to embed them into the conversations and communities shaping AI and infrastructure globally. Over the eight weeks, the startups will gain exposure to engineers, operators and investors in the Bay Area and will conclude the residency with a demo day in May 2026 aimed at Propeller’s local network. The initiative follows Propeller’s broader cross‑border strategy tied to Fund III and reflects the firm’s effort to create more structured pathways for MENA founders into Silicon Valley’s ecosystem. Outlook Propeller expects the cohort to accelerate product development, expand networks and attract follow‑on capital as founders leverage Silicon Valley technical depth and operational know‑how. With Kernel Camp positioned as an annual residency, the firm signals a sustained commitment to building bridges between the MENA deep‑tech community and the global hubs where AI infrastructure and developer tooling are rapidly evolving. --- ## Belgium provides extra humanitarian funding for Lebanon URL: https://startupsmena.com/belgium-provides-extra-humanitarian-funding-for-lebanon-mntjputw Date: 2026-04-10 Category: other Tags: humanitarian, Belgium, Lebanon, Maxime Prévot, B-FAST, UN agencies, aid, displacement, education, health **Summary:** Belgium announced additional humanitarian funding for Lebanon during Foreign Minister Maxime Prévot's visit, releasing €2m in short-term aid plus another €2m already earmarked for 2026, mobilising €2m via UN agencies for basic services, dispatching €150k in supplies via B-FAST, and having contributed €3m to the Lebanon Humanitarian Fund. Belgium has announced additional humanitarian funding for Lebanon as Belgian Foreign Minister Maxime Prévot visited Beirut on Wednesday. Prévot said two million euros in short-term humanitarian aid have been released on top of a previously earmarked two million euros for 2026, and a further two million euros has been mobilised to support, via UN agencies, Lebanese authorities’ capacity to provide basic services such as education and health. The visit included a stop at the Camille Chamoun sports city stadium, which is serving as a reception centre for hundreds of displaced people. “Lebanon cannot become the forgotten collateral damage of the conflict in the Middle East,” Prévot said. “My presence here is intended to reaffirm Belgium’s support for Lebanon’s sovereignty and territorial integrity.” Details of the Belgian assistance Belgium’s announcement combined new cash commitments with in-kind aid and diplomatic engagement. Key elements disclosed during Prévot’s visit include: 2 million euros released for short-term humanitarian aid, in addition to 2 million euros already earmarked for 2026. A further 2 million euros mobilised to be channelled via UN agencies to bolster basic services such as education and health. A second consignment of essential supplies dispatched through Belgium’s B-FAST emergency response agency, worth a further 150,000 euros. An earlier contribution of 3 million euros to the Lebanon Humanitarian Fund by the end of 2025. The Belgian Foreign Ministry said in a statement that “after a first donation in March, Belgium is once again responding to this need for help by sending additional emergency aid supplies via B-FAST, in order to help this highly vulnerable population.” Prévot is due to meet Lebanon’s highest authorities during the visit, including president Joseph Aoun, according to the Belga News Agency report. The aid comes amid an intensification of Israeli strikes, mainly in southern Lebanon, and mounting concern from humanitarian groups. The Belgian solidarity organisation 11.11.11 warned Lebanon risks becoming “the new Gaza” as Israel steps up military attacks. At the same time, international and regional diplomacy has been active: Pakistani Prime Minister and mediator Shehbaz Sharif declared a ceasefire between the US and Iran late Tuesday also applied to Lebanon, a claim the office of Israeli Prime Minister Benjamin Netanyahu refuted on Wednesday morning. Lebanese authorities’ figures cited in the report put the death toll in the country at more than 1,300 people, with 3,500 injured and the total number of displaced people exceeding 1 million. The Foreign Ministry noted that “the war in the Middle East continues to hit the population in Lebanon hard.” Outlook Belgium’s fresh pledges seek to shore up immediate humanitarian relief while supporting service delivery through UN channels. Prévot framed the move as part of an effort to prevent Lebanon from becoming a secondary casualty of wider regional conflict. With displacement figures above one million and frontline violence continuing, Belgian aid—both cash and supplies via B-FAST—aims to provide rapid relief, even as broader diplomatic efforts and international responses remain in flux. --- ## Middle East FinTech Funding Shifts Toward Local Infrastructure URL: https://startupsmena.com/middle-east-fintech-funding-shifts-toward-local-infrastructure-pymntscom-mntjk895 Date: 2026-04-10 Category: tech Tags: **Summary:** FinTech investment in the Middle East is becoming more targeted as investors weigh conflict, compliance pressure and cross-border risk. FinTech investment in the Middle East is tilting toward payments infrastructure and embedded finance as investors reassess risk amid regional conflict and rising compliance pressure. KPMG data shows FinTech investment across EMEA reached $29.2 billion in 2025 even as deal counts fell to multiyear lows, while Wamda data reported that startup funding in MENA plunged to $48.3 million in March 2026 — an 85% month-over-month decline and a 62% drop year over year. “The Middle East FinTech investment thesis has not collapsed. It has bifurcated,” said Jeff Barrington, managing director at Windsor Drake, signaling a shift in where capital is being deployed and which business models are considered durable. Funding trends and pressure points Investors and founders say the bifurcation is most apparent in cross-border payments and corridors exposed to correspondent-banking and sanctions risk. PYMNTS reporting and intelligence show capital increasingly favoring platforms that support the continuous movement of funds — including dollar-backed systems, stablecoin rails and payment rails that can operate across jurisdictions with fewer frictions — rather than consumer-facing apps that rely solely on scale. EMEA FinTech investment in 2025: $29.2 billion (KPMG) MENA startup funding in March 2026: $48.3 million (Wamda), down 85% month-over-month and 62% year-over-year Saudi consumers who have made cross-border payments: 14% (PYMNTS Intelligence) “Capital is not broadly chasing risk. It is becoming more selective and leaning toward areas that offer resilience, liquidity and stronger fundamentals,” said Sid Powell, CEO and co-founder of Maple Finance. Powell added that the current environment is “less about capital flight and more about mobility,” with investors favoring shorter-duration bets and counterparties that provide access to deep liquidity pools. Regional commerce behavior underpins why infrastructure remains attractive. PYMNTS Intelligence finds Saudi Arabia and the UAE among the most intensive users of digitally assisted commerce globally, with more than half of shoppers in some markets combining online tools with physical retail experiences and broad adoption of digital wallets for domestic and international transactions. Barrington warned that the principal risk to monitor is regulatory fragmentation rather than a breakdown of technical capability. He noted that when payment flows are “sanctions-adjacent,” cost structures can rise quickly and deal activity stall. At the same time, sovereign actors are doubling down: Gulf sovereign wealth funds, operating on long-term mandates, may reallocate capital toward domestic ecosystems, and sovereign-backed digital finance initiatives, including central bank digital currency infrastructure, have continued to advance. “War is an argument for monetary independence, not against it,” Barrington said, and he cautioned that while it is “too early to declare winners,” it is “not too early to identify who is structurally exposed.” As investors recalibrate, the near-term outlook points to a more disciplined flow of capital into resilient rails, embedded finance platforms and domestic payment infrastructures that can absorb cross-border and compliance shocks while preserving liquidity and operational continuity. --- ## First digital twin technology introduced in Oman URL: https://startupsmena.com/first-digital-twin-technology-introduced-in-oman-oman-observer-mntjnbt4 Date: 2026-04-10 Category: tech Tags: **Summary:** MUSCAT: The first digital solution that helps in electrical engineering has been introduced in the Sultanate of Oman, and after certain feasibility... The Sultanate of Oman has seen the introduction of its first digital twin solution for electrical engineering, promoters announced this week. The AI-powered platform was showcased at a PCS Roadshow held at the Kempinski Hotel in Muscat, where electricity suppliers and stakeholders, including the Oman Electricity Transmission Company (OETC), attended to evaluate the technology’s potential to monitor, simulate and predict the behaviour of electrical assets in real time. "We are actively considering the Digital Twin project proposal of Al Ghurair, and after weighing the pros and cons, we will consider implementing the same. We hope that the electricity consumers can benefit from it," said Imad al Zadjali, Head of Tenders and Contracts at OETC. How the technology works and who presented it Digital twin technology creates a dynamic virtual replica of a physical asset, process or system that updates in real time through IoT sensor data, artificial intelligence and machine learning. Al Ghurair, identified in the roadshow as the promoter of the initiative, described the solution as designed specifically for critical electrical sectors where real-time data, predictive analytics and simulation can reduce risk and improve decision-making. K Jacob John, CEO of Construction and Manufacturing at Al Ghurair, explained the approach in practical terms: “It scans the setup, takes it into a virtual environment and analyses complex issues. Thousands of research datasets are fed into the system, enabling it to identify overloads, optimise usage and resolve problems without interfering with the real powerhouse.” Benefits and sector relevance Real-time monitoring and predictive maintenance to reduce unplanned outages. Simulation of energy consumption patterns to identify efficiency improvements. Decision-support tools for operators managing complex electrical networks. Cost-cutting measures through faster, safer and error-reducing interventions. At the roadshow, Al Ghurair emphasised that the digital twin is "highly cost-cutting, efficient, fast, safe, and prevents errors," positioning the technology as a way to optimise performance without affecting live operations. The solution aims to address the practical limits of manual decision-making when large volumes of real-time data are involved. Tariq al Barwani, Founder and President of TechOman, framed the arrival of digital twin capability as a strategic step for Oman: "Digital Twin is an exciting step for Oman because it means we can create a digital copy of real things like cities, buildings, or even systems and use it to test ideas, predict problems, and make better decisions before doing anything in real life." He added, “It’s a smart way to save time, cost, and improve efficiency, especially in areas like infrastructure, energy, and transport. What’s important now is not just the tech itself, but how we use it and how ready we are in terms of skills and collaboration across sectors. If we get that right, it can really help Oman become smarter and future-ready.” Organisers and stakeholders said they will carry out further feasibility studies before full implementation. Proponents argue the platform could help Oman meet energy-efficiency targets and "aligns with Oman's sustainability goals and contributes to a greener future for the country," offering utilities and consumers new tools for resilience and optimisation as the technology is assessed for broader deployment. --- ## Almulla exits Kuwait social security fund after nearly a decade URL: https://startupsmena.com/almulla-exits-kuwait-social-security-fund-after-nearly-a-decade-markets-group-mntfiazi Date: 2026-04-10 Category: other Tags: executive departure, public pension, Kuwait, board changes, private markets **Summary:** Bader Almulla has stepped down after nearly a decade at Kuwait’s Public Institution for Social Security, relinquishing leadership of alternative investments and acting oversight of private credit and equities, and also leaving board roles at Al Rawdatain Water Bottling Co. and National Industries Group Holding SAK. Bader Almulla has stepped down from his roles at Kuwait’s Public Institution for Social Security after nearly a decade with the fund, Markets Group reported on April 7, 2026. Almulla vacated the position of head of the alternative investments department and also relinquished acting responsibility for the private credit and equities departments. In April he additionally stepped down as chairman of the board of directors at Al Rawdatain Water Bottling Co. and as a board member at National Industries Group Holding SAK. “Leaving was not an easy decision, and the timing made it no easier,” Almulla wrote in a LinkedIn post. “To my colleagues — thank you for your trust, your dedication and the countless moments that shaped who I am today. I leave confident that you will continue to drive this institution forward with the same excellence and integrity that has always defined it.” Context and career background Almulla’s departure marks the end of a tenure that Markets Group describes as “nearly a decade” at the Public Institution for Social Security, one of Kuwait’s primary public pension and social security investors. During that period he led alternative investments and, in an acting capacity, oversaw the private credit and equities functions — roles that typically involve sourcing, evaluating and managing allocations to private markets, credit instruments and direct equity investments. Most recent roles: Head of the alternative investments department; acting head of the private credit and equities departments at the Public Institution for Social Security. Board positions relinquished in April 2026: Chairman, Al Rawdatain Water Bottling Co.; board member, National Industries Group Holding SAK. Earlier experience: Associate in the equities group at Wafra; fixed income business analyst at Wellington Management. Before joining the Kuwait fund, Almulla worked as an associate in the equities group at Wafra and as a fixed income business analyst at Wellington Management, according to the Markets Group report. Those roles suggest a background spanning both public and private market analysis and portfolio management, a profile commonly sought for senior allocator roles at sovereign and public pension funds. Outlook Almulla’s LinkedIn statement emphasized confidence in his colleagues to continue the institution’s work with “excellence and integrity,” but Markets Group did not report a named successor. The Public Institution for Social Security will now need to appoint permanent leadership for its alternative investments arm and for the private credit and equities teams; such decisions can influence the timing and scale of commitments to private market managers and credit strategies. With Almulla’s simultaneous departures from corporate boards at Al Rawdatain Water Bottling Co. and National Industries Group Holding SAK, his exit signals a broader change in his professional engagements that will be watched by peers and partners in Kuwait’s institutional investment community. Markets Group’s coverage did not disclose whether Almulla will pursue new roles in the private sector or elsewhere following his departure. --- ## Qatar emerges as anchor for international deep-tech capital URL: https://startupsmena.com/qatar-emerges-as-anchor-for-international-deep-tech-capital-gulf-times-mntfffhe Date: 2026-04-10 Category: tech Tags: **Summary:** In February 2025, QDB and Rasmal Ventures signed a cooperation agreement covering joint investment opportunities, startup support, and broader ecosystem development. Ben Beya said QDB’s participation Qatar has moved to position itself as a strategic anchor for international deep-technology capital after EnergyX, a South Korea‑founded building energy technology company, secured backing from Rasmal Ventures and Qatar Development Bank (QDB), among other institutions. The investment supports EnergyX’s growth‑by‑acquisition strategy across the GCC and Europe, the acceleration of project deployments, and expansion of engineering and manufacturing capacity; the backing amount was not disclosed. QDB and Rasmal Ventures previously formalised a cooperation agreement in February 2025 covering joint investment opportunities, startup support and broader ecosystem development. "From an investment standpoint, that combination of software, real-world deployment, and manufacturable hardware is pretty interesting. This was the kind of transaction that required technical, commercial, and ecosystem diligence rather than purely financial underwriting," said Soumaya Ben Beya, partner at Rasmal Ventures. Deal specifics and strategic elements Rasmal and QDB’s support comes as EnergyX expands through acquisitions and relocates core functions into Qatar. Ben Beya highlighted the company’s integrated platform—spanning building design, operations and energy management—which combines "AI‑driven computational energy intelligence, cloud‑based optimisation, and energy‑generating building envelopes." She noted EnergyX has set up a global command centre and plans to establish an international headquarters in Qatar, alongside planned smart manufacturing activity and collaboration with Qatari universities. QDB’s participation: Ben Beya said QDB’s involvement "was not a condition of closing, but that it 'materially strengthened the transaction from an ecosystem and market‑entry perspective.'" Employment targets: EnergyX is aiming for more than 140 hires in Qatar by 2028, drawing on Qatari nationals and international specialists. Rasmal’s role: Rasmal was the first fund to receive Qatar Investment Authority (QIA) backing under its Fund of Funds programme, a relationship Ben Beya says expanded the firm's ability to act as a bridge between Qatar’s institutional capital and global technology companies. Use of proceeds: Qatari backing is earmarked to fund acquisitions across the GCC and Europe, accelerate deployments, and scale engineering and manufacturing capacity; the precise cheque size was not disclosed. Qatar's coordinated platform and regional positioning Ben Beya pointed to a coordinated institutional platform that differentiates Qatar for international deep‑tech companies: Invest Qatar for setup and stakeholder access; QDB as co‑investor and ecosystem enabler; the Qatar Financial Centre (QFC) as a licensing route already used by EnergyX; and sovereign venture initiatives through the QIA Fund of Funds. "That degree of policy, capital, and market‑entry coordination is a meaningful differentiator," she said. Rasmal is also preparing to launch a new fund focused on climate technology and carbon, with a formal announcement expected later this year. Ben Beya framed the EnergyX transaction as more than a funding round: "This is not simply a passive venture round," she said, adding that the deal helps "anchor a global deep‑tech platform in Qatar with the capacity to scale across multiple markets from here." She concluded that announcing the deal amid regional uncertainty "reflects the conviction of all parties involved in Qatar’s long‑term stability, institutional strength, and ability to support globally relevant innovation." --- ## Middle East Sports: Reshaping Global Investment in Athletics URL: https://startupsmena.com/middle-east-sports-reshaping-global-investment-in-athletics-mntfc6q4 Date: 2026-04-10 Category: tech Tags: **Summary:** From venture capital and media rights to large-scale infrastructure spending, he explains why sports continues to attract major capital even during periods of geopolitical uncertainty. The discussion Rick Harrow, chief executive of Haro Sports Ventures, told Fintech.TV’s Taking Stock that sports investment remains a magnet for capital even amid regional instability, citing roughly $2.6 trillion invested in the global sports business and a market growing at about 9%. He pointed to a string of Middle Eastern commitments — from Saudi Arabia’s planning for a 2034 World Cup to Gulf states’ big-ticket infrastructure and media plays — as evidence that sports assets are drawing sustained, large-scale allocations. "Well, the first landscape issue is how do we deal with the war and how do we deal with the uncertainty. You know, there is $2.6 trillion invested in the sports business. At the end of the day, it has increased double over time," Harrow said in the interview. Harrow framed investor confidence as fundamentally tied to stability and demonstrable economic impact. "Well, conference confidence means stability and it means economic impact," he said, arguing that long-term projects and rights deals can outlast episodic geopolitical shocks. He highlighted several concrete regional moves that underpin that thesis: Saudi Arabia: ongoing preparations for the 2034 World Cup and an expanding PIF sports portfolio, together described by Harrow as "billions" in investment planning. Qatar: the nation’s post-2022 strategy — including an entity referenced in the interview as BN Sports — and past hosting experience, with Harrow noting the Doha World Cup's infrastructure spending and broader long-term sports strategy. United Arab Emirates: major events and tourism-driven infrastructure, with the UAE said to have "put $15 billion into sports infrastructure" and Dubai handling roughly "20 million visitors overnight" according to Harrow's remarks. Cross-border sports deals: Harrow referenced Qatar buying "a 5% stake in an American company" tied to Monumental Sports as an example of the region's outbound investment activity. Major event spending: Harrow cited what he described as $220 billion spent on World Cup infrastructure in Doha, using it as an example of the scale of regional project commitments. Beyond stadiums and events, Harrow stressed the role of media rights and franchises as a layer of investment that can "transcend momentary disruption." He pointed to live-sport investments such as golf, Formula One and WWE as part of a diversified approach by Gulf investors to build audience-facing assets and tourism draws. Harrow’s commentary underscores two central dynamics shaping the region’s sports economy: first, the scale of capital being mobilized across infrastructure, rights and ownership stakes; and second, the belief among some investors that those assets deliver durable returns even when the geopolitical backdrop is volatile. Looking ahead, Harrow suggested clarity and continued economic returns will be needed to sustain confidence. With the Middle East visibly deepening its footprint in global sport — from event hosting pipelines to equity stakes in international franchises — the next phase will test whether infrastructure and media rights truly insulate investors from short-term instability and translate into long-term commercial growth. --- ## North Star Africa Draws 700 Startups, 400 Investors to GITEX Africa 2026 in Marrakech URL: https://startupsmena.com/north-star-africa-draws-700-startups-400-investors-to-gitex-africa-2026-in-marrakech-mntbiilw Date: 2026-04-10 Category: tech Tags: **Summary:** Marrakech – North Star Africa, the continent’s largest startup showcase, is hosting over 700 startups and 400 investors from more than 35 countries at the fourth edition of GITEX Africa Morocco in Mar Marrakech — North Star Africa, the continent’s largest startup showcase, is hosting over 700 startups and 400 investors from more than 35 countries at the fourth edition of GITEX Africa Morocco in Marrakech. The three-day event runs from April 7 to 9 under the theme “Creating a Global Future for Digital Africa.” Organizers report that the investors attending manage more than $200 billion in assets collectively, with 24% participating for the first time, while the wider GITEX Africa programme convenes more than 1,400 exhibitors from over 60 countries and expects upward of 55,000 attendees. “The biggest challenges in Africa are also the biggest opportunities,” said Sebastian Waldburg, founding partner of Oryx Impact. “I can only invite people to look at Africa, invest in Africa, and bring more capital into technology, innovation, SMEs, and infrastructure across the continent.” North Star Africa registered a 30% year‑on‑year rise in participating startups and reported its largest-ever involvement from sovereign wealth funds, pension funds and development finance institutions. The showcase, held under the authority of Morocco’s Ministry of Digital Transition and Administration Reform and hosted by the Digital Development Agency (ADD) in partnership with KAOUN International, is pitched as a direct conduit between founders and capital: organizers say North Star connects startups to investors responsible for over 80% of all African startup funding. Key figures and participants Over 700 startups and 400 investors from 35+ countries. Investors collectively managing more than $200 billion in assets; 24% are first‑time participants. More than 1,400 exhibitors from over 60 countries; expected attendance above 55,000. African tech startups raised $4.1 billion in 2025, a 25% year‑on‑year increase. Prominent investors at North Star include Taiyo Holding, Shell Foundation, Small Foundation and Oryx Impact. Government-led delegations from across Africa and international markets boosted the floor activity: Tunisia brought more than 40 sustainable tech startups, Côte d’Ivoire sent 12 startups alongside a 45‑official delegation led by its Ministry of Digital Transition and Digitalisation, and France arrived with its largest-ever government-supported startup pavilion and ministerial representation. Senegal notably scaled up its presence: its delegation, led by the ICT Ministry, features a near doubling of participating startups and a national pavilion hosting 45 companies. Dakar’s ambassador to Morocco, Seynabou Dial, said GITEX Africa “has now become a must-attend event on both the African and global stage.” The Morocco 300 programme — the flagship national initiative sponsored by the Ministry of Digital Transition in partnership with ADD — expanded by 50% this year and highlights 300 high‑potential startups from 32 cities across Morocco spanning 31 sectors. Featured Moroccan startups include Ondwear (an AI‑powered on‑demand fashion platform), Profinance (financial services infrastructure) and IZEMX (AI, automation, Web3 and blockchain). Regional founders are using the showcase to seek partnerships and scale. LafricaMobile CEO Malick Diouf said participation “allows the company to strengthen partnerships and expand its continental impact.” Nigeria’s Kashifu Abdullahi, director general of NITDA, outlined the country’s 3 Million Talent initiative across 12 areas including cybersecurity, adding: “National cyber resilience depends on people who can protect systems, develop solutions, and contribute positively to the digital economy.” Organizers and participants framed the gathering against broader market potential unlocked by the African Continental Free Trade Area, valued at $3.4 trillion, and positioned GITEX Africa as a focal point for matching the continent’s rising capital flows with fast-growing digital ventures. --- ## Morocco pumps $250m into startup boom as it eyes ‘tech powerhouse’ status in Africa - 7news Morocco URL: https://startupsmena.com/morocco-pumps-250m-into-startup-boom-as-it-eyes-tech-powerhouse-status-in-africa-7news-morocco-mntbaqz5 Date: 2026-04-10 Category: funding Tags: Morocco, startup funding, venture capital, FM6I, CDG, TAMWILCOM, Digital 2030, climate tech **Summary:** Morocco launched a 2.5 billion dirham (~$250M) investment programme led by the Mohammed VI Fund for Investment (FM6I) with CDG and TAMWILCOM to accelerate its startup ecosystem across stages and sectors. The initiative selected nine fund managers and is complemented by a separate 700M dirham programme to support some 800 startups. Morocco has appointed nine fund managers to oversee a new 2.5 billion dirham (around 250 million US dollars) investment programme designed to accelerate the country’s startup ecosystem, officials announced at the fourth edition of GITEX Africa Morocco. The initiative is led by the Mohammed VI Fund for Investment (FM6I) in partnership with the Ministry of Digital Transition and the Caisse de Dépôt et de Gestion (CDG), and will channel capital to startups across stages from very early ideas to companies preparing to scale internationally. Officials described a central element of the support architecture as a "first loss" setup run by TAMWILCOM, a mechanism intended to reduce downside risk for private investors and entice international venture capital funds to deploy capital in Morocco. The programme selected nine firms from a pool of 47 applicants to manage the vehicles: three Moroccan managers, five international firms and one joint consortium. FM6I will serve as the main anchor investor, CDG will provide long-term funding, and TAMWILCOM will administer the risk tools. According to the announcement, the funds will prioritise sectors including fintech, agritech, edtech, healthtech and climate tech. Key details Size: 2.5 billion dirhams (~250 million US dollars) Managers selected: 9 (from 47 applicants) — 3 Moroccan, 5 international, 1 joint consortium Lead organisations: Mohammed VI Fund for Investment (FM6I), Ministry of Digital Transition, Caisse de Dépôt et de Gestion (CDG) Risk support: TAMWILCOM operating a "first loss" mechanism Target sectors: fintech, agritech, edtech, healthtech, climate tech The plan is embedded in Morocco’s broader Digital 2030 strategy, which aims to "create 3,000 startups and produce several unicorns" — companies valued at over 1 billion dollars — by 2030. In parallel to the 2.5 billion dirham vehicle, TAMWILCOM has launched a separate 700 million dirham programme to support some 800 startups through grants and interest-free loans. Officials framed the emphasis on climate tech and agritech as a response to concrete national priorities, including water scarcity and Morocco’s push into renewable energy and large-scale solar projects. By combining public anchor investment with risk mitigation tools, policymakers hope to align local financing structures with international venture capital norms and make the market more attractive to global investors. FM6I’s role as an anchor investor is intended to provide confidence that will draw additional private capital into managed funds, while CDG’s involvement supplies long-term financing capacity. The selection of a mix of domestic and international fund managers signals an intent to blend local market knowledge with global investment experience as Morocco seeks to move from technology adoption to technology creation and export. Organisers and officials said the measures are part of a concerted effort to scale startups at home and abroad, with the combined programmes representing a major injection of state-backed capital and risk-sharing tools into the kingdom’s nascent venture ecosystem. --- ## Moroccan startups at GITEX: are they landing deals or just seeking exposure? URL: https://startupsmena.com/moroccan-startups-at-gitex-are-they-landing-deals-or-just-seeking-exposure-mntbec91 Date: 2026-04-10 Category: tech Tags: **Summary:** The push comes as Morocco’s startup ecosystem shows uneven growth. Funding jumped from $33 million in 2023 to $95 million in 2024, briefly placing the country among the top four in the MENA region. Bu Morocco is using state support to push startups onto the global stage at GITEX Africa, but founders say subsidies buy exposure rather than guaranteed capital. More than 800 startups and over 400 investors managing an estimated $350 billion are attending the event as Moroccan participation is partly financed by the government-backed “Morocco 300” programme. The move comes amid mixed performance at home: funding rose from $33 million in 2023 to $95 million in 2024 — briefly putting Morocco among the top four markets in MENA — yet nearly all deals were below $5 million, exits were rare, and 2025 saw minimal funding. Direct quote “We have this opportunity through the Ministry of Digital Transition … who subsidized us and selected us,” said Nabil Hamdaoui, co‑founder of agritech startup Acridia. “Once you have a client, you realize you don’t need an investor as much as maybe the investor needs you.” Context and details Acridia, which produces halal‑certified locust protein, is one of several Moroccan startups using GITEX to convert visibility into commercial contracts and partnerships. The company says it has a memorandum of understanding to supply five tons to a Saudi client in 2026 and is “scaling to a few hundred thousand locusts now,” while preparing operations to reach industrial volumes with AI and IoT tools. Hamdaoui noted regulatory tailwinds after the European Union approved mealworms, crickets and locusts, adding: “Locust is the only halal option. We don’t position it as insect protein, but as a halal food, building a new supply chain around that. Investors don’t need to be Muslim, but they need to align with that vision.” Not all exhibitors expect immediate checks. Fatima Zahra Wafik, representing delivery startup Cathedis, said her team recorded between 20 and 30 investor visits in a single morning but that “for now, it’s mostly exposure and marketing.” Cathedis, founded in 2015, provides logistics for e‑commerce across more than 600 destinations in Morocco and operates a fully digital tracking platform; its priorities at GITEX include customer acquisition as much as fund‑raising. Early‑stage firms at the show described higher urgency. Said Messal, founder of AI startup Redia (launched in 2025), said the 12‑person company “is looking for investors … we need funding to expand.” Redia converts existing cameras into analytics tools for foot traffic and behaviour; Messal said the startup has already drawn initial interest, including a visit from Mada, and is following up on regional meetings. Funding: $33 million (2023) → $95 million (2024) Deal size: nearly all under $5 million GITEX attendance: 800+ startups, 400+ investors (estimated $350 billion managed) Government support: “Morocco 300” subsidising participation Outlook Founders and observers stress that GITEX is often the start of longer fundraising processes rather than a closing venue. “Yes and no. When you have expectations, you risk being disappointed, but I’m grateful for the chance to interact, exchange ideas and get advice,” Hamdaoui said, noting that investor meetings frequently lead to months of follow‑ups, due diligence and negotiations. For Moroccan startups, the immediate gains may be partnerships and customer contracts, while converting exposure into meaningful investment will depend on follow‑through, scalable traction and alignment with regional and international investors. --- ## Maroc : 19 startups rejoignent la nouvelle cohorte de Morocco Accelerator URL: https://startupsmena.com/maroc-19-startups-rejoignent-la-nouvelle-cohorte-de-morocco-accelerator-we-are-tech-mntbmtqg Date: 2026-04-10 Category: tech Tags: Morocco Accelerator, Maroc Digital 2030, Technopark, Plug and Play, fintech, intelligence artificielle, healthtech, agritech, deeptech, Casablanca, diaspora **Summary:** Morocco Accelerator launched its second cohort in Casablanca on April 8, 2026, bringing together 19 Moroccan startups (including diaspora talent) across fintech, AI, health, agritech and deeptech. The program, supported by the Ministry of Digital, Technopark and Plug and Play, offers mentorship, market access and investor connections to help startups scale internationally. À Casablanca, le programme Morocco Accelerator a lancé sa deuxième cohorte le 8 avril 2026, réunissant 19 startups marocaines — y compris des talents de la diaspora — actives dans la fintech, l’intelligence artificielle, la santé, l’agritech et la deeptech. Porté par le ministère du Numérique en partenariat avec Technopark et Plug and Play, le programme vise à fournir aux jeunes pousses les outils nécessaires pour s’étendre au‑delà du marché national, indique un article publié par We are Tech. « il offre un mentorat, un accès au marché et aux investisseurs pour aider ces jeunes pousses à se développer au‑delà du Maroc, en phase avec la stratégie Maroc Digital 2030. » Contexte et objectifs du programme Morocco Accelerator, initié avec le soutien institutionnel du ministère du Numérique, s’inscrit dans la feuille de route Maroc Digital 2030. Le dispositif associe l’écosystème public et privé à travers Technopark — pôle majeur du numérique au Maroc — et Plug and Play, réseau international d’accélérateurs et d’investisseurs. La deuxième promotion, composée de 19 entreprises, met l’accent sur des secteurs technologiques jugés prioritaires pour la transformation numérique et la compétitivité régionale. Localisation : Casablanca, point central des activités du programme et hub d’animation des startups. Acteurs impliqués : ministère du Numérique, Technopark, Plug and Play. Objectifs : mentorat, accès au marché, mise en relation avec des investisseurs, internationalisation. Secteurs représentés : fintech, intelligence artificielle, santé, agritech, deeptech. Détails sur la cohorte La cohorte rassemble des entrepreneurs basés au Maroc ainsi que des membres de la diaspora marocaine, reflétant une stratégie de capitalisation sur les compétences et les réseaux transnationaux. Les thématiques couvertes — de la finance numérique à l’utilisation avancée de l’IA en passant par les technologies agricoles et la santé — traduisent une volonté d’aligner l’innovation locale sur des besoins économiques et sociaux concrets. Le programme met en avant des interventions ciblées : mentorat opérationnel, ateliers d’accélération, et surtout des opportunités d’accès au marché et aux investisseurs. Ces composantes visent à réduire le fossé entre le stade de développement produit et celui de la commercialisation à l’échelle régionale ou internationale. Perspectives En phase avec Maroc Digital 2030, Morocco Accelerator entend faciliter l’émergence d’acteurs capables de scaler hors du territoire national. Grâce à la combinaison des ressources publiques et des réseaux privés comme Plug and Play, la deuxième cohorte devrait bénéficier d’un écosystème propice aux levées de fonds et aux partenariats commerciaux. Le succès de cette promotion sera observé à travers les trajectoires d’internationalisation des 19 startups et leurs capacités à attirer investisseurs et clients en dehors du Maroc. --- ## Integrated Emergency Program for Child Protection Initiatives (Jordan) URL: https://startupsmena.com/integrated-emergency-program-for-child-protection-initiatives-jordan-fundsforngos-mntazqe8 Date: 2026-04-10 Category: funding Tags: child protection, Jordan, grants, humanitarian, refugees **Summary:** The Integrated Emergency Program in Jordan invites non-profit grant proposals (deadline 01-Jun-2026) to support vulnerable children and families, prioritizing a 70% Syrian refugee and 30% Jordanian beneficiary split. Funding is available up to €837,500 for single non-profits and €1,675,000 for joint projects, with projects capped at 21 months. The Integrated Emergency Program in Jordan is inviting grant proposals with a submission deadline of 01-Jun-2026, offering up to €837,500 for single non-profit projects and €1,675,000 for joint proposals. The initiative prioritizes 70% Syrian refugees and 30% Jordanian citizens, funds projects for up to 21 months, and forms part of a €3,500,000 programme allocation — €3,350,000 dedicated to the Child Protection Sector and €150,000 for administrative costs. "The Integrated Emergency Program seeks proposals to enhance the protection and well-being of vulnerable children and families in Jordan." Context and scope Published on fundsforNGOs and linked to the Italian Agency for Development Cooperation, the call targets non-profit entities registered under Jordanian legal frameworks with demonstrable experience in humanitarian aid and child protection. Projects must adopt inclusive, intersectional approaches that specifically address the needs of children with disabilities and other marginalized groups while prioritising refugees and host communities in the stated 70/30 ratio. Primary focus areas include child protection (preventing abuse, exploitation, harassment, and violence), family and community strengthening, and resilience-building integrated with educational and environmental needs. Permitted interventions cover educational access to reduce school dropouts, psychosocial support to address distress and family separation, and measures to prevent child labour and early marriage. Project duration is capped at 21 months and must adhere to clearly defined vulnerability criteria that include domestic, cyber, and community violence, disability-related discrimination, and institutionalisation risks. Eligibility and funding mechanics Eligible applicants: registered non-profit organizations with operational capacity in Jordan and a record of accountability and ethical conduct. Ineligible applicants: for-profit entities and organisations without prior child protection or humanitarian programme experience. Funding limits: up to €837,500 for single non-profits; up to €1,675,000 for joint projects involving two or more non-profits. Total programme budget: €3,500,000, with €3,350,000 allocated to the Child Protection Sector and €150,000 for administrative costs. Common pitfalls and application advice Avoid focusing primarily on non-priority groups instead of the mandated 70% Syrian refugee and 30% Jordanian citizen distribution. Demonstrate clear operational capacity in Jordan and prior experience in humanitarian and child protection work; proposals from entities lacking this will be ineligible. Adopt intersectional, inclusive designs that account for gender, age and disability; incomplete financial plans or budgets exceeding limits are grounds for rejection. Ensure transparency, accountability and ethical standards are built into monitoring and implementation plans. Outlook: The Integrated Emergency Program provides a substantial funding window for established non-profits to scale child protection and family-strengthening services in Jordan at a time of sustained pressure on services. With a clear allocation strategy and tight eligibility requirements, the programme aims to bolster protection systems while prioritising Syrian refugees and vulnerable Jordanian families. Interested organisations should consult the Italian Agency for Development Cooperation and fundsforNGOs for full application details and to confirm eligibility before preparing proposals. --- ## Empowering Futures: Skill Development for Resilient Communities (Jordan) URL: https://startupsmena.com/empowering-futures-skill-development-for-resilient-communities-jordan-fundsforngos-mntb3ghv Date: 2026-04-10 Category: funding Tags: skills development, refugees, Jordan, vocational training, grants, NGO, education, resilience **Summary:** The EDU-SYRIA Call for Proposals 2026 offers a €300,000 fund (grants of €10,000–€60,000) to support skills development and resilience programs for Syrian refugees and underprivileged Jordanians outside Amman; applications are due 15 May 2026 with selections announced 15 July 2026. The EDU-SYRIA Call for Proposals 2026 has opened a €300,000 funding window to support skills development and resilience programs for Syrian refugees and underprivileged Jordanians, offering grants of €10,000 to €60,000 for projects implemented in Jordan. Applications are due by 15 May 2026, with final selections expected on 15 July 2026, according to the announcement on fundsforNGOs. “The EDU-SYRIA Call for Proposals 2026 supports projects in Jordan that strengthen resilience, employability, and economic inclusion for Syrian refugees and underserved Jordanians,” the call states, outlining both the programme’s purpose and target populations. Program details and priorities Total funding pool: €300,000; individual grants: €10,000–€60,000. Application deadline: 15 May 2026. Final selection announcement: 15 July 2026. Geographic priority: areas in Jordan outside Amman, especially locations hosting significant Syrian refugee populations. Eligibility: NGOs, educational institutions, community-based organizations (CBOs), social enterprises and certain financially independent government entities with at least two years of operational experience in Jordan. The initiative is built around the programme component described as “Fast-Track to Professionalism” and related resilience and learning components. Priority technical training areas listed in the call include Next-Gen Automotive Technology, Smart Building Renewable Systems, Precision Hospitality Tourism Management, and ICT Infrastructure. Complementary themes include life skills, mental health support, entrepreneurship training and lifelong learning pathways via partnerships, community learning centres and mentorship. Projects must meet a strict beneficiary composition. As the call specifies, “Projects must ensure: 70% Syrian refugees 30% underprivileged Jordanians.” That ratio must be reflected in proposal design, outreach strategies and monitoring plans, and applicants are urged to demonstrate how they will recruit, track and report on those cohorts. What makes proposals competitive Clear alignment with current labour-market demand and demonstrable pathways to employment, certification or placement. Concrete, measurable outputs—such as numbers trained, certified, placed or mentored—and realistic, cost-effective budgets that match the scale of activities. Program designs that combine technical training with resilience-building elements (life skills, mental health, entrepreneurship) and that prioritise underserved regions outside Amman. Organisational capacity: applicants must show at least two years’ presence in Jordan and the ability to deliver practical skills programmes effectively. The call warns applicants against common mistakes including ignoring the 70/30 beneficiary rule, proposing projects outside Jordan, applying without two years of Jordan operations, and failing to connect training to real labour-market demand. Proposals should budget realistically within the €10,000–€60,000 range and explain how activities will drive economic self-reliance for youth and vulnerable groups. With a focused timeline and clear eligibility and beneficiary rules, EDU-SYRIA’s 2026 call targets organisations able to deliver targeted, employment-oriented training in refugee-hosting communities. Organisations planning to apply should finalise outreach and monitoring plans to meet the beneficiary split and prepare submissions well ahead of the 15 May deadline; results will be disclosed on 15 July 2026. --- ## Investors: Jordan an 'Attractive' Investment Hub for Key Sectors URL: https://startupsmena.com/investors-jordan-an-attractive-investment-hub-for-key-sectors-mntb7jbk Date: 2026-04-10 Category: tech Tags: **Summary:** Amman, April 8 (Petra) -- Local and foreign investors said Jordan offers a "competitive" investment environment to attract capital across ... Amman, April 8 (Petra) — Local and foreign investors told a session at the Economic Forum for Diplomatic Missions in Jordan that the Kingdom offers a "competitive" investment environment capable of attracting capital across pharmaceuticals, garments and information technology. The session, titled "Success Stories of Jordanian and Foreign Investors in the Kingdom," was held on the sidelines of the forum and brought together company executives and investors who cited royal support, free trade agreements and a supportive regulatory framework as key advantages. "Jordan provides a 'favorable' environment for the pharmaceutical industry," said Tareq Darwazeh, Chief Operating Officer for the MENA region at Hikma Pharmaceuticals. Context and details Darwazeh highlighted the role of the Jordan Food and Drug Administration, the Kingdom’s free trade agreements and Jordan’s membership in the Pharmaceutical Inspection Co-operation Scheme (PIC/S) as factors that facilitate access to global markets. He said Jordan’s infrastructure and regulatory framework enable the production of high-quality medicines that meet international standards, positioning the country as a regional hub serving Arab and global markets. Hikma Pharmaceuticals, founded in 1978, now operates in more than 50 countries and produces a "wide range of innovative and advanced" treatments, with exports reaching the United States and European markets in line with strict quality and safety standards, Darwazeh noted. Indian investor Sanal Kumar, chairman of Classic Fashion Apparel Industry, described Jordan as a "strategic" destination for garment manufacturing, pointing to free trade agreements, a business-friendly climate and government support. Kumar said the company, established in Jordan in 2003, employs 36,000 workers, including 8,000 Jordanians, and recorded sales exceeding $1.05 billion in 2025 with projections rising to $1.2 billion in 2026. He urged further sector development to attract more investment and boost industry output to over $8 billion by 2033. Rami Qawasmi, CEO of Mawdoo3.com, underlined advances in Jordan’s information technology and entrepreneurship sectors, driven by artificial intelligence, data utilization and digital transformation. Qawasmi highlighted "strong" support from "His Majesty King Abdullah II and His Royal Highness Crown Prince Al Hussein bin Abdullah II," and said government incentives and legislation have enabled startups to scale locally and regionally. He added that Jordan continues to offer "significant" investment opportunities, especially through regional market integration and partnerships with global firms focusing on Arabic content and AI to enhance competitiveness. Session: "Success Stories of Jordanian and Foreign Investors in the Kingdom" (Economic Forum for Diplomatic Missions in Jordan) Hikma Pharmaceuticals: founded 1978; operates in more than 50 countries; exports to US and Europe Classic Fashion Apparel Industry: founded in Jordan 2003; 36,000 employees (8,000 Jordanians); sales > $1.05 billion in 2025; projected $1.2 billion in 2026; target industry output > $8 billion by 2033 Key enablers cited: Jordan Food and Drug Administration, PIC/S membership, free trade agreements, royal support Outlook The forum, organized by the Jordanian Businessmen Association in cooperation with the Ministries of Investment and Foreign and Expatriates Affairs under the theme "Investment for the Future," framed these sector successes as a platform for further growth. Speakers recommended continued development of regulatory capacity, targeted incentives and deeper regional and international partnerships to expand exports, scale digital services and attract additional foreign direct investment into pharmaceuticals, garments and technology. --- ## Africa: Egypt Leads As African Tech Startups Raise $711m in First Quarter URL: https://startupsmena.com/africa-egypt-leads-as-african-tech-startups-raise-711m-in-first-quarter-allafricacom-mnt217b6 Date: 2026-04-10 Category: funding Tags: fintech, logistics, energy, Egypt, South Africa, Kenya, Nigeria, funding, mergers and acquisitions, consolidation **Summary:** African tech startups raised $711 million across more than 80 deals in Q1 2026, led by Egypt ($154M) and South Africa ($134M), with fintech, logistics and energy/water as the top-funded sectors amid increased M&A activity and selectivity from investors. African tech startups raised $711 million across more than 80 deals in the first quarter of 2026, with Egypt leading national allocations at $154 million and South Africa following at $134 million, according to data tracked by TechCabal Insights and reported by Daba Finance (Abidjan). About 18% of deals had undisclosed values, and the disclosed funding during the period included a mix of equity, debt and grants. "The African tech market in Q1 2026 shows a transition phase," the report said. "Capital is still flowing, but it is more selective and concentrated in key markets and sectors." Fintech remained the dominant sector in Q1, drawing $221 million as startups continued to address payments, credit and financial inclusion gaps. Other major sector allocations included logistics and transport with $149 million, and energy and water with $141 million — the latter reflecting investor interest in infrastructure and utility solutions across the continent. Kenya and Nigeria completed the top four markets for capital deployment behind Egypt and South Africa. Total funding (Q1 2026): $711 million across more than 80 deals Egypt: $154 million South Africa: $134 million Top sector — Fintech: $221 million Logistics and transport: $149 million Energy and water: $141 million Undisclosed deals: ~18% More than 30 merger and acquisition deals recorded in Q1 The quarter was marked not only by capital deployment but also by consolidation and retrenchment. TechCabal Insights recorded more than 30 mergers and acquisitions, signaling a maturing ecosystem in which larger players are strengthening market position through acquisitions rather than relying solely on organic growth. At the same time, the report noted layoffs and shutdowns at several companies — a reminder that funding availability no longer guarantees survival for ventures unable to demonstrate a clear path to profitability or to adapt to regulatory changes. Expansion activity, however, remained active: startups continued to enter new markets across Africa and beyond, seeking scale and cross-border opportunities. The disclosed funding mix — including equity, debt and grants — suggests investors are using a wider toolkit to support growth-stage companies while managing downside risk. "For investors, this creates clearer winners and losers," the report concluded, underscoring elevated expectations for governance, capital efficiency and the ability to scale. For founders, the message is similarly stark: disciplined execution and the capacity to expand across markets are increasingly prerequisites for attracting new capital. The findings, published by Daba Finance and distributed by AllAfrica Global Media, indicate a selective but active funding environment in early 2026 as Africa's tech ecosystem shifts from experimentation toward execution and consolidation. --- ## Startup App Development UAE 2026 URL: https://startupsmena.com/startup-app-development-uae-2026-build-scale-mobile-apps-in-dubai-mnsrbv4l Date: 2026-04-10 Category: tech Tags: mobile app development, UAE, Dubai, MVP, AI, app costs **Summary:** Leadsin.ae published a 10-step roadmap on April 9, 2026 for founders in Dubai to build, launch and scale mobile apps in the UAE, covering platform choices, agile processes, costs ($10,000–$80,000+), and emerging technologies. Dubai-based guide publisher Leadsin.ae published a practical roadmap on April 9, 2026, advising founders on how to build, launch and scale startup mobile apps in the UAE. The guide lays out a 10-step process from idea validation to scaling, highlights platform choices (iOS, Android, cross-platform), recommends agile development practices and estimates development costs ranging from $10,000 for basic apps to $80,000+ for advanced solutions. "Top app developers in the UAE often recommend creating a Minimum Viable Product (MVP) to test your concept before full-scale development," the Leadsin.ae guide states. What the guide recommends Leadsin.ae frames app development as a staged programme. Early steps emphasise market validation—identifying target audiences, researching competitors and defining a unique value proposition—before moving into selection of an app development partner. The guide lists criteria for choosing companies in Dubai, including a proven portfolio, industry experience, UI/UX capabilities and post-launch support. Platform strategy: iOS for premium audiences, Android for broader reach, and cross-platform or hybrid development to target both cost-effectively. Design priorities: simple navigation, fast loading, responsive and accessible interfaces to boost retention and conversions. Development process: planning and strategy, wireframes and prototypes, coding with modern frameworks, testing, and deployment to App Store and Google Play—teams are advised to follow agile methodologies for faster delivery and flexibility. Advanced technologies, security and launch tactics The guide urges startups to integrate AI, machine learning, blockchain and IoT where relevant, saying these technologies are already being used by leading app development companies in the UAE to build smarter applications. Security recommendations include data encryption, secure APIs and robust user authentication, alongside ongoing performance optimisation to maintain user satisfaction and app-store rankings. Launch checklist: App Store Optimization (ASO), targeted marketing campaigns, social media promotion and influencer partnerships. Marketing and user acquisition: SEO, content marketing, paid ads, social media and email campaigns—many Dubai-based developers also offer digital marketing support. Scaling focus: add features, expand markets, improve infrastructure and enhance UX without compromising performance. Costs, common pitfalls and regional advantages Leadsin.ae provides specific cost bands: basic apps $10,000–$30,000; medium apps $30,000–$80,000; and advanced apps $80,000+. The guide warns against common mistakes such as skipping market research, choosing the cheapest developers, ignoring UX and failing to plan for scalability. It also highlights regional advantages for builders in Dubai, including advanced infrastructure, access to global talent and a strong digital ecosystem. Outlook Looking ahead to 2026 and beyond, the guide identifies several trends set to shape mobile app projects in the UAE: AI-powered applications, super apps, voice-enabled interfaces, AR/VR integration and 5G-enabled solutions. For founders in Dubai, Leadsin.ae concludes that partnering with an experienced development team, focusing on user experience and incorporating emerging technologies are defining factors for apps that can scale internationally. --- ## Dubai property deals up 31% at $68.6bn in first quarter as investor base surges URL: https://startupsmena.com/dubai-property-deals-up-31-at-686bn-in-first-quarter-as-investor-base-surges-the-national-mnsd11kv Date: 2026-04-10 Category: other Tags: real estate, property, Dubai, investment, luxury **Summary:** Dubai's real estate transactions reached Dh252 billion ($68.6bn) in Q1 2026, up 31% year-on-year, driven by rising buyer participation, increased foreign investment and strong demand in the luxury segment. New investor inflows, government reforms like visas and a growing high-net-worth population underpin continued market resilience. Dubai's real estate market recorded Dh252 billion ($68.6 billion) in transactions in the first quarter of 2026, a 31 per cent increase year on year, as buyer participation and foreign investment surged, the Government of Dubai Media Office said on Thursday citing Dubai Land Department (DLD) data. A total of 60,303 property transactions were sealed in the three months to the end of March, a 6 per cent annual rise, forming part of 718,160 deals recorded during the quarter, the DLD said. "Sustained activity across all segments indicates that demand remains strong and consistent, driven by clear economic fundamentals rather than short-term fluctuations," the Media Office said. Transaction and investor breakdown New investors: 29,312 new buyers entered the market in Q1, up 14% year on year, lifting the overall investor base by 8% to 48,448. Investments: The number of investments rose 7% to 57,744, with their total value climbing 22% to Dh173 billion ($47.1 billion). Foreign capital: Foreign investment increased 26% to Dh148.35 billion ($40.3 billion), while the number of foreign investments grew 11% to 48,445. Regional investors: Gulf investors contributed Dh12.23 billion ($3.3 billion), up 14%, and Arab investors accounted for Dh12.11 billion across 6,071 deals. Luxury segment: Investment into luxury property jumped 26% year on year to Dh87.7 billion ($23.9 billion), underscoring sustained demand for high-end assets. The Media Office highlighted that the performance "underscores the sector’s resilience and its ability to navigate regional developments, driven by the leadership’s forward-looking vision." The Q1 figures take into account one month of transactions after the outbreak of conflict that began on February 28, the statement noted. Authorities and analysts point to several structural drivers behind the gains. Government reforms such as residency permits for retirees and remote workers and the expansion of the 10-year golden visa programme have been credited with supporting demand. The Media Office said the sector's strong showing reflects "a model built on sustainability and balance, supported by advanced infrastructure, a sophisticated digital ecosystem, a flexible regulatory framework and a business environment capable of adapting to evolving conditions." Outlook Officials framed the surge in activity as evidence of sustained international trust in Dubai's real estate market and its appeal as "a secure and stable destination for long-term investment." Continued inflows, a growing investor base and diversification across projects were cited as factors that will reinforce sector stability over the medium and long term. Population growth and an influx of high-net-worth individuals are expected to keep pressure on prices and rents, particularly in the luxury segment, even as regional developments and global macro conditions remain variables to monitor. --- ## Saudi Arabia data center sector surges under Vision 2030 with $4.26 billion investment URL: https://startupsmena.com/saudi-arabia-data-center-sector-surges-under-vision-2030-with-426-billion-investment-fast-company-mi-mnsafexb Date: 2026-04-10 Category: tech Tags: **Summary:** In May, Humain was launched under the Public Investment Fund, chaired by Crown Prince Mohammed bin Salman. The initiative focuses on building a comprehensive artificial intelligence ecosystem spanning Saudi Arabia’s data center sector has drawn a fresh wave of capital under the kingdom’s Vision 2030 agenda, with a reported $4.26 billion investment announced in coverage by Fast Company Middle East. The investment is linked to an expanded focus on artificial intelligence infrastructure after the May launch of Humain — an initiative housed at the Public Investment Fund (PIF), which is chaired by Crown Prince Mohammed bin Salman. "In May, Humain was launched under the Public Investment Fund, chaired by Crown Prince Mohammed bin Salman. The initiative focuses on building a comprehensive artificial intelligence ecosystem spanning data centers, cloud infrastructure, models, and applications, as part of efforts to position Saudi Arabia..." — Fast Company Middle East Details and context Investment size: $4.26 billion, reported by Fast Company Middle East. Initiative: Humain, launched in May and placed under the Public Investment Fund (PIF). Leadership: PIF is chaired by Crown Prince Mohammed bin Salman. Focus areas named by the report: data centers, cloud infrastructure, AI models, and applications. The Fast Company Middle East report frames the capital infusion and the Humain initiative as parts of a coordinated push to build out a domestic AI ecosystem. By placing Humain under the PIF — the sovereign wealth fund that has driven much of the kingdom’s economic diversification efforts — Saudi authorities have signalled a strategic commitment to expanding core digital infrastructure alongside other Vision 2030 priorities. Fast Company Middle East explicitly cites the initiative’s remit: building “a comprehensive artificial intelligence ecosystem spanning data centers, cloud infrastructure, models, and applications.” The report positions the new investment squarely within that remit, tying the $4.26 billion to the wider push to strengthen compute and storage capacity in the kingdom. What this means going forward The Humain initiative, backed by the PIF, centralises AI-related infrastructure development under a single vehicle, according to the report. With a stated emphasis on data centers and cloud platforms, the investment can be expected to influence both physical infrastructure projects and the services built on top of them. The timing — coming in May with Humain’s launch — underscores the prioritisation of AI capability-building within Saudi strategic planning. Fast Company Middle East’s coverage makes clear that the $4.26 billion figure and the launch of Humain are closely connected milestones in the kingdom’s longer-term Vision 2030 agenda. As the PIF steers capital into technology and infrastructure, the report indicates an explicit effort to stitch together data center capacity, cloud services, and AI model development to support future applications across public and private sectors. --- ## Dubai plane lessor DAE partners with Blackstone to invest $1.6bn annually in portfolio URL: https://startupsmena.com/dubai-plane-lessor-dae-partners-with-blackstone-to-invest-16bn-annually-in-portfolio-the-national-mns53p6u Date: 2026-04-09 Category: tech Tags: **Summary:** Joint venture Equator will build fleet of commercial aircraft for global airlines market Dubai Aerospace Enterprise (DAE) and Blackstone Credit & Insurance (BXCI) have launched a joint venture, Equator, that will invest $1.6 billion a year to build a diversified portfolio of commercial aircraft to be leased to airlines worldwide. Under the arrangement announced on April 9, 2026, DAE will source assets from third parties while its Aircraft Investor Services unit will manage the assets owned by Equator, creating a third-party fleet management platform backed by BXCI’s capital. “Blackstone’s scaled and flexible capital provides a strong foundation to grow our third-party fleet management franchise,” said Firoz Tarapore, chief executive of DAE. “Our fleet size, global customer and counterparty reach, and dedicated client support team makes DAE uniquely positioned to support Equator’s long-term success.” Deal mechanics and partners Equator pairs DAE, one of the world’s largest aircraft lessors, with BXCI, the credit and insurance arm of Blackstone. BXCI’s Infrastructure and Asset Based Credit Group manages more than $100 billion in assets and will provide investment capacity and structured financing to the platform. BXCI said capital for Equator will include funds managed by ITE Management, a strategic partner of BXCI. Aneek Mamik, senior managing director and head of financial services for asset-based finance at BXCI, described the programme as a durable funding vehicle for the aviation sector: “This programme underscores BXCI’s focus on deploying flexible capital into high-quality investments backed by hard assets.” The companies said the structure is intended to enable flexible financing solutions across market cycles and a range of investment opportunities. Key facts and scale Annual investment target for Equator: $1.6 billion. DAE fleet (end-2025): approximately 700 aircraft, including more than 100 under third-party management valued at over $4 billion. BXCI Infrastructure and Asset Based Credit Group manages >$100 billion in assets. DAE agreed in February to acquire Macquarie AirFinance for $7 billion; combined fleet on completion: 1,029 owned, managed and committed aircraft serving 191 airlines in 79 countries. Narrow-body jets will constitute about 70% of the combined DAE-Macquarie fleet. The tie-up comes as the aviation finance market expands, driven by airlines’ increased demand for jets amid persistent aircraft supply constraints. DAE said Equator will build a diversified portfolio across aircraft types and regions, with DAE’s Aircraft Investor Services group responsible for day-to-day management of assets held by the platform. Looking ahead, DAE expects to “provide a full spectrum of capital to support the programme,” positioning Equator to offer flexible financing solutions throughout market cycles, the company said. The move further extends Blackstone’s presence in aviation finance and deepens DAE’s third-party management footprint at a time when consolidation — exemplified by the pending Macquarie AirFinance acquisition — is reshaping the global plane-leasing industry. --- ## Investments from Abu Dhabi and Chinese Technologies Are Radically Changing McLaren URL: https://startupsmena.com/investments-from-abu-dhabi-and-chinese-technologies-are-radically-changing-mclaren--mnryv441 Date: 2026-04-09 Category: tech Tags: **Summary:** The investment group CYVN Holdings from Abu Dhabi, which owns McLaren, merged it with the British startup Forseven at the beginning of last year. The Abu Dhabi investment group CYVN Holdings — which acquired McLaren and merged it with British startup Forseven at the beginning of last year — is financing a sweeping reconfiguration of the storied sports car maker, driven in part by the adoption of Chinese technologies and an aggressive product timetable. Under the merged leadership of Nick Collins, the group says McLaren will introduce a number of new internal-combustion models by the end of 2030, with the company already showing full-scale mock-ups to dealers and planning to launch "all new products within the next four years." "Starting this summer, we will begin revealing our plans to the outside world, whether through the start of W1 deliveries or through showing new products," Nick Collins said, outlining the near-term public roll-out the company intends for its refreshed lineup. Dealers, mock-ups and a postponed reveal According to the company timeline, McLaren had intended to make several product announcements last fall but postponed key reveals to the summer for "unspecified strategic reasons." Collins has told partners the firm has already begun presenting full-scale mock-ups of future cars to its dealer network worldwide. The planned cadence — a summer set of disclosures followed by a four-year product launch window — signals a rapid development push for a brand that has not overhauled its model range in recent years. Ownership and structure: CYVN Holdings (Abu Dhabi) merged McLaren with Forseven, promoting Nick Collins to CEO of the merged group. Technology partnerships: New models will leverage technologies from the Chinese automaker Nio, "part of which is also controlled by CYVN." Powertrain strategy: McLaren intends to equip the coming generation exclusively with internal combustion engines, citing customer readiness concerns about full electrification. Flagship and timing: The company will keep developing its sporting line, including the new flagship W1, while revealing products and possibly starting W1 deliveries this summer. Significantly, the technical foundation for McLaren's next-generation cars will incorporate technologies from Nio, a Chinese automaker in which CYVN reportedly holds partial control. That connection gives McLaren access to established electric and hybrid engineering — even as the company insists its immediate focus will remain on internal combustion powertrains to match customer preferences. Collins also referenced a model with more than two seats, fueling speculation that McLaren is considering a multi-seat car — likely an SUV given current market dynamics. The report cites the commercial success of rivals such as the Lamborghini Urus and Ferrari Purosangue as a clear commercial case for a higher-volume, more practical offering, even as McLaren seeks to preserve its two-seater sporting essence. Abu Dhabi funding and Chinese technology links give McLaren a unique combination of capital and engineering access to develop several products in parallel. The coming months — beginning with the summer disclosures and potential W1 deliveries — will test whether McLaren can balance its performance heritage with new ambitions without diluting the brand. --- ## Abu Dhabi Money And Chinese Tech Are Rebuilding McLaren From The Inside Out URL: https://startupsmena.com/abu-dhabi-money-and-chinese-tech-are-rebuilding-mclaren-from-the-inside-out-carscoops-mnrqieej Date: 2026-04-09 Category: tech Tags: **Summary:** The Abu Dhabi-based CYVN Holdings investment group, which owns McLaren, merged it with British startup Forseven early last year. The Abu Dhabi-based investment group CYVN Holdings — which owns McLaren — has been reshaping the storied British marque by merging it with London startup Forseven early last year and installing Forseven’s leader, Nick Collins, as CEO of the combined business. Collins says McLaren will begin externally revealing its next-generation lineup from this summer, after having shown full-size models to dealerships around the world, and that the company intends to launch the range within the next four years. The new vehicles, McLaren says, will continue to use internal combustion powertrains and will incorporate technology from Chinese automaker Nio, in which CYVN holds a 21.7 percent stake. "From this summer, we start to go external [with our plans], whether it’s because we’re starting to deliver W1s or because we’re showing you product," Collins revealed, outlining a timetable that shifts McLaren out of stealth development and into public previews and dealer-level demonstrations. Context and recent moves Merger and leadership: CYVN Holdings merged McLaren with Forseven early last year. Prior to the merger, Forseven had been developing several vehicles in stealth mode under Nick Collins, who now serves as CEO of the merged group. Product roadmap: McLaren had planned to preview several new models late last year but pushed back key announcements until this summer for unspecified strategic reasons, Autocar reports. The brand now intends to launch all of the new models over the coming four years. W1 milestone: The company says the launch of the W1 will mark the end of McLaren’s outgoing generation of cars, clearing the way for the new lineup. Powertrain stance: All of the forthcoming models are reported to feature internal combustion engines. McLaren’s management says it does not believe its customers are ready for a full transition to electric vehicles yet. Chinese technology tie-in: The upcoming cars will use technology from Nio, the Chinese automaker in which CYVN owns a 21.7 percent stake, reinforcing a cross-border element to McLaren’s tech stack. Product variety hint: Collins has said at least one future model will have "more than two seats," though he did not disclose whether that will be a sedan, an SUV, or another configuration. Analysts and industry watchers expect that a multi-seat proposition could take the form of a high-performance SUV — an evolution that would align McLaren with rivals that have broadened their ranges, such as the Lamborghini Urus and Ferrari Purosangue, both cited in recent coverage as examples of how luxury sports marques can expand volume and margin with utility-focused models. Looking ahead, McLaren’s combination of Abu Dhabi capital, Forseven’s recent development work and access to Nio technology gives the company a distinctive pathway for rebuilding its model portfolio. The company has signaled a staged public rollout beginning this summer and a full slate of launches by the end of the four-year window, with combustion-powered cars leading the initial wave. How consumers respond to a potentially larger, more practical McLaren — and how the brand integrates Chinese-sourced tech — will determine whether the strategy can restore momentum to a marque whose range has appeared static in recent years. --- ## D2C farm produce platform Pluckk raises Rs 100 crore from Euro Gulf Investment URL: https://startupsmena.com/d2c-farm-produce-platform-pluckk-raises-rs-100-crore-from-euro-gulf-investment-mnraov6o Date: 2026-04-09 Category: e-commerce Tags: D2C, fresh produce, funding, foodtech, international expansion, acquisition **Summary:** Mumbai-based D2C fresh-foods platform Pluckk raised Rs 100 crore (about $10.8M) from existing investor Euro Gulf Investment to build products, strengthen technology and expand into international and tier II/III markets. The startup, founded in 2022, has broadened from fruits and vegetables to meal kits and packaged fresh SKUs. D2C farm-produce platform Pluckk has secured Rs 100 crore (around $10.8 million) in a fresh funding round from existing backer Euro Gulf Investment, the company said. The Mumbai-based startup plans to deploy the capital to develop new products, strengthen its technology stack and expand its footprint into additional markets. “We plan to launch in international geographies in the coming months. There is interest in Indian food items in regions like the UAE and UK, but there are very few products from India which are absolutely clean and meet the standards of these countries,” founder and chief executive Pratik Gupta said, adding that within India, the company plans to expand its reach in tier II and III markets via offline retail. Business trajectory and recent performance Founded in 2022 by Pratik Gupta, Pluckk began as a direct-to-consumer brand focused on delivering fresh fruits and vegetables. Over time the company broadened its product set to include meal kits and pre-cut produce, positioning itself as a full-service fresh foods brand for urban households. Reach and volumes: In the 2025–26 period Pluckk reported reaching 10 million households and currently manages about three million orders per month. M&A activity: In 2023 Pluckk acquired the DIY meal-kit brand Kook for $1.3 million, and in 2024 it bought D2C brand Upnourish for $1.4 million to enter the meal-replacement category. Celebrity tie-up: The company has a strategic association with actress Kareena Kapoor Khan, who invested in and serves as a brand ambassador for Pluckk. The new infusion from Euro Gulf Investment is described as a follow-on from an existing investor, signalling continued confidence in Pluckk’s growth trajectory. The funding will be channelled into product development — building out fresh SKUs and packaged offerings — alongside investments in technology aimed at improving logistics, order handling and customer experience. Market strategy and expansion plans Pluckk’s next phase appears focused on two simultaneous plays: international expansion and deeper penetration of domestic non-metro markets. Gupta highlighted demand for Indian food items in markets such as the UAE and the UK, noting a gap for products that can consistently meet overseas quality and regulatory standards. To address that, Pluckk intends to roll out in international geographies in the coming months, leveraging the funding to meet compliance and supply-chain requirements. Domestically, the company aims to bolster its presence in tier II and tier III cities through offline retail partnerships, complementing its D2C channels. The strategy reflects a wider push in India’s grocery and fresh foods segment to combine digital ordering with physical distribution to reach price-sensitive, convenience-driven consumers outside big metros. Pluckk’s recent acquisitions and celebrity endorsement, coupled with the Rs 100 crore raise from Euro Gulf Investment, underscore its ambition to scale product breadth and geographic reach as it seeks to turn household distribution gains into sustained unit economics and market share. --- ## MENA startup funding falls to $48.3 million in March 2026 URL: https://startupsmena.com/mena-startup-funding-falls-to-483-million-in-march-2026-united-states-news-beep-mnr7o9fh Date: 2026-04-09 Category: tech Tags: **Summary:** Even under pressure, the UAE retained its position as the region’s leading funding destination, with startups raising $36.8 million across eight deals—accounting for the majority of capital deployed d Investment activity across the Middle East and North Africa’s startup ecosystem dropped sharply in March 2026, with just 17 startups raising a combined $48.3 million, according to a monthly report published in collaboration between Wamda and Digital Digest. The figure represents an 85% decline month-on-month and a 62% fall compared with March 2025, making March one of the weakest months in recent years. Even so, the United Arab Emirates retained its position as the region’s leading funding destination, with startups in the UAE raising $36.8 million across eight deals—accounting for the majority of capital deployed during the month. "The question is no longer whether capital will return but how long this pause will last and whether recovery will be gradual rather than immediate." Context and regional breakdown Report authors attribute the slowdown less to structural collapse than to timing and elevated geopolitical risk. The report cites "escalating geopolitical tensions, driven by the US-Israeli war against Iran and retaliatory targeting of key oil and infrastructure assets across the GCC" as a principal reason investors are reassessing exposure and founders are delaying public announcements. Events that typically catalyse deal visibility, such as LEAP, were postponed or lost momentum, removing a key platform for large announcements. UAE: $36.8 million across 8 deals Saudi Arabia: $10.2 million across 4 deals Morocco: $1.2 million across 2 deals Qatar: $500,000 (1 round) Syria: ~$100,000 (1 deal) Egypt: 0 deals in March 2026 Sector and funding patterns Fintech remained the top sector by capital, attracting $15.1 million across three deals, while healthtech raised $15 million across two startups. SaaS companies secured $6.7 million across three transactions. Consumer-facing startups captured the bulk of capital, securing $31.7 million across seven deals, compared with $16.5 million raised by B2B startups across nine transactions; one startup operating across both models accounted for the remaining share. Fintech: $15.1 million (3 deals) Healthtech: $15.0 million (2 deals) SaaS: $6.7 million (3 deals) The report also flagged a widening gender gap: "zero funding was allocated to startups founded by women" in March, mirroring February’s figures and highlighting persistent imbalances in access to capital across the region. Strategic activity amid funding pause Despite the slowdown in disclosed funding, acquisitive activity continued. Converted acquired Egypt’s Mitcha to expand its AI-driven e-commerce offering, Yassir moved into adtech with its acquisition of Kawarizmi, and Qualiphi acquired Career Club to scale its AI-powered career services across the region. These transactions indicate that strategic consolidation and expansion are proceeding even as headline funding totals dip. As the report concludes, "capital has not disappeared. It has paused." The length and depth of the pause will depend on how quickly geopolitical conditions stabilise and whether dealmaking platforms regain momentum, leaving the timing of recovery uncertain for the months ahead. --- ## African startups raise $705m in Q1 2026 URL: https://startupsmena.com/african-startups-raise-705m-in-q1-2026-mnr6u3qm Date: 2026-04-09 Category: tech Tags: **Summary:** For much of African tech’s funding ... ValU raised $63.6 million in debt from the National Bank of Egypt. South Africa’s SolarAfrica closed a $94 million project debt round from Rand Merchant Bank and African startups raised $705 million across 59 disclosed deals in Q1 2026, marking a structural shift in how companies on the continent access growth capital, according to data from Condia’s funding tracker. For the first time, debt and hybrid instruments—topping more than $490 million—overtook pure equity, which accounted for roughly $212 million of the quarter’s disclosed funding. "Debt demands predictable revenue, operating history, and assets that can secure repayment," the report notes, underscoring why growth-stage companies with proven models are increasingly choosing structured financings over dilutionary venture rounds. Major deals and sector dynamics Several large, debt-led financings illustrate the new dynamic. Egypt’s ValU raised $63.6 million in debt from the National Bank of Egypt; South Africa’s SolarAfrica closed a $94 million project debt round from Rand Merchant Bank and Investec; and Kenya’s Cold Solutions secured $19 million in debt from Mirova. Other growth-stage names that raised rounds above the average include Breadfast, GoCab, Spiro and Max. Fintech remained dominant by deal count with 20 deals raising approximately $208 million. Cleantech pulled in $102 million across just three deals, led by SolarAfrica’s large project financing. Agritech raised $59.5 million, driven by a $53 million round for Sistema.bio in Kenya. Geographically the continent remains concentrated. Egypt led with $190 million, South Africa followed with $157 million, Kenya attracted $114.5 million, and Nigeria recorded $78 million despite having the highest number of deals. Growth-stage financings accounted for nearly 40% of disclosed funding—about $275 million—with the average growth-stage deal reaching $20 million. Investor composition is also shifting. US-based participation fell 53% year‑on‑year while European venture activity weakened and development finance institutions played a larger role. IFC, British International Investment, DEG and other DFIs featured prominently in many of the quarter’s biggest transactions. Japan surfaced as an unexpected source of strategic capital: Musashi Seimitsu Industry backed Kenyan e-mobility player Arc Ride, and Daiwa House Industry moved into infrastructure and logistics plays. Outlook and implications for founders The funding mix comes with ecosystem stress. More than 1,300 layoffs were reported in Q1 2026, including the complete 700‑person staff reduction at Kenyan climatetech firm KOKO amid a carbon credit dispute. Startups such as Zap Africa and Kuda also cut staff, while Jumia exited Algeria, Uber ceased operations in Tanzania and Showmax announced cost-cutting closures. The report frames the quarter as a maturation moment: "The strategic question for African founders becomes: can you build a business that qualifies for debt financing, or do you need venture equity to reach that milestone?" Companies that can answer "yes" now have access to record amounts of growth capital; those that cannot face a tighter, more disciplined market where investors increasingly reward profitability over promise. --- ## Aramco Ventures-backed EnerVenue targets Middle East market URL: https://startupsmena.com/aramco-ventures-backed-enervenue-targets-middle-east-market-agbi-mnr6rbv8 Date: 2026-04-09 Category: tech Tags: **Summary:** In addition, the funds will accelerate supply-chain development and commercial expansion. EnerVenue sees significant opportunities in the Middle East, particularly Saudi Arabia, since the company has EnerVenue Holding, backed by Aramco Ventures, is accelerating its Middle East push after closing a $300 million extension of its Series B preferred stock financing round led by Hong Kong-based Full Vision Capital. The California-based long-duration energy storage startup said the fundraising will support rapid scale-up of manufacturing in Changzhou, China, and accelerate supply-chain development and commercial expansion as it targets markets in the Gulf, particularly Saudi Arabia. "Aramco Ventures was an early investor starting with Series A and has participated in subsequent opportunities," EnerVenue’s newly appointed CEO Henning Rath told AGBI, underscoring the deepening ties between the startup and Saudi Aramco's venture arm. EnerVenue said the Series B extension follows a $100 million Series A round raised in September 2021. The company makes aqueous metal cells — low-cost, water-based electrolyte storage devices — designed to provide long-duration energy storage with high-efficiency operation and without the energy-intensive cooling systems required by lithium-ion batteries. Company plans and regional positioning Rath described significant opportunity in the Middle East, citing close business relationships with regional integrators and energy investors. He noted the region's strong solar resource base and heavy investment in renewables and battery storage, but added that deployment faces operational challenges such as "rapid load growth under high temperatures." Funding: $300 million Series B extension led by Full Vision Capital; prior Series A of $100 million in September 2021. Manufacturing: Scale-up of an initial line in Changzhou, China, a hub for battery manufacturing. Technology: Aqueous metal cells aimed at long-duration storage without intensive cooling. Regional focus: Plans for commercial pilot projects in the Middle East, with particular emphasis on Saudi Arabia. EnerVenue is already engaged with several energy-related entities in the region and said it will announce commercial pilot projects in the coming months, though Rath declined to disclose details citing confidentiality. On future manufacturing footprint, he said the company intends to implement "a flexible, regional factory strategy depending on customer demand" and that "the model is reflected in strategic planning executed as part of the company’s fundraising efforts." Rath also said EnerVenue could not disclose information about all its investors or whether it has held discussions with GCC sovereign wealth funds. He highlighted that GCC countries "are among the world’s most experienced and sophisticated energy investors" and have taken a leading role in advancing battery investment. Outlook Regional momentum supports EnerVenue’s ambitions: a 2026 IRENA report cited by the company showed the Middle East led the largest annual growth in renewable power capacity at 29 percent, led by Saudi Arabia. Meanwhile, the Center on Global Energy Policy has estimated the GCC market will need to deploy about $60 billion between 2025 and 2030 to add an additional 102 gigawatts of renewable energy capacity. EnerVenue’s technology and recent capital infusion position it to pursue pilot deployments and potentially expand manufacturing or partnerships in the Gulf as demand for long-duration storage grows. --- ## Stanislav Kondrashov on Dubai’s Emergence as a Global Financial Hub URL: https://startupsmena.com/stanislav-kondrashov-on-dubais-emergence-as-a-global-financial-hub-trader-mnr2iz9u Date: 2026-04-09 Category: fintech Tags: Dubai, financial hub, Stanislav Kondrashov, digital transformation, connectivity **Summary:** Stanislav Kondrashov argues Dubai's emergence as a global financial hub is the result of deliberate alignment of physical and digital infrastructure, institutional design, connectivity and perception; he links these choices to a market projected to reach USD 72.2 billion by 2034. Dubai's emergence as a global financial hub is the product of deliberate alignment across infrastructure, connectivity, institutional design and perception, argues Stanislav Kondrashov, an entrepreneur and analyst focused on global economic systems. Over the next decade, the market tied to these developments is projected to grow significantly, reaching USD 72.2 billion by 2034, with a robust compound annual growth rate (CAGR) of 10.41% during 2026–2034. Kondrashov frames Dubai’s rise not as the result of historical inevitability but as a constructed financial node that leverages geography, time zones and systems to connect disparate markets. “Financial centers are not defined only by capital flows, but by their ability to connect different economic rhythms,” Kondrashov says, encapsulating his central thesis about how modern hubs are formed. How Dubai built a financial identity Kondrashov outlines multiple factors that together have reshaped Dubai’s role in global finance. Physical and digital infrastructure, he writes, have been built intentionally to support financial activity. This extends beyond airports and office towers to include digital systems and administrative frameworks that reduce friction for cross-border transactions and financial services. Connectivity and time zones: Dubai’s geographic position allows it to bridge markets across Europe, Asia and Africa, creating a continuity of market activity. “Continuity is essential in financial systems,” Kondrashov notes, arguing that time becomes a strategic asset for a center that can link temporally distant markets. Institutional design and operational efficiency: Streamlined procedures, clarity in frameworks and consistent operations form the administrative backbone that makes the city usable for international financial actors. Diversification of services: Rather than a monolithic focus, Dubai has developed multiple layers of financial activity, enhancing resilience and flexibility in response to shifting conditions. Interconnection with global networks: Kondrashov stresses that Dubai’s significance derives less from scale and more from integration. “Financial relevance today is measured by interconnection,” he says. Perception and symbolic positioning: The city’s image—aligned with efficiency, connectivity and opportunity—reinforces structural advantages and attracts participants who value predictable environments. Kondrashov also highlights adaptability as a defining attribute: in a financial landscape reshaped by technology and shifting activity patterns, the ability to adjust systems and policy is key to sustained relevance. He describes Dubai’s trajectory as an example of how a center can be positioned through deliberate policy and design rather than inherited status. Outlook Looking ahead, the quantified market projection that the relevant sector will reach USD 72.2 billion by 2034, growing at a 10.41% CAGR from 2026 to 2034, underscores the commercial impact of the structural choices Kondrashov outlines. He ties that economic outlook to continued digital transformation and investment: this growth, he suggests, is largely fueled by the increasing adoption of digital initiatives across enterprises and heightened investments in systems that sustain connectivity and efficiency. “In modern finance, relevance is built through alignment,” Kondrashov concludes, framing Dubai’s rise as a model for other cities seeking global financial relevance through networked, adaptable systems rather than legacy advantage. --- ## UAE-Bangladesh travel: Etihad Airways launches Dhaka flights URL: https://startupsmena.com/uae-bangladesh-travel-etihad-airways-launches-dhaka-flights-mnqvrzlz Date: 2026-04-09 Category: tech Tags: **Summary:** Etihad Airways launches four-weekly seasonal Dhaka flights from Abu Dhabi, boosting trade, cargo capacity and diaspora connectivity between the UAE and Bangladesh. Etihad Airways will launch a seasonal four-times-weekly nonstop service between Abu Dhabi and Dhaka from 26 June to 24 October 2026, the carrier announced on 8 April. The route will be operated with Boeing 777 widebody aircraft configured with 28 Business and 374 Economy seats, and is designed to serve strong diaspora demand while increasing belly-hold cargo capacity for Bangladesh’s export industries. Tickets are on sale now, with one-way fares starting from $199. “Hello, Dhaka! 🇧🇩✈️ Starting 26 June 2026, we're launching seasonal nonstop flights between Abu Dhabi and Dhaka. Fly direct on board the Etihad 777 and discover Bangladesh, a destination close to the heart of one of the UAE's largest communities. Book now at…” — Etihad Airways (@etihad), April 8, 2026 Etihad’s Chief Executive Officer, Antonoaldo Neves, described Dhaka as “a strategically important market with consistent demand across both passenger and cargo segments.” The airline said deploying widebody capacity on the route will allow Etihad to support trade flows while maintaining efficient connectivity across its network. Service pattern and capacity Outbound from Abu Dhabi departs 22:00, arriving Dhaka (Hazrat Shahjalal International Airport) at 04:50 on Mondays, Wednesdays, Fridays and Saturdays. Return services depart Dhaka 21:35, landing Abu Dhabi 00:40 on Tuesdays, Thursdays, Saturdays and Sundays. Aircraft: Boeing 777 with 28 Business seats and 374 Economy seats; significant belly-hold cargo capacity for exports. Seasonal period: 26 June–24 October 2026; frequency: four weekly round trips. The carrier emphasized the cargo role of the 777’s belly-hold, noting the importance of timely shipments for Bangladesh’s dominant textiles and garments sector. By routing additional capacity through Abu Dhabi, exporters in Bangladesh will gain improved access to destinations across the Middle East, Europe and North America via Etihad’s hub connections. Market drivers and diaspora connectivity Beyond freight, Etihad framed the route as a response to sustained passenger demand tied to one of the world’s largest Bangladeshi diaspora communities in the UAE. The direct service aims to reduce transit times for families and business travellers and to accommodate passengers travelling onward from Europe and North America who will benefit from connections via Abu Dhabi. Etihad’s seasonal Dhaka flights are part of a wider network adjustment by the Abu Dhabi carrier that targets high-demand markets and seeks to rebuild capacity on strategic routes. The airline highlighted the dual role of the service in supporting business ties and industries that rely on frequent, reliable logistics and travel between the UAE and Bangladesh. With tickets already available and introductory one-way fares from $199, the route is positioned to capture peak-season travel and freight needs between the two countries during the northern summer and early autumn of 2026. ---