May El Habachi

Entrepreneurship

Fast Company Middle East | The future of tech, bus •

If the AI bubble bursts, will MENA startups survive?

Is there an AI bubble? From the head of Google’s parent company to officials from the Bank of England, many fear that the AI’s growth is being driven by massive investment and hype, similar to the dot-com boom.

As it stands today, the unit economics of the AI industry don’t add up. The revenue or value an AI company or a large language model like ChatGPT earns from servicing a single user or query is less than the amount it earns from that interaction. OpenAI, for example, is not profitable, ev...
Fast Company Middle East | The future of tech, bus •

Why interest rate cuts could boost funding for startups in the Middle East

Last month, the US Federal Reserve cut interest rates by 0.25% for the first time in 2025. The next Federal Reserve meeting, slated for October 28, is also widely expected to cut rates further, increasing the money supply and stimulating the economy.

This could be good news for startups in the Middle East. Consecutive interest rate cuts give startups more access to capital. Lowering interest rates reduces the cost of borrowing and makes loans more affordable.

After the VC winter, which began i...
Fast Company Middle East | The future of tech, bus •

War’s hidden casualty: The mental health of Palestinian entrepreneurs

Before October 7, 2023, Palestinian founders were part of a growing tech and startup sector. They were using their digital skills to overcome movement restrictions and connect to a global marketplace, giving them a virtual window to the world.

The Information and Communication Technology (ICT) sector was estimated to contribute $641 million to the economy, accounting for about 4% of the total Palestinian gross national product, according to a recent report by Gaza Sky Geeks (GSG).

But all that...
The National •

Syrian entrepreneurs herald 'new era for economic growth' after US lifts sanctions | The National

US President Donald Trump’s announcement this week that he will lift sanctions on Syria has brought new hope to Syrian entrepreneurs.

Mr Trump made the announcement during his visit to Saudi Arabia on Tuesday, prompting a standing ovation at the US-Saudi Investment Forum.

“The lifting of sanctions on Syria caused huge relief and I see it as a pivotal step toward revitalising the Syria start-up ecosystem,” says Khaled Moustafa, co-founder of local ride hailing app YallaGo.

“It will unlock our...
SecneNow •

Amal Dokhan: On the Potential of Regional Female Entrepreneurship

A name that perhaps needs no introduction, Amal Dokhan is a leading figure in the world of venture capital and private equity in the Middle East. As a Managing Partner at 500 Global in MENA, one of the world’s most active venture capital firms, Dokhan is known for empowering the next generation of entrepreneurs, and promoting inclusive representation for women founders and investors in the region.With more than 15 years of industry experience, Dokhan embarked on her journey in the region’s start...
SecneNow •

How Women Entrepreneurs are Breaking Barriers in Saudi Arabia

Around 45% of SMEs in Saudi Arabia are led by women according to Monsha’at, but this growth did not happen overnight.A country once known for its restrictive policies towards women, Saudi Arabia is now witnessing a surge in female entrepreneurship as part of the Kingdom’s ambitious Vision 2030 plan to diversify the economy, and support women’s empowerment initiatives and policies.It is estimated that 45% of SMEs in the country are being led by women, according to a recent report by Monsha’at, Sa...
SecneNow •

Loulou Khazen: How MENA’s Startup Ecosystem Evolved in the Past Decade

The voice behind ‘Conversations with Loulou’ tells us all about how much the MENA region’s ecosystem has changed over time.
Perhaps best known for her podcast ‘Conversations with Loulou’ - one of the top 10 ranked entrepreneurship podcasts in the Middle East - Loulou Khazen Baz is a woman who wears many hats. Over the years, Baz has been an entrepreneur, an investor and a podcaster, and through each of these roles, she has worked tirelessly to support the region’s startup ecosy...
SecneNow •

Why Investments in Female Startups Still Lag in the Middle East

Perhaps it comes as no surprise that funding in female led startups dropped again for another consecutive year. According to data from the World Bank, although female entrepreneurs generally outperform their male counterparts - growing at more than double the rate of all other firms - they are consistently overlooked when it comes to investments.Out of the 583 startups that raised funding in 2023 in the MENA region, only 52 were founded by women, according to Wamda. They collectively raised $19...
SecneNow •

Red Sea: The Startup Reinventing Agriculture for a Greener Future

This agritech startup developed a platform that uses up to 90% less fresh water and energy than traditional farming methods.It is no secret that the word has a food security problem. With the global population growing rapidly, it is becoming increasingly critical to feed the world sustainably, especially in hot and water-scarce environments like the Middle East. In the GCC, for example, freshwater resources will be depleted within the next 50 years, according to the Brookings Institution. And cl...
The Circuit •

Saudi Arabia is a growing  alternative for Mideast startups seeking new home

Economic uncertainty is driving some entrepreneurs across the region to skip the UAE and relocate to the booming kingdom, startup leaders say

CAIRO, Egypt – When Aly Magdy, founder of an Egyptian startup that makes electric water-scooters, needed to grow his business, he found it challenging in an economy that has been suffering from currency devaluation, dollar shortages, and inflation. So he looked to Saudi Arabia.

The Saudi market expanded 8.7% last year, the most of any G20 country. With s...
Fast Company Middle East | The future of tech, bus •

Why are green startups still struggling to attract investments?

With sustainability becoming a much-used buzzword in the region, entrepreneurs are increasingly launching green startups. From tackling environmental challenges to combating the effects of climate change, they are creating innovative technologies and products while also improving business value.

Despite their commitment to sustainable goals, however, green startups in the region often struggle to attract investments.

Last year, most of the funding went to fintech, logistics, and e-commerce sta...
SecneNow •

The Rise of Qatar’s Startup Ecosystem

StartupScene speaks with some of Qatar’s experienced investors and entrepreneurs on the nation’s burgeoning ecosystem.Startups are playing an increasingly important role in Qatar’s economy. With the country looking to reduce its reliance on oil and gas, it is now investing heavily in entrepreneurship and business development, as part of the Qatar National Vision 2030.From establishing free zones to launching incubators and accelerator programs like the Qatar Business Incubation Center, and creat...
SecneNow •

Three Lessons from Silicon Valley Bank Collapse for Startup Founders

The bank’s failure exposed the need for founders to safeguard their investments, and build resilient businesses that can withstand the test of time.One month after the Silicon Valley Bank (SVB) collapse, founders and investors are breathing a sigh of relief in the knowledge that they will not lose their money in one of the biggest US bank failures since the financial crisis of 2008. Instead, they can now focus on future proofing their investments, and learning from this opportunity to mitigate a...
SecneNow •

How Entrepreneurs Can Leverage ChatGPT to Grow their Business

StartupScene speaks with some of MENA’s AI pioneers to discuss the impact of ChatGPT in industries across the region.

ChatGPT has taken the world by storm since it was launched in November last year. Global companies like Snapchat, Shopify, and consulting firm Bain & Company were all quick to embrace the new AI technology. Regionally, it is no different.Many startups in the Middle East have already started using ChatGPT whether for their customer service, content creation or s...
SecneNow •

Why Saudi Arabia is Emerging as a Leading Fintech Hub in MENA

With the Saudi Central Bank introducing a new open banking framework, we examine why the kingdom is betting on fintech.
Saudi Arabia’s fintech sector is booming. While fintech across the MENA region may be growing rapidly, it is growing exponentially in Saudi Arabia, especially when compared to previous years.In 2022, fintech emerged as the most funded industry in the kingdom with $239 million raised, a 167% increase compared to 2021, according to Magnitt’s 2022 Saudi Venture Capital Report. Th...
SecneNow •

A Year in Review for Egyptian Startups

There is no denying that this year was an absolute rollercoaster for the Egyptian startup ecosystem, so here's a look back.Amidst the global economic slowdown, Egypt has faced numerous challenges in 2022. When it comes to the nation’s startup ecosystem in particular, a global decrease in funding has led many startups to opt for cost-cutting measures, and brace for new ways of operating.  Despite the difficulties, Egypt is still considered a leading startup ecosystem in the MENA region, after Sau...
SecneNow •

Green Startups Changing the Narrative on Climate Action in Egypt

With the conclusion of the COP27 UN Climate Change Conference in Sharm El Sheikh, we've seen sustainable and green startups showcase their innovative ideas and solutions to tackle some of the country’s most pressing environmental challenges. In 2021, Egypt produced 259.3 million tons of CO2 emissions, according to research by Knoema. While emissions have increased in the last 50 years with an annual rate of 15.83%, Egypt still produces only 0.6% of the world’s CO2 emissions, as stated by Egypt’s...
SecneNow •

Forbes Under 30 Spotlight: MaxAB Empowers Small Retailers Across Egypt

To commemorate the first time Egypt hosts the Forbes Middle East Under 30 Summit at El Gouna, we’re spotlighting some of the Under 30 listers who have made an impact across the Middle East and North Africa. Counted amongst them is Mohamed Ben Halim and Belal El-Megharbel, who have been digitising Egypt’s small, local retailers through their ecommerce platform MaxAB since 2018.Looking to disrupt the traditional supply chain, the startup enables retailers to procure all inventory for their stores...
SecneNow •

Forbes Under 30 Spotlight: How iSchool Preps Kids for a Future in Tech

As the first Forbes Middle East Under 30 Summit in Egypt approaches, bringing some of the brightest minds in arts, business and media to El Gouna, we’re spotlighting some of the up-and-coming names who have made it on the summit’s eponymous list. Amongst them are co-founders Muhammad Gawish and Mustafa Abdelmoneim, whose Egypt-based startup, iSchool, provides STEAM-focused training to children as young as six years old to better prepare them for the jobs of tomorrow. Launched in 2018 alongside f...
SecneNow •

Addressing the Funding Gap for Female-Led Startups in the MENA Region

When Shamim Kassibawi launched her startup Play:Date in 2017, she spent a lot of time testing her app in the UAE to make sure it was a good fit for families before rolling it out to other countries. Although the app is now available on iOS and Android in 126 countries, the path to fundraising had not been easy for Kassibawi - an experience that was echoed in the efforts of female entrepreneurs across the MENA region. “It’s more challenging to be taken seriously, especially when you have a parent...
SecneNow •

The Future of Palestinian Startups

The Middle East startup ecosystem may be on the rise, but Palestinian entrepreneurs still face funding challenges.The Middle East startup ecosystem may be on the rise, but Palestinian entrepreneurs continue to struggle with funding challenges. So far in 2022, startups in the MENA region have raised close to $2 billion, a 46% YoY growth compared to last year, according to data platform Magnitt. Most of the funding went to the three biggest startup destinations in the region - UAE, KSA and Egypt -...
SecneNow •

How Educational Platform Playbook is Closing the Gender Gap

Educational platform Playbook is on a mission to bridge the gender gap and get more women into leadership roles.Launched in January 2022 by Wafa Al Obaidat, it has over 14 masterclasses delivered by some of the Middle East’s most successful women including HH Sayyida Basma Al Said, the founder of the first mental health clinic in Muscat, Oman; and Emaan Abbass, former product developer at Huda Beauty and founder of KETISH, amongst others.Through the platform's digital academy and engaged communi...
SecneNow •

How Startups in the MENA Region are Embracing Sustainability

Staff writer May El Habachi speaks with some of the foremost entrepreneurs in the green sphere to discuss the future of sustainability in the MENA region.
With Egypt gearing up for the COP27 United Nations Climate Change Conference in Sharm El Sheikh this November, sustainable and green-tech startups are taking centre stage to tackle some of the world’s most pressing environmental challenges. Not only is climate change at the top of the political agenda, but investors are pourin...
SecneNow •

The UAE's Rise as the Next Foodtech Hub of the Middle East

Staff writer May El Habachi speaks with some of the leading figures of the UAE's agritech industry to discuss the future of food - and the necessity of such tech to the future of the UAE.With natural resources depleting at an unprecedented rate and shocking disruptions to supply chains brought about by the COVID-19 pandemic and, more recently, the Russian invasion of Ukraine, the UAE is investing heavily in agritech to drastically improve internal food security. The Abu Dhabi Investment Office (...
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