#20 This Week In MENA🚀
Dive into the latest Startup News, Trends & Opportunities shaping the MENA region
Greetings MENA entrepreneurs! 🌐✨
We’re excited to bring you this week’s edition filled with the latest updates from the MENA startup ecosystem.
From significant funding news to new tech ventures, there’s a lot to explore.
Trending This Week:
In The News
Ecosystem Updates
Startups Highlights
Upcoming Programs
Cool Events
Interesting Stuff
Techy Bytes
Let’s dive in!
In The News
Mubadala's Busy Week! 🏢💸
Mubadala, a global investment company based in Abu Dhabi, has been very active lately. They invested $1.5 billion in Aquarian to boost its credit insurance business and $50 million in Iambic Therapeutics, a biotech firm. Additionally, they've acquired a South American sailing team, marking their first venture into the sailing domain
AngelSpark Invests in Tapper! 🚀📈
AngelSpark, known for backing innovative startups, has invested in Tapper, a UAE-based AdTech startup revolutionizing the advertising landscape. Tapper uses AI to optimize ad placements and improve ROI for advertisers. This funding will help Tapper enhance its AI capabilities, expand its market reach, and further innovate in the ad tech space
Masdar's Green Leap! 🌱🔋
Masdar, Abu Dhabi's renewable energy company, has acquired Greece’s largest renewables investor, Terna Energy. Terna is a leading player in wind, solar, and hydroelectric power, and this acquisition strengthens Masdar's position in the renewable energy sector
Bahrain Secures Record Foreign Investment 💰📈
Bahrain has attracted a record $6.8 billion in foreign investment. This substantial investment reflects the country's robust economic policies, strategic location, and investor-friendly environment, positioning Bahrain as a key destination for international business and investment
Another One For Shorooq Partners💼💵
Shorooq Partners, a leading venture capital firm in the MENA region that specializes in supporting early and growth-stage startups, has finalized their second $100 million credit fund. This fund aims to provide much-needed capital to foster innovation and business growth across the region
Breega Goes to Africa 🌍💡
Paris-based Breega, known for its tech investments, has closed an Africa-focused VC fund. This initiative is dedicated to investing in African startups, driving growth and innovation across the continent
China Picks Morocco ⚡🔋
China has selected Morocco as a key supplier for Europe’s EV battery market. This strategic move highlights Morocco's emerging role in the global supply chain for electric vehicles, leveraging its strategic location and resources to support the growing demand for EV batteries in Europe
Cerebras Eyes IPO! 📈🚀
Abu Dhabi-backed Cerebras Systems, a leader in AI hardware, has announced its plans for an IPO. This move aims to capitalize on the increasing demand for AI and machine learning technologies, leveraging their innovative chip designs to attract investors
Ecosystem Updates
Dubai Future Foundation and Meta Launch AI Program 🤖🚀
The Dubai Future Foundation and Meta have launched an AI incubation program aimed at fostering innovation and supporting startups in the AI sector. This initiative will provide resources and mentorship to help emerging AI companies thrive in the competitive tech landscape
EWA Accelerator Demo Day Highlights 🌐✨
The EWA Accelerator announced the winners of its Demo Day and Gala Dinner held on May 23rd. The top 17 startups from the Spring Cohort showcased their innovative solutions. Congratulations to the top three winners:
First Place (200,000 AED): Zidyia - Creating customized learning paths for educators and learners
Second Place (100,000 AED): Diagnio - Revolutionizing women's health management with personalized solutions
Third Place (100,000 AED): The Food Engine - Reshaping agriculture with sustainable practices
Additionally, MeetSwap, Pupilar, Filming Locations, Shooty, and Zealous will share follow-up investment support of up to 2,000,000 AED. The event emphasized the commitment to sustainable growth and innovation in the UAE startup ecosystem
Jusoor's Disruptors Project Kicks Off 🚀📍
Jusoor’s Disruptors project has begun its activities in Istanbul and Amman, aiming to support and mentor Syrian entrepreneurs. The project provides a platform for these entrepreneurs to develop their ideas and grow their businesses
TIEC Announces Startup10 Winners 🏆🌟
TIEC announced the winners of the Startup10 program in Egypt, celebrating the most promising startups in the region. The winners are:
Kodathon - Specializing in coding education for young learners
Seavo - Innovating in marine technology solutions
Egrobots - Developing robotics for various applications
Plug'n'Grow - Focused on smart agricultural solutions
AlProtein - Creating plant-based protein products
Farmtopia - Enhancing farming through technology
Fruitful Solution - Providing solutions for better fruit cultivation
Morocco Aims for Top Spot in African Startup Funding 🌍📈
Morocco has [set](https://kech24.com/المغرب-يطمح-للوصول-للمركز-الثالث-أفريقياً-في-مجال-تمويل-الشركات-الناشئة.html#:~:text=وحسب ما أكده عمر حياني,الأفريقي في غضون خمس سنوات.) its sights on a top spot in Africa's startup funding, aiming to become a leading hub for entrepreneurial growth and innovation
Startup Highlights
🚀 Innovation Wins: BaseTracK, a leading provider of tracking technologies, has won the We Make Future startup competition in UAE. Their innovative solutions enhance operational efficiencies across various industries, marking a significant achievement for the company
🚀 Going Public: Rasan (KSA) has gone public on Tadawul. This Saudi-based fintech company, known for its innovative insurance and financial solutions, marks a significant milestone by becoming a publicly traded entity
🌍 GCC Expansion: BitOasis (UAE), a leading cryptocurrency exchange, is expanding its operations in the GCC with a new license and office in Bahrain. This expansion aims to enhance their service offerings and accessibility across the region, solidifying their presence in the crypto market
📈 Swift Growth: PayBokra (Egypt) is planning to expand into Saudi Arabia and the UAE. Known for its innovative investment technology solutions, PayBokra is set to grow its footprint in the Middle East, offering advanced financial services to new markets
🚀 Rocket Engineering: LEAP 71 (UAE) is revolutionizing the field of rocket engineering using AI and 3D printing technologies. Their groundbreaking approach aims to significantly enhance the efficiency and capabilities of rocket design and production
🤝 Payment Partnership: Careem (UAE), the region's leading ride-hailing service, has partnered up with Payrails to enhance payment integration across MENA. This collaboration aims to streamline payment processes, offering seamless and efficient transactions for users in the region
Upcoming Programs & Opportunities
CreaTech & All Things Media 2.0 🌐
The Collective Hub in Bahrain presents CreaTech 2.0 and All Things Media 2.0 programs, aimed at media innovation and creative technology. Participants will engage in hands-on workshops, receive mentorship from industry experts, and network with like-minded individuals. These programs explore the latest trends and technologies in the media and creative industries, fostering a collaborative environment for creative minds. Apply here.
Innovate for a Sustainable Future Challenge 🌊
Lebanon's Blue Economy Ideathon, co-managed by Berytech and The Hariri Foundation, invites idea-stage startups, students, and young professionals to propose innovative solutions for marine and coastal sustainability. Held on July 20-21, 2024, in Beirut, this event focuses on areas like fisheries, maritime transport, coastal tourism, and marine conservation. Participants will benefit from incubation, mentorship, and the opportunity to engage with industry experts. This initiative aims to address environmental challenges and promote sustainable economic growth. Apply here
Google for Startups AI First Accelerator 🤖
The Google for Startups AI First accelerator program is designed for AI-driven startups in the MENA and Turkey region. This program provides selected startups with mentorship from Google experts, access to Google’s AI tools and technology, and a network of AI-focused entrepreneurs. Participants will receive tailored support to scale their AI solutions, addressing key technical and business challenges. The program aims to foster innovation and drive the AI ecosystem forward. Apply here
10k2Startup Initiative 🌍
The 10k2Startup Initiative is an Africa-wide program that aims to support early-stage startups with funding, mentorship, and training. This initiative provides entrepreneurs with the resources they need to develop their business ideas, including access to a vast network of investors and industry experts. The program focuses on fostering innovation and entrepreneurship across the African continent, helping startups to overcome challenges and scale their operations. Learn more and apply here
Zayed Sustainability Prize 🌱
The Zayed Sustainability Prize recognizes and rewards organizations and schools across the globe that are committed to accelerating sustainable development. The prize spans five categories: Health, Food, Energy, Water, and Global High Schools. Winners receive funding and support to further their sustainability projects and initiatives. This prestigious award aims to drive impactful, innovative solutions that address global sustainability challenges. Nominate your project here
Hello Tomorrow Challenge 🚀
The Hello Tomorrow Global Challenge is a renowned global startup competition designed to highlight and support deep tech innovations. Startups from around the world are invited to apply, with the opportunity to pitch their ideas to a panel of investors and industry leaders. Winners receive significant funding, mentorship, and exposure to advance their cutting-edge technologies. The challenge aims to empower innovators who are solving the world's most pressing issues through technology. Apply here
Elevate Program by Blackbox 🌐
The Elevate Program by Blackbox is designed for directors of startup support organizations. This initiative aims to enhance their competitive edge, build thriving startup ecosystems, and connect with industry leaders. Participants gain from Blackbox’s network of experts and tailored support to foster successful startup environments. Interested parties can email info@blackbox.vc. Learn more here
Apply to Zendesk Ventures for Funding 💡
Zendesk Ventures offers funding and support to startups that are driving innovation in customer experience and engagement. This venture arm of Zendesk seeks to invest in early-stage companies that are developing solutions to enhance customer interactions and service. Startups selected for investment will benefit from Zendesk’s expertise, resources, and strategic guidance to grow their businesses. If your startup is focused on transforming customer experience, consider applying for funding here
Must Attend Events This Week
🌐 How to Turn Your Value Proposition into Product Market Fit: A virtual workshop focused on refining value propositions for better market fit | 24 June, Virtual
🤝 1trepreneur Founders Meetup: A networking event for founders to connect, share insights, and collaborate | 25 June, Dubai
💳 FINNOVEX Qatar: Premier fintech conference showcasing the latest trends, innovations, and technologies in financial services | 25 June, Doha
🤖 Dubai AI Campus Demo Day: An event showcasing innovative AI startups from Dubai AI Campus | 26 June, Dubai
📊 Q&A with Rasmal Ventures: Interactive session with Rasmal Ventures, offering insights into venture capital. | 26 June, Doha
🔍 BigTech Conference: A major tech conference featuring discussions on emerging technologies and innovations in Africa | 26-29 June, Tunis
🏆 Leaders in Fintech Awards: Celebrating the achievements and innovations in the fintech industry | 27 June, Dubai
📈 Lebanese Tech Ecosystem: Challenges and Opportunities: A deep dive into Lebanon’s tech ecosystem, exploring challenges and opportunities | 30 June, Beirut
🔑 Mastering SEO Workshop: Learn essential strategies to boost your website's visibility and drive organic traffic | 30 June, Dubai
Interesting Stuff
🌟 UAE Startup Ecosystem: The Middle East’s Silicon Valley is thriving with innovation, strong government support, and a dynamic entrepreneurial culture, making it a key hub for startups
📈 Crypto Boom: Here’s why MENA is the world’s fastest-growing crypto market, driven by high adoption rates and innovative regulatory approaches
🍽️ NutriCal's Journey: Decoding NutriCal’s path to nutritional clarity and food safety, focusing on its innovative approach to improving dietary health
🍳 Startup Success: Entrepreneur Mahmoud Bartawi shares his insights on cooking up a successful startup in the MENA region
🌍 GSER 2024: The Global Startup Ecosystem Report provides a comprehensive analysis of the world’s top startup ecosystems
🎧 Podcast: Listen to an inspiring discussion on entrepreneurship as a way out of the bottleneck in Palestine, highlighting local success stories and challenges
Techy Bytes
🎤 Umm Kulthum Hologram: The legendary singer is set to perform via hologram in Morocco, bringing her timeless music to new audiences.
🚴 Sustainable Delivery: Deliveroo UAE has launched an electric bike pilot program to promote sustainable delivery solutions
🛠️ Aramco Innovations: Aramco is adopting heat-sensing construction helmets to enhance worker safety on-site
📉 Nvidia Making Moves: Nvidia briefly surpassed Microsoft as the world's most valuable company but lost the top spot after a 3% drop
💡 Some OpenAI News: OpenAI has acquired Rockset to enhance its AI database capabilities, aiming to provide faster and more efficient data processing. Meanwhile, Ilya Sutskever, OpenAI’s former chief scientist, has launched a new AI company, focusing on developing advanced AI technologies that push the boundaries of current capabilities
🌐 New Social Network: A former Snap engineer has launched Butterflies, a social network where AIs and humans coexist. This innovative platform aims to create a unique space for interaction and collaboration between artificial intelligence and human users, potentially reshaping how we communicate and engage online
That’s a wrap!
Thanks for joining us on this week’s journey through the MENA startup ecosystem
Stay tuned for more opportunities, trends, and insights next week
Until next time,
The Startup3lMashi ستارتب على الماشي Team
Want to say hi or share a cool story? --> contact@startup3lmashi.com