Streams Of Progress

Tariq Sanad began his career at Gulf Air prior to spending almost a decade at Procter & Gamble where he climbed the corporate ladder from a Financial Analyst all the way to Group Finance Manager for the MENA region.His first foray into startups was as an entrepreneur and the Managing Director of Lime & Tonic Dubai.After winding down Lime & Tonic Dubai’s operations, he joined Careem as the Chief Marketing Officer where he served for over a year before onto his next challenge at Fetchr to serve as the Chief Financial Officer.Over the last two years at Fetchr, he has witnessed and be part of the company’s massive growth and expansion.Listen to learn more about his journey and where he sees it all going.Enjoy the show!Show Notes:01:30 – Pragmatism, University and Studying Accounting.03:00 – Starting at P&G, just when it was opening up it’s office in Dubai.04:00 – Moving to Dubai back in the early 2000’s.05:00 – From becoming a pilot to an accountant.06:15 – Climbing the corporate ladder at P&

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…The macro economic consequences of Shale horizontal drilling in West Texas which ’caused oil to hit peak demand rather than hit peak supply; served as one of the catalysts for governments in the region to shift towards technology. Over the last few years, we have seen a lot more initiatives from the government sector to support the growth of the nascent startup ecosystem.On where the MENA startup ecosystem is heading next…There is a huge potential in a single market for the region, at least in terms of startups looking to scale. A 450 million person market is waiting if they are able to come together and act as one single market.  Dubai is excellent at what it does for startups, the only thing is allowing those startups to scale to additional cities overnight, as they can in the United States or European markets; allowing them to expand into the 350 million person market in the blink of an eye.  

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…The attraction of the UAE & Dubai for people from across the globe to come setup their companies and startup has to do with both the forward thinking aspects of the government (e.g. Smart initiatives and Blockchain usage), as well as the appeal of Dubai as a great city to live in. These aspects of the city has made the appeal for entrepreneurs to setup their companies in the city very appealing over the last few years. The startup ecosystem has been rapidly growing with the advent of new technology startups.On where the MENA startup ecosystem is heading next…Blockchain technology in the UAE is a very attractive industry for startups as it aligns with the country’s goals to adopt the technology across various fields. We also see the potential to improve the speed of startup registration and company formation/launch over the coming years as the UAE works to improve it’s offerings for would be entrepreneu

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…There has been a lot of positive change and growth in the startup sector. Opportunities have arisen around smart phone apps for entrepreneurs and startups to address problems. The number of funds in the region has increased and the ability to raise capital is a lot easier. As we have seen exits in the region, a lot of the teams involved with those exits are then re-investing in the ecosystem either as VCs and/or by starting new startups.On where the MENA startup ecosystem is heading next and the challenges they face…The market is big, young and very tech savvy. Startups need to continue to focus on actually solving problems. We will continue to see global eyes focus on the region, but we still see some difficulties in additional funding rounds, however overall we are on the right track.On the Step Conference…We see a lot of entrepreneurs at the conference and also tend to see entrepreneurs coming back

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years… Angel groups and accelerators have greatly evolved from what they were before; investors are more active with startups and the market education has occurred. We have moved beyond some of the initial just ‘talk’ around investments and the overall scene is more active.On where the MENA startup ecosystem is heading next…The next step is focus – early on we saw a lot more ideation, but now it’s about creation and implementation of strategy. Lead angels of years ago are now heading VCs and we have more niche/industry focused approaches towards portfolios. Rather than external consultants assisting the ecosystem, entrepreneurs are starting to give backOn how Angel Investors in the region can improve…Angel investors need to learn to trust the entrepreneurs, trust the ecosystem and community around them. New investors aren’t comfortable investing after 20 minute coffees and funding rounds at Seed and Series

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…The past five years have been where most of the acceleration has happened. More money, more entrepreneurs, more ideas, more exits, more of everything, there has been a very positive upwards trend.On where the MENA startup ecosystem is heading next…Technology companies and businesses are being more accepted as mainstream companies and everyday life usage of their solutions. As startups become larger and more mature, that leads to the creation of a bigger venture capital industry. MEVP also just announced at Step about it’s next $250 million dollar fund, which will focus on technology.On what potential positive changes to see in the investment industry…Walid would like to see investments become a more accepted asset class, which could drive more people to invest into the ecosystem and we will see more innovative technologies and solutions come out of it.On the Step Conference…Step is a chance to connect and see w

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…A few years back we would’ve only seen early stage startups, where as now we are seeing exits and substantial scale ups occurring, with the advent of the region’s first unicorns (e.g. Careem) and the acquisition of Souq.com by Amazon.On where the MENA startup ecosystem is heading next and the challenges they face…The markets are fragmented and the amount of VC money is still behind other markets (as a percentage of their GDP); so funding and access-to-market needs to be improve to truly achieve the region’s potential. The scaling process is slowed down in such a fragmented market, we don’t see what we see in other huge markets such as United States, China or India. The role of government support also plays a factor – the research that comes from other governments also contributes to their own startup ecosystems.On the Step Conference…When one explores the Step Conference, one can see that this ecosystem is happening

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…We’ve seen people moving to the UAE to launch their startups because they see the opportunities of starting their businesses. So we’ve seen the market mature over the last few years. Fintech regulators at FSRA and DFSA are creating new frameworks for new types of startups to operate.  Regulators don’t like to regulate in a vacuum, they are looking for guinea pigs that they will craft the regulations around.On where the MENA startup ecosystem is heading next and the challenges they face…The sky’s the limit – Amazon creating new possibilities, official unicorn with Careem, it’s drawing talented individuals into the startup ecosystem, who might be in a high paying jobs, seeing exits and such liquidity events attract more talent in the space.On challenges that startups in the UAE face within the legal framework that could be improved…It’s costly to start and operate a startup within the UAE, thus the evolution of o

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…It’s not only top-down innovation with governments incentivizing startups, but we are also seeing more private capital flowing into the startup ecosystem and talent leaving good jobs to explore startup careers.On where the MENA startup ecosystem is heading next…We have seen talent leaving good consulting, banking or government jobs, but not always technical founders, so there is a need for more schooling and attractive incentives to pull specifically technical talent and technical founders into the ecosystem.On challenges that companies might face when scaling up…We see a Funding Gap at Series B level or at Seed Level, thus there is a need for more funding at those stages in this ecosystem.Additionally we need to make it easier for technology startups to scale up across region from a regulatory perspective.On the Step Conference…We have a chance to see everything in action at the event, the vibe and the energy of the event is

Show Takeaways:On the MENA startup ecosystem’s entrepreneurs…Startups that succeed in this region have been the ones that were able to make great strategic partnerships, beyond just the right investors. On what is needed for MENA startup ecosystem to develop…More investors need to get involved at an early stage. We need more early stage investment for startups. These tend to be riskier bets for investors but such types of investments are part of the growth we see in places like Silicon Valley.On the Step Conference this year…One of the sessions this year was about thinking global and moving beyond region. From the brand, to product offering. The importance of scaling global and thinking global begins from the start.Check out more episodes from the 2018 Step Conference Series and learn more about 360VUZ. See acast.com/privacy for privacy and opt-out information.

Show Takeaways:On the MENA startup ecosystem’s entrepreneurs…Entrepreneurs need to be prepared before going out to raise funds. They need to be educated about the metrics that matter and the importance of repeating customers – there is no lack of funds for good ideas with the right metrics.On what is needed for the MENA startup ecosystem investor community…A mindset shift is required – investors need to take risks in this region. There tends to be a focus only on later stage investments and safer bets; for the ecosystem to further develop they need to make investments at the earlier stage (pre-seed and seed stages).On the Step Conference…It’s more than entrepreneurs and investors. One can find audience/customers and corporates, not just the ecosystem traditional players, but the fact it’s open to all types of people as well, to network and even find co-founders.Check out more episodes from the 2018 Step Conference Series and learn more about 1776. See acast.com/privacy for privac

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…We’ve seen the MENA region growing aggressively from all fronts, hence the reason why Techstars decided to recently launch Techstars Dubai in the region.On the increased deal flows in the MENA startup ecosystem…The startups involved in these deal flow appear to be within hot industries that align with the government’s vision for the future. There is a lot of demand for their market solutions from consumers as well as investors.On the Step Conference…As a newcomer to the MENA startup ecosystem, Vijay was able to make new connections and get a pulse of the MENA startup ecosystem at the Step Conference.Check out more episodes from the 2018 Step Conference Series and learn more about Techstars Dubai. See acast.com/privacy for privacy and opt-out information.

Show Takeaways:On how the MENA startup ecosystem has evolved over the last few years…There has been a development in the type of ideas that are coming out of startups coming from startups. The market is maturing more and there are more thought leaders entering the regional ecosystem. There is a great mix of local and international thought leaders.On where the MENA startup ecosystem is heading next and the challenges they face…Dubai’s potential in becoming a ‘brain port’ where many international thought leaders will be living in Dubai and these thought leaders will be exporting their ideas to nearby countries and neighboring markets.On challenges that companies might face with new disruptive technologies…People need to accept the innovative solutions on the way and how the job landscape will completely revolutionize the markets. It’s important for leaders to be in tune with new technologies and innovations.On the Step Conference…Startups need to come into such events with zero expectations, but

Rana Nawas is a published writer, corporate warrior and sought-after speaker on a mission to inspire women of all backgrounds to shine. Born in England to a Palestinian father and Lebanese mother, Rana grew up like many Western-educated Arabs facing the dichotomy of liberal and traditional values.Rana’s education at Oxford University and Harvard Business School gave her a strong foundation to solve problems and negotiate effectively, but nothing could have prepared her for the tough reality that women face as they rise through the corporate world.Over the course of her 17-year corporate career spanning McKinsey & Company’s London Office, the Dubai Government and GE Capital, Rana has pioneered new markets, launched new products, led diverse and sometimes virtual teams, won business all over the world and developed strong relationships. She also led the charge in rewriting corporate policies that impact women, championed pay parity and helped women rise in their professional and personal lives.Rana is

Philip Bahoshy is the Founder of MAGNiTT, an online platform that connects MENA entrepreneurs, startups and investors and offers access to extensive research, analytics and insights from across the region.He was raised in the UK with Iraqi origins, Philip obtained an MBA from INSEAD in 2013 and a BSc in Economics from the London School of Economics.During his time in Dubai, Philip worked at Oliver Wyman in the Financial Services practice for three years, followed by nearly three years at Barclays Wealth working as Chief of Staff to the CEO advising on strategic initiatives.Philip has lived in the UAE for more than nine years and is passionate about developing the MENA startup ecosystem.Listen to learn more about his experiences and how MAGNiTT has evolved over the years to become the gateway for the MENA Startup Ecosystem.Show Notes:1:30 – Growing up in the UK.02:00 – His time at Oliver Wyman in 2007.02:30 – His first exposure to the Middle East.03:00 – Transitioning to Barclay’s Wealth.03:30 – His travels du

Olivia Manner is the Founder & Managing Director of HelloChef, a meal delivery service that sends tasty recipes and fresh ingredients directly to your door, making it easy to cook a delicious meal at home. Prior to launching HelloChef, Olivia had a successful 10-year career at IBM and E&Y. Olivia is passionate about creating a space where families can gather around the table to enjoy a delicious homemade meal while connecting and creating special memories.Ahmed Al Akber is the CEO of HelloChef and takes the lead on strategy implementation and marketing, helping to grow and scale the business. Ahmed is a dynamic leader that loves to create ways to provide more value for HelloChef’s customers so they can save time, money, and eat amazing meals by using the service. Ahmed is also a published author and had a successful 15-year career as marketing professional prior to joining HelloChef full-time.Enjoy the show! See acast.com/privacy for privacy and opt-out information.

Ray Dargham, an ambitious entrepreneur straight out of university is known for founding the Step Group behind the popular Step Conference as well as many other media properties such as Stepfeed,  YallaFeed and Arab Vines to name a few.He is also the co-founder and a partner at Spider Frogs, a future technology consultancy agency working with corporations.Listen to learn more about how he started his venture and his bold vision for where Step is going next! See acast.com/privacy for privacy and opt-out information.

As Co-Founder of Beam Wallet, Shezan Amiji is looking to the future of payment solutions with an interest in the potential of blockchain.His first successful entrepreneurial venture began with 7 Days, the UAE's first free tabloid newspaper. After successfully exiting this venture, he pursued another venture in sustainability and green technologies before starting up Beam Wallet, the popular mobile payment and wallet application. Beam Wallet came into existence well before the "Fintech" buzzword had caught on.Lately, Shezan has been fascinated with the potential of blockchain technology and sees many opportunities for incumbents and newcomers who embrace the technology into future solutions.Listen to learn more about his journey and where he sees it all going.Enjoy the show! See acast.com/privacy for privacy and opt-out information.

Tatiana Antonelli Abella is the founder and managing director of Goumbook, a Social Enterprise dedicated to raising awareness among the local community on Sustainability and Green Living: launched in 2009 it was the first green information resource for the MENA region. Today Goumbook manages different projects such as Sustainable Mena, a green directory dedicated to promote green products and services in the region; the Give a Ghaf Tree Planting Program, the only tree planting initiative of the GCC with over 30,000 seeds planted in the past 5 years, and the Drop It & Drop It Youth campaign to help businesses and individuals stop using single-use plastic. Tatiana is actively involved in the green arena and is considered one of UAE’s top Environmental Influencers.Enjoy the show! See acast.com/privacy for privacy and opt-out information.

As Founder and CEO of Beehive, Craig Moore is responsible for overseeing the overall strategic direction and managing the day to day operations of Beehive.Before founding Beehive, Craig was a Founder & COO of Butterfly Software, a data analytics and migration software company acquired by IBM in September 2012.Prior to Butterfly his experience included various sales, consulting and finance roles at various multinational companies such as Dell, EMC, Hitachi and HSBC with an emphasis on shaping effective go to market and value propositions.Enjoy the show! See acast.com/privacy for privacy and opt-out information.