Protecting Your Business
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BUSINESS LEARNING CURVES 13 POINTS OF REFERENCE THAT YOU CAN PUT TO WORK FOR YOUR ENTERPRISE PROTECTING YOUR BUSINESS SEIB INSURANCE & REINSURANCE COMPANY DEPUTY CEO AND COO ELIAS CHEDID THE RECAP The role of insurance in developing Qatar’s economy- and why it pays for QATAR your SME to have a safety net ENTERPRISE AGILITY AWARDS 2015 CREATING The second annual SUSTAINABLE Qatar Enterprise Agility Awards, Entrepreneur IMPACT of the Year QATARI SMES AWARDED CONTRACTS BY QDB AND QATAR SHELL AMRO AHMED TALKS ECONOMIC DEVELOPMENT 9 772312 595000 > DECEMBER 2015 | WWW.ENTREPRENEUR.COM/ME | QAR15 DECEMBER 2015 CONTENTS 16 Amro Ahmed, Qatar Local Content and SME Manager, Qatar Shell 16 14 22 54 INNOVAtor: ProtECTING YOUR THE RECAP SKILLSET THE VALUE OF BUSINEss ENTERPRISE AGILITY Innovation happens ProDUCTION IN CREATING Seib Insurance & Reinsurance ACHIEVERS 2015 outside of the classroom SUstAINABLE IMPACT Company Deputy CEO and The second annual Qatar Three things entrepreneurs Qatari SMEs awarded COO Elias Chedid Enterprise Agility Awards, can teach MBAs, and contracts by QDB and Qatar The role of insurance in Entrepreneur of the Year guess what? It all involves Shell developing Qatar’s economy- staged in association with hands-on experience in the Amro Ahmed talks economic and why it pays for your SME Doha Bank market. development to have a safety net 72 38 ‘TREPONOMICS: SKILLSET PRO Promoting SMEs as key The Diderot effect drivers of innovation and Olympian and entrepreneur engines for global trade James Clear talks about the and growth vicious cycle that ensues Marc Proksch analyzes when you spend a bit, then some external and internal spend a bit more, and then factors to consider for your spend even more. company’s success. 22 Enterprise Agility Awards: Seib Insurance & Reinsurance accepting the Insurance Innovation award DECEMBER 2015 ENTREPRENEUR 3 Q70 Qatar Today English FP 20.5X27.indd 1 8/19/15 3:37 PM 67 Startup Weekend Dubai runs a 54-hour educational experience for ‘treps CONTENTS DECEMBER 2015 84 82 MONEY: START UP FINANCE ASK THE MONEY GUY Capital injections for two Critical points to note for Middle East startups continued access to capital The founders of Carpool Arabia Dr. Abdelhakim Hammach, the and TaskSpotting share their Managing Director of Riyadh tips on getting funded, and what Valley Company, discusses they’ll be doing with their new how to overcome fundraising found funds. challenges for your startup. 12 76 EDITOR’S NOTE START IT UP: By Fida Z. Chaaban Q + A Moving pretty darn quick 68 CamelShip co-founders Sari CULTURE: 67 Startup Weekend Dubai runs a 54-hour educational Issa and Fares Nimri came LIFE experience for ‘treps up with their idea after they Business book rundown noticed a gap they could Amal Chaaban reviews a few bridge in what they describe business books for you before 70 42 as the “e-commerce space.” you hit the bestseller aisle. ‘TREPONOMICS: MARKETING It’s true that not all executive ESQUIRE GUY The recipe for a viral 78 material is created equally. The compliment marketing campaign START UP FINANCE sandwich Bayt.com’s Lama Ataya More money means more 46 Ross McCammon lays explains how having a piece opportunity LIFE down the law: you must of content go viral is the Sarah Appleton’s startup, Health conscious startup soften a rejection with a closest thing to the Internet’s Mini Exchange, got funded in Raw ME positive message, and this version of winning the Dubai and now she is using Startup founder Layla Al-Dorani is how you do it (right). lottery. those funds to scale the wants you to feel better… and business. that starts with nutrition. 30 Enterprise Agility Forum 2015 4 ENTREPRENEUR DECEMBER 2015 CONTENTS DECEMBER 2015 58 TRAVEL At your beck and call The St. Regis Abu Dhabi is always at the ready for your visit to UAE’s capital. 62 TECH SHINY #TamTalksTech Gadgets and doodads that you might’ve missed out on, sourced by a tech 50 Cities Store Dubai aficionado. Yes, it’s okay to want them all… and no, it’s not our fault. 60 50 CULTURE: DESIGN 90 TRAPPINGS Business is booming WEBSITE TO WATCH ‘Trep gear A discourse on design Finance goes digi The executive selection for with entrepreneur Hazem Fintech companies are the entrepreneur on your Aljesr. The Cities founder transforming the banking list that has everything. makes MENA’s creatives experience by driving Okay, maybe for a little a priority with his the sector into the next self-reward as well. enterprise. generation of banking. 62 #TamTalksTech: The new iPad Pro 60 U.K.-based entrepreneur Roja Dove crafts haute fragrance for the MENA bespoke client 6 ENTREPRENEUR DECEMBER 2015 SUBSCRIBE EDITOR IN CHIEF Fida Z. Chaaban [email protected] Contact [email protected] to receive Entrepreneur Middle East every issue MANAGING DIRECTOR Walid Zok [email protected] DIRECTOR Rabih Najm [email protected] DIRECTOR Wissam Younane [email protected] PUBLISHER Nehme Abouzeid MANAGING EDITOR Aby Sam Thomas CREATIVE LEAD Odette Kahwagi PO Box 502511 Dubai, United Arab Emirates ONLINE LIAISON Kareem Chehayeb P +971 4 4200 506 | F +971 4 4200 196 COLUMNIST Pamella de Leon For all commercial enquiries related to COLUMNIST Tamara Clarke Entrepreneur Middle East contact COLUMNIST Shoug Al Nafisi [email protected] CONTRIBUTING WRITERS All rights reserved © 2015. Sarah Appleton Marc Proksch Opinions expressed are solely those of the contributors. Lama Ataya Soukaina Rachidi Entrepreneur Middle East and all subsidiary publications in Amal Chaaban Alexander Rauser the MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Entrepreneur Media Inc. James Clear May Rostom No part of this magazine may be reproduced or transmitted Ross McCammon Mark Sephton in any form or by any means without written permission of Dr. Abdelhakim Hammach Erika Widen the publisher. Sean McKeon Images used in Entrepreneur Middle East are credited when necessary. Attributed use of Printed by Raidy Emirates Printing Group LLC copyrighted images with permission. All images not credited otherwise Shutterstock. www.raidy.com In addition to our print edition, we’re bringing you all sorts of industry news on our web mediums. Joining us online means getting relevant business and startup content in real-time, so you’re hearing about the latest developments MIDDLE EAST as soon as we do. We’re looking forward to interacting with our readers on ACCESS FRESH CONTENT DAILY ON OUR WEBSITE! all of our social media and web platforms- like any thriving business, we’re looking to give and take. #TrepTalkME is already happening on all of our digi www.entrepreneur.com/me platforms, and all good conversations go both ways. See you on the web! EntMagazineME @EntMagazineME | @Fida Entrepreneur-me EntrepreneurMiddleEast EntMagazineME EntMagazineME EntMagazineME 8 ENTREPRENEUR DECEMBER 2015 EDITOR’S NOTE potential investors for “speed dating” ules to speak to our entrepreneurs, sessions- they pitch hard, and then if we aren’t doing that very same Ecosystem they move onto the next table.) After thing? Yes, it does take a tremendous the session, I was asked if I was amount of preparation, and yes, it karma “paid” to moderate. The question means we often work long hours to You get what you give actually was posed thus: “So why do make up for the time that we spend you do this, anyway? You’re always at events as speakers (especially ately, probably due to the speaking… Are they paying you? when we have to travel for an event). large number of events En- Like, all the events you speak at, do But that is what it takes to work at trepreneur Middle East par- they pay you to do this?” No, no one this magazine, because we don’t see ticipated in this year, I’ve is paying me. (Full disclosure: there ourselves as just a magazine. If we been asked a lot about my are non-monetary stipulations when did, we would not have, from day Lmoderating or speaking engagements. I moderate or speak at an event- we one, been actively engaged on the This fall alone, I took part (alongside ask that Entrepreneur Middle East is ground with entrepreneurs and the many others from our hyperactive partnered in some official capacity, very significant people who facilitate entrepreneurial ecosystem) in more and that our logo is present.) entrepreneurship in this region- be events than I can list here, and they So, the reason that both Aby Sam it through programs, mentorship all had to do with entrepreneurship Thomas (our Managing Editor) and I or funding. If we did see ourselves and leadership. speak or moderate at different events as just a magazine, we wouldn’t be On November 20, I had the great across the region is because we don’t tweeting with our startups night pleasure of moderating for one of see ourselves as a media outlet. We and day, and we wouldn’t be heavily MENA’s biggest ecosystem heroes, see ourselves as part and parcel of engaged with entities like Endeavor. Ronaldo Mouchawar, the founder and the entrepreneurial ecosystem in this To work at this magazine, you have CEO of souq.com at Endeavor Jor- region. During these types of conver- to believe in what we’re doing, and dan’s DealMakers 2015. (As an aside, sations, I often remind people that we that means that you are committed to it was a terrific event and the premise too stage events, and how can we ex- being more than just a magazine. You is that it connects worthwhile En- pect the ecosystem’s pillars to come are committed to the ecosystem, all deavor Jordan entrepreneurs with out and take time out of their sched- the way.