Protecting Your Business

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

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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!

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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 moderatingL 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. I think that our Director, Wissam Younane, summed it up nicely during his address at our 2015 Enterprise Agility Awards in Dubai when he, inspired by H.H. Sheikh Mohammed bin Rashid Al Maktoum’s com- mentary on the Arab world, said: “Entrepreneurship isn’t just on our agenda, it is our agenda.” And like you, entrepreneurs, that means we have a single-minded focus on doing our part for the ecosystem, and keep- ing the collective give-and-get energy going. I’ll see you all at the next event!

Check out the full coverage of the 2015 Enterprise Agility Forum Fida Z. Chaaban presented by du in this edition and on Twitter and Instagram by visiting Editor in Chief the hashtag #AgilityForum @fida | @fidazchaaban [email protected]

10 Entrepreneur december 2015 Elias Chedid, CEO and COO, innovator Seib Insurance & Reinsurance Company Deputy

ing in the growth of Qatar and the realization of its National Vision 2030. Seib proudly de- clares itself to be a Qatari national insurance company- its very name is a reference to the role of the seib in the pearl- diving heritage of the country, Protecting wherein the seib would hold on to the ropes supporting the divers as they scoured the depths of the sea for their wares. The seib was essentially thus the diver’s lifeline, and your according to Chedid, that’s the same principle his company uses when dealing with its clients and their insurance requirements. “Our business is a cycle of value creation, business and our name reflects that reality,” he explains. “Seib is a Seib Insurance & Reinsurance Company customer-centric organization. It leads its service offering through a team motivated by a Deputy CEO and COO Elias Chedid passion for excellence, empow- The role of insurance in developing Qatar’s economy- and why it ered by the entrepreneurial spirit that is a reflection of the pays for your SME to have a safety net organization’s senior leader- By Aby Sam Thomas ship, mainly, our Chairman H.E. Sheikh Jabor Ben Youssef t may have been established only in 2009, but Seib Insurance Jassim Al Thani, and our CEO Farid Chedid. Our team mem- & Reinsurance Company has seen its Qatar-based business bers are a source of motivation grow at a rapid rate in the last couple of years, with the insur- by themselves; they create it with every moment spent on ance provider now being ranked among the top institutions of creating achievements, and its kind in the country. When asked what was the formula that transforming obstacles to successes.” Icaused Seib to rise above its peers in the industry, the company’s It’s important to note here Deputy CEO and COO, Elias Chedid, replies, “Nothing could have that while Seib places a lot of importance on its bottom lifted Seib into its exceptional market presence more than superior line, it is not the only thing customer service, a highly qualified team of insurance experts, and a that governs its progress and development in Qatar. “Our determined focus to create a highly satisfied customer partnership.” short-term and long-term goals coincide in continuing to Chedid’s response is indica- company to stand out in its is not only reflected through service our clients at the high- tive of the reason why Seib sector. “We have a passion for technology- it is also in under- est service standards possible won the Insurance Innovation excellence, and we endeavor writing processes, in insurance through transparency and award at Entrepreneur Middle to deliver the highest stand- solutions to complex risks, in integrity to maintain a profit- East’s 2015 Qatar Enterprise ards of service, value and scheme designs, in building able growth, while focusing on Agility Awards presented by integrity at all times,” Chedid a motivated team. And most the Qatar National Vision for Doha Bank- Seib’s focus on says. “The joy of creating importantly, innovation is 2030 by being a proactive par- working proactively with its a customer experience and reflected in the art of customer ticipant in the socio-economic customers to not just achieve maintain that relationship communication.” growth of the country,” Chedid their insurance objectives, over the years is a reflection of With such a forward-think- explains. “This requires creat- but also to promote their Seib values and culture that ing approach to doing busi- ing success stories for the long-term growth and profit- promotes innovation in every ness, Seib has been making a insurance industry, while be- ability, is what has caused the aspect of the sense. Innovation concerted effort to participating an active member in the >>>

12 Entrepreneur december 2015 december 2015 Entrepreneur 13 innovator

Seib Insurance & Reinsurance accepting the Insurance Innovation award development of local talent, volume needed to balance “Our short-term and long-term either directly within Seib, insurance penetration against or by being active in CSR, large corporate elements. The goals coincide in continuing to supporting initiatives through driving factors for continuous service our clients at the highest organizations such as Qatar growth are primarily driven by service standards possible through Finance & Business Academy regulatory measures, repre- transparency and integrity to (QFBA), INJAZ Qatar and oth- sented by mandatory programs maintain a profitable growth, while ers. In addition to the support such as health insurance. If extended to Qatari individuals we consider health insurance focusing on the Qatar National and institutions, Seib is also alone, we estimate that it may Vision for 2030 by being a proactive an active member in the expat have a positive impact of 40% participant in the socio-economic communities’ social programs, on insurance penetration.” growth of the country.” thereby complementing the Chedid notes that the role socio-economic cycle to in- of the insurance industry in clude expat residents.” an economy is dependent on tection it provides to individu- expand the regulatory rules Seib’s efforts in improving several national factors, which als and families. In terms of platform in Qatar, under the its offerings and scaling up differ from one country to the risk reduction and mitigation, umbrella of Qatar Central its business are particularly other, span across a num- insurance acts as an extended Bank (QCB),” he says. “On the noteworthy when considering ber of sectors, and are also reserve capital to businesses, other hand, implementation of the current state of Qatar’s reciprocal to the local culture. regardless of size. As for de- mandatory insurance pro- insurance market. According “One of the measurement velopment and optimization of grams through private insurers to an October 2015 report by indicators on its impact on insurance role in an economy, establishes for an important global credit rating agency the local economy is insur- this is a dual role for govern- part of risk mitigation in Moody’s, Qatar has the fastest ance penetration to GDP, ments and private sectors.” sectors such as healthcare. growing insurance market in which at the beginning of the In terms of Qatar though, Nevertheless, insurance is a the GCC, with a compound year did not cross 0.55% in Chedid considers its current contractual reinstatement annual growth rate of 20.7% Qatar compared to 1.4% for shift towards expanding the or recovery guarantee to between 2006 and 2014. Hav- the MENA region,” Chedid role of the private insurance individuals, businesses and ing said that, the country has a explains. “However, on the sector in the country to be a financiers, whether in their rather low insurance pen- other side, insurers do not positive one, with this being asset protection, transaction etration rate at just 1% of its operate in vacuum. We cannot implemented through regula- or contractual obligations. GDP- but even so, the report undermine the fact that insur- tory changes at both operating Accordingly, it goes without marked Qatar out to be the ance is stimuli to other sectors and risk management levels. saying that capital protection third largest insurance market and a facilitator to business “We see that the robust regu- for a startup’s or a small busi- in the GCC, with its premiums transactions, whether retail latory environment under the ness’ needs may seek solutions totaling approximately US$2.2 or wholesale, in addition to its Qatar Financial Centre (QFC) though insurance programs. billion. This essentially means role in the cost of living pro- is being capitalized upon to Seib has been active in this that there’s a lot of growth potential for this sector in segment, and will continue to both Qatari and multinational those of large corporates. The he says. “Do not eliminate that Qatar, and companies like Seib Seib Group do so.” institutions. But this is not to risk exposure in large organi- opportunity by petty savings are in a prime position to take Seib currently services cli- say that Seib has overlooked zations necessitates a different on insurance premiums. The advantage of this situation, ents from a variety of sectors, the SME sector- on the con- underwriting structure and cost of risk reduction through and capitalize on it as well. including construction, bank- trary, Chedid says the company solutions than SMEs. Large insurance is far lower than the “A growing economy, ing, transportation, healthcare, has several offerings catered risks require larger capital ca- risk of financial loss without matched with a growing education, hospitality, sports to this particular market. pacity and allocation, yet both insurance. To entrepreneurs, population, marked Qatar’s and more. Chedid claims “Indeed, Seib has products to require the same underwriting I say, we understand the pas- growth charts over the past that the company has writ- protect small as well as large discipline, from an insurers sion to thrive in what you do, few years,” Chedid says. “Such ten major programs, “some of company assets and liabilities; perspective.” because Seib has been there, indicators promoted promis- which are among the largest in those solutions have been in But given the cash crunch has seen it and is still living it. ing potential for the insur- the world.” Some of its major the market by Seib for a few that most startups and SMEs Protect your jewel. Insure that ance industry. Accordingly, clients require global health years, and we continue to in this region often face, can you get the best chain to hold insurance penetration was insurance programs, which update our offering based on one make a feasible argument it. We understand the effort, initially a reflection of the leads to Seib servicing them market needs,” he says. “We for why they should invest in a time and sweat required to premium growth generated in remote parts of the globe, have specific SME products, good insurance scheme? Che- build an organization to make from large and mega projects. while other customers require such as the office protection did rises up to the challenge, it stand out among the crowd As we progress into the com- large-scale directors and of- Maktabi scheme, small groups’ and is emphatic in stressing and succeed. Our team at Seib ing years, a balance would be ficers (D&O) and decennial health insurance, tailor-made why insurance is a must for has been assisting startups and created by other segments, liability programs, with the employee benefits schemes, small businesses. “You want SMEs to insure them and help such as retail and SME. Those company underwriting such and others. Some of those may to be profitable, then you have them stay visible, credible and would generate the premium complex programs to protect be very similar in its aspects to got to be credible and visible,” profitable.”

14 Entrepreneur december 2015 december 2015 Entrepreneur 15 Amro Ahmed, Qatar innovator Local Content and SME Manager, Qatar Shell

“Through its support of local SMEs, Qatar Shell aims to contribute significantly to the economic pillar of the Qatar The value of production in National Vision 2030 (QNV), while helping SMEs raise their operating standards in order to fulfill global requirements,” says Amro Ahmed, Qatar Local Content and SME Manager of Qatar Shell. “We believe that creating by supporting local SMEs, we are actively contributing to the Qatar National Vision 2030. Localizing elements of the national supply chain is one of sustainable the most important and effective methods of achieving this, as the private sector is of in- valuable significance to Qatar’s growing population and economy. Also, we are confident in impact the quality and capabilities of local suppliers currently in the market place and believe that Qatari SMEs awarded contracts providing them with opportunities makes good business sense and can add value to our by QDB and Qatar Shell operations.” Ahmed says that by work- Amro Ahmed talks economic development ing with and supporting local By Erika Widen companies, Qatar Shell is ensuring its business continu- ity through the development arlier this year, more than 150 Qatari SMEs attended of a robust supply chain, both the third annual Qatari SME Business Opportunities strengthened and streamlined, while also reducing risks. For Workshop, where more than 60 local SMEs showed instance, the operation of their interest to participate and compete. As a result, the Pearl GTL plant remains steady with a minimum down- more than 30 local SMEs were shortlisted to tender for time due to the shorter deliv- seven specific business opportunities offered by Qatar Development ery timings of locally manufac- E tured goods and services that Bank (QDB) and Qatar Shell– collectively worth an estimated replace imported ones. Ahmed aggregate value of more than QR15 million. strongly believes SMEs are key to fostering a robust private sector that will reduce the Qatar Shell Pearl GTL, The successful SMEs will be burden on the public sector the largest GTL plant in the world awarded with contracts this employment and help diver- month to become part of the sify Qatar’s economy. “In his supply chain for Pearl GTL, the foreword of the Qatar National world’s largest gas to liquids Vision, His Highness the Emir plant delivered by Qatar Sheikh Tamim bin Hamad Al Petroleum and Qatar Shell. As Thani, says Qatar must invest part of a nationwide strategy in world class infrastructure to to support Qatari SMEs, Qatar create a dynamic and more di- Shell partnered with QDB to versified economy in which the promote and accelerate the private sector plays a promi- development of the private nent role. Therefore, making sector in Qatar. business opportunities >>> qatar shell pearl image © www.shell.com.qa © image pearl shell qatar

16 Entrepreneur december 2015 december 2015 Entrepreneur 17 innovator

supply chain,” adds Ahmed. able contributions to posi- tionally, through TAFAWOQ, By way of example, Ahmed tively impact Qatari society. Enterprise Challenge Qatar Teaming up with SMEs! illustrates the following as a As the largest international program, university partner- Opportunities offered by Qatar Shell to SMEs in 2015 quick update of one of 2013 investor in Qatar, Qatar Shell ships and Road Safety initia- business opportunities. Qatar works in partnership with tive, Qatar Shell is contrib- 1. Manufacturing Safety 5. Onsite technical support Industrial Equipment (QIE), Qatar Petroleum to develop uting to the development of boards and electrical labels Welding inspectors winners of Personal Protective the country’s energy indus- a knowledge-based society, Qatar Shell requires a local supplier Qatar Shell is offering a business Equipment (PPE) business op- try providing a significant thus positively influence the to manufacture safety signs for opportunity related to welding portunity in 2013 received ac- contribution to the economic country. The social develop- onshore and offshore facilities for inspection services. creditation for their own safety pillar of the QNV 2030. ment pillar of the QNV203 its Pearl GTL plant. standards by applying OHSAS “Through our Corporate emphasizes the importance 6. Manufacturing 18001 standards, followed by Social Responsibility (CSR) of a good quality of life, social 2. Services Cafeteria and and maintenance Fire international accreditation for programs we seek to go support and protection for catering for staff and events extinguishers product quality and design in beyond philanthropic dona- all of Qatar’s citizens. Qatar Qatar Shell wishes to enhance its Qatar Shell is offering a contract 2015– after complying with tions, to contribute strategi- Shell therefore supports this staff cafeteria and food services. for the local manufacturing, Pearl GTL’s safety standards cally with our partners to pillar through its Road Safety The scope requires opening a inspection and maintenance of fire in 2014. As a result of these the QNV 2030 in ways that and KOORA TIME initia- cafeteria that will provide food extinguishers of various sizes. achievements, QIE started de- generate measurable social tives. “Finally, as a long-term and beverage for more than 700 livering to Pearl GTL and also impact and link to our core investor, Qatar Shell seeks employees based in the Doha Shell 7. Social media management raised their profile to a level business strengths. We to create a positive legacy– a office. Social media contract that brought interest from therefore look for opportuni- contribution to the Qatar Qatar Shell launched its Twitter prospective companies locally ties to distinctively contrib- National Vision 2030 that 3. Services Custody flow account in late October 2013, and regionally, allowing their ute our innovation or other we and our partners can be meter calibration and its Instagram account in May expansion by way of a new fac- areas of expertise such as proud of.” Qatar Shell and In order to ensure accuracy, Qatar 2015 and is offering a contract for tory in Sharjah, United Arab project management skills QDB invest a great deal of Shell requires the maintenance of management of its social media Emirates, and a sales office in in addition to any financial time, energy and effort into water, ultrasonic gas and ultrasonic platforms. Saudi Arabia. “Now in its third support.” supporting the SME sector, liquid meters at the Pearl GTL year, we have increased the The company’s programs which they have identified plant. number of the business oppor- include The Qatar Shell as personifying a crucial tunities to seven, again due to Research Technology Centre, element in Qatar’s future 4. Manufacturing Stud bolts the significant increase in the which provides research and success. “In addition to the Qatar Shell requires an SME to number of Qatari SMEs and innovative solutions to en- advisory support and finan- manufacture stud bolts in Qatar entrepreneurs demonstrating ergy and environment chal- cial incentives provided by for the Pearl GTL plant. their interest,” says Ahmed. lenges faced by Qatar. Addi- QDB, Qatar Shell provides >>> The successfully awarded local companies are given between 12 and 18 months, if needed, in which to build their capacity to handle the contracts. available to the local private “we have increased the ate profits back into the Qatari It’s also worth noting that sector is a strategic decision number of the business economy. In 2013, Qatar Shell this year Qatar Shell and QDB for Qatar Shell, and one that opportunities to seven, signed an agreement with QDB won the Social Development directly contributes to the again due to the sig- to provide Qatari SMEs access Center’s Reyada Outstand- economic pillar of the Qatar nificant increase in the to business opportunities at ing Entrepreneurial Sup- National Vision,” reiterates number of Qatari SMEs the Pearl GTL. More than 100 port Award for their role in Ahmed. Specifically, the initia- and entrepreneurs local SMEs and entrepreneurs developing Qatari entrepre- tive is about localizing Qatar’s demonstrating their participated in the first work- neurs and SMEs. “This award supply chain to help diversify interest.” shop where attendees were is a clear demonstration of the Qatari economy and reduce also briefed on Qatar Shell’s this successful partnership in the reliance on international 2013,” he adds. In addition to tendering process, the chal- developing Qatar’s economy trade and employment. this, Qatar Shell and QDB pro- lenges and opportunities in the and private sector, as well as “We are proud to see a vide Qatari SMEs with invalu- SME sector, and the financial delivering sustainable contri- significant increase in the able knowledge and expertise, support made available to butions to positively impact number of Qatari SMEs and resources, networking capa- them by QDB. “Following the Qatar.” Qatar Shell is wholly entrepreneurs who are show- bilities, associations, mentor- launch of the first Qatari SME committed to supporting the ing interest in joining Qatar ing, support and access to Business Opportunities Work- QNV 2030 in each of its four Shell’s supply chain, largely national and regional markets. shop, three local SMEs were pillars, social, human, envi- due to the successful stories In other words, SMEs have awarded with contracts; and in ronmental and economic, by of the awarded SMEs, since the potential to grow beyond 2014 five new local companies working with Qatari partners the launch of the initiative in national success and repatri- were added to Qatar Shell’s to create and deliver sustain- Lara Koujou, Social Investment Manager at Qatar Shell seen here as part of a panel discussion around the subject of Women & ICT: Skillbuilding, Training and Trends, and the Role of Social Media at the 7th Arab International Women’s Forum (AIWF) in Doha, Qatar. www. shell.com.qa www.

18 Entrepreneur december 2015 december 2015 Entrepreneur 19 innovator

the awarded local companies the utmost importance that with a period of 18 months, if every one of our suppliers and needed to build their capac- contractors is as committed to ity to handle the contract safety as we are at Shell– en- awarded to them.” suring that absolutely nobody In addition, Qatar Shell comes to harm as a result of provides an on-going support our business.” Ahmed further and assessment to ensure adds that to see the evolution- the company will provide the ary process of SMBs flourish- required quality services. ing with their help is extreme- “Also, a large part of winning ly rewarding: “This initiative Shell’s business is the ability is more than just a question of to adhere to our technical financial gain and the value of and Health, Safety, Security, tenders; it’s about the value of and Environment (HSSE) production and the sustain- standards. It is therefore of able impact it creates.”

Pearl GTL uses technology that of R&D is a culmination of innovation 40 | in pictures | YEARS Enterprise Challenge Qatar 2015 Qatar Shell and Bedaya recently announced 22 university semifinalists for the 2015 Enterprise Challenge Qatar. It is At the peak of construction, an annual competition which encourages the entrepreneurial spirit among the youth in Qatar. The successful teams from 52,000 each of the 13 participating universities will compete on workers were deployed an entrepreneurship computer simulation, which seeks to evaluate the teams’ performance on running their business in a competitive marketplace over a three-year period. In Overall, it has taken the team addition, the six top teams with the highest net profit scores will present their sustainable business pitches to a panel of 500million judges to select three winning teams. man-hours to design The 2014 Enterprise Challenge Qatar received special and build PEARL GTL praise and recognition during the U.K. Mentor of the Year Awards hosted by HRH The Prince of Wales at Sandringham Palace in the United Kingdom. Earlier this year, Qatar Shell To build this, a total of That's enough to construct and Bedaya also won Social Development Center’s Reyada 750,000m³ 2 Burj Khalifas* ‘Outstanding Entrepreneurial Support’ Award for their role in of CONCRETE (the world’s tallest building) supporting Qatari entrepreneurs and SMEs including through was poured the Enterprise Challenge Qatar. The Enterprise Challenge program was originally created by Mosaic, a U.K.-based not-for-profit organization established by HRH The Prince of Wales in 2007, with a range of mentoring programs aimed at With these resources, Shell partnered In fact, it's the largest fostering opportunities for young people. with Qatar Petroleum to build one GTL PLANT of the world’s largest, most complex in the world** and challenging energy projects

Pearl GTL draws gas from Qatar’s That’s an estimated North Field, estimated to hold

900 trillion of the cubic feet of gas world’s total***

Built“The in storypartnership of Pearl with GTL Qataris an inspiring Petroleum, one the - not Pearl just becauseGas to Liquids of its pioneering (GTL) is thetechnology world’s largest and innovation, GTL plant andand notone simply of the because world’s largest,of its sheer most scale complex and complexity, and challengingbut also because energy ofprojects the extraordinary ever commissioned. diversity of talented men and women who came together to deliver and operate this remarkable project.”

WAEL SAWAN Director and Chairman of Qatar Shell Companies 20 Entrepreneur december 2015 1 PROJECT 1 TEAM

Sources *http://www.burjkhalifa.ae/en/TheTower/Construction.aspx **http://www.shell.com/global/aboutshell/major-projects-2/pearl/largest-gtl-plant.html ***http://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=3&pid=3&aid=6 Wissam Younane Organized by Entrepreneur years, your startup award may addressing the MENA, the 2015 Qatar Enter- become an even larger distinc- assembly on behalf prise Agility Awards recognized tion, and as part of the entre- of BNC Publishing and honored enterprise leaders preneurial ecosystem we will be and individuals who have waiting and watching, and yes, distinguished themselves and supporting your growth.” shown sector significance and The Enterprise Agility outstanding business conduct Awards, Entrepreneur of the QATAR across a variety of industries Year seeks to acknowledge agil- that are key drivers of respec- ity across a variety of industries tive Middle East’s economies. including retail, healthcare, On behalf of the Qatar Chamber construction, hospitality, of Commerce & Industry, Vice aviation, education, banking, Chairman Muhammed Ahmed and energy, amongst other key Bin Towar Al Kuwari presented drivers of the Middle East’s the awards to the 2015 Enter- economy. “BNC Publishing, via prise Agility Achievers. “Some our Entrepreneur of the Year Enterprise of the companies here with us awards, and with the support n the occasion of the by showcasing a commitment are from the original Qatari of the respected Qatar Chamber second annual Qatar En- to excellence and thereby rais- entrepreneurial ecosystem, and of Commerce, seeks to continue Oterprise Agility Awards, ing the bar of their respective some are the new pillars upon to celebrate you, the business- Entrepreneur of the Year pre- industries. Speaking on behalf which tomorrow’s economic people who inject vibrancy sented by du, BNC Publishing as of Entrepreneur, Wissam You- drive rests- these junior achiev- and drive into this economy,” part of the Entrepreneur MENA nane, Director, BNC Publish- ers, our Qatari startups here Younane added. “I extend my franchise, awarded businesses ing, felicitated the winners by with us tonight, and the enti- sincere appreciation to our and individuals across multiple saying, “Being an Enterprise ties that make their steps for- partners for your ongoing Agility categories on November 8, Agility Achiever means that ward possible,” Younane said. support, and I salute tonight’s 2015 at The Ritz-Carlton Doha your methods, your strategies “Startups, we see you, and we Enterprise Agility Achievers. in Qatar. The relevant Enter- and most of all, your execu- recognize your work. In a few Shukran Qatar.” >>> prise Agility Achievers have tion sets a standard for all the established themselves as clear other entities operating in your industry innovators who have sector. You are the business made significant contributions trendsetters; you are the bar to both the Qatari and the Mid- that companies strive to reach. dle East business arena, and set It is our mission at Entrepre- Awards 2015 the benchmark for corporations neur to highlight these excep- operating across the region. tional achievements. Those who A total of 20 awards were pre- want to be a proactive part of sented, with all of the winners the Qatari economy can strive having set themselves apart to emulate your demonstrated from their peers in the region abilities.” in association with

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ECOSYSTEM ALLIES GOLD ALLY SILVER ALLY

The winners of the 2015 Qatar Enterprise Agility Awards

22 Entrepreneur december 2015 december 2015 Entrepreneur 23 Enterprise Agility Stephen Marney, Awards 2015 Master of Ceremonies, addressing the assembly Contribution to Business Muhammed Ahmed Bin Towar Al Kuwari Retail Achievement Fifty One East Hospitality Innovation H.E. Sheikh Faisal Bin Qassim Al Thani Diversified Portfolio Jaidah Group SME Banking Innovation Qatar Development Bank Retail Banking Innovation Qatar Islamic Bank Investment Banking Innovation QInvest Islamic Banking Innovation Qatar International Islamic Bank Education Innovation HEC Paris in Qatar Dar Al Sharq Media Innovation Dar Al-Sharq accepting the Media Insurance Innovation SEIB Insurance & Reinsurance Company Innovation award Real Estate Innovation Alfardan Properties Energy Innovation Kahramaa Logistics Innovation Expeditors International Telecommunications Innovation Ooredoo Qatar Human Capital Development Bedaya Social Entrepreneurship Silatech Entrepreneurial Ecosystem Development Qatar Business Incubation Center Mobile App of the Year Evently Startup of the Year I Love Qatar Network

Alfardan Properties Evently accepting the accepting the Real Estate Mobile App of the Year Innovation award award

Muhammed Bin Ahmed Bin Towar Al Kuwari, Vice Chairman, Qatar Chamber of Commerce and Industry, accepting the Contribution to Business award

Jaidah Group accepting the Diversified Portfolio award

Ooredoo Qatar accepting the Telecommunications Qatar International Innovation award Islamic Bank (QIIB) accepting the Islamic Banking Innovation award

24 Entrepreneur december 2015 december 2015 Entrepreneur 25 Enterprise Agility Awards 2015 Muhammed Bin Ahmed Qatar Business Bin Towar Al Kuwari, Incubation Center Vice Chairman, Qatar QBIC accepting Chamber of Commerce the Entrepreneurial and Industry, addressing Ecosystem the assembly Development award

Expeditors International accepting the Logistics Innovation award

I Love Qatar accepting the Startup of the Year award

Silatech accepting the Social Entrepreneurship award

Fifty One East accepting the Retail Innovation award

Qatar Islamic Bank Qatar Development (QIB) accepting Bank (QDB) accepting the Retail Banking the SME Banking Innovation award Innovation award

Bedaya Center for Entrepreneurship and Career Development accepting H.E. Sheikh Faisal the Human Capital Development award Bin Qassim Al Thani, Hospitality Innovation, accepted on his behalf

Kahramaa accepting the Energy Innovation award

Seib Insurance & Reinsurance accepting HEC Paris in Qatar the Insurance Innovation award accepting the Education Innovation award Entrepreneur Qatar Editor-in-Chief Fida Chaaban

QInvest accepting the Investment Banking Innovation award

26 Entrepreneur december 2015 december 2015 Entrepreneur 27 Enterprise Agility off the site, I would need to come ing a good location and decent Awards 2015 up with a plan for expansion and lease, adding to the difficulties reach a critical mass; since grow- to acquire high-quality ingredi- ing a brand takes time, many ents and the difficulties faced to investors didn’t want to wait,” import goods. “Want to set up an he remembers. “I am glad that I online business? Payment gate- Startup of the Year didn’t take any investment now ways are expensive, many banks though, [because] some of the don’t allow customers to use I Love Qatar same institutions I asked years debit cards online, leaving credit ago now ask me for support.” cards as the only option, and only Founder and CEO Khalifa Saleh Al Haroon In light of a promising future a small percentage of the popula- for entrepreneurs, Al Haroon be- tion have one.” Al Haroon agrees he I Love Qatar network was setting up the enterprise in lieves that SMEs are crucial for that these challenges can be met kind of just happened,” 2008. “I built the first version any sustainable economy, since, as long as smaller businesses says Khalifa Saleh Al of ILoveQatar.net on my own, around the world, SMEs con- demonstrate that there is a need Haroon, as he remem- learning as I went along– in tribute to employment growth for change, and then things Tbers the origins of his company, a tiny room behind my Dad’s at a higher rate than even bigger will happen. “You can’t fight which won the Startup of the home. Sadly, whether you are a organizations. “Globally SMEs progress. Of course, this is just Year title at the 2015 Qatar traditional business or not, you contribute to anywhere between based on my opinion and obser- Enterprise Agility Awards. still have the same requirements 50% to 80% of the workforce. vations.” The young entrepreneur “There was no master plan in from the Ministry of Economy Qatar is investing heavily in a strongly believes that the coun- the beginning. However, as I saw and Commerce, and the Ministry knowledge-based economy; we try’s National Vision 2030 is the potential of what I had, it of Business and Trade.” The want people to be independent what helped enable his ventures evolved into a great media chan- founder explains that he had to and to reach for the stars. To to exist. “I believe my projects nel. My sights grew to online, come up with QR200,000 of do so, SMEs are most definitely touch upon all the pillars of the content creation, either building capital and get a physical office needed.” He also adds how small- 2030 vision; they are economic, or acquiring websites within my space, “even though I didn’t er businesses take risks, promote social, environment and human network, or even expanding into need it, and [I also had to] pay competition, and contribute to development.” In addition, he video content and radio.” With for licenses, which I wasn’t sure society at a micro-level. “There highlights how when he invests the I Love Qatar network today I needed either. However, doing are loads of organizations that in either projects or businesses, encompassing websites like Qa- that made my website one of the have been set up to educate and he always asks the person he tar News, Qatar Events, Dine Out first legally operating websites inspire young entrepreneurs, and will partner with to invest at Doha, and YouTube shows like in the country.” Al Haroon also we see special competitions that least 10% of the overall profit to QTips, Mr. Q Visits and Karak recalls going to several banks try to kick start projects in the support charitable causes or the Time, the charismatic Al Haroon and governmental institutions to country, so, the entrepreneurship community. “I’m proud to give –a digital influencer in his own inquire for support and funding. energy is in the air.” But, he does back to the country that’s given right- today heads an online “Sadly, it was hard for them to acknowledge the difficulty of me so much,” he says. business that enjoys the status of wrap their head around a busi- accessing commercial spaces in So what’s Al Haroon’s advice being one of the country’s most ness that didn’t sell anything Qatar in addition to the high cost for those interested in getting popular homegrown brands. and just generated revenue off of rent. “Setting up a business into the world of startups? First, But starting up I Love Qatar advertising.” However, Al Haroon can be costly and confusing, and he says that focus is needed: pick was a much less glamorous underlines that with I Love Qa- honestly, doing business in Qatar a niche, select a demographic, affair- Al Haroon admits chal- tar, it was never his goal to just isn’t very easy.” and provide a solution or product lenges were aplenty when he, make money off the enterprise. For instance, setting up a res- that fills a need. Secondly, at the time in his early 20s, “I knew that to generate revenue taurant is difficult, such as find- ensure one’s business is scalable. In other words, Qatari ‘treps should ask themselves: can your business grow outside of Doha, the Gulf region and the Mid- dle East? But before doing so, decide if growing your business is something you want to do. “I know some people who set up a couple of restaurants and are happy with the income they generate,” Al Haroon says. “This brings me to the third point– do what makes you happy. We’re constantly told what to do, what to say and how to think from the moment we’re born to when we get our first job. Most entrepreneurs realize that they don’t have to do what they don’t want to do, and that thinking leads to some of the world’s best innovations.”

28 EntrEntrepreneurepreneur ddecemberecember 2015 Enterprise Agility

Forum 2015 SUPPORTED BY PLATINUM ALLY PLATINUM ALLY PLATINUM ALLY The Entrepreneurial

ECOSYSTEM ALLIES Continuum in Perspective GOLD ALLY GOLD ALLY SILVER ALLY An Industry Intel event

ntrepreneurs and entrepreneurial Chaaban addressed the assembly first by startups structuring business models that ecosystem pillars came together discussing the importance of pulling in have the potential to scale across the region Manager, Small, Midmarket Solutions was headlined by Lina Hourani, Director Development, Sam Quawasmi, co-founder at the Westin Mina Al Seyahi in the outliers of MENA’s entrepreneurial and beyond. The second fireside chat took and Partners, Middle East and Africa of Al Ahli Holding Group CSR division, and Managing Director, Eureeca, and Essa Dubai, UAE on November 22, 2015 ecosystem, and encouraging the forum’s place with Sonia Weymuller, co-founder for the Microsoft Corporation, Talal El- Loulou Khazen Baz, founder and CEO of Ali Bin Salem Al Zaabi, Senior Vice Presi- forE the second annual Enterprise Agility attendees to be as interactive as possible in of VentureSouq. Weymuller, who spoke Khalil, General Manager and Senior Vice Nabbesh, Joshua Rajkumar, co-founder and dent of Support Services, Dubai Chamber Forum presented by du, which featured the half-day knowledge-exchange, not just on angel investing in the region, explained President, PepsiCo MENA, Frida Kleimert Chief Operating Officer, The Sustainability of Commerce and Industry. some of the region’s most prominent lead- through networking, but also with real- what entrepreneurs need to know when Knibbs, Head of Channel and Commercial Platform, and Soushiant Zanganehpour, The 2015 Enterprise Agility Forum pre- ers sharing their insights with the 200 time social media. trying to capitalize on this particular fund- Sales for Cisco UAE, and Jose Valles, Vice founder and Director, Tribeca Impact Part- sented by du was conducted with the sup- attendees of the half-day conference. Two fireside chat format conversations, ing opportunity. Both fireside chats were President- Enterprise, Commerce, New ners. The third and final panel of the event port of the Dubai Chamber of Commerce The Enterprise Agility Forum, the fifth the voices of entrepreneurship, were held followed by question and answer segments Business and Innovation, du. The second revolved around financial literary, funding and Industry and Tejar Dubai, together event staged under the Entrepreneur to respectively deeper explore investments with the audience. discussion for the day brought forward and strategic steps toward seeking capital with Platinum Allies Egyptian Steel, EPG Industry Intel banner, began with open- and business models. The first of these The first of the Talking Series brought tenets of CSR versus social entrepreneur- injections under the title of Calculating Hotels & Resorts, AxiTrader, Gold Allies ing remarks by Entrepreneur Middle East took place with Ramez Mohamed, CEO of forward ideas under the title of Size ship, and how even startups can undertake Trajectory: Capital injection routes to (vi- Medeor Hospital and Skyline University Editor-in-Chief Fida Chaaban, and was co- Flat6Labs, who pointed out the importance Doesn’t Matter: Your small enterprise can sustainable initiatives. Under the title ably) scale your enterprise with panelists College, Silver Ally Select Property Group, moderated by her and Entrepreneur Middle of entrepreneurs really having an accurate operate like a multinational, which had of Seeing the Bigger Picture: CSR, social Marwan Mohammed Al-Suwaidi, Director and Ecosystem Allies Wamda, MEC, and East Managing Editor Aby Sam Thomas. idea of their local competition, and on as its panelists Chris Bartlett, General enterprise and your business, the panel of Finance, Khalifa Fund for Enterprise The Venture. >>>

30 Entrepreneur december 2015 december 2015 Entrepreneur 31 Enterprise Agility Forum 2015 The Entrepreneurial Continuum in Perspective

An Industry Intel event

2. Don’t underestimate is way more important than rate executives are changing no matter what the size. Luck- the power of your hiring a team of specialists. that perception. The founder ily for us, just like production startup’s “personality” You want to hire the engineer and CEO of Nabbesh, Loulou and revenue, social respon- One of the greatest things who is also a painter or the Khazen Baz, recently launched sibility is also scalable. With Business about being an entrepreneur is interior designer who is also a Fursati with Qatar-based NGO the creative license that comes math professor, because they Silatech. Fursati is a campaign with the position. In fact, the represent the versatility and to connect Palestinian youth learning curves unique narratives, presenta- the ingenuity that successful with dedicated freelance option and customer service of startups thrive on. While most portunities online. Not only 13 points of reference that you can put to work startups are the very things people measure ROI in financial is Fursati allowing Khazen that make them stand out in a terms, I believe that, in the fu- Baz to leverage her company’s By Soukaina Rachidi crowded business ecosystem. In Talal El-Khalil, General Manager and Senior ture, it will be measured by the marketplace, it’s also benefiting for your enterprise Vice President, PepsiCo MENA a digital world where consum- @talalelkhalil “return” that the “right” people the disenfranchised Palestinian ers are constantly bombarded bring to your team. So, make youth in Gaza and West Bank: n the past, small compa- that startups need to avoid with information, a business’ strive to establish a startup sure you choose team mem- a perfect example of the mutu- Joshua Rajkumar, Chief Operating Officer, nies used to try to emulate if you want your business personality often becomes the with a strong personality and bers who will bring the best ally beneficial relationships The Sustainability Platform the business practices to maintain an edge on big only determining factor when culture of sustainable and ethi- financial, ethical and creative that businesses are capable of @joshrajkumar of corporate giants like corporations, and a few other a consumer has to choose cal business practices that can “dividends” for your company. establishing, if they are willing Virgin, Google, and Ap- salient points gleaned from the between two similar products grow with the company. to do so. that in mind, I believe that it Iple. Nowadays, the tables speakers at the second annual or services, thereby making the 4. Don’t think you’re too is our responsibility to start have turned. More and more edition of the Enterprise Agility preservation of a company’s 3. Don’t underestimate small to make a difference nurturing cultures of “scalable entrepreneurs are looking Forum. persona and ethos a key part of the value of your team When most people think about compassion” in our business to one another for inspira- its survival. In a world where customers CSR, they usually think about ecosystems. tion, and they’re not the only 1. Don’t think that size So, what does a startup’s are overwhelmed by choice, a big companies, which makes ones. According to many of and impact are directly Christopher Bartlett, General Manager, personality entail? It includes startup’s personality is often sense because the C in CSR 6. Don’t be afraid to the panelists at Entrepreneur proportionate Small, Midmarket Solutions and Partners, everything from why you the only thing that sets it apart does stand for corporate. While introduce new cultures of Middle East’s 2015 Enterprise Can a startup be like a multina- Middle East and Africa, Microsoft started your business, to how from the rest. So, how can you this acronym has come to be thinking Corporation Agility Forum presented by tional? Absolutely. In fact, be- you source your materials, to create a startup personality the blanket term used by the If you were to ask an entrepre- du, an increasing number of ing a startup in the Conceptual lowed startups to scale globally who your partners are, to how that will attract customers to business community to refer to neur in the MENA region today multinational corporations are Age is ideal, because they are and compete with established you bring value to your custom- your product or service? Make all the goodwill exercises ex- what their two biggest fears Lina Hourani, Director of Al Ahli Holding trying to learn how startups are agile in almost every respect. international brands in ways ers and the market. As the sure you have a great team. ecuted by companies, I believe Group CSR division were, they would probably say driving innovation, promoting One of the biggest drawbacks that were never possible before. old saying goes, show me who According to Ramez Mohamed, that it needs to be amended. @CSRalahligroup the inability to find funding, happier workplaces and inte- of being a multinational is In the age of the Internet, the your friends are and I’ll show the CEO of Flat6Labs, your My biggest grievance with the C and the difficulty in getting grating CSR efforts into their bureaucracy and endless red size of a company no longer you who you are. This goes team is the most important in CSR is that it doesn’t reflect 5. Teaming up is beneficial people to adopt their service business models. Throughout tape. Usually in a MNC, by the defines its impact; a fact that for people and businesses. For aspect of your startup. Why is the amazing social impact that for everyone- your or product. Unfortunately, the event, it was interesting to time a decision on anything has got both startups and Frida Kleimert-Knibbs, Head of that? Because consumers don’t countless SMEs are having business and their skepticism, as I have discussed see how one question seemed has gone through the appropri- MNCs thinking about how they Channel and Commercial Sales want to deal with faceless con- across the globe. Once upon a business before, is rampant in Arab to be posed over and over again. ate channels to be approved conduct business. And this is for Cisco in the UAE, choosing glomerates anymore. We live in time, unless you were a charity, Many people believe that culture. For some reason, Arab What is the question, you ask? by the necessary people, it has precisely why corporate execu- your partners and maintaining an age where we are bombarded NGO or MNC, implementing a corporate success must come consumers have an inher- What should a startup avoid already become irrelevant. tives like Talal El-Khalil, the positive business relation- on a daily basis with informa- social program didn’t seem fi- at the expense of communities ent distrust of “homegrown” when… Or in other words, However, in a startup, this isn’t General Manager and Senior ships is vital when it comes tion, which makes it difficult to nancially feasible or necessary. or the environment, but this is solutions to pressing regional what are multinationals doing the case. Not only does the lean Vice President of PepsiCo in the to reaffirming your business’ create a meaningful connec- However, a new generation simply not true. In fact, many problems. Consequently, Arab wrong or inefficiently and how structure of a startup allow MENA region, are looking to personality and promoting your tion with anyone, let alone a of entrepreneurs and corpo- corporate executives, like Lina entrepreneurs with innovative can startups do it faster and entrepreneurs to be “closer” to operate their enterprises more strategic growth. Ultimately, company. Subsequently, unless Hourani, the Director of Al Ahli ideas often struggle to survive better? With that in mind, I their customers, it also allows like SMEs. entrepreneurs should always your startup and your team can Holding Group’s CSR division, in MENA markets. >>> have identified some things them to be more aware and leave a lasting impression on are trying to play an active role responsive to sudden changes consumers, they simply won’t in counteracting this mentality. Fida Chaaban, Editor-in-Chief, Entrepreneur Middle East in consumer behavior. This survive. The Global Business Opportu- @fida thus allows entrepreneurs to In addition to bringing valu- nities program, a program that continuously engage in an on- able skill sets to the table, team helps Al Ahli Group identify going cycle of idea adaption and members also need to add business opportunities and implementation, which is key . value through their ethics and develop entrepreneurs, is yet when it comes to promoting in- personality. After all, what’s the another great example of how novation, growth and customer point of having a brilliant coder the attitude towards social satisfaction. or accountant, if they can’t responsibility is changing in The size of a startup is not the think creatively or they don’t the corporate world. CSR (or only thing that allows a startup value the importance of social Business Social Responsibility to be “closer” to its customer. responsibility? To survive in Essa Ali Bin Salem Al Zaabi, Senior Vice as I would like it be referred to President of Support Services, Dubai Sam Quawasmi, Managing Director and Internet, smartphones and the current startup ecosystem, Chamber of Commerce and Industry henceforth) should be the mo- co-founder, Eureeca other technologies have also al- Ramez Mohamed, CEO, Flat6Labs @ramezm hiring a team of “generalists” @EssaAlzaabi dus operandi of every business, @eureecasam

32 Entrepreneur december 2015 december 2015 Entrepreneur 33 Enterprise Agility Forum 2015 The Entrepreneurial Continuum in Perspective

An Industry Intel event President of Support Services becoming more and more com- the MENA region to engage in at the Dubai Chamber of Com- petitive by the day, entrepre- business and social activities merce and Industry, SMEs neurs should always resist the that benefit local and global represent 95% of the Dubai urge to jump on the “popular- communities and work forces. Chamber’s members. However, ity bandwagon” to make a liv- do they make up 95% of the ing. Regrettably, the business force that is driving Dubai’s ecosystem in the Arab world is economy? Probably not. If greatly affected by “entrepre- Arab countries, like the UAE, neurial group think.” In other want to promote a culture words, if somebody opened a that produces and accepts gourmet hot dog shop today entrepreneurship, we have to that took off, five or six similar start teaching our communi- shops are soon seen to surface Marwan Mohammed Al Suwaidi, Director of Finance, Khalifa Fund for ties about the importance of in the following months. Enterprise Development the ecosystem. Another example of a “sexy” entrepreneurial trend that’s 7. Build an entrepreneur- Jose Valles, Vice President Enterprise, However, there’s an important taken off recently is “so- Commerce. New Business and element of idea and process ial culture into existing cial enterprise.” Soushiant Innovation, du @josevalles49 innovation that entrepreneurs learning framework Zanganehpour, founder and often overlook. You can’t in- If we want to nurture an Director of Tribeca Impact 9. Don’t expand for the troduce new ideas to consum- entrepreneurial culture in Partners, dislikes the term, sake of expanding ers without creating a culture a country, then Marwan because he feels that it is often Almost every entrepreneur around them. Consumers Mohammed Al Suwaidi, the misused or overused by many starts a business with the goal have to understand why your Director of Finance at the startups. Think about it, why of growing. That being said, idea is important and how Khalifa Fund for Enterprise a startup’s growth should it adds value to their lives. Development, believes that never be haphazard or without For instance, by consistently courses on entrepreneurship cause. According to Joshua creating quality blog content must be integrated into the Rajkumar, co-founder and and interacting with their UAE’s educational system. In Chief Operating Officer of The audience, not only can entre- order to promote meaning- Sustainability Platform, it is preneurs establish a “culture ful and long-lasting change in important for a business to of need” around their product the MENA region, both our manage its growth and to make or service, they can also build citizens and entrepreneurs sure that it is not expanding a loyal following for it. need to learn how to promote for the sake of expanding. It But before we can start to cultures of change to adapt to is also vital for a startup to chip away at the culture of the ever-evolving demands of understand their product or skepticism that negatively the Conceptual Age. service and their existing and impacts entrepreneurship desired customer base, so they in the Arab world, we also 8. Be a trendsetter in can define what growth means have to focus on nurturing the entrepreneurial Sonia Weymuller, co-founder, for them. For some startups, VentureSouq more resilient entrepreneurs. ecosystem @VentureSouq growth might take on a more According to Essa Ali Bin While it is undeniable that the local character. For others, it Salem Al Zaabi, Senior Vice global startup ecosystem is does this category even exist? might be more international. Although it means well, it does Regardless of how or where unintentionally perpetuate the a startup grows, it is crucial idea that only a certain kind for an entrepreneur to set the of business can have a positive scope and their long-term ob- impact on society. At the end jectives, so they can plan their of the day, a social enterprise budget and future fundraising is a business just like any rounds accordingly. other. Perhaps it is time for us to retire this category from 10. You can leverage our “entrepreneurial lexicon” technology to take your and make BSR, leadership business regional (or and responsible governance global) the ethos of all businesses. By Chris Bartlett, the General replacing the label of “social Manager of Small, Midmarket enterprise” with “impact-driv- Solutions and Partners of the en,” we can encourage more Microsoft Corporation in the Aby Sam Thomas, Managing Editor, Entrepreneur Middle East @thisisaby startups and corporations in MENA region, strongly >>>

34 EntrEntrepreneurepreneur ddecemberecember 2015 december 2015 Entrepreneur 35 Enterprise Agility Forum 2015

The Entrepreneurial Continuum in Perspective 2 An Industry Intel event BUSINESS

and more young entrepreneurs SCHOOL Vice President- Enterprise, are seeking investments from WORLDWIDE Commerce, New Business and family members and friends. Innovation at du, believes that Some are even turning to online FOR one of the greatest advantages crowdfunding platforms to that a startup has over a larger campaign for money. Personal- EXECUTIVE corporation is its ability to ly, I think that crowdfunding is EDUCATION take and implement decisions a very interesting way to raise quickly. So, if you’re a startup money because such platforms FINANCIAL TIMES and you’re considering expan- encourage entrepreneurs to 2015 RANKING sion, make sure you keep two do several things. Firstly, the Loulou Khazen Baz, founder and CEO, Nabbesh things in mind. Firstly, you campaign profiles and videos @loulsk shouldn’t expand just because introduce entrepreneurs to the Frida Kleimert Knibbs, Head of Channel you think you should- expand pitching process and allows and Commercial Sales, Cisco UAE believes that technology has when the right opportunity pre- them to hone their skills in @FridaKleimert played a key role in allowing sents itself. Secondly, whether that. Secondly, giving perks business to scale and operate in you’re expanding into another to campaign investors allows allowing them to show future new markets. So now, startups neighborhood, district, city or entrepreneurs to build a com- investors how they have raised, no longer need to have the country, make sure that you can munity of loyal brand ambassa- handled, and spent money in resources of a MNC to oper- effectively scale your decision- dors and get valuable feedback the past. According to Sam ate like one. Having said that, making process, so you can on their product or service. Quwasmi, Managing Director it is necessary for a startup maintain the quality and agility Last but not least, crowdfund- and co-founder of Dubai-based to manage all aspects of their of your business. ing allows first-time entrepre- crowdinvesting platform Euree- company’s growth as they scale. neurs to build credibility, by ca, equity crowdfunding is com- Not only do entrepreneurs have 12. Don’t put all your monly misunderstood by many to be able to scale their busi- financial eggs in one entrepreneurs, but it can be a ness activity, they also have to basket very valuable way to raise funds be able to scale all of the talent, Once upon a time, there was for a startup. If you’re confident communications and resources only one way that people fi- in your startup idea, you know needed to keep their operations nanced an entrepreneurial ven- how much equity you’re willing running smoothly. ture: a bank loan. Nowadays, to give up and you’re looking young entrepreneurs are look- to build a community of truly 11. Capitalize on your small ing for new ways to fund their “invested” brand ambassadors, size as it is correlated startups, and one reason is that equity crowdfunding might just with agility many founders already have be the thing for you. Drawing on his experience student loans, car loans and 13. Remember, potential as long-term executive in more, and they just can’t bear Soushiant Zanganehpour, founder and the product and develop- the thought of taking on one Director, Tribeca Impact Partners investors are looking for ment business, Jose Valles, more loan. Consequently, more @soushiant a few key markers Regardless of who you’re pitching or what fundraising stage you’re in, there are three things you need to show any potential investor, says Sonia Weymul- ler, co-founder of VentureSouq. You must be able to show them Move your career upward with HEC Paris’ your past spending, a complete understanding of your future unique range of international Degree Programs expenditures, and a thorough (Executive MBA and Specialized Master in understanding of your current competition. If you can do that, Strategic Business Unit Management), the last thing you have to do is Open-Enrolment and Custom Programs for executives to make sure that your startup’s valuation isn’t unreasonably and companies in Qatar and the region. high. High valuations can scare away potential investors, thus jeopardizing future funding Contact: prospects, and that’s a definite [email protected] no-no for any venture looking to scale up. +974 4454 0161

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36 Entrepreneur december 2015

EME_HEC_203x273_Qatar.indd 1 19/11/2015 10:15 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

environment. It’s important to remember that not every culture is innovation-minded.

2. Where is your country’s competitive advantage? Countries need to determine where they have competitive advantages. Innovation needs to be focused in certain sectors, including services. The main drivers are spread of private sector driven global value chains (GVCs) and government-driven foreign trade agreements, such as Trans- Pacific Partnership (TPP). Supplier SMEs may need to undertake innovation as their customer Transportation network companies (TNCs) inno- vate and adopt new standards Promoting SMEs as key drivers and product specifications. of innovation and engines for global 3. What constitutes an enabling environment? trade and growth One that has a high ranking Some external and internal factors to consider on ease of doing business, high level of education and for your company’s success By Marc Proksch skills development, available finance in the form of venture nnovation has a wide range diverse network of stakehold- Six questions that help capital, government policies of meanings, and it is not ers, institutions, and users. to address the SME that support innovation necessarily linked to high Why is a strategy for innova- innovation conundrum and entrepreneurship and technology. In the case of tion needed? Simply because champion the free flow of SMEs, innovation may re- it allows SMEs to optimize 1. What type of climate is information and ideas, etc. quire changes in organiza- strengths and minimize weak- needed for innovation to Also, a market economy tional structure and culture nesses relative to competitors. happen? environment characterized by and refer to changes in A single set of recommenda- There’s a tremendous need for a high level of competition/ Iprocess and management and tions is not appropriate for all an entrepreneurial spirit and rivalry. A proper competition the kind of services rendered SMEs, as anyone will attest, mentality based on risk-taking, policy must be in place for rather than to new products. because their attributes and coupled with an enabling SMEs to thrive. >>> It also relates to improving environments vary consider- efficiencies in supply chains, ably but there is a wide range marketing and advertising, and of innovation options that can business operation models. serve different purposes at dif- Innovation, as a concept, also ferent times. applies to social entrepreneur- While no one option is ship and responsible business right for all SMEs, innova- practices. tion in products, processes, or Innovations for existing services of varying type and SMEs are usually incremental degree can be appropriate for rather than radical. Radical different SMEs in different innovations are pushed by new industry sectors or product startups commercializing new lifecycle stages. An important ideas. It’s important to remem- set of innovations relates to ber that innovation rarely services SMEs can provide in occurs in isolation; it’s a highly addition to the product they interactive process of collabo- deliver (e.g. maintenance and Marc Proksch (third from right) speaking on an SME innovation panel at Global Trade Development Week in Dubai, UAE ration across a growing and provision of spare parts).

38 Entrepreneur december 2015 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

4. What types of frame- market needs. However, this Creative adaptation of based small and medium en- works and schemas should requires investment of scarce technologies for terprises. It did so by building ‘Treps choice be in place? resources, and this also refers new uses a national network of a 1,000+ Nissan’s 2016 eighth gen Maxima Countries need to possess to investment in employee Productivity Promotion Cent- the necessary infrastructure skills and training. SMEs are The creation of dedicated ar- ers. They provide consulting, For those who are seeking both an interesting and a high to promote innovation-based flexible, so the capacity for eas, like Science and Technol- promotion, product testing, performance road experience, you’ll probably want to pay close SMEs. Provision of business innovation rests with product ogy Industrial Parks (STIPs) hiring, training and incubation attention to the eighth generation Nissan Maxima. The 2016 services is also important. customization, customer in- is an indicator of an enabling services to startups. edition, amped up and sportier than ever, looks good, feels good, Business development services timacy, and exploiting market environment for business While the Innovation Clus- and yes, is even a pretty peaceful ride for your traffic-heavy help effective access to laws niches. They do not depend on growth and inception. Good ters designated specific areas commutes to and from the office. How can sitting in traffic be (national and FTAs), account- scale. Linking SMEs to high examples from Asia are China’s of the countries where high made peaceful? The Active Noise Cancellation System keeps ing, taxation, regulations, technology FDI is next step. SPARK and TORCH programs. tech was to occur, it’s the the cabin comfortably insulated from the road rush, and setting market intelligence, training, This requires strengthening The TORCH Program created Technology Business Incuba- a positive mood is made easier when you choose the vehicle’s business development, finan- SME capacity in terms opera- Innovation Clusters by creat- tors (TBIs) located inside these Huawei headquarters ambient lighting option, paired with upgraded premium leather cial sources etc. tions, management, financing ing national STIPs, Software clusters where the startup seating with diamond-quilted inserts. You’re sitting pretty, and meeting standards through Parks, and Productivity Pro- companies physically reside. feeling good, and now it’s time to put that 2016 Maxima’s 300 5. Is your country’s accessing, adopting and motion Centers. In this region, Much like incubators world- National Incubators, hosting the existing competitors. SMEs horsepower to work- that’s 85.7 horsepower/liter, to be precise. established policy set up adapting suitable technolo- the Qatar Science and Tech- wide, they provide startups nearly 60,000 companies. should also consider branding, Get the most bang for your buck with its 3.5-liter VQ-series V6 to foster SME growth? gies. Technology refers both nology Park is a good example. with office space, free rent, (20% of the National Incuba- as it’s very important. Adop- engine, and performance-oriented Xtronic transmission that’s all Possible policy options include to hardware (physical assets) Another key part of China’s access to university technol- tors were privately-run and tion of RBC is also a priority. about stronger acceleration. For those who like to feel in control, establishment of high tech- and software (knowledge and cluster strategy was collabo- ogy transfer, etc. By 2011, there their percentage is steadily Clustering may help overcome you’ll appreciate the brand new D-Step shifting logic. Start your nology zones and incubator skills). SMEs that engage in ration between research and were a total of 1034 Tech- increasing.) In recent years, R&D, marketing, information engines, ‘treps! www.nissan-me.com programs, strengthening of R&D have higher chance to be business, as well as between nology Business Incubators Business Incubators have and financial bottlenecks by national and subnational in- innovative. large enterprises and tech- across China, including 336 as developed into diverse models. pooling resources and access to novation systems, investment For example, the Ministry of business development services. promotion agencies’ strategies Education and the Ministry The weakest link in an SME’s towards attracting high tech- Qatar Science and Technology Park of Science and Technology chain is often access to finance. nology foreign direct invest- teamed up to put 45 incuba- It often starts with SME ment (FDI); strengthening le- tors in universities. There are capacity to prepare solid busi- gal and regulatory framework, close to 100 specialized incu- ness plans, but here, online including intellectual property bators for companies founded opportunities for funding exist, regulations and competition/ by returned overseas Chinese such as crowding and equity anti-monopoly laws. Sectors scientists and engineers. There crowdfunding. Support can where barriers to entry are are a dozen sector-specific also be gained through seed low are more competitive, and incubators (a Biomedicine funding (such as InnoFund) therefore more innovative. Incubator in Shanghai, An and venture guide funds to as- Advanced Material Incubator sist and guide VC firms. 6. Is the establishment in Beijing, a Marine Technol- synergistic? ogy Incubator in Tianjin, etc.) Marc Proksch has Master’s National Innovation System These incubators are mostly Degrees from the Free University (NIS) refers to the complex clustered in the eastern coastal of Amsterdam in political science, and interactive web of knowl- regions, and disproportionate- international relations and from edge flows and relationships ly target TMT (Technology Me- the London School of Economics among industry, government dia and Telecom) and Biotech. in international political economy. and academia and making Some of the startups coming After working in the private sector them work systematically to out of these incubators have in the U.K. as a research analyst sustain innovation and science become large international at a management consultancy, he joined the United Nations in and technology development companies including Lenovo, 1990 in the Economic and Social efforts. The innovative perfor- Huawei, and Suntech Power. Commission for Asia and the mance of a country depends Pacific (ESCAP) in Bangkok. From to a large extent on how these A few focus areas for SMEs 2000 until 2010, Proksch worked NIS actors relate to each other to be innovative in ESCAP’s Trade Policy Section of as elements of a collective the Trade and Investment Division. system of knowledge and tech- There is a need for supply Proksch is currently Chief of the nology creation and use. chain management, access to Business and Development Sec- tion in the Trade and Investment Is your SME committed in the technology, investment in R&D, Division and manages the work right way? Innovative SMEs and financial management, of the Section in the areas of are aware of the capacities including working capital re- development of SMEs, promotion of the competition, and they quirements. Execute analysis of and facilitation of investment for have a good understanding of your SME market potential and development, and the promotion of responsible business practices.

40 Entrepreneur december 2015 december 2015 Entrepreneur 41 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

produce your content- some of the Bayt.com decided to highlight most popular videos online were inspiring and successful stories of filmed with a personal camera at various professionals from across home. What distinguishes many of the the Middle East. We wanted to most successful channels on YouTube, spread the positive message of how Spreading for instance, is that they upload new dedication and hard work go a long videos regularly, which keeps their way. This idea of sharing a message audience interested and engaged. of passion, dedication and hard Think of it like a friendship- you’ll be work culminated in two videos that much more engaged if you’re talking went viral straight away. One of the every day, not just once every six videos was by Jordanian band Tarab months. 3al 7atab, and the other by Kuwaiti the news rappers Sons of Yusuf. The recipe for a viral marketing campaign 3. Make your content timely Create a content plan that outlines every By Lama Ataya If you want your content to make tweet, Facebook update, and Instagram post. the jump to virality, it might be time Make sure you know what you’re launching, to brush up on your current events. and when. Create reply templates for all he Internet is a giant blank marketing canvas for your community managers so they know Three lessons from the #WhatsYourStory campaign By hooking into an existing Internet how to engage before the campaign is brands savvy enough to cut through the noise and find theme or popular topic, you increase launched. Create a publishing schedule so Lesson one stories are worth sharing Lesson three new ways to get consumers to listen up and join the the odds your content will be viewed you can see what content is going live, and Tie your brand to an and telling- let us help you Target the people and shared by those already interested when. The key is to plan your marketing conversation. And while coveted by all, viral content is according to your content and KPIs. emotional message share your story.” who will share your in the topic. This can be anything no easy feat. In fact, while highly sharable content can If strong emotional content from a current world event, to a pop Entitled What’s Your Story?, the activation is the key to Lesson two Companies are already Tgive your business a lift, creating a viral video, on the other hand, culture topic dominating the news. If campaign was simple: as a career site, viral success, how can Take into account placing ads on the pages is far from easy. Having a piece of content go viral is the closest you speak the same language as your we knew that having a successful brands best craft highly the public good of Facebook users and are description to some sort of Internet version of the lottery; it’s audience and present interest in the career was all about hard work, emotional messages Consider that one of the reaching out to Twitter same topics, they’ll be more likely to passion and creativity. We knew we with their content? First, best ways to create an and Instagram users who extremely difficult to achieve and very hard to replicate. share your content. were going to invest in a project that think carefully about how emotionally compelling have a large following was the first of its kind in the region, your company, product piece of viral content that base. Brands have to What makes content go viral? Of all emotional investment. A great way 4. Make your content engaging and we would settle for nothing less or service is related to a also works well with your recognize that the ability the millions of videos posted online to get the viral edge you want is One of the keys to virality is than virality. So the question was: topic or topics that taps brand is to tie your brand to find these archetypal every day, how do some videos or to look for stories that can inspire engagement. Engaging with an how should we share this idea and into deep-seated human to a message for the sharers online is just as other pieces of content rise above your readership. Audiences love an audience leads to interest, repeated make a difference while engaging emotions within your public good. Brainstorm important as the ability the fray? In other words, what makes inspirational story, and the more visits and ultimately, conversions. audiences across the Arab world? target audience. The goal how your brand might be to traditionally reach a video or ad or any type of content inspirational it is, the more your Adding an engagement portion to We decided very early on in the is to find the link to an able to create content that certain demographic go viral? Look at every successful audience will want to share it with your videos, like answering viewer campaign process that we cared issue that plagues your does a public good or that groups. Before and during campaign and you will find that there others. questions, can give your content a more about acting as a publisher consumers and relates creates awareness, but at the #WhatsYourStory are four important characteristics boost and make it more sharable. to build a strong affinity message directly to your brand the same time activates campaign, Bayt.com associated with viral content. 2. Opt for quantity vs. quality After all, everyone likes to be heard! aligned with Bayt.com’s core values or product. At the same strong emotional drivers. reached out to dozens Yes, they both matter, but quality How we went viral with our of being a Middle Eastern company time, you must make sure In our campaign, Bayt com of online influencers and The new frontier of marketing is in content doesn’t necessarily imply #WhatsYourStory campaign focused on empowering people to creating branded content that isn’t that the topic you choose not only made sure to shared their stories. TV designed to be overtly promotional, but expensive production. So it’s OK if To celebrate our many successes and lead better lives. We focused on also positively reflects share stories of successful personalities, social media instead can stand on its own merits. A you don’t allocate a huge budget to the successes of people we supported, creating content consistent with the position of your people who were able to gurus, YouTube celebrities, successful branding campaign needs to our brand story, while ensuring that brand. Using the example realize their dreams, but etc. were all contacted to carry and communicate the brand’s core values and, as such, has exponential the content is also entertaining and of #WhatsYourStory also encouraged everyone help the brand spread its marketing impact. When creating content, inspiring in its own right in order to campaign, it is clear that else to dream and work message throughout the it’s vital to always keep your brand enhance brand status without ever its viral success was the and find their passion. campaign. purpose and consumer needs top-of- mentioning any of our products. mind. Social listening helps to inform result of its ability to the future, but is less useful as a way to The #WhatsYourStory campaign tap into an emotional measure an existing program. was created in-house and utilized a connection to work wide array of channels to reach the and self-actualization. 1. Choose informative and audiences we were targeting. We created a positive inspiring content emotional reaction by People are always searching for new 1. Print advertising inspiring success through information and better ways to do We highlighted success stories from their campaign. Their things. If your content is interesting people around the region, with content delivered the and informative enough, it is also different ideas used depending on the message: “Each one of us highly sharable; and if you want to target audience of the publication, has a story to share and all get people’s attention, contribute highlighting the nature of personal something worthy of their time and success. >>> image stills © youtube © stills image

42 Entrepreneur december 2015 december 2015 Entrepreneur 43 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

hat’s Your Story? Here’s Ours.

hat’s Your Story? Here’s Ours. successful and to quickly change and tweak to make things even better. The Story of Bayt.com This will help you both during The Story of Bayt.com the campaign, as well as after the campaign is over. hat’s Your Story? Here’s Ours.(Mona) (Dany) (Rabea) EUREK ! ( kram) (Mona) (Dany) (Rabea) EUREK ! Entitled What’s Your Story?, the campaign ( kram) was simple: as a career site, we knew that having a successful career was all about January, 2000The Story of Bayt.com hard work, passion and creativity. We young entrepreneur in He realizes that millions Decides to create Bayt.com Convinces his sister and Finds a tech guru and a arehouse can’t find of people can’t find a job so employers and job his friend to head sales gets ebsite started knew we were going to invest in a project the right people seekers can connect and marketing that was the first of its kind in the (Mona) (Dany) region, and we would settle for nothing January, 2000 (Rabea) EUREK ! ( kram) less than virality. Find Your Job Online young entrepreneur in He realizes that millions DecidesBayt.com to create Bayt.com Convinces his sister and Finds a tech guru and a arehouse can’t find of people can’t find a job so employers and job his friend to head sales gets ebsite started The new frontier of marketing the right peopleDecember 2000 First check! The Middle East isn’t seekersOctober, 2000 can connectRaises $1.5 million and marketing is in creating branded content Bayt.com has first (From co-founder’s online yet... Bayt.com Bayt.com goes live from a friend’s father 15,000 members father, but still a check) launches TV ad campaign for all! January, 2000 that isn’t designed to be overtly promotional, but instead can stand young entrepreneur in He realizes that millions Decides to create Bayt.com Convinces his sister and Finds a tech guru and a arehouse can’t find of people can’t find a job so employers and job his friend to head sales gets ebsite started on its own merits. A successful Find Your Job the right people seekers can Onlineconnect and marketing Bayt.com 2. Music videos order to create winning content that branding campaign needs to carry

2000-2002 June 2002 December 2002 November 2005 Two songs, one by Jordanian band still resonates well with your brand and communicate the brand’s core Bayt.com opens 9 oﬃces Hello, proﬁtability! More Bayt.com accepts aard for Bayt.com has in the Middle East than $100,000 a month the "Best Recruitment Site 1 million members and Arabs Got Talent semi-finalists and audience. values and, as such, has exponential

in revenue in the rab orld" Find Your Job Online Tarab 3al 7atab, and the other by marketing impact. When creating December 2000 First check! The Middle East isn’t October,Bayt.com 2000 Raises $1.5 million Determine your content .3 ًﻣﺮﺣﺒﺎ Bayt.com has first (From co-founder’s online yet... Bayt.com Bayt.com goes live from a friend’s father Kuwaiti rappers Sons of Yusuf, were content, it’s vital to always keep your 15,000 members father, but still a check) launches TV ad campaign for all! created for this campaign. Both songs marketing goals and KPIs brand purpose and consumer needs December 2000 First check! The Middle East isn’t October, 2000 Raises $1.5 million highlighted the personal stories of Never create content for the sake top-of-mind. Social listening helps to March 2012Bayt.com has firstJanuary 2011 (From co-founder’sOctober 2010 online yet... Bayt.comMay 2008 from a friend’s father Bayt.com relaunches Bayt.com croned as one Launch of Talentera, a Launch of first ever Middle Bayt.com goes live the singers and their own feelings of creating content. You must inform the future, but is less useful as ith hole ne design15,000 membersof top 10 companies father,to but corporatestill a check) recruitment launchesEast TV Virtual ad campaign Job Fair, attracting for all! ork for in MEN solution 31,000 visitors towards work and “writing their own understand what you want your a way to measure an existing program. 22m story.” content to solve. Your content must In our campaign, we went ahead with

TOP have measurable key performance this very-new form of marketing 28 1 2 3 3. Social media indicators (KPIs) that you can use to because we know that branded pril 2012 October 2014 December 2014 October 2015 We engaged with many successful track your success. KPIs can include content is exploding– fueled by 2000-2002Bayt.com goes social Listed in top 28 Global JuneCreation 2002 of the 22 million membersDecember and 2002 November 2005 ith Bayt.com People Groth companies by Bayt.com mobile app, groing strong... people to get their stories and share traffic, sales leads, convert leads into technology, an ever-increasing Bayt.com opens 9 offices orld EconomicHello, forum profitability!entering into Morethe #1 careerBayt.com site in the accepts aard for Bayt.com has 2000-2002 Juneireless 2002 era Middle EastDecember 2002 November 2005 in the than the them on our social media accounts. customers, etc. number of channels in the media MiddleBayt.com East opens 9 offices $100,000Hello, profitability! a month More Bayt.com"Best Recruitmentaccepts aard for Site Bayt.com1 million has members in the Middle East thanin revenue $100,000 a month thein "Best the Recruitment rab orld" Site 1 million members We also hosted a very successful landscape, and some fundamental What’s your story? Start now by building your profile on Bayt.com:in revenue in the rab orld" tweet-up with Tarab 3al 7atab, which 4. Involve your community in changes in consumer behavior. And Bayt.com/WhatsYourStory resulted in two trending hashtags your content as brands are entering a new era ًﻣﺮﺣﺒﺎ relating to the campaign. The Interact with your community by of marketing that is much more ًﻣﺮﺣﺒﺎ #WhatsYourStory campaign ran from September 2015 featuring their content and featuring ambiguous, subtle, and not nearly as to December 2015 and resulted in them in your content. Get success intrusive as it has been in the past, over four million video impressions stories from them and highlight there is ample opportunity for those March 2012March 2012 JanuaryJanuary 2011 2011 OctoberOctober 2010 2010 May 2008May 2008 across all channels and two trending them. The secret is to treat them as who understand that viral content Bayt.com relaunchesBayt.com relaunches Bayt.comBayt.com croned croned as one as one LaunchLaunch of TalenteraTalentera, a , a LaunchLaunch of first ofever first Middle ever Middle ith hole ne design of top 10 companies to corporate recruitment East Virtual Job Fair, attracting hashtags (#WhatsYourStory / partners, as opposed to fans or users. is a byproduct of engaging with the ith hole ne design of corporate recruitment East Virtual Job Fair, attracting top 10ork companies for in MEN to solution 31,000 visitors ork for in MEN solution 31,000 visitors ). audience, touching their hearts, and 22m 5. Plan it all out during the contributing tangibly to their world. 22m Six tips for companies who want to entire campaign TOP create viral content Create a content plan that outlines 28 1 TOP 2 3 every tweet, Facebook update, and 28 1 1. Think “Branded pril 2012 October 2014 December 2014 October 22015 3 Instagram post. Make sure you know Bayt.com goes social Listed in top 28 Global Creation of the 22 million members and Entertainment” what you’re launching, and when. pril ith2012 Bayt.com People OctoberGroth companies 2014 by Bayt.comDecember mobile 2014 app, groingOctober strong... 2015 Going viral is not about being Create reply templates for all your Bayt.com goes social Listed orld in top Economic 28 Global forum enteringCreation into of the the #1 career22 million site in members the and ireless era Middle East promotional; it’s about creating a community managers so they know ith Bayt.com People Groth companies by Bayt.com mobile app, groing strong... orld Economic forum entering into the #1 career site in the campaign that stands on its own and how to engage before the campaign ireless era Middle East that people would like, share and is launched. Create a publishing What’s your story? Start now by building your profile on Bayt.com: enjoy, regardless of the brand. schedule so you can see what content is going live, and when. The key is to Bayt.com/WhatsYourStory 2. Establish your brand plan your marketing according to your What’s your story? Start now by building your profile on Bayt.com: characteristics content and KPIs. Lama Ataya heads the Marketing department at Is your brand funny? Cool? Serious? #WhatsYourStory Bayt.com and within that role is also responsible Bayt.com/WhatsYourStory Helpful? You need to establish your 6. Measure and tweak for communications, content, community experi- brand values and characteristics in Measure your efforts to see what was ence, and corporate social responsibility. infographic © bayt.com © infographic

#WhatsYourStory youtube © stills image

44 Entrepreneur december 2015 december 2015 Entrepreneur 45 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

Al-Dorani says “there will always be a complex and rigid, and the Health conscious startup that while need for healthy, con- country’s environment offers cold pressed venient and accessible limited resources. Examples Raw ME juices are a products. RAW ME offers of barriers include online Founder Layla Al-Dorani wants you to feel better growing trend just that. We are the sales, municipality under- and that starts with nutrition concept, it’s only company in Qatar standing innovative busi- still relatively that produces bottled ness models, deliveries and By Erika Widen new for Qatar. cold pressed juices and mailing system, payments The production vegetable blends.” online, available retail space, iving in Qatar for the past eight years, I discov- and proce- inflated prices, and staff ered the lifestyle and eating habits in our com- dure of cold face in Qatar when it came hire.” pressing is the to launching our com- For this reason, Al-Dorani munity were unhealthy. I also recognized the slow process pany,” adds Al-Dorani. For advises young Qataris who gap in the market when it came to readymade of extracting instance, sourcing equip- are eager to become en- healthy products and that is how the concept nutrient dense ment, finding quality staff trepreneurs to understand L juice from members, renting affordable thoroughly all the require- of Raw Middle East (ME) was born,” says Layla Al- fresh produce commercial space, raising ments and limitations from Dorani, Founder and CEO of Raw ME. using extreme capital, but most impor- the government. “A great pressure ex- tantly introducing a new idea takes much understand- Raw ME is 100% Qatari- of 80 sq. m. to designing erted through a concept that was foreign to ing of the government regu- owned, and it was registered and building a state of the hydraulic press. government regulators in lations on what is and isn’t in 2010 but began opera- art production kitchen in an As a result, the country. However, those permitted, because you will tions in 2012. The company industrial area of 550 sq. “cold” is used challenges were overcome run into many roadblocks was financed through m. The team began with two to describe the through creative solutions. that could directly affect the personal investment and people, including myself, hydraulic press “If a client asks for some- success of your young busi- Layla Al-Dorani revenue generated from the who was producing, packag- technology thing, we do our best to meet ness. These obstacles, many business. “We grew organi- ing and delivering. Jump to that minimizes their specific needs. Regard- times, will have nothing to cally, from starting in our today, and we are now 12 oxygen and heat so little oxi- preserve the integrity of the less of the struggles, Raw ME do directly with your busi- small shop in Barwa Village and continue to grow.” dation occurs during extrac- fruits and veggies, and main- has to endure to make sure ness, but must be addressed tion. “This method produces tain the vitamins, minerals the delivery happens.” On in order to proceed with the longest, lasting, highest and enzymes they have to a positive note, Qatar has a your daily operations.” quality unpasteurized juice, offer. [Our products] are free lot of business opportuni- Al-Dorani adds how today rich in color, flavor and nu- from additives, chemicals, ties, despite the fact that is they are proud to be Qatar’s trients. It’s as close as you’ll added sugar, artificial flavors it a tough market to enter. leading healthy brand, and get to what Mother Nature or colors.” “The government laws are supporting the country’s intended.” Since Raw ME was National Vision 2030 for a outside of Qatar. In addition, Raw ME is a plant-based launched, Al-Dorani adds brighter and healthier fu- the organization has also food and beverage organiza- that their vision is to create Raw ME’s ture, and “also, becoming a developed five flavored raw tion, which offers Qatar’s honest products in which Gabe leader in a sector other than healthy meals and snacks, first premium cold-pressed their customers can trust Glennon energy.” As a result of Raw which will be unveiled soon. juices, nutritional detox and be a positive value to ME success including win- “As we succeed covering the cleanses, corporate fruit their clients’ lives. At pre- ning local entrepreneurship local market, we look into baskets, and bulk juice ser- sent, their health conscious awards, they have received franchising our brand in the vices to hotels and custom- clients are 40% Qataris several inquiries to expand near future.” ized services for events. “We to 60% expats. “As people handcraft and deliver high strive to improve their life- quality fresh products made style through exercise and RAW ME GETS RECOGNIZED! naturally from only fruits, diet, there will always be a vegetables, nuts, and seeds. need for healthy, conveni- 2011 Second place Al Fikra and the only country Eating clean is a life-chang- ent and accessible products. Professional Business Plan representative ing event that will not only Raw ME offers just that. Competition make you feel better in the We are the only company in 2014 Bedaya Recognition short-term, but over time Qatar that produces bot- 2012 Best Qatar Award 2014 of successfully will have a drastic impact tled cold pressed juices and Entrepreneurship Business completing the Al Ta3amel on your overall health.” vegetable blends.” Plan award at the Bedaya program Al-Dorani also underlines And, like most startups in and Silatech Launch the importance of Raw ME’s Qatar and elsewhere, Raw 2015 First place Entrepreneur cold unpasteurized process ME has also encountered 2013 Top 50 startups and Achiever Award Reyada in which their products are some challenges. “We suf- semifinalists in MIT MENA Competition Social created. “We make sure tem- fered from the same chal- Business Plan Competition Development Center peratures stay below 46°C to lenges that most people

46 Entrepreneur december 2015 december 2015 Entrepreneur 47 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

Rewire that engine! (emergencies are just that– Other than relaxation and don’t count on unlikely destressing, meditation Four productivity hacks to power through Q4 circumstances). Other hacks teaches the discipline to By Shoug Al Nafisi include scheduling time to focus attention and energy check emails, and declutter- where it’s needed. Physical ing your virtual and physical exercise will enhance that alling on a higher power to make it through workspace. ability and take it even until the end of the year? ‘Treps, these four further. Find the right hacks will make this leg of the all-important 4. Put the pedal to the exercise routine to commit C metal High performance to, and hit some milestones. last quarter a breeze. Get cracking! requires training mentally, You’ll want to keep fueling physically and emotionally. the fire! 1. Set the scene Ever creativity, productivity, and wonder how people read happiness. If you can’t spend at cafés? Knowing that it’s much time outdoors, work- become quite difficult to ing from areas with natural TREP TALK ME to a country, a continent focus at will, cafés con- light and windows facing THE BUSINESS or a particular service, but tinue to be the default spot natural elements can actu- Vaniday UAE depending on the needs of for quick meetings or even ally go a long way. It’s proven THE ‘TREP each market, we offer a wide weekend reads. Other than that introducing greenery Co-founder Vera Futorjanski choice of specialized services good coffee, they house an into your work environment Q What makes Vaniday stand in this sector and aim to reach ambience that allows you can also improve your mood, out among its regional and customers all around the to focus in whichever way and your output. local competition? world, forging a reputation as you like. Ambient sound (or A “The market of online the go-to online platform for white noise) is an effective 3. Take down the com- beauty and/or wellness is the beauty sector.” tool for cultivating creativity, petition Simply put, very fragmented, and we www.vaniday.ae and might also just be your distractions kill your vibe. can now see a few small Just add your touch key to getting things done, You can get more done in players entering the market, double-time! I like making less time and with less effort which demonstrates the New milk froth butt on to personalise your recipe. my own sound with Noisli. put into trying to refocus. potential growth of the sector. One proven way is to cre- However, there are no major 2. Go outside-in The mul- ate a routine of turning off global players offering the tisensory experience of the alerts as soon as you get to vast choice of beauty and outdoors is considered quite your office, and until you get wellness services that Vaniday impactful when it comes to done what you’ve come to do offers. We are not limited

Discover how easy it is to create your personal coff ee specialties at the touch of a butt on on www.nespresso.com 48 Entrepreneur december 2015

17166-KSAnov15 EntrepreneurAlArabiya Lattissima_Touch_2015_SP NoCoBrand_203x273_CB.indd 1 19/11/15 14:14 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

Cities Store, Dubai “We look for items that are ence felt? “Well, I think the Hazem Aljesr, unique, well-crafted, and fit Cities concept sets us apart in Owner and with our concept. When we find a number of respects, but what Managing a designer that we like whose Director, Cities work does well, we want to really seems to make an impact build on that, especially if it’s is our store display,” Aljesr a designer who does bring new replies. “We work really hard items with some regularity. We to create a store display that make contact with individuals, makes an impression and also design firms, art galleries, and small independent artists.” offers inspiration, and we focus on combining diverse items to pand,” he says. “We also have show our customers how these a strong presence on social pieces can be used in their own media, and we are always in- space. So, even though they volving the Cities name in new might be unfamiliar with some ideas and initiatives to further of the brands and designers, extend our influence and gain the dynamic displays draw more interest. We have moved them in. We also change the slowly and steadily upwards, store display quite regularly, and I feel that we are aimed usually about once a month, so at continuing along that path. with every visit, customers feel Hopefully, we will be able to like it’s a new store.” open up additional Cities loca- As the owner and Managing tions in the near future.” Director of Cities, Aljesr has Aljesr has already made made his passion for design an some headway on his expan- integral part of how the store sion plans for Cities- it opened involves itself with the creative its first Dubai outlet in 2014, space of the region. Besides and Aljesr reveals that the participating in several fairs company is set to open a new and exhibitions to showcase store in the Emirate at Dubai its extensive inventory, Cities Mall in February 2016. Abu has also sponsored many art- Dhabi is also on the cards, and design-related events in Tips for ‘treps as is the rest of the Middle the region. At the same time, Hazem Aljesr’s five points of advice for an on traditional and classic Aljesr’s first store for Cities East- but for now, Aljesr wants Aljesr claims that Cities’ in- enterprise that stays the course styles,” Aljesr remembers. “So in Riyadh attracted a lot of to focus his efforts on Cities’ store presentations also act as Business is booming I created a store that I would attention, following which existing outlets. “If we have a source of inspiration and a 1. Do your research 4. The more you know, want to shop at. We took the he moved on to a dedicated a few Cities’ locations in the resource for people interested “Having a good idea isn’t enough, the more likely you are A discourse on design name Cities, because we want space at Harvey Nichols in the region that are doing very well, in this sector, while also pro- you have to make sure that there to succeed with entrepreneur Hazem Aljesr people to feel that they can city, and now, he’s back to his we can continue to build our viding a platform for up-and- is room for it in the market, that “Never stop learning, shop [from] all the cities of the standalone roots with a larger, name and brand, and have a coming artists and designers it is viable, that you can create researching, exploring, Cities founder makes MENA’s creatives world from one place. As such, freestanding store in the Saudi solid foundation to branch to share their creations. “We it from a financial standpoint, innovating and expanding. The a priority By Aby Sam Thomas Cities focuses on encouraging capital. “It’s in a very popu- out from,” he explains. “We’ve have undertaken all of these and it has a reasonable chance of world is changing so quickly; a new approach to design and lar shopping location, and I looked at other locations in initiatives not just because we success.” your business has to change or an entrepreneur, U.K. for his higher education, interior décor; it’s a fusion think that the location and our the Middle East, but so much want to stand out, but also be- along with it. Be adaptable and being able to follow and on his return to the King- of styles, quite eclectic and existing reputation will help us is dependent on the response cause our goal is to encourage 2. Focus on human capital keep an open mind to changes.” one’s passion is an ex- dom in 2006, he, along with unique.” to succeed and continue to ex- to the growing design sec- all forms of creativity in the “Surround yourself with a strong citing proposition by two other co-founders, set tor in the region. We want to region,” Aljesr says. “We want team that you can depend on and 5. Don’t forget your itself, but what makes up a graphic design company encourage that, but the result art and design in the region to then delegate. Don’t get bogged supporters Fthe experience feel a lot more called Zoom Creative. Follow- must be financially viable for succeed and grow, [and] so >>> down trying to micromanage all “Show your team and your exhilarating is when one is able ing that company’s success, he us as well. With time, as things the tiny details by yourself, and customers that you value to capitalize on that interest then launched Cities with its continue to change, more “In some areas, it’s developing very don’t be afraid to ask for help.” them. Your business won’t well; while in other areas, there is succeed without hard-working by filling a gap in the mar- first location in Riyadh- ac- areas may become possible for still a lot of progress to be made. ket. That’s why Hazem Aljesr cording to Aljesr, the store regional expansion, but right There are also many barriers to be 3. Remain steadfast in the employees who feel invested considers himself to be lucky was set up to address a very now, it’s really a game of wait surmounted. For example, in Lebanon, face of adversity in their jobs, and it won’t many designers complain about having with the enterprise he set up particular need he saw in the and see.” to alter their manufacturing process “When things get tough, trust succeed if you don’t show your in 2008, the Cities Design, Art market. “When I returned to But given that the design sec- or material selection, because the yourself and believe in yourself. customers that you appreciate technology and resources cannot Don’t listen solely to the negative them. Listen to your employees & Lifestyle Store. Riyadh, I saw that there wasn’t tor in the region is –arguably- be gotten to help them create the Born in Lebanon and then a lot of variety available in a rather crowded space, how designs they have envisioned. In other critics, but don’t surround and listen to your customers. areas, it’s a matter of educating the yourself with sycophants either. Address their concerns, and use raised in Saudi Arabia, Aljesr terms of design and interior has Cities managed to break public and helping them understand Be realistic and take logical risks.” their input to keep improving.” went to the U.S. and then the décor; it was very centered Cities Store, Dubai through and make its pres- why design matters.”

50 Entrepreneur december 2015 december 2015 Entrepreneur 51 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

throughout the region are be- “We work really hard to create a coming more focused on design store display that makes an impression and also offers inspiration, Starting up in Saudi Arabia and taking steps to bring it and we focus on combining diverse to the forefront. We’ve seen a items to show our customers how According to Hazem Aljesr, the challenges of setting up these pieces can be used in their own huge increase in involvement space. So, even though they might be shop in the Kingdom prep you for the rest of the GCC and in the number of initia- unfamiliar with some of the brands tives and events that are being and designers, the dynamic displays “It’s definitely not a job for in how you want things done, draw them in. We also change the created to encourage design, store display quite regularly, usu- one person! Making the initial and I found that difference especially for the younger gen- ally about once a month, so with decision and investing was in attitude to be a bit of an every visit, customers feel like it’s a the easy part. It was really adjustment for me. erations. That is very reassur- new store.” ing, and we’re glad to be a part the little things that caused I think that starting with the of all of this at such an exciting Khaled El Mays, Nayef Francis, the greatest difficulties. The Saudi market has made things time.” and Hawini. We recently held Cities Store, paperwork, the waiting for easier for me now. I learned Aljesr points out that Cities an installation of works by Dubai approval for things, the lack a lot from the experience, also features a lot of Mid- Nayef Francis at our Dubai of set deadlines for things to and I got a good solid team dle East names as part of its location, and Khaled El Mays relevant in the market,” he now, the progress is incremen- occur to move the process in place, and together we repertoire. “A number of the and Hawini designs are avail- explains. “We look for items tal, but we are already seeing forward; those things were figured out how to surmount designers whose works are on able at Cities and have also that are unique, well-crafted, signs that we will continue to frustrating, because there the difficulties. So, starting display [at Cities] are from the been featured in our exhibits and fit with our concept. When benefit from our vision.” Aljesr was a lot of uncertainty, and in Dubai, there weren’t really region,” he notes. “We carry a for Design Days Dubai 2014 we find a designer that we like also has hopes to expand Cities it made the planning process any surprises. I’ve learned large selection of items from and at the Beirut Art Fair in whose work does well, we want beyond the Middle East region. difficult to adhere to because how the process works, and Orient 499, a Lebanese-based September of this year.” to build on that, especially if “My desire is to bring Cities to there were so many factors now I think we are ready for Cities Store, Dubai atelier, and of course from But this is not to say that it’s a designer who does bring the people,” he says. “I think that were reliant on other just about anything. The Nada Debs. We are also very it’s an easy task picking the new items with some regular- that we have a unique concept, entities. differences [between the two excited to carry the Wisada designers whose works are ity. We make contact with and we are evolving and grow- We succeeded with patience markets are] in some ways many of our efforts are aimed But that’s not to say that floor cushions created by Saudi featured at Cities- Aljesr individuals, design firms, art ing. Cities’ concept and its and perseverance. Some are vast, in others, minimal. In at encouraging individuals and Aljesr’s outlook for this sector designer Ayah Al Bitar. We makes it clear that there’s a galleries, and small independ- focus on encouraging self-ex- things that surprised me the Riyadh market, they know enterprises in order to help is all dry and dreary. “What also carry items from Lebanese lot of research happening in ent artists. We also rely on pression and variety in design were the cultural issues that us now so they know what to them succeed.” is really wonderful is that I’ve designer Georges Amatoury, the background to find the design companies which offer and décor are very relevant, caused a bit of frustration. expect. Our job is to meet that Aljesr’s work to encourage noticed is the deep level of both from his design collection creations of such talents. “It pieces from a number of dif- and it’s also an approach that Even though I’m Saudi, I’ve standard, but also we have a and scale up this domain is support that exists in so many and from his Ardeco Gallery, takes a lot of work to stay ferent designers all under one holds appeal on a global level spent a lot of time abroad, lot of pressure to continually particularly noteworthy given areas in the region,” he says. Corinne Martin, who creates abreast of everything that is company name; they may have as well.” Aljesr admits that he and I found it somewhat have something new to share. the disjointed nature of the “There is a lot of camaraderie, paintings that are influenced going on, because there are so dedicated designers or col- has his eyes on entering the problematic at first dealing There is a deeper desire for sector here. “The design scene and designers are very sup- by Middle East popular culture many designers creating, and laborate on specific items with European market, but adds with the approach to business. novelty; what’s new that can’t in MENA is quite variable,” he portive and encouraging of items from the past done in a they have a lot of pressure to designers who aren’t affiliated that he is in no hurry to do so The Americans and the Brits be found anywhere else. In explains. “In some areas, it’s one another, and many cities pop art style, and of course, produce new pieces to remain with any specific company. either. “I think that the Cities are all about taking initiative; comparison, in Dubai, there developing very well; while in This affords us a varied base to concept would fit well with the they don’t wait for you to map has been more exposure to the other areas, there is still a lot draw upon, but we are always European lifestyle, but first, out the steps of how you want design sector, so the tastes are of progress to be made. There on the lookout for new names we have a lot of work to do to something done. You say, ‘Do sometimes a bit more daring; are also many barriers to be and new creations. Some of strengthen the name and bet- this,’ and they figure out the people are more drawn to truly surmounted. For example, our most successful pieces ter define ourselves. Right now, best way to do it, and get it unusual and innovative items. in Lebanon, many designers were discovered by chance, so Cities speaks to a customer done. But here, there is a lot They are also just learning complain about having to alter we try to keep our eyes and base that either identifies with of deference given. It’s nice, about Cities, so we are trying their manufacturing process minds open to many different our mindset and philosophy or but you have to be very explicit to make a strong impression.” or material selection, because sources.” is inspired by it. So, I think the the technology and resources And this is the approach appeal is great. However, the Cities Store, cannot be gotten to help them Aljesr wants to continue us- European market is vast, so we Riyadh create the designs they have ing as Cities compounds its would need to find some niche envisioned. In other areas, it’s presence and plans for further to fill in order to succeed there. a matter of educating the pub- growth in this sector. “It’s not Hopefully, the way will become lic and helping them under- an easy area to maintain a clearer as we continue to grow stand why design matters.” presence in; it requires exten- and progress.” sive investment, and it’s a slow “We also have a strong presence path to turn it all around,” he “We’ve looked at other locations on social media, and we are always in the Middle East, but so much involving the Cities name in new says. “Building a brand and a is dependent on the response to ideas and initiatives to further concept takes time; you have the growing design sector in the extend our influence and gain more region. We want to encourage that, interest. We have moved slowly and to grow your customer base, but the result must be financially steadily upwards, and I feel that we and maintain it by constantly viable for us as well. With time, as are aimed at continuing along that “Undo, Move, sharing something new. It things continue to change, more path. Hopefully, we will be able to Construct, Repeat” areas may become possible for re- open up additional Cities locations by Nayef Francis at often feels like two steps gional expansion, but right now, it’s in the near future.” Cities Dubai forward, one step back. Right really a game of wait and see.”

52 Entrepreneur december 2015 december 2015 Entrepreneur 53 300-ENTREPRENEUR-203x273.pdf 1 10/26/15 7:13 PM

TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

Mark Zuckerberg With this in mind, here are three things entrepreneurs can teach MBAs:

1. Innovation happens outside of the classroom Startup ecosystems, both inside and outside of the Middle East, are formed by creative entrepreneurs, investors and innovators. For startups, meetings and idea exchanges often happen spontaneously through personal connections and shared interests. Course cur- riculums and reading lists may be valuable for academ- ics, but these resources do little to attract customers and grow revenues. Bill Gates and Mark Zuckerberg famously went so far as to drop out university and pursue their ideas full time, but we should not forget that Microsoft and Facebook are exceptions. Universities play a role in creating successful startup hubs- look no further than San Francisco where Stanford and Berkeley provide extensive support for rising entrepreneurs. But college campuses are merely one part in the larger ecosystem that brings together innovators from all backgrounds. We must remember that disruptive products and services are created far from the formalities of university Innovation happens outside lecture halls.

of the classroom 2. Formulas and frame- Three things entrepreneurs can teach MBAs works do not apply to By Sean McKeon startups The corporate world is full of cross the Middle East and beyond, today’s young entrepre- pre-determined hierarchies, neurs are opting out of expensive business school degrees and often created to manage choosing careers in startups. For many considering the two the sheer size of many companies. Roles are clearly options, the advantages of a traditional MBA are clear: the defined and newly-minted brandA of a university, higher average salaries, and access to a network MBAs are thrown into jobs that perfectly match busi- of future corporate leaders. You might ask then, where’s the problem? ness school formulas and In my opinion, the benefits of business school are not immediately use- frameworks. For startup ful to an entrepreneur working to get his or her business off the ground. founders and employees, daily challenges are less Instead of molding startups to fit corporate jargon, entrepreneurs must predictable and not as easily be flexible, resourceful, and decisive each and every day. delegated. Instead, >>> mark zuckerberg image © bangkok happiness / shutterstock / happiness bangkok © image zuckerberg mark

54 Entrepreneur december 2015 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

entrepreneurs are forced ness development. This gap who become first-time than Cairo, Amman, and to be Jacks and Jills of all in fundamentals is typi- founders. Business school Dubai, where entrepreneurs trades. This growing reality cally filled through trusted degree or not, entrepreneurs overcome extreme challenges is even changing the way relationships with investors who possess high levels of each day. In the future, MBA many business schools teach and advisors in the local determination will succeed graduates will be looking future graduates. As one ecosystem- but even this despite the daily challenges more and more towards THIS RED SEASON example, the University of mentorship is not enough to of startup life. entrepreneurs in these cities Oxford has incorporated a create a successful business. This is not to say that busi- for an education in starting a mandatory Entrepreneur- Many startups fail despite ness school can’t provide successful business. ship Project into its MBA relationships with successful a valuable foundation for course, giving students a VCs or angel investors, often would-be entrepreneurs. Sean McKeon brief taste of startup life. leaving founders to ask: Several startup unicorns, is a recent MBA Oxford, like many business why? To answer this ques- including Warby Parker and graduate from the University schools, is recognizing the tion, Angela Lee Duckworth, Cloudfare, have MBA found- of Oxford and need for new graduates who in her popular TED Talk, ers calling the shots. It’s no a passionate WIN can walk the entrepreneur identified the importance secret that graduates of top supporter of walk instead of just talking of grit. At a basic level, she business schools often find entrepreneurship in emerging 2 ALFA ROMEO MITOs the corporate talk. As larger defines grit as the ability investors and advisors in markets. Talk to numbers of MBA graduates to sustain interest and ef- their school’s alumni base. him on Twitter @fseanmckeon. choose startups and technol- fort toward very long-term But a deeper look at suc- ogy careers after business goals. For entrepreneurs this cessful startups proves that school, an entrepreneurial concept isn’t anything new- true learning comes through mindset is quickly becoming one’s daily life as a founder doing and persisting despite an essential factor for suc- requires immediate sacrifice unexpected challenges. cess. with the hope of future success. Fortunately for many Business school can’t teach 3. Resiliency is the key to MBAs, the corporate world you about the struggles of success provides a protective barrier bootstrapping a business; Research from Wamda from the all-too-real fear it can’t prepare you for the

shows MENA entrepreneurs of failure faced by startups. sleepless nights and the Jim Will Fix It co-founders often lack necessary skills However, this same protec- pressure to be successful. Colin Thomas and Daniel Garner for strategic planning, tion creates a challenge For examples of resilience financial literacy, and busi- for business graduates in practice, look no further TREP TALK ME THE BUSINESS Jim Will Fix It Bill Gates THE ‘TREP Co-founder Colin Thomas Q What were the biggest lessons from your endeavors? A “Don’t activate until your research is as solid as it can be- we spent six months in daily research to prove our business model would work. If Red Season is here and this time you get a chance you are underfunded, rework to WIN 2 Alfa Romeo MiTo cars for every AED 500 your idea (and not your sales projections) to sit comfortably you shop for at any Paris Gallery or Watch Gallery store*. within your budget with double the contingency you December 1 - 31, 2015 thought you needed. Employ an accountant from day one. This is advice we were given before we set up, and we ignored it as we thought our money was better spent elsewhere. As a result, we had

more sleepless nights than *Terms and conditions apply. were necessary and lacked a clear picture of our financial position. We soon rectified our mistake.” www.jimwillfixit.ae 800-744

bill gates image © frederic legrand / shutterstock / legrand frederic © image gates bill www.parisgallery.com www.luxuryclub.com 56 Entrepreneur december 2015 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

The St. Regis The St. Regis Abu Dhabi Bar - Library RECOMMENDED BY THE GM

EXEC STAY “As a luxury city in-house IT specialists and A/V order via What- The Crystal Lounge property we have the high-speed technicians to ensure everything sApp so their Wi-Fi and technology facilities runs smoothly. In addition, we meal would be that one would expect, but our partner with an A/V specialist ready when they approach is to adapt to the needs company as required. We also finished working of the individual business traveller. have five more boardrooms of var- out- that’s what Empowering our butlers to be one ious sizes, and we have two library we’re there for.” step ahead, and to be able to an- spaces that are regularly used as a ticipate and exceed an individual’s Majlis. I believe the key to success MUNCH “As the expectations is central to our ap- in the Middle East is privacy, and General Manager proach. All [of] our guests receive often a Majlis cannot be enforced of a St. Regis, personalized butler service– so by the hotel operator as it’s where I guess most their butler is their personal our guests feel comfortable. With people would ex- concierge. Beyond our butler team, this in mind, we will create a Majlis pect me to select every one of our staff -including wherever the guest needs it- and a fine dining op- me- is responsible for personal- often this means creating a Majlis tion, but my per- izing a guest’s experience.” in one of our top suites.” sonal favourite is Cabana Beach CONFERENCE CAPABILITIES CONNECTIVITY “The other thing Bar & Grill. It’s “Meetings and conferences are that have proven to really appeal located right an important part of our business to our business travelers is our on the beach operation. As a new hotel, we have Starwood WhatsApp service: at our Nation great technology available to en- ‘Let’s Chat.’ It allows our guests Riviera Beach The Al Hosen Suite sure each is a seamless event. The to message their butler via What- Club. They do a Bedroom hotel features a grand ballroom, Al sApp, and our policy is to respond fantastic quinoa Muhaif, which, depending on the within 60 seconds. It’s great salad with seared to the St. Regis legacy and to history and shared brand meeting style, can accommodate seeing the different ways guests salmon, plenty of avocado, fennel lots of options when it’s time our core values that provide rituals, and you’ll see that the up to 1,000 people. We have quite make use of this service; the other and roasted peppers.” to relax– we have our fabulous the framework for everything language we use is similar,” a big number of large conferences, day I saw one of our butlers in Nation Riviera Beach Club, great we do. Most importantly, we he explains. In terms of how and we have a team of dedicated the gym taking an in-room dining DOWNTIME “Being [situated] restaurants and bars, and our need to understand luxury. the brand’s resort culture event specialists to handle every order from a guest training. They on the Corniche, we have a great 3,200 sq. m. multi-award winning Luxury should never be in- has translated, Sakr says that imaginable detail. We also employ had sent for the butler to take the city location but we also provide Remede Spa.” timidating– it should be the St. Regis Saadiyat Island welcoming, warm, discreet, really upholds the company’s and timeless.” ethos in that regard as well, In addition to putting into adding that outside of MENA, place the art of anticipating The St. Regis Bali is a haven guest requests and adapting of tranquillity. It just might to specific requirements, Sakr be time to check in! says that at The St. At your beck Regis Abu Dhabi the GM top-of-mind constant Moustafa Sakr and call question is always, “What does the cus- The St. Regis Abu Dhabi is always at the ready tomer want?” And if for your visit to UAE’s capital you’re the customer who is already a global hatever the season and what’s going on St. Regis patron, “ business in town, however, year-round then you’ll find those traveller they make up 40-50% of hallmark hospitality wants, they our guests,” giving the hotel values in place here, get. There is ample experience in a variety too. “If I compare The noW standard business travel- of business visitor needs, and St. Regis Abu Dhabi to ler, so equally, there should catering to what are often the original St. Regis be no standard amenities,” specialized accommodation New York, we share says the General Manager of desires. “The success of the a lot through the St. one of the UAE’s finest hotels, St. Regis brand is a result of Regis legacy. Our ser- The St. Regis Abu Dhabi. our commitment to deliver- vice culture, which is egis abu dhabi dhabi abu R egis t. Moustafa Sakr adds that ing an unrivalled setting and at the heart of the St. the property’s “percentage bespoke service to each and Regis brand, and core of business [clientele] does every guest, from arrival to values are the same. The Al Manhal Suite Entrance Hall The Club Lounge

fluctuate depending on the departure. We need to be true We have a shared S courtesy images

58 Entrepreneur december 2015 december 2015 Entrepreneur 59 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

Roja Dove in Dubai, UAE during his Middle good use- for his own legacy brand. exclusive but primarily it is two East fall tour “Whether I’m in Dubai or Paris or demographic segments: first, an ultra- New York, the selection of fragrance rich consumer who understands what was more or less the same, and there quality is and who really is looking for was no choice. I think at this moment something very unusual and driven in time, there’s a huge backlash in by legitimacy and authenticity. My the industry. I think many of the big second client segment, who I absolutely brands are suddenly starting to be seen adore, isn’t necessarily very wealthy, as very ordinary because they are so and maybe just love what I make, and readily available, and I think that the have to bust the bank a bit to buy my Internet has altered retail globally and perfumes.” those products are sold [online] very Part of this entrepreneur’s strategy is much based on price. We have a new the taste education of clients via direct wave occurring in perfumery and now, training of his sales staff- and that in without question, we’re starting to itself is quite rare. Master perfumers see creativity [injected] back into the generally don’t travel country to equation, so you have a lot of smaller country explaining the motivations brands -and that doesn’t mean they are behind note selection or composition- Editor’s pick good- but it does mean there is choice. instead, a rather impersonal Holiday gifting by Roja Dove When I made the decision to launch product knowledge kit is sent out Roja Dove’s sublime selection comes commercial perfumery, in addition to those consumer-facing brand outfitted for the luxury fan. The bottles, to my bespoke, it was due to seeing representatives. If you think about crystal presented with etched typog- the plethora of clients who demanded companies across sectors, whenever raphy in an original font developed for something different.” the founder is directly engaged in the the brand, are embellished with gold Echoing the opinion of many luxury training and promotion of respective screen-printed accents (a delicate pro- sector professionals, Dove agrees that products and services, it is often one of cess that takes three days to complete). being everywhere and catering to the most effective methods of market Once you get past the collection’s everyone isn’t a luxury sentiment. So penetration. And perhaps, Roja Dove’s pristine packing, you’ll be captivated by those seeking a personal expression hands-on approach to his conveying the the arresting fragrance. of taste gravitate to Dove’s work, and deep sentiment behind his business, they’re willing to spend to convey their and the exacting developmental process FOR HIM Roja Dove Danger Pour preferences, be it through a bespoke behind his collections, is something Homme with notes of lavender, vetiver, fragrance, a good tailored suit or the most entrepreneurs need to put to and musk latest high-end vehicle made to client work, regardless of what type of client specifications. “I have two distinct you are aiming to onboard. FOR HER Roja Dove Innuendo with client types; they aren’t mutually www.rojadove.com notes of jasmine, sandalwood, and rose

Warming it up right Missoni AW15 Missoni AW15 Missoni AW15 MISSONI AW15 is an interesting analysis of the luxury Gents, you can pull off prints… The legacy of Roja Dove consumer and the luxury industry as but only when and if they are U.K.-based entrepreneur crafts haute fragrance a whole. Over the course of his career executed properly. Better fashion and the now-global growth of his Houses like Missoni are ready for the MENA bespoke client By Fida Chaaban eponymous venture, Dove has worked to get you (well) dressed and with the best and brightest of luxury ready for winter in the Middle efore you sit down with like the Roja Dove Vetiver Shower and then taken that considerable East. It’s chilly in the evenings, the elegant and well- Gel, the Body Milk, and the Bar Soap. sector expertise and put it to very and the AW15 collection can be spoken Roja Dove, think I’d also seen Dove’s collected works the solution you’ve been looking about where you might at Paris Gallery, as part of an ornate for when running from the office have seen his highly instillation. This month, just in time straight to the office holiday sought after creations. for holiday shopping, saw the House bash. Wardrobe investments Just prior to his recent launch a dedicated Roja Dove boutique are just that, you want to be Middle East tour, I had the pleasure at No. 51 Burlington Arcade in London, sure that your pieces aren’t the ofB experiencing a fine Roja Dove scent England, while here in the Middle East, one-off wear: this collection, at one of the best hotels in the GCC his products are available at the best an interesting deviation from during my stay there for a conference: retailers region-wide. Missoni’s famed zigzags, can the Rosewood Abu Dhabi’s executive What you can count on during a carry you right into next spring. suite was fitted out with ancillaries conversation with this entrepreneur www.boutiqueone.com/Missoni Tom Ford

iPad Pro

#TAMTechies come with differentTALKS interests and the gifts you choose for themTECH should be just as varied. As the festive season approaches, we’ve curated a list of must-have items for the geek in your life.

For the nature lover Parrot Flower Power Samsung Gear For the power player S2 Sport Samsung Gear S2 Whether you’ve got a green thumb or not, Parrot makes it easy to care for your house Samsung rounded out its directly to your wrist. It’s outfit- plants with Flower Power. (Yep, there’s actually smartwatch with a new circular ted for fitness monitoring too, an app for that.) Flower Power consists of a design and rotating bezel fea- and comes with NFC technology sensor that measures the four crucial elements turing Home and Back buttons- enabling mobile payments (so of plant growth. Through the app you can stay features that make the Gear you can head out sans wallet). up-to-date regarding soil moisture, fertilizer, S2 stand out from the pack. Gear S2 comes in two good- ambient temperature, and even light intensity. Apps are optimized for the 1.2 looking formats: the Sport and The app will even send notifications to your inch circular screen, and can be the Classic, which includes a phone or tablet letting you know exactly what viewed in stunning clarity as leather band. So, whatever your the plant needs. Do you know someone in need the device boasts 360 x 360 power player’s style, there’s of a smart gardening assistant? Parrot Flower resolution. Gear S2 allows you a watch face and band to suit Power could be it. to stay connected at a glance their tastes. Don’t worry about with calendar, email, news and wrapping this one up- it comes text notifications, all delivered attractively packaged.

Samsung Gear S2 Sport

The new 12.9 inch Samsung Gear retina display iPad Pro S2 Classic

For the gadget aficionado iPad Pro iPad Pro is the largest, most powerful Apple’s new Smart Keyboard and Apple iPad made to date- and this alone Pencil, the accessory that makes draw- makes it an ideal gift for the gadget- ing and sketching by hand possible on lover in your life. It has a whopping the device, and it also features a built-in 12.9 inch retina display with 5.6 million lightning connector for easy pairing and pixels and runs the new 64 bit A9X charging. Available in 32GB with Wi-Fi chip (rivaling the performance of most and a Wi-Fi + Cellular 128GB version, PCs). It’s thin, light-weight, and offers the iPad Pro is currently on the market up to 10 hours of battery life. The iPad in three handsome metallic finishes: Parrot Flower Power Pro enables creativity by supporting Silver, Gold, and Space Gray. image credit samsung credit image parrot apple, credit image

For the shutterbug Stealth B-52 electric bike FUJIFILM X-T10 The shutterbug in your life both the conventional 49-point can shoot like a pro with the Single Point mode plus Zone new FUJIFILM X-T10. It has and Wide modes that track a compact, light body with subject movement across a a retro feel that makes it wider area, greatly improving easy to handle. X-T10 can be your ability to capture moving outfitted with any of the 18 subjects. Not up for manual FUJINON interchangeable shooting? No worries. X-T10 lenses for X series cameras. has Advanced SR Auto mode It features a 16 MP sensor which automatically selects and built-in Wi-Fi allowing the optimal shooting settings for immediate photo sharing. from 58 presets. This could X-T10 is also equipped with very well be the smartest gift a new AF system that offers you’ve ever given.

FUJIFILM X-T10 50 mm

For the fitness fanatic Ebikes Stealth B-52

EBikes UAE, the region’s a standard output. It also first electric bike specialist, has a Brushless DC motor, #TAMTALKSTECH is offering a new ecofriendly, an advanced nine-speed fun and totally tech-ed out sequential gearbox and Tamara Clarke, a former software development professional, is the tech mode of transportation. Magura hydraulic disc and lifestyle enthusiast behind The The company has joined the brakes. Perhaps its most Global Gazette, one of the most active ranks of other IoT pioneers notable feature is the DC-1 blogs in the Middle East. The Global by offering bicycles with a Stealth Monitoring System Gazette has been welcomed and lauded digital component. Impress and display: it’s multilingual by some of the most influential tech the fitness fan on your list and provides you with brands in the region. Clarke’s goal is to inform about technology and how it with a Stealth B-52 electric everything from ongoing supports our lifestyles. See her work bike. It’s a hybrid vehicle range calculations based both in print regional publications and that blends traditional on real-time data to low online on her blog where she discusses pedal power with 5.2KW battery alerts. With the push everything from how a new gadget of pure electric thrust of a button, riders have a improves day-to-day life to how to thanks to an advanced choice of throttle maps and coordinate your smartphone accessories. Visit www.theglobalgazette.com and talk lithium rechargeable battery a plethora of other details to her on Twitter @GlobalGazette. that requires only two to ensure a smooth tech-

hours to recharge using enabled ride. ebikes fujifilm, credit image

64 Entrepreneur december 2015 in pictures

First place winner MyCars

Second place winner Fitness Buddies

Third place winner Wa9faat.com

Aya Sadder, Lead Organizer, Startup Weekend Dubai

find cars to rent in differ- MEET THE JUDGES Ready, set, go! ent cities and included Joshua Rajkumar Startup Weekend Dubai runs a 54-hour team members Ben Pullen, Co-founder, The Sustainability Platform educational experience for ‘treps Benjamin de Terssac, Finney Chantalle Dumonceaux Thomas, Heloise Andrade, Co-founder, WOMENA tartup Weekend Carpool Arabia, Flat6Labs, and Zahed Mirza. Sec- Muhammed Mekki Dubai 2015, a DotShabaka, Stationary ond place winner Fitness Founding Partner, AstroLabs 54-hour annual Inc., The Sustainability Buddies, a model based on Hervé Collignon event, was staged at Platform, Vaniday, Ven- matching users with other Founder, HOOKS Strategy & Innovation SAstroLabs head- tureFin, and WOMENA, the users for workouts, was Emad Ghanem quarters in Jumeirah Lake event’s “overall objective made up of team members Regional Manager Middle East and Gulf Towers from November is to teach entrepreneurs Amit Vaghasiya, Darreen Al- Region, SOTI Inc. 19-21. Organized in over the basics of how to get hiyari, Hina Gulzar, Jiahao 150 countries, more than their business off of the Liu, Richard Humberstone, 250 cities ran the Startup ground through a structured and Andrew Broekel- Weekend Global Startup process. It exposes them mann. Third place win- Battle simultaneously last to mentors and facilitators ner Wa9faat.com, created month. In the UAE alone, who volunteer their time by Ahmed AbuSaad and 103 entrants took part and throughout the weekend to Abdulhadi Hafez, facilitates 44 of those entrepreneurs help the startups achieve access to Arabic recipes via even rose to the challenge the best possible results referral. The B2B prizewin- of a 60-second warm up in an educational environ- ner of the event, VVIP, was

amous pitch on day one. Supported ment,” explains Aya Sadder, made of up team members by Platinum partner SOTI, Lead Organizer, Startup Andrey Simeonov, Danni acker J acker Gold partners AstroLabs, Weekend Dubai. The first Lu, Saber Ghaith, and Sajad Bird & Bird, SnappCard and place winner, MyCars, is a Ahmed.

mages by B by I mages Uber, and Silver partners model that allows users to StartupWeekendDubai

december 2015 Entrepreneur 67 CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

The Negotiation Book: Your Definitive Guide to Successful Negotiating Steve Gates

There is perhaps no more impor- correctly, can get the most out of a READ BETWEEN tant skill in business than the art of situation be it for a finite contract or negotiation. A good negotiator can an ongoing long-term partnership. sculpt favourable deals, advantageous Your Definitive Guide to Successful employment contracts, or even diffuse Negotiating uses the term “Complete THE LINES difficult situations using finely-honed Skilled Negotiator” instead of just skills. Steve Gates has released a sec- “Successful Negotiator” in referring BUSINESS BOOK RUNDOWN ond edition of his book, updated for to someone who has both the abilities By Amal Chaaban a world that has changed in expecta- and the approach. Everyone can pick tions but still wants the best bottom this book up as it will prove useful in ust because an author demonstrates great sales doesn’t mean their line for their dollar. He does this by both professional and personal situ- business advice is applicable in the boardroom or even good for explaining how negotiation is both an ations- after all, we will all have to Jpractical application otherwise. Our reviewer takes a look at some art and a science that when practiced wrangle terms at some point. of the titles getting hype recently and gives you the executive summary. Before you hit the business bestseller aisle, read these reviews to see which of these known books are actually worth your while.

5 Gears: How to Be Present and Productive When There is Never Enough Time How to Stand Out Jeremie Kubicek & Steve Cockram Dr. Rob Yeung In a world full of constant distractions levels based on the premise that having In a world where people strive push you out of your comfort and time-consuming tasks, the hard skills and a good IQ are no longer to be more than ordinary in zone, which include not telling authors believe we are experiencing enough to be successful. On some levels everything they do, how do you people who are anxious to calm not only technological advances but they are correct, however the reader stand out? How do you make down. Using separate chapters, cultural upheaval. They have taken will only get the absolute most out yourself the most memorable How to Stand Out breaks down the view that as humankind grow of this book if they are as honest as person with the most salient different methods that can busier, our abilities to have meaningful possible in the self-assessments. This pitch out there? What tools be applied depending on your relationships (business and personal) is an excellent resource if you feel like do you use that you already persona. This is an excellent have broken down somewhat. 5 Gears you are not able to be both present have, and what tools can you book for entrepreneurs trying asks the reader to do some very difficult and productive, due to the feeling of develop further? Dr. Yeung has to shed light on a new venture, self-examination on many critical overwhelming busyness. executed a study of how people people in consumer-facing stand out, then written a book positions like sales, and pretty that can assist even the shyest much anyone who is looking for wallflower in getting noticed. a confidence boost to get to the There are tasks and ideas that next goal level. Oman’s Sharakah Forum to Muscat, Oman focus on the role of media in supporting SMEs

The Daily Edge SMEs are once again the SME Development. From David Horsager focal point at another broadcast to digital, the upcoming MENA event, program will host an Imagine a typical day in your office its most basic, The Daily Edge is about and for good reason. The array of media-related or one of the multitude of offices workflow and productivity but if you Sharakah Forum in Muscat, discussions. Some of the around you. Examine that day. Are take the time to go deeper and really Oman will take place from panelists include CNN you efficient? Are you getting the implement the truly practical hints on December 14-15 at the Al Emerging Markets Producer, things done you need to do to make an a regular basis, you will see a change. Bandar Hotel, Shangri La Vicky Brown, LinkedIn Head impact? If your answer is sometimes, Horsager even provides the web ad- Barr Al Jissah Resort and of MENA Growth Markets, no or maybe, then you need this book. dresses for various YouTube videos to Spa. Sharakah, incorporated Ghassan Talhouk, and David Horsager has written a how-to help you implement his concepts. Use back in 1998 by a royal Entrepreneur Middle East ange / shutterstock shutterstock / ange guide on streamlining your efficiency this book when you need a reworking decree to support SMEs, Managing Editor, Aby Sam in the office, and to aid you in achiev- of your time management to increase have chosen to title this Thomas. Registration is ing things daily that actually do have efficiency and get things done (despite year’s forum as The Role now open. an impact on your overall position. At distractions). of Media in Supporting forum.sharakah.om hilip L P hilip © image muscat

68 Entrepreneur december 2015 december 2015 Entrepreneur 69 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

in a practical way. They help you one worthy of your partnership -not The compliment triangulate a little. an investor, not an employee, not a Advocating for the company takes co-founder- necessarily wants you sandwich the pressure off both you and the to say yes. They want you to make person making the request, and things better. The Esquire Guy on softening a rejection places the pressure on the larger with a positive message enterprise. You’re saying, “You might OR YOU COULD JUST GO be right, and I might be making a WITH NO By Ross McCammon mistake, but I don’t see how this is Everything so far has assumed that going to work for the company.” you value the person making the straight no makes you cal- be commensurate with the effort “If the employee is making a case request, that all the mitigation and lous. Saying a lot of things it took to ask the question. Your for more money, it’s the employee’s explanation and empathic asser- Athat aren’t no but add up to response should be empathetic. job to create a new vision for the tion is worthwhile because you have no makes you squirrelly. Saying yes “You want to make a connection, employer,” says Jim Camp, CEO of reason to invest in the relationship. when you’re thinking no makes you then say something positive that val- the Camp Negotiation Institute and But what if you don’t? a liar. Any of those is a bad idea. The ues the person making the request, author of No: The Only Negotiat- Says Klett: “Everyone -even sub- right way to say no is to combine all then say something empathic, then ing System You Need for Work and ordinates- should be put on a level three approaches into a kind of super say no,” says Dr. Linda D. Tillman, an Home. “But if the employer doesn’t playing field. But if they really push no- a negative accompanied by a Atlanta-based clinical psychologist. see it, it’s a very easy thing to say, you, then you play the ‘this is how it whole bunch of positives. Tillman calls it ‘empathic assertion.’ ‘I just don’t see what you see, and I is’ card.” Here’s how Tillman tells us she can’t go in that direction.’” That card, of course, is simply no. FIRST, A LITTLE EMPATHY would reject a request for a raise: Because: the company. And it’s a powerful card. It’s bleak. A no means more than just a rejec- “Sam, your work on the McDonald And sometimes it’s necessary. tion of a request; it means a rejection project was outstanding [POSITIV- WHY PEOPLE DON’T NECESSAR- No is an opportunity here, too. It’s of the requester. It means a rejec- ITY]. I can certainly understand that ILY WANT TO HEAR YES an opportunity to end things -maybe tion of the requester’s belief in the you would like more money at this When investors ask you for some- even the relationship- but still, it’s rightness of his or her cause. (And point in your work with us [EMPA- thing, they’re not asking you to an opportunity. However it’s deliv- disagreements over belief always get THY]. However, we won’t be able to accede, necessarily. They’ve chosen ered, no indicates where you stand dicey.) consider raises for anyone until after a path, but if you have a better one, and where the person making the Take one of the most common yes/ the fiscal year is over [DENIAL].” then they want to hear it. request stands with you. When you no questions in business: the request A slightly more efficient approach: “No investor should want you to say no, you equip the other person for a raise. On the face of it, what “Sam, two words: McDonald project say, ‘Oh sure, we’ll do whatever you with your appraisal. Which is a lot. that moment represents for you, the [POSITIVITY]. I feel you on this want,’” says Jared Klett, co-founder Instead of getting what they asked employer, is an awkward conversa- [EMPATHY]. But until next year, I of Blip, which hosts and distributes for, they got something arguably tion in your office. But what that got nothing to give [DENIAL]. Share Take one of the most common yes/no web-based TV shows. “If you say, ‘I more valuable: enough information question represents for the employee a Twix? [CANDY].” needs to be accepted or rejected. If questions in business: the request for a hear you, but I really believe this is to know if they should cut out or is days and days of thought and you establish that kind of context, raise. On the face of it, what that moment the right way,’ nine times out of 10 stay in. You’re giving them power, anxiety and practicing the question HOW TO Make a no seem saying no doesn’t seem obstinate; represents for you, the employer, is an the investor will respect that, and really. Which is all anyone wants. with a mirror and maybe a couple of LIKE A YES it seems honest, thoughtful and awkward conversation in your office. they’ll want to invest more. If they They might be disappointed by your Xanax. The question is just the last It helps to look at requests -for responsible. You’re establishing that But what that question represents for don’t, then you probably don’t want answer, but they’re better off than the employee is days and days of thought step in a very long process. A quick a raise or otherwise- as an alter- you’re both trying to do what’s right and anxiety and practicing the question them as an investor.” they were before. No can be a gener- no way belittles that process. Which nate vision for your business. You for the company. You’re establish- with a mirror and maybe a couple of With an investor, no is just part of ous thing. is why the no should be a minor part might (or might not) like the look ing a principle. And principles are Xanax. The question is just the last step a negotiation. It’s their job to test of the answer. Your response should of that vision. But it’s a vision that helpful- not in an abstract way, but in a very long process. you. It’s your job to push back. No See this article in its entirety at Entrepreneur.com

KEY TECHNICAL MATTERS NO: A RECENT HISTORY 2001 “I never allowed one we don’t.’ It greatly facilitates the in the way.” Rupert Murdoch testifying No always means more Every rejection should be your vision right now. So I’m Saying no is most effective advertisement on the air that I didn’t operation of the company.” - Herb before a British parliamentary panel on than no. When you reject a accompanied by “empathic afraid the answer is no.” when you offer up an like… Image mattered. I was convinced Kelleher phone hacking, after initially refusing request, you’re also rejecting assertion.” Establish a Not this: “Melinda! No.” alternative way forward. it was my job.” - Jack Welch to testify. the requester. connection, then say no. “Nah” is a little flip. Saying no is least effective 2006 “No.” Mark Zuckerberg to Triangulate. Take the pressure For example … “No way” is a little casual. when you preface it with, 2004 “When an issue comes up, Viacom’s offer to buy Facebook. 2012 “Celebrities who ring up and say, off you and your employee Do this: “Melinda! It sounds “Negative!” is a little much. “Are you kidding?” we don’t say we’re going to study ‘Could we have a freebie? Could we and place your rejection in like you’ve thought a lot “I Can’t Go For That (No Saying no is really confusing it for two and a half years. We just 2012 “I don’t know how many times have an upgrade?’… will pay the same the context of what’s right about this. Your points are Can Do)” is a Hall and Oates when you nod your head. say, ‘Southwest Airlines doesn’t do I have to state to you, Mr. Jay, that I as everybody else.” for the company. valid, but I just can’t see song. that. Maybe somebody else does, but never let commercial considerations get - Sir Richard Branson

70 Entrepreneur december 2015 december 2015 Entrepreneur 71 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

French philosopher Denis Diderot When Catherine the Great, the emperor of Russia, heard of Diderot’s financial troubles she offered to buy his library from him for £1000 GBP, which is approximately US$50,000 in 2015 dollars. Suddenly, Diderot had money to spare. Shortly after this lucky sale, Diderot acquired a new scarlet robe. That’s when everything went wrong.

THE DIDEROT EFFECT Diderot’s scarlet robe was beautiful. So beautiful, in fact, that he immediately noticed how out of place it seemed when surrounded by the rest of his common possessions. In his words, there was “no more coordination, no more unity, no more beauty” between his robe and the rest of his items. The philosopher soon felt the urge to buy some new things to match the beauty of his robe. He replaced his old rug with a new one from Damascus. He deco- rated his home with beautiful sculptures and a better kitchen table. He bought a new mirror to place above the mantle and his “straw chair was relegated to the antechamber by a leather chair.”

Like many others, I have fallen victim to the Diderot Effect. I recently bought a new car and I ended up purchasing all sorts of additional things to go inside it. I bought a tire pressure gauge, a car charger for my cell phone, an extra umbrella, a first aid kit, a pocket knife, a flashlight, emergency blankets, and even a seatbelt cutting tool. Allow me to point out that I owned my previous car for nearly 10 years and at no point did I feel that any of the previously mentioned items were worth purchasing. And yet, The Diderot effect after getting my shiny new car, I found myself falling into the same Why we want the things we don’t need- and what consumption spiral as Diderot. to do about it By James Clear These reactive purchases have become known as the Diderot he famous French philosopher Denis Diderot lived nearly his Effect. The Diderot Effect states entire life in poverty, but that all changed in 1765. Diderot was 52 that obtaining a new posses- years old and his daughter was about to be married, but he could sion often creates a spiral of consumption which leads you to not afford to provide a dowry. Despite his lack of wealth, Diderot’s acquire more new things. As a Tname was well-known because he was the co-founder and writer of Ency- result, we end up buying things

that our previous selves never commons creative image diderot denis clopédie, one of the most comprehensive encyclopedias of the time. needed to feel happy or fulfilled.

72 Entrepreneur december 2015 TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

WHY WE WANT THINGS WE the words of sociology professor limit their children’s television Diderot’s scarlet robe was beauti- DON’T NEED Juliet Schor, “the pressure to watching to no more than one ful. So beautiful, in fact, that he immediately noticed how out of Like many others, I have fallen upgrade our stock of stuff is re- hour per day. place it seemed when surrounded victim to the Diderot Effect. I lentlessly unidirectional, always Do you wish someone in your by the rest of his common pos- recently bought a new car and I ascending.” community or at your chil- sessions. In his words, there was “no more coordination, no more ended up purchasing all sorts of dren’s school would take the unity, no more beauty” between his additional things to go inside it. MASTERING THE DIDEROT lead in these or similar efforts? robe and the rest of his items. The I bought a tire pressure gauge, EFFECT I think millions of American philosopher soon felt the urge to buy some new things to match the a car charger for my cell phone, The Diderot Effect tells us that parents do. Television, shoes, beauty of his robe. an extra umbrella, a first aid your life is only going to have clothes, birthday parties, kit, a pocket knife, a flashlight, more things fighting to get in it, athletic uniforms-these are LET GO OF WANTING THINGS emergency blankets, and even a so you need to understand how areas where many parents There will never be a level seatbelt cutting tool. to curate, eliminate, and focus feel pressured into allowing where you will be done on the things that matter. their children to consume at a wanting things. There is always Life has a natural tendency to become filled with more. We are level beyond what they think something to upgrade to. Get a rarely looking to downgrade, REDUCE EXPOSURE is best, want to spend, or can new Honda? You can upgrade to simplify, to eliminate, to Nearly every habit is initiated comfortably afford.” to a Mercedes. Get a new reduce. Our natural inclination by a trigger or cue. One of the Juliet Schor, The Overspent American Mercedes? You can upgrade to is always to accumulate, to add, to upgrade, and to build upon. In quickest ways to reduce the a Bentley. Get a new Bentley? the words of sociology profes- power of the Diderot Effect Have you thought about buying sor Juliet Schor, “the pressure is to avoid the habit triggers a private plane? Realize that to upgrade our stock of stuff that cause it in the first place. wanting is just an option your is relentlessly unidirectional, always ascending.” Unsubscribe from commercial mind provides, not an order you emails. Meet friends at the park have to follow. Allow me to point out that rather than the mall. I owned my previous car for HOW TO OVERCOME THE nearly 10 years and at no point BUY ITEMS THAT FIT YOUR CONSUMPTION TENDENCY did I feel that any of the previ- CURRENT SYSTEM Our natural tendency is to con- ously mentioned items were You don’t have to start from sume more, not less. Given this worth purchasing. And yet, scratch each time you buy tendency, I believe that taking after getting my shiny new car, something new. When you active steps to reduce the flow I found myself falling into the purchase new clothes, look for of unquestioned consumption same consumption spiral as items that work well with your makes our lives better. Diderot. current wardrobe. When you Personally, my goal is not to You can spot similar behaviors upgrade to new electronics, get reduce life to the fewest amount GET OUT in many other areas of life: things that play nicely with your of things, but to fill it with the • You buy a new dress and now current pieces so you can avoid optimal amount of things. I you have to get shoes and ear- buying new chargers, adapters, BUY ONE, GIVE ONE hope this article will help you rings to match. or cables. Each time you make a new consider how to do the same. • You buy a CrossFit member- purchase, give something away. In Diderot’s words, “Let my ship and soon you’re paying for SET SELF-IMPOSED LIMITS Get a new TV? Give your old example teach you a lesson. MORE THAN foam rollers, knee sleeves, wrist Live a carefully constrained life one away rather than moving Poverty has its freedoms; opu- wraps, and paleo meal plans. by creating limitations for you it to another room. The idea lence has its obstacles.” • You buy your kid a new doll to operate within. Juliet Schor is to prevent your number of and find yourself purchasing provides a great example with items from growing. Always be more accessories than you ever this quote: curating your life to include James Clear knew existed for dolls. only the things that bring you writes at • You buy a new couch and “Imagine the following. A joy and happiness. JamesClear.com, YOU PUT IN. where he uses A FitRepublik membership won’t just suddenly you’re questioning community group in your town behavior science the layout of your entire living organizes parents to sign a GO ONE MONTH WITHOUT to share ideas FIT REWARDS get you ﬁt. It’ll get you a free coupon room. Those chairs? That pledge agreeing to spend no BUYING SOMETHING NEW for mastering booklet to spend in our shops, cryotherapy, Nathalie’s Cafe, and even against coffee table? That rug? They more than $50 on athletic shoes Don’t allow yourself to buy your habits, improving more memberships for friends and family. So join now, and reap the rewards. all gotta go. for their children. The staff at any new items for one month. your health, Life has a natural tendency to your child’s day-care center Instead of buying a new and increasing become filled with more. We are requests a $75 limit on spend- lawn mower, rent one from a your creativity. To get useful ideas on rarely looking to downgrade, to ing for birthday parties. The neighbor. Get your new shirt improving your mental and physical simplify, to eliminate, to reduce. local school board rallies com- from the thrift store rather than performance, join his free newsletter JamesClear.com/newsletter.

Our natural inclination is munity support behind a switch the department store. The more To have James speak at your A mazon.com cover A merican verspent always to accumulate, to add, to to school uniforms. The PTA we restrict ourselves, the more entrepreneurial event contact him upgrade, and to build upon. In gets 80% of parents to agree to resourceful we become. jamesclear.com/contact. 045561800 www. trepublik.com he O T he C redit: I mage

74 Entrepreneur december 2015 start it up ecosystem | who’s got VC | Q&A | STARTUP FINANCE

mostly expats in Abu Dhabi Moving pretty and Sharjah, I think it’s safe darn quick to say they could be looking into another GCC country with Startup CamelShip gets your packages delivered a multinational population. (affordably) By Kareem Chehayeb What about mobile and tablet apps? Negative, but that’s okay hipping and courier Branding from the University because the duo take into con- services in the MENA of the Creative Arts in the U.K., sideration that 80% of their region have been on and COO Nimri holds an MBA customers are using CamelShip the up and up for from Carnegie Mellon. from mobile devices. The co- quite some time now. So how does CamelShip founders explain, “We strictly Gone are the days work? It’s quite simple. design [our website] respon- when your parcels Whether you’re shipping from sively for mobile first.” Sare in courier purgatory, where Dubai, Abu Dhabi, or Sharjah, CamelShip is a full-time pri- you’re unsure whether what- you select the city where you ority for Fares Nimri and Sari ever you’re sending will make want to send your package, Issa. So even though they won’t it in the next week (or month). select the dimensions, and challenge. And how many be active in other endeavors That said, there’s still a hurdle then you can access advanta- people are on staff in total? anytime soon, you’ll be sure to for the industry: e-commerce. geous rates from CamelShip’s CamelShip currently has a find them at startup events in While the region’s e-commerce three partners. At the mo- small team of five individuals the MENA region. Both credit industry is growing, it could ment they’re partnered up who are currently covering all ArabNet, STEP, and other always use an extra push here with Aramex, SkyNet, and the of the bases. conferences as contributors and there. For courier busi- UAE’s Parzel Express. Issa and We can’t have a conversation to their “vision and network- nesses trying to maximize their Nimri describe them as “top- about an e-commerce startup ing” in the region. See why customer base in the UAE, this performing couriers in the e- without discussing payments. it pays to participate in the is where CamelShip comes in. commerce sector.” Choose the The duo confirm that users entrepreneurial ecosystem? Former MiddleEat co- courier of your preference, and can pay with both cash and It’s exposure for your business founder, Sari Issa, and former you no longer suffer the “pain credit cards, and also men- both to other entrepreneurs, member of Aramex’s Amman- of booking low-cost express tion that they will be launch- and potentially, a place to meet based GSO operations team, delivery.” They also offer daily ing PayPal as a third payment startup-friendly press. Fares Nimri, built CamelShip discounts for packages heading option very soon. Given that after they noticed a gap they out to Europe, India, and Paki- they’re based in the UAE, and could “bridge” in what they stan. (Speaking of discounts, if that 75% of their customers describe as the “e-commerce you live in the UAE, take note are expats living in Dubai, I space.” Their solution? An of this offer: you receive 25% was curious to know about the online platform that makes off your first shipment by typ- most popular payment method. “shipping cheaper and easier.” ing in “ENT25” as a discount Unfortunately, Nimri and Issa The duo come from different code.) said that they haven’t “noticed educational backgrounds that The co-founders say that any deviations from the norm equipped each of them with CamelShip always kept of paying with cash.” I guess unique skillsets: CamelShip customers involved during even in the MENA region’s IN BRIEF CEO Issa holds a BA in Digital product development, even at e-commerce hub, cash is still CamelShip co-founders Sari Issa and Fares Nimri its earliest stages. They used king for now. When it comes to their target audience’s feedback marketing, CamelShip focuses Which city in the MENA to “optimize the user experi- on “pay-per-click marketing region harbors the best ence.” Smart move. Despite using search engine marketing.” entrepreneurial ecosystem? not having any angel inves- They also focus heavily on SEO “Undoubtedly Dubai. We were tors, Nimri and Issa applied (search engine optimization) delighted by the talent and infrastructure of the UAE. We what they learned from the and social media. Facebook are thankful for Dubai Silicon Lean Launchpad course, which is their favorite social media Oasis and DTEC for supporting they claim “has tremendously platform because “of the higher startups like CamelShip.” cut down costs.” Other than click-through rate (CTR)” and limited capital, they faced some because it also “serves as a What advice would you give technical challenges, namely customer service platform.” to a young and aspiring entrepreneur hoping to make connecting and integrating the Going forward, Camel- it big in the region? different APIs of the partnered Ship hopes to expand to new “Find a gap in the market, courier businesses into their markets in the MENA region, and be the first mover in that system. They gave credit to something that the duo is quite market. Make products that their development team, calling excited about. Considering customers want to use. You them extremely hard-working, that 75% of their users are should have passion for the who were able to work around Dubai-based expats, with the product you’re about to create.” that obstacle and rise to the remaining 25% comprising of

76 Entrepreneur december 2015 AfInterior_Chair_AD_225x300m_21jan_2015_HR.pdf 1 1/21/15 3:23 PM start it up ecosystem | who’s got VC | Q&A | STARTUP FINANCE

that wasn’t just an agency taking a proportion of my spend. I identified Mini Ex- change’s priorities: I needed a team that was driven by data, that was driven by analyzing the trends and the results we were getting, and acting on these metrics and then going at it again, day-on-day, week-on-week. I found this in an amazing team with whom I’ve been working with over the past 12 months, Daphne Digital. They are solely driven by numbers, and we have all of the latest e-commerce tracking codes in the site and track every data point. I highly recommend this to every startup out there. Get as much data as you can

from very early on, as it will C Mini Exchange founder Sarah Appleton receiving the E-commerce Agility Achiever Award from the “Green Sheikh” H.H. Abdul Aziz prove to be very helpful in bin Ali Al Nuaimi at the 2014 Enterprise Agility Awards presented by du the long run. M

The funds CM A year into business, we MY knew that we needed to raise More money money to allow us to jump CY

to the next stage. We were CMY means more opportunity outgrowing the dining room K My startup got funded in Dubai, and now I’m scaling the business table (quite literally!), and I needed to bring tech in- By Sarah Appleton house and hire some other team members. Fundraising ike most entrepreneurs, thoughts of how I could scale my is not easy, it’s not fun, and it doesn’t happen overnight! venture was constantly on my mind. How could I grow Mini Here are my tips on fund- Exchange into a business that could expand to other mar- raising that I gleaned from kets in an innovative way? At the beginning, it was just me my raise: and my agency in London. I would work round the clock - 1. Start fundraising early I still do actually- by signing brands to the site, and working off of Fundraising takes longer L than you think, and you my dining room table. We then got picked up by ArabNet, and were don’t want to get to a stage where you’re desperate for fortunate enough to be chosen as one of the winners in Beirut just cash. Prepare early, take your five months after we launched. The team was getting bigger; we time, and don’t panic if it doesn’t happen in the first brought customer service in-house and data analysts for uploading two months. products, social media, and digital marketing. 2. Keep at it We launched 18 months of funding of US$1.1 million, The path Fundraising is not easy, and ago with just 500 products, which has definitely been Digital marketing was key it takes time to prepare for it and now have over 30,000 my biggest achievement to for us. I knew that I wasn’t in many ways. It takes time products across 120 product date. This raise will allow us very familiar with it, but meet potential investors, and categories. We have also just to achieve our next stage of that meant I had to learn to build good relationships completed our seed round growth. fast and also find a team with potential investors. >>>

78 Entrepreneur december 2015 start it up ecosystem | who’s got VC | Q&A | STARTUP FINANCE

There are lots of ups and your fundraising process. As have a very clear direction Sarah downs, lots of positive tempting as it is to turn your ahead. We are aiming to Appleton conversations, and there are back on an investor that more than double the num- founded Mini Exchange also people that will turn rejects you, you have a lot ber of products on the site at the start you down. Don’t get dis- more to gain by being gra- in the next 12 months, sign of 2014. heartened, and keep going. If cious. Because this is almost over 100 sellers to the site, Previously, you have a good product, you certainly not the last round launch our mobile app and she had a will find the right people to of funding you’re going to an Arabic version of the site, successful invest in your business. raise, or the last startup and expand our marketing career in finance, spending four years at you’re going to launch. efforts even further afield. Deloitte in Mergers & Acquisitions 3. Get a great pitch deck We have a long and excit- advisory, first in London and then in together Fundraising takes longer than you think, and you don’t want ing road ahead- as far as I’m Dubai. After two years in the Gulf, The way you present your to get to a stage where you’re concerned this is just the Appleton left the finance world, company is key. Investors desperate for cash. Prepare beginning. I love my day job, recognizing the potential of the want to see that you’ve taken early, take your time, and don’t I love Mini Exchange and all early-stage e-commerce market panic if it doesn’t happen in the and the Mini Exchange business time to prepare your pitch first two months. that we’re trying to create, model. Appleton and Mini Exchange deck. Don’t underestimate and I love being part of the have been recipients of many the power of first impres- The future startup ecosystem in Dubai. awards in the last year, including sions. For the same reason Mini Exchange aims to The life of a startup is a fun ArabNet’s Start-Up Demo Award, good design matters for become MENA’s number and exhilarating one, full of a listing as one of the 50 Most your product, it matters for one online destination for good moments and challeng- Influential Brits in the UAE, Small Business CEO of the Year Award your presentation. Investors buying and selling mum and ing ones as well. Launching in the Middle East CEO Awards, are just as impressionable children focused brands. my business was the best de- and also as finalists in three of the as your average consumer. We’re already well on the cision I ever made, and one I categories in the Gulf Capital SME Properly designed slides way to achieving this and doubt I’ll ever regret. Awards. send a signal that you know how to build and present a good product.

4. Find the right investors There is a lot of money out there, but in my opinion, it’s key to find the right money. By the right money, I’m referring to the people that will back your business, and that will support you. As one of my lead investors said to me once, “It’s lonely at the top; we’re here to help you.” You need people that recognize that it’s not all smooth sailing, and that there will be bumps in the road. Get the right backers from day one that will support you, add value, and understand your challenges as an entrepreneur.

5. Be gracious when someone says “no” It can be frustrating to hear someone say no to your business- after all you’ve put everything into making this venture happen. You’ll probably hear no more often than you’ll hear yes throughout www.miniexchange.com www.miniexchange.com

80 Entrepreneur december 2015

Entrepreneur-W20.3x27.3Hcms-V3Final-English.indd 1 10/7/15 4:30 PM start it up ecosystem | who’s got VC | Q&A | STARTUP FINANCE

TaskSpotting says. “The thing is, there’s Capital injections www.taskspottingapp.com so much more that a startup needs in terms of adding This MENA app which value beyond money. We for two Middle East crowdsources market re- were particular about find- search announced in early ing a group of investors that startups October that it had closed its ticked all the conventional Series A funding round with boxes, but that we also had Carpool Arabia and TaskSpotting share an investment of US$1.2 great chemistry with. We their tips on getting funded million led by MENA Ven- wanted to find partners who ture Investments (MVI) and genuinely shared our vision a Saudi corporate that hasn’t and were committed to espite the dry and dreary outlook often been named. Co-founder helping us build a great com- attributed to funding startups in the Karim Aly, who had boot- pany- and we were fortunate TaskSpotting founders left to right Head of Operations Walid Sherif, CEO Karim Aly, MENA startup ecosystem, two regional strapped the company to its to find them.” Head of Business Development Dirk Stevens launch at ArabNet’s Digital enterprises –Carpool Arabia and Summit in 2014, claims to THE PROCESS built the trust and rapport TaskSpotting- made headlines recently have a well-aligned, mutu- “The whole process was with one another to allow Tips for MENA Dwhen they each secured substantial investments into ally beneficial relationship unusually fast by regional the formalities of closing startups when pitching growing their businesses. We talked to both startups with MVI, with the focus standards- it took us about the transaction to be very to investors being on more than just three months from initial streamlined.” TaskSpotting co-founder and to figure out how they went about winning this latest the money. “As a startup, discussions to closing,” Aly CEO Karim Aly round of funding, and what one can expect from there’s no denying that the says. “What really helped WHAT HAPPENS NEXT them in the future. money is very valuable, but close this quickly was that At the moment, Aly says 1. Tell a story. “People if your story is compelling we had got to know our that TaskSpotting is focused (even investors) are hard- enough, you’ll find that there investors ahead of any on growing the business, wired to listen to stories. Carpool Arabia Ventures and Dubai-based are a lot of people out there fundraising efforts. This and delivering on the plans They can powerfully grab www.carpoolarabia.com media company Mediaquest willing to write a check,” he meant that we had already they have put in place for and hold someone’s at- have led this new round the same. “Right now, it’s tention far better than any This Dubai-based ride- of investment, with both choosing its investors, de Tips for MENA all about scale for us,” he other delivery. Use it to your sharing company announced companies claiming to Terssac candidly admits that startups when pitching says. “We are building out advantage.” in late September that it be impressed by Carpool it wasn’t a walk in the park, to investors the team, and expanding had raised US$350,000 Arabia’s business potential, saying, “Choosing is maybe Carpool Arabia co-founder into new markets. Naturally, 2. Keep it incredibly in its seed-round invest- with the startup having seen a luxury you have in Silicon and Chief Driver Benjamin de with rapid scale also comes simple. “Until a six-year-old ment, which follows the number of users increase by Valley, but here, it’s more Terssac a need to manage it with (literally) can comprehend the initial $70,000 co-founders 21% month-on-month since about who is crazy enough to more efficient and robust fundamentals of your busi- Benjamin de Terssac and its launch. invest in an early stage tech 1. Don’t be bogged down infrastructure, so technology ness model, then you’re not Guillaume Arnaud had put venture, rather than buying by the naysayers. “Never is another major area we will ready to share it with anyone in to get the startup off the THE PROCESS another apartment in Dubai take a negative answer be investing in.” outside your team yet.” ground in February. French When asked about Carpool Marina.” According to de personally.” venture capital firm Kima Arabia’s methodology when Terssac, the timeline for the 3. Slides are the prop, entire process started with 2. Know your investors. not the narrative. “A slide a wait of three days to get “Don’t waste your time with should have less than 10 Carpool Arabia co-founders Benjamin de Terssac (left) people who have no interest words on it, use big fonts and Guillaume Arnaud the offer, a month to sign the term sheet, and then four in investing in your startup. and include great visuals. more months to get all of the Just move on to the next Don’t rely on the slides to tell paperwork in place. investor.” the story, otherwise there’s no point for you to be in the WHAT HAPPENS NEXT 3. Keep a realistic vision. room!” With the funding they have “If you plan to do crowdfund- secured from Mediaquest ing, don’t over-estimate the 4. Build trust. “Stress your and Kima Ventures, de appetite your friends and strengths, acknowledge your Terssac says that the stake family have toward investing gaps and tell them how you will be used to launch the in your startup.” plan to fill them before they Carpool Arabia app before ask you. This will take you the end of the year, and 4. Online pitches can much further than pretending also to roll out a marketing work. “Don’t listen to people that they don’t exist or wait- campaign that will advertise who tell you never to apply ing for someone else to bring the startup’s services across online to a VC- it actually them up.” Dubai. works sometimes.”

82 Entrepreneur december 2015 december 2015 Entrepreneur 83 money ask the money guy | vc viewpoint | your money | ECON

The key factors that lead to the collapse of knowledge- based startups include: > Inexperience and a weak management team > Failure to plan > Failure to evolve > Inability to raise funding

These factors are interlinked and operate in a manner that generates a vicious cycle, which ultimately leads to the failure of the startup. This article provides a brief description of the challenges associated with the last factor, i.e. fundraising, with an aim to inform potential entrepreneurs and raise their awareness of such challenges, and help equip them with key insight to help them plan for success.

Some entrepreneurs succeed in attracting the VCs to invest in their venture; however they fail to close the deal during the negotiations. Many entrepreneurs take on an adversary attitude during the negotiations, because they believe that VCs are out to take Critical points advantage of them. Most venture capitalists to note for have certain investment criteria and investment continued access strategy that determine which companies they will include in their portfolio. of time, resources, and not 2. Take the time to research access to capital, particular- to capital These criteria may be based to mention the anxiety and the venture capital industry ity during the early stages of on the nature of industry, stress that comes along to match the characteristics the firm when it is most vul- How to overcome fundraising challenges the company’s products and with the numerous rejec- of the proposed investment nerable to expenses and lack services, geographic locations. Therefore, to improve with the investment strategy of funding. For this reason, for your startup By Dr. Abdelhakim Hammach tion, internal rates of return your chances of funding, and criteria of the VC firm. entrepreneurs must prepare (IRR), stage of develop- you must target the right a solid business case and a ment or amount of capital investors. For, your com- 3. Be prepared before com- strong team before meeting y nature, entrepreneurs are very enthusiastic, optimistic, required. While the average pany’s stage of development munications or interactions with potential investors. venture capital firm will see will determine the kind of with any potential investors, Investors will use every op- and risk-taking individuals. However, these same positive thousands of business plans venture capital investor since you will never get a portunity of communication attributes can sometimes lead them blindly to failure, as per year, it will only consider you’ll approach, and the second chance to make the and interaction with you >>> a few dozen candidates and structure of the financing first impression. many get so captivated by their business model, products, may actually close only six you’ll receive. Accordingly, There are several factors Most venture capitalists have cer- deals or less per year. before starting the search for that can help entrepreneurs tain investment criteria and invest- Bor services that they fail to see potential risks or limitations to ment strategy that determine which However, most entrepre- capital, it’s important to: overcome the tough chal- companies they will include in their their potential targeted market. neurs blindly target any VC lenges typically associated portfolio. These criteria may be firms, without any con- 1. Identify which stage of with launching and growing based on the nature of industry, the company’s products and services, sideration to the strategic business development and a successful business. The geographic location, internal rates focus of such firms. This what type of financing you most important of these are of return (IRR), stage of develop- results in unproductive use require. also critical for continuous ment or amount of capital required.

84 Entrepreneur december 2015 december 2015 Entrepreneur 85 money ask the money guy | vc viewpoint | your money | ECON

idea by dismissing any chal- to take advantage of them. If lenging questions will hurt you find an investor willing your efforts. If your VCs are to invest in you, don’t waste interested in your business this unique opportunity, plan, expect some tough and understand that VCs are questions from them. If they also required to protect their lose interest in you, they will interest. Find a competent go easy on you, and there attorney and try to negoti- won’t be a second meeting. ate a winning deal for both Similarly, if you try to parties. If you are in the hide any information or fortunate position of having downplay past business more than one VC firm in- failures, your potential terested in funding you, you investors will learn about will probably get a better these during the due dili- valuation than if you were to gence phase, and they will have only one investor. Use not fund you. Past business this to develop a better term failure is not necessarily a sheet from both by using the deal killer so long as you are BATNA (Better Alternative able to demonstrate that you To a Non-negotiated Deal) have learned from it, and framework. However, don’t you now know how to avoid overplay this to the point such failure in the future. where both firms would walk Some entrepreneurs suc- away from you. ceed in attracting the VCs to invest in their venture; how- The key to your success in the fundraising process will hinge ever they fail to close the on the aforementioned criteria deal during the negotiations. and how confident you engage Many entrepreneurs take on the VCs. You must balance your an adversary attitude during confidence with a healthy dose of realism so as not to appear There are several factors > A validated market need the negotiations, because as unaware of potential risks to that can help entrepreneurs > Compelling strategy (and they believe that VCs are out your new venture. overcome the tough challenges preferably with unfair com- typically associated with launching and growing a petitive advantage), reason- successful business. The most able deals details (funds important of these are also deployed thus far, use of Dr. Abdelhakim Hammach is the critical for continuous access funds, valuation, etc.) Managing Director of Riyadh Valley to capital, particularity during Company (RVC). Dr. Hammach is a the early stages of the firm senior executive with over 20 years when it is most vulnerable to The key to your success in of leadership and management expenses and lack of funding. the fundraising process will experience in R&D, venture capital hinge on the aforementioned investing, and strategy consulting for to evaluate you, your capa- criteria and how confident global organizations in USA, Europe bilities, and your motiva- you engage the VCs. You and the MENA region. Before his tion. Therefore, if you come must balance your confi- current role at RVC, he was a senior strategy consultant with Accenture, across as unprepared or una- dence with a healthy dose of where he advised leading global ware of potential risks and realism so as not to appear organizations in the U.S. and Europe challenges of your venture, as unaware of potential risks on issues of growth strategy. Before investors will dismiss you. to your new venture. While joining Accenture, Dr. Hammach was a Keep in mind that angel in- passion and dedication will Venture Capital Investment Consultant vestors or venture capitalist help you, overselling your with Aurora Funds in the North Carolina’s Research Triangle Park, are considering the follow- USA. Prior to this, Dr. Hammach was ing criteria when you are Find a competent attorney a Principal Scientist with Boehringer presenting your business and try to negotiate a Ingelheim Pharmaceuticals (BIPI) in Connecticut, USA. Dr. Hammach has plan to or discussing it with winning deal for both par- served as a judge to the Duke Startup Challenge on many occasions, and he them: ties. If you are in the fortu- has also been actively involved in mentoring entrepreneurs both in the U.S. nate position of having more > Management and its cred- and in the MENA region. Dr. Hammach served as a Postdoctoral fellow at the GET YOUR than one VC firm interested chemistry department of the University of Pennsylvania after having earned a ibility (leadership, intellec- in funding you, you will Ph.D. in Chemistry from the University of Vermont. He also holds a MBA from tual honesty, vision, motiva- probably get a better Duke University, and a B.S. in Chemistry from the University Moulay Ismail of TICKET NOW! tion, historical success and valuation than if you were Meknes Morocco. He is an inventor with 18 U.S. patents and has coauthored failures, etc.) to have only one investor. numerous articles in leading international journals. WWW.RISEUPSUMMIT.COM/TICKETS

86 Entrepreneur december 2015 start it up ecosystem | who’s got VC | Q&A | STARTUP FINANCE

local market still is con- IN BRIEF siderably small and young What are some of the Let’s go for a ride! comparing to other markets,” biggest misconceptions contrasting it to Qatar’s GCC about platforms like Qatar-centric Q-Cab hopes to neighbor, the UAE, which Q-Cab? he thinks harbors the best “The lack of awareness of the entrepreneurial ecosystem in latest technologies and mar- quell transport inconveniences the MENA region. That said, ket trends among the resi- By Kareem Chehayeb they’ve partnered up with dents in Qatar is our biggest limousine companies for the challenge, where we need time being. At the moment, to change their mentality. -Cab’s three founders, Tariq A. Awadallah, they’re currently teaming Also, the local market still is Nasser A. Hatbeen Al-Yafei, and Ali S. up with the Al-Mahdani considerably small and young Muthanna Al Yafei, have all felt the heat in Group’s transportation comparing to other markets Doha… no pun intended. It’s certainly a pain to department. That said, such as the U.S., Europe, and wait outside in the heat for a cab, and it’s very those in Qatar who want to UAE.” Q make their taxi experience a annoying for cab drivers to do the same. The trio was burden-free, fear not; Q-Cab What advice do you have able to get their startup funded and supported by Qatar still want to partner up with for a young and aspir- Business Incubation Center (QBIC). After receiving a taxi companies, it’ll just take ing entrepreneur? generous QR100,000 to push their startup forward, some time. “I advise them not to let the The Q-Cab team is also both social media platforms discouraging environment and “we went through a lot of market research,” says working hard on the market- as solid tools to create high people around to stop them Awadallah, who explained how the team went through ing front as well, focusing levels of user engagement. following their dreams or to app alternatives to make sure that they include features on their main demographic, You might also see Q-Cab as let it go.” that would benefit their target audience the most. It’s “tourists, visitors and new a startup event transporta- arrivals to Qatar.” Makes tion sponsor, so be sure to Which Middle Eastern like Uber in a way, where Q-Cab takes “20% off each sense, as more people are give them a shot. GET ON BOARD WITH QBIC city do you think har- trip recorded in our platform.” moving to Qatar with their What’s next for Q-Cab? It took about 10 weeks for Q-Cab to develop a well-established tem, Awadallah is positive bors the best entrepre- families, they could certainly The app is currently avail- business plan, which is the duration of the Lean Startup about it. “I have joined QBIC neurial ecosystem? A BETA version of the app Awadallah mentions that use their services. “Cur- able only on Android Program- a training and coaching workshop provided QBIC in the first wave, where I “I think Dubai has the best was officially released in they changed menu options rently we are focusing on platforms, but Awadallah for entrepreneurs. One of QBIC’s programs includes the Lean have learned about entre- ecosystem, where it has an late October, “to check the and added a feature for sav- marketing through social assures us that he wants to Startup Program, which provides real-world, hands-on learning preneurship for the first open market, lots of compa- functionality of the app ing favorite locations. Have media,” says Awadallah, who bring iPhone users into the experience on how to successfully start a company. Awadallah time,” says the co-founder. nies and investors, and the and to have the customers’ the customers been satisfied also announced that Q-Cab mix too. Any talks about mentions that during the Lean Startup Program he was coached “Since then, incubation most important [aspect] is the feedback.” That was a smart thus far? So far so good, will have a competition expansion? “At this stage we on how to develop and present an attractive business idea to and entrepreneurship have helpful environment which move by the co-founders, as with the startup taking con- for users to win a free ride are focusing on local market QBIC board members and investors. His overall goal was to expanded dramatically,” cit- encourages entrepreneurs to they were able to “fix some structive criticism into con- voucher worth QR50. Also, until we have a sufficient grab their attention and persuade them to incubate and invest ing that QBIC is on its fourth go forward.” bugs and improve the app’s sideration. The trio has also expect them networking at market share that allows in Q-Cab as a startup. “My idea was selected among 15 other wave of supporting startups. performance,” and even been talking with drivers to your nearest startup event. to expand in the GCC and business ideas presented to QBIC. My business requires the Even though he is excited tweaked some of the features see how the experience has You’ll find them most active MENA regions.” fund, administration office, support and communication with about Qatar’s prospects, he’s based on customer feedback. been on their end. Smart. on Facebook and Twitter Despite the limitations for local authorities and related parties. The same finance policy focusing on Q-Cab for the Unfortunately for Q-Cab, where “most of their follow- their service in Qatar’s bud- is applied to all incubated startup businesses, where it starts time being, but hasn’t ruled in a world where the market ers are active.” He also sees ding entrepreneurial ecosys- with a QR100,000 for the first three months for each business out new entrepreneurial can be reluctant to change, team, and then the incubatees can apply for and additional endeavors in the future. they still have a few obsta- QR200,000 for each business team, which are interest-free With all the challenges cles they need to overcome. loans and must be returned within a two-year incubation Q-Cab is currently facing, Having initially designed the contract.” The main challenge, according to the entrepreneur, was Awadallah offers advice of app for taxis, they struggled to have solid customer validation paired with valuable feedback persistence and perseverance to convince taxi companies from taxi users and to search for what customers really require. for aspiring entrepreneurs: to get on board. While Based on his experience, he advises entrepreneurs to come up “I advise them not to let the Awadallah struggled with with ideas which can solve real customer needs, in addition to discouraging environment the inefficiency of the exist- providing exactly what the and people around to stop ing companies and having to customer really wants. QBIC headquarters them following their dreams talk to various management “It is important because or to let it go.” There are levels, the biggest problem the entrepreneurs are the clearly a few obstacles that was that “they obviously had movers of the economy the trio and their three other a lack of awareness about who can create new team members will face, but the benefits of the app.” He businesses, opportunities they seem more determined Q-Cab co-founder Tariq Awadallah also mentions that “the and jobs.” www.qbic.qa than ever to overcome them.

Finance goes digi MAKE A RIDE OUT OF ANY DRIVE. Five fintech startups THE ALL-NEW NISSAN MAXIMA 2016. to watch 4. Square By Alexander Rauser Square basically did what every fintech company dreams of. Square removed the FEEL AGAIN. raditional financial institu- hassle and expense of processing credit tions, out of date systems and card payments for businesses by creating lots of money are at stake with a simple, tech-driven answer. Square will the revolution in financial send you a free credit card reader. All tech. Fintech companies are business owners have to do is download Ttransforming the banking experience by the app and start using it for payments. offering easy payment processes, oppor- 2. Wealthfront How do they make their money? Through tunities to save consumers’ money, ways Wealthfront is one of the larger influenc- higher transaction fees, but these don’t to promote financial services such as ers in the automated financial advisory seem to turn users away, as they are investments and planning, and ultimate- space and has $1 billion under the man- more interested in flexibility and free- ly by driving the industry into the next agement of its proprietary algorithms. dom. Square is valued at $6 billion. generation of banking. Wealthfront’s competition is Betterment, www.squareup.com The financial industry has been so lim- Personal Capital and Intelligent Portfo- ited by process and tradition that it has lios from Charles Schwab. Its success is fallen behind in terms of innovation and attributed to the fact that the company digital development, leaving opportuni- attracts millennial investors who don’t ties for less-established fintech startup buy into some of the more traditional businesses to seize opportunities in the opinions. Wealthfront just raised an ad- marketplace. As a result, huge financial ditional $64 million in their latest round institutions are being left behind, while of funding. www.wealthfront.com startups that provide helpful, personalized services are driving more and more users to their apps and/or websites everyday. Let’s look at some of the top fintech startups to watch in 2015 and the ser- 5. Venmo vices each company offers: Venmo has revolutionized the digital wallet world by developing a method of paying your friends back with an easy-to-use social app that is free from transaction fees. The company began as a startup, but was acquired by online financial king PayPal in 2013. The company reports zero revenue, however, it is helping promote the name of its bigger partner PayPal, now bringing in $7.9 billion a year. www.venmo.com

3. Currency Cloud Alexander Rauser has over This fintech startup is gaining market 15 years of experience in the share in the international payments digital media industry with Starting Price 1. BillGuard space, an area that is currently 85% both a creative and a technical background. He studied media BillGuard started its journey as a ser- controlled by banks. The London-based engineering in Germany with QR. 120,000 vice to help users identify hidden fees company is popular amongst smaller a double major in online and charged from their banks. It has since businesses due to the agile nature of the offline media. After heading then grown into a fraud monitor and platform: the features are added and the digital division of a Dubai- spend tracker where users are pushed adapted quickly, a feat that traditional based agency for five years, he fulfilled his long warnings to their devices when suspi- banks are failing to achieve. Currency ambition to found Prototype Interactive in 2010, an nissanqatar nissanqatar.com interactive agency specializing in digital solutions cious activity occurs. So far, BillGuard Cloud has just received $10 million in for web, mobile and social media. The company is has flagged over US$50 million in suspi- the latest round of funding and almost now considered as one of the top digital agencies in SALEH AL HAMAD AL MANA CO. (Exclusive Agent) cious transactions for its users. acquires half a billion in payments per the country working with international and regional www.billguard.com month. www.currencycloud.com brands. Talk to him on Twitter at @ARauser. Main Showroom: Salwa: Tel: 4428 3333, Al Sadd Showroom: Tel: 4444 1334, Bin Omran Showroom: Tel: 4488 8618 Showroom Timings: 8:00am to 9:00pm (Sat-Thu); 4:00pm to 9:00pm (Fri). 90 Entrepreneur december 2015 OYSTER PERPETUAL DAY-DATE 40