A draft regulation for crowdfunding Crowdfunding in the UAE Also, nearly half of all companies registered in Dubai are early stage startups. “Covid-19 rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities to scale. Visit a place frequently? The UAE’s starup community will emerge stronger in 2021 as it gets ready to embrace new paths of growth. Over the last few months, we have researched and come across some brilliant and innovative new companies in the Middle East. More. You can change your cookie settings through your browser. Screen, analyze and compare projects in the Middle East and North Africa across Infrastructure, Real Estate, Industrial and Energy sectors with Refinitiv’s Eikon. The UAE has long been synonymous with change and innovation. “Increased activity will translate into increased competition, especially as contemporary customers are well aware of their choices. Offices In: UAE. Group of entrepreneurs and business people sitting at the table and discussing potential cooperation and joint projects. Repeat. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. Eureeca is the place to find, invest in and support new businesses and ideas. Sajid Azmi, founder and chief executive officer, Yegertek, said: “Pandemic induced restrictions accelerated the growth of e-commerce, but this should not be seen as a temporary transition. The following list contains the top 60 startups in the Middle East. Roberto Croci, managing director of Microsoft for Startups MEA, said: “The UAE has all the ingredients to become a vibrant hub for start-ups, underpinned by effective public-private partnerships and fast regulatory decision-making. The Magnitt report ‘2021 Emerging Venture Markets Report’, released on Tuesday ranked Egypt second for both total funding with $179 million (up +31 per cent ) and number of deals (down -10 per cent) and fast-growing Saudi at third place for total funding with $152 million (up +55 per cent), with the number of deals seeing the highest increase in Mena, up by 35 per cent, which is made more remarkable when compared with the slow-down in the rest of Mena. The UAE has long been synonymous with change and innovation. 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Cofounder.ae – Startup and Founder Stories from UAE – Technology Startups, Investors, Incubators, Accelerators, Funding and More! Not only has a much larger subset of customers become used to the convenience of e-commerce, the services on offers have also been enhanced. By tracking and analysing startup investments in 19 countries and counting, we have been able to provide real-time intel to governments, founders and investors to support them in making informed decisions and policies,” added Bahoshy. Private equity (PE) and venture capital (VC), as sources of funding, are slowly picking up in the UAE. Top Story . Dubai-based home services startup MoveSouq.com has closed a $3m funding round at an undisclosed valuation, it announced on Tuesday. By tracking and analysing startup investments in 19 countries and counting, we have been able to provide real-time intel to governments, founders and investors to support them in making informed decisions and policies,” added Bahoshy. The market now has more appetite for mental health services.” — sandhya@khaleejtimes.com, The UAE is Africa’s fourth-largest global investor with an... READ MORE, Abu Dhabi Sustainability Week 2021 consists of a series of high-level ... READ MORE, The acquisition will be another step towards cementing Agthia’s ... READ MORE, Natural gas will play a leading role in national energy strategies... READ MORE, Dubai authorities tighten rules to keep residents, tourists safe from ... READ MORE, Dubai Tourism has put all entertainment activities on hold until... READ MORE, UAE doctors have put his fears to rest, saying: Men looking to have... READ MORE, The scourge has killed over 2 million people worldwide. Ally Salama, CEO, EMPWR, said: “Traction and startup business in mental health means less stigma, and more marketing, education and awareness. Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. The UAE's startup ecosystem is poised to become more buoyant as 2019 unfolds with more appetite for seed funding as well as for larger funds at the Series B level. This marks the first investment by an Israeli venture capital fund in a UAE-based tech startup since the normalization of relations between Israel and the UAE . Cocoon Venture, a Dubai based Venture Capital firm, primarily focuses on making investments in early-stage Information Technology and Internet of Things (IoT) software companies that thrives on the passion and success. Magnitt’s latest report analyses and compares investments in technology startupscheadquartered in Mena, Pakistan, and Turkey, as the Dubai-based data platform expands its coverage beyond Mena and into emerging venture markets (EVMs). Try to raise fund through Eureeca crowdfunding platform. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020. Eureeca is the place to find, invest in and support new businesses and ideas. “This is the second … macro_adspot: ©2021 Galadari Printing and Publishing LLC. Last year saw a record number of 366 startup deals across the MENA region, … UAE start-up inks deals to expand online B2B marketplaces into the US, Australia “We are currently raising a funding round which has attracted great interest from multiple investors, both larger Angel investors and also from VCs,” Haisam Jamal, co-founder and CEO of Distichain, told Arabian Business in an exclusive interview. Have news to share? “Covid-19 rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities to scale. Add to this the inherent advantages e-commerce offers businesses in terms of market penetration, and it’s clear that growth in the sector will only accelerate.”. VC funds typically providing funding in return for minor equity stakes in start-ups or young SMEs (often technology companies) that are not traded publicly. The UAE’s starup community will emerge stronger in 2021 as it gets ready to … In fact, any business has money at its core. READ MORE, UAE fights Covid: Dubai suspends entertainment on board vessels, floating restaurants, Dubai fights Covid: Eateries get new social distancing rules, Coronavirus: UAE reports 3,552 Covid-19 cases, 3,945 recoveries, 10 deaths, Dubai fights Covid: New gym rules announced, Covid-19: Emirates suspends flights to Copenhagen, UAE expats harassed in viral video, 4 men arrested, Rise in Covid-19 cases: UAE police, doctors issue advisory for residents, Myth busted: Covid-19 vaccine won’t affect men’s fertility, Dubai parties, weddings: Maximum number of guests reduced, UAE-US flights: Mandatory Covid test for all travellers, aged 2 and above, Russia’s Sputnik V vaccine in UAE: All you need to know. This website uses cookies to improve your online experience. September 23, 2020 September 23, 2020 … Crowdfunding is the practice of funding a project by raising money from a large number of people through licensed online platforms. They were placed on your computer when you launched this website. The startup community is certainly witnessing a spurt in mental health services and is gaining traction among businesses. Source: Khaleej Times. Microsoft has long provided the infrastructure and tools to support their work.”. A15, an entrepreneurial company develops and invests in digital products and tech brands. Add to this the inherent advantages e-commerce offers businesses in terms of market penetration, and it’s clear that growth in the sector will only accelerate.”. All Rights Reserved. Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. We are passionate about entrepreneurs and teams that have taken … UAE-headquartered fintech startup, Ziina, has announced that it has raised seed funding led by OTF Jasoor Ventures, with participation from Class 5 Global, Long Journey Ventures, Graph Ventures, Jabbar Internet Group, FJ Labs and Wamda. 14 Jan. UAE startups top in funding, deals led by ecommerce in 2020. Microsoft has long provided the infrastructure and tools to support their work.”. Saudi Arabia saw dramatic growth, up 55 percent with $152 million of funding, with the biggest increase in the number of deals across the region, up by 35 percent. Speaking of the launch and funding for Fenix, IQ Sayed, in a press statement said, “The … AstroLabs Dubai Skyline. This will mean implementing data driven machine learning operations, enhanced omni-channel engagement, and personalised services that leverage customer data effectively,” added Azmi. Image used for illustrative purpose. Lessons of 2020 indeed impart a new meaning to resilience as the startup community received a stronger government support in various forms of sops, with Mena startups raising over a record $1 billion of investment in 2020, indicating a 13 per cent increase year-over-year. So new businesses must find innovative ways to sustain themselves. Not only has a much larger subset of customers become used to the convenience of e-commerce, the services on offers have also been enhanced. Dubai Startup Hub, the entrepreneurship initiative of the Dubai Chamber of Commerce and Industry, has launched eight specialized sector guides for entrepreneurs to help them launch their startups and do business in the UAE. Startups. The nation displayed a unique ability to tackle challenges — be it global or regional — making it the most vibrant regional player both in terms of deals and funding. Copyright © 2021 Khaleej Times. The financials of the funding deal were undisclosed. “Increased activity will translate into increased competition, especially as contemporary customers are well aware of their choices. All Rights Reserved. Founders. The news is made all the sweeter by the fact that the announcement has coincided with the peer-to-peer payment app being chosen for Y Combinator’s winter 2021 … Quickly uncover hidden opportunities with comprehensive data and content. (File photo) Platform offers SMEs crowd funding and peer to peer finance. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Careem. macro_action: article, UAE startups top in funding, deals led by ecommerce in 2020 The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68% of total deals disclosed in 2020 Group of entrepreneurs and business people sitting at the table and discussing potential cooperation and joint projects. Businesses will need to adopt technology strategically and in a way that differentiates their offerings. This makes funding or initial investment the most important part of a startup cycle. Dubai startups get new funding sources. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020 and once again, the UAE ranked first and accounted for the lion’s share of total funding and the highest number of deals in Mena, representing 56 per cent of all capital deployed across Mena (26 per cent), with 129 deals and $579 million in funding in 2020. UAE's micromobility startup secures $3.8mln funding led by Israeli VC. The Magnitt report ‘2021 Emerging Venture Markets Report’, released on Tuesday ranked Egypt second for both total funding with $179 million (up +31 per cent ) and number of deals (down -10 per cent) and fast-growing Saudi at third place for total funding with $152 million (up +55 per cent), with the number of deals seeing the highest increase in Mena, up by 35 per cent, which is made more remarkable when compared with the slow-down in the rest of Mena. 3.7K views Team. Sajid Azmi, founder and chief executive officer, Yegertek, said: “Pandemic induced restrictions accelerated the growth of e-commerce, but this should not be seen as a temporary transition. Much of this has been driven by SMEs and Startups, which are often at the forefront of fresh ideas – in many ways they can be considered the lifeblood of the UAE commercial spirit. Handout via Fenix . Fenix scooters. TaxBuddy.com,a Mumbai-based fintech startup, on Monday raised $1 million in early-stage funding from UAE-based fund Zenith Global. The rise of an app that helps UAE nannies save, invest and borrow _____ Philip Bahoshy, founder of the online start-up community Magnitt, said more start-ups in the region are now tackling innovation challenges in the solar and renewable energy space, with 30 listed on the Magnitt platform. As in previous years, the UAE, Saudi Arabia and Egypt accounted for the bulk of start-up funding at 68 percent, with the UAE taking the lion’s share of funding at 58 percent. The other option is SeedStartup, one of the first private business accelerators and seed funding companies founded in Dubai. Infrastructure and tools to support their work. ” and ideas neither we our... Times news alerts on Telegram Asia and Europe, we have researched and come some... Differentiates their offerings hubs — the UAE consists of foreigners who are in the e-commerce space well... 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