Paradigm shift 11 leadership guidelines for the digital age

FOLLOW
THE LEADERRegional head honchos talk
strategy, industry-specific tactics,
and professional challenges

Elie
Khouri
The CEO of Omnicom Media Group
MENA reveals the factors that are
governing his leadership of
the pioneering marketing services
group in the region

Thumbay Moideen Adeeb Ahamed

Dr. Reem Osman Ahmed El Alfi
H.E. Shamsa Saleh Farid Chedid
Osman Sultan Shailesh Dash
Dr. Karim El Solh Ahmed Abou Hashima
Shamsheer Vayalil Hazel Jackson
Essa Al Zaabi H.H. Sheikh Saeed Obaid Al Maktoum

july 2017 | [Link]/me | UAE AED20

 july 2017
CONTENTS

26
Farid Chedid,
Chairman and CEO,
Chedid Capital Holding

20 64 42 80
INNOVATOR: INNOVATOR: INNOVATOR: MONEY:
FOLLOW THE LEADER Disrupting the Disruptive diagnosis ECON
Enterprise head honchos culinary world Ziad Makhzoumi Setting the stage [to scale
talk strategy, industry- Some of MENA regions This seasoned businessmans your business]
specific tactics, and top entrepreneur-chefs new project is all set to make Samy Elsheikh, legal
professional challenges building their own F&B waves in the healthcare associate in SME Law,
Insights and inspiration from enterprises offer insights sector. offers a primer on what a
15 business leaders impacting on turning passion for food seed funding round entails
the MENA market today. into a successful business. 48 for a startup.
TREPONOMICS:
PRO 50
Paradigm shift TECH:
Liri Andersson, founder, this SHINY
fluid world, and Ludo Van #TamTalksTech
der Heyden, Professor of Gadgets and doodads
Corporate Governance and that you mightve missed
Technology and Operations out on, sourced by a tech
Management at INSEAD, aficionado. Yes, its okay to
offer 11 leadership guidelines want them all and no, its
for the digital age. not our fault.

28 H.E. Shamsa Saleh, CEO, Dubai Women Establishment and Secretary

General, UAE Gender Balance Council

july 2017 Entrepreneur 3

CONTENTS july 2017

58 Elon Musk speaking alongside Irish Taoiseach (Prime Minister)

Enda Kenny at The Summit

58 54
CULTURE: TREPONOMICS:
LIFE ESQUIRE GUY
A one-page leadership Making working together
textbook work
Business coach Murtaza The Esquire Guy on what
Manji dissects Elon Musks goes into building a perfect
leadership style from the collaboration.
entrepreneurs recent email
to his staff. 44
TREPONOMICS:
74 70 56 PRO
START IT UP: TECH: CULTURE: Finding the right hires
ECOSYSTEM GEEK LIFE Talentera General Manager
A helping hand Going deep on food tech The power of delayed Muhammad Younas
Dubais new culinary Freedom Pizza founder Ian gratification explains seven reasons why
incubator Kitchen Nation Ohan takes a look at digital James Clear writes on the a career portal solution
wants to help F&B startups disruption in the F&B one quality that people are needs to be a companys top
stand on their own feet. industry. more likely to succeed with. priority.

elon musk image Dan Taylor / Heisenberg Media

22
Elie Khouri, CEO,
OMG MENA

8 Entrepreneur july 2017

Leaders in Project Management

[Link]
CONTENTS july 2017

74 Culinary incubator Kitchen Nation wants to help F&B startups

stand on their own feet

82 78
CULTURE: START IT UP:
LIFE Q&A
Getting social @ work No more excuses
Ema Linaker, Director UAE-based Flexible fitness
of Digital at Edelman marketplace FittPass wants
MEA, on why corporate to get the region moving
communications will never (and saving).
be the same again after
social media.
50 Lenovo Legion Y720 Laptop in UHD

52 60 57
CULTURE: START IT UP: IN THE LOOP
TRAPPINGS STARTUP FINANCE Careem crosses US$1 billion
Trep gear We got funded! in valuation
The executive selection for A low-down on how HR The MENA-based ride-
the entrepreneur on your technology company Bayzat hailing app has raised
list that has everything. and hospitality startup US$150 million to close
Okay, maybe for a little blueground clinched their its Series E round of $500
self-reward as well. latest fundraising wins. million.

64
Jason Atherton,
founder of the
Social Company, a
restaurant group
that includes Marina
Social restaurant in
Dubai Marina

10 Entrepreneur july 2017

 MIDDLE EAST
EDITOR IN CHIEF Aby Sam Thomas editor@[Link]
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All rights reserved 2016.
CONTRIBUTING WRITERS Opinions expressed are solely those of the contributors.
Liri Andersson Alex Malouf Entrepreneur Middle East and all subsidiary
Fida Chaaban Murtaza Manji publications in the MENA region are officially licensed
exclusively to BNC Publishing in the MENA region by
James Clear Ross McCammon
Entrepreneur Media Inc.
Samy Elsheikh Ian Ohan No part of this magazine may be reproduced or
Imad Hammad Ludo Van Der Heyden transmitted in any form or by any means without written
Ema Linaker Muhammad Younas permission of the publisher.
Ali Malik

Images used in Entrepreneur Middle East are credited when necessary. Attributed use of Printed by Raidy Emirates Printing Group LLC
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12 Entrepreneur july 2017

EDITORS NOTE

Take care of your brand

Your business needs to be prepared
to handle a crisis

E
arlier this week, I came well for its brand perception in the
across a controversy play- market at large. At the moment,
ing out on the official Ins- this radio silence can be perceived
tagram page of an influen- as everything from sheer laziness
tial Dubai-based company, to utter callousness-all of which
wherein a horde of social media are characteristics that your brand
users were accusing it of apparently should definitely not want to be as-
ripping off a F&B concept built by sociated with.
a homegrown local F&B startup. But such a concern seems to elude
As I went through the comments, I most brands, big and small, in this complete ownership of all your IP
found out that the crux of the issue region- there seems to be a tenden- assets in writing. At the same time,
was that the latter company had cy wherein companies here, when make sure you have a plan in place
spent two years planning, refining faced with a crisis or complaint in terms of your recourse if your
and launching its concept, only to on social media, prefer to, kind of, IP has been compromised- dont
have the aforementioned conglom- stick their heads in the sand, and, simply bet on appealing to the
erate later come along, essentially sort of, wish the problem away. Its goodwill of people, instead have a
copy the idea, and then announce it a pity that this continues to be a strategy crafted and in place, should
as its latest new enterprise- yeah, norm of sorts, as I believe that the such a situation arise. Taking the
you should now be able to see why smarter (and perhaps easier) route time out to do this in the initial
there was so much outrage in re- to take in these kind of situations stages of your business may seem
sponse to that particular Instagram is to start by simply acknowledg- unnecessary or unwarranted- but
post. ing the issue- you dont even need then again, it is always better to be
At the time of writing this note, to agree with the complaint, just safe rather than sorry. If you want
it has been four days since the show that you are a brand that to stack the cards in your business
controversial Instagram post came is, at the very least, attentive and favor, start with the basics- after
out, and there were now a flood of listening. Once you have done this, all, some of the worlds most re-
comments on it- but I couldnt see take the time out to get your people markable entrepreneurs succeeded
a response from the company who together, and decide your position due to foresight, plain and simple.
had posted it in the first place. Now, on the matter of dispute. Putting
this is the part I found perplex- this together might take a while,
ing- after all, the whole point of and thats perfectly okay- as long as
a company having a social media you have recognized the issue in the
presence is to allow for interac- first place. Just dont go the silent
tion with its customers, and this treatment route- it doesnt do your
is especially important when they brand any favors at all.
are complaining about something At the same time, this particular
or the other. Of course, the ideal issue has also brought to the fore
scenario would be to have replies the relatively unaddressed topic
to such comments happen instan- of the importance of startups and
taneously, but the fact that, in the SMEs protecting their intellectual Aby Sam Thomas
aforementioned case, its been four property- if you are building a busi- Editor in Chief
days and the original poster has yet ness of your own, rest assured @thisisaby
to make a response doesnt bode that its worth the effort to have aby@[Link]

14 Entrepreneur july 2017

IN THE LOOP

#MENAExits
On the upswing
MAGNiTTs latest report notes that
the MENA region has seen 60 startup exits
worth US$3 billion in last five years

W
ith a series of 60% of the top 10 disclosed
startup exits exits in the MENA region
dotting the pertain to startups based in
MENA busi- the UAE. In another optimistic
ness ecosystem, MAGNiTT sign for the entire region, 47%
released in June the results of startups that exited their
of its analysis on technology business during the study
startup exits in the region duration, were found to have
over the last five years (2012- been acquired by MENA-
2017). While the heightened based companies. While a look
buzz around it, and the spate at some of the major acquisi-
of exits that followed it, have tions during the period, be
made Amazons acquisition of it [Link] by Amazon or
[Link] a landmark event, JadoPado by Alabbar Enter-
MAGNiTT finds that the year prises or Yemeksepeti and
2015 saw a peak in exit activ- Carriage by Delivery Hero, all
ity in recent times with 16 point towards momentum in
startup exits, and says 2017 e-commerce, logistics, and
has already had a strong start allied sectors, MAGNiTTs
with eight exits in the first data confirms that MENA
six months. According to the e-commerce has seen largest
study, over the last five years, exits (22%) during the period,
the region has seen 60 startup followed by media (18%), and
exits (disclosed, and part of F&B sectors (15%).
MAGNiTTs proprietary data) It is interesting to see con-
totaling up to a value of over solidation predominantly in
US$3 billion. the e-commerce, logistics and
Discovering that only 38% F&B space across the region-
of MENA exits during the all of which are startups that
period are publicly disclosed, are consumer facing that solve
MAGNiTTs study finds that a logistical problem of deliv-
predominantly (for almost ery, notes Bahoshy. Among
35% of the startups), the exit the various venture capitalists
valuation was in the range of at the center of this exit activ-
$10-20 million, and it took an ity, and having benefitted from
average of seven years from it, MAGNiTT counts MENA-
founding the company for the based VC firms such as MENA
60 startups to exit business- a Venture Investments, Jabbar
duration that MAGNiTT finds Internet Group, Middle East
to be in line with interna- Venture Partners, and BECO
tional comparisons. Corpo- Capital to be a few notable
rates at all levels are becoming ones. Given many VCs in analysis of the report makes still seeking Series B, C, D
more interested in startups, the region are still relatively one factor stand out: startup funding to further grow their
and their ability to grow in young and with an average of exits in MENA are primar- enterprises, says Bahoshy,
dynamic ways As startups seven years to exit for suc- ily through acquisitions, and about this scenario. Offering
continue to develop and grow cessful startups, we anticipate IPOs are still nascent in the a solution to this, he believes
further, the opportunities for to see more exits come to space. Many startups havent creating the right environ-
acquisitions will arise, says fruition in the coming years reached a critical size, revenue ment for startups to flourish
MAGNiTTs founder Philip as their portfolio companies generation, or geographic and scale across the region,
Bahoshy. mature, observes Bahoshy. scale to be able to success- and reducing the regulatory
As a nation ahead of its re- Even as the study dispels fully list on the markets. At burden on companies will
infographic magnitt

gional peers when it comes to the oft-cited myth that exits the same time, many probably help more MENA startups
its entrepreneurship culture, are a rarity in MENA, an dont have to, given they are reach the stage of IPO.

18 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk strategy,
industry-specific tactics, and professional challenges
Insights and inspiration from 15 business leaders
impacting the MENA market today

Adeeb Ahamed H.E. Shamsa Saleh Hazel Jackson

Ahmed El Alfi Osman Sultan Elie Khouri
Farid Chedid Dr. Karim El Solh H.H. Sheikh Saeed Obaid Al Maktoum
Shailesh Dash Shamsheer Vayalil Thumbay Moideen
Ahmed Abou Hashima Essa Al Zaabi Dr. Reem Osman

Brought to you by

20 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

Ahmed El Alfi
of this year we will have Ahmed El Alfi,
Morocco off the ground, founder and
Chairman,
and a second location in Sawari Ventures
Founder and Chairman one of the countries we
Sawari Ventures are already present in. We
are also looking at Kuwait
the most important thing is taking care and Jordan. In 2018, we
of your people, which involves showing will start looking to expand
them and having them buy into the path outside of the Arab world.
After a few years of
through the problem, and making sure to witnessing the growth of
be aware of their issues, both individual the MENA startup scene,
and business-related.

B
El Alfi explains that two
important changes, both
ack in 1990, out for the key people in my presently occurring, will
Ahmed El organization because then enable it to evolve into a
Alfi founded they did the same thing and more mature entrepreneurial proved and the qualifications
Hybrid Capital looked out for other people. ecosystem. Firstly, recogni- of the applicants are higher,
Partners, a In crisis, the most important tion by the traditional busi- El Alfi says. I like to think
private invest- thing is taking care of your ness community that startups that Flat6Labs and other pro-
ment partner- people, which involves show- can become legitimate players grams are having a substantial
ship, which funded, grew, ing them and having them in the marketplace in the impact in all the countries
and exited several successful buy into the path through the MENA region, he says. That where we operate. We have
companies. Two decades later, problem, and making sure same perception is happening had applications coming
he decided to further help in to be aware of their issues, among talented personnel, from 70 different countries,
transforming Egyptian and both individual and business- since now you see senior so people relocating from
other MENA economies by related. At that time, I had a and highly-qualified people India, Russia or Italy to start a
funding technology-based team of 10 people, in addition leave big corporate jobs to company at Flat6Labs. This is
companies, and that led to the to our portfolio companies, join startups. Both of those because the UAE is perceived
establishment of Sawari Ven- which we always consider as are leading to better funding as a good place to start up a
tures, a Cairo-based venture a part of the team as well. I for startups. So, I think that company. We have also fund-
capital firm. Over the years, will never forget what my late everything is converging right ed a few companies started by
Sawari Ventures has made 10 father used to say, and that is now. In the future, we are go- young Emiratis and we want
investments with an average that you need to deserve the ing to see more foreign funds to encourage that. We have
ticket size of US$ 300,000. In people whom you lead. investing, as well as more lo- just finished an innovation
addition, El Alfi is the founder Being an entrepreneur, El cal funds being formed, higher and ideation training program
of The GrEEK Campus, a Alfi knew how to handle dys- valuations and more high for the Emirati youth. I was
technology and innovation functionalities in the market, profile successful companies, pleasantly surprised by the
park located on the former and post the Arab Spring, he and hopefully more startups. size of the turnout and the
American University of Cairo became even more inspired to Flat6Labs, on average, quality of the young people
(AUC) campus- at present, 115 support young MENA entre- receives 300 to 500 applica- who came. We should be
startups have made it their preneurs and proved instru- tions per cycle per location. doing that on a regular basis
permanent base. The early mental in setting up Sawari The applications are evalu- throughout the various emir-
days of these two initiatives Ventures next initiative: ated on the basis of the teams ates, not just in Abu Dhabi.
were marked with the Arab Flat6Labs Startup Accelera- abilities, the novelty of their As for the future, El Alfi
Spring, a series of protests tor. Functioning as a hybrid ideas, potential for scaling, is keeping an eye on social
and demonstrations across model combining a startup and the Flat6Labs teams fit entrepreneurs. I continue to
the region, and especially in accelerator and a VC fund, with the startup management. appreciate entrepreneurs who
Egypt, in 2011 and 2013. That thus providing both seed and The accelerator is known for solve social problems because
period, El Alfi says, was filled early/growth stage invest- its founder-friendly terms, they improve the conditions
with some of the most dif- ments, Flat6Labs now has of- taking 10-15% equity in com- in the market for every-
ficult situations he has had to fices in Cairo, Jeddah, Beirut, panies against seed funding body, he concludes. Social
navigate in his entire career. Tunisia and Abu Dhabi. We offered, board representation, problems are so deep in our
The most challenging times are currently in five countries and some basic minority region that it should be easy
started in January 2011, and and we are looking to expand, protection rights. To date, to attack one small section of
included the subsequent maybe to add an additional Flat6Labs has invested in it, but they should make sure
IMAGE COURTESY: swari ventures

unrest that lasted for a few location in some of the coun- 113 companies across Cairo, that they get funding for the
years, El Alfi explains. The tries we are in and to expand Jeddah and Abu Dhabi. The problem they are solving and
most important thing dur- into other countries, El Alfi quality of the applications they should be very efficient
ing that period was to look says. I hope that by the end that we are getting has im- in their use of capital.

july 2017 Entrepreneur 21

Elie Khouri, CEO,
OMG MENA

22 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

somewhat of a rough patch at Ps have been added to mod-

the moment, but thats what ernize the thinking, Khouri
makes Khouris stewardship says. The most significant
of his company in these chal- of them is People, because
lenging times particularly brands have now embraced
noteworthy- heres a media a more customer-centric
exec whos well-versed with view of their marketing, even
the changes happening in his working with the notion of
sector, and he is making sure Customer Lifetime Value
that his firm a pioneering (CLV). With digital media in
marketing services group in general and social media in

elie
its own right- is in tune with particular, marketing is less
the trends that are manifest- and less campaign-based,
ing themselves in the MENA and more and more always
locale. Thatd explain Khou- on. With addressable media,
ris insistence on having a we are also getting closer to
sense of purpose when lead- individuals, so we can make
ing an enterprise- it looks to better predictions of the

khouri
be something thats govern- net profit attributed to the
ing his own leadership strat- entire future relationship
egy. This single-mindedness with a customer. This CLV
is critical, because it acts concept projects a company
as your North Star in the or marketer beyond simple
middle of a storm, Khouri quarterly profits, and pushes
explains. When everything them to take a much more
else around you causes tur- long-term view of their
bulence and requires agility, customer relationship. This
CEO, Omnicom Media Group MENA this consistency ensures leads to much more mean-
you dont lose your sense of ingful investment decisions.
a business leader who thinks direction. Strategies like these are
and acts with agility and It is this kind of foresight becoming increasingly
and vision that has led popular in a landscape where
embraces innovation, rather Khouri to be recognized as enterprises big and small are
than ignoring or resisting one of the MENA regions looking to get more bang for
foremost marketing mavens, their buck, and Khouri be-
it, will run a business like an sitting at the helm of a com- lieves this has had an impact
entrepreneur. This also requires pany that has four market on how marketing is being
intuition and fearlessness. None leading agencies under its perceived as well. There
belt (OMD, PHD, Resolution, are signs that the market-
of this is dictated or limited by Hearts and Science), more ing role is becoming even
the size of the company, just the than 20 offices across the more connected to business
region, and over 600 people performance, and revenue
management style. as its employees. Given the in particular, he says. The

T
number of years he has been more a business turns digital,
a part of this industry in the more the contribution of
Innovation, like creativity
or disruption, features
he first thing the region, Khouri has had a marketing can be measured.
is to have a first-hand view of the evolu- This means the profile and
in every conversation,
sense of pur- tion of the marketing func- background of marketers
Khouri explains. It may
mean slightly different pose and stay tion, which has today moved will change further still, and
things depending on the true to it, beyond the 4Ps as laid out focus even more on science.
industry youre in, but says Khouri by Philip Kotler, a.k.a. the Millennials are a key driver
ultimately, the notion when asked Father of Modern Marketing. of this evolution, and their
remains the same, and we about how he goes about his Any marketing student will growing presence in market-
cant get enough of it.
role as the CEO of Omnicom remember Philip Kotlers ing roles will further push
Media Group MENA. Its no 4Ps (Product, Place, Price, this digital thinking forward.
secret that the advertising and Promotion)- they still What is interesting also is
industry is going through apply, of course, and other that weve evolved from the
 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

The more a business turns digital,

Ask the exec the more the contribution of marketing
Elie Khouri, CEO, Omnicom Media Group MENA can be measured. This means the profile
Q From your personal team around it. Entrepre-
and background of marketers will
perspective, what are some neurs need to lean on the change further still, and focus even
of the main considerations right talent, be it a team or more on science. Millennials are a key
that entrepreneurs should a network of contacts, to driver of this evolution, and their
keep in mind when starting be able to fully execute the
up a business in the MENA vision, no matter what the growing presence in marketing roles
region? conditions are. Finding the will further push this digital thinking
optimal mix between skills, forward.
A In my 28 years here, I experience, chemistry, val-
have never stopped being ues and passion isnt easy,
fascinated by the energy of of course, but its a critical functional focus of a product enhance the way we operate,
this place. Nothings impos- factor of success. or service (it washes whiter, the products we create, or
sible, nothings too big. Talent is an essential it goes faster, etc.) to a much the processes we use. Our
The regions business and resource; funds are obvi- more emotional relation- clients or consumers expect
consumer confidence often ously another. To raise funds ship between consumers it, and failure to deliver will
top the global charts. Our smartly, entrepreneurs need and brands. The product result in loss of market share,
can-do attitude is the envy to create demonstrable and experience has widened sig- both in terms of volume and
of other countries because tangible value to investors nificantly, and considerations value- not exactly an appeal-
it liberates the energy and or shareholders. They also like social behavior, attitude ing prospect, so no, compla-
achieves results. This is a need to be clear about their and retail experience are sig- cency is not the way forward.
potent formula for business need to grow their business, nificant contributors to pref- Entrepreneurialism is indeed
and one that others em- as this provides investors erence and loyalty. To stand rooted in this spirit of doing
brace more and more. with the confidence that the out, a brand must consider something different or better,
Whats more, there is also business is competently and these changing consumer because thats where the
a strong resilience when judiciously managed. expectations. These trends opportunity lies and yes, we
conditions turn sour. We One last thing, and I play in the hands of smaller have embraced that approach
bounce back faster and speak from experience, organizations, that are often internally. Weve created
faster each time. This is entrepreneurs need to seek younger, more digital and smaller units within our
important for entrepreneurs, out a mentor, someone who more agile than large busi- agencies that run like small
because its never plain sail- brings composure, impartial nesses. Data is size-agnostic enterprises. Were training
ing and the ability, actually and independent advice, as and can be very democratic our team leaders to think and
the agility, to pivot is an well as contacts to the table. in that its everywhere; you work like entrepreneurs. The
essential aspect of effective This type of trustworthy just need to know where to result is the agility of a small
leaders. Contingency plans, and long-term support is look and how to use it. enterprise, and the resources
alternative routes, backup invaluable and yet often Given this context, its of a large organization. This
solutions are all essential disregarded. Mentors also easy to see that innovation is literally the best of both
elements that entrepreneurs empower and strengthen is the need of the hour for worlds. Yes, a business leader
must consider when they their entrepreneurs this industry, and thats why who thinks and acts with
launch their business as personal growth focusing Khouri has been encouraging agility and embraces innova-
nothing is set in stone. on their sense of purpose, an entrepreneurial kind of tion, rather than ignoring or
Talent is an essential decision-making, emotional mentality within his orga- resisting it, will run a busi-
without a measure of failure. intelligence, creativity and nization- its an essential ness like an entrepreneur.
This agility resides in the motivation, among other component for the business This also requires intuition
leadership, but also the things. sustainability, he says. In- and fearlessness. None of this
novation, like creativity or is dictated or limited by the
disruption, features in every size of the company, just the
conversation, Khouri ex- management style.
plains. It may mean slightly So, what is Khouris leader-
different things depending ship mantra at OMG MENA?
on the industry youre in, Our mantra is simple, and
www. [Link]

but ultimately, the notion re- can be summarized in four

mains the same, and we cant Ps, he replies. It starts
get enough of it. We must with our Purpose, our mis-
constantly and consistently sion, if you will. It is to build
endeavor to improve and our clients business by

24 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific
tactics, and professional

Elie Khouri,
CEO, OMG MENA

engaging, entertaining and ideas that fuel success for and provide honest feedback, We aim to always be curious
empowering consumers to our brands and people. Were learn from both mistakes and and insightful. Reinventing,
make smarter choices. The also conscious about main- successes in equal measure reacting and responding is
second is People, without taining high levels of humil- and never underestimate our the only way to truly add
whom none of this would ity, our third value. We seek competitors. Lastly, agility. value.
be possible. We attract,
nurture and retain amazing
people, providing them with
a stimulating environment Take the lead ELIE KHOURIs tips for entrepreneurs fronting their enterprises
that fosters creativity and
entrepreneurship. They 1. Surround yourself with and feelings, and improving because fast is better than
deliver the third P: Product. people that are smarter than their welfare at work. perfect. If time to market was
We apply rigor in everything you Seek people who offer a once measured in years, it is
we do. We invest in tech, different perspective, as it helps 3. Your people must get now set in terms of weeks.
data, content and everything you paint a sharper picture, more than what they give Be decisive, think and act
in between to make us more shed more light on situations More than just a salary, confidently and effectively,
effective. When the three Ps and reduce risk. Dont be afraid peoples compensation for pivoting when changing
are done right, we get the of being challenged and pushed, their work today includes conditions require a new
last one, Profit, an obliga- thats how you achieve greater self-actualization and purpose. direction.
tion we have towards all our things. Beyond the transaction of salary
stakeholders. To achieve this, for time and effort, you want 5. Stay ahead of the game
we stay true to our values, 2. Be generous Todays emotionally engaged employees by investing in the future
which guide our thinking, leaders must be caring, who, to truly feel connected, When everything around
behavior and recruitment. putting the interests of their must get back from work at you is changing at breakneck
The first is caring, as we take staff first. People at the top least as much as they put in. speed, you need to be able to
great pride in responsibly of an organization need to make smart bets on the future.
developing compassionate be genuine, generous and 4. Remain agile and adapt Some of these will require a
and nurturing relationships selfless to earn and justify their to change quickly The fast- leap of faith. Being innovative,
with our employees, clients employees trust. This can be changing environment in which a pioneer, necessitates a fair
and partners. The second is done in several ways, including we live calls for agile, rather amount of gut but the rewards
pioneering, to stay ahead of giving people access and time, than just adaptable, leaders. of being ahead of the curve are
the curve. Were innovative paying attention to their needs Speed is a key consideration huge.
and constantly searching for

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Yet, the decade-long en-

trepreneurial journey was
not smooth sailing. Chedid
recalls the biggest business
crisis the group experienced.
It was back in 2006, just
two years after we had
established the holding
company in Lebanon, he
says. The war in Lebanon
started, with the Israeli army
bombarding the south of the
country as well as its capital
Beirut. The airport was
closed. The team abroad was
cut from the headquarters.
We immediately decided to
move the headquarters to
another region and to have
the rest of the team move
Farid Chedid,
to Cyprus, where we had an
Chairman and CEO,
Chedid Capital operation unit, and to Dubai.
Holding Our operations started to
recover, the team adapted
themselves to the new

Farid Chedid
one of the top 20 reinsur- reality, and soon enough the
ance brokerage groups in business was back to usual.
the world, and the only Arab From that day, I promised to
company to be registered as myself and to my team that
Chairman and CEO, Chedid Capital Holding
a Lloyds broker, he says. nothing in the world would
The second achievement ever stop our long journey.
we have established the Chedid Academy is that we have created This has made me go to new
which is aimed at training our people to be and reinforced our direct places, new markets and
experts in the field. However, we also train brokerage business, Chedid new continents to secure
the people holding key positions at our Insurance Brokers, by es- my business and the income
clients companies which is our contribution tablishing one of the biggest
networks in the Middle East,
of the employees working
for me. The first of the two
to the insurance industry and to the Africa and some parts of pieces of advice I would give
markets we proudly operate in. Europe, through startups or to myself and to others who

A
acquisitions. All of this has wish to hear it is to always
year after cel- demonstrated on numerous been done by implementing be ready for the worst and to
ebrating the first occasions by forming and the vision of our holding plan ahead of time to adapt
decade in business successfully developing company which rests upon to any potential crisis. We
for Chedid Capital separate strategic business the pillars of transparency, are a group that sells risk
Holding, a Dubai- subsidiaries, including corporate governance, and coverage to individuals,
headquartered solutions Chedid & Associates, an customer service. Last but companies, governments, but
provider in the insurance authorized insurance broker, not least, because we care mastering risk management
and reinsurance industry, as well as Chedid Corporate to have the best team, and is key for any CEO, especially
and nearly two decades Solutions, a consultancy ser- we always hunt for the best during challenging times.
since founding Chedid Re, vice provider that caters for people, we have established The second advice is to sur-
an insurance provider and growth-focused companies. the Chedid Academy, which round yourself with the best
a registered Lloyds broker, Furthermore, Chedid is the is aimed at training our peo- people, meaning the best in
Farid Chedid, the Groups Chairman and CEO of Chedid ple to be experts in the field. terms of knowledge but also
Chairman and CEO, be- Insurance Brokers network, However, we also train the in terms of integrity because,
IMAGE COURTESY: chedid capital holding

lieves that his enterprises which has offices in Lebanon, people holding key positions in crisis times, the best will
strength is in its ability to Saudi Arabia, and other at our clients companies fight to save the boat.
cater to the changing needs countries in the region. We which is our contribution to Today, the groups three
of clients, businesses and managed to institutionalize the insurance industry and strategic business units,
markets in which they oper- our first company, Chedid to the markets we proudly Chedid says, are all going
ate. This agility has been Re, and lead it to become operate in. from strength to strength.

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Faisal Al Bannai,
CEO, DarkMatte
we have created and reinforced our direct that we want to encourage because good people tend to
brokerage business, Chedid Insurance Brokers, and invite every entrepre- find jobs in big, reputable
by establishing one of the biggest networks neur or company to sell me companies or groups. When
the best innovative technol- I started, I was alone, but I
in the Middle East, Africa and some parts of
ogy solution for my business. worked hard, fought hard to
Europe, through startups or acquisitions. Since we are present in the become number one, which
All of this has been done by implementing the whole MENA region, they led to our competitors, sup-
vision of our holding company which rests will certainly grow with us. pliers, and partners starting
upon the pillars of transparency, corporate However, Chedid again to look at us in a different
governance, and customer service. highlights the importance way. So, I started interview-
of hiring and retaining the ing the good people, of which
The largest is reinsurance the African market since best people, building a some decided to join me
broking, with business ema- any group that is looking to strong company culture, and and are still with us. Today,
nating from over 45 coun- expand into Africa has to imposing strict corporate they are the foundation of
tries in three continents. pass by North Africa. Today, governance rules, including the group and I can say that
We are a market leader in Morocco is the main gate. adherence to the highest they were like me, hungry for
our markets. Since 2010, So, given all of this, you can transparency standards, to success and eager to build
our second strategic unit easily understand why today guarantee the serenity of a career. Others started
has been insurance broking, we are present in the Gulf, the group and to protect the with me but maybe couldnt
Chedid Insurance Brokers, Levant and North Africa. interests of their investors. handle the pressure and
which offers its services in For all those wishing to fol- The strategy and processes decided to continue their
five countries, and is expect- low in his footsteps, Chedid that we follow are very pre- career elsewhere. So, with
ed to increase this number advises to first get familiar cise and holistic. I make sure time, hiring good people has
to 10 countries before the with local customs and they are ambitious, he says. become easier, and I can say
end of the year. In the same culture. Any entrepreneur At our beginning, we were that we are today considered
line of business, we acquired willing to start up a business facing difficulties with find- the employer of choice in
City Brokers, via a joint and be successful in the ing and hiring good people the insurance industry.
venture with IBL, an insur- MENA region, or anywhere
ance broker in the Mauritius outside of their country,
Islands. With City Brokers should first understand the
we are developing our pres-
ence in East Africa. The
culture of that new country,
the people of that country,
Ask the exec
third is insurance risk carry- their different traditions, Dr. Shamsheer Vayalil, Managing Director, VPS Healthcare
ing, that is today operating and to try to adapt their
in one country. Given the strategic business tools to Q Whats your strategy for in almost every market, and
number of years he has been the new countries realities, making your brand, VPS healthcare is not an exception.
a part of the MENA business he says. You cannot offend Healthcare, stand out when Most of the competition has
arena, Chedid is confident a country and do business compared to its competitors been with the public sector
that the GCC/MENA region in it. You need to adapt in the market? and other private providers
is rich in business oppor- and hire people from that who have been in the market
tunities. The Gulf region country because, at the end A My concept is simple yet for decades. Competition, to
is rich, stable, and strong. of the day, you are definitely effective. At the core are three us, is a challenge to make us
The potential is amazing, partnering with the coun- main features. First, to provide stronger.
he says. Gulf countries are trys values. In the MENA cost-effective yet specialized
implementing high levels of region, which is, as I already and superior quality healthcare
corporate governance, more said, a vast, rich and amaz- services, complemented by
and more transparency and ing region, creating oppor- personalized care and individual
international management tunities is always possible. attention to each patient with
standards. Any company or Technology is advancing and an unparalleled passion and
a group that wants to grow can always be a great source commitment to serve the
has to be present in the of income for new entrepre- medical needs of the growing
Gulf region. Furthermore, neurs. Therefore, one of the population. Second, establish-
the Levant region is also es- fields we always encourage ing a comprehensive healthcare
sential to our business since new entrepreneurs to begin network to enable a sustainable
Lebanon and Jordan have with in this region is tech- referral system. And, third, to
always played a key role in nology, and to specifically have a strong CSR program to
IMAGE COURTESY: vps healthcare

the insurance services busi- think of how to adapt this give our thanks back to those Dr. Shamsheer
ness. Also, the North African technology to the traditional in the community who require Vayalil, Managing
market is today, besides its or actual business. I can give some additional help in their Director,
VPS Healthcare
national needs, a hub to you an example, which is lives. There are competitors

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President of the UAE Gender diversity of ideas, different

Balance Council and wife of decision-making, and so on.
H.H. Sheikh Mansour bin Im proud to say that the

H.E. Shamsa Saleh

Zayed Al Nahyan, Deputy UAE was the second globally,
Prime Minister and Minister after Norway, and the first
of Presidential Affairs of the regionally to adopt a decree
CEO, Dubai Women Establishment UAE, DWE aims to encourage on womens participation on
and facilitate the participa- boards. Our goal is to achieve
Secretary General, UAE Gender Balance Council
tion of Emirati women in 20% of womens participa-
the workforce and society. tion on boards by 2020. For
Today, the region is stronger than One of the organizations that, we have a special pro-
at any time before when it comes to many initiatives, the Arab gram to educate and qualify
womens empowerment and engagement Women Leadership Forum women to be successful board
in the economy, but also in fulfilling aims to particularly ensure
that Emirati women pursue
members.
DWEs mandate includes ex-
the gender gap in all aspects of life, not an aggressive growth agenda tensive research into identify-
only in the economy. that positively impacts the ing and quantifying the status

N
UAE economy as well as the of women in the workforce of
ow that the UAE overall GCC region. Yet, H.E. Dubai, as well as initiatives
is synonymous Saleh points out that the towards womens further
with womens em- success of DWE and the Arab development opportunities.
powerment in the Women Leadership Forum is Last year, coinciding with
Gulf region and just a part of the countrys its 10th anniversary, DWE
beyond, it is of no surprise lasting results. Today, the adopted a new strategic plan
that the worlds leading policy region is stronger than at any for 2017-2021 which is built
makers choose to take part in time before when it comes to on four key pillars, namely
the Arab Women Leadership womens empowerment and Catalyst for Change, Research
Forum and the Global Wom- engagement in the economy, and Knowledge Hub, Repre-
ens Forum Dubai, the flagship but also in fulfilling the gen- sentation and Strategic Part-
conferences organized by der gap in all aspects of life, nerships, and Development
Dubai Women Establishment not only in the economy, she and Capacity Building. When
(DWE) to discuss how to H.E. Shamsa Saleh, says. In the UAE specifically, we established DWE, we first
CEO, Dubai Women
foster womens leadership Establishment and
about 46% of all public and started with researching,
around the globe. However, Secretary General, UAE private positions, and 66% of testing and evaluating what
DWE CEO H.E. Shamsa Saleh Gender Balance Council all government positions, are were the needs and require-
recalls that, only a decade ago, occupied by women. This is a ments of women in this
she had to dispel many nega- not even educated, or that good indication that women region, H.E. Saleh says. One
tive stereotypes about Arab we werent allowed to drive are participating in the of the most important things
women in countries around here, and so on. I realized economy. The second thing is was helping them to achieve a
the world. The Arab Women that we had to bring them to about todays results when it work-life balance. We realized
Leadership Forum and the Dubai and show them how comes to womens participa- that we had to start with this
Global Womens Forum Dubai women had progressed here. tion in higher positions, such since many women had been
are our projects with interna- Furthermore, over the years, as at a ministerial level, since struggling to manage their
tional impact, she says. We the forum has opened many we now have 27.5% women private and professional lives,
used to have our local forums, business opportunities for serving as ministers in the and after that, we started
but with these conferences, women. We are now exploring UAE Cabinet and 20% in the our other empowerment
we have brought about a new how to bring more of these Federal Cabinet, which is one and leadership development
perspective, and we have kinds of events from different of the highest scores globally. programs. The reason is that
succeeded in exchanging our parts of the world. In the next Id like to add that womens women can advance in their
best practices with other few months, we will announce participation is a must, not careers only when they can
parts of the world. The most these new initiatives. only for the sake of women first take care of their homes
important thing is that we DWE was formed in 2006 themselves, but for the sake and families. To help them
have managed to change the under Law No. (24) by His of society and the economy. with this, we have introduced
IMAGE COURTESY: dubai women establishment

perception of Arab women Highness Sheikh Mohammed Every economy needs women many projects, such as the
internationally. I can recall Bin Rashid Al Maktoum, to participate. It has been National Child Care Centres
that, when in 2007, I attended the UAE Vice President and proven that when women Project. Today, we have 14
a forum in France, everybody Prime Minister, and Ruler participate on a board, the nurseries across Dubai Gov-
I met there thought that we of Dubai. Headed by H.H. efficiency, effectiveness, and ernment entities serving more
were still much behind the Sheikha Manal Bint Moham- profitability of that board is than 1,000 women. For me,
world, and that we were med Bin Rashid Al Maktoum, much higher because of the it has never been about the

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H.E. Shamsa Saleh Faisal Al Bannai,
speaking at the CEO, DarkMatte
Global Women Forum perceptions about womens This is the main vibe in our
Dubai 2016 performance in leadership society.
positions, she says. Women Despite her many roles, this
leaders need to do this them- mother of three has set a new
selves by showing evidence goal to herself- pursuing a
of their success. We are a PhD degree on women leader-
society that leads by example, ship in the GCC. I set objec-
so when we see our female tives for myself at a family
ministers demonstrating level, work level, and even at
outstanding performance, we my leisure level, she says,
follow in their footsteps. So, as she shares her personal
I think that every leadership success strategy. I always
should be results-oriented need to set certain objectives.
and evidence-based. This Otherwise, I will not work in
should transpire down to a systematic way. However,
middle and lower manage- as soon as you have set clear
ment. This is really impor- objectives for yourself, you
tant. They need to know that have to measure them. I will
they are a part of the team, of never introduce a new project
one family, working towards without a plan on how we
the same goal. As soon as I will measure our impact. This
type of project that we are our next major effort will be achieve something, my staff applies to all areas of my life,
doing, but about the impact for all of this to be applied will adopt that mentality. even for my kids.
it makes on women and how at the regional level. The
we help them contribute to UAE will position itself as a
the economy more easily. reference for good practices
This project is now being
implemented at the national
when it comes to empowering
women. I can say that in the
Ask the exec Osman Sultan, CEO, du
and GCC level. This is a mo- UAE we have reached a stage
ment of pride for us. that we can say that we are Q Over the course of your technology, one cannot have a
Another achievement, H.E. now fine, but our neighboring career, what factors do you pre-disposed mindset, if they
Saleh says, is the UAEs countries will have an impact think contribute to making are to lead a team the size of
adoption of Decree No. 14 of on us, so we need to share a CEO a great leader? du successfully. In addition, a
2017 on maternity and child- our best practices with them leader has to be just that a
care leave for female employ- as well. A In this day and age, three team player and a positive
ees of the Dubai Government. H.E. Saleh began her career things come to mind fore- influence who dispenses con-
Starting from March 1, 2017, with DWE in 2008, rising sight, flexibility and adaptabil- structive advice and guides his
the Decree entitles any full- to the position of Director ity. In the relatively short span team. A great business leader
time or part-time female of Strategic Development of time that I have been in this has to have a familial character
employee in a permanent and Corporate Development, position, the winds of change amongst his staff.
position to 90 days of ma- followed by Chief Executive have blown in several
ternity leave from the date Officer in 2011. She is also directions. The internet Osman Sultan,
CEO, du
of delivery. Furthermore, the the Secretary General of the culture has undergone
new legislation has provided UAE Gender Balance Council. a transformation, and
working mothers two hours Other DWEs projects devel- we have had to adapt
off a day for breastfeeding, oped under her leadership by offering a host of
as well as sick leave for cases are the Global Womens Fo- new products and
of miscarriage or abortion, rum Dubai, Women in Boards services to ensure that
IMAGEs COURTESY: dubai women establishment | step conference / du

while mothers of children Initiative, Women Leadership we stay ahead of the

with special needs are now Exchange Program, and Emir- game. As an example,
entitled to special care paid ates Leaders Gathering. Prior we are venturing into
leave. Regarding fulfilling to joining DWE, she served cloud-based and
gender gap, H.E. Saleh be- as an executive at the Dubai machine-to- machine
lieves that more can still be International Financial Ex- services in order to
done in certain parts of the change and TECOM. Having keep abreast of the
UAEs economy. We need to spent one and a half decades Internet of Things.
establish new incentives in in leadership positions, With all these develop-
certain sectors to encourage her approach is to be goal- ments, and seemingly
them to include more wom- oriented. I think that we overnight changes in
en, she says. Also, I think need to work on changing the

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to GDP in the G-20 in 2010 raised and closed in 2015 the

and is estimated at more largest GCC-focused private
than $4 trillion in 2016, equity fund, the $750 mil-
is growing at 10% a year; lion GC Equity Partners

Dr. Karim El Solh

significantly faster than the III, he notes. Over the last
global economy as a whole. decade, Gulf Capital has
Regional e-commerce is been one of the most active
still small when compared private equity firms in the
Co-founder and CEO, Gulf Capital to world averages, but this Middle East. As for its real
is set to change. At the estate division, Gulf Related,
moment, the share of e- a partnership with the US-
With over 10 investment vehicles commerce in the GDP of the based Related Companies,
launched to date across asset Middle East and North Africa has been able to raise $1 bil-
classes, Gulf Capital has become region is at the bottom of lion over the last two years
today one of the largest and the world list, with the eGDP
representing 0.71%, against
to fund the launch of the Al
Maryah Central Shopping
most diversified alternative asset a global average of 3.11%, Mall in Abu Dhabi, which
managers in the Middle East. according to a research looks all set to become the

H
conducted by e-commerce leading shopping, dining and
Foundation. So, however entertainment destination
aving And some of these results are you look at it, there is only in the UAE capital. One of
deployed already showing: Gulf Capi- upside from here, and the our smaller yet faster grow-
over half tals current investments in regional e-commerce growth ing divisions is our private
a billion this space include Destina- potential is huge. debt division, which success-
dirhams in tions of the World, which Dr. El Solh says that Gulf fully closed its second pri-
technol- Dr. El Solh notes has become Capital is currently managing vate debt fund in December,
ogy and one of the largest online over AED13 billion in assets which was oversubscribed
e-commerce investments accommodation wholesal- across various alternative and closed at $250.5 mil-
across the GCC, Gulf Capital ers in the world, with its asset classes, with its largest lion, Dr. El Solh adds. With
is one enterprise that is footprint today extending all two divisions being private over 10 investment vehicles
making no secret of its con- the way from North America equity and real estate. On launched to date across as-
certed focus on the regions to the Asia Pacific region. the private equity side, we set classes, Gulf Capital has
digital economy- according Besides Destinations of the
to co-founder and CEO Dr. World, Gulf Capital has also
Karim El Solh, this is the invested in [Link], a
sector where we can expect sport-based products and
to see a number of success supplements marketplace, Take the lead
stories very soon, and well, and Emirates Auction, which dr. karim el solhs tips for entrepreneurs fronting
he and his firm want to be a has been deemed one of the their enterprises
part of these tales when they largest online auction site
are told. The technology in the GCC region. If these 1. Know the industry and who complement your
scene is rapidly evolving in investments are any indica- youre starting up in Pick skillsets.
the GCC, and we are see- tion, then its clear that the right sector in the right
ing the rise of a number of Gulf Capital is betting big country- these are probably 4. Focus on the big
regional players that are on the regions e-commerce the most important decisions picture Launching a busi-
becoming market leaders, sector, which, according to you can make. ness is a marathon and not
both on the regional and Dr. El Solh, is poised for a sprint you will encounter
global fronts, Dr. El Solh major growth. The digital 2. Figure out your product many obstacles but should
says. Gulf Capital is actively economy is having a trans- Launch an innovative offer- never lose sight of the end
backing these market lead- formational impact on our ing/product that is needed goal.
ers, and investing in them, lives and economies, and and that can sell itself. If it is
helping them graduate to e-commerce is at the heart too hard to sell and no one 5. Give back to the eco-
the next level We forecast of it, he says. It is perhaps cares to try it, it is simply not system And finally, when
a substantial increase in the top mega trend that will meant to be. you make it, pay it forward
technology investments in have a profound impact on and mentor other aspiring
the GCC, and significant every business in the GCC in 3. Build your team Pick entrepreneurs. Entrepreneurs
returns to be generated in the coming years. According your right partners that you in our region need all the help
the near future for the early to Boston Consulting Group, enjoy doing business with and support they can get.
backers of these technology the digital economy, which
companies. contributed US$2.3 trillion

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Faisal Al Bannai,
CEO, DarkMatte
In our investment strategy, we are very
focused on picking the right sectors to Ask the exec
invest in, as we believe the choice of the Dr. Karim El Solh, Co-founder and CEO, Gulf Capital
sector has a huge outcome on the ulti-
mate success of an investment. We also Q According to you, what have a bright future. Our strat-
ensure that we have the right manage- are some of the opportuni- egy at Gulf Capital is to follow
ties that you see available the consumer in the Gulf. We
ment team in place to execute the growth in the market today for en- have one of the youngest and
strategy of each portfolio company. trepreneurs in the Middle fastest growing populations
East? Is now a good time in the world with a very high
become today one of the have the courage to step to start a business in the GDP per capita. As such, we
largest and most diver- in and lead so that the MENA region? are focused on investing in
sified alternative asset company is put back on food and beverages, FMCG,
managers in the Middle the right growth path. A While certain traditional in- healthcare, education, e-
East. So, what has been Once we find the right dustries such as construction commerce and logistics. These
Gulf Capitals secret CEO, we empower him and energy are going through are all promising industries,
sauce? In our invest- or her, and ensure they a slow period, there are certain and I would encourage entre-
ment strategy, we are have all the required sectors in the new economy preneurs to start businesses in
very focused on picking funding and support, so that are growing very fast and these sectors.
the right sectors to that they can execute on
invest in, as we believe their growth mission.
the choice of the sector Its easy to see here that
has a huge outcome on this methodology ties
the ultimate success of in with Gulf Capitals
an investment, Dr. El motto, Partners in
Solh replies. We also Growth, which is es-
ensure that we have the sentially the mantra
right management team that governs all of the
in place to execute the companys different
growth strategy of each relationships and in-
portfolio company. Last teractions. We partner
but not least, we ensure with our management
that our portfolio teams to grow our port-
companies have access folio companies, partner
to enough financing and with our fund investors
liquidity, so they can and grow our assets
execute their growth under management, and
strategies. partner with our share-
Of course, following holders to grow our
this model means that original capital, Dr. El
Dr. El Solh and his team Solh says. We are very
at Gulf Capital have to aligned at Gulf Capital,
be sure that their port- and we are very focused
folio companies have on delivering growth to
the right people leading all of our stakeholders.
them. We look for
CEOs in our portfolio
companies who have We partner with
deep experience, hunger our management
to grow the business teams to grow our
and tenacity to survive portfolio companies,
obstacles- and there partner with our
will be many of them, fund investors and
Dr. El Solh notes. But grow our assets
we also look for CEOs under management,
IMAGE COURTESY: gulf capital

who have the wisdom to and partner with

realize when the com- our shareholders Dr. Karim El Solh,
pany is not going in the to grow our original co-founder and CEO,
Gulf Capital
right direction, and who capital.

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Shailesh Dash,
founder and CEO,
Al Masah Capital Ask the exec
Shailesh Dash

Q Given the number of

years you have been a
part of the MENA busi-
ness arena, what are your
thoughts on the region
as a place to do business
today? What, according
to you, are some of the
main considerations that
entrepreneurs should
keep when starting up
a business in the MENA
region?

A I think it is a very exciting

time to do business in the
region. We are very optimis-
tic. The world is changing
every day, and that again
is a very positive outlook. I
also think that there is an
opportunity with people like
us, with the skillset that we

Shailesh Dash
Our business model is have, to make a difference
based on the investors to the region. Before start-
needs, Dash explains. It is ing up a business, it is very
one of the primary reasons important to know the laws
Founder and CEO, Al Masah Capital why we are where we are, of the land and to have the
and why we are successful right partner. Also, its equal-
today. ly important to have done
People are a huge asset, and one As someone who sits at a proper feasibility study
of my main functions is to hire the the helm of an enterprise about the business you want
right kind of people, form a business that is concerned with help- to do so as to ascertain the
ing other companies raise demand for the same in the
strategy, put in the place the right capital and scale up, Dash local market, identify the
corporate governance structures, is quite clear on the most gaps, do the right strategy,
and then let the team do their work important element for build- have the correct implemen-
ing a successful business, tation plan and to have the
of growing the business. and its safe to say that he right funding available for

A
has used the same principle your business.
l Masah Capi- managed to attract more at Al Masah Capital as well.
tal founder and than US$1 billion in funds We are in the services
CEO Shailesh since its inception in 2010. industry, he says. In this their respective businesses
Dash had more With operations in Dubai, business, the most crucial should be very clear about
than 15 years Abu Dhabi and Singapore, part is your team. People are the kind of teams they have
of experience Al Masah Capital has a huge asset, and one of my onboard their enterprises.
working in industries like structured its private equity main functions is to hire the The critical thing is to sur-
corporate finance, manu- portfolios into four main sec- right kind of people, form round yourself with exciting
facturing companies and tors education, healthcare, a business strategy, put in people who have new ideas-
private equity before he set logistics, and F&B- all of the place the right corporate people who are ambitious,
IMAGE COURTESY: al masah capital

up his own alternative asset which have been chosen on governance structures, and people who are hungry to
management and advisory account of them being rather then let the team do their achieve something in life.
firm- this could be one of the strong sectors, driven by work of growing the busi- And you must give them a
reasons that explain how this consumer demand for such ness. As per Dash, CEOs reason and strategy, which
relatively young enterprise services. who are keen on boosting are important, along with the

32 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

freedom to deliver- this is to be a creator rather than of managing them the right The critical thing
critical to any business, and just an employee, he says. way as well- this is essential is to surround
I try to follow that path as You need to find people if you want to create a yourself with
much as possible too. who are trying to achieve long-lasting company. It
exciting people who
At this point, I ask Dash something in life, who are is important to give people
about the factors one should bored of doing routine work the independence to achieve
have new ideas-
look out for when hiring in large organizations, who their goals, as well as have people who are
people for growing entrepre- have an entrepreneurial the right corporate gover- ambitious, people
neurial ventures. You need zeal. But once you have got nance structures in place to who are hungry to
to be able to identify the this kind of people on board, make achieved goals sustain- achieve something
right person who would want Dash notes the importance able. in life.

Adeeb Ahamed
Adeeb Ahamed,
Managing Director,
LuLu Financial Group
and Twenty14 Holdings
Managing Director,
LuLu Financial Group and Twenty14 Holdings

Our commitment to effectively invest

in our resources to improve, motivate,
develop skills and efficiency makes
us hands-on, caring professionals
who go the extra mile to fulfill our
corporate mission and meet high
personal standards.

T
he World Economic this entrepreneurs business
Forums Annual Meet- acumen standing out from
ing in January 2017 at his peers in the region- he
Davos saw the forum launch has been, after all, spear-
a South Asian Regional heading the growth of the
Strategy Group (RSG), an well-established LuLu Group
invitation-only flagship into a host of new sectors.
group tasked with pushing Under his leadership, LuLu
forward publicprivate Financial Group today is a
cooperation on a global scale, global non-banking finan-
and one of the members cial institution with 132
inducted into this body branches around the world
was the UAEs own Adeeb and over 1,500 employees
Ahamed, Managing Director onboard the enterprise. At
of LuLu Financial Group and the same time, Ahamed is of a historic landmark into based on teamwork, com-
Twenty14 Holdings. Com- also the managing director of a luxury boutique hotel), munication, professionalism
prising of senior government Twenty14 Holdings, the hos- Sheraton Oman in Muscat, and business ethics. Our
officials, business leaders, pitality investment arm of as well as hospitality proper- values, vision and mission
academics, and other experts Lulu Group, which, since its ties in the Indian cities of motivate us to reinforce
from the increasingly influ- founding in 2014, has man- Cochin and Bengaluru. And the foundation of trust, on
ential South Asian region, aged to acquire more than in case youre wondering which we thrive. Our com-
the RSG is expected to US$650 million worth of whats fueling the growth of mitment to effectively invest
provide strategic guidance on assets worldwide. Besides its both of these enterprises, in our resources to improve,
the WEFs regional agenda, first five-star hotel in Dubai the answer can be found in a motivate, develop skills and
and is the highest-level managed by the Steigenberg- statement Ahamed has him- efficiency makes us hands-
IMAGE COURTESY: adeeb ahamed

decision-making body for er Hotel Group, the projects self put out: We believe that on, caring professionals who
the WEFs activities in the under its banner include The our continued success can be go the extra mile to fulfill our
region. Ahmeds inclusion Great Scotland Yard Hotel in maintained by encouraging corporate mission and meet
is yet another instance of London (the redevelopment a strong corporate culture high personal standards.

july 2017 Entrepreneur 33

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

ahead
of the curve
Ask the exec
MENA enterprise leaders on building businesses that last
What are the factors that count for successful leadership in todays business world?
We chatted with enterprise head honchos in the MENA region to learn how they managed turning
their driven personalities, high-risk tolerance, and strong work ethic into a competitive
advantage- and yes, the rest of us would be wise to follow suit.

34 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

H.H. Sheikh Saeed Obaid Al Maktoum

Chairman, AJSM Investments Take the lead
H.H. Sheikh Saeed Obaid Al Maktoums tips for
SEEING YOUR ENTERPRISE THROUGH TO GROWTH AND MATURITY THE FIVE STAGES OF THE BUSINESS LIFECYCLE entrepreneurs fronting their enterprises
Q When faced with hurdles
or failures in your profes- 1. Dont be afraid of failure 3. Be ready for the stress
sional life, what helped you People here dont want to Look into ways by which
LEARNING
get past these challenges fail. They are happy where you can manage your stress.
THE ROPES
HISHAM SAMAWI
and move ahead? they are with their jobs, and Being an entrepreneur is
THE PROS
GUIDE
TALKS ENTERPRISE
PROFICIENCY,
PROFITS, AND
not fail [by starting something a 24-hour job- its not like
TO PUBLIC
SPEAKING A In the beginning, I was PROGRESSING AS
A BRAND new]. But the first thing about you go to your job, do your
lucky. I had a very supportive
PRACTICAL TIPS FOR
ENTREPRENEURS WHO WANT
TO OWN THEIR MESSAGING being an entrepreneur is that work, at 5, youre home, and
family. I failed quite a bit in you have to fail to succeed. you forget about it. With
BUILDING a few small businesses at the Dont be afraid of failing once, entrepreneurship, you are
MOMENTUM beginning, and every time twice, three times Failure involved 24 hours.
HH SHEIKH SAEED
OBAID AL MAKTOUM
THE CHAIRMAN OF AJSM
I failed, they were there for is something you can learn
me. They were like, Dont
INVESTMENTS GETS
BEHIND ENTREPRENEURSHIP
IN THE UAE from. 4. Remember to keep
stop, do something else, learning Always surround
make it better. So I always 2. Look before you leap
APRIL 2016 | [Link]/ME | UAE AED20

yourself with people you can

had support. And this is the best feeling, I think, you can have Take risks, yes, but take learn from. Theres no one
as an entrepreneur- having someone behind you, having your calculated risks. Because that knows everything, so
back. If you fall, someone will pick you up The satisfaction having smaller leaps [in terms surround yourself with people
one can get out of this is one of the best feelings you can have, of risk] will have lower costs, you can get knowledge from
and if I can, in some way, help even 1% of the community with should you fail. Always grow yourself.
something like this, Ill be more than happy.

Dr. Reem Osman CEO, Saudi German Hospital Dubai

Take the lead
Q Over the course of your more maturity. However, I has to find people willing to Dr. Reem Osmans tips for
career, what factors do you always ensure to have the join a still unknown com- entrepreneurs fronting
think contribute to making same passion, to put in a pany. The longer the business their enterprises
a CEO/President/etc. a high level of hard work and to takes to become established,
great leader for an organi- ensure clear communication the higher the financial risk 1. Maintain high levels of
zation? to explain my vision to my becomes. Either way, a good communication Always
team so that we all are work- marketing strategy is key to have open communication
A Part of the Saudi Ger- ing on the same goal together achieving the goals. with everyone, from high level
man Hospitals Group, one of and sharing knowledge and To become a good leader, to junior level staff.
the largest private hospital expertise. you need to lead by example
groups in the Middle East, It goes without saying that and apply a dynamic manage- 2. Focus on innovation
Saudi German Hospital both established companies ment style with a touch of in- You need to keep on
Dubai started in March 2012 and startups have unique novation. As a CEO, I always innovating to adapt to market
as the sixth tertiary care hos- challenges. If an established make sure to inspire my team changes when needed.
pital within the Group. It is company is in a known to focus on the companys
now considered as one of the industry, they will have a future goals and I always ap- 3. Work with passion
major tertiary care hospitals very difficult time overcom- preciate them for their hard Make sure to always maintain
in the UAE. To achieve this, ing current perceptions, work, not just to uplift their the passion in your job.
I keep myself motivated by maintaining growth, profit- spirits, but because I believe
loving my job and by main- ability and their brand in the that your business and your 4. Set a good example As
taining a positive attitude market, whereas a startup employees are a reflection of a good leader, always set a
among my team members to good example to the staff and,
strive towards the goal of the Dr. Reem Osman, as a result, their commitment
company. I focus on continu- CEO, SGH Dubai will come naturally.
ous learning whether in my
personal life, or day-to-day 5. Be confident Be
operations at work. Due to confident enough to set a
me learning from mistakes, goal, but stay calm and you
IMAGE COURTESY: sgh dubai

my management style has will keep your team feeling the

changed over the years as I same.
gained more experience and

july 2017 Entrepreneur 35

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

Thumbay Moideen
Founder President, Thumbay Group As the driving force of
Q What was the most I attribute my accomplish-
the company, I constantly
memorable moment in your
business lifecycle? In terms
ments to Gods grace, the
governments support, and
make sure that we
of leaving a legacy, what do to my team. Looking back, I keep up with the latest
you hope to be remembered realize that a mans success
for as a leader of business in should be measured by the trends, as well as plan
the Middle East? number of lives he touches;
the amount of respect he ahead. Acting as the
A Every moment as the
Founder President of
earns, not just in society but
also in the eyes of his chil- facilitator for my team,
Thumbay Group has been
memorable, and is deeply
dren and his subordinates.
Success is not just about
I oversee all day-to-day
cherished. Every milestone
that Thumbay Group has
professional accomplish-
ments. My family, friends
operations, and at the
surpassed, every success that
weve achieved, each award/
and team members should same time, resolving
genuinely say that I was a
recognition that has come good man with a kind heart problems and ushering in
our way have all left deep for others. Id be happy if
imprints in me. One mo- this were to happen. change.
ment that stands out: when
I decided to set up a medical
university in the Emirate of
Akram Moideen Thumbay, Thumbay Moideen
and Akbar Moideen Thumbay
Take the lead
Ajman, which marked the Thumbay Moideens tips for
turning point in my career. entrepreneurs fronting
That decisive moment laid their enterprises
the foundation of Thumbay
1. Be transparent
Group in the UAE.
To be a great business Maintaining ethicality and
leader, one has to live up transparency in operations
to the highest standards of is, according to me, one of
professionalism, in addition the most important steps
to setting the organizations to building a successful
vision. A great leader dreams and sustainable business.
big for his organizations
growth and success. He/She 2. Think big
must also have the wisdom An entrepreneur has to
and experience to take risks,
dream big, and shouldnt
and the patience to remain-
ing optimistic at all times. shy away from taking
The leader must learn to risks. He/she has to plan
trust his/her team members, ahead and be optimistic at
in turn earning their trust all times.
and confidence. To ensure
that my organization runs 3. Stay focused
smoothly, I lead my team Work should be delegated
from the front, and work to sensibly and without
infuse dedication, discipline inhibitions. It is also crucial
IMAGEs COURTESY: thumbay group

and hard work at all levels of

for the entrepreneur to
the organization. My role as
a leader requires me to facili- stay focused, and be
tate, and to empower people. patient.

36 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

To ensure that my
organization runs
smoothly, I lead my
team from the front,
and work to infuse
dedication, discipline and
hard work at all levels
of the organization. My
role as a leader requires
me to facilitate, and to
empower people.
Thumbay Moideen,
Founder President,
Thumbay Group

july 2017 Entrepreneur 37

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

Take the lead

Hazel Jackson CEO, Biz Group
Hazel Jacksons tips for entrepreneurs fronting
their enterprises
As we grew beyond 25
people, I needed to develop 1. Invest in your people new ideas, and expect there
a leadership style, one that Take the time to nurture to be failure along the way.
enables an entrepreneur to them, support them and
micromanage less and chal- develop them. Hire people 4. Hire based on your
lenge other people to think that you can see will develop values CVs will tell you
more. I found Multipliers, into great leaders, and then about skills, and an interview
by Liz Wiseman, to be the help them get there. should tell you if someone
perfect framework to help aligns with your company
entrepreneurs make the shift 2. Create a culture based values. Find people who
from having all the ideas on trust Dont hire people believe what you believe in,
to holding others account- you dont trust. Give people who want to move in the
able for great work. It is a space to do their jobs same direction as you and
conscious battle to lead like and dont second guess your company.
a multiplier and one I still them. With autonomy and
need to work on every day. accountability comes great 5. Keep future focused for
But the results are always work. your employees Always
worth it: unleashing talent look to keep your people
Q From a personal stand- to do the best work of their 3. Give your team the engaged by pushing them out
point, what is the mantra or career in an environment freedom to innovate, of their comfort zones, give
strategy you use for leading that is engaging. I strive to and a safe place to fail them stretch challenges but
your company? Also, how keep growing and developing Encourage your people to offer them the support they
has your management style our people by giving them challenge the way things have need to achieve these tough
changed over the years in stretch challenges whilst always been done, celebrate goals.
which you have been in this equipping them with the
position? tools and training they need
to keep moving forwards. appraisal is no longer suf- This gives everyone the op-
A During my first 15 years The cycles of business are ficient. All employees require portunity to understand how
at Biz Group, I dont think moving much faster now; constant feedback to stay on theyre performing in the
I had a leadership mantra. this and the rise in millen- top of the business needs. present moment, and the op-
As the founder, it was about nial talent means feedback So, weve shifted our struc- portunity to feedback on the
finding really great people cycles on performance con- ture to incorporate frequent business and the leadership
and inspiring them to help versations need to change. check-ins between employ- team. A frequent check-in
grow the business together. The annual or biannual ees and their line managers. might only be 15 minutes in
our stand-up meeting room,
Hazel Jackson, every two weeks, but its
CEO, Biz Group helping connect managers
and Biz-ers in a dynamic
way that meets todays busi-
ness pace.

I strive to keep
growing and
developing our
people by giving
them stretch
challenges whilst
equipping them
with the tools
and training
images courtesy: biz group

they need to keep

moving forwards.

38 Entrepreneur july 2017

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

Ahmed Abou Hashima,

CEO and Chairman, we will overcome it, as we
Egyptian Steel, have overcome worse prob-
Egyptian Cement, and
Egyptian Media
lems in the past. Egyptian
Steel, my first company, had
been established only a few
months before the January
2011 Revolution started. I
believe that was the biggest
challenge any company could
have ever faced. The market
was unstable, the political
and economic scenes were
in turmoil. People called
me crazy for investing more
than US$1 billion in Egypt
after the revolution. But I
believed in the resilience of
the Egyptian economy, and
I had the team that helped
us sail safely through this
storm. Yet, here we are six
years later, with two new
steel plants that are consid-
ered the biggest in the world
the workplace, the better the in producing green steel, and
Ahmed Abou Hashima work environment. with a new sister company
CEO and Chairman, Egyptian Steel, Egyptian Cement, For example, the biggest Egyptian Cement, as well as
and Egyptian Media problem now is the current a project for the full building
devaluation of the Egyptian materials complex on the
pound which has caused way. Lastly, we have also
Q How has your leadership successful a business is, if it lower purchasing power, but started Egyptian Media.
approach contributed to does not keep the pace with
the realization of your com- the ever-changing market
panys goals? Also, what are demands, it will eventually
some of the challenges you fall. For that reason, I del-
Take the lead
currently face with respect egate much more now than Ahmed Abou Hashimas tips for entrepreneurs fronting
to running your business? before. The business has their enterprises
expanded enormously and it
A After January 2011, I took would never have succeeded 1. Invest in your team instead of imitating someone
a calculated risk and pumped if it had been run with a Choosing the right talent is elses success story.
a US$1 billion investment one-man show strategy. I the biggest investment any
into Egyptian Steel, which have a team now that has businessman could ever make. 4. Have a plan, yet remain
eventually paid off. By the been with me for years. I The recipe to success cannot flexible Circumstances do
end of 2017, Egyptian Steel call my employees the dream be complete without a properly not always go as planned, the
and its subsidiaries will be team. They are the groups qualified team to reach the vi- skill to adjust your sails without
producing 20%-25% of biggest asset. We recruit and sion set for the company. changing your destination is
Egypts steel supply. So, my maintain the highest calibers vital for survival. You might
only competition is who I in every field. I also adopt 2. Always have a vision need to adjust your method,
was yesterday. I never com- an open-door policy. Its not Think 10 years ahead, what but do not give up on your
pare myself to others. My difficult to reach me or talk you want, how it can be goal.
ambition has no limit, and I to me about any problem reached, and then act upon it.
will always work on improv- in the work place. The best You cant let your future be 5. Protect your reputation
ing and expanding until the strategy to lead a team is to played by ear. in the market During rough
group is recognized globally. make each and every employ- times, your positive reputation
Beating my own records is ee feel ownership of what
image courtesy: ahmed about hashima

3. Understand your compet- will be your only savior. Guard

what keeps me motivated. they do. They are not merely itors, but do not imitate Do and keep your reputation, no
Today, as a well-established employees, they are a part of not compare yourself to others, matter what it costs you. It is
business, our biggest chal- the bigger family, each with and always aim to create a one of the most valuable intan-
lenge is to not fall into a an effective role. The higher competitive edge for yourself gible assets.
comfort zone. No matter how the loyalty you build within

july 2017 Entrepreneur 39

 FOLLOW
THE LEADER
Enterprise head honchos talk
strategy, industry-specific tactics,
and professional challenges

Essa Al Zaabi
Senior Vice President Institutional Support Sector,
Dubai Chamber of Commerce and Industry, and General
Coordinator, Tejar Dubai

Q What are the main fac- as well as its unique posi-

tors that you believe helped tion as a bridge between
make Dubai Chamber a business and government.
leading and influential Over the years, the Cham-
chamber of commerce in bers mission has remained
the MENA region? the same: to protect and
support the interests of
A In just over five decades, Dubais business commu-
Dubai Chamber has evolved nity. However, our organiza-
greatly become one of the tion has expanded its reach
worlds largest member- and its activities consider-
ship-based chambers of ably to meet the needs of a
commerce with a network fast-growing business com-
that exceeds 201,000 munity. We have made in-
members. This rapid growth novation, entrepreneurship,
can be attributed to several SMEs, policy advocacy, di-
important factors, which versification, e-commerce, Take the lead
include the strong commit- sustainability, CSR, and Essa Al Zaabis tips for entrepreneurs fronting their
ment and vision of Dubais international expansion a enterprises
wise leadership and govern- key part of our strategy and
ment, the Chambers pro- will continue to facilitate 1. Utilize your most valu- 4. Build and manage
active approach to promot- public-private partnerships able asset Communicating relationships Beyond your
ing the Emirate as an open to achieve our vision and and listening to your team existing team, establishing
economy and attractive contribute towards Dubais will help you understand their business partnerships that add
trade and investment hub, economic growth. strengths and skills, while value to your organization is
establishing transparency necessary to grow. However,
within the organization will these are relationships which
help employees stay focused need to be managed and lever-
on executing your strategy. aged to help a business reach
its potential. When forming
2. Attract the right people partnerships and new relation-
Recruiting high-quality tal- ships, it is all about quality
ent with the necessary skills and value over quantity, and
is critical during the early delivering on your promise is
stages of building a business. extremely important when you
Retaining top talent is easier are starting out.
said than done, and to do this
effectively, leaders must keep 5. Keep innovating
employees engaged by making Remember that innovation is
them part of the process, and a gradual process and not an
providing incentives and recog- end goal. It should not just be
nition for top performers. a buzzword thrown around an
organization, but actually form
3. Invest in technology and a core part of its strategy and
development Given the rap- mantra. Some of the worlds
id pace at which technology is most innovative companies
images courtesy: dubai chamber of commerce

evolving today, it is absolutely allow employees to dedicate a

Essa Al Zaabi, imperative that startups adopt significant portion of their time
Senior Vice President new technologies and invest in to pursue independent projects,
Institutional Support developing and training their which has led to greater pro-
Sector, Dubai Chamber
of Commerce and employees in order to remain ductivity and higher innovation
Industry, and General competitive. output.
Coordinator, Tejar Dubai

40 Entrepreneur july 2017

Essa Al Zaabi
Senior Vice President Institutional Support Sector, Dubai Chamber of Commerce and
Industry, and General Coordinator, Tejar Dubai
innovator

Disrupting
diagnostics
Ziad Makhzoumi CEO, MAP Sciences
This seasoned businessmans new project is all set to make waves
in the healthcare sector

W
hen Ziad Sector in 2014. So, when Makh- collect data- our system will help
Makhzoumi zoumi talks about his latest role as you achieve that. We have the
tells you that the CEO of a new company called patents, we have the machines,
he is excited MAP Sciences, one almost auto- and we are ready to put them on
about a new matically wonders what about this the market. In terms of a business
project, its enterprise caught this seasoned model, MAP Sciences currently
safe to say businessmans eye. As it turns out, plans to lease or sell its machines
that a similar feeling would arise in this new company is bringing forth that have its patented technology,
you too- after all, this is someone disruptive technology to the field of and then generate revenue from
whose illustrious career so far (with medical diagnostics- MAP Sciences its tests, whose scope will include
perhaps his most noteworthy stints has developed a testing technique the detection of blood disorders,
being at Arabtec and Fakih IVF whereby a single drop of blood from diabetes/pre-diabetes, fertility and
Group) has seen him be declared as a patient can be used to provide a IVF embryo selection, pregnancy
everything from the most admired quick and accurate health profile in a disorders, and cancer. As of now
CFO in the Middle East in 2011 to matter of minutes. The way it works though, the MAP Sciences team
CEO of the Year in the Healthcare is thus: once the sample is collected is looking to raise US$10 million
and prepared, its placed on a mass in funds, which will primarily be
spectrometry reader, which then used, as Makhzoumi puts it, to get
sends encrypted data to a digital our machines in the market. The
Understanding the USP database. There, it will be matched GCC countries and the US are the
A look at the benefits customers can avail against thousands of other profiles targeted markets for MAP Sciences
from making use of MAP Sciences tech already on the system, following to enter in in 2017, with India and
which encrypted interpretations and China planned for the year after. The
Process optimization and efficiency results will be sent back to the medi- companys pitch deck reveals that it
Substantially decreased diagnostic/detection time cal facility. All of this may sound has got short-term, mid-term and
Faster patient treatment cycle
very complex, but therein lies its long-term market strategies in place,
Increased number of patients seen by doctors
USP: Makhzoumi explains that the and Makhzoumi believes that its
Substantial reduction in cost of testing MAP Sciences process is incredibly roadmap will involve an exit happen,
On initial blood draw sample collection fast (results from the tests can be probably by 2022, with the CEO
On repeat blood draw sample collection for obtained in a few minutes), its a lot expecting a very high substantial
multiple tests less expensive than the options that valuation for the company at
No need for different reagents for different tests
are currently available in the market that point in time. It is clear that
No cost for re-interrogation of the data from
various tests (a fraction of the existing costs, Makhzoumis confidence about MAP
No physical storage requirements for samples Makhzoumi notes), and its also Sciences stems from the technology
before and/or after testing remarkably efficient (multiple tests it has in place- it is something that
can be done on a single sample)- one is not hardware-dependent, and
Detailed report with accurate results can essentially get detailed reports one can certainly expect more tests
with accurate results in a matter of to be added to its portfolio very
Results within minutes
minutes, which is pretty apt for the soon, given the qualified scientific
Higher patient satisfaction due to accuracy times we live in today. team the company has on board.
The whole concept of the world Makhzoumi believes that its only a
IMAGE credits map sciences

and speed of diagnosis

is now [about] moving in the fast matter of time for all this to come to
Source: MAP Sciences lane, Makhzoumi explains. We fruition- and he is all set to make it
need to digitize, and we need to happen. Stay tuned!

42 Entrepreneur july 2017

 The whole concept of the
world is now [about] moving
in the fast [Link] need to
digitize, and we need to collect
data- our system will help
you achieve that. We have the
patents, we have the machines,
and we are ready to put them
on the market.

The executive summary

Ziad Makhzoumi

Ziad Makhzoumi started and private equity buyouts

his career in 1981 with Booz and restructuring activi-
& Co. From 1985 till 2000, ties in Europe, the Middle
Ziad became the CFO and East and North America.
CIO of a Luxembourg- Ziads most recent project
based private holding was the Fakih IVF Group, a
company with operations leader in fertility treatment
in North America, Europe, in the GCC and the MENA
and the MENA region. Ziad region. He joined them as
also assumed executive their CEO and turned the
and non-executive respon- business, which started as
sibilities in the groups one clinic, into the leader
subsidiaries. From the in its sector in the UAE,
beginning of 2001 till his accounting for 30% market
appointment as the CFO share, with revenues
of Arabtec Holding PJSC in increasing by over 500% in
2008, Ziad was involved two years, and net margins
in strategic consultancy exceeding 50%.

july 2017 Entrepreneur 43

TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

Finding
the right growth opportunities, the
benefits you offer and the kind
of products/services youre
working on. Without a stellar
good candidates when filling a
job vacancy. As a result, they
receive CVs from recruiters,
from candidates directly, as

hires
career website that is inviting well as from colleagues of-
and welcoming, youll see a lot fering referrals. Disparate CV
of candidates taking a pass on sources can make organization
even applying. challenging, and it becomes
Weve often been advised to easy to lose a good candidate
dress for the job we want, in the clutter.
because were more likely to With an ATS, all applications
achieve what we prepare for. are stored in one place. These
Seven reasons why a career This applies to hiring quality applications can be tagged,
talent as well. A good Appli- bookmarked, shared and
portal solution needs to be your cant Tracking System (ATS) stored in neat folders for quick
top priority By Muhammad Younas provider will develop a custom
career portal as a seamless
review and even quicker ac-
cess. This consolidation keeps

I
extension of your existing talent sourcing transparent
magine theres a vacancy in organizations, it is important website. Instead of plainly and ensures that you keep
your company. You devise a to start prioritizing from here listing vacant jobs, a branded close track of relevant profiles.
killer job ad, post it to so- and work your way up. This career portal resonates corpo-
cial media, and send out an article explains seven reasons rate values, shows a narrative 3. Your time-to-hire and
email to all employees in why you should invest in a that reflects the organiza- cost-of-hire is reduced
search of referrals. Youve career portal solution for a tions culture, and serves as Lets discuss the time element
done a terrific job making smoother, smarter, and easier an answer to why job-seekers first. Organizations must act
the position look attractive, recruitment experience that should apply to the organiza- fast to get hold of good talent
and have heavily advertised can iron out this painful sore tion. With this positive asso- because top players dont
it through paid mediums. You point for your company. ciation in place, the chances of remain in the market for long.
kick back and expect a flood getting good talent to apply for An ATS brings a lot of relief
of CVs to appear in your inbox 1. Its the first step vacancies skyrocket, and your through process automation.
the next time you hit refresh. to promoting your organization stands to become Business processes that
You click. Nothing appears. employer brand known as a place where people consist of several forms can be
You click two days later. Still, When a job seeker is a looking actively want to pursue a translated into a streamlined
nothing is there. This was to explore an opportunity at career. This ultimately leads to workflow in an ATS that keeps
definitely not what you were your company, the first place more diverse applications and everything in order. Some of
expecting. they will look to get more a wider talent pool for you to these tasks include:
When searching for good information is your official choose from. > Creating a job requisition
talent, sometimes posting a careers website. They arent > Composing a job posting
vacancy on social media or just looking for a job listing 2. Consolidation of > Tracking applicants
relying on referrals is not though. They want to know candidate profiles > Scheduling interviews
enough. With payroll and you as an employer. They becomes easy > Documentation of feedback
human resources being the want to understand the work Companies commonly use > Acquiring hiring approvals
top business expense for most culture, the workplace, career multiple means to source > In-app communication

Muhammad Younas is General Manager at Talentera, the #1 ATS Provider in the Middle East, and a product of [Link]. Talentera powers more than 250+ companies
career portals in the region. Younas can be contacted at younas@[Link].

44 Entrepreneur july 2017

 The platform allows a quick reports like a CV source
overview of the applicants breakdown help HR managers
across the hiring funnel, and understand the strengths
enables users to drill-down on and weaknesses of their
roadblocks for swift resolu- captured talent pool, while
tion. Many solutions offer those on an applicant-stage
breakdown help identify
mobile functionality which how close the company is to
further eases communication closing the position.
between candidates, recruit-
ers and line managers when versions. Since a sophisticated
they are on the go. Both these solution captures applicant in-
features help drastically shrink formation in a well-structured
the hiring cycle and reduce manner, searching for relevant
your companys time to hire. profiles becomes easy.
A career portal solution can Robust search filters can 5. You gain efficiency directly from the application
help you avoid needless back conveniently be used to reach by enabling better interface saving time and ef-
and forth in sharing require- a candidate with your required collaboration in HR fort.
ments, tracking referred CVs years of work experience, There is a lot of process over-
and understanding their educational background or head in place when it comes to Share CVs This feature is
performance. The centralized target industry, since the hiring. A career portal stream- especially helpful when for-
system also reduces costs by portal captures these details lines most of these processes, warding the candidate to the
eliminating data redundancy during profile creation. Ad- such as: next evaluator or simply when
and inconsistency across vanced searches incorporating the HR manager or recruiter
hiring processes. 73% of complex search queries and Annotations An ATS allows has to delegate their tasks to
employers say that a bad hire keyword searches further help HR to tag CVs with labels to someone else.
costs more than keeping the narrow down relevant candi- keep track of them. They can
position vacant. Therefore, dates, which becomes crucial also record detailed notes Task management Enables
you will benefit by identifying when databases become large. against profiles, which devel- users to assign tasks like
better job-fits using stand- Some providers also of- ops a knowledge repository reviewing a CV, interviewing
ardized processes to choose fer auto-screening, which where each user gets the same a candidate, verifying budget,
applicants, rather than filling screens-out irrelevant profiles view of the candidate upon etc. This makes it easy to
positions in haste, which also even before they reach your viewing the profile. maintain track of your tasks,
brings us to the next point. inbox. Recruiters can set dif- keeps the process transparent
ferent criteria as screen-out Communication templates and the responsibilities clearly
4. You get to focus on filters that are used by the Rather than switching tabs defined.
highly relevant talent portal to automatically siphon between the ATS and a mail
A good career portal solution off irrelevant CVs to a separate window, top service providers 6. You are able to make
enhances the candidates expe- folder to keep your talent pool allow recruiters to communi- more informed decisions
rience, which increases con- clutter-free. cate with candidates via email on candidates
There are relatively few op-
portunities to gain insight into
the candidates personality
and ability prior to the in-
terview. However, automated
tests can serve this purpose
well. You can choose from a
list of different psychometric,
behavioral and technical tests
to gauge the strengths and
weaknesses of your candidates
before interviewing them.
Most solutions allow
automated scoring of the
[Link] | top image kwantek

tests, which keeps the results

objective. This quantitative
scoring also enables recruit-
ers to rank candidates on their
test performance, which makes
comparison easier.
You can also create or use >>>

july 2017 Entrepreneur 45

TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

| BUSINESS UNUSUAL |
templated evaluation forms
for internal assessment of can- An anti-social social network
didates. This further helps in The new Binky app wants to satisfy your smartphone browsing
keeping all information in one cravings by doing nothing
place, giving the HR manager a
clear view of everyones feed- the latest political developments on Twitter.
Dan Kurtz,
back over every candidate. creator of Binky App These features are a reason why the techie
pitches the app as a replacement for scrolling
7. You gain visibility into through awful news on Twitter, scrolling past
the effectiveness of your people who are happier than you on Facebook,
hiring processes and much more.
Most solutions offer complete Intended as a personal project, it took Kurtz
transparency over actions about a year and a half to develop the app (as
performed on the portal. Ac- he worked alone on it as a part-time activity),
tivities performed by users are and not surprisingly, creating the random con-
stored in activity logs, which tent of the app was the most time-consuming
makes it easy to keep track of part. Any potential investor with a good sense
both applicants progress along of humor is welcome to get in touch, but itll
with the teams efficiency. be hard to tear me away from Beyond 12, the
This transparency also helps
quickly identify bottlenecks in
the hiring process. It enables
D o you often feel like you need to check your
phone once every few minutes, but theres
nothing in particular you want to use it for? A
social justice non-profit where I work, admits
Kurtz, speaking about his vision for Binky.
Kurtzs current plans for Binky (which is only
managers to check whether a US-based software engineer and app develop- available on iOS as of now) includes a version
recruiter or line manager has er Dan Kurtz noted such tendencies in people for Android, and the developer also confesses
been stalling a candidates today, and felt it would be fun to develop an to have ideas about some new features, but
interview or has been lazy in app that feels like social media without actu- wants to keep things flexible observing user
processing their information. ally being social media for such cravings. I reactions to the app.
Additionally, reports like a wondered how much of my social media use However, the app and its satirical premise
CV source breakdown help was due to wanting to know about news and seem to have resonated well with its initial
HR managers understand the talk to my friends, and how much of it was user base. Besides catching on to the sup-
strengths and weaknesses of just a craving for something to scroll through, posed meaningless of the modern world that
their captured talent pool, while Im waiting for the bus or whatever, says the app takes a dig on, some people have also
while those on an applicant- Kurtz, explaining his motivation to develop come forward with ideas for what Binky could
stage breakdown help identify the new Binky app. Binky, as per Kurtzs be used for. Someone suggested that it could
how close the company is to description on Product Hunt is an infinite list be useful for people who are learning English.
closing the position. These of random things to look at. You can scroll Someone else said kids could use it as a sort of
reports help executive leader- through the app looking at binks (random training wheels for social media, says Kurtz.
ship make informed decisions images that appear on and then vanish off the While people may see varied purposes for
regarding the kind of talent screen) whenever you want something to scroll Binky as it catches on, its aim to do nothing
they want to attract, whether through, and while that may sound unexciting, is likely to be its key appeal. For those of you
their hiring process needs Kurtz believes its just as compelling as real still trying to ascertain what Binky intends to
alterations and most impor- social media apps, and way less stressful. accomplish, its best summarized by a line on
tantly, whether a career portal The app incorporates everything that a social the apps website describing its non-existent
solution was a worthy invest- network has today- and yet does absolutely objective: Do whatever the hell you want in
ment after all. nothing. With an Instagram-like look, the app Binky- no one will ever see it [or care]. No
It is quite clear that a good has a like button, lets you scroll endlessly, judgments, no political correctness, and zero
career portal solution adds swipe left/right, and has a very unique com- traces in the online world sure seems a wel-
more than just a tab on your menting feature. One just has to touch random come relief in todays hyper-connected world.
website. People, being the keys on the keypad, and voila, Binky will write
backbone of the company, a comment for you on its own! However, the
mandate that adopting a ca- best part is that these actions on the app are
binky app image [Link] | dan kutz image binky

reer portal solution be kept of no consequence- all your likes, comments,

as the number one priority and re-binks ( la retweets) disappear into
regardless of the size or age the void, and dont even get recorded. As The
of the company. However, Atlantics profile on Binky reads, the app can
it is important to choose a be thought of as a social network platform
configurable solution that can minus the socializing and networking. Con-
grow as your company grows sequently, you wont come out of a scrolling
to adapt to your changing session feeling jealous of your friends vaca-
requirements. tions, nor do you need to feel angry catching Binky app

46 Entrepreneur july 2017

 Wanted
If you know anyone who wants to start up
a business in the UAE, we are looking for them.

Reward
Earn up to AED 2,500 for a successful referral.

VZAE
8923
[Link]/referral

T&Cs apply
TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

resonant mission, authenticity

and trust) that no amount of
industry prominence or cash
can overcome.

2. Digitalization may
require a reformulation
of the firms mission
The environmental shift caused
by digital may challenge the
very existence of individual
companies, even entire in-
dustries. Boards and execu-
tives will need to question all
pre-existing assumptions about
the firms mission and indus-
trial positioning, as well as the
sustainability of its business
models and methods.

3. The meaning and impact

Paradigm shift of digital to the firm
must be clearly stated
11 leadership guidelines for the digital age Digital advantage resides
By Liri Andersson and Ludo Van der Heyden largely in the opportunity
to customize not only
products and services but
Digital advantage Ten years ago, when we We discovered that most board also organizational strategy
resides largely in the would ask senior executives members lack the knowledge and structure. Rather than
opportunity to customize
or company directors what and awareness necessary to searching for a blueprint
not only products
and services but also digital meant to them, their lead a digital transformation. to guide them through
organizational strategy response would usually be To help top management catch digitalization, firms should
and structure. Rather something related to social up, we recently issued a follow- define their own digital
than searching for a media. Today, it might be apps, up report, which presents 11 road map. Leaders can start
blueprint to guide them big data, 3D printing, the cloud strategic implications and rec- by developing an in-house
through digitalization, or another current example of ommendations, that we have dictionary, including entries
firms should define their
own digital road map.
digital technology. All such an- summarized below. These are for digital and all related
swers are equally correct and based on the previous findings, keywords, terms and concepts.
equally in error. More impor- our combined business and Like any other dictionary, it
tant than the specific innova- teaching experiences, and pro- will need frequent updates.
tions introduced by the digital fessional collaborations with
revolution is their earth-shak- organizations across multiple 4. Digital understanding
ing cumulative impact on regions and industries. and capabilities are
business and on organizations. required across the firm
There is no border anymore be- 1. Digitalization Digitalization may involve a
tween the pre- and post-digital requires an unbiased great many experts, but the
worlds. Digital is business and understanding of the ultimate responsibility for
business is digital. external environment digital transformation belongs
Yet, top corporate leaders are Analog-era frameworks such to all functions within a firm.
not taking charge of digitaliz- as Michael Porters five Successful change also requires
ing their organizations, as was forces will need to be revis- cooperation from junior con-
made clear to us by a survey we ited, now that the impact of tributors all the way up to the
conducted in 2016 to which digitalization is rapidly replac- board by linking digital-savvy
1,160 managers, executives and ing traditional physical bar- millennials, with the business
board directors responded riers to entry with intangible experience and wisdom of sen-
that developed into a report. barriers (e.g. relevant purpose, ior executives and directors.

Liri Andersson is the founder of this fluid world, a Ludo Van der Heyden is the Chaired Professor of Corporate Governance and
boutique business and marketing consultancy that a Professor of Technology and Operations Management at INSEAD. He is
enables Fortune 500 organizations understand, the founder of the INSEAD Corporate Governance Initiative, co-director of the
navigate and commercially exploit the changing International Directors Program and Value Creation for Owners and Directors,
business and marketing environment. [Link] and lectures on governance, leadership, and business model innovation. [Link]

48 Entrepreneur july 2017

 5. Digitalization must be 9. Decision-making experiments and quickly take viewed either as a catastrophe
supported by the firms in the digital age is learnings on board. For their or as a world of opportunity
corporate culture increasingly data-driven part, boards and executives depending on whether your
The digital revolution is Compared with the plethora must raise their comfort allegiances lie with the old
indeed cultural, not merely of advanced predictive and level as regards uncertainty, order or the new. Optimism
technological. As with any analytics tools available to ambiguity and risk. is a prerequisite for survival.
large-scale cultural change, businesses today, the old- Digital will undoubtedly force
digitalization will never take fashioned executive summary 11. Digitalization is about boards and executives to
hold unless it is driven by top laying out binary choices is a continuous management attain unprecedented levels
executives, under the boards primitive instrument. In the of change of innovation, competence,
leadership. absence of big data, what used In the pre-digital world, a effectiveness, leadership and
to be allowable as an educated one-off change management responsibility with funda-
6. Digitalization demands guess will become at best a program could pay dividends mentally positive results for
a greater level of stab in the dark. for years if not decades. Not both firms and society.
collaboration anymore. Directors and ex- It is unlikely that familiar
Business success can be 10. Digitalization ecutives must ensure that the forms of organizational
achieved only through con- requires firms to enter will and ability to continu- leadership will survive the
tinuous collaboration and uncharted territories ously change are built into the digital revolution. In order for
ongoing conversations between Planning for disruption very fabric of the organiza- boards and executives to fulfil
shareholders, boards, execu- entails exploring new tion. their roles effectively in the
tives and frontline employees. business models and revenue future, a reshaping, if not a
In addition, digitalization is streams. Organizations will The digital revolution, like disruption, of these functions
blurring the lines between dif- have to launch ambitious every revolution, can be is necessary.
ferent industries, heightening
the importance of cross-func-
tional and external collabora-
tion.
Techstars comes to Facebook, Youtube, Wunderl-
7. Digitalization requires ist, Basecamp, and more.
greater engagement with
the MENA GINCO, a full service general
the public Techstars, in partnership with GINCO, contracting firm has recently
In the past, customers were is bringing its accelerator program to Dubai launched GINCO Investments
subdominant. We spoke at to support MENAs SMEs and

L
them; we marketed to them. ook whos joining the welcomed over 500 entrepre- entrepreneurs, particularly
With digital, anyone can create MENA ecosystem: neurs, making this expansion from startups offering solu-
and monetize value with size, Techstars, in partnership an indication to its growing tions in the transportation,
scope and speed. Just as easily, with GINCO, is bringing its mentorship-driven accel- construction, wellness, IoT,
consumers can destroy value accelerator program to Dubai, erator program. A few of its and robotics sector, among
by, for example, dismantling opening this month and set- noteworthy mentors includes other. And with Dubais goal
a massive company one tweet ting off in January next year. entrepreneurs and team of fostering a hub for tech
at a time. It has never been After launching accelerators in members from SoundCloud, startups and Techstars accel-
easier or more essential to New York City, Boston, Seat- PwC, SAP, Kickstarter, Ali- erator program- its a match
co-create with customers tle, Austin, Chicago, Austin, baba Group, Google Ventures, that can be beneficial for
and crowdsource ideas, and Boulder, Kansas City, LA, Twitter, Amazon, Foursquare, entrepreneurs across sectors.
firms that position themselves Atlanta, Adelaide, Minne-
as facilitators of customers apolis, London, Tel Aviv, Cape
dreams will win in the future. Town, Toronto and Berlin, the
new Dubai-based accelerator
8. Business strategy in will be marked as Techstars
the digital age becomes a first program set in the MENA
continuous process region.
Gone are the days when Started in 2006, Techstars
companies had the luxury to is a worldwide network sup-
think in terms of five-year porting entrepreneurs through
strategic plans. With major its accelerator programs
business trends shifting that educates and connects
constantly as they are today, entrepreneurs, and currently
strategy formulation and has 798 active companies on
execution need to happen its portfolio. In 2011, the Tech-
[Link]

simultaneously and ideally in stars Startup Weekend Dubai

a seamless feedback loop.

july 2017 Entrepreneur 49

TECH SHINY | WEBSITE TO WATCH | GEEK | MOBILE TECH | ONLINE TREP | THE FIX

This months lineup is dedicated to the gamers among you, featuring everything from powerful laptops
that pack a punch, to keyboards that are designed to up your game. Yes, its okay to want them all
and no, its not our fault.

Get in the game

Lenovo Legion Y720 Lenovo Legion Y720 Laptop in UHD

The new Lenovo Legion line, and stream your favorite With an optional red backlit
which includes the Y720 and games, live chat, and play keyboard, gaming at night
Y520 laptops, is designed music, all at the same time, isnt a problem either. Even
for the gamer in you. Lenovo without a hitch. The Lenovo better, the Lenovo Legion
Legion laptops are outfit- Legion Y720 Laptop also Y720 Laptop comes with the
ted with the latest NVIDIA comes with an anti-glare dis- option of an integrated Xbox
graphics cards, as well as the play, Thunderbolt 3, currently One Wireless receiver, which
Intel 7th generation i7 Core the fastest port available on supports up to four control-
processors for the speed a PC, and VR-ready NVIDIA lers simultaneously for gam-
you need to win. With 16 GB GeForce GTX 1060 graphics ing with friends- a way to
DDR4 memory, you can run for immersive gameplay. get everyone in the game.

IMAGES COURTESY: lenovo, hp, benq, Qualcomm

Lenovo Legion Y520 Laptop with

Lenovo Y Gaming Headset

50 Entrepreneur july 2017

 SHINY | WEBSITE TO WATCH | GEEK | MOBILE TECH | ONLINE TREP | THE FIX
TECH

Gaming on the go
OMEN X Compact Desktop by HP

The OMEN X Compact Desktop ously. Additionally, the batteries

by HP puts powerful gaming are conveniently placed on the
hardware in a small package. backpack harness so you never
Under the hood, OMEN X can have to remove the backpack to
be outfitted with Intel 7th swap the batteries. The back-
gen unlocked Core i7 CPU op- pack also includes shortened
tions and factory-overclocked cables and locking cables with
NVIDIA GeForce GTX 1080, hooks to hold the VR headset
which provides the horse- securely in place. OMEN X is the
power needed for gaming at 4K ultimate device for gaming on
resolutions and flawless VR. the go.
The OMEN Command Center
OMEN X Compact Desktop by HP
reduces latency and gives you
control over network traffic,
data streaming and updates
occurring in the background. Snapdragon 630
OMEN X is small enough to and 660
carry, and it comes with a VR
backpack, which makes it easy
to transport. Hot-swappable
batteries enable extended VR
sessions without shutting down
the PC. HP includes four batter-
ies and a charging dock with the
backpack accessory, so that you
can charge two batteries while
using the other two simultane- OMEN X Compact Desktop by HP

Tap into this

ZOWIE Celeritas II
Power up
BenQ launched its latest for brightness. With more Snapdragon 660 and 630 mobile platforms
keyboard, the ZOWIE Celeritas precise pretravel, keys have
II, catered toward gaming less distance to travel before Move over PCs, because improvement in the Qualcomm
enthusiasts. This power-packed an action is performed. The mobile gaming just got an Adreno 512 GPU performance,
peripheral has features like ZOWIE Celeritas II also has upgrade: Qualcomm recently ensuring a better gaming
high-quality iron springs for improved durability to meet the released the Snapdragon 660 and multimedia experience.
pressurized keystrokes, optical standards required for e-sports. and 630 mobile platforms. The Snapdragon 630, which
switches to avoid double Best of all, there are no drivers The new chips are designed to succeeds the Snapdragon
key presses, and illuminated needed, just plug in and tap drive advanced photography, 625, offers a 30% increase
keys that can be adjusted into it. improve connectivity, support in the Adreno 508 GPU
machine learning and enhance performance, as well as a 10%
ZOWIE Celeritas II gaming. The Snapdragon increase in CPU performance
660 Mobile Platform is the over its predecessor. Shopping
successor to the Snapdragon for a new device? Look under
653, and features a 20% the hood first, because
improvement in the Qualcomm Qualcomm chipsets are poised
Kryo 260 CPU and 30% to help you level up.

#TAMTALKSTECH Tamara Clarke, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one
of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the
region. Clarkes goal is to inform about technology and how it supports our lifestyles. See her work both in print regional publications and online
on her blog where she discusses everything from how a new gadget improves day-to-day life to how to coordinate your smartphone accessories.
Visit [Link] and talk to her on Twitter @TamaraClarke.

july 2017 Entrepreneur 51

CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

Trep trimmings
The executive selection
From better goods to better wardrobe bests, every issue we choose a few items that make
the approved executive selection list. In this issue, we present the Suitsupply Spring/Summer 2017
range, a timepiece with a fan following, an addition to your leather footwear collection,
as well as an essential item for your next jaunt.

Omega
Speedy Tuesday

THE SPEEDSTER
Omega
Omega fans on Instagram would know
what #SpeedyTuesday is all about: the
hashtag, started by Fratello Watches
founder Robert-Jan Broer, has been
popularized by Speedmaster enthusi-
asts of the 2012 timepiece. It gained
such a following that it inspired the
brand to launch the limited edition
Speedmaster Speedy Tuesday. It was
also the first Omega watch to be of-
ficially sold online through Instagram,
as well as on its website. Fun fact? Its
design, influenced by Omegas Speed-
master Alaska Project III, an edition
created for NASA in 1978, offers a
reverse panda dial and bright radial
sub-dials.
[Link]

Omega
Speedy Tuesday

52 Entrepreneur july 2017

 COOL COMFORT
Suitsupply Spring/Summer 2017
Influenced by Bauhaus, Suitsupplys SS17
range takes in the German modernist
art schools approach to design of
stressing on art and industrial design.
With its linen-designed pieces, the line
combines function with aesthetic. It
layers cashmere, cotton and silk in suits,
sweaters and ties, available in a range
of neutral palette of off-whites, grey and
dark navy, suited for a lightweight feel
and structured look. For an ensemble
that can withstand the blazing heat from
meeting to meeting this summer, this
collection is your new go-to.
[Link]

Suitsupply SS17

Editors pick Suitsupply Suitsupply

Billionaire SS17 SS17
Behind the Billionaire haute couture brand is
Suitsupply
businessman Flavio Briatore, and if theres SS17
anyone who knows your lifestyle, its an
entrepreneur. Featuring an opening with double
zip, coat of arms stitched on the front, and
plenty of room for your documents with its
inside compartment, this leather weekender
made by Italian artisans is prepped for
adventure. (And it works just as well as a
carry-on bag, or even as a heavy duty bag at the
office.)
[Link]

Billionaire
Sport medium
bag Ronnie

ITS ALL IN THE DETAILS

Barrett
Founded in 1917, Barrett has certainly
earned its name in the handcrafted
footwear scene. Our pick from the Italian
brands Spring/Summer 2017 collection
is this pair in Barrets craftsmanship style
made with soft leather, embellished with
Billionaire
Sport medium handmade details and a texture effect. Its
images courtesy omega, suitsupply, barrett, billionaire

bag Ronnie a versatile piece that can be sported with

a formal look, and for your off-the-clock
hours too. [Link]

july 2017 Entrepreneur 53

TREPONOMICS ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

Making
working together
work
The Esquire Guy on on what goes into building
a perfect collaboration
By Ross McCammon

T
o collaborate with The fact that I dont have any
another person is to technical background means Im
admit weakness. Theres not impeded by my knowledge
no way of getting around of what its going to take to build
it. If you werent in a position something, so Im free to just dream
of weakness, you wouldnt need up features and ideas, says Cyrus
anyone elses help. When engaging Farudi, founder along with Omri
in a collaboration, youre saying, I Cohen of Capsule, a web and mobile
dont know how to do this on my app built for event planning, group
own. Youre both saying that. Youre interaction and photo sharing.
co-failing, really. Which is the best Luckily, my partner, who has a
way to start a partnership. Because technical background, has a very
along with vulnerability comes yes, it can be done attitude. There
trust. And trust is everything. have been screaming matches when
So, then, the first question is: how Ive tried to get too involved in
do you decide who to collaborate something on the tech side.
with? Related: it helps if your
There are two criteria. You collaborator is a person you dont
want a peer, obviously- you cant like all that much- or at least is
have a true collaboration with someone with whom youre always
someone who is above or below on the verge of arguing. Tension can
you hierarchically. But more produce wonderful things. It has to.
important than a peer, you want Collaborating is about co- about hugs. I think people think
a complement. You need a Jobs to laboring, says Nilofer Merchant, about it as this positive thing, but
your Wozniak, a Hall to your Oates, innovation expert, Harvard its really about how you solve tough
a rhino to your tickbird. You want Business Review columnist and problems that neither party could
someone who knows as much as author of The New How: Creating solve on their own.
you do, just not about the same Business Solutions Through If youve chosen someone based
things. Collaborative Strategy. Its not only on skills and intelligence, there

KEY TECHNICAL MATTERS

When collaborating, a period of than the person not taking notes. masking tape and labeled The Me
silence is an important tool for Unless those notes strictly involve Zone.
resetting creativity. doodling. Collaboration is 34% less effective
Unless it lasts for more than 30 Especially if the doodling involves when done via video conference.
seconds, in which case it is a concentric circles symbolizing the 52% less effective when done via
staring contest. rings of hell. phone.
Which is fine as long as your goal The best environment for 71% less effective when done via
is to innovate new approaches to collaborating is neutral territory: a literally yelling across a divide.
staring. Or contests. Or the eyes. conference room, a coffee shop. Collaborate is a verb.
Or the soul. Or inaction. The worst environment for Coendeavor is not a verb.
During a two-person collaborating is non-neutral Cothink is also not a verb.
collaboration, the person taking territory: your office, your car, Cocoa is sometimes nice if youre
notes is slightly less in charge a 4x4 foot area delineated by collaborating during the winter.

54 Entrepreneur july 2017

 The point is: collaboration is So, if your cohort laughs, you laugh,
harnessed conflict. too. If your cohort slumps in his
Once you have decided who to chair, you slump. If your cohort
collaborate with, you need to meet raises his eyebrows, you raise yours.
with them to get working on what- If your cohort uses the term cohort,
ever it is you want done. momentarily disengage behavioral
A good way to start the meeting mirroring because you dont want
is to say: we know what the goal to be the kind of person who throws
is, but we dont know how to around the word cohort.
get there. You have to have the Now, a few words about credit is
difficult conversations first, required here. If youre concerned
says Jim Moran, co-founder, that you wont get specific credit
president and COO of Yipit, a New for your specific ideas, realize that
York-based deals aggregator and you wont get specific blame when
recommendation service. You your ideas specifically dont work
have to determine who is better at out so well, either. Sometimes
what. That transparency will make people ask: If we create something
everything flow. together, then how do I get
To ensure transparency, credit? author Merchant says.
weve developed a set of four But with a collaboration, its hard
proclamations with which every to know either who to praise or
collaboration should begin: who to blame, and theres a lot of
1. This is why youre here. leadership work that says you ought
2. This is why Im here. to know who to choke later.
3. This is the goal. More important, who would
4. These are the doughnuts. want to establish individual credit
(In business texts, youll often find for something that came out of a
this referred to as the YMGDI, or two-person collaboration? Thats
the You Me Goal Doughnuts Im- not just a professional issue, thats
perative.) a moral issue. Its an abuse of the
The rest of the collaboration cant trust. And when you abuse the
be codified. It shouldnt be. A meet- trust inherent in a collaboration,
ing in which two people are collabo- youre undermining the unit. Youre
with a collaboration, its rating is a secret place defined by undermining you: you, but better;
hard to know either who to its own rules and rhythms. To offer you, but smarter; you, but twice as
praise or who to blame, and up techniques for such interaction likely to come up with something
theres a lot of leadership would be to undermine the sacred brilliant.
work that says you ought to bond between two people working
know who to choke later. together under a cloak of mystery to
solve an important problem. Things you should never say
might be a personality conflict that, Well, actually, theres this one while collaborating
under normal circumstances, could technique that intrigues us- as
lead to a standoff. But youre a Get me a coffee.
contrived as it may be. Its called
team, so conflict over personalities behavioral mirroring. The So on the Idea Scoreboard, Im
would be distracting and frivolous. neurologists believe it happens up 8 to 3. Just sayin.
Sure, the tension of your differences subconsciously- on dates and I dont like you.
might push both of you right up during job interviews, especially. I dont trust you.
to the point of failure (the brink Its nonverbal behavior beneath Who are you, anyway?
of doom, well call it). But there peoples awareness, but you can No.
are two reasons youre not likely get skilled at doing it deliberately, No way.
See this article in its entirety at [Link]

to go over the brink of doom: one, says Steve Kozlowski, professor Absolutely not.
your fate is connected (by the of organizational psychology at Mmm. No.
handcuffs of mutual interest, for Michigan State University and
What part of I am better
lack of a better metaphor); and two, editor of the Journal of Applied
than you at this do you not
because a lot of great ideas happen Psychology. You mirror the
right before people fail- a kind of subtle behaviors of others during understand?
adrenaline kicks in, which keeps an interaction. Its part of the I feel lonely.
you from creative inaction (the attraction process. It tends to build Skiiiiiiiim. I said skim milk.
abyss of Man, we got nothin). rapport.

july 2017 Entrepreneur 55

CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

higher SAT scores, lower levels of sub-

stance abuse, lower likelihood of obesity,
better responses to stress, better social
skills as reported by their parents, and
generally better scores in a range of
other life measures.
The researchers followed each child for
more than 40 years and over and over
again, the group who waited patiently
for the second marshmallow succeed in
whatever capacity they were measuring.
In other words, this series of experi-
ments proved that the ability to delay
gratification was critical for success in
life.
And if you look around, youll see this
playing out everywhere:
If you delay the gratification of watch-
ing television and get your homework
done now, then youll learn more and get
better grades.
The power of delayed If you delay the gratification of buying

gratification desserts and chips at the store, then

youll eat healthier when you get home.
If you delay the gratification of finish-
40 years of Stanford research found that people with this one ing your workout early and put in a few
quality are more likely to succeed By James Clear more reps, then youll be stronger.

I
and countless other examples.
n the 1960s, a Stanford profes- So, the choice was simple: one treat
sor named Walter Mischel began right now, or two treats later. Success usually comes down to choos-
conducting a series of important The researcher left the room for 15 ing the pain of discipline over the ease
psychological studies. During his minutes. of distraction. And thats exactly what
experiments, Mischel and his team As you can imagine, the footage of the delayed gratification is all about.
tested hundreds of children -most of children waiting alone in the room was This brings us to an interesting ques-
them around the ages of four and five rather entertaining. Some kids jumped tion: did some children naturally have
years old- and revealed what is now up and ate the first marshmallow as more self-control, and thus were des-
believed to be one of the most important soon as the researcher closed the door. tined for success? Or can you learn to
characteristics for success in health, Others wiggled and bounced and scooted develop this important trait?
work, and life. Lets talk about what in their chairs as they tried to restrain
happened, and, more importantly, how themselves, but eventually gave in to What determines your ability to
you can use it. temptation a few minutes later. And delay gratification
finally, a few of the children did manage Researchers at the University of Roches-
The Marshmallow Experiment to wait the entire time. ter decided to replicate The Marshmal-
The experiment began by bringing each Published in 1972, this popular study low Experiment, but with an important
child into a private room, sitting them became known as The Marshmallow twist.
down in a chair, and placing a marsh- Experiment, but it wasnt the treat that Before offering the child the marshmal-
mallow on the table in front of them. made it famous. The interesting part low, the researchers split the children
At this point, the researcher offered a came years later. into two groups.
deal to the child. The first group was exposed to a series
The researcher told the child that he The power of delayed gratification of unreliable experiences. For example,
was going to leave the room and that if As the years rolled on, and the children the researcher gave the child a small
the child did not eat the marshmallow grew up, the researchers conducted fol- box of crayons and promised to bring
while he was away, then they would be low up studies and tracked each childs a bigger one, but never did. Then the
rewarded with a second marshmallow. progress in a number of areas. What researcher gave the child a small sticker
However, if the child decided to eat the they found was surprising. and promised to bring a better selection
first one before the researcher came The children who were willing to delay of stickers, but never did.
back, then they would not get a second gratification and waited to receive the Meanwhile, the second group had very
marshmallow. second marshmallow ended up having reliable experiences. They were prom-

James Clear writes at [Link], where he uses behavior science to share ideas for mastering your habits, improving your health,
and increasing your creativity. To get useful ideas on improving your mental and physical performance, join his free newsletter
[Link]/newsletter. To have James speak at your entrepreneurial event contact him [Link]/contact

56 Entrepreneur july 2017

 ised better crayons and got not a predetermined trait, a four-year-old makes will something easier (delaying
them. They were told about but rather was impacted by determine the rest of his or gratification) in favor of do-
the better stickers and then the experiences and environ- her life. ing something harder (doing
they received them. ment that surrounded them. But, the studies above do the work and putting in your
You can imagine the impact In fact, the effects of the make one thing clear. If you reps).
these experiences had on the environment were almost in- want to succeed at some- But the key takeaway here is
marshmallow test. The chil- stantaneous. Just a few min- thing, at some point, you will that even if you dont feel like
dren in the unreliable group utes of reliable or unreliable need to find the ability to be youre good at delaying grati-
had no reason to trust that experiences were enough to disciplined and take action, fication now, you can train
the researchers would bring push the actions of each child instead of becoming dis- yourself to become better
a second marshmallow and in one direction or another. tracted and doing whats easy. simply by making a few small
thus they didnt wait very What can you and I learn Success in nearly every field improvements. In the case of
long to eat the first one. from all of this? requires you to ignore doing the children in the study, this
Meanwhile, the children in meant being exposed to a reli-
the second group were train- How to become better at able environment where the
ing their brains to see delayed delaying gratification researcher promised some-
gratification as a positive. Before we go further, lets thing and then delivered it.
Every time the researcher clear one thing up: for one You and I can do the same
the marshmallow test book cover courtesy Random House

made a promise and then de- reason or another, The thing. We can train our ability
livered on it, the childs brain Marshmallow Experiment has to delay gratification, just like
registered two things: one, become particularly popular. we can train our muscles in
waiting for gratification is Youll find it mentioned in the gym. And you can do it in
worth it, and two, I have the nearly every major media the same way as the child and
capability to wait. As a result, outlet. But these studies are the researcher: by promising
the second group waited an just one piece of data, a small something small and then
average of four times longer insight into the story of suc- delivering. Over and over
than the first group. cess. Human behavior (and again until your brain says
In other words, the childs life in general) is a lot more that, one, yes, its worth it to
ability to delay gratification complex than that, so lets wait, and, two, yes, I have the
and display self-control was not pretend that one choice capability to do this.

Careem now valued at more valuation over $1 billion, and so- investor in Careem, has sold its
lidifying the homegrown brands stake to KHC. As part of this
than US$1 billion unicorn status. round, HRH Prince Alwaleeds
The ride-hailing app has raised US$150 million to close This latest investment acceler- KHC will gain a seat on Careems
its Series E round of $500 million ates Careems plans of further board of directors. It has also
growth and expansion, as well backed US-based (and Uber

T he MENA regions home-

grown ride-hailing app
Careem has gotten yet another
KSA-based investment compa-
ny, and Daimler AG, a German-
based automotive corporation,
as driving innovation that can
have a meaningful impact in our
communities, says Mudassir
rival) Lyft, as well as Twitter
and Snap, the company behind
Snapchat, before it went public,
boost: the company announced with investors DCM Ventures Sheikha, co-founder and CEO of while KSAs Public Investment
in June the second close of its and Coatue Management LLC Careem, in a statement regard- Fund has also invested $3.5 bil-
Series E funding round with also joining the round. This ing the investment. Launched in lion in Uber last year.
US$150 million, led by HRH $150 million infusion is on top 2012 and now with operations Having DCM Ventures and
Alwaleed bin Talals Kingdom of the initial round in December in more than 80 cities, Careem Coatue on this round makes
Holding Company (KHC), a 2016 of $350 million- taking its continues to scale rapidly, with it a first for Careem to have
notable milestones of launching Silicon Valley-based investors
in Palestine and Turkey, doubling join a round, a sign that more
its numbers in Egypt and Paki- investors are taking a look at
stan, and re-launching in Abu Middle East startups. The previ-
Dhabi and Kuwait. It has also ous round in December was led
integrated with Google Maps by Japanese tech enterprise
and Digital Barriers, a facial rec- Rakuten and KSA telco Saudi
ognition software enabled book- Telecom Company (STC), with
ing using Siri, and partnered other investors from previous
with Dubais Road and Transport rounds including STC Ventures,
[Link]

Authority to support booking a Al Tayyar Group, BECO Capital,

Dubai taxi with the app. El Sewedy Investments, and
The Abraaj Group, a previous Wamda Capital, among others.

july 2017 Entrepreneur 57

CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

A one-page
leadership textbook
(courtesy an email from Elon Musk)
By Murtaza Manji

M
ost people I speak
Elon Musk
to on a regular
Wed 5/31/2017 3:16 PM
basis know that
Im a huge Elon To: Everybody;
Musk/Tesla/SpaceX fan. I
truly admire the work theyve One more thing I want to say.
done, and they have undoubt-
edly raised the bar on what No words can express how much
truly is possible when a team I care about your safety and well-
of dedicated and hardworking being. It breaks my heart when
people come together. If you someone is injured building cars Elon Musk observing an assembly demo at the reopening of the NUMMI plant, now
havent yet, I strongly recom- and trying their best to make known as the Tesla Factory (Fremont, California)
mend you read Elons biogra- Tesla successful.
phy by Ashlee Vance. If every business leader were tant values in your business?
Now, Elon has pushed the Going forward, Ive asked that to have this level of concern How are you safeguarding
bar higher again- perhaps every injury be reported directly for every one of their team, them? What is your response
the highest its ever been in to me, without exception. Im we would see very different when those values are not
the automotive industry. No, meeting with the safety team results- financial, growth, upheld?
not self-driving cars or any every week and would like to retention and more. If this
fancy gadgets- those are easy meet with every injured person dedication and care is what 2. Im meeting with the
to change and replace. Hes as soon as they are well, so that I team members could expect safety team every week
demonstrated the irreplace- can understand from them exact- from their managers, how andevery injured
able, the highest traits of ly what we need to do to make it much harder would they be person[to] understand
leadership: responsibility, better. I will then go down to the willing to push themselves? from them exactly what
care and empathy. This is an production line and perform the There are a few key points to we need to do to make it
email he sent to the entire same task that they perform. note in Elons letter, and each better
company a few days after a of them is worth much deeper Nobody knows a task bet-
report by California-based This is what all managers at examination. ter than the person doing it
worker advocacy group Work- Tesla should do as a matter of every single day. The mistake
safe noted that injury rates at course. At Tesla, we lead from 1. Every injury be re- in many businesses is that
Teslas Fremont manufactur- the front line, not from some ported directly to me, process is created from the
ing facility were higher than safe and comfortable ivory tower. without exception top and pushed down the
the industry average in 2014 Lets admit it, as business chain, whereas the person

tesla car image and small elon musk image shutterstock | upper elon musk image Steve Jurvetson
Managers must always put their
and 2015: teams safety above their own. owners and managers, we actually executing the process
play favorites. But Elons suc- is skipping steps and making
cess has come from a near- changes, because the pre-
fanatical fixation on perfec- scribed process is not very
tion. No issue is too small to efficient.
be addressed if it is harming Getting everyones input is
the company in any way. fundamental for several rea-
When it comes to our sons. Firstly, it ensures that
values, every instance of the the steps outlined actually
matter is important, not just help get the work done faster
the big ones. Initially estab- and better, because the people
lishing company values is an doing the task are bringing
easy task; when those values their experience to the table.
get violated, its the response Secondly, if there are is-
SUV Tesla that makes all the difference. sues in the process, only the
Model X
What are the most impor- person working on it would

Murtaza Manji is an award-winning business coach and the founder of Kaizen Consulting, the first ActionCOACH firm in the Middle East. In the last six
years, he has worked with over 400 successful CEOs, directors and business owners from over 15 different industries in Dubai and London to achieve higher
profits, greater productivity from their teams, and sustainable growth by creating efficient systems and structures. Find him on Twitter @CoachMRM.

58 Entrepreneur july 2017

 Seeing the big picture
be able to identify them. Im- 3. I will then go down Why organizational culture (and employee communications)
agine a seven-minute process [] and perform the should matter to you By Alex Malouf
routinely taking nineteen same task that they
minutes to complete because perform Its remarkable what people be your most potent weapon
the software required always Talk is cheap. Walking the will say online, especially when it comes to building a
loads slowly- how would talk is a task only for true anonymously. Recently, I read strong reputation among your
anyone besides the operator leaders. a very long Reddit thread customers, potential employ-
of the program know to bring This statement is powerful about a very well publicized ees and the public.
that up? from multiple aspects. Firstly, startup based in the Gulf and Here are some suggestions
Thirdly, this creates an if the process is correct and its employment practices. Ive as to how you can help your
environment where people an injury was sustained due also been told about a new employees find their voice, and
can constructively criticize an to negligence or non-process app which lets prospective create a culture that people will
advised course of action. The reasons, the injured team employees talk to current staff, want to work in and talk about
process was set by a senior members reputation for and ask them anything, all positively:
manager, it was followed- and reliability will be questioned. anonymously. > See employee engage-
there was a mistake. Now a This helps ensure that every We live in a region where ment as a sincere attempt to
junior member of the team person does follow the pro- hierarchical structures are improve the organization (and
can sit with the CEO and out- cess properly. still well entrenched and a dont react defensively when
line what went wrong- and Conversely, unless someone top-down culture is the norm. you hear something you dont
advise what to change to keep wants to be known for being The CEOs word is sometimes like).
it from happening again. This the guy whose flawed process treated as gospel (I know of > Help everyone see the big
kind of openness is worth a nearly killed a team member one firm whose employees picture, and the value of their
fortune; but ironically, there and a CEO, each manager who arent even allowed to have so- individual contributions. Em-
is no way to buy and install it signs off on a process would cial media accounts, owing to ployees who feel they are part
into the company. You need probably be extra-careful in the instructions from up high). of the organization are more
to build this. carrying out their quality and However, its never been easier likely to speak up as they have
Lastly, and crucially: getting control checks. It was always for employees to electronically a vested interest in its success.
the team members -from eve- important to be careful- but share their views and thoughts > Make it safe for employees to
ry level in the hierarchy- to now its super important. on their employer, be they engage and speak up. Reward
be invested in the success of From the point of view of an good or bad, on both public those who have the courage to
the company is the best way onlooker, of course, there is and private channels. challenge standard procedures.
to guarantee success. Giving the feeling of safety and se- As a result, there are some > Teach management how
everyone a share of the profit curity that such a statement basic truths that we all need to to be exceptional listeners,
or equity in the company is evokes. To know that the CEO remember. Firstly, employees and how to best respond to
unrealistic, particularly for cares so much about me that are the soul of any organiza- constructive feedback.
SMEs. Giving everyone own- he would risk his own safety tion. Employees want to be > Teach employees how to
ership, on the other hand, is an extremely comforting heard, they want to share their make suggestions even when
is not only feasible, but also thought. views on what works and what they feel uncomfortable, or
recommended. People like to A semi-related, bonus doesnt work, so that they when others disagree with
be challenged, to be put to fourth: Elons vision is un- can improve their workplace. them.
the test, to be pushed. This wavering, and comes out in Employees who are engaged Use your organizational cul-
is a brilliant way to develop many different ways. Even the more, care more. Their produc- ture to inspire your employees.
leadership within every level start of the letter reminds the tivity increases, they believe in They, in turn, will inspire others
of the organization. team why they are doing what the organizations mission and through what they say about
they are doing: to make Tesla vision, and they give it their all. the company, its vision and
successful. This isnt about Employees who believe in leadership. Or, you could stick
putting the company above their employers are also an to the other status quo, and
the wellbeing of any person. organizations most potent see employee morale suffer
Its a reminder to each person voice externally. Theyll want due to a lack of engagement.
as to why they are part of the to talk about what they (and Ill wait to hear from you, or,
organization, and what the their employer) are doing, and even better, your employees,
goal of the company is. theyll look to promote their on what course youve decided
Elon Musk is just another work and the work of their to take for your organizational
person, and Tesla is just employer. Your people can culture and communications.
another company. They didnt
start with any significant
advantage, but built every Alex Malouf is a marketing communications executive who holds
the position of Corporate Communications Manager for the
element of their success Arabian Peninsula at Procter & Gamble. A journalist by training,
through focus, dedication and Alexs expertise spans communications and media, public
hard work. And that is what relations and marketing for both multinationals in the energy, technology and
Elon Musk
creates brilliance. FMCG space as well as several Gulf-based government institutions. Talk to him
on Twitter @alex_malouf.

july 2017 Entrepreneur 59

start it up ecosystem | whos got VC | Q&A | STARTUP FINANCE

We got funded!
HR tech company Bayzat
and hospitality startup blueground
on their latest fundraising wins
By Sindhu Hariharan

BAYZAT [Link] Talal Bayaa, co-founder and Bayzat office

CEO, Bayzat. Elaborating on
UAE-based technology the companys core offering,
startup Bayzat has raised he says the motivation to The funding will go towards TREP TALK
US$3 million in funding launch Bayzat came from a innovation and technology, Talal Bayaa, co-founder and
from undisclosed investors, need to give companies and and to improving [our] cur- CEO, Bayzat
taking the companys total individuals an opportunity rent products with added
amount of external financ- to understand insurance fine features and uses, says Based on your track
ing to $7.5 million in the prints without consulting Bayaa. record of raising funds in
last 24 months. As most their insurer, or HR. All of Though the Middle East the MENA region, what
MENA businesses (especially our features are designed has been relatively slow in would be your three top
SMEs) continue to rely on with a mobile audience in adopting cloud-based soft- tips for the regions start-
basic Microsoft Office tools mind, who dont have time ware and other technology ups to pitch and clinch
to manage their Human to read through pages of in HR compared to other funding?
Resource (HR) tasks, Bayzat policy to find the necessary regions, HR tech is an area [Firstly], know the problem
aims to offer a fairly simple info they need to utilize their that has seen considerable youre trying to solve bet-
and more efficient alternate insurance, he adds. entrepreneurial action with ter than anyone else. This
to streamline processes startups like Compareit4me. means understanding the
such as leave management, Talal Bayaa, com, Visage, and others finer nuances as well as the
co-founder and
payroll, employee record CEO, Bayzat
being a few offering similar strategic trends. You also
maintenance etc. Originally services. In a highly com- need to have an objective
launching as a tech platform petitive space such as this, and analytical understanding
for financial advice and its safe to say that besides of the size and scale of the
health insurance in the UAE, solving a problem, entre- problem. [Second], be ready
the startup then focused its preneurs also need to solve for rejection. You need to
offerings on insurance, and it better than competitors. meet as many potential in-
then recently diversified into Bayzat seems to be cognizant vestors as possible to enable
automation of HR manage- of this, and says its constant you to continuously refine
ment. Bayzat says recent In its endeavor to utilize focus and investment on and improve your pitch.
UAE government decisions technology to disrupt the R&D is its differentiation Most will say no, but thats
making employee health way regional companies factor. If we can find a way how you improve. If some-
insurance mandatory has manage HR operations, to automate any process that one is not interested, make
helped the company decide Bayzat has been supported will be seen as a great added sure you ask them a lot of
on its business strategy, and by an enviable list of back- value for policy holders or questions to see what you
has led to a spike in business ers. In an earlier funding HR professionals, we look can learn from the rejection
(the company says it has round in 2016, regional tech into it, says Bayaa. Since - and dont take it personally.
seen 350% revenue growth investor BECO Capital along the launch of its integrated [Finally], be yourself. Starting
and grown its workforce with Precinct Partners, HRMS solution Bayzat Ben- and growing a company
Bayzat office image credit Horton Tech | talal bayaa image credit bayzat

from 12 to over 50 employ- RAED Ventures, Delta Part- efits, Bayzat says it has con- is a monumental task, so
ees in 2017). ners Group and WOMENA nected over 12,000 individu- you need to have partners
HR departments spend invested $3.5 million in als in the region with health who have the same values
over 70% of their time doing Bayzat. Bayzat also raised insurance, and has registered you do, otherwise, youll
admin work and answering AED3.67 million from a over 50,000 monthly visits just make things harder on
questions about company group of private investors from those enquiring about yourself than they already
benefits. HRMS [HR man- earlier in 2015. With these insurance plans. Among the are. Dont tell investors only
agement solutions] like investments, and with the list of prominent regional what they want to hear; the
Bayzat Benefit processes a current financing, Bayzat companies that use Bayzats process should be a healthy
bulk of this work, giving HR believes it is now better HR solutions are Deliveroo, debate so that both parties
more time to focus on other equipped to handle bur- Fetchr, MumzWorld, MacK- can learn from one another
areas of the business that geoning demands for their enzie Jones, Propertyfinder. and gauge the chemistry.
cant be automated, says insurance and HR software. ae, Bayut, and others.

60 Entrepreneur july 2017

 BLUEGROUND trusted them with their
[Link] properties, and at the same
time, it has had an enviable
As a consultant with a and steady record when it
top-tier consulting firm comes to raising external
for over seven years (and a funds. The startup closed
frequent business traveler pre-seed funding in April
as a result), blueground co- 2015, raising approximately
founder and CEO Alexandros US$260,000 from angel
Chatzielftheriou lived out of investors and National Bank
A blueground
hotels in Europe, Africa and of Greeces seed fund; raised property in Dubai
Asia, for stretches of 1-12 a $1.5 million seed round led
months at a time for five by the European fund Ven-
years. Based on this experi- tureFriends in January 2016, countrys home-sharing TREP TALK
ence, when Chatzielftheriou and most recently, in April industry continues to have Alexandros Chatzielftheriou,
decided to turn to entrepre- 2017, raised an additional stringent regulations, and co-founder and CEO,
neurship, he launched hospi- $5.8 million in a Series A nevertheless, Chatzielfthe- blueground
tality startup blueground, funding, again led by Ven- riou strongly believes in the
that uses technology to con- tureFriends, along with the regions growth potential. What is your advice for
nect executives, expats, and participation of Endeavor Specifically, on the demand entrepreneurs pitching their
other travelers with fully Catalyst and Jabbar Internet side, Dubai is an important startup to investors?
furnished apartments for group. business hub with a large Pitches are an essential part
mid- to long-term stays, and Having started operations number of expats and visit- of entrepreneurs lives. During
simultaneously makes it easy in Greece, and now active ing business professionals. my four-year journey building
for property owners to rent in the UAE and Turkey, the On the supply side, Dubais blueground, Ive raised three
their spaces to such custom- company now plans to ex- developed real estate mar- rounds of venture capital
ers. Further, the company pand operations in Europe, ket, and advanced regulatory financing and here are some
goes beyond being just an Middle East and Asia. In framework around residen- of the things I learned. [First],
aggregator, and undertakes terms of the road ahead for tial property rentals was also get ready to hear many Nos-
interior design, furnishing, blueground, Chatzielftheriou a big plus for our decision this should not discourage
and property management says, For the next 15-18 to enter the market, he you. Through this process,
services to ensure properties months specifically, we have adds. In the nine months try to get as much feedback
on offer are tastefully deco- three key milestones to since it has entered the city, as possible, so that you keep
rated as well. deliver on: sustain the same blueground says it has, at improving your pitching. Very
Since its launch in April strong growth momentum, the time of writing, 65 active often, there is a lack of fit
2013, blueground has hosted develop further our product units in Dubai. between the investors invest-
thousands of professionals and technology, and expand With respect to the cur- ment thesis and your business,
globally, making corporate in one more market. Being a rent fundraising round, so dont take the rejection
business trips and reloca- key global business destina- blueground says its meetings personal. [Second], talk to as
tions an easy experience, tion, the UAE (especially with multiple angel inves- many investors as possible, but
and counts Coca-Cola, H&M, Dubai) market has been a tors, family offices, and VC consciously invest your time to
Panasonic, Novo Nordisk, logical expansion decision funds bore fruit as seven those that you see a better fit
LG and IKEA as some of its for the startup. Despite new investors participated with and interest in your busi-
clients. The startup says policy decisions making in the round, along with ness. [Third], dont reach out to
more than 400 owners have Airbnb legal in 2016, the existing investors. We investors for investment until
specifically targeted UAE- you get substantial traction
based investors, and are very either in terms of revenue or
happy that Jabbar Internet numbers of users (depending
Group decided to participate on your business model)
in this round of fundrais- [Finally], make sure you know
ing, given their successful your market size and unit eco-
track record in investments nomics: the more clarity you
and exits, Chatzielftheriou have on these, the more confi-
says. VentureFriends and dence you give to the investors
Endeavor were particularly that you understand the key
helpful during this process, drivers of the business. If the
as they introduced us to unit economics, for example,
images courtesy blueground

many investors and, in this are not there yet, it would be

way, made it a lot more ef- good to explain how you can
Alexandros ficient and effective than it get there.
Chatzieleftheriou, would have been otherwise.
co-founder and CEO,
blueground

july 2017 Entrepreneur 61

start it up ecosystem | whos got VC | Q&A | STARTUP FINANCE

can as quickly as you can or feedback early, you may

risk running out of money. need to devise beta groups
At CarSwitch, our vision to manage disappointing
is to give buyers enough early visitors. But remember:
transparency and trust to real feedback trumps
buy a car online sight unseen: conceptual research any day.
an e-commerce experience CarSwitch, for instance, is
that ties in online feature running at least five different
and price comparisons, total experiments at any given
cost of ownership lens from time- they are controlled,
financing to insurance, and closely monitored, and rapidly
much, much more. It would integrated. We develop
probably take a year or two to new features and services,
build that kind of platform, their pricing, and how to
and so we broke it down to, deliver through real-time
say, lets start with telling you learning. It is naturally risky
Kitchen Nation, everything about the specifics to operate this way at scale,
JLT, Dubai
Taking off of the car youre looking at,
from its condition, to pictures
but controlling delivery to
accepting smaller groups of
From concept to launch in 60 days- of every scratch, and take it customers can be incredibly
from there. powerful.
the co-founders of CarSwitch explain how they did it
By Imad Hammad and Ali Malik 3. Work backwards, and 5. Keep the end-state
set firm deadlines aspiration always in

T
he startup scene is days- here are the five pillars When the vision of CarSwitch mind
bubbling in the region, that we used to build our was being drawn on a With many moving pieces,
and Dubai specifically, enterprise: whiteboard in Jan 2016, there small teams, and incredible
with several was a moment where we took pressure to deliver, it can be
ventures announcing 1. People, people, people- a step back and declared (to straining to remain steady
fundraising from global with little cash, what ourselves) that the website in one direction. Given this
players in recent months, else do you have? must go live in March. The scenario, the importance
with this enviable list of Committed, driven, and company didnt exist yet, of having an end-state
enterprises including names well-placed co-founders are there were no customers to aspiration in mind cannot be
like Careem, Fetchr, The the starting point. Its quite sell cars to, no mechanics to understated. Yes, you have
Luxury Closet, ServiceMarket, difficult to afford, or find, the inspect, no website to host, financial obligations to meet,
Mumzworld, CarSwitch and right people for every task, heck, the company name but ultimately your customers
lots more. With this being and so you need to tag team wasnt even clear yet! But determine your success, and
the case, it makes sense to the venture with co-founders while the date was arbitrary, unless you have unwavering
take a closer look into the that are willing to roll-up it did put a stick in the determination to deliver a
key ingredients that led their sleeves and do whatever ground for our business- a proposition that surpasses
these startups to success- it takes to get it done. In our non-negotiable deadline that their expectations and needs,
how do these cash-strapped case, as co-founders, the two must be met. The work that the sustainability of your
ventures manage to survive of us did everything from followed pivoted around venture is questionable.
and flourish? And, perhaps being actors in CarSwitchs the date: we stripped down As entrepreneurs, we are
most importantly, where homepage video, we handheld our aspirations, and looked undoubtedly facing some
does one start! As the co- the first 40 cars on the site at what was the absolute of the most challenging
founders of CarSwitch, a from inspection through minimum required to take experiences of our
UAE-based used-car market to RTA transfer, and even off- and the rest can follow. professional lives, and
place that managed to raise playing call center roles in the This provided the framework overcoming incredible feats to
US$1.3 million in under a wee hours of the night when for a MVP (minimum viable deliver innovative experiences
year, we wanted to share capacity was short! product), and enabled us to to unsuspecting consumers.
a few of the fundamentals bring something to market in But these efforts undoubtedly
(proposition, timing, and 2. Launch and iterate less than 60 days. make our lives easier,
relevance) that helped us Its crucial to have an more enjoyable, and propel
get to where we are today. In end-state vision in mind 4. Dont be afraid to the economy forward in
a hyper competitive space that delivers the dream change- listen to your surprising ways- and hence,
(and with limited capital), we proposition, but unless youre customers, and adapt we need to see more of these
managed to launch CarSwitch Apple, you have to break it Launching quickly gives in the region. Onward and
from concept to launch in 60 down and launch what you opportunity to hear customer upward, treps!

Imad Hammad and Ali Malik are the co-founders of CarSwitch. Founded in 2016, CarSwitch is a UAE technology platform providing an
innovative customer-centric service that completely reinvents the painful process of buying or selling used cars. CarSwitch offers buyers
and sellers better prices through direct seller-to-buyer deals, complete transparency and peace of mind through a proprietary 200-point
inspection and guaranteed warranty for every car, and a completely hassle-free experience by taking care of every step of the process.

62 Entrepreneur july 2017

 advertorial

price of the products

whereas interest rates
and inflation determine
Managing the availability of the
resources and price
your personal stability of the products.

finances
When producers fix
prices of their products
on the above two
By Dr. Mahesh Agnihotri, Associate Professor
and Dr. Wilson Gachiri, Assistant Professor, factors of demand and
Skyline University College, Sharjah supply and interest
rates, the consumers
Life is all about making ends meet. This is and the general public Dr. Mahesh Agnihotri and Dr. Wilson Gachiri
particularly true in case of a common man are affected as well.
with a meagre income to meet his family The mantra for a common man is to Real estate
expenses. Needless to say, everyone is keep an eye on the interest rates, Investing in real estate has been proven to
engulfed in the vagaries of economy. A good likely to go up or down or anticipate be the best way to cushion against inflation
understanding and practice of interest rates, the likely demand and supply of the cycles. When planning for future expenses
demand and supply helps an individual to products they plan to buy. Both in for example retirement, the financial
nullify the ill effects of the economy. the short term and in the long run. lifestyle desired in the retirement years
This article is an attempt to show the depends on first, the financial and assets
importance and impact of interest rates, Stock markets accumulated over the time. Secondly, how
demand and supply and inflation in our daily Stock markets behave on the fast the spending on those funds are during
lives and in the days to come. Interest rates announcement of interest rates by the retirement. In cases where inflation rates
are the rates charged for the use of money. Central Bank or Federal Bank. The moment are above 3 % it could be an indicator of
Bank charge interest rates for advancing financial markets receive the news that worse things to come and thus concrete
loans. Interest rates fluctuate anywhere the interest rates have changed, the stock investments should be taken to insulate
and everywhere. Demand and supply are prices also react soon. A signal to either against drop in ones purchasing power.
interdependent in any economy for that invest or dispose the stocks and shares. As is in previous decades, there is a high
matter. Whilst inflation is the increase in There is an inverse relationship between probability that inflation rate is more
value of goods and services over time. bond prices and interest rates. The likely to rise over the next several decades
Although these two terms/concepts demand for and supply of funds directly than it is to fall. Some costs for example
affect every one, rich or poor, old or depends on the interest rates. Even the education expenses are likely to increase
young, males or females, but in this stock prices depend not only on the while others like healthcare expenses
write-up, the focus is restricted to the interest rates but also on the demand ultimately increase as one advances in
following companies/organizations: for and the supply of the same. age. Steps should be taken to protect ones
1. Producers/manufacturing companies The mantra therefore is to wait for finances just in case the inflation rate rises
2. Stock markets the interest rates to fall to invest depleting the acquired assets at a faster
3. Colleges and Universities in bonds, and sell when the interest rate than had been planned. Investing
4. Real Estate Holdings rates have gone up to book the profits. in real estate provides the next best
With regard to the equities, the same alternative as a buffer against the expected
Producers principle can also be applied. price shocks. Returns from real estate
Producers make products depending on have been shown to appreciate over time
the demand assessed by them for their Colleges and universities when compared to other financial assets.
products. All the factors of production used In the existing education industry scenario,
by these producers are subjected to demand the owners of the colleges and universities Conclusion
for and supply and interest rates prevailing expect more and more students to join It can be stated that the interest rates
in the market. The financial resources used their institutions. In view of the perfect can make a difference in the borrowing
by them are also subjected to the interest competition, their revenues in the form habits of the human beings, particularly
rates and inflation tendencies that in of fees depend on the number of other the common man, whether it is a case
turn again depend in the demand for and colleges and universities existing in the of buying a home or a car or an iPhone.
supply of funds in the financial market. region. This goes well for students as A good anticipation of the demand and
Important factors of production or resources well, as they have an opportunity to supply of the major items and the interest
available to individuals and companies join other colleges and universities. rates likely to follow will enable a common
determine income and expenditure The prospective employees looking for to thwart the vagaries of the economy.
patterns. Labor, for example employed employment in these colleges, can expect Inflation as observed is one of the financial
need to be remunerated depending on their jobs and the remuneration on the facts of life. Since it is in most cases
the demand and supply of labor in the basis of the number of candidates are difficult to control and predict its impact
labor market. Rent for the building used seeking employment and the number of in the long term, it is not only important
for business, also is subjected to the vacancies available for the same position. to recognize and be aware of inflation but
demand for such building and supply of The mantra for students, is to take up the also crucial to take steps in protecting
the same. The raw material they purchase programs which have a great demand in your finances just in case the inflation rate
are available in the market depending on future. This requires understating of the rises unpredictably. Investing in property
the demand and supply of the same. job market which includes the demand or real estate provides a hedge against
Demand and supply hence dictates the final for and supply of lucrative positions. unanticipated inflation in the long term.

july 2017 Entrepreneur 63

 Disrupting
the culinary
world
[THE HOW-TO]
Turning a passion for food into a successful business
By Tamara Pupic

Disruptive innovation is a common theme across many, if not all, industry sectors nowadays. As in many other cases,
the culinary world has also witnessed its rules being rewritten, with many chefs from around the world building their own enterprises
to conquer the dining sector. So, how are they going about doing this? We asked some chefs who have embarked
on such entrepreneurial endeavors in the MENA region to tell us their stories.

Jason Atherton to be completely self-minded cheese, and the guests go losing your business, family,
Founder and owner, and focused on wanting crazy and its amazing, you and homes all because you
The Social Company to become greater at what end up adding more truf- want to chase greatness. You
(Marina Social, Dubai) you do. And if you have all fles, but then you look at the shouldnt force greatness.
[Link] of those, follow them, work balance, and you realize you If you put out your talent,
[Link] very hard, and then theres didnt charge them enough. for sure youll shine anyway
a good chance you can get to The biggest thing I can which means you shouldnt
Patience is number one the top And you do need a advise is never ever sacrifice push so hard and put the
when it comes to becoming little bit of talent. the restaurants profitability business at the back end. Ive
a great chef. You have to be for your own ego, because seen so many chefs do that
patient because it takes a How do you turn a passion you can be the greatest chef in pursuit of being one of the
long time. It actually took for food into a profitable in the world but end up top chefs on the planet.
me about 20 years before I business?
could execute it properly. One of the biggest compli- Jason Atherton,
Second, you have to have ments people pay to our founder and owner,
the mindset to look at the business, and to me as a The Social Company
work not as a job, but as chef, is that there are only a
a lifestyle, so you have to few chefs who can convert
switch the mindset from their passion for food into
calling your job a job, and a business, because nor-
making it a lifestyle choice mally, the two dont go hand
instead. Third, you have in hand. Chefs go by their
to work hard, because it is heads, so when, lets say,
really hard work. You have you cook white truffles and

64 Entrepreneur july 2017

 However, there are some who
are addicted to being over
entrepreneurial. I opened
up around 17 restaurants in
six years, I got to that point
where I knew I had to stop
and train myself to say no.
It was very difficult because
of the success of these
restaurants. Once I opened
Marina Social here in Dubai,
I was offered up to six new
restaurants in just two years.
The thing is, I can only be
in Dubai for so much time,
and if I get greedy, Ill end up
with five or six restaurants
that are average instead of
having one restaurant that is
great and that will only get
better over the years and not
close up like so many other
Jason Atherton,
restaurants in Dubai. founder and owner,
The Social Company
How have you gone
about putting a good
team together for your dish becomes, the riskier it you are a good leader so they TREP TALK
enterprise? is to put that on the menu. would want to give you their Jason Athertons
If Im honest, our expansion If it takes a lot of prepara- 120%, not just a hundred. dos and donts
is only because we have so tion, will the staff be able for running a business
much talent in this company to execute it the same way What are some of the
that if they hadnt been and level when you are not trends you expect in this DO
given the outlet to put out around? Will they be able to sector in the future? Create a family atmosphere
their creativity, they would make sure that its perfect Two years ago, the boom with your team.
have left. I wanted to cre- every time considering its of the takeaway came back Work only with people you like
ate opportunities for them, cost for patrons? Are you and is big in Dubai, London, to be around with, because life
hence making ourselves better off taking off a few ele- New York, and so on. The is too short.
commercially available was ments away to make it easier so-called rent-a-chef options Maintain a positive attitude
a natural choice. The first for the staff to execute? Its are a great way for a chef to always.
thing I ask my chefs includ- the same thought process start. If you get noticed and
ing Tristin Farmer, the Chef when it comes to entrepre- show what you can do, then DONT
Patron at Marina Social, and neurship in this industry. why not? When it comes to ...take on debts. Just be careful
all my other chefs in London However, its great to look technology -robots, artificial to not take on too much debts.
or Sydney, is, Would a non- at the positive side of what intelligence and so on- I can I run my business within the
foodie enjoy this dish? If you do and strength of your say that there will always cash flow.
they think that people who team, but its also important be some sort of machinery ...over expand. You need to
just simply want to go out to look at their weaknesses. but you can never replace know when enough is enough
and have a nice time with I help through my training a human. You cannot train Ignore your gut feelings. Always
their friends and family courses, and guide them on a robot. The human palate trust your instincts
would say, Its delicious what they are struggling and the tongue have so much
and looks great, and if it is with. I always recommend sensitivity attached to it that
a profitable dish, then by all spending time with your a robot doesnt. How can you are more interested in know-
means put it on the menu. team and have them feel train them to know when a ing where their vegetables
These are the majority of our like they are part of a bigger dish is too spicy? Its never are grown, what soil is used,
diners, and we make sure we thing. Being loyal to your going to happen as they dont what their fish is being fed.
cater to them. team is just as important as also have creative minds. The next generation of chefs
IMAGEs COURTESY the social company

So, you have to be able to them being loyal to you. if Food is all about emotions. will need to be more savvy
manage risks. For example, you are not creating loyalty, Weve come full circle as diners are becoming more
when you are creating a dish you will not last very long. on simplicity. People are and more skeptical and
in the kitchen, it is a risk and You have to inspire them starting to understand more inquisitive of the food they
a reward. The fancier that to make people believe that about sustainability. People consume.

july 2017 Entrepreneur 65

 Alexis Couquelet, Partner, Building a successful team is not easy. It takes years of
The Alleyway Group,
and Group Executive Chef,
experience managing, understanding the human condition,
Couqley and building respect between team members themselves
and with the management. Couqley is more than just a
restaurant, it is a family. My success and the success of chefs
around the world can be attributed to their teams.
perceived as commercial. a restaurant, it is a family.
In addition, I rely on the My success and the success
following three pillars. of chefs around the world
Firstly, noble ingredients can be attributed to their
since a chef must always teams. Being behind the
find the best raw materials scenes in the kitchen is very
possible. For me, it is not different than what we see
only important to get a good on TV these days. There is
deal on the items purchased so much pressure on the
for my business, but I must kitchen during service hours,
ensure the best tasting and and thus time for creativity
the highest quality ingredi- is minimal. The kitchen is
ents. Secondly, food waste the engine of a restaurant,
management. After securing and the engine never stops.
a consistent supply chain of During down times, however,
high-quality produce, I make I like to challenge my chefs
certain to use as much of the and let them develop dishes
produce in my dishes as pos- that they think would be
sible. Thirdly, star dishes are loved by our diners.
important because a chefs
creativity is revealed through What are some of the
the execution and presenta- trends you expect in this
tion of a dish. A chefs busi- sector in the future?
ness acumen will be meas- I wouldnt say that tech-
ured by the performance of nology has revolutionized
that dish. At Couqley, one of the culinary world (yet),
my star dishes is the Steak especially in a full-service
Frites. Its a dish I created restaurant format. However,
many years ago using high technology has advanced the
Alexis Couquelet tasks at once, continuously quality beef filet, beautiful restaurant industry and has
Partner, The Alleyway Group, and motivating your team, and and consistently good French made it more efficient. Even
Group Executive Chef, Couqley being cost-effective. fries, and it is served in my with robots and artificial
[Link] special Couqley Sauce. Our intelligence, you still need a
[Link] How do you turn a passion three Couqley restaurants creator, a visionary, to devel-
for food into a profitable [Couqley Gemmayze Beirut, op the taste and smells and
To climb to the top of the business? Couqley Blueberry Square flavors of a dish, something
chef profession, I believe it is I found my balance, because Beirut, and Couqley UAE] technology cant do (yet).
extremely important to have I was lucky enough to work sell more than 55,000 Steak On that note, technology has
passion for what you do. with great partners and Frites per year. made the execution process
Passion leads to dedication build a fantastic team who of food (cooking), cheaper
and devotion, which every share our common vision. How have you gone and more efficient, especially
chef should possess to suc- My personal culinary vision about putting a good in the fast food and quick
ceed. A chef must also be cre- for Couqley is to transport team together for your service formats.
ative to constantly improve customers into a great au- enterprise? We believe a big trend in
recipes and menus. This is thentic bistro tucked away Building a successful team the culinary world is the
an integral part of business in the tiny streets of Paris. is not easy. It takes years focus on healthy food con-
that keeps customers coming If you visit Couqley you will of experience managing, cepts, a.k.a. farm-to-table.
back. Business skills and feel this cozy ambience in understanding the human We see more restaurants
organizational skills set a our dining room and you condition, and building trying to source organic,
good chef apart from the will experience authentic respect between team locally grown products to
pack. Being at the top of the French cuisine. In my eyes, members themselves and create healthy menu options.
chef profession requires the Couqleys authentic experi- with the management. Another growing trend is
ability to work on multiple ence sets us apart from being Couqley is more than just street food, or street-food-

66 Entrepreneur july 2017

 Roberto Segura,
Chef and co-founder,
3 Hospitality

chic. Street food festivals, Roberto Segura their CV since I look into the
night markets, food trucks, Chef and co-founder, personality of each individual.
and food halls are becoming 3 Hospitality (Waka Restaurant In hospitality, you spend more
popular and ethnic street and Craft Caf) time at work than in your
food has exploded on to the [Link] | [Link] house which means that you
culinary scene. So much of have to have a good relation-
our daily lives are on the go, Personally, I am a detail- ship with your co-workers
so that trends, such as street oriented perfectionist, and and try to create a family
food and healthy street food, it is very important for me that moves together towards
will not be going away any- to ensure the process and only one goal- making people
time soon. respect of the produce that happy with what we have to
we use since the quality of offer. My approach is very
products is always the most simple -in order to prevent
important in the kitchen. any kind of problems inside
the restaurant- and it is zero
How do you turn a passion tolerance for gossip. All my
for food into a profitable team members know that the a lot to create standards and
business? worst thing they can do is to maintain consistency in the
For me, passion drives a hos- talk behind someones back food offering. Waka kitchen
pitality business, and without since that could be the end of is a laboratory and it is full
this key factor nothing will go our relationship at work. of this kind of equipment.
well, from the kitchen, which External sabotage or Lastly, I believe that casual
Ziad Kamel, is the heart of the restaurant, obstruction will always be restaurants and industrial
co-founder and Managing all the way to the front of there, and the only way to concepts are top trends at the
Director, Couqley house and bar. The second combat this is to remain firm moment.
point is to set your prices on our values and to maintain
TREP TALK properly, but in order to be the achieved standard and
profitable you dont need to consistency in our service
Couqley co-founder be expensive. People in the and food. There are many
TREP TALK
and Managing Director market are looking for great challenges in the kitchen and Roberto Seguras dos and
Ziad Kamels dos and quality at an affordable price a lot of pressure too. In many donts for runningJason
a business
Atherton,
donts for running and that is exactly what we cases when the restaurant is founder and owner,
a business offer. Thirdly, you need to full, there is always a special DO The Social Company
respect the local palate, you request due to allergies, Stick to your roots and values,
DO have to understand the citys intolerance or just a guests but do understand the local
Have a solid understanding of local tastes and what food preference, but we have a market you operate in.
the business of restaurants. makes Dubai a unique culi- policy to please everyone and Always set standards and main-
Invest enough time to build a nary destination. As a chef the kitchen knows it well. tain consistency.
solid, well-trained, and loyal you sometimes just want to Go out of the kitchen from time
team. cook what you like, but here What are some of the to time, there is actually a world
Know how important a you have to mix a bit with the trends you expect in this outside!
comprehensive marketing iconic ingredients that people sector in the future?
strategy is for building top- like in Dubai. When it comes to rent-a- DONT
of-mind brand awareness and Apart from being one of the chef online platforms, I actu- believe everything people say.
driving customers to your partners, my position in our ally am a part of the team of think you are a super star.
restaurant. restaurants is always to be in- Chef Exchange, and I love it. I try to please everyone.
volved in every single aspect really enjoy going and cooking Understand that this market
DONT of the business. Although the for a private group of foodies is so diverse and multicultural,
... expect your restaurant kitchen is my comfort zone, from time to time. Regarding so just be sure of what you are
to become successful only I can often be seen outside technological advancement, I doing and do it right. People will
because the food is good. serving tables, making cock- believe that technology helps appreciate that.
expect that hiring a highly- tails in the bar or talking to
paid executive chef means the guests, because this is
that your kitchen will run what I love to do.
smoothly.
IMAGEs COURTESY couquely / 3 hospitality

be impatient, there are How have you gone

no shortcuts. Building a about putting a good
successful restaurant brand team together for your
requires time, dedication, enterprise?
sacrifice, and perseverance. When I interview someone
for my team, I barely look at
Waka Restaurant
Disrupting
the culinary
world
of their YouTube channel per market trends and consumer
Alia Adi month and nearly 200,000 needs in the food industry
Founder and CEO, Basmaty subscribers. Over the past change regularly due to vari-
[Link] five years, Basmaty has grown ous factors, such as health-
into one of the leading cook- related findings. The challenge Alia Adi, founder
Alia Adi is the founder of ing platforms in Arabic, Adi is to be able to predict those and CEO, Basmaty
Basmaty, an Arabic website says. It has recently evolved trends and adapt quickly.
featuring Middle Eastern into the first online food Across the MENA region, this
recipes. Born and raised in network in the region with the is even more true for the UAE TREP TALK
Switzerland, the Syrian no- aim of identifying and sup- due to the high exposure of Alia Adis dos and donts
ticed a gap in the market for porting food talents in MENA. diverse cuisines and people. for running a business
online food recipes in Arabic So not only does Basmaty pro- It isnt always easy to com-
and launched Basmaty (my duce its own content, but it is bine both commercial aspect DO
smile in Arabic) in Damas- also aggregating content from and culinary vision and they Keep learning and evolving.
cus in 2011. Her four-strong food talents, helping them sometimes find themselves Identify collaboration
team used to produce around with more exposure, techni- in contradiction. The way opportunities that will help
100 Arabic-language cook- cal and creative assistance. I addressed this occasional add more value to your
ing videos a month from The business model is based conflict is through diversify- business and increase your
their studio in Damascus. In on advertising and sponsor- ing my content and launch- exposure.
the civil war causing her to ships. Ive worked with major ing different channels under Always evaluate feedback
flee Syria, Adi spent a year brands in creating content the Basmaty network, each from the market and do the
in London, being trained in for them to be featured on having a different positioning. necessary changes, if needed.
video production at YouTube, Basmaty, and the platforms For example, I am sometimes
before coming to Dubai to USP is clearly related to the approached by brands which DONT
establish her company (for fact that it is the only online dont necessarily fit within launch a product or service
the second time) at in5. Hav- food network in the region, my culinary vision as a chef, without a proper market
ing to move my business from offering access to talented however, I understand that study.
Syria to Dubai and learning all people. As a network, Basmaty my platform needs to cater get comfortable doing
the technical skills related to has the potential to grow on a to different needs and avoid what you do because the
video production in order to very large scale by integrating missing commercial oppor- market needs in the food
keep my business afloat, as I more and more talent into the tunities. The best way for me sector are in constant change.
had lost my team, was really platform. to balance between the two spread yourself too thin by
challenging. Furthermore, was simply to create a new wanting to do too much at
working alone for two years How do you turn a passion channel under my network the same time. Focus!
was a huge struggle for me but for food into a profitable which aligned perfectly with
I was determined not to give business? my culinary vision without
up, she says. Today, Basmaty You need to have a clear compromising any commer- chef and allows me to work
has grown into an online food understanding of the market cial viability of my platform. specifically with the brands
network that houses cook- in terms of needs and trends I launched a channel called that fit within my vision while
ing content from all over the since food is a domain that Delish by Alia which repre- at the same time working with
region, with one million views is in constant evolution. The sents my culinary vision as a other brands on Basmaty.

ago. Top Chef is a family-run petition is a good thing, it

Nadira
Nadira Benaissa Benaissa boutique studio business, not forces you to be always at the
Founder and Managing Director, one of those huge concepts top and give the best of your-
Top Chef Cooking Studio or chains whose main focus self, she says. The real issue
[Link] is to make profit. We should is the unfair/disloyal competi-
never forget what made us tion. We are not protected at
Following her successful create this place initially, we all against it and it strongly
career as a senior real estate are a passionate team focused affects our business. The oth-
executive in Dubai, Nadira on transmitting knowledge to er problem we face, especially
Benaissa founded Top Chef others. here in Dubai, is that people
Cooking Studio in Dubai in Top Chef offers a range of copy almost all the ideas you
images courtesy basmaty | top chef cooking studio

2012, after spotting a gap cooking could be accessi- tailor-made cooking classes can come up with. Somehow,
in the market for a cooking ble to anyone and cooking for adults and children as well it is a good sign since it means
studio that was a bit dif- classes have become a trend as private culinary functions, that you are doing something
ferent; even though many over the last past 10 years, such as fun private parties or right and people like it. The
restaurants and institutions she says. However, getting creative corporate events. It most important is that you
were offering cooking classes, people to know about us is dealing with a certain type did it first. The first ones
she explains. People have and understand our concept of competitor that Benaissa never follow, creative people
recently discovered that was not easy at all five years finds most challenging. Com- will always be inspired.

68 Entrepreneur july 2017

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DISCOVER HOW TO ACCELERATE YOUR BUSINESS

Powered by Thomson Reuters, Accelerate SME is the gateway to the
SME ecosystem in MENA; providing access to the resources and solutions
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Disrupting
the culinary
world

Consumers have always, and But more recently, it seems

still want, the same thing- that people really like deliv-
they want great food and great ery, which makes sense. The
service, but theres a new pizza industry as an exam-
sheriff in town: convenience, ple, has been doing this for
and their deputy is choice years but maybe people
and speed. People are time want something different than
poor. Increasing urbanization, pizza once in a while. There is

Going
social media and connectiv- the realization that delivery
ity and access have given the is important to consumers
consumer not only a seat at and the tech sector responds

deep
the table, but they now really with third-party delivery. This
know they are the ones paying presents a challenge as the
the check. The consumer is logistics behind delivery can

on food
in control, but wants more. be difficult. Companies like
Enter the disruptor, hear- Postmates started cropping up
ing the demands of todays in the US, then Deliveroo, and

tech
consumer and answering with the more recent contender,
vigor hello food technol- Uber Eats and Amazon Prime.
ogy, hello convenience, hello So, we now have a landslide
A look at digital disruption choice. In business, we say of consumers taking advan-
that the customer is always tage of all of this new conveni-
in the F&B industry right, which has never been ence and choice. It is irrevers-
By Ian Ohan truer than today. ible and will only continue to
Ten years ago, technology grow. In the UK, for example,
answered it allowed people nearly half of all Brits have
The restaurant industrys The food service industry to order online and also gave had a food delivery in the past
response will begin to is one of the largest indus- them choice. Enter the food year. Most food service sec-
accelerate with broader
tries in the world and, in my aggregators. They charge tors globally are operating at
depth, commoditizing
food tech, making the view, one of the least pre- merchants between 5% and an online order/delivery rate
marketplace more pared in terms of embracing 10% for each transaction of low to mid-single digits
competitive and will place technology. It left its doors yes, the industry and leaving lots of headroom.
even greater pressure on wide open, ripe for disrup- the consumers like this. Restaurants of all kinds must
the food tech companies. tion. It is in good company For the industry, its easy now reconsider their offer-
payments, airlines, hotels, money, free marketing and ing, consumers want to order
retailers also failed to see it, it doesnt have to worry online and they want delivery.
perhaps choosing not to see about scary technology It is important to remember
the quantum shifts in the way thank you, technology. For that online orders do not
the world works, fundamen- consumers, they get choice generally represent market
tal paradigm shifts, which and convenience. Investment growth, rather a reallocation
in hindsight, are obvious to pours into the sector, tech in what and how people are
those who cared to look. The companies that are worth eating quite plainly, people
ground shook beneath our billions are born its a win- are not eating more.
feet, and many missed it. win, right? Unprepared merchants feel
they have no choice but to
use these services but is this
good for them? The answer
is somewhat of a mixed bag,
and the jury is still out. On
the plus side, restaurants that
do not have access to online
delivery get what the tech
companies sell to merchants
[Link] | [Link]

as incremental business
business that you would not
have gotten otherwise. As it
is an extra, businesses need
to be prepared to pay third
parties between 20% to 30%
of the order as a commission

70 Entrepreneur july 2017

 Disrupting
the culinary
world

Restaurants of all kinds must now

is the prize, the merchants
reconsider their offering, consumers
are the pawns, or put in a
more pedestrian way, the want to order online and they want
bait. This is a fundamental delivery. It is important to remember
misalignment of interests. that online orders do not generally
Google any restaurant in represent market growth, rather a
Dubai and see which food
tech companys banner ad
reallocation in what and how people
comes up before the mer- are eating quite plainly, people are
chants own site. To attract not eating more.
more customers on their
platform, food aggregators however, it is interesting to consider
will pressure merchants why a tech company is exposing itself
to offer discounts or lose to the world of bricks and mortar, the
business to their competi- very antithesis of its focused digital
tors who are also offering and asset-light strategy. One sugges-
discounts on the platform a tion is that they are taking on real es-
sort of gladiator type arena tate and the associated liabilities in a
where merchants are pitted bid to stay ahead of their competitors
against each other to sway and grasp at one more rung of the res-
business in benefit of the taurant value chain. What is concern-
for the delivery. So, on an order of aggregator. Another tactic is visibility ing is that they are likely doing this
say AED100, the delivery company and retargeting services allowing because they feel they must to protect
takes between AED25 to 30 from the merchants to pay to retarget custom- their business model, margins and
merchant and another AED7 from ers who patronize other merchants competitive positioning. It is perhaps
the consumer. The other issue with on their platform. In a downward and logical that the next step would be
the notion of incremental business is sluggish economy, this creates a kill to start to invest in the businesses of
that it assumes that an online order box for weak merchants, that could food and beverage tenants in effect,
is new business to the system, either be seen as a service or a detri- become the merchants themselves. >>>
i.e. business that did not come from ment to the industry discount or
somewhere else. If this were the (and) die.
case, merchants who are using these Third-party delivery is facing
services should be reporting overall increasing regulatory headwinds in
increases in revenues. I dont know mature markets. The UK very re-
of any merchants in the UAE who are cently ruled that food tech companies
saying this. This means that restau- cannot classify delivery drivers as
ranteurs are really experiencing the third-party contractors, making it
macro shift of consumers online, but mandatory for them to pay additional
are paying handsomely for it getting required compensation and benefits.
the same or less business that they One prominent third-party delivery
were before but paying 20% to 30% company recently shifted to a piece-
of the revenue to others. meal payment scheme, which was met
In terms of data, what I find inter- with widespread protest from many
esting is that if a merchant never col- of its driving force. The first response
lected data from its customers, then it was to increase fees to the consumer,
doesnt see the value of the data that and shortly after, the company raised
the food tech companies are collect- its global merchant fees by a third.
ing on its behalf I view this as being Third-party insurance for drivers and
a loss. This means merchants are corporate tax are also of concern to
becoming increasingly disconnected these players as jurisdictions began to
from their customers. Consumers are catch up with the regulatory environ-
being aggregated and spread over tech ment for this fast-moving industry.
platforms. The data grab is exacer- Third party delivery is doubling
bated by intensifying competition down moving into the real estate
between, aggressive and well-funded game. In a bold move, they are racing
food aggregators and third-party to establish multi-kitchen delivery
delivery companies. Remember, they facilities around the world, inviting
are competing amongst themselves for multiple merchants and operating as
merchants and customers the pro- a delivery hub. This is an innovative
verbial chicken and egg. The customer business model with many merits,

july 2017 Entrepreneur 71

Disrupting
the culinary
world
Whole Foods Market
in Saint Paul, Minnesota
players like Panera and Star- fail to understand and, more
bucks are following suit and importantly, adapt quickly to
raising their digital game with the new paradigm.
proprietary solutions to meet A new breed of restauran-
consumer expectations. teur is arising, building its
Freedom Pizza took a similar own business model around
approach in the region. We third-party and proprietary
saw the future seven years ago digital ecosystems.
and established a company The disruptors will be
that has and continues to disrupted by new variations
develop Freedom Pizzas pro- of their own business models,
prietary online ordering and new competitors (includ-
digital commerce platform. ing restaurateurs) and new
50% of Freedom Pizza orders technologies.
are online and growing quick- There will be material
ly. Freedom also owns and consolidation and capitula-
Amazon just acquired Whole Foods in perhaps one of controls its entire value chain tion (by weaker competitors)
the boldest moves to bricks and mortar, and arguably (including its fleet of 125-de- in the food tech sector and
signals its comfort with reversing into the value chain livery drivers) allowing it to vast flows of investment will
of its merchant clients. It already produces goods that stay connected to customers continue to pour in and fuel
it markets on its own platform. and serve them better. their efforts to control the
Whilst the future is difficult value chain.
So, whats next? It is in- produces goods that it to predict with certainty, The restaurant industrys
formative to look at other markets on its own plat- it would appear that scale, response will begin to ac-
industries that are in more form. Share prices of other control of consumer rela- celerate with broader depth,
advanced phases of digital grocers plummeted on the tionship and nimbleness are commoditizing food tech,
disruption. In the hotel and news. Amazon also recently the winning recipe of this making the marketplace more
travel sector, it has always purchased [Link] in the arena. It is also clear that the competitive and will place
been a love-hate relationship region and is in the process of current disruptors are not even greater pressure on the
between the global distribu- developing its own global lo- the final form they will be food tech companies.
tion systems and the hotel gistics hub, which will make it disrupted themselves. For the Lastly, and of fundamental
and travel companies. Very less dependent or more likely gladiators, it might be a game importance, at the end of it
recently, Hyatt Hotels have independent of Fedex and of winner takes all and in a all, consumers will continue
threatened to unilaterally pull other logistics companies. game of all or nothing, there to value great food, great
out from Expedias platform if One anomaly in the global are no holds barred. I offer a service and convenience from
they dont reconsider their fee food service sector is Domi- few predictions for those that companies who care about
rate increase. It is important nos Pizza. They started to care to consider them: them and that do more good
to remember that if you own invest heavily in technology Food technology will than harm.
the platform, you set all the over a decade ago. They can continue to proliferate at
rules and the pricing (and be viewed as the canary in exponential rates resulting in
everything else) is pretty the coal mine for food tech. a continued and tectonic shift
much at your discretion. The They do not use any of the in consumer behavior.
credit card companies know third-party service providers, Food tech companies will
this very well their real as- they own their entire value continue to do whatever is
set is their hi-speed and far chain and they are bucking necessary (including revers-
reaching networks that con- the trend of global decreased ing into the restaurant value
nect payment stakeholders all unit sales, rather they are chain) to mitigate shrinking
over the world and there are still experiencing double digit margins and win the war with
only two of them. growth. They attribute this to their competitors for control
Amazon just acquired Whole a number of factors, the most of consumer data and the
Foods in perhaps one of the important of which is their consumer relationship.
boldest moves to bricks and proprietary technology. They There will be many casual-
mortar, and arguably signals own their entire value chain. ties for unprepared merchants
its comfort with reversing Their online order rate in the (especially during periods of
into the value chain of its US is over 50%, and in the economic downturn or slug-
merchant clients. It already UK, a staggering 80%. Other gishness) and merchants who
images shutterstock

Ian Ohan, the entrepreneur who created and founded Freedom Pizza, has more than 25 years experience in real estate, investment, hospitality and
technology with 20 of those years in the GCC region. Alongside Freedom Pizza, Ian established Big Dwarf FZE, an e-commerce, food technology company
that continues to develop Freedom Pizzas much loved digital platform that runs at over 50% online order rate and is growing fast, making it one of the
leading platforms in the market.

72 Entrepreneur july 2017

Organised Co-Located Event Partners Investment Startup Official Travel Official Business Official Business
By with Knowledge Movement and Tourism Publication Website
Supporter Supporter Partner
Disrupting
the culinary
world

Kitchen Nation
at JLT in Dubai minimal risk. Open to any
prospective F&B entrepreneur
-who can apply after they
attain government require-
ments to work in a kitchen,
an approval from Dubai
Multi Commodities Centre
(DMCC) and a food hygiene
certificate- startups can come
in at various stages of busi-
ness development. It starts
off with an application and
assessment to determine how
Kitchen Nation can support
the startup, whether they
need assistance with a space
for operations, developing the
product, or even the menu.
Its website elaborates that
after application and evalu-
ation, the next stage begins
with orientation with the
A helping hand workspace, and supporting
startups with developing and
Culinary incubator Kitchen Nation wants to help finalizing product develop-
F&B startups stand on their own feet ment, accounting, operations
and marketing. After which,
By Pamella de Leon
participants will move on to

A
the incubation stage, wherein
startups can come in s with most busi- MENA ecosystem, he set up members will have access to
at various stages of
ness ideas, Kitchen Kitchen Nation. a HACCP-compliant kitchen
business development.
Nation was started Launched in April 2016, and dining venues, consisting
It starts off with
an application and after founder and Kitchen Nation was launched of multiple ranges, ovens and
assessment to CEO Rami Salous as a platform to cultivate grills and 10 prep stations. In
determine how Kitchen faced a challenge: after pur- ideas and talent through its this part, members are given
Nation can support the chasing his first food truck services and support sys- the opportunity to attend
startup, whether they from the US and bringing it to tem, with the aim being to events, workshops and train-
need assistance with a Dubai, Salous grappled with stand out among the worlds ing to scale their business.
space for operations, the inevitable hurdles of set- culinary incubators in its After which, when startups
developing the product, ting up a F&B business in the mission to enable home- complete performance objec-
or even the menu. UAE- getting permits, finding grown concepts. Located in tives within the incubation
a central kitchen, search- the Jumeirah Lakes Towers phase, startups can move out
ing for spaces, and so forth. neighborhood of Dubai, the of the Kitchen Nation space
Salous, whose background incubator provides a shared (or continue to rent the space
includes leading a construc- space for entrepreneurs to and other resources), while
tion and interiors company access a functioning commer- still being part of the alumni
and being a partner at various cial kitchen without having community.
F&B outlets, has seen first- to set up their own. Without The kitchen, as Salous calls
hand the struggles faced by overhead costs, startups oper- it, is funded independently,
new businesses in this realm, ating here can thus grow and and has four revenue streams:
and he realized that other develop a new business with from dine in and delivery
up-and-coming concepts face
similar issues, and are often
hindered by a lack of resourc- One of my favorite things to see in the
es too. It was then that Salous incubator is the internal networking
saw how the concept of F&B
incubators was becoming
between clients. Its the community
prevalent in other parts of the that Kitchen Nation has brought
world, and after realizing its together that will best advertise and
potential and benefit for the sell the concept to others.

74 Entrepreneur july 2017

 Disrupting
the culinary
world

sales, member consultation

and development, food pro- TREP TALK
duction, and hosting pop-up Rami Salous, founder
events for startups to show- and CEO, Kitchen Nation
case their products. Drawing
attention to why startups What are your top
should consider joining an three tips for an
incubator such as Kitchen entrepreneur to start
Nation, Salous says doing so an F&B business in
would provide them [with] MENA?
the opportunity to test the
market and receive tangible 1. Focus on developing a
experience, as well as real great product/menu, the
life data to make informed We hope to bring about a significant other details are secondary.
business decisions. Knowl- change to how concepts can be
edge is power! An incubator brought to market and new talent 2. Budget for the
offers you that without the unexpected. Bad things have
long-term commitment and
can be nurtured, and still maintain a a way of happening when
heavy financial investment. high level of independence. youre under prepared.
Besides consultation in
marketing and sales strategy, startups as its members. We hope to bring about a 3. Know your business in
members would be offered Some of which are Fitness significant change to how and out. The more you
legal, technical and op- Feedz, Powwer Jars, Smiths concepts can be brought to understand, the better your
erational support, employee Catering, Encas, Lealahs market and new talent can choices and decisions will
resources, as well as a res- Lunches, and even Salous be nurtured, and still main- be.
taurant, catering service and own F&B concept Rumman tain a high level of independ-
grocery shop with products House -where people could ence. What is the biggest
made exclusively by the in- get real home-cooked food As for whats ahead, Salous challenge for F&B
cubators members. Startups at their convenience- which says they plan to expand entrepreneurs in Dubai
can choose from a variety the founder launched after their network and bring in (and the region)?
of memberships packages establishing Kitchen Nation. more concepts to the market,
including both a part-time Their biggest challenge so far as well as a few partner- I believe Dubai especially
and a full-time package, and had been getting the word ships in the works- with goes out of its way to
a pop-up restaurant option out, which was remedied the eventual goal of expand- provide world-class F&B
available for members and with teaming up with a PR ing throughout the UAE and operations. It attracts brands
even non-members to rent and marketing team, and Middle East for aspiring from all over the world. As
the kitchen and dining area Salous own construction restaurateurs. As for the great as that is, with all the
to host an event. Though company also collaborated ecosystem itself, Salous big guys competing, small
Salous admits that they are on development, so there asserts the significance of businesses sometimes get
just starting to make its were no further setbacks. platforms such as Kitchen left out. Kitchen Nation is a
mark, Kitchen Nation cur- Optimistic about the impact Nation wherein entrepre- platform they can utilize and
rently boasts 15 operational of the incubator, he says, neurs can get experience in get their chance to shine.
prototyping their product
and operations. He also sug- Rami Salous,
Kitchen Nation
gests that small businesses founder and CEO,
at JLT in Dubai
should consider cross pro- Kitchen Nation
motions to build a customer
base, which would also help
their peers. As a culinary in-
cubator, he stresses on how
images courtesy kitchen nation | [Link]

the community is a great

asset, saying, One of my
favorite things to see in the
incubator is the internal net-
working between clients. Its
the community that Kitchen
Nation has brought together
that will best advertise and
sell the concept to others.

july 2017 Entrepreneur 75

start it up ecosystem | whos got VC | Q&A | STARTUP FINANCE

its efficiency, which include

Coface, a trade insurer
An Alibaba for Africa company to protect suppliers
against payment defaults, as
Moroccan startup WaystoCaps digital platform is enabling Africas well as an undisclosed trade
businesses to trade better finance company. WaystoCap
currently targets primar-
By Pamella de Leon ily soft commodities and

A
agricultural products, as the
s a platform for a large energy company community, thats where she team found its the most in-
that addresses country in South Africa, got to work closely with two demand in the African mar-
the business- admitted she wanted to get a bankers, who later became kets they operate in. When
to-business hands-on approach in the re- part of the founding team asked about competition
buying and gion, after getting the entre- of WaystoCap, Mehdi Daoui to the services WaystoCap
selling of preneurial bug while work- (Chief Operating Officer) and provide, El Bassunie points
merchandise across Africa, ing on side projects. Her first Anis Abeddine (Chief Sales toward the Yellow Pages-
Morocco-born WaystoCap forays in the trading sector Officer), which was then fol- though she notes that it only
is aiming to solve the frag- consisted of sourcing used lowed by the entry of Chief enables suppliers and buyers
mented situation in a market cooking oil (UCO) in Mo- Technology Officer Aziz to merely connect with each
that is still in the process of rocco, Spain and Egypt amid Jaouhari Tissafi. Though other. This is in contrast to
going digital. Besides being the Arab Spring revolution. they found the existing trad- WaystoCap, which helps
an online marketplace for El Bassunie remembers ing process exciting enough, make the deal happen with
products, founder and CEO that this first experience the WaystoCap team saw the its competitive prices, and
Niama El Bassunie asserts trading internationally got value of creating a digital verified suppliers and buyers
that WaystoCap is also an me excited about the pos- marketplace that would to facilitate financing part-
ecosystem offering services sibilities offered to a young address all the challenges ners and secure payments.
such as insurance to sup- first-time entrepreneur, try- we had been facing, and
pliers, financing to buyers ing to help buyers and sellers enable businesses in Africa One needs to learn to
and logistics management across Europe and Africa. to trade faster, cheaper, and build a filtering mechanism,
to remove inefficiencies. El On another trading project securely. otherwise you will be pulled
in many directions. And this
Bassunie, who previously between Turkey and Guinea, Following trips to Silicon just gets better with time,
worked at PwC in Londons besides seeing the drive of Valley and researching vari- as one build a more efficient
energy markets team and the local entrepreneurial ous models, the co-founders decision-making process.
saw the potential for build-
ing a trading marketplace in Developing the venture had
Africa, and with the aid of its own barriers, particularly
Nic Pantucci, Head of Plat- in getting to, as El Bassunie
form & Growth, launched says, Marc Andreesens
WaystoCap in Casablanca, product/market fit ideal, an
Morocco in 2015. The issue they countered by con-
startups mission is to tinuous improved product
not only facilitate trade releases, which would not
in Africa, but also to foster only make sense for them,
trade, whereby the company but also be viable in terms of
uses technology to deal with user feedback. In this regard,
the opaque nature of the they have certainly proven
financing, insurance, and themselves- WaystoCap is
payments of trade, and the first Moroccan startup
then monetize by charging a that graduated from the US-
commission on a successful based accelerator program, Y
trade. As of writing, El Bas- Combinator, and it has also
sunie notes that thousands raised a seed round from an
of buyers and suppliers have impressive list of investors
signed up on the WaystoCap including Y Combinator,
platform to either buy or Battery Ventures, Soma
sell goods, with an average Capital, Palm Drive Capital,
images courtesy waystocap

order size of US$30,000. Amino Capital, Endure

Niama El Bassunie,
Working across borders, Capital, Story Ventures,
CEO and co-founder,
WaystoCap the startup works with Lynett Capital, Neon Capital
strategic partners to ensure and 4DX LLC. Though they

76 Entrepreneur july 2017

 founder and CEO Niama
TREP TALK
El Bassunie asserts that Niama El Bassunie, CEO and
WaystoCap is also an founder, WaystoCap
ecosystem offering services
such as insurance to According to you, what is
suppliers, financing to buyers missing from the entre-
and logistics management to
remove inefficiencies. preneurial ecosystem in
Morocco, and what factors
tions. And this just gets bet- do you think can contribute
ter with time, as one build to its improvement?
a more efficient decision- [First], fundraising- we need
making process. more early-stage funds and
With regard to the Moroc- regional VCs participating in
Anis Abdeddine, Chief Sales Officer, Niama El Bassunie, CEO, Mehdi Daoui, COO,
and Aziz Jaouhari Tissafi, CTO, at Y Combinators Demo Day May 2017 can ecosystem, El Bassunie the ecosystem; not just private
says that it is definitely on equity firms that look at the
wouldnt disclose the exact the startups experience at the path to growth, with it occasional startup opportunity.
funding amount, El Bassunie Y Combinator as beneficial, seeing the rise of more en- We also need a lot more angel
confirms that it is between and she encourages her trepreneurs with noteworthy investors with the right investor
TechCrunchs reported range entrepreneurial peers in the startups, although theres mindset. Not the ones who
of between $2.5 million to region who are in incubators still a lot that needs to be ask you what the collateral is in
$3 million. Though they pre- to leverage their time in the improved. The probability exchange for their investment!
ferred to work with regional most effective way possible. of success in a startup is, So, there is a lot of work to do
investors, the team took note She says its about having by default, very low, so we in terms of changing mental-
of how tech company Ali- a growth centric approach, need to provide all the tools ity regarding risk and startup
baba (which they consider focusing on their startups to increase that probability investments. Success stories
their Chinese equivalent) messaging, networking and of success. As for Waysto- will help most with that.
raised funds from American preparing for investors. Take Cap itself, having started [Secondly], mentorship-
investors, and thus saw every advice you get with a operations in Casablanca, mentors that truly understand
the benefit of having US- pinch of salt though, as the Morocco, and its first West startup concerns and can give
based investors, given their founder says, One needs African subsidiary in Con- advice; often for advisors to be
expertise and experience to learn to build a filtering tonou, Benin, with the new at their best, they need to have
with tech and online busi- mechanism, otherwise you raise, the team is all set to a vested interest. So, actually
nesses. El Bassunie counts will be pulled in many direc- expand its operations now. allowing advisors to start get-
ting advisory shares; which
legally is very complicated in
Morocco.
Pitch perfect they have invested in similar
companies in the past in
[Thirdly], the legal framework
is too complex and does not
Niama El Bassunies tips for startups terms of sector, geography protect international investors
pitching to investors and others). Try to find an interest. This is why, for a
intro from someone in your Moroccan startup to attract
1. Be prepared to answer 4. Make sure that you get network- as its always better startup funding, it either has to
every question that an along with your investors; to get an investors interest create an international entity or
investor has (that means and often the first meeting will through an intro. Ask for intros struggles to convince serious
think about what potential be able to demonstrate that; including why you think the international investors to act
questions you as an investor remember these investors are investor is relevant. And if you locally; the legal framework
might ask). in for the rest of the life of your do not have intros, you can use also does not really offer the
company; and like marriage, it investor platforms. possibility of investing using
2. Know your numbers- is important to know that you sophisticated financial instru-
from unit economics to are compatible and aligned. 7. Be over prepared for ments, warrants, or convertible
market size; to your users every meeting. securities and notes.
behavior. 5. Prepare a teaser deck, [Fourth], the ability to attract
as well as a pitch deck that 8. Consider applying to an top talent with employee option
3. Understand what your includes more details. accelerator or mentorship pools. [Finally] recognition-
vision is and why you are program where you will be promoting success stories at a
doing it. The what and how 6. Have a process in place: able to surround yourself with national level whereby the pub-
is great, but the why is even build a detailed selection of experienced entrepreneurs and lic sector helps in the promotion
more important. Watch which investors you want investors, they will help you of these stories to attract more
Simon Simeks TED talk for to target (either because of hone your pitch and focus your talent towards entrepreneur-
more on that. their investment thesis, or if business. ship.

july 2017 Entrepreneur 77

start it up ecosystem | whos got VC | Q&A | STARTUP FINANCE

a few times a week, naturally

FittPass
website some [users] will consider
taking a membership out.
In that way, its a source of
good quality membership
enquiries for the facilities
too, says Bashir. Offering
six pass types (one-day, five-
day, 30-day etc.) the startup
looks beyond gyms, and
includes packages to health
clubs, pools, group exercises
etc. Similar to the kind of
fitness programs it advo-
cates, the startup focuses
on remaining flexible with
its business model too, and
sensing an increased prefer-
ence for qualified personal
trainers in the region, the
company has added features
No more excuses to search their platform for
such trainers, and directly
Flexible fitness marketplace FittPass wants to get the region buy packages online, thus
ensuring they become the
moving (and saving) By Sindhu Hariharan go-to destination for sports

A
and fitness in the UAE.
s you read this ar- todays dynamic lifestyles have the choice, notes With the sports and fitness
ticle, most likely (which find no support Bashir. [Similarly], if you industry in the MENA region
sprawled on your from the current rigid gym run a Google search and look estimated to be a US$5
couch or slouched membership packages), the for pricing, it is extremely billion industry, and as the
over your lap- startup also allows users to difficult to find the data preference for boutique fit-
top, you should know that search, compare, review and online, and usually fitness ness studios picks up among
in todays digital age, the buy passes and memberships facilities prefer to get the the current consumer, quite
very same tech devices can online to a host of fitness user through the door prior a few global and regional
also help you get moving. If facilities across the UAE. to sharing the pricing, which startups -such as FittPass-
you are someone (like me) As entrepreneurs who had to be honest is quite annoy- finds themselves to be in
who doesnt understand the a common interest in finding ing when trying to make a the right place and time to
need to sign up a long-term a perfect fitness regime for decision. start and scale their busi-
contract with gyms in order themselves, Faisel Bashir It is on the back of this nesses. Actually we were
to get fitter, imagine having (the founder and CEO with attractive premise that the first ones to launch out
an la carte sort of fitness a passion for sports and FittPass has slowly racked of the MENA region, and
model that helps you indulge tech), and Heba El Daleel up a user base of more after we went live, almost 14
in any preferred fitness (co-founder and CCO, than 15,000 subscribers to similar startups launched,
activity in your city without who is all about market- date, (and growing) with says Bashir. But to our good
having to commit long- ing) started FittPass with the startup considering fortune, we were extremely
term? If that excites you, a mission to deliver flex- its UAE expansion to have aggressive in our acquisition
youd jump at the merits ibility, choice and savings taken shape quicker than of partners and building the
of UAE-based fitness tech for the customer, while expected. The companys relationships we now have
startup FittPass. Motivated simultaneously taking the primary source of revenue with our partners, and that
by a belief that one of the fitness industry online. It is is commission from the is what we believe is our
biggest barriers to people normal [for fitness centers] passes/memberships sold, core differentiator, he adds.
adopting a healthier lifestyle to offer walk-ins a free trial, and they say that in the His ambitions also seem
is the fact that traditional but usually fitness facilities last three months, the B2B to be turning into reality
model of yearly membership do not continuously offer segment has also emerged as the startup is currently
doesnt work for everyone, day passes to users with no as a potential winner due edging closer to listing over
FittPass has created a pay- limits. With FittPass, users to many corporates taking 100 fitness facilities on its
as-you-play flexible model, can go to the same location care of their staffs wellness portal, with around 1,000+
providing short-term passes or to a different location as programs and partnering fitness passes made avail-
IMAGE credits fitpass

for various health and fit- many times as they wish, with FittPass for the same. able for customers to choose
ness activities. To match [and] are in control, and Once theyre using the gym from- a metric that, Bashir

78 Entrepreneur july 2017

says, is growing by 15% say that FittPass has a large
month-on-month. While share of the pie still left to
this performance may indi- attract, and the startup too
cate a smooth sailing for the seems to be aware and ac-
startup, disrupting the age- cepting of that fact. Among
old gym membership model its key priorities in the
has not come easy for short-term are to increase
FittPass. For starters, chang- the number of both the sub-
ing the mindset of business scribers and fitness partners
owners or managers in the on their platform across the
sector, who see no value in UAE, and to continue being
the industry moving online, extremely relevant to [their]
has been the startups big- consumers, by listening to
gest roadblock. There was a their preferences in terms
lot of initial resistance, and of activities like rowing, kite
fear of losing control, which surfing, diving, and other
slowly but surely shifted to sports. We definitely want
become very strong relation- to grow our footprint to oth-
Faisel Bashir, founder and CEO, FittPass and Heba El Daleel, co-founder and CCO, FittPass
ships with our partners, er markets, and our priority
says Bashir. On the consum- market will be KSA, and we
er side, operating in a sector will be there by Q1 2018, than dramatic problems which in our case, is the
where people are expected says Bashir. Hiring great helps in scaling a business, consumer and the consumer
to pay for something they talent who fit the work en- and going by this, FittPass experience. Therefore, the
mostly hate doing, comes vironment, and make [them] with its simple but essential larger we become, the more
with its inherent issues of a better organization is also business proposition seems complex the customer needs
demand creation. Marketing something that the startup to be poised for growth. As become, and the more im-
the business as an attrac- has its eyes on. As LinkedIn for the startups own strat- portant the customer experi-
tive and exciting one to co-founder Reid Hoffman egy to scale up, Bashir says: ence becomes. So, what are
the non-believers is hence once said, a focus on tackling As we grow, we are keen on you waiting for? Get moving
another hurdle FittPass has neglected problems rather keeping our eye on the ball, with FittPass!
had to cross. Some of the
elements that worked really
well for us was focusing on
social media by talking TREP TALK
to our target audience and
Faisel Bashir, founder and CEO, [Link]
making sure we have the
right approach, tonality and What are your views on the facing entrepreneurs: (Firstly), brilliant your idea is, it wont
information that would be MENA entrepreneurship corporates need to do a lot work, because all your partners
relevant and adds value [to ecosystem, and specifically more when it comes to work- bring specific skill sets that
them], says Bashir. Anoth- the business environment ing with startups. [Second], your business cannot do
er channel that was impor- in the UAE? the banking sector has still not without. [Finally], when things
tant for us was PR. This was The MENA entrepreneurship caught up with the growth and go wrong, get up as quickly as
key in getting our message ecosystem has grown tremen- needs of the startup environ- you can, learn and move on.
across, to the right people at dously. It is heartening to see ment in the region.
the right time. Even while that people are investing in the What would be your tips
tackling such challenges, its region, both from the region What are your top three for the regions aspiring
important to note that the and internationally, who are tips for an entrepreneur to entrepreneurs pitching for
fitness marketplace stays playing an active role in this start a business here in the funds?
bootstrapped till date, and market. Government initiatives, MENA region? The one thing we have real-
says external fundraising has like the in5 incubator, help [First], do your research, ized is that you dont need to
become a priority only in startups get off the ground but start. There is no better raise [money] from the region.
recent times. We are look- faster, and in a very cost- market to start- competition Investors are in every corner of
ing to close our pre-Series A effective manner. Dubai Future is healthy, dont let it hold you the world, so we really dont
round of $1.2 million by the Foundation allows entrepre- back, just know your strengths have to confine ourselves
end of the year, and we are neurs to solve real government and persevere. [Second], get to sourcing funds from the
about 55% away from our challenges through the use your families total support, region. Secondly, raising funds
goal, notes Bashir, without of innovative technologies, because its going to be lots takes anywhere between six to
revealing any other details. for example, the Hyper Loop of hard work and late nights. eight months, so plan accord-
Given the size of the project. However, there are a [Third], if you dont have the ingly and start your relation-
fitness-conscious commu- number of challenges currently right partners, no matter how ship building very early on.
nity in the region, its safe to

july 2017 Entrepreneur 79

money ask the money guy | vc viewpoint | your money | ECON

ers counsel if the investment the copyrights and IP related

amount is small. The term to the project, including but
sheet commonly sets out the not limited to (trademarks,
following terms: domain names, etc.).
> Subscribed shares by the
parties. Founders agreement
> Pre-valuation of the compa- An agreement between the
ny and its authorized capital. founder and the company to
> Distribution of shares ensure his/her commitment to
amongst the shareholders. the company and to avoid any
> Amount of investment in- malpractice by the founder.
jected in the company and the This agreement is usually
Setting the stage milestone (if any) set to reach
this agreed investment.
requested by the investor in
order to protect their invest-
[to scale your business] > Agreed liquidation prefer- ment.
ence rights. The above-mentioned
A primer on what a seed round entails for a startup > Management of the company. agreements, in principle are
By Samy Elsheikh > Transfer restrictions. considered the core of any
> Employees share option plan seed round for a tech startup.

D
uring the past three round during, or at the end of (if applicable). Naturally, some cases vary,
years, the economic the proof-of concept stage of > Intellectual property (IP) and founders should not be
cycle of the region, the business, and it is geared rights. rigid about variation. Once
coupled with the influx to obtain funding in order to > Confidentiality and non- the definitive agreements
of Western educated be able to launch a product as compete provisions. are negotiated and finalized,
college graduates returning to a service. > Governing law and the com- and closing takes place, (i.e.
the Gulf, spurred an enormous Before the seed round, the petent jurisdiction. funds are wired), the process
level of attention to startups business would have been is perfected by the various
and technology, and this in funded by the founders and Once a term sheet is signed, issuance of shares, enactment
turn resulted in a venture fo- some of the three Fs: friends, the founder and the investor of resolutions, appointments
cus that has hardly been seen family and fools. But because are ethically committed to of directors, and putting in
before. Young and capable this is an organized invest- negotiate and reach closing on place the new management
entrepreneurs and seasoned ment by third parties who are an investment into the busi- structure.
venture stage investors started mostly professional investors, ness. And with that commit- It is important to make sure
coming together, and they founders should expect the ment, the lawyers can proceed here that all parties involved
have looked to combine efforts seed round to be something with the drafting of the complete the seed round,
to build business and generate different, and have it marked definitive agreements, which and thus enable the founders
value in the region. Naturally, as a significant change in the comprise of the following: to enter the new chapter in
these ventures looked to the lifecycle of the business. the life of the business with
USs thriving venture capital Founders seeking to raise a Subscription agreement strong and well-organized
market for inspiration, and seed round start by applying An agreement where all the documents. We always advise
with that, funding terms like for funding with various ven- parties and the company un- the founders to think about
seed rounds have started ture capitals and angels. This dertake their representations choosing the right fund need-
being commonly used in this process commonly involves and warranties, the allotment ed for the business, and not
region as well. As it is the first many demands, meetings will and issuance of subscribed necessarily the biggest one,
real investment a founder include a one or two pages shares. for the investors to exercise
receives, the seed round is teaser about the business and a proper due diligence on the
something thats extremely a well-prepared pitch presen- Shareholders agreement business, and make sure that
important in the lifecycle of tation. This process ends with An agreement to draw the it is fully understood, from
a business, and for entrepre- an investor or a syndication of relationship between the their side, before taking a de-
neurs, it pays to know what investors offering a term sheet shareholders and the legal cision on funding. After all, it
it is all about- hence this to the founders setting out structure of the company, this must be remembered that the
primer. proposed investment terms. agreement will include more seed round is a very critical
First, we start with the ques- Once a founder receives a details on most of the points step for a business, as it marks
tion, what is a seed round? term sheet, it is highly advis- agreed on in the term sheet. its graduation from a project
In simple words, this is the able that he/she appoints a that the founders are passion-
first organized investment legal counsel to help with IP assignment agreement ate about, to a business others
round received into a business the rest of the transaction. This is to ensure that the believe in- and yes, it pays to
from a third-party investor. But it is also common to see founder will assign and lay the groundwork right at
Founders commonly raise seed seed rounds without found- transfer to the company all this stage.

Samy Elsheikh is a legal associate in SME Law, a boutique law firm specializing in legal and transactional advisory services for small and midsize
enterprises in the GCC. He is a qualified Egyptian lawyer, and prior to joining SME Law, Samy worked in international and top-tier law firms in the
Middle East, specializing in corporate commercial laws, day-to-day commercial advisory work, and M&A. [Link]

80 Entrepreneur july 2017

Make a Difference.
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CULTURE business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

communications after 4. Corporate communica-

all, employees are the tion gets social
internal consumers of the Of course, its hard to address
organizations outputs. Every any aspect of social commu-
employee in the organization nication without consider-
contributes something to the ing Facebook, and so its no
brands unique personality, surprise that Facebook at
which those employees Work, along with Slack, are
transmit onwards through two of the leading contenders
their Instagram or Twitter for the corporate communi-
accounts (think Etihad or du). cations crown. Facebook at
They become the customers Work is a version of the social
and fans of their brand. network that can be used only
Also, theres an added bonus within a companys internal
for employees in moving IT systems- personal Face-
to a more social style of book accounts are maintained
workplace communication. in separate silos, similarly to
Social means connections, corporate and personal Gmail
Getting social collaboration, and an all-
round deeper engagement
accounts. This corporate
version looks very much
@ work in the microcosm that is like the familiar consumer
the organization. And thats product, with status up-
Why corporate communications will never be the same leading naturally to employees dates, shared videos and
By Ema Linaker feeling more comfortable articles, and event hosting,
communicating and doing so but its more about project
Ive written extensively ways that I see social thinking in their own unique style and updates and brand stories
over the past several years bringing corporate commu- tone. Its actually making a than holiday photos and cat
about the dominant role video nications out of the dark ages big contribution to teamwork memes. Julien Codorniou,
has assumed in consumer- and into the light. and to more-rounded brand Chief Strategist behind the
facing communications. But is personalities. Facebook at Work project, has
the same thing happening in 1. Giving employees a voice said that a more connected
corporate communications? An active social media envi- 3. Visual makes a differ- workplace is a more produc-
Are emojis, video stories, and ronment inside the company ence The transition to more tive workplace. We want to
social conversations taking gives employees a platform informal internal communi- do that for everyone in the
over from often-impenetrable thats outside the box of cations has already started, company- from the CEO to
jargon, and if so, what does their cubicles, teams, and with collaborative tools like the latest new employee at a
this mean for the future of departments. It offers them Slack and Hipchat leading retail store. Slack CEO Stuart
internal communications- an avenue to celebrate their the charge. But with more Butterfield is expecting to see
and, indeed, for the future of organization, express appre- casual communication comes employees connecting with
corporate hierarchies? ciation of a company event, a greater risk of being misun- other employees, customers,
Its already well understood or share those little random derstood and thats where and partners as those employ-
that humans absorb visual successes during the day that visual communication comes ees are empowered to bring
communications much better make their work reward- in. Its particularly handy for their whole selves to work.
than screeds of written direc- ing. Of course, social media applying context and tone to Even the more traditional
tives. So, it would seem to be works in both directions, so a message. Trying to explain messaging platforms like Lync
a given that visual and social employees also get access to something thats happening and Yammer are shifting their
media in employee com- a new source of engaging and on a screen using written text emphasis. Both are embedding
munications could become exciting content to share, as can be extremely time con- visual language like emojis,
a powerful tool to deepen well as a feedback channel suming and is frequently not pictures, and video as integral
employee engagement when through which they can voice terribly effective at articulat- elements to their platforms.
implemented carefully. their opinions and ideas for ing exactly what youre see- All the evidence is pointing
I believe that, if done the organization. ing. In this instance, a picture to a future of true work-based
correctly, applying social really is worth a thousand social collaboration. One that
media strategies to internal 2. Creating consumer- words. Visual communica- blends words and pictures,
communications can have a like experiences for tions can save a tremendous stories, and videos to create
dramatic and positive effect employees It makes sense amount of time and energy a brand ecosystem that oper-
on employee engagement and to implement consumer- and get your message across ates just as widely within the
productivity. Here are four type strategies for internal more accurately. organization as without.

Ema Linaker is the Director of Digital at Edelman, MEA. She is a digital native who has been working integrated communications for leading brands
and agencies for over 20 years. She has worked at Google, Nuance, Ogilvy & Mather, and prior to her current role at Edelman, she used to head up
Leo Burnetts team of social, mobile and digital experts, working on multinational brands like McDonalds, Samsung and P&G.

82 Entrepreneur july 2017