Step Podcast: Recent Episodes
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Our audio channel aims to spread the knowledge shared in all of Step's events and reach everyone looking to learn more about the latest advances in technology, innovation, and investments from accomplished leaders.
Balancing data insights with creative freedom is a big topic today. Hazem Karkoutly, Louise Blake, Chris Eid, and Razmik Kalaidjian discussed how AI can help with ideas and trends in agency-client relationships.
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HIGHLIGHTS
(0:20) Evolving Client-Agency Dynamics
(5:02) Data vs. Authenticity
(9:03) Creativity in Advertising
(14:11) Marketing Balance
(23:44) Future Trends in Client-Agency Relations
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QUOTES
"Data contributes to the decision has to or else you're shooting in the dark. But you have to understand your brand and your proposition and your position in order to do it, you can't just really rely on data to tell you everything you want, because your competition is going to have the same input as you."
"Data is ingredients that gives you what ingredients you should use, okay, your recipe is your brand and your creativity. So it'll tell you what you can use and what works."
“Data should inspire you in ways that you didn't necessarily have access to that type of information.”
“Data will give you the principles, the goalposts will give you the requirements of where you should play, but the creativity needs to still lead the way and your brand at the end of the day should dictate how you communicate.”
"Data is one input when it comes to decision making."
"Data should complement the creative process, not distract from it."
“The creative process, if it's bound with certain data points is always we've all dealt with, it's an evolution.”
"Clients are demanding more focus on their DNA, brand, and industry."
"Agencies must prioritize understanding client goals and measuring effectiveness to succeed in the future."
"We're starting to play more and more advisory roles as well, and not just an execution arm."
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Financial literacy is crucial for both adults and children. Celine Khattar, Dina Shoman, Ashim Egunjobi, Bilal Abou-Diab, and Amelie Arras discuss its significance in the digital age, highlighting FinTech's role in wealth management, the need for financial literacy solutions in emerging markets, the democratization of investment opportunities, early education, and the importance of financial savviness in the UAE for better decision-making and economic improvement.
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HIGHLIGHTS
(0:20) Financial Literacy and Wealth Management in FinTech
(4:38) Financial Literacy Education for Budgeting Saving Investing
(13:42) Financial Literacy for All with Generative AI
(17:05) Financial Literacy Wealth Management Cultural Influences
(21:46) Financial Literacy in Emerging Markets Wealth Management Investment
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QUOTES
"Financial literacy is pretty much the same in both. But the we need to think about what's the purpose of financial literacy, it's to learn how to manage our money so that we can have more choices to live the life we want to live."
"Financial literacy is all about we work very hard to make money and create wealth. But then, once we have its financial literacy is how to manage it, how to manage your savings, how to invest how to reach your financial objectives."
"So starting the process as early as possible, and ideally with kids is actually what you want to do to teach them the basics so that when they are exposed and have access to these financial tools, they make better financial decisions for themselves to grow their wealth over time."
"You can actually start from as young as three or four years old, you can teach kids that age, very basic skills."
"The problem in the digital world as well as the fact that there's a lot of opinions. And I think back to the trend, one of the trends that's coming now is I think that's one of the benefits of generative AI is generative AI as a, sometimes a sounding board."
"So it's really, really key that we actually move financial literacy ahead, that we utilize the products, the solutions that we have out there that we're building, or that we're investing in, and actually ensure that we look at well, what is the impact that we're creating with these?"
"I think it's hard to measure. I think it takes like a big project to do that. And you know, you've had like financial literacy surveys and so on that you can do, but it's only a sample, right?"
"Financially savvy people make better decisions in their lives, hopefully, not get into debt and financial trouble overall. And therefore being able to build their wealth over time to live the life that they want."
"Data suggests that financial net wealth in the UAE so amongst adults, is 85% cash. So if you look at that, and you walk around, I think step conferences are a great place to ask that question."
"I think it's our responsibility. As you know, FinTech as an ecosystem, it's our responsibility to speed that time up as much as possible."
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Ensuring the responsible development and deployment of AI is critical. Ayman Alashkar, Batu Sat, Aya Elgebeely, Nicoleta Remmlinger, and Miguel Lasprilla discussed the need for regulation frameworks, ethical considerations, transparency in credit risk modeling, and a unified approach to AI regulation across industries.
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HIGHLIGHTS
(0:20) Introduction to AI Regulation Frameworks
(03:30) The Patchwork of Existing AI Regulations and Risks of Loopholes
(12:02) The Importance of Explainability and Transparency in AI Decision Making
(15:04) Using AI in Credit Risk Modeling: A Practical Example
(22:38) Proactively Building Technologies for Good
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QUOTES
"We need to embrace artificial intelligence, but we need to be responsible when we use it. We always have to think how that will impact someone's life and hopefully in good not in bad."
“AI is nothing new, the LLM's and chat GPT might be sort of fancy, but algorithms and rule based prediction and prescription has been around.”
"AI is the nuclear weapon of the 21st century."
"Regulation should not be less tech, actually should be more tech to guard railing to take care of the people of their communities."
"We need to know who is behind the outputs of the training... that is being used, potentially to our disadvantage."
"Artificial intelligence has gripped everybody's interest. We don't give it enough attention, and frankly, because it's a problem so difficult to solve."
"Having your own vector database, it's invaluable like having this on your own, and not necessarily relying on third parties who are totally out of your hand."
"We built our own proprietary generative AI system a few years back end to end everything, including the process, we designed and built ourselves and that enables transparency and explainability."
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Technology has the potential to transform travel in the Middle East, focusing on personalization, sustainability, and cultural experiences. Mia Jafari, Mamoun Hmedan, and Nadim Nagui discuss how FinTech, AI, and business intelligence enhance travel, build digital trust, and drive the shift towards remote work and aspirational travel.
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HIGHLIGHTS
(0:20) Improving Travel in Dubai with Technology
(5:27) Personalization in Travel
(8:57) Sustainable Travel Practices
(13:58) Cultural Tourism in the Middle East
(20:26) Building Trust in the Travel Industry
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QUOTES
"This is where we fit in with our ownership model for people who like to visit specific destinations frequently throughout the year."
"We enable users globally to shop for flights and hotels deals through different partnerships we develop with airlines, online travel agencies, and accommodation providers."
"Property ownership, by definition, is something that is very complex, and we're trying to simplify this, looking at it from two angles: the investment and the element of property management."
"We make this journey extremely seamless from beginning to end."
"We're trying to store data within our data management platforms and create categories for solo travellers versus families, business trips versus leisure, domestic versus International."
"Personalization for us is about personalizing the booking system experience for our customers based on their behaviour and based on the input that we get from them."
"We started now introducing digital frames, where you can upload a library of your own photos that are going to enhance the experience and make it feel more homey."
"The key success of the alternative accommodation at some point was catering to the behaviour of the consumers during that time."
"We try to put sustainable behaviours within the workspace and are looking to find the right partners by each market to provide sustainable travel options."
"Trust has been for us a priority since inception, not just because we are a new company but mainly because we are offering a new concept."
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Digital transformation is playing a crucial role in enhancing accessibility and inclusion across various sectors globally. Anna Tutova, Deepak Gupta, Maria Paula Oliveira, and Sarah Toukan discussed the rise of digital payments and mobile wallets in fostering financial inclusion in developing countries, highlighting ease of account access, instant access needs, security, reliability, and successful initiatives, as well as the potential of facial recognition payment technology.
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HIGHLIGHTS
(4:23) Mobile Wallets Driving Financial Inclusion
(12:24) Adoption Boost: Easy Signup, Security, and No Minimum Balance
(17:15) Expanding Digital Wallets: Government, Telecom, and Payment Provider Partnerships
(18:50) Emerging Markets Leading in Digital Wallet Innovation
(21:43) Real-Time Payments and Cross-Border Transactions Driving Adoption
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QUOTES
"For any retailers, ecommerce players who want to provide the very best user experience and payment experience, they have to be offering digital payments via digital wallets and of course via payments gateway."
"When you live in a society where you don't have that kind of reality, you're excluded from the modern world."
"It is really, it goes beyond just buying things, it's really a means of including people in modernity."
"I think it's a very beautiful innovation which enables the user in order to do the transaction in the easiest of the manner."
"Security is of the utmost importance."
"So people have grown accustomed to getting instant access. And this is just as important in the FinTech space."
"Necessity is the mother of all invention."
“It's interesting. It's really bringing access to financial services in order to enable people to improve their standard of living start to save for their families.”
"When we say that digital inclusion in terms of number of transaction, the India journey is very delightful if you see within the Asia pack."
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Effective content strategy and repurposing are essential for engaging diverse brands and audiences. Mamta Varerkar, Anastasiya Golovatenko, Riham Essam, and Jen Blandos emphasized understanding the client's audience, collaborating in content creation, tailoring content, utilizing AI tools, leveraging influencer marketing, and repurposing long-form content.
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HIGHLIGHTS
(0:20) Content Strategy and Repurposing
(3:44) Performance and Experimentation
(10:44) AI and Data in Content Creation
(17:26) Collaborations in Content Creation
(21:49) Influencer Marketing and Repurposing Tools
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QUOTES
"When it comes to content production, you need to understand the business, and what I always say is you need to start from the planning stage."
“We depend on what we call in our industry evergreen content – content that can be published and circulated anytime, any day whenever you need it to be.”
“One thing that's really important when you are looking at your content is that you need to talk to the people who are going to buy from you, who you want to know, like, and trust you.”
"Data tells you if your content is working, if it's not working, if it's relevant, or irrelevant to your audiences."
"We use a lot of AI tools to be able to repurpose content because people forget what they saw from you yesterday, let alone a month or two months ago."
“One piece of advice: Google your business and Google yourself. This is where your journey for content creation should start.”
"Influencer marketing is an area where brands need to invest in, explore, and learn, but it starts with planning and finding the right influencers for your campaigns."
“We use a lot of tools, but I think it's also important to be organized. If you have a system behind everything, it makes it so much easier to repurpose content.”
“If you are managing a lot of content, it's important to be organized because if you have a system behind everything, it makes it so much easier to be able to repurpose things.”
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Mario Nawfal discusses his transition from cryptocurrency to geopolitics, detailing how his content strategy supports his business ventures. He also highlights the potential of web3 gaming and the metaverse, defends his approach to controversial figures, and expresses aspirations for facilitating global dialogues.
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HIGHLIGHTS
(0:20) Social Media Reach and Crypto Incubation
(4:08) Citizen Journalism and Finance Sources
(8:00) Elon Musk's Support and Controversial Interviews
(12:49) Crypto Show's Diverse Audience
(17:17) Media Impact and Addressing Controversy
(21:40) Crypto, Gaming, and Web3 Opportunities
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QUOTES
“The numbers speak for themselves. The reach, whenever there's breaking news, people are starting to come to X.”
"We're unfiltered. We're leveraging what Elon has built by being able to post anything and not worrying about repercussions."
"Whenever we invest in a project, they want us to post about them, do a space about them. We get great allocations in projects we invest in on a regular basis."
"My end goal is to be able to have people like Putin and Zelensky on stage together. I'm getting close to it.""I don't think anyone in the audience, unless you have reached, really understands how aggressive cancel culture has become."
"I've kind of gone beyond the stage of money. So I'm pretty grateful that the incubator is doing really well. And we've done well, even before the show."
"Having an impact on the world. This is kind of more of a personal goal that I have."
"When you own your assets, when you add the concept of ownership in those games, you it just opens up a world of opportunities."
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In a discussion on the ethical implications of AI algorithms, Alnura Belyalova, Karim Tout, Sandra Helou, Maryam Al Ansari, and Andrea Ronchi deliberate on the potential biases inherent in automated decision-making systems and strategies to mitigate them.
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HIGHLIGHTS
(0:20) Privacy Concerns in AI Ethics
(4:39) Ethical Considerations of AI Bias
(8:35) Bias in Data Collection for AI
(17:39) Tech Industry: AI Ethics and Bias
(23:55) Impact of AI Bias on Businesses
(29:34) AI Purpose and Bias
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QUOTES
"So realizing that, first of all, it's not as safe as you think it is. You don't have a say in this, you can't really say no, you can't use why information to make the process better, or use it to make the processes better."
"What we need to have is awareness and spread this awareness amongst each other who don't know much about the fact that startups or other companies can access your information."
"Bias is not always bad depends on the application itself and the objective."
"It's impossible to not have any bias, it's impossible to be fully objective, there's always subjectivity, and we cannot be random."
"If I use predictive models to make a prescription that are making the real discriminations between potential usual users, that's where you don't allow the freewill of the user to enter into places."
"It actually depends because there's two different types of bias, right? There's bias, which is very kind of totally right."
"But there are different levels of bias and how it actually gets applied, and what happens to it."
"The whole model AI model design and dataset design and feature engineering should fit well with the objective that I'm trying to achieve."
"You need to safeguard the other people that are around there, you know, when you're building an online world, a virtual world that's accessible by multiple people."
"So focus on the dataset, make sure the dataset is good quality, not biased, and you'll get a good AI system."
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Discussing budget allocation, Juliette Nicholls, Bassem Saber, and Abeer Raza share insights on smart spending and engaging customers, providing practical advice for maximizing marketing impact.
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HIGHLIGHTS
(0:20) Smart Budget Allocation and Data Analytics
(5:09) Effective Budget Strategies for Small Businesses
(12:09) Harnessing Data Analytics for Growth
(17:41) Maximizing Marketing Budgets for Small Businesses
(22:59) Digital Marketing Tactics for Small Businesses
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QUOTES
"Budget allocation is a critical factor in scalability. I've kind of went through all the cycles where you have little or no budget to allocate, and it's not something that you think about to where you have millions of dollars that you have to allocate in a span of one year."
"People that are super focused on data, they're way more successful. They allocate their budgets way better."
"Define your first look at your competitors, right, like you look at what your competitors are spending on. And understand, you know, what the metrics look like."
"Big brands, you know, they have approval processes, they have committees, they have a lot of hassle when they have to implement changes. Smaller businesses, they can A/B test in a matter of minutes."
"Data is super important. But in order for you to measure data, you need to set the right KPIs, the right metrics in place to measure it, and then act on it based on assumptions that you've created through hypotheses or trend analysis."
"We've all been there where we've exhausted hundreds of thousands of dollars in ad spend and got nothing out of it. You have to set the hypothesis right upfront."
"It's things like these tactics that allow small businesses to scale drastically in markets that are overlooked by big businesses. And that is what makes entrepreneurs brilliant."
"Understanding user behavior through data analytics and AB testing helps in making informed decisions for budget allocation."
"I think it's critical when you define your metrics well, when you define your ROI well, to realize how you scale and what your acquisition cost is."
"One of the biggest mistakes that most small businesses make when they're scaling is looking at setting the right metrics in place."
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Learn how FinTech is changing online shopping with Paul Carey, Mohammad El Saadi, Brad Whittfield, and Padmini Gupta, as they discuss easier payments, new ways to pay, and how FinTech companies and stores can work together to improve shopping for everyone.
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HIGHLIGHTS
(0:20) Retail Revolution: FinTech Solutions
(6:36) Youth-Focused FinTech in the Middle East
(14:55) Partnering in Tourist Markets
(19:50) FinTech and Retail: Regulations & Experience
(24:18) Empowering Small Retailers with FinTech
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QUOTES
"How can FinTech solutions enhance and improve the overall experience for retail customers, particularly from online search to purchase?"
"Given the size of the markets, by about like $20 billion in the UAE, world, 15% year on year, it becomes really imperative to think about how your kinds of payments experience starts to go hand in hand with overall journey that that's your building."
"How do you create delightful experiences for customers, even when it comes to paying and money, which is not top of mind?"
"How do you make sure stuff works? Right. And so when you think about creating this delightful experience for customers, I think a lot of time, we're just so focused on the exact moment of the transaction that we forget the entire journey."
"One big bucket is new payment methods. Customers now have a plethora of options like cash, card, BNPL, or even empty wallets."
"Payments can fail left and right for so many reasons, and the customer doesn't really care why it's happening. Right for them, you failed them as a merchant."
"The opportunity for FinTech is wide for retailers, from discovery to increasing conversions to improving the overall experience for customers."
"Regulations require time and money. Once you get over that hurdle and figure out the right working model, it earns you the right to capture trust."
"As retailers focus on what they do best, their products, the marketplace they're creating, being able to partner with a trusted FinTech can take away the payment headache."
"It's about understanding customers, where the overlap is, where you can drive customer bases through different partnerships, and how you can get working together for a better customer experience."
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The thriving landscape of entrepreneurship within the UAE, particularly Abu Dhabi, highlights significant advancements in climate technology, AI, and Web3. Muhammad Lila, Conor Gilmore, Onur Elgun, and Alexander Epure will explore the regulatory challenges and investment opportunities in these sectors, providing strategies for compliance and attracting investments to fuel sector expansion.
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HIGHLIGHTS
(0:00) UAE startup experiences: AI, web3, and climate tech.
(4:33) Tech regulations and partnerships in the UAE.
(9:33) AI, digital assets, and innovation in Abu Dhabi.
(14:07) Abu Dhabi's tech growth and climate change solutions.
(22:01) Accelerating startups in Abu Dhabi: UX, infrastructure, fundraising.
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QUOTES
"We enable businesses measure, reduce and remove their carbon footprint."
"We help employers to reduce their time to hire from about 40 days to close to 10-11 days."
"We are a digital first crypto asset management firm, revolutionizing asset management using blockchain tech."
"AI will contribute about $100 billion in the next five to 10 years to the UAE GDP."
"There's certainly been a massive acceleration, especially in the last three, four years in terms of focus on tech."
"We need regulation that is both sensible and protects participants but also allows for innovation."
"Climate change is a global problem, but we are a big believer of local solutions."
"The government has set its strategy and priority in terms of sectors, focusing on healthcare, logistics, transportation, and cybersecurity."
"More people will get involved in web three, and talent from traditional finance will migrate to crypto."
"Building a startup is the loneliest thing in the world. You're doing something that 99% of other people don't have the courage to do."
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Exploring strategies for maximizing organic reach and leveraging key metrics across various digital platforms, Juliette Nichols, Fahad Kaleem, Matt Grey, and Ankita Dhawan engage in a dynamic discussion, sharing insights on audience behavior, algorithm adaptations, and the future landscape of organic content.
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HIGHLIGHTS
(0:20) Exploring organic growth strategies for social media platforms.
(6:28) Understanding the impact of social media algorithms on content creators' success.
(11:07) Analyzing content shelf life, algorithms, and achieving success on YouTube.
(15:17) Implementing content creation strategies, focusing on metrics and ROI.
(19:52) Selecting platforms for business growth: TikTok, YouTube, Instagram, LinkedIn.
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QUOTES
"You gotta stop selling, you gotta start sharing content that people would want to share."
"Attention is the new currency. And if you have attention one way or the other, you are going to have an advantage."
"People are smart. They can tell templatized AI content from authentic stories and experiences."
"Metrics are good, but look at platforms like BuzzFeed. They cared only about metrics, and it's worth nothing."
"Every platform serves a slightly different purpose. Pick where your audience is and where they're more likely to buy."
"Organic growth just doesn't happen. You have to engineer it."
"Authenticity and sharing experiences will be your differentiator in the years to come."
"Content shelf life takes time to show results. Three to six months is the minimum for any organic effort to show a tangible result."
"I think the metrics that matter depend on the platform that you're working on. Inevitably, I think that some of the commonalities are sort of asking yourself, why would someone save this piece of content? And why would someone look at this piece of content and share it with five friends? And if you can kind of answer those really clearly you're engineering some content out the gate that has a good shot at pushing some numbers."
"The more people that save the content, the more valuable that content is, the more they're going to share it with their friends. And the more you're kind of triggering the algorithm to bump up that content to the home feed, in drive more follower growth, drive more views."
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Expanding a business globally is no small feat, and in their discussion, Haninder Pal Singh, Ashwin Raguraman, and Khaled Zaatarah shared valuable insights into navigating the complexities of international growth. From selecting new markets to optimizing operations, their conversation provides practical advice for aspiring entrepreneurs looking to scale their ventures internationally.
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HIGHLIGHTS
(0:20) Assessing Market Potential for International Startup Expansion
(3:47) Investing in Early-Stage Deep Tech Startups for Global Reach
(11:36) Common Mistakes in Global Business Expansion
(19:33) Startup Fundraising, Global Expansion, and Talent Acquisition
(27:54) Challenges in Scaling Global Startups
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QUOTES
"Perseverance is key. Do you persevere? Or do you pull out and say, rationality overcomes the heart or the mind overcomes the heart?"
"It's good to be prepared with all of that. We look to see whether you have that product, which is tried and tested, and is going to compete globally."
"You need to process that well. And then find the one answer that fits with what you're doing."
"Every business is different. So some businesses can only expand to one market or one country."
"But if you have a product that can that has asset light operations that can scale globally, this is what the investors would love to see as well."
"Some investors will tell you you're maybe scaling into too much markets. Focus on the core markets, which is a valid point as well."
"The biggest mistake you will be making is if you didn't experiment and take those risks just because of fear of making mistakes."
"It's very case based. And I think the ability to really take signal, and that's where perhaps we play a role, right, which is what we try to tell, Entrepreneurs sometimes get very emotionally involved with what they're doing."
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AI is revolutionizing industries worldwide with its transformative capabilities. Jeremiah Owyang discussed the rapid growth and transformative potential of AI, highlighting its impact on decision-making and the emergence of AI personal assistants, while also mentioning challenges and opportunities in the AI industry, including proactive regulation and the potential challenges for small and medium-sized companies.
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HIGHLIGHTS
(0:20) Exploring AI Trends and Startups in San Francisco: Energy and Growth
(4:42) Unpacking AI Technology and its Potential Societal and Economic Impact
(9:43) Understanding AI: Data, Infrastructure, Models, and Applications
(14:58) AI's Potential to Revolutionize Industries: A Deep Dive
(19:53) Empathetic AI: Exploring Voice Assistants with Human-like Responses
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QUOTES
"This one is, I think this is one of the biggest trends we've ever seen."
"Everybody's focused on AI, it's everywhere."
"I've never seen this type of growth, let alone their self-driving cars throughout the city."
"We're trading our brain power for computational power."
"We're building a new species that could potentially be more intelligent than us."
"AI could kill Google search and Amazon as we know them."
"AI is a consequential technology, jobs will be lost, new jobs will be created. And every single job will be impacted. Yes, even the plumbers will be impacted by AI."
"We're going to go from manual to hybrid to an automated life."
"It's like the fire or splitting the atom, it can be used for bad and harm. But it also can be used to clothe, feed, and power the world."
_____________________
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Dubai's evolving business landscape is dissected by Elliott Denham, Dr. Thomas Mack, Rana Hajirasouli, and Daniel Callaghan, who engage in a dynamic discussion covering topics such as he importance of accelerators, the role of academia in supporting entrepreneurship, the attractiveness of Dubai for startups, the impact of accelerators on fundraising, and the need for personalized and effective accelerator programs.
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_____________________
HIGHLIGHTS
(00:20) Exploring the elements of successful accelerator programs in Dubai.
(04:18) Fast-tracking startup growth in Dubai and the UAE.
(06:20) Fostering collaboration between universities and startups.
(08:31) Cultivating innovation and entrepreneurship in Dubai.
(10:58) Unpacking the unique aspects of entrepreneurship in Dubai and the UAE.
_____________________
QUOTES
"We're passionate about helping Dubai stay at the forefront of entrepreneurship and startup all over the world."
"We work with approximately 500 startups, trying to help them go global."
"Access to non-diluted funding would help them accelerate their growth."
"Startups love to hear from their peers."
"The role of government is to be facilitative and move the needle for all stakeholders."
"It's like being in a scale-up nation, a lot of things happening at the same time."
"There's a lot of potential innovation out there beyond the US and European ecosystems."
"There's a reciprocal relationship between grassroots initiatives and high-level policies."
"Founders have one shared commonality: their time is their most valuable asset."
"We all know how safe UAE is as a place to live as a woman, so that might attract a lot more female entrepreneurs who might be lacking access to resources in other areas of the world"
_____________________
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In a dynamic keynote, Chris Yeh explores the synergy between Blitzscaling and Artificial Intelligence. Excited about Dubai's startup diversity, he previews insights on Blitzscaling's speed-centric approach and AI's potential for industry revolution. He previews his insights on Blitzscaling and AI, underlining their transformative potential for startups and breakthrough technologies.
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_____________________
HIGHLIGHTS
(0:20) Blitzscaling Meets Artificial Intelligence
(5:03) Strategic Integration of Blitzscaling and AI for Business Growth
(9:35) Unlocking AI's Potential for Growth and Scalability
(13:04) Navigating AI Investment for Value Creation and Impact
(18:06) AI's Transformative Impact on Industries and Businesses
_____________________
QUOTES
"Blitzscaling is the pursuit of rapid growth by prioritizing speed over efficiency in the face of uncertainty."
"The greatest risk is not taking enough risk."
"If you ain't first, you're last."
"The question is how much can AI amplify or replace human brain power?"
"The winner takes most market and the distribution is essential to Blitzscaling."
"AI is going to be the biggest wave of our lifetimes."
"AI is going to be something that's going to require Blitzscaling to succeed."
"You can only create value in four different ways: make something faster, better, cheaper, or make something new that didn't exist before."
"The greater the amplification, the greater the replacement value, the greater the magnitude of the change to your industry, whether good or bad."
"I think 2024 is the year of AI utility. It's the year where we go from thinking, wow, this is really cool to say, how do we use this to take all of the friction out of our lives?"
"Paradoxically, a lot of people are worried about the entertainment industry. They're like, Oh, my God, AI is going to come along and crush the entertainment industry. I don't think so."
"Let humans be human, let AI be AI."
_____________________
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Discover an insightful conversation between Ray Dargham and Amjad Masad as they discuss entrepreneurship, activism, and the future of technology. They explore Masad's founding of Replit, his advocacy work during global conflicts like Gaza, and the transformative potential of coding for creators worldwide.
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_____________________
HIGHLIGHTS
(0:20) Entrepreneurship, tech, and startup journey
(3:57) Being an Arab founder in Silicon Valley during the Gaza conflict
(8:54) Empowering billion creators through coding and AI
(13:18) AI opportunities and dangers, decentralization, and industry maturity
(17:47) AI, startups, and entrepreneurship with industry expert
_____________________
QUOTES
"I think you have to take enough risk, potentially ending your career on Twitter, to entertain the world's richest man."
"I was very lucky to get exposure to computers early on... I learned to code just because I wanted to use the computer."
"Coding is the highest leverage activity you can have as a human... you could change worlds."
"I'm not a big believer in the idea of some, you know, some AI that's gonna kill everyone."
"Just follow that curiosity... eventually, you're gonna end up with something unique."
"It doesn't have to be a startup... start as a side project."
"What matters is how history looks back at you... I still don't feel like I've done enough."
"Every journey, every person has a different sort of unique set of skills and aspirations."
"Don't quit too soon... just keep adjusting and keep going."
_____________________
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Consumers today seek transparency and purpose from brands, driving a growing demand for sustainability. Navigating the complexities of green marketing, experts such as Nermeen Negm, Alaa Badawi, Ahmad Hammoud, and Aya Maria Melki discuss effective strategies for authentic and impactful sustainability marketing.
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_____________________
HIGHLIGHTS
(0:20) Exploring sustainability marketing criteria and standards.
(4:15) Discussing sustainability in agriculture technology and marketing.
(6:33) Delving into sustainability reporting and storytelling in business.
(10:43) Analyzing sustainability marketing strategies and cultural change in business practices.
(17:03) Examining transparency, blockchain, and sustainability in business.
_____________________
QUOTES
"Sustainability really is in our DNA. It's in our core, and it's in everything that we do."
"As a brand would measure its sustainability impact, you should look at three facets amongst many, but the most prominent would be your environmental impact."
"Caring for people and developing sustainable communities is something very important."
"Profitability should be very important... It has to not cost you an arm and a leg."
"Looking at the whole supply chain can make sure that your business is truly sustainable, and your brand is truly sustainable."
"Marketing sustainability is one of the hardest things to do because you need to get people to believe in it."
"Storytelling allowed it to gain more than 4.5 million views at the moment on YouTube just for like three months or four months, it became so popular because no longer are you communicating spreadsheets and reports and numbers."
"Transparency and communication, being honest and genuine about what you're sharing with your consumers... will help provide an image that links the brand to sustainability."
"Integrating this into the DNA of the companies through integration into business strategies, raising awareness, and again, partnerships with NGOs and organizations, only then companies will be able to claim that they are actually committed to sustainability."
"Data-driven transparency will be a big trend... as companies, you want to be able to share what you're doing, where you're failing, and also what are your plans to overcome these failures."
_____________________
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In a dynamic discussion, Yamen Al Hajjar, Issa Aghabi, Ali Karabey, Mohammed Alzubi, and Lucy Chow share insights on evaluating early-stage startups, mitigating risks, and offering valuable advice to aspiring investors, shaping the landscape of venture capital investment.
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_____________________
HIGHLIGHTS
(0:00) Investment criteria and risk management for early-stage startups.
(2:25) Risk mitigation strategies in early-stage venture capital investing.
(8:02) Investing in overlooked founders and emerging markets.
(14:04) Diversifying investments through different teams and markets.
(20:21) Founder due diligence and risk mitigation strategies.
_____________________
QUOTES
"Fundamentally, I would say what we look at the companies we invest in, because of the stage that they're at them, that's the single most important thing, and I'm sure like everyone will say the same thing is people right?"
"We invest in people, we invest in entrepreneurs, we invest in teams that are resilient people who understand what they're doing people who really have a good head on shoulders."
"High risk, as they say, is high reward. This is what we signed up for."
"You need to limit the diversification as well. You need to show conviction at some point."
"It's tough look, you know, quitting to do this is tough."
"Don't look for entrepreneurs, but for CO investors."
"Invest in what you understand, although a lot of us do claim more opportunistic, we tend to gravitate towards sectors and themes we know very well."
"Try it before you buy it right? You will burn your fingers a few times before you do it."
"Take that first step and write that check."
"Invest, right. There are lessons you can only learn with your money."
_____________________
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In the face of high-traffic shopping seasons, marketing experts Cheryl King, Mona Faris, and Nora Tourky come together to share the secrets of retail success. They explore clever strategies to handle the surge in customer demand and thrive.
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_____________________
HIGHLIGHTS
(0:20) Driving growth in high traffic shopping seasons.
(2:30) Effective marketing strategies for retailers during peak shopping seasons.
(6:30) Targeting customers at the right time and place for maximum impact.
(11:41) Retail strategies for high traffic seasons.
(21:09) Inventory management and supply chain planning for retail businesses.
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QUOTES
“In order for you to kind of scale everything that you do from in terms of targeting your consumer, you need to make sure that you're tapping across these points.”
“…back in the days when we had to sit down and kind of think how are we going to find the right target consumer and right audience and all of that. Now, it's easier than ever with data to be able to quickly segment your customers understand who's the right profile that I want to be targeting them?”
“I'm talking about Black Friday, where most people choose to stock up on different things that they have. So at the end of the day, if you don't have the product, or you don't have what I'm looking for, I'm simply going to go to another website…So make sure that your infrastructure is equipped to handle that.”
“If you say that you have a 75% off sale, great good for you. So does the other brand. And so does this one. So why should I in Black Friday, invest my time and go to your website versus competitors? What are you offering me that others are not?”
“…Data is power. At the end of the day, it's really a goldmine that every single business and retail has today is having access to your customers information and data.”
"If you're not analyzing the data the right way, you might be making the wrong conclusions when it comes to your business."
"Loyalty is a hot topic... it's really hard to keep your customers loyal."
"How do you ensure that when during these kind of periods of high traffic, hot shopping seasons, you have just the right amount in there that you're not going to run out?"
"Content can make or break brands, whether it's an indie brand, whether it's a big brand."
_____________________
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Rethinking the VC model is not just about securing funds but also about finding the right partners who understand your vision and values. Speakers Abe Seksek, Ritesh Tilani, Kenzie Falcoz, and Priya Rajan explored the changing face of venture capital and discussed how founders can connect with investors who resonate with their mission.Sign up for Step events https://stepconference.com/Subscribe now to the Step Feed newsletter for a daily roundup of the top tech & business news https://subscribe.stepfeed.com/_____________________HIGHLIGHTS(1:54) Challenges Faced by the Regional Ecosystem(6:21) The Evolution of the Startup Ecosystem in India (11:57) Ecosystem Hurdles(18:02) Alternative Models for VC (23:24) Understanding Venture Debt (28:06) Building Your Team(33:20) Balancing Freedom and Commitment_____________________QUOTES"If you hire people that are aligned in terms of your values, it's extremely helpful.""They're joining you, and they know what they're up to, and it's gonna be a long journey.""If you don't have that runway and that cash, and you don't get to the next level, then they're going to be looking for a job again soon, anyway.""It's a free world; they can work wherever they want, and they chose to work with you at the price that you set.""So as long as you're giving them those opportunities, they'll want to stay.""I would also encourage any first-time founder to be as transparent as possible.""They want to learn about the journey, what they have to go through to build a startup.""So that gives all of us hope as investors as ecosystem players of all sorts, right?""Don't quit your job though. Come talk to us.""Accelerators are perfect, especially if you're a first-time founder who has no idea how to launch, and studio venture studios are the best part. One founder journey is so lonely, and you don't know where to start, how to start, and that’s the best part."_____________________If you’re enjoying this podcast, please subscribe to Step Podcast and leave us a review!Spotify → https://spoti.fi/3LIG8wjApple Podcasts → https://apple.co/3PxIXU5Anghami → https://bit.ly/3lDKxG4
Global economic trends and investment practices are under scrutiny. Here, Omar Shabaan, Amal Dokhan, Aboudi Qattan, and Issa Aghabi discuss the impact of these trends and practices, along with the challenges and opportunities for startups. They emphasize the importance of rigorous due diligence on investors and stress the need for founders to gain a profound understanding of their businesses and the markets they are entering.
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_____________________
HIGHLIGHTS
0:20 - The Evolution of VC Funding
2:58 - Unlocking Investment Opportunities
7:17 - Critical Considerations for Deals
13:18 - Pipeline Insights for the Year
16:17 - Navigating Capital Raising Challenges
20:46 - Promising Trends in Saudi Arabia and Beyond
24:51 - Founders' Guidance
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QUOTES
"We must acknowledge that there are abundant capital opportunities in the region, but we need to be cautious."
"When looking at a deal at the beginning, you need to consider the potential challenges and do thorough due diligence."
"Anticipating the same challenges of raising capital is wise, but it's essential to stay adaptable and informed."
"Founders should have a deep understanding of their businesses and the market they are entering."
"Diversifying your sources of capital is a key strategy to navigate the ever-changing investment landscape."
"The importance of aligning your business with the cultural and economic dynamics of the region cannot be overstated."
"Due diligence on investors is as critical as due diligence on deals; it's a two-way street."
“That's what I hear from some of the entrepreneurs that maybe the investor has the power, but you do have a power, you're actually the real deal"
“So you need to make us feel, you know, that you're confident of what you're doing, you need to know what you're building, you cannot not know who's your competition, you cannot not know who are the other players, you cannot say you are exiting or entering this market, and you don't know what's happening in this market, and you're raising for it.”
_____________________
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Scaling startups from seed to growth is a complex journey, fraught with challenges but also brimming with potential. Notable speakers, including Khaled Ghorab, Nitin Reen, Aya Sadder, Ahmad Mirghani, and Sami Bejjani, shared their insights and experiences, offering perspectives on preserving company culture, transitioning from employment to entrepreneurship, and understanding the changing expectations of investors at different stages of a company's growth journey.
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_____________________
HIGHLIGHTS
(0:20) Challenges in Scaling Startups from Seed to Growth
(5:36) Challenges Faced by Startups During Growth Stage
(10:58) Scaling Startups, Maintaining Culture, and Trusting Teams
(15:51) Company Culture and Growth Challenges
(20:19) Board Composition and Investor Expectations in Startup Growth
(25:01) Startup Growth and Investment in the Region
_____________________
QUOTES
"You have to be okay with the ups and downs, the constant pivoting, and not having the security of a stable income."
"You need to grow and hit the market, and then you can fix while you're growing."
"Let go of control and trust the people you've chosen to trust."
"You need to have a big goal but cut it into small milestones."
"You have to be prepared for a different risk profile when entering a risky venture."
"The founders should be asking more of the board. The board should be there to serve the founders and add value."
"There's a burden on a founder to generate cash quicker because there's a deficit of funding for later stages in the region."
"Staying good, evolving into something more, that's the real challenge."
"People will look back and see if you really achieved what you promised."
"Preserving company culture is like preserving the taste of a cup of coffee; what you put into it defines its taste."
_____________________
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Startup programs help early-stage entrepreneurs succeed by providing community support, mentorship, and validation. Elliot Dunham, Baldeep Singh, Hasan Wehbi, and Firas Abdulwahid shared their insights on how startup programs helped them launch and grow their businesses, including the importance of networking with other founders, receiving guidance from experienced mentors, and gaining credibility with investors and partners.
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_____________________
HIGHLIGHTS
(0:20) Startup Success Stories
(4:40) Exploring the Role of Startup Accelerator Programs
(10:52) Benefits and Insights from Startup Accelerator Programs
(17:42) Choosing the Right Startup Program
(27:07) Maximizing the Impact of Startup Programs
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QUOTES
"It's very important for early stage founders, especially for first-time founders, to be enrolled in and find the right program that fits their requirements."
"It's a go for a person who's starting fresh. Be stress-free on so many things that you don't have answers to and just focus on building what you came out to do."
"We were shortlisted among so many other ideas and founders. So basically, they've done part of their job, which is filtering out and choosing the right startups."
"For first-time founders, solo founders, it's a no-brainer. You gotta go, look back, just go."
"Four eyes are better than to six or better. Because no matter how the plan is great on paper, when you come to execute, you face a lot of problems on daily basis. So you always need more people to kind of look at what you're doing kind of guide you in a certain way."
"So in one year, you have access to many peoples that can help you and the different stages that you're in, because at the beginning, your your challenges are much more different than six months in when you're already starting to gain some traction."
_____________________
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In this dynamic conversation about niche and super apps, moderated by Lamis Abualkheir, two distinct teams emerge. The Super Apps team, represented by Amr Mostafa and Madiha Sattar, explores the potential of broadening their service platforms, while the Niche Apps team, Mamoun Hmedan, Hamad AlTamimi, and Vilhelm Hedberg, emphasizes the value of specialization and the focus on solving specific problems within their respective domains.
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_____________________
HIGHLIGHTS
(0:20) Exploring Niche vs. Super apps in the Middle East
(6:08) The journey from niche marketplaces to Super apps
(12:15) Integrating car-sharing into a Super app
(17:59) Super Apps in the Middle East landscape
(23:08) Crafting loyalty programs for travel meta search
(27:30) Super apps, user expectations, and competition
(31:55) Super App's objectives, economics, and engagement
(36:10) Generative AI's impact on industries and businesses
(41:09) Blueprint for a successful Super app with quality focus
_____________________
QUOTES
"The idea is that it reduces your customer acquisition cost. Rather than launching multiple apps for multiple services, you're bringing that same user and cross selling multiple other services."
"If you're out there, and you're building a company, be sure that you'll be able to motivate yourself, and you'll be able to have enough resilience that whatever happens in the market."
"If you're looking into becoming an entrepreneur, just constantly surround yourself with smart people."
"Building niche marketplaces and transforming into super apps is a significant trend in the Middle East."
"I think the challenge would be if we become beholden to a Super App, as though we lose our own identity within it. And I think that would be one of the concerns."
"So when times are rough, you can actually go to work every day and keep going and think of new solutions. Those are my two cents."
"I think the key tip, usually for any, anybody who thinks of a startup is basically think of the problem that you want to solve. Think of the consumer first, leave the money on the side, money will come."
"Integrating car-sharing service into a super app is a strategic move."
"Super apps, user expectations, and market competition are driving innovation."
"Super apps' objectives, economics, and engagement strategies are crucial for success."
"The Middle East is witnessing the rise of super apps and their impact on various industries."
"But always listening to the customer will help you grow. And we've seen it in many, many products."
_____________________
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Conscious commerce is a growing movement that prioritizes sustainability, social responsibility, and ethical practices. Entrepreneurs Oliver Baillie, Gergana Abdulrahman, and Khyara Ranaweera elaborate on advocating for small, impactful changes in business and personal life to drive a global shift towards a more sustainable future.
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_____________________
HIGHLIGHTS
(0:20) Positive Impact in Digital Banking
(4:06) Balancing Business with Social and Environmental Values
(8:14) Sustainability and Conscious Consumerism
(16:16) Sustainable Fashion Challenges
(21:11) Government Regulations
(25:24) Conscious Commerce and Impact
(29:30) Startups and Consciousness
_____________________
QUOTES
"It worked 12 months later, rather than two years later, I walked out of the oncology department with a clean bill of health."
"Small changes that you can make every day make a bigger difference long term."
"We're all trying to survive and to have a good life. There's nothing wrong with that. But just be more conscious of the things around you because we have this one life, and every time and every interaction and every person that you deal with matters within that."
"It's about making it the norm to go to a water fountain rather than buying a single-use plastic item."
"I think we need to kind of think why we're buying at the end of the day."
"I think a particular strong point with consumers is around the social impact, rather than the environmental impact."
"No governments are a game changer."
"It's hard to talk a consumer through fully why a garment would cost five dirhams and convince them to buy the one that's 50."
_____________________
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Many believe that the FinTech industry is oversaturated, but is this notion accurate? A panel with Celine Khattar, Saad Ansari, Nameer Khan, Sonia Gokhale, and Padmini Gupta explored them misconception about FinTech saturation, its impact on traditional financial institutions, the role of innovation, opportunities in the MENA region, and the importance of differentiation, illuminating the ever-evolving world of FinTech and its transformative growth potential.
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_____________________
HIGHLIGHTS
(0:20) Addressing FinTech Saturation in MENA
(2:07) Unveiling FinTech's MENA Potential
(5:07) Survival in a Startup-Saturated Ecosystem
(6:18) Debunking UAE Financial Market Oversaturation
(9:35) Deciphering Middle East FinTech Saturation
(12:53) FinTech Accessibility and Growth
(23:34) Entrepreneurship and FinTech in MENA
_____________________
QUOTES
"Saturation comes in when you're offering a product that is not relevant to the market."
"Innovation is literally a survival skill for any entrepreneur."
"Don't think of your competition as just the MENA region."
"Find a major pain point in the sector and build something efficient, then grow from there."
"Differentiation in FinTech requires mapping ecosystem partnerships and understanding the local market."
"Focus on the entire MENA region, not just a few countries, to tap into its vast potential."
"Don't think of competition as just regional, as people from outside will see opportunities and come in bigger than you."
"If a VC or venture capitalist is looking into a market by investing more into FinTech, that means that they also see some potential."
"Your differentiation factor as a FinTech needs to be how do you map the ecosystem."
"The appearance of saturation in the market came because there was a lot of capital going towards it. And you know, people see that happening, a lot of companies popping up."
_____________________
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Protecting data is crucial in the digital age. That's why experts Salim Essaid, Srijith Nair, and Mossab Hussein took center stage to discuss the importance of data security, shedding light on the protection of private data, and the responsible utilization of public data.
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_____________________
HIGHLIGHTS
(0:20) Understanding Private, Public, and Open Data
(2:54) Ethical Considerations in Data Security
(8:23) Challenges in Digital Transformation and Security
(13:05) Human Element in Security Systems
(15:13) Limits of Public Data and Privacy Concerns
(21:35) Trust and Transparency in Data Security
(26:03) Strategies for Cybersecurity Talent Acquisition
_____________________
QUOTES
AI has become a pivotal topic in today's rapidly evolving technological landscape. Its impact spans across various industries, from healthcare to finance and marketing. In this podcast, Ali Aboukhreibe, an expert from Boopin, shares valuable insights on how AI is shaping the future of marketing and advertising, shedding light on its role in data-driven decision-making and its ability to leverage both rational and emotional aspects of human intelligence.
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_____________________
HIGHLIGHTS
(0:00) Understanding the Fundamentals of AI
(3:56) Extracting Intelligent Perspectives from AI
(8:19) Strategies for Precise Audience Targeting
(13:43) Achieving the Right Mix of Emotion and Logic in Marketing
(17:12) Navigating Trends in Marketing with a Critical Eye
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QUOTES
"And what it basically is, is the theory and development of computer systems, able to perform tasks normally requiring human intelligence."
"But in reality, the brain is a mix of both rational and emotional thinking, and once you combine them, you come up with something called the wise mind."
"AI can think a little bit with some emotion or some human sentiment.""AI with Chat GPT has been taking over. And this is what's happened, basically."
"Is AI here to take my job? Am I going to have a job in five years? And Chat GPT said? No."
"AI plays an important role here. If we dig a little bit deeper, into a more complex consumer journey, which is travel, much more complex."
"Going back to content creators. Verify this text from chat GPT with Grammarly, copy, paste it, put it on a Word document. If you have Grammarly. That will fix it."
"We need to understand that whatever we're doing takes into account that human emotion and that we never just fully rely on AI."
"As Elon Musk said they're gonna take over and that they're more dangerous than nuclear weapons."
_____________________
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Coffee, the global brew that awakens senses and fuels conversations, served as the backdrop for an enriching discussion featuring prominent speakers Paul Papadimitriou, Ali Al Ebrahim, Rashid AlFalasi, Mohammed Bostaji, and Amna Almansoori. In this caffeinated conversation, they stirred insights about the rapid growth of the coffee industry, its technological evolution, and the art of blending data with beans, all while savoring the notion that coffee isn't just a drink; it's a lifestyle, a journey, and a daily dose of inspiration.
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_____________________
HIGHLIGHTS
(0:20) - Who Are You, and What's Your Coffee Pick?
(3:09) - Brewing Coffee Culture in the Region
(12:37) - On-Demand Coffee: An Opportunity Brewing
(20:37) - A Sip of Coffee Analytics
(25:58) - Crafting the Perfect Blend: Technology and the Customer Experience
(30:39) - Coffee Is Not Just a Drink, But a Lifestyle
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QUOTES
"There's always an experience to add to your cup of coffee."
"If you are a company who cares about your customer, I think you should have access to data and this information and then you need to find a way to make them even more happier."
"You know, part of me is like trying to find problems and try to solve these problems."
"It's not just a drink; it's science itself."
"For me personally, um, um, you know, I love coffee."
"Coffee brings everybody together, and this is what I like about coffee."
"And for us, when you build like a coffee chain, it's hard to be there in each branch and you know, build this relationship."
"You always want to go and look for good coffee."
"Now when I want to meet somebody for business and instead of going for business dinners, lunches, we go for a coffee. So it's it's more personal, casual, less formal. So for me coffee is a lifestyle."
_____________________
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Exploring the complex journey of navigating product-market fit in the early stages of startups, this panel discussion features seasoned entrepreneurs from diverse industries. Abdelrazak Al Sharif of Sheraa, Zohare Haider of Jalebi.co, Jumana Al Darwish of Made For You global, Helal Tariq Lootah of Lune Technologies discuss their experiences and challenges in finding the delicate balance between market demand, solution development, and customer validation.
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_____________________
HIGHLIGHTS
(0:20) Startup Introduction
(2:46) Journey of Building Jalebi.co
(8:09) Discovering Global Demand for 'Made for You'
(13:45) Challenges Faced in Starting a Company
(16:43) Venturing into Tech
(22:46) Navigating the Struggle of Raising Capital
(27:34) Setting and Pushing Past Limits
_____________________
QUOTES
"Learn how to embrace your own journey and practice resilience."
"Do your own research all the time, understand your investors, and pivot when needed."
"Stay in the game long enough to survive; the business will work as long as you're alive to keep it running."
"Pivot as much as you can to stay relevant in the fast-moving tech world."
"Resilience is key; things won't pan out as you initially thought, but find ways to make it work."
"Understand the motivations of your clients, and tailor your product to succeed based on that."
"Innovation and integration of services set us apart in a competitive market."
"Collaboration with other enterprises can elevate all of our businesses."
"Product-market fit is not a one-time event but a series of goalposts in the startup journey."
"Focus on building a company culture and a sense of belonging for your team members."
_____________________
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In today's digital age, the value of authentic human connections often gets overshadowed. However, there are individuals who understand the power of forging meaningful relationships, both online and offline. Peter Shankman, renowned entrepreneur, author, and speaker, highlights the importance of genuine connections in our interconnected world.
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_____________________
HIGHLIGHTS
(2:20) Listen to your customers
(7:34) Transparency is the first rule
(10:35) Get in front of the problem and fix it
(14:50) The Basic Premise of Relevance
(17:23) Create Invested Customers
(22:50) The Concept of Brevity
(27:45) The Concept of 'Top of Mind'
(32:58) The Importance of Having the Basics
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QUOTES
"Fix the problem for the customer. Get in front of it, talk to the customer, explain what it is. That customer now has a one on one relationship with you."
"If you're not listening to your audience from day one, they're gonna go somewhere else."
"The bar for customer experience is so low. I don't need you to be awesome, I need you to suck slightly less than everyone else."
"Be open. Be honest. When you screw up, own it. Keep the customers you have, they'll bring you the customers you want."
"Those are the ones who win. Those are the ones who I listened to. How do you know how your audience likes to get their information? Ask them."
"Create invested audience members. Invested audience members are 1.5 times more likely to stay and not leave when they have a problem."
"Listen to your audience. That's rule two."
"Rule three is the concept of brevity."
"We all know, mobile is the future."
"That taught us our phones could do more than just make calls."
_____________________
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Initiatives, challenges, and opportunities linked to attaining sustainability goals through inventive startups and projects took center stage. Aby Sam Thomas, Elodie Robin, Deniz Tekerek, Zain, and Tarawneh engaged in a discussion about climate tech entrepreneurship and sustainability endeavors in the UAE.
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_____________________
HIGHLIGHTS
(1:00) Choosing Climate Tech Focus
(3:29) Green Future Project Overview
(8:27) Startup Scaling Challenges
(11:37) Entry into the Impact Space
(15:26) Initial Startup Challenges
(18:31) Climate Tech in Abu Dhabi
(22:43) Social Impact Entrepreneurship
(26:11) Profitable Sustainability
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QUOTES
"Sustainability is multifaceted. Every single thing we do in life has to do with sustainability."
"Make it relatable, target your audience, and take advantage of the momentum."
"Stop selling the solution, sell the vision."
"We're a one-stop shop solution for decarbonization, helping businesses measure, reduce, offset, and track their sustainability journey."
"We believe biodiversity is the future, and we're developing a framework to benefit from biodiversity projects."
"Our core mission is to simplify climate action, making offsets and sustainability as simple as possible."
"The problem is complicated, so the solution cannot be simple. It's about understanding the benefits down the line."
"Sustainability is becoming more paramount for companies, less about CSR, and more about ESG."
"We educate and create a culture of sustainability within companies to make it part of their identity."
"In the UAE, we're creating an ecosystem around climate tech, helping companies scale deep tech and disrupt highly regulated industries."
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The gig economy, remote work, and the changing landscape of talent acquisition in the modern world have transformed the way we think about employment and work arrangements. Colin McDonagh explores this shift based on conversations with friends and colleagues seeking new job opportunities.
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_____________________
HIGHLIGHTS
2:20 The importance of thoughtful hiring practices
4:46 The interconnectedness of all parts of a company
7:37 The challenge of finding the right talent
11:53 Onboarding new employees
14:22 Your personal approach to hiring
16:16 The importance of hiring people who fit your culture
21:23 The benefits of having a culture carrier on your team
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QUOTES
"There's a world of opportunities out there that he didn't think about."
"We're thinking very linearly. We're not looking at the availability of talent out there."
"Anyone, anywhere. We think about anyone, we think about the company that goes and what we discuss right about looking at that permanent worker and not necessarily considering that gig worker, that temporary worker."
"Start to add on some consultancy talent, some temporary talent, some outsource talent, and you start to scale your teams and your projects and your work in that manner."
"How do we think about it? The way we started to talk with our clients and what we're talking and discussing with them is around two concepts, right? Anyone, anywhere."
"Nine out of 10 of them are anxious about entering the workforce."
"Making sure that we're able to connect a globally distributed workforce, all of whom were independent contractors, and engage them in the right way to be able to help them deliver this product."
"But it is about opening up a world of talent."
"So you get to the end of the year, and you probably have delivered a terrible product."
"So I want to encourage people to think about anyone is starting to think about that, from a strategic perspective of looking at, at the beginning of the year, how can I get this work done with anyone? And then we think about anywhere."
_____________________
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Corporate governance is not just an overhead, but an essential part of building a startup that protects shareholder interests in the long term. Suraya Turk, Rawan Baddour, GV Ravishankar, Rayan Alsharif, and Abdallah Mutawi discussed the importance of corporate governance in the early stages of startups in a panel discussion.
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_____________________
HIGHLIGHTS
(05:34) Corporate Governance in the Early Stages
(09:33) Advisory Boards in Mature Companies
(14:10) The Importance of Good Governance
(17:35) Transparency: The Key to Success
(20:54) Fiduciary Duty to Shareholders
(24:20) Paying Non-Executive Board Members
(27:01) Functional vs. Dysfunctional Boards
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QUOTES
"And of course, anybody who's out there raising, certainly institutional capital is always going to be required by their investors to have solid corporate governance and a good framework for decision making, and a good framework for accountability."
"While you're playing offense, you can have someone else in the team playing defense and doing the right thing for your shareholders. I like to think of it as not as overhead but as an integral part of how you build something to protect shareholder interest in the long term."
"The whole purpose of having a corporate governance in place is to take a company from this stage to another better stage."
"You have to figure out people that may be interested in giving back in a way and then have some interest in mentoring companies."
"You will have to then go to people who think of some upside from being remunerated from these situations, not the best kind of board member to start with, but you have no choice but to do that."
"It's about kind of the mentality of the board and your shareholders because the word self-interest, or anybody acting self-interest at any stage of a company will automatically create conflict, and it'll automatically lead to an inefficient situation."
_____________________
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Branding is an essential element that can make or break a business, shaping its identity and market presence. But there is much more to it than meets the eye. Experts Daniela Rossi, Bassem Saber, Nader Amiri, and Nina Seredia, with their extensive experience and expertise, engage in a compelling discussion on the challenges and strategies of building successful ventures within the branding landscape.
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_____________________
HIGHLIGHTS
2:07 Having a business within a brand.
6:40 Advice for bootstrapping with no money.
8:43 How to know who to go to?
12:45 The importance of understanding your target market.
14:57 Looking at your data to validate your assumptions.
18:36 The formula that works for all companies.
21:34 The importance of collaboration and collaboration.
24:30 How do you choose a partner for collaboration?
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QUOTES
"Because I wanted to have my freedom and freedom. Yeah. That's why I thought I would make a lot more money when I had my own business than being an employee. And it ended up to be true."
"It's really the challenge is resisting that temptation and say, Hold on, do I have the right product market fit? Do I have the right brands? Do I have the right, you know, objectives? Am I going through the right channel?"
"I'm actually consider myself one of these crazy first, one of the first expat women who opened an office in Media City many years ago, was in building number eight."
"My agency helps companies to create these meaningful, meaningful businesses that have purpose. And I love it. Because I truly believe that through businesses we can change this world for the better."
"So if that's what you stand out for how much money you need to advertise, it will never be enough. So I think it's that focused, start focusing first once you know, then you know, when you need where you need it, even if it's 100 DHS."
"Going back to this, like, Who are you talking to? And it's not just about, you know, this demographic or geographic but going really deeper? What are their pain points? What channels? Are they browsing? What are there likes? What are their dislikes? What does their day look like, really going deeper to understand their life, and how you can play a role in you know, relieving some pain or adding value to that."
"We had a small budget, not a big budget, so and we were like, Okay, let's go and put our brand out there. And let's go and start the service and see what we get. We got some traction, some numbers and became something. Okay, let's put more let's put more."
"So how we stand out today as an agency, is by creating this added value content that no other agency does, by doing honoring people on a podcast. And by doing talks like this, ah, I'm a step. I brag about it."
"So make yourself visible, be heard be seen."
_____________________
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How does an artist from Trinidad revolutionize the music and tech industries while embracing change and diversity? Join Chris Leacock, aka Jillionaire, a renowned artist and tech visionary, on an inspiring journey that breaks cultural barriers.
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_____________________
HIGHLIGHTS
1:57 How to create the tools that creators need.
4:14 How did you decide what genre to get into?
6:52 The disruption of the music industry.
12:27 How do you feel about music?
14:39 How to bridge the gap between creativity and success?
18:05 Mentorship and mentorship.
24:40 What are you excited about?
27:20 How do you think about virtual reality?
30:07 When will the metaverse replace the internet?
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QUOTES
"I set myself the goal to see how far, how wide I could stretch my hands and create context for Caribbean culture, specifically trade and culture through music."
"Music was always a hobby, and about 2008 or nine, I had the opportunity to pursue music as a career."
"I think the idea of genre is pretty new, you know, that's not something that I really grew up with."
"Creation is disruption. Being able to create and innovate is probably one of the most fulfilling feelings because it's really about looking at the technology and tools available to you and saying, 'Okay, how can I use these things to do something new and interesting?'"
"I've always been focused on solutions for the 99%, products that the average consumer can easily understand and use."
"When we look at technology, it's like a comet. We see the bright, fiery ball of what's brand new and exciting, not realizing there's a long tail of things that will have a greater long-term impact."
"The thing about music is that it constantly evolves. It's the same with creative work in general; it's always changing and adapting to new circumstances."
"As a creator, you have to be ready to dedicate the time, whether it's a phone call once a week or catch-up once a month, so you can be effective as a mentor."
"I've met folks who collect vinyl and cassettes, finding new content in a way that's far more enjoyable than just relying on streaming services to recommend new music."
"Music is a way to communicate an idea, thought, or feeling. It's less about trying to fit into a specific genre and more about conveying emotions and messages."
_____________________
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Innovation and uncertainty go hand in hand when it comes to building or managing a startup. Mohamed Amine Merah, Ahmed Arif, Mohammed H. Khashoggi, and Rayan Alsharif discuss the challenging process of entering unregulated markets, but also highlight the positive outcomes that can be achieved.
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_____________________
HIGHLIGHTS
1:22 How do you know if you’re in the gray area?
3:07 The challenges and uncertainties of starting a new business in Saudi Arabia
7:17 Navigating the regulatory landscape
9:50 The pros and cons of being in a regulated industry
13:31 Building in the money markets
22:15 Being a first mover and regulations
24:43 The regulation that will virtually apply to every single startup
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QUOTES
"Building or managing a startup is by definition, dealing with uncertainty every day, if it's certain, it's definitely or most probably not innovative."
"Do your research, look at what it is that you're trying to achieve, where you're trying to achieve it, because jurisdiction is important."
"When you have that conversation [with regulators], you're putting yourself on their radar. So it's kind of mapping timing and that key balance of asking for permission or forgiveness."
"You can also work with somebody who has a license, right, like fintechs do that all the time, they may not necessarily have a banking license, but they partner up with a bank that does the piping in the background."
"If you're a first mover and you have those discussions with the regulators, even if there isn't a regulation to use, you're then in a position to craft those regulations with them to influence their thinking."
"Sometimes it's very important to understand the language and the background of the regulator so you can reach that middle point where you can actually amend the regulations and make it happen as a partner with them."
"There's definitely a glory in being a pioneer, being the first to start, but it does also have its sleepless nights and the days that you think, why am I doing this?"
"You can actually use the interaction with regulators to craft the product that actually works for your customers."
"Take the easiest route that works for you, and that builds momentum. Then you can go to other regulators and say, 'I've done it already. This is how it's done. This is how we should do it."
_____________________
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The current macroeconomic environment is challenging for startups, as valuations have come down and capital is becoming more scarce. Zuhair Shamma, Mark Chahwan, Patrick Thiriet, Ankit Sarwahi, and Eyad Latif discuss topics such as consolidation and M&A, valuations, capital pools, secondary transactions and liquidity, and capital markets in the region.
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_____________________
HIGHLIGHTS
01:02 Macroeconomic environment challenges startups' fundraising.
02:06 M&A activity increasing in 2023.
04:38 Capital still available for well-positioned startups.
07:25 Secondary transactions providing liquidity for startups.
12:10 Secondary transactions may be the future of the ecosystem.
14:39 Pricing of secondary transactions can be challenging.
16:53 Selling in markets with no private equity players is difficult.
21:23 Focus on building companies that can survive the winter.
23:18 Capital markets in the region still active.
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QUOTES
"If you don't need to raise, spare yourself, be in a much stronger position in 18 months or 12 months time."
"Valuations are back more to what we were seeing five, six years ago... on the late stage funding, we had a bigger correction."
"2023 is the year of consolidation and M&A... we saw a lot of this happening in 2022, and we'll see a lot more in 2023."
"There's no liquidity crisis in the market. The Middle East is still open for business."
"Secondaries are becoming more palatable... even for family houses and local limited partners."
"Secondaries are necessary for the ecosystem... it aligns the incentives with the rest of the shareholders."
"The best secondaries take place during primary rounds... a perfect point of exit."
"You can use secondaries strategically in the context of a round to clean up the cap table."
"I think the focus should be on building companies that can withstand the winter... then the exits will flow from there."
"We're quite lucky here in this region to have capital markets that are getting ready... we're going to see those transactions happen."
_____________________
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Dubai, a vibrant city in the United Arab Emirates, has rapidly emerged as a global hub of innovation and entrepreneurship. Its strategic location, business-friendly policies, and forward-thinking vision have attracted entrepreneurs, investors, and tech enthusiasts from around the world. Racha Ghamlouch of Digital Digest, Diplomat Meghan Gregonis, US Consul in Dubai, and Saeed Al Nofali of In5 explore the key factors that have contributed to Dubai’s rise as a hotbed of entrepreneurial activity and its position at the forefront of innovation.
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HIGHLIGHTS
4:03 The UAE Government's Support of Entrepreneurship
9:17 The UAE's Agenda for Sustainability and Food Security
13:33 Policies Development
17:37 Partnership-driven Approach
20:52 Unifying Entrepreneurship in the Learning Experience
25:26 The evolution of VC funding in Dubai
30:09 What Awaits in the Next Few Years?__________________________________________
QUOTES
"The UAE already has an AI strategy. It aims to cut government spending by 50%, using AI and improving GDP with up to $98 billion simply by implementing and improving their operations with AI."
"Dubai is really on the forefront at this stage. This will set the stage for you for what's happening over the next two days with some amazing innovations."
"The UAE has done an amazing job of setting its sights on the globe in terms of growing in a worldwide way. But they've also set their sights on the universe."
"The collaboration is what makes those really huge moonshot goals possible."
"We're starting to accelerate and even catching up to the US and Europe as well."
"The true use cases of NFT technology have yet to be tapped properly in the market."
"All governments are working on plans for agriculture, sustainability, and climate change. Policies are being put in place, and this is really the real stuff."
"The UAE has ambitious programs with billions of dollars of funding to improve food production, vertical farming, and deep tech."
"The UAE is branded as the most tolerant place in the world, creating a very welcoming environment for innovation."
"It's not about one country going it alone, we really need to be working together. Different countries have different resources to bring to the table."
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Andrew Gazdecki, founder of Acquired.com, shares key highlights from his entrepreneurial journey with Zubair Paracha of Refunnel, including starting the marketplace for internet businesses, making acquisitions, and expanding the customer base, as well as mistakes made, the importance of hiring smart individuals, and offers advice for internet entrepreneurs.
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_____________________
HIGHLIGHTS
(1:00) - How did you become an entrepreneur?
(1:24) - Why did you decide to do Acquired.com?
(3:55) - Preparing to get acquired.
(8:47) - How long did it take to make the first acquisition?
(11:25) - Mistakes he made early on.
(17:26) - Why did you decide to drop micro acquisitions?
(20:09) - Expanding the customer base to include startups.
(22:53) - How have the multiples changed over the last 12 months?
(27:44) - What’s next for acquired calm?
(29:28) - Advice on how to build an internet business.
_____________________
QUOTES
"There needs to be an easier way to facilitate these acquisitions because it's arguably the most important part of the founder's journey."
"I just felt the startup ecosystem needed something like Acquired.com to exist, so I built it."
"We want to put the founder first, be the most attractive option for them to sell their business."
"Having no commissions made a lot of sense, just here, you can list your business, we charged the buyers."
"When we do implement commissions, we're going to do it in a way where we add value to the acquisition."
"Building those early relationships, one to one, I think, is really crucial."
"There's something that you need to close, which he called a credibility gap."
"The longer I was in those roles, the more I could understand them, and optimize them, and then build the processes."
"The biggest mistakes I've made building businesses are not hiring people smarter than me and not having a big focus on building the product correctly in terms of infrastructure from the start."
_____________________
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Do you ever wonder about the emotional journey entrepreneurs go through after an exit? Join Khaled Talhouni of Nuwa Capital, Ali Halabi of Voltlines, Ziyaad Ahmed of Spotii, and Tammer Qaddumi of VentureSouq as they explore the emotional changes, post-exit depression, and the pendulum swings that founders experience as well as the relief of paying back investors, the potential pitfalls of going public, and valuable advice on protecting oneself during an acquisition.
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_____________________
HIGHLIGHTS
2:14 The Emotional Journey of Joining a Larger Business
8:05 Riding the positives and the negatives
10:53 Five things to look out for in exits
14:06 What went wrong with SWVL's acquisition
18:52 Protecting Your Business
21:42 Acquisition Gone Wrong: Volt Lines Story
_____________________
QUOTES
"Exits are the end goal of every entrepreneurial journey, and that's half of the point of building a great company."
"The emotional change that the founder goes through when getting acquired is like moving back in with your parents."
"Most entrepreneurs fall for the mistake of getting connected and becoming one with their startup."
"Some days you feel like you're on top of the world, some days you just don't want to get out of bed."
"You go from being the master of your own destiny to a quarterly report, writing memos, and dealing with a chain of command."
"The experience of an exit is not a binary shift from controlling your own destiny to being an employee, but rather a spectrum of autonomy."
"Taking a company public prematurely can be a mistake if the business is not ready in terms of size and maturity."
"The share price and market caps of the acquiring company can impact the perceived success of an exit."
"Always think about the worst-case scenario. Only the paranoid survive."
_____________________
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Can you strike a balance between scale and profitability? In a debate between investors Laith Zraikat of Arzan VC and Yana El Dirani of Modus Capital, and founders Mohannad Ali of Hotjar, Nida Sumar of 60 Day Startups, Lloyed Lobo of Traction Ventures, and Yousef Albarqawi of Alfii, moderated by Shubham Yadav of Strategy Connect, they delve into the definition of profit from the standpoint of investors and entrepreneurs. They also discuss the difference between scale and growth, the rule of 40 for sustainable growth, and the challenges of advocating for scale over profitability.
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_____________________
HIGHLIGHTS
(5:37) - Definition of profit
(8:00) - Difference between scale vs. growth
(13:00) - How to get to profitability in B2B
(17:23) - Scaling is a methodical approach
(23:18) - How do you deal with scale vs profitability?
(28:43) - How to say yes or no
(34:40) - Do you see this changing for VCs?
(39:49) - Questions from the audience
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QUOTES
"If scale is done correctly, it should ultimately lead to profit. Otherwise, it was not done correctly."
"So you could be growing 80% year on year and burning minus 40%. Or you could be growing 20% and making a 20% profit margin."
"Growth is more about capturing more customers and increasing transaction volume, while scale is about operational metrics and capturing all the revenues."
"That topic should really be profitability versus blitzscale. Because you can scale profitably, right, but you can't blitzscale."
"Overspending is also just as bad as under-spending, in my opinion."
"As an entrepreneur, you have to be willing to take risks and make tough decisions."
"I would never invest into a startup that doesn't own the IP because then the potential growth of it, whether scale or profit, is really technically non-existent or dependent on third parties."
"Finding the right team is crucial for the success of a startup."
"Investors are looking for startups with a strong value proposition and a clear market opportunity."
"Scaling a startup requires a combination of strategic planning and agile execution."
_____________________
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The number of Fintech is continuously growing and becoming the latest talk of the town.
Fintech speakers Shafique Ibrahim of Walvat, Ihsan Al Hayek of DAPI, Danny Abla of Bankiom & Narendra Nandal of Nym Card spill all the details about the growth of the fintech in a fragmented market, the role regulations play in the Fintech space and the effective strategies recommended for fintech to get into the MENA region.
_____________________
QUOTES
''With open banking now coming full force in the region, we do have an excellent chance of stitching together at least commercially, these markets and these jurisdictions''
''If you have to address a fragmented market, which, where the scale can only come, when all these different fragments come together, you need a common platform''
''We need the regulator to escort us into getting much, much, much better services into our banking and our finances.''
''I think the driver that will push them to become more and more and more responsive and agile is the process of putting the regulation and we need to not over-regulate because this will kill all the risky and ambitious new use cases. So when you it's always a balance between the two''
''So definitely the global trend is for technology companies to start offering financial services.''
''I think the future of banks, they will initially work hand in hand.''
''Fintech is to the digital economy''
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HIGHLIGHTS
3:04- The Fintech ecosystem in the fragmented region today
6:38- Emerging of the Fintechs and the reasons behind their ability to initiate solutions
11:43- The role of regulations in the MENA region
20:57- Fintech being an alternate to the banking industry or more of a collaborative with a bank
26:51- Higher funding on the Fintechs
31:40- The strategies for Fintechs to get into the MENA region
Diving into long-term and short-term effective solutions can be really impactful in reducing the carbon emissions in the MENA region. Anne Marie Thodsen of The Umbrella Institute, Jeremy Crane of Yellow Door Energy, Vielham Hedberg of ekar and Cornelius Mattes of Dii Desert Energy discuss the process of transitioning into renewable energy sources, the hard challenges that come along with it and their own strategies to change the future of energy.
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_____________________
HIGHLIGHTS
5:24 The major challenges that have been seen during the transformation
10:18 The big issue of the subsidies for fuel
12:55 The companies' emissions and their energy spending
15:11 The reason behind big buildings not building renewable solar panels
17:39 Educating drivers & building smart cities
21:04 Making sure both business and individuality are not endlessly using capacity
26:15 The easier way for large and little business investments to come to energy
28:03 Strategies that will change the future of the world
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QUOTES
'' We look towards altering people's purchasing behavior from traditional buying a car into understanding that a car is a depreciating asset, it's causing a lot of debt.''
''The regulatory framework that enables people to change.''
''I'm optimistic that the rest of this decade is going to be very viable for that transition because we can operate outside of regulatory constraints, and we can certainly be more cost-competitive.''
''I'm a strong believer in distributed energy''
''The economic reasons phase out a few subsidies and the other things together, they will probably prevent conventional capacities from being significant edits in the region over the next few years''.
''Choosing Dubai as a hub, because it's a fantastic place to live and to work and to build a business as opposed to it being that carbon hub''.
''Clean tech can also reduce the cost of energy, which can also attract businesses.''
_____________________
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What is the right talent in the startup space? How can we keep and secure talent in a company? Christian Eid of Ducklife, Nathalie Spree of True Search, Adel Khalil Hemdan of Talabat, Tymour Fisher of Nomad homes, and Shubham Yadav of Startegy Connect are leading tech experts and are here to talk about the sources of these issues and provide effective solutions to close the talent gap while discussing the contributions of resignations happening in the companies due to the pandemic in the MENA region.
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_____________________
HIGHLIGHTS
1:15- The changes in the talent market
4:53- Seeking out more work balance or compensation
6:15- Maintaining the work balance through remote work
8:05- The difference between finding an executive leader in an early-stage startup and in a more established brand
15:53- The role of the organization in finding the right talent
17:58- Changes in the recruitment process
21:47- The process of hiring the right talent & to keep it
25-52- The great resignation debate
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QUOTES
'' It was like just the confidence of employer that they can actually have like productive teams that work remotely, and they can take charge of their day and all of these things''
''I think building organization building teams directly and not necessarily from recruitment as a discipline''
''So how we assess candidates, how we communicate that with them, ultimately, they are a form of customers for your business''
''So, make sure to utilize that incredible tool you have, which is your existing workforce, so that it's much, much easier to attract the talent as and when you need it''
''People now more than ever can, can do the job from anywhere in the world''
''You're building up your own community and potential future talent pool by engaging in people that might be stars of the future within your teams''
_____________________
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With the amount of data that we're putting out there, it's becoming easier to get hacked, especially when UAE is one of those leading on the digital government in the world.
Mossab Hussein of SpiderSilk, Rudy Shoushany of Dxtalks, Mohammed Amine Belarbi of Project Cypher and Multimedia Journalist Salim Essaid discuss the the threats to personal data, educating companies on the need for cybersecurity, as well as its costs and regulations, and what is needed in the future to protect our data.
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_____________________
HIGHLIGHTS
3:34 - Risking our personal data
7:48 - Cost of cybersecurity breaches
16:17- The need for cybersecurity & where to start
20:42 - Government responsibility & regulations
27:35 - Individual rights & future recommendations
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QUOTES
"It doesn't work unless governments and governance of cybersecurity comes in."
"It's becoming easier for hackers to hack us because of the amount of data that we're putting out there."
"The most important part is actually the readiness factor."
"Data is the new oil today."
"Cybersecurity is not an option, it's not wishful thinking. It's who is not affected."
"The final accountable is actually really the government."
"It's always a cost, it's never a gain."
"UAE is one of those leading on the digital government in the world."
"If you're not paying for a service, you are the product."
"It's really the regulator that can force these changes.'
"The human factor is the weakest point under present software"
_____________________
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Mental fitness and physical fitness are related without a doubt, but how? The interplay of thoughts, emotions, and actions has been studied, and there are common practices that proved to have a positive effect on mental well-being.
Nadine Chammas of The Life Director, Suna Zoabi-Othman of Tawazon, Viktorija Aksionova of Mindtales and Rima Bazzi reveal healthy habits and exercises people should maintain and the importance of mindfulness, meditation and awareness.
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_____________________
QUOTES
"What actions am I doing on a daily basis to reach this person that I want to be?"
"It's about understanding ourselves and our body and communicating well with our thoughts."
"The younger you begin, the more possibility to have to train your mind better in the future."
" If you have a positive thought, then you have a positive emotion, and then your body is energetic, and you feel like, energetic and happy."
"Our subconscious mind doesn't differentiate between reality and fantasy."
"Responsibility comes with discipline."
"We all need help at any time of our lives."
_____________________
HIGHLIGHTS
2:06 - Mental fitness, thoughts & emotions
9:27 - Healthy common practices
13:20 - Meditation & mindfulness
22:04 - Convenient habits in busy schedules
27:49 - Monitoring mental fitness
31:13 - Advice for someone suffering mentally
_____________________
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ESG is a 40 trillion industry worldwide. Many think executives should be looking into incorporating ESG principles in their organizations. Ahmed Al Naqbi of Emirates Development Bank, Abdullah Mutawi of Al Tamimi, Jihad Sadiq of FortyGuard and Shaker Zainal of MBRIF talk through the process of adopting ESG, governments' and startups' roles, self-regulation, and incentivizing ESG practices.
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_____________________
QUOTES
"Us all working together is gonna allow this to make a shift, not only in the UAE but globally as well."
"Corona has actually been a big ESG catalyst."
"Investors are going to be driving a lot of the demand that ESG has implemented as well."
"Every stakeholder in the ecosystem has a role."
"It's very easy to practice ESG because you don't need to change, you just need to create."
"The duty that we have with ESG is also to try and have an exponential network effect."
"It's not just about implementing ESG principles within an organizational structure, but it's also imposing it on the supply chain."
"Don't buy goods and services from anyone, unless you've audited and vetted their own ESG practices."
_____________________
HIGHLIGHTS
4:23 - Adopting ESG principles
8:41 - Self-regulation
12:05 - Startup perspective
15:37 - Embedding ESG in culture & its adoption in local countries
22:44 - Future of ESG
25:39 - Q&A
_____________________
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With the MENA region adopting BNPL faster than Europe and the US, new payment models are on the rise, affecting everything from retailers' strategies to consumers' behaviors.
Paul Carey of Al Futtaim (IKEA), Hosam Arab of Tabby, Miljan Stamenkovic of Mambu, Remo Abbondandolo of Checkout.com, and Megha Merani discuss the steps it takes to move to a cashless society, how to incentivize customers, the impact of BNPL on customers' spending patterns, the challenges new payment methods are posing, tourist-friendly payment options and the future of the payment industry.
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HIGHLIGHTS
1:28 - Challenges of new payments models
7:21 - Customer adoption
14:21- Incentivizing customers
19:53 - Tourist-friendly payment options
22:15 - Customers' buying patterns
25:47 - Responsible consumerism
29:06 - Evolution of payments
31:17 - Pandemic changes
37:00 - Future customer behavior
43:14 - Advice for retailers
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QUOTES
"It's all about the opportunities actually than challenges."
"It's partly customer demographic, partly our brands."
"This region has probably been one of the fastest globally to adopt something like BNPL."
"Incentives, once you take them away, the customer just reverts to the norm."
"It's all about transparency and offering that transparency to the end consumer."
"We're helping customers afford the items they want."
"We promote responsible spending."
"Being able to change and adapt quickly, I think it's key to being agile."
"We're looking very much to leverage the different brands we have and build that customer ecosystem."
"Customers want a bit more than just a payment method."
"It's all about building partnerships and ecosystems."
"The existing banks are failing big on coming up with new products."
_____________________
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Streaming in the MENA region is becoming more and more popular, especially with new content paving the way. With our panelists heading leading media companies in MENA, Richard Fitzgerald of Augustus Media, Alaa Fadan of Telfaz11, and Butheina Kazim of Cinema Akil, the future of the industry is revealed, including digital content, production, technology, subscription, and streaming platforms.
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_____________________
HIGHLIGHTS:
0:00 - Intro
2:17 - Watching content
5:38 - Content from MENA
12:50 - Future of technology in live streaming
16:21 - Subscriptions & platforms
22:23 - Specialized subscription windows
26:26 - Future of theatrical for Saudi
_____________________
QUOTES
"VOD revenues for 20 countries in the Middle East grew by $2.3 billion between 2021 and 2027 reaching a total of $4 billion Netflix "
"It's all leading towards like a very, very strong and very big industry,"
"You're gonna see a lot more stories actually coming from this region"
"Streaming is different from linear programming and formats are unconstrained"
"We're trying to build technology and we're also trying to build content all together at the same time,"
"We're going to see a lot of demand a lot of kind of competition on contents"
"The region has opportunity to create its own narrative"
_____________________
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How can startups and corporates work together and create more profit? Many processes differ between startups and corporates, decision-making and risk-taking to name a few.
Shafika Houcine of Etisalat, Caroline-Carmen Neubauer of Fero.AI, Elodie Robin of Hub71, and Roberto Croci of Microsoft for Startups discuss the opportunities each has to gain from this relationship and important factors that could facilitate or disrupt it.
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_____________________
HIGHLIGHTS
0:21 - Hurdles of startups and corporates working together
5:12 - Early-stage startups and corporates
13:31 - Potential changes to facilitate the relationship
18:43 - Advice for startups working with corporates
22:41 - Q&A
_____________________
QUOTES
"Non-alignment especially on the decision-making cycle is the biggest pinpoint."
"Find the right sponsor inside the organization."
"It's not the small one against the big one."
"It's really how we can create more value and more profit together."
"You need to be resilient when you have to work with corporates."
"It's about building the relationships."
"Don't hesitate to put time into building the business case."
"From the startup perspective, it's dimensions that you should think of,"
_____________________
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The first artists in the MENA region are here to talk about the new era for creatives: the mash of concrete art with NFTs. Rami Kadi of Rami Kadi Maison de Couture, NFT Artist Amrita Sethi, Kristel Bechara, the first woman in the MENA region to launch an NF T collection, and Sarah Trad of Step Feed talk about the process of introducing NFTs to concrete art, maintaining the balance, the sustainability aspect behind it and protecting artists' rights.
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_____________________
HIGHLIGHTS
1:04 - Introducing NFTs to concrete art
6:05 - Maintaining the balance
11:07 - Entering the NFT art world
15:03 - Procuring platforms & sustainability
18:04 - Protecting artists' rights
22:43 - Using NFT to customize the art
_____________________
QUOTES
"What I like to do is to be able to bridge the gap between the physical and the digital world."
"Things that NFTs do is they unlock a lot of potential in creativity."
"We're able to get multi-dimensional experiences."
"If you don't do your own research, you don't read, you will not get it."
"Artists should stick to their own unique styles."
"Know your style, create your art, and then go to a curated platform."
"It's been an amazing thing for the digital creator, to be able to finally, you know, realize and be appreciated for their talents."
"You should know where to put yourself, how you should market yourself."
"You should have like a clear roadmap and you should know where your project is going and just have visibility for the future."
_____________________
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EV adoption is rapidly increasing, more than 50%, year by year. With this huge trend, cities need to prepare the right electricity grid and infrastructure to support this demand. Cezanne Maherali of Uber, Haider Al-Zaabi of Mays EV, and Samar Ibrahim of EY talk policymaking and charging infrastructure and look into EV's integration with new technologies and its eco-friendly aspect.
_____________________
HIGHLIGHTS
3:03 - Technology & EVs
6:09 - Changes in policymaking
11:22 - Startups' role in the future of EVs
13:36 - The right infrastructure
17:42 - Sustainability
23:!2 - Role of the private sector
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_____________________
QUOTES
"The ability to charge your car at home is a new thing."
"It's a huge industry that will definitely grow so much within the next few years."
"So even though the charging infrastructure exists, it's not close to where drivers are living."
"It's still far more expensive to own and operate and battery electric vehicle versus, you know, a typical ice vehicle."
"How can you incentivize consumers and drivers to be able to want to opt for going green versus traditional?"
"The future of EVs is more acceptance towards implementing these technologies."
"We're looking into, for example, hydrogen, solid state, new types of batteries, which are more environmentally friendly than the existing ones"
_____________________
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With the integration of technology, access to mental health care becomes easier, affordable, more effective and provides more solutions, but some believe that social media and increased use of technology is to blamed for the increase in mental health issues. Inas Shashieh of Takalam, Ivan Palomino of Bessern and Daniela Rossi of Unlimited share their opinions and the challenges in onboarding consumers to trust such solutions.
_____________________
HIGHLIGHTS
5:20 - Technology - positive or negative?
9:52 - Technology's role in mental health stigmatization
14:40 - Gaining customer trust
18:17 - Customization in AI therapy
21:35 - Cost efficiency
25:30 - Common challenges
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_____________________
QUOTES
"More than a third of our life involves internet."
"The stigma is not reduced because of technology, the stigma is reduced because of awareness."
"More than trusting the technology, we relied in the methodology."
"Technology can enhance and visualize the progress."
"Employees need to have the possibility to self manage themselves better."
"What we need is creating much more channels of awareness around the subject."
_____________________
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The pandemic forced people to shop online, but many loved it and continued to do so even after it was over, and apparently, MENA is outperforming Europe in adopting emerging technologies. Mo Yusuf of Checkout.com explains the factors involved in transitioning to digital payments, the challenges they face, their impact on startups and crypto's future in this digital economy.
.______________________
HIGHLIGHTS
1:05 - How Checkout.com is deploying their billion
3:44- Changes in businesses during digital transition
6:05 - MENA region & emerging technologies
8:32 - Challenges of merchants & BNPL system
12:10 - Impact on startups
13:14 - Crypto future
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_____________________
QUOTES
"There's no one in this region who provides something of the similar quality."
"They kind of really went from thinking about payments as a cost center to a revenue driver."
"We are very bullish on the space. We think this is where the world is going next."
"They really want the ability to leverage their payments."
"If a consumer lands on your app or comes to your website and they want to make a payment, if that payment fails, you've essentially lost marketing dollars and a bunch of investments."
_____________________
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The evolution of the P2P solution has changed the financial system, influencing the underbanked and encouraging financial inclusion.
Sujoy Ghosh of Datacultr, Faisal Toukan of Ziina, Padmini Gupta of Xare, Faisal Al Haroun of Tap Payments, and Mohamed Khairy of Strategy& look at the current state of the space with the rise of crypto and the challenges that are yet to be solved.
_______________________
HIGHLIGHTS:
2:38 - Bridging the gap between banks and lenders
7:02 - Advantages of P2P payments
13:32 - Social payments & driving engagement
17:01 - Target segments
20:13 - Financial inclusion in a cost-effective way
25:42 - Digital payments
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_____________________
QUOTES
"It takes the dimension of payments from being very one-way and transactional."
"The strategy is always to start with the youth and the affluent."
"We're talking about the fact that today, you can have instant payments, instant transfers without the need of having an IBAN account."
"It's making consumer lives easier. And it's making business lives easier. And it's also making the regulator's life way easier."
"Banks are always trying to catch up."
_____________________
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AI is responsible for a great deal of startups' success nowadays, where the role of AI in setting stable grounds for any startup is important. To learn about where to integrate AI in your business, how to make the best use of the data generated, and the AI strategies that boost growth and scalability for startups, listen to the full episode featuring Ahmad Khwileh of Google, Ajith Nayar of CamCom Technologies, Nour Al Hasan of Tarjama and Susheel Sethumadhavan of Kearney Middle East.
_____________________
HIGHLIGHTS
1:48 - AI addressing the core of business
6:19 - Using AI for a competitive edge
13:34 - Embedding AI into the customer journey
17:13 - AI addressing non-core parts of the business
21:52 - Sourcing the right talent & technology
25:00 - Scaling a business using AI
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_____________________
QUOTES
"Extensibility is definitely something that you can get by leveraging technology correctly."
"You should allow people to reinvent the wheel."
"You need to have your data strategy before AI strategy."
"For every product, you need to have a roadmap which involves the data."
_____________________
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Podcasting isn't just a trend, it's about establishing relationships that matter with guests and listeners and building communities
Our guests Mouin Jaber of Sarde (after dinner), Loulou Khazen of Conversations with Loulou, Stefano Fallaha of Podeo, Bella Ibrahim of Kerning Cultures, alongside Former Radio Host Olga Habre explain how to build the right community for your podcast and engage your audience. You will also learn how to overcome the challenges you might face, while still being able to monetize the content and make a living out of it.
_____________________
HIGHLIGHTS
-Defining podcasts
-Engaging the audience
-How to choose your podcast topic and guest
-Challenges for creators
-Reaching people & discoverability
-Monetizing your content
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Quotes
"Podcasts are the most intimate medium there is."
"Marketing does nothing if the content is not strong"
"It's a content vertical that really builds trust between the creator and the listener. "
"The podcasts that leave room for the listener to be part of the content creation are the ones that make the most engagement."
" You need to make sure that supply and inventory is available, and you need to be able to deliver on these impressions."
"Try to use all of the resources that are available for you to be able to get your message through."
"Discoverability is a very challenging point that we need to solve for."
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Anghami → https://bit.ly/3lDKxG4
Impact startups are building solutions to the world's problems including climate change, pollution, and more.
Tameka Vasquez of Sidewalk Labs (Alphabet), Alicia Sornson of Village Capital, Kevin Holliday of C3 alongside Khyara Ranaweera of The Conscious Consultancy highlight the importance of investing in impact-focused startups and how more and more VCs are interested in having social returns on their investments
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HIGHLIGHTS
Social entrepreneurship vs tech entrepreneurship
Impact VCs vs tech VCs
Social entrepreneurship & the challenges
Advice for social entrepreneurs.
Subscribe now to the Step Feed newsletter for a daily roundup of the top tech & business news https://bit.ly/3d1XNDq
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QUOTES
"There needs to be a lot more support for impact-minded startups."
"There's also a lack of language around impact."
"Local problems are best solved by local solutions."
"The world will be better off even if the idea fails."
"There's a common misconception around impact-driven startups, that they're not innovative."
_____________________
If you’re enjoying this podcast, please subscribe to Step Podcast and leave us a review!
Spotify → https://spoti.fi/3LIG8wj
Apple Podcasts → https://apple.co/3PxIXU5
Anghami → https://bit.ly/3lDKxG4
In this episode, Marius Ciavola of Tradeling, David Feuillard of Eatapp , and Saif Ali of Dastgyr discuss how e-commerce affected the B2B arena and B2C consumer behavior, B2B vs. B2C impact on economic growth, and the upcoming global trends we should expect in the industry.
HIGHLIGHTS
Evolution of B2B trade
Consumer behavior & market trends
B2B vs. B2C2 coexisting
Upcoming global trends
Sign up for Step events https://stepconference.com/
Subscribe now to the Step Feed newsletter for a daily roundup of the top tech & business news https://bit.ly/3d1XNDq
QUOTES
"We see an increased adoption of digital services, particularly in B2B"
"Once you put the technology to it, the experience overall for all of the stakeholders involved will be improved."
"One makes approximately 12 online searches before they actually make a purchase online"
"If we want to have like a full ecosystem, both have to be successful in some ways"
"What's amazing about B2B is you can scale globally, way faster."
In this episode, Badr Ward of Lamsa, Aamer Sheikh of PepsiCo Middle East, Saeed Alnofel of in5 Dubai, Victor Kiriakos of MQB alongside Dana Abou Shakra of Park Innovation discuss all the verticals that go into making startup communities thrive.
Sign up for Step Saudi 2022 https://saudi.stepconference.com/
From podcasting to YouTubing and running social channels, it's always a struggle bringing numbers up, what's the trick?
Panelists Mamta Varerkar at Yellow, Panagiotis Tsaggas at Susurrus, Mashal Waqar at Milestone Ventures & MyLily and Casey Fitzgerald at Lovin Dubai reveal how podcasters can attract listeners, YouTubers can get more views and Social Influencers can get more following and engagement.
Cashless economies are inevitable and new technologies are taking over. Fintech players Anuscha Iqbal at Spotii, Nada Hassan at YAP, Alaeddin Elmajed at Hyperpay and Riaz Naqvi at Hill+Knowlton tell you about the key elements you need to consider when building your brand, how to gain the trust of traditional businesses and the role regulations and collaborations in the industry.
Sign up for Step Saudi 2022 happening in December 2022 https://saudi.stepconference.com/
A successful brand is all about the consumer's experience. Vishal Badiani of Snapchat, Moe Minkara of Mink, Fouad Jeryes of Maqsam and Sarah Trad of Step Feed discuss creative consumer experience strategies brands have to follow to stand out and build a loyal community.
VCs refer to markets like MENA as ‘emerging’ but some experts project that it will become the dominant source of investment flows. On this episode, Amal Dokhan of 500 Global, GV Ravishankar of Sequoia Capital, Walid Faza of MSA Capital, Jehan Ara of Katalyst Lab and Vijay Tirathrai of Techstars tell you about what factors to consider when investing in startups in emerging markets.
Sign up for Step Events https://stepconference.com/
With the gaming industry expanding in the region, e-sports athletes and organizers Saeed Sharaf of Esports Middle East, Madiha "Madi" Naz of Nigma Galaxy, Aref Aabed of MBC and Povilas Joniskis of Boston Consultancy Group talk about accepting e-sports as a sport, females in the e-sports space, and its development in MENA.
Sign up for Step events https://stepconference.com/
Web3 is a current buzzword, but is it the future? Riyad Abou Jaoudeh of MEVP, Vincent Ghossoub of Nifty Craft, Salwa Radwi of NuqtahNFT, Mo Yusuf of Checkout.com and Anas Bhurtun of Arts DAO are here to answer your questions on Web3 replacing the internet, the interesting features it brings and who's winning and who's losing in the Web3 world.
Sign up for Step Saudi 2022 saudi.stepconference.com
With content consumption on the rise, our panelists are here to tell you how to crack monetization. With the current media consumer culture, Basim Dawood of Sowt, Joelle Yazbeck of Twitter, Lemya Soltani Next Broadcast Media and Basel Anabtawi Rising Giants Network reveal valuable monetization models and methods and discuss the attraction between brands and creators.
Founders and Executives from the MENA region get into a conversation about mental well-being.
Nadine Karadag of Valeo, Mariam Farag of Humanizing Brands, David Munir Nabti of Bloom and Ally Salama of EMPWR discuss how to deal with overwhelming pressure, build a supportive ecosystem and embed mental health and culture.
VC and successful startup founders from the region give you their perspective about what it takes for startups to expand & grow, and it goes way beyond funding. Listen to Omar Rifai of Grubtech, Elliott Denham of Dtec Ventures, Christos Mastoras of Iliad Partners, and Loulou to learn about assessing marketing and making the right decision Khazen of Kickstart Ventures in this episode.
Many wonders if the creator economy and influencer marketing can ride the wave of automation. Ricky Ray Butler, CEO at BEN talk about the importance of influencer marketing in creator economies and how automation is an integral part in pushing this industry forward.
How can a customer get a seamless payment experience with the security concerns at hand? And how does this affect startups in the MENA region? Coming to you directly from the industry, Madiha Sattar of Careem Pay, Ahmed Alaradi of Tap Payments, Ali Al-Ebrahim of COFE App, Sara Ahmed of Mumzworld, and Tala Hammash share their expertise.
The big question: Is Metaverse the future? One of our panelists thinks some people are living in the Metaverse right now.
Kerrie Finch of futurefactor, Carolina Brandao of BUCK, Bei Wang of Straight Fire and Vincent Ghoussoub of Nifty Craft dive into how the Metaverse will create job opportunities, affect privacy and change the gaming industry.
From influencing the family spending to challenging brands on how they position themselves in the market, Gen Z and Gen Alpha are changing the shopping game.
Kerrie Finch of futurefactor, Tanya Ponomareva of Boomerang, and Rebecca Stringer of KidsKnowBest share some great tips on how to keep up with the latest trends and get ahead of the game.
Aya Sadder of Why Bolt, Aboudi Al-Qattan of Dash Ventures, Tina Daher of Shorooq Partners, and Hamza Khan of Letswork answer your questions on what startups look for in a VC and how investors value a startup and the process they go through.
How did the global Buy Now Pay Later phenomena evolve? How does it work? What's its impact on the industry and why is it so hyped up in the MENA region? Expert Tariq Sheikh, CEO of PostPay, answers all your questions in this episode and answers the big question: What's next?
Sharif El-Badawi has been through it all, entrepreneur, VC, and now in the government. Sharif, CEO of Dubai Future District Fund. tells us about his failures and successes that led him to where he is today, including the time when he was the only person left in a company.
Hear out from incredible women leaders!
Sophie Smith of Nabta Health, Emaan Abbas of Ketish, Baha Hamadi of Deep Knowledge Group, Chanda Lokendra of Lizzom, and Triska Hamid of Wamda discuss the rising awareness of women's health in emerging markets, the sub-sectors, and the role that technology is playing in promoting women's wellbeing and breaking taboos across all areas.
Tune in for an insightful discussion between Elie Habib of Anghami, Youssef Salem of Swvl, H.E. Dr. Nabeel Koshak of SVC and Shana Marashi of EY on the route to IPO in the MENA region, and how founders need to calculate their exits and pick their options.
Panelists lay down the state of the IPO market in the region, and why SPACs could be an option to consider while listing the pros and cons of both options and challenges to expect in the process.
Featured in Humans of New York, Sidra Qasim of Atoms tells us her inspiring story of how she moved from rural Pakistan and co-founded an internationally-known company.
Listen to how Sidra started off by inviting people to her home one by one and ended up with thousands of customers and celebrities wearing their shoes.
Everyone’s always talking about numbers when it comes to businesses, but what about Psychology?
Regional Vice President at CleverTap Jay Dalvi introduces Digital Psychology and its importance in creating a great experience for users. Tune in to listen to Jay elaborate on how businesses should understand users’ emotions & behaviors to send them the right motivation at the right time and improve retention.
Eugene Willemsen, CEO Africa, Middle East, South Asia at PepsiCo, explains the behaviors that ultimately underpin how they do business to remain one of the leading F&B company in the world.
In this episode, Eugene also suggests important guiding principles for startups to be successful and gives examples of partnerships they have with startups across the globe.
Paul Misener, VP of Global Innovation Policy at Amazon, shares his experience in working in SMEs and offers young entrepreneurs some valuable advice. Paul explains how Amazon maintains the startup mentality and their mechanism when making big decisions. Reasons behind Amazon’s success such as culture-driven innovation and behind-the-scenes failures are also revealed in this episode.
Rayan Dawud from Outliers along with Omar Kassim of Nomod, Feras Jalbout of Baraka and Sonia Gokhale of VentureSouq discuss the effect that the Y Combinator model had on the MENA ecosystem, and compare it with existing regional programs, exposing pros and cons.
Leading voices from the world of technology and innovation come together to passionately debate the industry's biggest questions at Step and now you can listen to it all on the Step Podcast.