Melda Akin

Thank you Entrepreneur Middle East for publishing my article on GenAI. In this piece, I discuss why entrepreneurs and businesses should not rush to fine-tune LLMs. I delve into the limitations of LLMs and how we can unlock the transformative power of AI by adopting a governance-first approach. You can read the article here: https://lnkd.in/dUfZVgU8

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Sales reps are 3X more likely to meet their quotas with a mobileCRM! At Jaldi we saw this play out two weeks ago. As companies in the UAE returned from the Eid break they were greeted with the heaviest rain in a 100 years. Businesses were paralyzed. Offices closed. Yet at Jaldi, we saw our HIGHEST usage ever during the week. Accessible solutions = empowered teams #jaldi #mobilecrm #saas #crm #salesmanagement #startups #simplicity

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Pitch Your SaaS and Scale with Us! 🚀 Exciting times are coming for the Middle East startup scene! New opportunities are on the horizon, and you don’t want to miss out. We’re about to revolutionize the way startups and scaleups grow. Submit your SaaS for an opportunity to pitch to our team: 1. SaaS Name & Website 2. One Liner Pitch 3. Target Audience 4. Founders LinkedIn The best ideas will be invited to pitch directly to our team, with a chance to receive personalized mentorship, networking opportunities, and potential investment! Let’s transform the future of business in the Middle East together. Our unique approach to scaling will set you apart in the market. Bonus: The first 20 submissions will receive exclusive early access to our upcoming launch event and a chance to win a one-on-one strategy sessions. Tag your co-founders and innovative startup solutions in the comments below. Let’s build a vibrant community of growth and innovation! Don’t miss this chance to be part of the next big wave in the Middle East tech landscape! #SaaS #Startups #MiddleEastTech #ScaleYourStartup #Innovation #TechCommunity #PitchYourSaaS #Mentorship #InvestmentOpportunities #Entrepreneurship #BusinessGrowth #Networking #Dubai #AbuDhabi #Riyadh #Doha #SanFrancisco

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MAGNiTT’s MENA Q1 VC data is out now! Not looking great 👀 In line with my predictions in Jan, MENA's VC funding trajectory has followed a flattening trend, paralleling global VC investment patterns. MENA Q1 VC funding declined 60% YoY and 69% compared to Q4 2023 The FED has maintained interest rates in Q1. In fact Larry Summers even suggested the risk of higher rates in 2024. This backdrop highlights the challenge startups to secure funding rounds as investor appetite dampens. Until we see rates decline (still planned for H2) we don't anticipate an uptick in VC funding in 2024. This decline in MENA, however, echoes a broader global trend, as highlighted in CB Insights's latest report, which observed a 21% YoY decrease globally. More than ever, there has been a bigger disconnect between the public market rallies and the private market challenges. With the S&P up 6.73% YTD and the Nasdaq up 7.5%, we have yet to see public sentiment correlate with Venture Investment. Want to access the latest MENA insights? Get a subscription and speak to our research team:  https://lnkd.in/g_e4XXTM #VentureCapital #InvestmentTrends #MENAStartups #TechInvesting #AIBoom #MarketAnalysis #EconomicTrends

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The MENA region has had a transformative impact on the global startup ecosystem, becoming a chosen home for many talented entrepreneurs. As a tech founder deeply rooted in the region, I can't emphasize enough the need for easier scaling across our markets. With a population exceeding 470 million and countries like the UAE generating $4.2 billion in ecosystem value over the past few years, MENA is well-positioned to compete with established markets like the US and the EU. Scaling a startup anywhere is tough. Sure, we've got a young, tech-savvy population hungry for innovation and a relatively greenfield market. However, expanding into new regional markets presents unique challenges. ➞ And here's why making it easier to scale matters: When companies can seamlessly expand across the MENA region, it's a game-changer for everyone involved. It means more opportunities for startups, more jobs for our youth, and more innovation driving our economy. Think about it - easier scaling means startups can quickly tap into new markets, reach more customers, and accelerate revenue growth. And most importantly, for a sustainable tech startup ecosystem, we need successful exits so those involved can come back and support the next round of founders. And that's not just good news for individual companies—it's a win for the entire ecosystem. But we can’t do it alone. It's going to take collaboration, coordination, and a collective effort from the government, investors, and fellow founders to take our ecosystem to the next level. So, let's make it easier for startups to scale across MENA. What do you think? #MENAStartups #StartupFounder #TechEcosystemBuilding

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Navigating e #GenAI Frontier- #ethical, #regulatory & #technological #challenges & #opportunities of #GenerativeAI that lie ahead Key #insights from DUBAI FUTURE FOUNDATION report ✅ Generative AI has the potential to transform the nature of #work by enhancing worker abilities through the #automation of specific #tasks. ✅ The foundation for generative AI success involves robust #dataarchitecture for seamless #dataingestion, processing, and retrieval. Access to vast and diverse unstructured data is vital, with a focus on #datamanagement, #qualitycontrol, and #governance. ✅ To meet the intensive #computational needs of generative AI models, #cloud infrastructure offers scalable #computationalpower. It enables the #training and deployment of #models, #flexibility for scaling based on demand, and the use of specialised hardware accelerators optimised forAI tasks. ✅ Ensuring that generative AI can be used effectively at scale emphasises the importance of user interface and user experience design. A user- friendly interface is crucial to facilitate #humanAIinteraction enhancing accessibility, #userengagement, #trust, and #satisfaction. ✅ Integrating generative AI into business processes has significant implications for workflows and roles. Proactive management is essential, including training and #upskilling for #employees, workflow adjustments to effectively incorporate AI outputs, and the incorporation of a “human in the loop” approach when needed, ensuring AI-generated content is #accurate, #ethical, and #context-sensitive. #Bigdata #AI #ArtificialIntelligence #FinTech #Finserv #LLMs #NLP #Automation #regulation #regtech #AIEthics #AiBias ##AIRisk Mike Flache Tony Moroney Francesco Burelli Panagiotis Kriaris Dr. Martha Boeckenfeld Prof. Dr. Ingrid Vasiliu-Feltes Sam Boboev Nicolas Babin Nicolas Pinto Alex Jimenez Enrico Molinari Dr. Khulood Almani🇸🇦 د.خلود المانع Efi Pylarinou Amitav Bhattacharjee Dr. Debashis Dutta Segundo Ramos https://lnkd.in/gKiat9MD

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At SSUP World, we're inspired by Saudi Arabia's expanding digital and social media advertising potential. With an estimated market of around US$2 billion in 2023, the country leads the region in ad spending and significantly contributes to the projected growth of over US$12 billion in the MENA region by 2024. In light of this opportunity, our team prioritizes innovation and authenticity by embracing data-driven strategies and integrating AI advancements to deliver impactful marketing solutions. The greatest opportunities lie in leveraging AI-enhanced platforms like Meta, LinkedIn, and TikTok. A recent video by CNBC showcases TikTok's new AI Avatar feature, demonstrating how AI can drive innovative content and enable brands to create dynamic, personalized experiences. Check the video below shared by CNBC on TikTok's AI Avatar feature: #SaudiArabia #SSUPWorld #TechInnovation #TikTok #MarketingTrends

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For SaaS players in MENA targeting SMEs, Saudi Arabia’s Western Region is the hardest opportunity to capture a market but its also a massive opportunity, it offers major population centers that are geographically close yet economically diverse, spanning tourism, agriculture, education, and transportation sectors. Lots of SaaS operators build a traditional outbound sales team which usually lead to challenges, as it may lack the necessary focus and can’t capture fragmented segments. A more effective strategy that I seen work is a Product-Led Growth (PLG) with self-service capabilities, coupled with marketing that offers competitive pricing and is empathy to the local culture. Success of a SaaS in the Western Region can be transformative, opening up a wide market for those who navigate it well.

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Seeing a trend of more e-commerce firms selling ‘delivery subscriptions’. Why this is a genius strategy to study: The delivery subscriptions waive delivery fees for orders above a certain amount. Major companies like Talabat and HungerStation in the region use this model successfully. They’re not the first in MENA to do this either. Careem and Amazon Prime have similar offers. Because last-mile delivery and e-commerce are tightly linked, They know that it’s a necessary cost - and found a creative way around it. --- These subscriptions are essentially a marketing campaign: 1/ ⁠It makes consumers feel they’re getting a bargain. In reality the company absorbs last-mile delivery costs. 2/ ⁠It reduces cart abandonment, as high delivery fees are a common reason people abandon their carts. 3/ ⁠When you subscribe, you’re committing to buy from the SAME provider.  If not, you lose out on your fees, and the company earns without providing any service. By subsidising delivery on the condition that customers make an order,  Subscriptions act as a backward retention loyalty and lock-in scheme. 🔒 This makes it "sticky," keeping you coming back. It’s really quite clever. Though e-commerce companies provide logistical support, They tend to make their core revenue from product sales. Even if you don't typically buy much, you’re encouraged to shop more often. In theory the economics make good sense - but I’d love to hear from my network about the realities if this is true. What other creative strategies have you seen e-commerce firms employ?

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We are back! 3 months worth of data in 2024 to dive into. What does the #Q1 data indicate about MENA’s trajectory for 2024? 🤔 The MAGNiTT team recently released a comprehensive Q1 2024 MENA venture investment report, and here are few key highlights worth noting: - MENA saw $369M across 107 deals for Q1’24, marking a 24% decrease in deals and a 60% drop in capital compared to the previous year. - Despite this, the number of investors increased across the region with a focus on smaller ticket sizes. - MEGA round investments declined by 76% YoY, with @SallaApp's $130M round comprising 35% of total regional investment. - Saudi Arabia led in funding with 65% of total MENA investment, while the UAE and KSA remained top transaction markets despite a 13% YoY deal decline. - UAE M&A transactions continued to dominate, constituting 50% of MENA's exits. Dive deep into the full report for all the insights, accessible here: https://lnkd.in/dUh-_iRm #venturecapital #startups #MENA #investor #Q1trends

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🚀 Transforming the Startup Landscape in MENA 🚀 The MENA startup ecosystem is buzzing with activity! From UAE startups diving into Gen AI to companies like Rasan preparing to go public in Saudi Arabia, the region is showing incredible innovation. But, amidst these exciting developments, we face real challenges, particularly around funding and profitability. With VC funds tightening, startups need to be more strategic and realistic. Success isn’t just about having a groundbreaking idea; it’s about execution, sustainability, and creating real value. Profitability is crucial—it’s not enough to innovate; we must also ensure our ventures are financially viable in the long term. At invygo, we understand this balance. Our mission is to blend cutting-edge technology with practical solutions that are accessible and economically viable for our users. We’ve always prioritized creating a sustainable business model that drives growth while ensuring profitability. Local collaboration is key. By working closely with investors, partners, and tech innovators, we can navigate these challenges and ensure that our solutions drive real impact. The future of startups in MENA isn’t just about innovation—it’s about innovating responsibly and sustainably with a clear path to profitability. #StartupLife #Innovation #MENA #SustainableGrowth #Profitability #TechStartups #Invygo

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Why you need connections! I want to share my exciting discussion session with two visionary entrepreneurs, Fatimah Abdullahi and Navab Abdu, who have successfully established their companies in Doha! Their passion for innovation and growth is contagious, and I'm honored to collaborate with them as they embark on new ventures. As the CEO of DevBench, I'm committed to supporting their businesses through digital innovations that drive success. Our discussion revolved around the power of technology needed in the Qatar Market, and I'm eager to contribute my expertise to help them thrive. Fatimah and Navab's dedication to entrepreneurship and community building is truly admirable. Their willingness to collaborate and support new ventures is a testament to the spirit of innovation in Doha's business ecosystem. If you're an entrepreneur or business leader looking to leverage digital solutions to propel your growth, let's connect! I'm excited to explore opportunities for collaboration and support under the umbrella of DevBench. #DevBench #Entrepreneurship #DigitalInnovation #DohaBusiness #QatarEntrepreneurs #BusinessGrowth #InnovationHub

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I am thrilled to see Abu Dhabi’s remarkable achievement in being ranked as the fastest-growing emerging ecosystem in the MENA region. This recognition in the 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network is a clear indicator of our city’s relentless pursuit of innovation and excellence. Abu Dhabi’s startup ecosystem has seen an impressive 28% growth in ecosystem value, reflecting our city’s dynamic and supportive environment for entrepreneurs. The ecosystem’s ability to generate $4.2 billion in value and secure substantial funding underscores the robust infrastructure and resources available to startups here. The rise in rankings, particularly in performance and funding, showcases the strategic efforts of key players like Hub71, Abu Dhabi Global Market (ADGM), Mubadala Investment Company, ADQ, and the Abu Dhabi Investment Office (ADIO). The focus on sectors such as FinTech, AgTech and New Food, and ClimateTech highlights the diverse opportunities and specialized support available in Abu Dhabi. The presence of initiatives like the Golden Visa and the favorable regulatory environment further enhance our city’s attractiveness to global startups. The collaboration among various stakeholders and the unique incentives provided are key factors in attracting foreign investment and enabling startups to thrive. The success stories of companies relocating their global headquarters to ADGM, and the collective achievements of over 315 startups hosted by Hub71, are a strong reflection of the conducive environment Abu Dhabi offers. I am confident that with continued dedication and strategic partnerships, Abu Dhabi will further solidify its position as a leading destination for entrepreneurs with bold ideas and global ambitions. #AbuDhabi #UAE #StartUp #Entrepreneur #Hub71 #ADGM #MubadalaInvestmentCompany #ADIO #foreigninvestment #innovation

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Join me and Hossam Taher and Rafeh Saleh on Stage 2 at Startups Without Borders Summit today at 2:40 PM. We’ll be discussing exit strategies, what it entails and how to prepare for it. See you in a bit! Exits MENA

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As you may know, I recently joined the Sanabil 500 MENA accelerator program as a first-time founder of Octa. Just had my pitch on Demo Day last night, and - what an experience! 🚀 I wanted to share some of my learnings with you all and thought I can inspire someone who is also a first-time founder! 🌟 Key Learnings: ☑ Embrace the learning curve ☑ Build a strong network ☑ Stay resilient and adaptable ☑ Take initiative ☑ Celebrate small wins Embrace the learning curve Being a first-time founder is like riding a roller coaster with no seatbelt. There’s so much to learn every single day. I’ve realized it’s totally okay not to know everything. Staying curious, asking tons of questions, and learning from everyone around me has been key. Build a strong network The support from the Sanabil 500 MENA community has been amazing. Connecting with mentors, fellow founders, and investors has given me so much guidance and encouragement. Seriously, building a strong network is like having a superpower. Building strong relationships is key as the majority of these are driven by trust. Stay resilient and adaptable I have been doing this only for the last 4 months but I can really attest that startups are a wild ride with lots of ups and downs. Staying resilient and adaptable has helped me keep going. Focusing on the big picture and being ready to iterate when things don’t go as planned is so important. Take Initiative Being proactive is everything. Whether it’s seeking feedback, trying out new ideas, or tackling problems head-on, taking the first step has always led to progress. Don’t wait, just do it! Celebrate small wins Startup life is crazy busy, but celebrating small wins is a must. These little victories keep the team motivated and energized. It’s the small things that add up to big successes. I’m so grateful 🙏 for the opportunity to be part of the Sanabil 500 MENA accelerator program. It’s been a transformative experience, and I’m super excited about the future of Octa. Thanks to everyone who has been part of this journey! 🙌 Sanabil Investments 500 Global

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How do you give a $1.94 trillion company a run for its money? You create noon.com, the Middle East’s largest e-commerce platform, and compete with Amazon. That’s noon for you, founded and run by Mohamed Alabbar. You probably know Alabbar for his highly influential work with Emaar or Zand, but that’s not all. Here’s how Alabbar changed the e-commerce game in Dubai with noon, in under 60 seconds. Back in 2017, Alabbar decided to start noon. Alabbar started noon with Saudi Arabia’s Investment Fund and other investors with an initial investment of $1 billion. But wait. Why would the man who built the Dubai Mall, the world’s largest in-person shopping centre, switch to online shopping? It’s because Alabbar realized that the digital economy was everything. Alabbar had a vision to transform how people shopped in the Middle East. And so, Alabbar started building noon. But it wasn’t easy. In 2017, Amazon had bought souq.com for $580 million to enter the Middle Eastern e-commerce market. And so noon was competing with the world’s largest internet retailer. But this didn’t stop him. Alabbar expanded noon and kept growing it. In 2019, noon started operating in Egypt. Over the next few years, noon increased their product range, choice, and affordability. In 2021, noon announced plans to receive $2 billion in financing from investors throughout the Middle East, including Saudi Arabia’s sovereign wealth fund. In the same year, noon was getting 4 million daily users. By 2022, noon was making a revenue of more than $167 million. Impressive, right? In 2023, noon acquired fashion retailer Namshi for $335 million. But what makes noon different? Noon hasn’t just copied the established e-commerce brands of the West. Rather, noon collaborates with regional brands and retailers. Instead of following the popular Black Friday discount trend, noon came up with its own Yellow Friday. Noon has dominated the Middle Eastern e-commerce market in only a few years. Alabbar has conquered shopping in both the real and virtual world. A true techpreneur.

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Highlights from the Second CRM Community Meetup in Riyadh powered by CRM DXB https://lnkd.in/d4FkD6vN

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Microsoft to invest $1.5bn in Abu Dhabi AI group G42, ready to invest in technologies around the world 👇 The best part about this picture is looking at HH Sheikh Tahnoon bin Zayed al-Nahyan big smile!! Dear world, "Follow the money" USA is finally trusting the regulatory system the UAE has built thanks to places like Abu Dhabi Global Market (ADGM) and DIFC First Ray Dalio Then Apollo Global Management, Inc. Now Microsoft The USA is moving to the UAE. Do not get left behind. Microsoft has agreed to invest $1.5bn in Abu Dhabi artificial intelligence group G42, its latest big bet on the technology that underscores deepening collaboration between the US and United Arab Emirates. The agreement gives Microsoft a minority stake in G42, and its vice-chair and president Brad Smith will have a seat on its board. G42 chaired by the UAE’s powerful national security adviser Sheikh Tahnoon bin Zayed al-Nahyan, who oversees a sprawling business empire, G42 is central to Abu Dhabi’s AI ambitions and is backed by Abu Dhabi sovereign investor Mubadala. So who is coming to the UAE? May 29th & 30th Abu Dhabi Family Office Summit Sign up here: www.adfosummit.ae #AI #UAE #FamilyOffice Financial Times https://lnkd.in/dtVjSw5c

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