Viaka Newsletter: Positioning the MENA Region as an AI Hub
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Industry Focus: Tech Innovation and AI
Hi everyone! This week, we’re highlighting how the MENA region has been positioning itself as an AI hub.
The Middle East and North Africa (MENA) region has been gaining attention in recent years for its burgeoning tech startup scene. With a young and tech-savvy population, the region has the potential to become a major player in the global tech industry. In particular, the region has the opportunity to become a hub for AI startups, which are increasingly driving innovation and growth in the tech sector. In this post, we will explore how the MENA region can position itself to be a tech startup hub, especially for AI.
The first step towards building a thriving startup ecosystem is creating a supportive environment for entrepreneurs. This includes access to funding, mentorship, and a strong regulatory framework. In the MENA region, governments have recognized the importance of supporting the tech industry and have taken steps to create an enabling environment for startups. For example, Dubai has launched several initiatives to support startups, including the Dubai Future Accelerators program, which provides startups with funding and mentorship from government entities.
Another key factor in building a successful startup ecosystem is access to talent. The MENA region has a young and highly educated population, with a large pool of tech talent. However, there is a need to further develop the skills of the workforce to keep pace with the rapidly evolving tech industry. Governments and private sector players can work together to provide training and upskilling programs that can help to bridge the skills gap and ensure that the region's workforce is equipped with the latest tech skills.
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In addition to creating a supportive environment and developing talent, the MENA region can also leverage its unique strengths to become a hub for AI startups. One of these strengths is the region's large youth population, which is highly tech-savvy and open to new technologies. This provides a fertile ground for the development of new AI startups, which can tap into the region's young and dynamic consumer base.
Another strength of the MENA region is its strategic location at the crossroads of Europe, Asia, and Africa. This provides access to a large and diverse market, which can be a valuable asset for startups looking to scale and expand their operations. The region's geographic location also makes it an attractive destination for investors, who can benefit from the region's unique position as a gateway to multiple markets.
Finally, the MENA region can position itself as a hub for AI startups by fostering collaboration between startups, investors, and academia. By creating a vibrant ecosystem that encourages collaboration and knowledge-sharing, the region can foster innovation and drive growth in the tech industry. This can be achieved through initiatives such as hackathons, startup competitions, and accelerator programs, which bring together entrepreneurs, investors, and experts from across the region and beyond.
In conclusion, the MENA region has the potential to become a major player in the global tech industry, especially in the field of AI startups. By creating a supportive environment, developing talent, leveraging its unique strengths, and fostering collaboration, the region can position itself as a hub for tech startups and drive innovation and growth in the industry. With the right investments and support, the MENA region can unlock the full potential of its young and dynamic population and become a leading player in the global tech industry.
Sources:
https://www.wamda.com/2023/01/mena-better-hub-tech-startups
https://www.wamda.com/2023/02/mena-adopt-ai-speed-scale-recommended
Promising Opportunities from Our Partners
New opportunities added in March 2023
To advise:
eComz is looking for experts in lead generation & sales expansion into new MENA markets, particularly KSA.
Designer-24 is looking for expert advice to help them build a strategy and template to effectively franchise their model in smaller MENA markets.
To invest in:
Anecdote is raising a seed round to continue building out their AI platform that Instantly brings qualitative customer insights to product and CX teams.
To receive investment from:
533 Syndicate is looking for promising founders across stages and industries. Ticket sizes as low as $20K and as high as $100K.
Click on the button below to see all current opportunities & get involved:
Exciting Announcements From Our Network
Below is a list of updates, wins, and asks emanating from members of the Viaka Network in the “West.”
Attend Viaka’s Panel discussion “MENA Builders in AI Across the World. As part of its monthly webinar series, Viaka is bringing together 4 of leading AI builders with connections to MENA to talk about their work.
Sign up for Viaka’s April Demo Day! April’s Demo Day will focus on MarTech and Audio startups — there is an exciting line-up of founders and investors. Sign up and learn more here!
LebNet is looking for female leaders interested in joining their leadership team. For more information, reach out to jakiki21@gmail.com and let her know that you heard about the opportunity through Viaka!
Viaka has announced it’s in-person events in Boston and NYC, and this month we’re covering drinks! Join the network below and look out for the exclusive invite.
If you’re a member of our Network and would like to share your own update next week, email info.viaka@gmail.com or submit an update via this form.
Read of the Week
Viaka has launched a Network Reading List, where Network members are encouraged to submit media suggestions of their own.
Our suggested read this week is this piece from Clear World. The piece is the 2023 MENA early-stage data handbook.
Weekly News Digest
Check out our weekly digest — we provide news from all across the MENA startup ecosystem, every single Friday. Be sure to follow our LinkedIn and Twitter for more.
That’s it for this week. Thank you! 👋
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