Ten Life Lessons I Adopted At Business School

I’ve spent all of 2014 in an intense one-year MBA program at INSEAD. Some say grad school is a bubble in a mystical, magical world with its own rules- and it’s probably true. Underneath those Poisson’s distributions, behind those jokes that only grads laugh at (or find remotely funny), above those excursions, and inside those classrooms, there were a few lessons that kept reoccurring throughout the year. There are a list of things that I think resonated with every conversation, event, and discussion that took place over the course of a very eventful year.

1. FROM THOSE TO WHOM MUCH IS GIVEN, MUCH IS EXPECTED
Being privileged to be able to attend such a program (and probably more than 50-75% lucky) gives us the huge responsibility of high expectations- not only of ourselves, but to our communities and the world at large. We owe it to the less privileged to alleviate their situations- be it societal or environmental. Live. Dream big. And make an impact.

2. SEEK FAILURE. PLENTY OF IT.
Failure is seen quite differently in different parts of the world. Wherever you are, embrace failure and even seek it out. There’s something about the safe environment of trial and error inside a MBA program, and that is found in very few places outside of business school. No one will judge, they will probably celebrate your failure with a toast. A dear friend of mine had a comfortable dragging job for more than five years, and then overnight he was made redundant. There is a chance that you’ll fail doing what you don’t like doing, so why not take a chance on failing at what you truly love?

3. DON’T PAY A DIME FOR (ONLY) EDUCATION
Having spent a lot of my monetary and other resources on school, I’ve realized that paying for just knowledge is useless. Academic information can be found online and free of charge (start by Googling “How to…” and “What is…”). What is worth the investment is having the privilege of debating and sharing this content with more than 70 of your peers from various backgrounds. This is all orchestrated by a professor who oversees things in various capacities. These scenarios are priceless, and that’s what you pay for, amongst other goodies like networking, access to alumni, new and beneficial ways of thinking, and free-flowing coffee fountains.

4. WELL-ROUNDED? THANKS, I’LL PASS
There’s a lot of hype on being well-rounded, and on focusing on those weaknesses so that you can be all nicely turned out. I’d venture to make a bold statement: no one who has ever amounted to something in history of mankind was a generalist. Specialize. Focus on those strengths. Show the world both your magnificence and your weakness in all their glories.

5. FORGET ABOUT WHERE YOU CAME FROM
It’s irrelevant really. Everyone has been everywhere, even if they haven’t. You are the places you visited, the cultures you read about, and the people you’ve talked to and interacted with. You’re much more international that you think. UAE and Bahrain do not define you, and neither does France, Madagascar or Brazil.

6. RISE UP FROM THE DREAM DEPRESSION
The Great Depression happened in 1930, when the economy was at an all-time low. We are now living in the dream depression- we’ve depressed our dreams to fulfill everyone else’s consulting and banker prophecies, except our own. Let’s dig up those hidden dreams. Let’s be that painter, that foodie entrepreneur, that social impact worker, let’s disrupt the music industry, and let’s bring healthcare to those in need as social enterprises.

7. INVEST IN HUMAN CAPITAL
The biggest investment you’ll ever make is people. You’ve probably heard that before, but there’s no richer investment than that of maintaining and cultivating relationships. I’ve seen great ideas fail because of the team executing them, and on the flipside, simple ideas disrupt because of the people working the concept. Decision making is solely a human element and will continue to be; partnerships, pivots, successes, and failures revolve around people. Have a good team, a good partner, and the rest will hopefully flow.

8. HELLO, SHALL WE HEAD TO IBIZA AND TALK?
Getting to know people on a personal and professional level is no longer only happening in the classroom or in professional workshops. It’s happen- ing on those weekend excursions, in that little coffee shop in Cartagena, or on that private island. So invest in those treks with likeminded people. It might seem ludicrous, but never underestimate the power of people thrown together to bring out their essence– the good, the great, and the awesome.

9. THE MOST VALUABLE CURRENCY
The effect that you have on others. It’s not about you. It’s about that new kind of legacy that gets passed on instantly. The kind that makes people want to present their best selves when they’re in your presence. When you see great people doing awesome things in the program (and elsewhere), that only makes you want to go forward.

10. THE ROAD TO INCONVENIENCE
Ever heard of no pain, no gain? If you’re ever trying to decide whether to make that next step or not, ask yourself if you’re going to be inconvenienced. If the answer is yes, jump in with both feet. Prepare to take a hit on several parts of your life. Nothing worthwhile ever came from sitting around and doing a cozy, comfortable job.

The time to act has always been now. We are the people we’ve been waiting for. Let’s show the world how it’s done.

Women In STEM 2015 Honors Contributions

17th Arab Investors and Businessmen Conference to be held in Abu Dhabi in November

The UAE Ministry of Economy has announced that the 17^th edition of the Arab Investors and Businessmen Conference will take place in Abu Dhabi on November 11 and 12, 2015. This year’s installment of the pan-Arab economic and investment event has been themed “Investment in Innovations and Entrepreneurship,” and it is hoping to build on the success of its previous editions- the conference is expecting to host over 1,000 investors from across the region, as well as executives from financial institutions, business chambers and other institutions. The event is being held under the collaboration of the UAE Ministry of Economy, General Secretariat of the Arab League, Federation of UAE Chambers of Commerce and Industry, General Union of Chambers of Commerce, Industry and Agriculture of the Arab Countries, and the Arab Investment and Export Credit Guarantee Corporation.

Students Create Heroes App To Connect Cancer Patients And Survivors

According to the World Health Organization (WHO), cancer was the cause of 8.2 million deaths worldwide in 2012 alone.

Fairiha Khan shared her experience of losing a parent to the disease, and how having a support system is essential; her team would later enter Microsoft’s Imagine Cup competition with what she hoped was “something that will have a global impact.” This is where the Heroes app comes in, an online community platform to bring together cancer patients and survivors, and their friends and family members. The 22-year-old project manager is joined by fellow University of Wollongong in Dubai (UOWD) students and grads: 29-year-old Abubakar Abdulbasit as back-end developer, 23-year-old Ashiqur Rahman as front-end developer and 22-year-old Artaza Aziz as back-end developer.

The app encourages positive thinking through their forums where users are reminded to be grateful and give back to society, as well as a medical updates forum. Other features also include being able to find other users based on the type of cancer or by user location, the option to add different users as emergency contacts, categories based on cognitive therapy research that help to reinforce positive behaviors, and inspiring posts that can be added to a scrapbook. To get the word out, they plan to use social media, as well as working with hospitals and medical practitioners “to introduce us to more patients- so they can test the app and help us develop it according to their needs.”

After launching in April 2014 at the Microsoft Imagine Cup competition and securing third place, three competitions later, the app has made its rounds placing second in the Microsoft Hackathon, and competing in the GITEX Student Competition. Currently in beta phase, the developers say that the competitions have helped them get feedback from both users and experts about the app, and also glean suggested app additions. The developers are still weighing options as how to monetize on Heroes, and since it currently only functions on Microsoft’s platform, their 2015 agenda is focused on getting it on multiple platforms.

Bahrain Sells Government Debt Through Its Stock Exchange

It looks like the tiny island Gulf state is already feeling the heat from the plummeting oil prices. Whether one calls it an interesting improvisation or an act of desperation, Bahrain has officially opened the sale of its government debt through the Bahrain Bourse. This is something that has never happened in Bahrain, let alone the region, as the Kingdom previously sold debts to banks that would then sell them off to external investors. As of January 18, local or foreign investors can buy stock (or sukuk if they subscribe to Islamic banking). Interested investors will have to subscribe a minimum of 500 dinars (US$1326), and those who go for 10,000 dinars ($26,526) will be guaranteed a return on that amount plus additional returns pro rata, or on a proportional basis. Bahrain is selling 100 million dinars ($265 million) worth of a decade’s sukuk, with an annual return of 5.50%. Could this new scheme help revitalize Bahrain’s economy during troubling times for oil? We’ll keep our eyes peeled.

Palestine Pursues Joining The ICC

Over the past few years, the world has been kept on the edge of its seat as the Palestinian Authority tried to tip the scale of the Israeli occupation by having its own seat in the United Nations (UN). Most will recall its attempt of becoming a member state at the UN General Assembly, but were only granted the status of observer non-member state alongside the Holy See. Palestine also was voted in to become the UNESCO’s 195th member state, the UN’s cultural arm. The United States and Israel tried to turn things around by not paying their UNESCO membership dues as a result of the decision, but only ended up losing their voting rights. Just last December, a bid for Palestinian statehood was rejected at the UN Security Council after a U.S. veto. Ever since, analysts have been going on about the prospect of Palestine joining the International Criminal Court (ICC), not to be mistaken with the UN’s International Court of Justice (ICJ).

Hoping to hold Israel accountable for its illegal settlement expansions and war crimes, on January 2, 2015, Palestine signed the Rome Statute, the treaty that founded the ICC. Israel and the U.S. were initial signatories despite having their reservations about the treaty, but both decided to not ratify it and opted out. UN Secretary General Ban Ki Moon stated that Palestine is expected to become a member of the ICC as of April 1, 2015, despite many expecting the ICC to reject Palestine’s application.

So what happens next? The ICC confirmed that Palestine has asked to exercise its jurisdiction over crimes committed in the Palestinian territories of Gaza, the West Bank, and East Jerusalem as of June 13, 2014. That day was when Israel started a massive indiscriminate roundup opera- tion in the West Bank, after the kidnapping and killing of three Israeli boys. Soon after, Israel launched its latest offensive on Gaza from July 8 until August 26: Operation Protective Edge. According to the UN Office for the Coordination of Humanitarian Affairs (UNOCHA), 1,523 civilians were killed. This is in an addition to illegal settlement expansion in the West Bank and East Jerusalem, an issue that has been condemned by most world powers and the UN for years.

Of course, it’s not all that easy. Historically, the ICC hasn’t really been proactive on handling issues related to the occupation of Palestine. Many analysts also claim that the court would be more inclined to try Hamas lead- ers than senior Israeli officials; it is an easier thing to do given that most countries see Hamas (or at least parts of it) as a terrorist organization. But should the court decide that Israel’s crimes are grave enough, a very long and thorough investigation will need to be conducted on the crimes and on the accused. And unlike the ICJ, the ICC doesn’t have an enforcement body, like a police force, to implement the court’s arrest warrants.

There are many other problems that Palestine could face; this is just scratching the surface. The U.S. and Israel have also been working hard to delegitimize and quell the situation. Firstly, Prime Minister Benjamin Netanyahu froze Israel’s monthly transfer of US$125 million in tax revenues to the Palestinian Authority (PA), meaning that the PA will now struggle to pay salaries to thousands of workers. Across the Atlantic, American Senator Lindsey Graham stated that the U.S. would continue to hinder Palestine’s statehood aspirations, in addition to potentially cutting its annual $400 million funding to the Palestinian Authority.

Though the consequences President Mahmoud Abbas and the PA might face sound immense, ICC recognition could be a huge step forward for Palestinian statehood and sovereignty in the long-term. It’s just a matter of how things play out in the coming months… or years.

Algeria To Announce Revitalized SME Law

Algeria’s Minister of Industry and Mining, Abdeslam Bouchouareb, announced that a new and effective law on SMEs would be presented to the parliament in Algiers “soon”. This law couldn’t come at a better time; an SME “upgrading program” was launched in 2012 and hasn’t delivered the goods as promised, despite allocating US$4.3 billion for 20,000 SMEs.

Turns out that only about 4,000 have signed up for the program, according to Algeria’s own National Agency for SME Development (AND-SMEs). It’s worth mentioning that AND-SMEs was established back in 2001, which seems slightly ahead of its time. Various sources claim that 95% of Algeria’s businesses fall into the SME category, so will this new law help AND-SMEs make some real progress in the enterprise space? Let’s hope talk leads to action.

Five Minutes With Zainab Alsalih, Founder Of Carousel Weddings

“Passion, creativity and perseverance.” That’s how the founder of Carousel Weddings describes an entrepreneur. After leaving the corporate world to start up her company, Zainab Alsalih put her banking background (along with a healthy dose of excitement for her business) to work: “I manage with commercial and financial diligence, and the combination of the two is vital.” To run an enterprise successfully, Alsalih is a big believer in “loving what you do, who do you it for, why you do it, and then surrounding yourself with people who share your passion.” As a wedding planning company catering to different nationalities and cultures, she insists on not having a “go-to template”, but instead personalizes each concept to a couple’s taste and of course, certain nuptial traditions. An eye for detail is a must-have trait for the event industry, and she tries to balance that with being “very hands-on, without micro-managing.” What would Alsalih say is the region’s biggest entrepreneurial challenge? “Finding opportunities that are truly cross-cultural.”

What prompted you to launch a wedding planning business?
I have always loved making people happy. There’s something deeply gratifying about bringing people joy and sharing it with them. I knew whatever I did, it needed to give me the opportunity to make people happy, and the opportunity to make a positive impact on people’s lives.With time, I began to better understand and appreciate my strengths: an artistic flair, a gift for communicating, and an almost obsessive attention to detail.

What setbacks have you experienced?

What’s a current popular trend in weddings?
What’s old is new again.A lot of people are going back to tradition. I think people are now looking to have a timeless wedding instead of a wedding that is filled with fads that may not look good in a few years. They do not want to have a “What was I thinking moment?” We want to help our couples have truly stylish weddings, and not necessarily trendy or fashionable ones.

What advice do you have for women who want to start up their own venture?
Do it with passion or not at all! This is one of my favorite quotes, which I think applies to any business you wish to start. You must be passionate about what you do. Only then can you do it well. Wedding planning has a certain charm to it, and people think it would be a “fun” job, but the truth is, it is very, very hard work, and there is a tremendous amount of responsibility on your shoulders.If you are not meticulous, hardworking, and deeply passionate about it, you will not do well.

In your opinion, how much “risk-taking” personality characteristic is involved in being an entrepreneur?
A great deal. The risk isn’t merely a financial one, rather, it’s the risk of failing.The fear of that risk can often be a powerful motivator, and is sometimes needed to push yourself through the hard times.

What is your source of personal motivation?
In a world with so much sadness, I am motivated by making people happy – and sharing their happiness.

What is your daily routine like?
A typical day for me is spent at the studio designing and planning the weddings on hand, researching new products, materials, trends, and ideas and liaising with various vendors and suppliers. I do a lot of running around sourcing materials and elements for my brides. On many days, you will find me with brides on site visits, dress, hair and makeup rehearsals or food tastings. I spend a lot of time with our floral designers, designing and selecting centerpieces and floral displays for our weddings. However, my favorite time of the day is presenting concepts and setting up mock tables for new brides and seeing the twinkle in their eyes when they begin to see the first glimpses of their vision turning to reality.

What device or apps do you often use?
I used to be totally addicted to my BlackBerry, but have migrated to the iPhone– and now my iPhone 6 and I are simply inseparable. It’s terrible, I know.

Engineering Success: Moutaz Al Khayyat, CEO, UrbaCon Trading & Contracting

For a company that was established only in 2011, UrbaCon Trading & Contracting (UCC) has been extremely quick in making a name for itself in the construction industry landscape of Qatar, and indeed, the world as well. After all, the Doha-based company was recently ranked number 184 in the 2014 list of the Top 250 Global Contractors of the world as compiled by Engineering News-Record, with the construction industry-focused American publication noting that UCC had raked in a total revenue of US$1,192 million in 2013.

A cursory look at the several projects that UCC has been involved with in the past few years is enough to understand how the company has become one of the most influential contractors in Qatar. Heading UCC’s impressive portfolio is the development of the Mall of Qatar, which, when completed in 2015, will be the largest shopping mall in the country. Other noteworthy projects UCC has been associated with include the Banana Island Resort by Anantara, the Lekhwiya Stadium at Al Duhail, and the Sheraton Doha Hotel and Convention Center.

“We have undertaken a diverse array of projects over the last three years, ranging from palaces, hotels, football stadiums, marine works, underground car parks and island reports,” said Moutaz Al Khayyat, CEO, UCC. “Currently, UCC has many projects on the drawing board and under tender, ranging from resort complexes such as at Salwa, waterfront developments, football stadia, and of course, the completion within this coming year of one of our flagship properties, the Mall of Qatar.”

When asked about the reasons behind UCC’s current high standing in the market, Al Khayyat pointed toward the commitment the company makes with its clients to ensure that their projects are completed in a safe, professional manner on time, in budget and in compliance with the highest quality standards. “UCC has set itself apart from its peers with its ability to successfully perform and deliver a wide range of diverse projects on a design build turnkey lump sum basis,” Al Khayyat explained.

“UCC has achieved this by employing experienced professional staff at all levels, by building up a substantial in-house workforce of skilled workers, and by developing an extensive procurement chain in the local and international markets.” Commenting on UCC’s rise to the top, Al Khayyat paid tribute to the company’s well-established heritage, as it is an offshoot of the very successful Al Khayyat Group. “Our motto, ‘We Build Trust,’ in fact, originates from the vision of the [Al Khayyat] family many years ago when the business was first founded in Syria,” he said. “Throughout the last 30 years, we have maintained this vision, and [we] aim to fulfill it with our continued sincere commitment to the requirements of our esteemed clients. UCC continues to carry forward this legacy.”

And to his credit, Al Khayyat made sure that UCC lived up to the grandeur associated with his family’s name in a rather short span of time. The company may have launched in 2011 with a workforce of just 1,000 people, but today, UCC boasts of more than 12,000 employees, with its rapid growth also fueling the spawning of several subsidiary companies dealing with a variety of specialist activities, which include everything from design to marine works. And this kind of diversification is something that’s bound to work out well for UCC in the long run- after all, there is the matter of Qatar’s National Vision for 2030. “Qatar’s National Vision 2030 is built around the four pillars of economic, social, human and environmental development,” Al Khayyat explained. “Development aligned with this vision will entail growth in all sectors. UCC has already developed from being just a design build turnkey contractor to [becoming] a diverse portfolio of companies all aligned with the vision for the development of the country for the benefit of its residents.

Further areas of interest aligned with the vision is the anticipated growth in hospitality, healthcare, education, manufacturing and farming. While UCC is already engaged in some of these sectors, further growth and diversity is a strong possibility at this time.” The upcoming FIFA World Cup in Qatar in 2022 is also playing a key factor in the growth plan Al Khayyat has for UCC. “There are many projects to be completed in line with the FIFA World Cup and the National Vision requirements,” he said. “We are confident that UCC will undertake its share of these projects, and considering that we have [now] established the company’s reputation, we can build on it to ensure further compliance with our motto and vision. As we have seen in other Gulf countries, the current investment into the country will not only provide opportunities for construction, but also multiple growth in all sectors, which will be a very positive environment for Qatar and its people.”

But that is not to say that the future is going to be all smooth sailing either. “One of the most obvious challenges facing the industry in Qatar is the availability of materials,” Al Khayyat noted. “Many materials are required to be imported [right now], and currently, this in itself potentially poses problems at border crossings and ports.” However, Al Khayyat is hoping for some relief on this front very soon as well. “The opening of the new Doha port will, of course, be a great asset for the country,” he explained. “Also, the recent initiative to develop the infrastructure for new economic zones adjacent to the airport and the seaport will encourage tremendous business development, provide substantial growth opportunities, employment for many residents, and, of course, a more readily available source and selection of products for all industries.”

Given the sheer range of sectors and the variety of projects UCC works with, one can’t help but wonder about how Al Khayyat successfully runs what by all accounts seems to be a well-oiled business enterprise. “My leadership strategy is very simple,” he declared. “Honest, hard work, attention to detail and quality assurance of the end product. These principles ensure that we continue to build trust with our esteemed clients. We, as a group of companies, know that we can undertake any challenge and succeed by adhering to these basic principles.” And it is this belief in the company and its founding principles that allows Al Khayyat to dream big when it comes to the further development of the UCC brand. “While our brand is now quite diverse, we are looking into the future to expand more into healthcare, and to expand and merge our hospitality and real estate opportunities,” he said.

“We are [also] looking closely at the education sector and certain manufacturing opportunities, including dairy products. All business endeavors follow the process of due diligence and careful market research, and are [also] aligned with the anticipated growth of the country.” And it’s not just Qatar that Al Khayyat has in his sights. “While the majority of UCC’s projects are within the state of Qatar, we do already have projects in London, Morocco and Oman, and related businesses within the UAE,” Al Khayyat revealed. “UCC is also looking to expand to other markets, as appropriate opportunities arise.” Given its track record over the past few years, UCC seems to have struck gold with all of the opportunities it has found in the market so far, and so, it certainly looks like Al Khayyat will be overseeing the continuation of this trend over the next couple of years as well.

One issue that has received a lot of media attention in the recent past has been the poor treatment of migrant construction workers in Qatar. With respect to UCC, what is your take on your issue, and how have you gone about ensuring the welfare of your employees?

“Any successful business depends on its employees- these are the assets of the company, and this extends from the managers to the laborers. At UCC, we have developed workers’ accommodation that provides a safe, clean environment where employees can refresh themselves after a day’s work, with shops, mosques, kitchens, laundries and recreation areas. UCC also has its own clinic with certified doctors and nursing staff available on a 24-hour basis within the complex. In addition to this, all UCC employees undergo a thorough safety induction process and are equipped with all necessary personal protection equipment prior to entering any of the work sites. UCC also respectfully follows the summer mid-day working restrictions and provide re-hydrants to the workforce during the difficult summer months.”

With sustainability becoming an increasingly important face of real estate projects in the middle east, how has UCC with sustainability becoming an increasingly important facet of real estate projects in the middle east, how has ucc gone about implementing such green principles in its projects in Qatar?

“Sustainability and environmental considerations are [becoming] increasingly more important in all projects. UCC is already an affiliate member of the Global Sustainability Assessment System (GSAS), and [it] looks together with its design partners to provide value engineering at every opportunity, reducing construction material requirements, together with low energy options, solar power options and recycling of waste. Currently, within UCC worker camps detailed design studies are in progress to process waste and in return, generate heat and energy, this in turn reducing the requirement for generators and in the process, fertilizer is generated as a byproduct. Within UCC’s expansive construction fleet, trials are also under way with hybrid additives developed in Australia that provide for a more efficient use of diesel, and, in turn, reduce harmful chemical release into the atmosphere. UCC and its affiliated companies are committed to enhance sustainability of all projects and areas of the business at every opportunity.”

Flat6Labs CEO Ramez M. El-Serafy: Abu Dhabi’s Ecosystem Just Erupted, And Your Startup Might Fit The Bill

“Abu Dhabi is a perfect fit as a rapidly growing market. Abu Dhabi has more than US$100 billion earmarked for education, housing, and transportation under its 2030 Economic Vision. Abu Dhabi is also ranked 23rd of 189 economies for ease of doing business. The UAE is a highly conducive digital market with 78% smartphone and 94% Internet penetration- among the highest rates globally. Beside the ample government support in Abu Dhabi, twofour54 has successfully become the home to leading media companies and a growing production base for Hollywood films. Also, Abu Dhabi is now becoming home to large industrial companies that could benefit from innovations generated by startups.”

That’s what Flat6Labs CEO Ramez Mohamed has to say about why they’ve chosen Abu Dhabi as their newest venture-base. Mohamed agrees that the newly appointed Managing Director of Flat6Labs Abu Dhabi, Nina Curley of startup-centric Wamda fame, is perhaps what one would call a dream fit for the operation. Her extensive background and network is one of the biggest value-adds of the region’s new accelerator. Mohamed smiles as he mentions the flurry of headlines that accompanied the announcement of Curley joining the company. “She just recruited 50 mentors for Flat6Labs Abu Dhabi; mentors on design, mentors from LinkedIn, Facebook. She’s amazing!”

The question, as Mohamed puts it, is not why not Dubai, but rather why not Abu Dhabi. He doesn’t agree with the pervasive idea that Dubai is considered the region’s Silicon Valley. He points out (correctly) that while the upper management or business development startup personnel are often based in Dubai, their actual production hubs are based throughout MENA in their home cities that are much more affordable, and afford them a multitude of plusses: “You can’t say that Dubai is a ‘startup hub’. You can say that it’s a place to find opportunity to start a business, to scale and to develop your business. Abu Dhabi is similarly very well positioned, and we saw that no one was making use of that. As Arabs, in our home countries, we know the talent, we have market access, we know how to do things there, and we are good at it. We always make use of this as a good sell to investors when talking about our startups. So, as a founder, when my development office is in Beirut or in Cairo or in Amman, I’m paying them way cheaper than what I would in Dubai or London or San Francisco.”

The 30-year-old CEO’s background in technology spans various arenas over a 10-year period; he’s worked in mobile applications and software, and his passion for the MENA startup scene is enough to keep you riveted while he opines on everything from the somewhat pervasive startup “entitlement” attitude to where he sees deficiencies, and still better, where he sees potential for growth and expansion. Prior to being recruited by Flat6Labs for the regional CEO position, he oversaw and developed the mobile business app area of Sarmady, a Cairo Vodafone Company. A Computer Engineering graduate of Alexandria University, Mohamed is extremely engaged in the space- a day after this interview took place in the UAE, he was off to participate as a panelist at BDL Accelerate 2014 in Lebanon, a two-day startup conference. He is, like many successful people, realistic about the kind of time investment it takes to do things well. This isn’t to say that just because he works “between 16 to 18 hours a day”, and doesn’t take weekends off that he expects startups to do the same: “I’ve been thinking about this a lot- I don’t want to be preaching about work-life balance and then doing something different. A huge part of my life is my career and seeing the company grow and progress. Almost all of my friends have the same work cycle I do.”

He’s also got personal startup experience: “It was nothing exciting, but we made some good money.” And now he’s got the professional experience- all of these factors combined, paired with Mohamed’s realistic enthusiasm helps propel Flat6Labs as a whole, and subsequently their startups case by case. “Two of our great success stories are Egypt’s PieRide –they’ve created a community and they’re addressing the traffic problem- and Nafham. Nafham is one of the biggest educational platforms in the region; they have more than 15,000 videos on their website now. More than 100,000 lessons are watched on Nafham per day, and they’re partnered with Google and Intel.” Nafham graduated from Flat6Labs Cairo’s second cycle, and the videos covering Egyptian, Saudi, Syrian and Algerian school curricula are aggregated by teachers and volunteers. There are more than 4,000 crowdsourced videos “growing at a rate of 70% per annum, Nafham is undoubtedly positioning itself as the leading educational platform in the MENA region.” Mohamed also mentions KSA- based Sawerly as a significant success story from Flat6Labs Jeddah.

“Sawerly graduated from Flat6Labs Jeddah’s first cycle as one of the first online marketplaces to book photographers in the KSA and the greater MENA region. Sawerly has been making great strides and expanded their database to over than 350 photographers, and delivered tens of photo shoots across the Kingdom in the past few months. Sawerly have made numerous media appearances, attended many conferences, and recently won the first place prize for ArabNet Riyadh 2014 and the Get in the Ring Competition in Saudi Arabia.”

Flat6Labs – Accelerating Entrepreneurship from Flat6Labs on Vimeo.

Launched in Cairo in 2011, Flat6Labs celebrated their three-year anniversary in October of last year. After Cairo, Flat6Labs Jeddah was developed in partnership with SME-champions Qotuf Al Riyadah in KSA. Their new base in Abu Dhabi isn’t the only announcement; late last year they announced that an early stage investment company is on the agenda. The goal? To invest 50 million Egyptian pound (approximately $7 million) in 100 startups over the next five years. In the same announcement, Flat6Labs also stated that they have plans to get even bigger with later expansions across MENA, including Turkey.

What does it take to make Mohamad warm up to your startup idea? “I don’t look at the startup as a ‘person’. I don’t feel like I have to be personally attached to the startup or like them to be able to deal with them on a daily basis. It’s mainly about the team: are they really passionate about this? You can really see it in their eyes- are they hungry to make this work? Do they know what they need to get this up and running? Do they have the skills? Do they have the right people on their team? Some startups haven’t even Googled the competition; they don’t know the market that they’re trying to enter! This is the most frustrating part of our work- they don’t do the research to see and understand what they can offer better than their competitors. We mainly counsel our startups to be as professional as possible- we have many sessions and mentors on everything from communication to the more detailed parts of business. We offers training and tons of sessions.”

Ultimately, Mohamed is clear on what the new accelerator sees as a recipe for successful startup candidacy: your business needs to have the right elements, in the right order, and that includes dedication and know-how. If your startup has the potential, then they’re behind you all the way with everything from skill-building to financing. Startups heading to Abu Dhabi, you’re about to capitalize on the region’s newest (and possibly most proactive) ecosystem in the region. Their philosophy starts at the very top, and it pervades every aspect of the process.

By the Numbers

57 The number of companies created across Egypt and KSA by Flat6Labs jeddah and Flat6Labs Cairo.
160 The number of entrepreneurs behind these same companies.
15 Amount in millions of Egyptian pounds raised in funding in Egypt alone. 400 The number of jobs created in KSA and Egypt by these companies.
50% The percentage of Flat6Labs companies registered regarding their follow-on funding rate.
40 The number of different investors from across the globe to date.
60 The number of mentors and speakers available to provide tutelage to Flat6Labs startups, in addition to more than 30 local, regional and global partners, prior to the launch of Flat6Labs Abu Dhabi.
7,000 The number of training hours given to Flat6Labs startups over a three-year period since inception.
80 The number of companies Flat6Labs Abu Dhabi is targeting for launch over the next four years.

Executive Summary

Partnership

“Flat6Labs Abu Dhabi will utilize twofour54’s local expertise and facilities combined with insights from Emirati business leaders, global technology experts, local and regional investment experts and leaders to be one of the fastest and easiest routes to set up digital businesses in the UAE. twofour54 has also seen Flat6Labs as one of the best accelerator models in the region to grow a startup ecosystem based on innovation in the capital of the UAE. twofour54 is supporting Flat6Labs Abu Dhabi with seed capital, facilitated licensing, and regulatory services, office space, access to media production facilities, exposure to twofour54’s network of experts and mentors, integration with twofour54’s training programs and access to venture capital for graduated startup companies.”

Mission

“Flat6Labs Abu Dhabi’s vision is to be a global hub for digital innovation that will support a generation of entrepreneurs from the UAE and abroad to launch media and digital businesses in Abu Dhabi, and scale to regional and global markets.”

Who

“We accept startups in any stage: idea, prototype or released product. Its main focus will be on digital content and ecommerce, social media and citizen journalism, media and video production, and mobile applications. Flat6Labs Abu Dhabi will be open to any entrepreneur from around the world to apply. We don’t have specific quota based on a certain demographic, although we would love to see more local entrepreneurs applying to join the program as we always work closely with different local ecosystem stakeholders in markets we operate in to support local entrepreneurs. We believe that the community is the main pillar for the long-term success of any accelerator program, so we are planning several programs and activities to engage the local community and encourage local entrepreneurs to launch their businesses through Flat6Labs Abu Dhabi.”

Benefits

“We will provide each one that joins Flat6Labs Abu Dhabi accelerator program with seed funding of up to $50,000 for equity of 10% to 15% with opportunity for matching funds upon graduation. We are also providing them with a large array of services like strategic mentorship, a creative workspace, legal support, a multitude of perks that are worth more than $300,000, facilitated visa acquisition, licensing, and regulatory services, entrepreneurship-focused business training, and directly supporting them through an expansive network of partner entities, mentors and investors.”

Criteria

“We usually focus on three main criteria when selecting teams to join any of Flat6Labs’ programs. Firstly, the idea; how innovative and disruptive it is. Secondly, the market; how big the target market is, the potential for growth and scaling, and how the competition looks like. Third, the most important of all is the team, its members’ background, and if they possess the skills needed to successfully build the product, enter the market, and scale the business in the future.”

Intake

“Our model is based on an accelerated pace of investment cycles. We will be running four month cycles twice every year- in each cycle, we are expecting to accelerate 10 startups. We opened the application of the first cycle during the Abu Dhabi Media Summit in November and we expect to start our first accelerator cycle in this quarter.”