Khaled Zaidan has worked as an investor in Saudi Arabia for the past 10 years and has witnessed the changing investment landscape. An early proponent of venture capital and startups, a mix of initiative, hustle, and investment savvy has recently landed him the position of Head of Alternative Investments at Watheeq Capital. Words on a page don’t always do justice to this type of thing, but I hope Khaled’s passion for the space, and excitement for his new role shine through in the interview below. I’m sure those of us that follow this sector in the region will be hearing more from him in the coming years.
When it comes to understanding the MENA region’s Seed stage venture capital and startup ecosystem, you’d be hard pressed to find someone with a wider breadth of experience than Hasan Haider. Formerly the Managing Partner of 500 Startups’ MENA Fund, Hasan and his partner Sharif Elbadawi launched Plus.VC in the fall of 2020 to continue the work they started at 500 Startups in 2017, backing the region and its diaspora’s most exciting Seed stage founders.
Like any good entrepreneur, Hasan’s foray into this world started with a pain point he experienced as a consumer. Namely, he couldn’t get access to the DVDs he wanted to watch in Bahrain. To solve this, he founded his first startup. As I heard the rest of his journey, I realized that this “see something, do something” attitude has really guided Hasan’s career all the way up until the founding of Plus.VC. He identified the missing components in his own experience as founder, which led him to set up Bahrain’s first angel investing network. That exposed him to the region’s funding gap for Seed stage startups, which propelled him to 500 Startups. While there, he was involved in nearly ¼ of the regions’ Seed deals, a track record that sets Plus.VC up nicely to invest “early and often in the non-obvious emerging market entrepreneurs, taking an early leadership role with founders to set them up for success.”
Read on to learn more about why Hasan’s so fired up about the region’s potential, what it’s like raising for a VC fund in MENA, what Hasan looks for in a founder, and so much more.
I had the great fortune of touring Egypt’s startup ecosystem with Germine Bouchnack, an Associate at Middle East Venture Partners (MEVP) and their Egypt Operations Manager. Talk about a rising star! Germine’s journey into entrepreneurship started during university and has traversed such notable local, regional and global institutions as Hult Prize, the Commercial International Bank (CIB), and Flat6Labs, before joining MEVP at the end of 2020. I’d suggest you follow her closely, because in a few years, this will be just one of the early articles or interviews profiling her work. I’m confident that her passion for entrepreneurship and venture capital, combined with her desire to make an impact at both a grassroots and national level will continue to lead her career into new and exciting places.
Algeria and its potential has fascinated me for a while. It’s a huge country, with the largest population in the Maghreb (many of whom happen to speak at least two languages), a widespread diaspora, and an enormous youth bubble. The country seems ripe for disruptive startups, and yet, it’s lagged behind its neighbors in developing a startup ecosystem. The powerful central government has historically revolved around traditional industries, namely exporting petroleum. The country’s insular nature also makes it a bit harder to find “on-the-ground” information about entrepreneurship in Algeria, so I was really lucky to connect with Aouf Abdellah, the Algerian founder of GO Platform.
Abdellah is part of a growing movement of Algerians turning to entrepreneurship as the government loosens regulations and the economy looks beyond oil. Not only is he extremely optimistic about his country’s future and the economic opportunities therein, but he’s dedicated his career and startup to ensuring that Algerians across the country benefit from those opportunities. GO Platform’s mission is to provide young people with the opportunities and mindset to realize their dreams.
Like most of the countries covered by this blog, Palestine has both its own set of unique obstacles to overcome and strengths to build on when it comes to entrepreneurship. Few are better equipped to present those challenges and opportunities, as well as the current efforts to address them than Ambar.
Through her work launching and operating Ibtikar, Palestine’s only active venture capital fund, Ambar has made great strides in advancing the Palestinian startup ecosystem at home, and its image abroad. Despite the serendipitous path that led her to Palestine, which started in Mexico and has passed through (among other places) Arizona, Jordan, and Capitol Hill, there’s no doubt of her current and future dedication to finding and supporting great Palestinian founders.
Read on to learn about Ibtikar’s founding, portfolio and future, understand the Palestinian startup ecosystem, and follow Ambar’s personal journey to becoming one of its most important players.
As many of my readers may know, Salam is the Arabic word for peace. Salam Al-Nukta, the Damascene Cofounder and CEO of ChangeMakers Syria, highlighted this point right at the beginning of our discussion. In preparing this post, I found a John F. Kennedy quote about peace that I felt poignantly described the journey that Salam had shared with me: “Peace is a daily, weekly, monthly process, gradually changing opinions, slowly eroding old barriers, quietly building new structures.”
Adnen, known as Nino to his friends, graduated from Tunis Business School in the years following the Arab Spring’s most successful revolution and has worked at the forefront of the small mediterranean country’s social innovation sector since. In between founding two startups and furthering his studies in the U.S., Nino co founded El Space with his friends, Tunisia’s premier social innovation hub. Over the past five years, El Space has grown to occupy two physical locations, as well as the metaphorical heart of a growing community of Tunisian entrepreneurs using business to create positive change in their country.
How does a Belgian-Italian who grew up in Brussels, attended high school in Argentina, and studied public policy in Paris end up, working on entrepreneurship in the Middle East and North Africa? Francesca Bombassei’s path to her current role as Seedstars’ Regional Manager has followed the twists and turns of what I found to be some of her defining character traits - curiosity, a knack for getting things done, and a willingness to live outside her comfort zone.
There are some people you talk with that have such palpable energy and passion for a subject that, by the end of the conversation, you yourself are a total convert to their cause. Doing all the interviews virtually makes it all the more impressive that I could feel Anas’ excitement for his work with refugee founders, and his love for the Middle East, practically from his first word through our Zoom call. Read on for my full interview with him!
Patricia Letayf is a self-described realist. Despite growing up in New England, her personal ties to the Arab world, like her professional experience there, run deep. She readily admits that the region’s political problems will likely stick around well past her grandchildren’s generation. Rather than dissuading her from working in the Middle East though, this challenge fuels her desire to generate economic opportunities there. Read on for our full discussion!