All economic activities are enterprise based and these are like any living body in need of renewal and maintenance, in other words, they go through a lifecycle like anybody else. This begins, to carry on the same analogy, with birth. According to the Cambridge Dictionary it means a small business that has just been started. Wikipedia elaborating little more to define a startup company (startup or start-up) as being an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service. A startup is usually a company such as a small business, a partnership or an organization designed to rapidly develop a scalable business model. Are we witnessing a Start-ups revolution in the MENA region? The answer would depend on the location of where the birth occurs.
In the MENA generally, there is a relatively good understanding of the vital importance of the Start-up as it were business of encouraging its eclosion and nurture. The reality of the terrain though does make some difference between those with the required cash and those have-nots. Stability and domestic market buoyancy do weight in and most times take over the relevance of the cash requirement.
The Middle East’s start-up scene – explained in five charts: an interesting article written John McKenna, Formative Content published on May 17, 2017 by the World Economic Forum on the situation of the Start-ups in the MENA as illustrated by colourful charts would be advisable to ponder on. The author concludes his essay with a laconic Middle Eastern cities have a long way to go before they can compete with leading global start-up hubs.
Meantime, the local press mainly online also looking at the matter whether it be the long awaited respective governments’ programme of diversification of the economies leitmotivs or the new thriving dynamism is giving positive results especially now there is almost no hope as far as the petro economies of the GCC, etc. of going back to the $100 barrel heydays.
Here are the most illustrative areas of predilections in which the young start-ups dive in first and these are not surprisingly the Phones, Apps & learning tools: Here are the best tech launches of 2017 as per AMEinfo. It notably stating that today the world is dominated by technology thoroughly looked at it, brand by brand and arrived at the conclusion that better be with it than without it.
Apart from the obvious hardware, start-ups are also interested by all matters software such as data handling, open and / or shared data from all types of organisations, government, public and private sector alike. AMEinfo again shines with a beautifully tailored article on this subject. It is about Data will add AED10 billion to Dubai economy: Arabnet Digital Summit.