Dubai, United Arab Emirates - January 10, 2017.  HE Essa Kazim ( Governor, Dubai International Financial Centre ) launches Fin Tech Hive at the Dubai International Financial Centre.  ( Jeffrey E Biteng / The National )  Editor's Note;  ID 63855 *** Local Caption ***  JB100117-FinTech09.jpg
The DIFC's FinTech Hive broadens accelerator program to include insurance, Islamic finance and regtech. Jeffrey Biteng / The National

UAE's commitment to start-ups pays dividends



The UAE’s start-up ecosystem is in a very healthy place, something highlighted by the latest data from the startup community platform Magnitt.

In the three months to the end of September, 62 new deals and over US$76 million of investment in Mena startups was recorded. This takes the total deal tally for the year's first nine months to 169 – a higher figure than the164 recorded last year.

It is yet another positive sign of the growing interest in regional startups, with two significant funding announcements in the last week alone.

First came $5m for the Dubai-based peer-to-peer lending platform Beehive following closely by a $10m injection into Souqalmal.com.

While Saudi-based Riyad Taqnia Fund led the Beehive deal, it was also involved in the Souqalmal.com funding round. But there was another piece of interesting news tied to the comparison site’s Series B announcement - its investors also included UK financial comparison site GoCompare.

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This made Souqalmal.com the third company in the region – after Souq and Careem -  to bring in a strategic international player, something its founder Ambareen Musa felt illustrated two very important shifts for the region:  firstly, that UAE startups are now attracting international players to start operations here, and secondly, that these players are choosing investment acquisition to get into the market.

Another related trend of interest is the heavy focus on the fintech sector. According to Magnitt’s study, fintech remains the hottest industry for the region for venture capital activity, with the sector making up three of the five largest investments in the third quarter of this year.

The sector has certainly been a priority in the region of late with a number of initiatives, particularly in the UAE to develop fintech ecosystems as a means of attracting start-ups.

In August the Dubai International Financial Centre started its inaugural accelerator programme with 11 fintech start-ups from around the world, including two from the UAE.

And Abu Dhabi Global Market set up its RegLab programme late last year. It offers fintech startups a “sandbox” environment giving them the space to develop business ideas under a light regulatory touch.

This UAE commitment to fintech is certainly paying off if the recent regional and international interest in startups based in the Emirates is anything to go by.

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5

Mission: Impossible - Dead Reckoning Part One

Director: Christopher McQuarrie
Stars: Tom Cruise, Hayley Atwell, Pom Klementieff, Simon Pegg
Rating: 4/5

SPEC SHEET: APPLE IPHONE 15 PRO MAX

Display: 6.7" Super Retina XDR OLED, 2796 x 1290, 460ppi, 120Hz, 2000 nits max, HDR, True Tone, P3, always-on

Processor: A17 Pro, 6-core CPU, 6-core GPU, 16-core Neural Engine

Memory: 8GB

Capacity: 256/512GB / 1TB

Platform: iOS 17

Main camera: Triple: 48MP main (f/1.78) + 12MP ultra-wide (f/2.2) + 12MP 5x telephoto (f/2.8); 5x optical zoom in, 2x optical zoom out; 10x optical zoom range, digital zoom up to 25x; Photonic Engine, Deep Fusion, Smart HDR 4, Portrait Lighting

Main camera video: 4K @ 24/25/30/60fps, full-HD @ 25/30/60fps, HD @ 30fps, slo-mo @ 120/240fps, ProRes (4K) @ 60fps; night, time lapse, cinematic, action modes; Dolby Vision, 4K HDR

Front camera: 12MP TrueDepth (f/1.9), Photonic Engine, Deep Fusion, Smart HDR 4, Portrait Lighting; Animoji, Memoji

Front camera video: 4K @ 24/25/30/60fps, full-HD @ 25/30/60fps, slo-mo @ 120/240fps, ProRes (4K) @ 30fps; night, time lapse, cinematic, action modes; Dolby Vision, 4K HDR

Battery: 4441mAh, up to 29h video, 25h streaming video, 95h audio; fast charge to 50% in 30min (with at least 20W adaptor); MagSafe, Qi wireless charging

Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Apple Pay), second-generation Ultra Wideband chip

Biometrics: Face ID

I/O: USB-C

Durability: IP68, water-resistant up to 6m up to 30min; dust/splash-resistant

Cards: Dual eSIM / eSIM + eSIM (US models use eSIMs only)

Colours: Black titanium, blue titanium, natural titanium, white titanium

In the box: iPhone 15 Pro Max, USB-C-to-USB-C woven cable, one Apple sticker

Price: Dh5,099 / Dh5,949 / Dh6,799

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

The specs

Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.5L/100km
On sale: Now
Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)

Company profile

Date started: January 2022
Founders: Omar Abu Innab, Silvia Eldawi, Walid Shihabi
Based: Dubai
Sector: PropTech / investment
Employees: 40
Stage: Seed
Investors: Multiple

Traces of Enayat

Author: Iman Mersal
Publisher: And Other Stories
Pages: 240

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

Race card

6pm: Al Maktoum Challenge Round 1 – Group 1 (PA) $50,000 (Dirt) 1,600m
6.35pm: Dubai Racing Club Classic – Handicap (TB) $100,000 (D) 2,410m
7.10pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
7.45pm: Jumeirah Classic Trial – Conditions (TB) $150,000 (Turf) 1,400m
8.20pm: Al Maktoum Challenge Round 1 – Group 2 (TB) $250,000 (D) 1,600m
8.55pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
9.30pm: Ertijaal Dubai Dash – Listed (TB) $100,000 (T) 1,000m

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Points classification after Stage 4

1. Arnaud Demare (France / FDJ) 124

2. Marcel Kittel (Germany / Quick-Step) 81

3. Michael Matthews (Australia / Sunweb) 66

4. Andre Greipel (Germany / Lotto) 63

5. Alexander Kristoff (Norway / Katusha) 43

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
The specs

Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

SQUADS

India
Virat Kohli (captain), Rohit Sharma (vice-captain), Shikhar Dhawan, Ajinkya Rahane, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni (wicketkeeper), Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Shardul Thakur

New Zealand
Kane Williamson (captain), Martin Guptill, Colin Munro, Ross Taylor, Tom Latham (wicketkeeper), Henry Nicholls, Ish Sodhi, George Worker, Glenn Phillips, Matt Henry, Colin de Grandhomme, Mitchell Santner, Tim Southee, Adam Milne, Trent Boult


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