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The spotlight of the month is on Saudi Arabia.
The Kingdom is laying the groundwork for becoming a remarkable entrepreneurship hub. During our latest Mix N' Mentor in Riyadh, a determined crowd of young entrepreneurs agreed on three main challenges faced by startups: regulations, infrastructure and funding.

Entrepreneurs have started addressing these challenges (read this), as well as others faced by the wider Saudi population. This startup, for example, wants to digitize governmental entities, while these delivery startups could help you circumvent traffic. More funding is also on the way, with STC recently announcing the establishment of its $500M VC fund, STV.

Additionally, most of the support programs targeted at entrepreneurs are run through established corporations, or the government itself, in all four ecosystems that make up the Saudi startup sphere.

This is the region's biggest market - read up on it in our latest WRL report, "The Kingdom of Saudi Arabia: Status of the entrepreneurship ecosystem", launched during the Majlis Al Riyada Suhoor in Riyadh earlier this month.

You need to know this

Will automation make us all unemployed? The future of MENA's jobs in light of the fourth industrial revolution [Report]

Egyptian fintech startup digitizes the Gameya, bringing more Egyptians into the digital economy.

The IFC wants to be part of the solution for MENA scaleups: "There is good news from the MENA region in terms of creativity and bright minds making a difference."

Wamda Capital

Exponential growth wasn't built in a day
During Wamda Capital's annual LP meeting earlier this year, we hosted a panel to discuss what it takes to build the region's largest tech companies, with Souq.com's Ronaldo Mouchawar, Namshi's Faraz Khalid and Careem's Mudassir Sheikha - listen to the podcast for insights on markets, money and more.

Fintech is hot globally...
... and things are getting warmer in the Middle East. In the last 10 years, there's been $100 million raised for fintech startups, while the number of startups offering financial services has doubled in the last three years. The opportunity for fintech in the MENA is right now, and any later might be too late as international competitors set their sights on the region.

Making the rounds

compareit4me raises $3.5 million from existing investors

MENA's Mumzworld launches a KSA specific website, offering customers a new user interface, promotions and localized delivery.

Kharabeesh launches mobile app for users to make and share entertaining content.

littleBits just shipped their newest product – the littleBits Code Kit. If you have a kid, this product is for you (and them).

Lebanese automotive marketplace Seez received $1.8M in seed funding from B&Y, Phoenician Funds, and Wamda Capital.

Careem expands to Ramallah in hope to support the tech ecosystem in Palestine and alleviate transport issues. The startup has also received a cash injection as Saudi billionaire Prince Alwaleed Bin Talal has joined Daimler AG, DCM Ventures and others in a $500 million Series E fundraising in Careem.

What we're reading

Congratulations grads of 2017, you must be really excited to face the real world and finally start your career. Though, before you jump into joining a 'cool' startup, here are 6 things you should keep in mind.

Lebanon's women in tech are doing better than their counterparts in Silicon Valley, how so?

Sam Altman sits down with Reid Hoffman to talk about the key changes founders should think about as they transition from a startup to a scaleup.

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Coba Demo Akun Rekomendasi Kami, Untuk Menguji Keakuratan Analisanya. Ubahlah PELUANG menjadi UANG

This is the MENA region's biggest market [Report]

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Investasi Emas

Here are some of the top stories of the week on CXOToday you would not want to miss. read more..

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Indian Banks To Speed Up Digital Transformation

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Reliance Jio Preferred As Secondary SIM, Finds Survey

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CXOToday - The daily business technology digest

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TOP STORIES Weekly Rewind: Top 10 Stories On CXOToday (Jun 12-16) Here are some of the top stories of the week on CXOToday you would not wan...

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Investasi Emas

There's a tectonic shift taking place in the online fashion retail industry, and the trend is here to stay. read more..

New Entrants, Offline Cos Drive India's Wearable Market

Key new entrants like Fossil, Titan, etctera have entered the Indian wearable market primarily through retail stores, said IDC. read more..

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Intel India To Invest Rs 1100 Crore To Expand R&D

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IoT Spending To Hit USD 1.4 Tn By 2021: IDC

In 2017, it is expected to to grow 16.7% year over year, reaching just over $800 billion, said the research firm. read more..

PRESS RELEASES

Cloud Security Market To Reach USD 9 Bn By 2020: Gartner

ABB To Deliver Smart Technology To B'lore, Kochi Metro

VoLTE Users In India To Cross 370 Mn by 2022: Ericsson

CORNER OFFICE

CFOs Can Play An Apostle Role In The Digital Age

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