The CTO Show with Mehmet - MEA Tech & Startup Digest: Apr 7, 2024

Author

Mehmet Gonullu
April 07, 2024

Welcome to the 61st edition of " The CTO Show's MEA Tech & Startup Digest" Weekly Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1754 subscribers across LinkedIn and Beehiiv. Your presence, whether as a first-timer or a loyal follower, is the heartbeat of this platform dedicated to unfolding narratives in tech, startups, and entrepreneurship.

 What is inside?

-      Weekly Startup Insights From Middle East, Türkiye & Africa

-      Global Tech Industry and Startup Trends & News This Week

-      Episodes Recap

 Let's not wait any longer and dive into this week's rich insights

 

This Week’s Exclusive Sponsor:

 SLINGSHOT 2024, Asia’s premier global startup competition, is inviting you to showcase your solution in one of the following domains:

  • Consumer Media, Goods and Services

  • Environment, Energy and Green Technologies

  • Health and Biomedical

  • Manufacturing, Trade and Connectivity

  • Transformative Digital Technologies 

 🏆Prizes*: 

  • A pool of grant prizes worth over S$1.2 million

  • A sponsored trip to Singapore to participate in the Physical Immersion program

  • Eligibility for the EntrePass work visa for foreign entrepreneurs in Singapore

  • Network and collaborate with industry leaders and experts at Singapore Week of Innovation and Technology (SWITCH)

 *T&Cs apply.

 

 🌍 Regional Investment Highlights & Startup Insights:

 1.       Saudi Startups Lead the Way: The MENA region saw a remarkable increase in startup funding, with Saudi startups at the forefront, thanks to the LEAP24 event. A total of $254 million was raised in March, pushing Q1 figures to $429 million, with a keen focus on SaaS, fintech, and e-commerce sectors. Read More

2.     Mubashir's Milestone in Oman: The digital out-of-home advertising pioneer, Mubashir, secured an essential investment from ITHCA Group, aiming for regional expansion with its cutting-edge ad solutions. Read More

3.     BURN Manufacturing's Clean Mission: Kenya's BURN raised over $12 million to distribute eco-friendly cookstoves across Africa, a move set to benefit 1.5 million people and significantly cut carbon emissions. Read More

4.     Daleel's Financial Marketplace: Bahrain's Daleel received backing from Hambro Perks Spring Studios for its expansion in Saudi Arabia and the UAE, enhancing its financial product comparison platform. Read More

5.     Zynga's Record Acquisition: The acquisition of Turkish mobile game developer Peak by Zynga for $1.8 billion marks a monumental achievement for Turkey's startup scene, introducing the country's first unicorn. Read More

6.     Baobab's Strategic Acquisitions: Reflecting its commitment to African startups, The Baobab Network acquired South Africa's Reflector Marketing, aligning with its mission to bolster startup success with in-house marketing and branding services. Read More

7.     Ikas's E-commerce Leap: Turkish e-commerce platform Ikas clinched $20 million in Series A funding, setting sights on European expansion and sector leadership by 2030. Read More

8.     DogGO's Crowdfunding Success: Aiming to become the pet world's "Super App," Turkey's DogGO is embarking on its second crowdfunding round, following a successful first round in 2022. Read More

 🔍 Actionable Insights From Mehmet

  • The importance of more Startup shows is paramount as The LEAP24 event appears to have been a major catalyst for investment in Saudi startups.

  • There is a growing trend of cross-regional expansion among startups, with companies from Oman and Bahrain looking to expand into Saudi Arabia and the UAE.

  • The most common sectors receiving funding are SaaS, Fintech, and E-commerce, followed by Digital out-of-home advertising and Clean cooking solutions. This suggests that investors are interested in startups that are addressing challenges in traditional industries and those that are capitalizing on the growing e-commerce market. We need to wait yet to see the commonalities in B2B space.

 Global Tech Industry and Startup Trends & News This Week 

  • SiMa.ai raises $70 million to develop their next-generation AI platform for edge computing [Tech Funding News].

  • New Tech: OpenAI's speech cloning tech raises questions about synthetic voice applications [Tech Funding News].

  • New Feature: Messaging platform X rolls out their Grok chatbot to premium users [TechCrunch].

Episodes Recap:

 Unlock the secrets to elevating your startup's narrative with the help of marketing maven Danielle R. Harris , who stopped by to share her sage advice on authentic storytelling. Transform your marketing approach as we discuss the undeniable impact a powerful story can have on captivating investors and enchanting customers. 

 

 Join us as Christian Hammer , the innovative mind behind Vala-AI, peels back the layers of technical debt and exposes the transformative role AI plays in reshaping software management. Christian's journey from childhood programmer to tech CEO is not just inspiring—it's a roadmap for how we handle the increasingly complex digital landscape. Our discussion ranges from the untangling of legacy systems that anchor major sectors like banking to the ways AI can streamline and simplify the often convoluted tasks facing today's professionals.

 

 Unlock the secrets to business transformation as ★ Geert van Vlijmen AKA G, a trained legal eagle turned entrepreneurial guru, joins me, Mehmet, for a candid conversation on the daring shift from legal to the boardroom. Together, we dissect the essence of business success and the metamorphosis required in leadership roles for those who dare to venture into the world of innovation and risk. G’s narrative is a treasure trove of insights, highlighting the need for self-awareness, the strategic advantage of pacing oneself, and the pivotal role emotional intelligence plays in steering decisions.

 

Connect & Grow with Us

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  • Book Mentorship 🔍: Elevate your venture with personalized guidance. Book a mentorship session with me, Mehmet, and let's unlock your full potential.

  • Spread the Word 🌟: Know a tech & startup enthusiast? Invite them to our community for weekly doses of innovation and insight.

 

Thank You 🙏: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!

 

Best, Mehmet