The UAE's AIM Startup, an initiative by the Ministry of Economy and part of the Annual Investment Meeting (AIM), has signed agreements with two Saudi Arabian institutions to help propel entrepreneurship in the region.
AIM Startup signed an agreement with Prince Mohammad bin Salman College of Business and Badir Programme for Technology Incubators as part of plans to grow the regional entrepreneurship community.
"Entrepreneurship is an important solution to the needs of the Arab youth and we have seen a major shift in government policies to empower the youth with the right tools so that they can become job creators, instead of becoming jobseekers," said Dawood Al Shezawi, the chief executive of AIM Startup.
"AIM Startup – with a theme of technology for sustainable development and inclusive growth – is going to become the epicentre of entrepreneurship and start-up movement in the Arab World."
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Read more:
First half of year start-up funding in Middle East surges
When it comes to crowdfunding women in the Middle East are ahead of men
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AIM Startup, which was launched in 2017 as an initiative of the Ministry of Economy to connect start-ups with investors and business partners from other parts of the world, will take place during the UAE's Annual Investment Meeting, from April 9 to 11, 2018, in Dubai.
AIM Startup will host the second edition of its annual Innovation Showcase and Pitch Competition at the April event.
The number of start-up funding deals in the UAE surged in the first half of the year, according to the start-up online community platform Magnitt, following Amazon's high-profile acquisition of local online retailer Souq.com, and a US$150 million investment by Saudi Arabia's Kingdom Holding and Germany's Daimler in the UAE ride-hailing service Careem.
The rise in the number of investments also comes amid intensifying efforts by governments in the region to help small businesses get off the ground as they seek to diversify economies away from oil revenues, cultivate talent and promote entrepreneurship.
Around $140m was invested in 87 transactions, excluding money invested in Souq and Careem, during the first half of the year compared to 75 deals valued at $193m in the first half of 2016, according to Magnitt.
The flourishing of start-ups in the UAE comes amid intensifying efforts by governments to boost small and medium-sized industries through mentorship initiatives such as the one undertaken by the Abu Dhabi Global Market, the Emirate's nascent financial hub.
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari
Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
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Company%20Profile
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Confirmed%20bouts%20(more%20to%20be%20added)
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'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
HUNGARIAN GRAND PRIX RESULT
1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India 1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
Tiger%20Stripes%20
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COMPANY%20PROFILE
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
2289 - Dh10
2252 - Dh50
6025 - Dh20
6027 - Dh100
6026 - Dh200
Company%20Profile
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