Innovation Destination: How the Middle East Became an Emerging Tech Hub
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Innovation Destination: How the Middle East Became an Emerging Tech Hub
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The Middle East is experiencing massive growth across the tech industry and startup ecosystem. Governments across the region have issued mandates to expand tech sectors and build local talent pools. And global tech leaders are taking notice. In 2017 Amazon purchased Souq.com, the Dubai-based e-commerce retailer, for $580 million. In 2019, Uber acquired ride-share app Careem for $3.1 billion. The tech sector and startup ecosystem are expanding in the Middle East, but challenges remain.
With us today to discuss how we got to this point and what opportunities lie ahead is Ramez el-Serafy, CEO of Flat6Labs. Ramez sat down with us to discuss how the Middle East emerged as a popular destination for startups and tech investment, the challenges that lie ahead, and how founders and investors can navigate this growing sector.