GOOD THINGS COME IN THREES - TIER-LESS (AND TIRELESS) CO-FOUNDER ATHBI AL-ENEZI CEO MOHAMMAD JAFFAR CO-FOUNDER NOURI AL-ENEZI - Entrepreneur
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MAKE CULTURE A PRIORITY FIVE STEPS TO CREATE A HAPPY AND SUCCESSFUL STARTUP FROM THE OUTSET
GOOD THINGS
COME IN THREES
JUSTCLEAN’S MANAGEMENT
TALK RUNNING A SCALABLE BUSINESS
TIER-LESS
(AND TIRELESS)
CO-FOUNDER ATHBI AL-ENEZI
CEO MOHAMMAD JAFFAR
CO-FOUNDER NOURI AL-ENEZI
9 77231 1 541 008 >
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APRIL 2019 CONTENTS
30
Areije Al Shakar at
the Unbound Bahrain
held at the Bahrain
National Theatre in
March
22 34 30 42
INNOVATOR: INNOVATOR: INNOVATOR CULTURE
GOOD THINGS COME COMPETITIVE ADVANTAGE A PROGRESSIVE TRAVEL
IN THREES Abdulwahed Juma, PERSPECTIVE Doubling down
JustClean co-founders Executive Vice President Areije Al Shakar of Bahrain Basel Talal, Radisson Hotel
Athbi Al-Enezi and of Brand and Corporate Development Bank -who is Group’s Regional Director
Nouri Al-Enezi, and CEO Communications, du, also the Fund Manager at for Saudi Arabia, Kuwait,
Mohammad Jaffar talk on how the telco is Al Waha Fund of Funds- on and the Levant, on the
about running a scalable differentiating itself as how her country’s initiatives hospitality company building
business. a brand in the UAE. are enabling not just its up its presence in the
own, but the region’s Kingdom.
entrepreneurial ecosystem.
46
80 Lucidya team 60 ‘TREPNOMICS
START IT UP PRO
ECOSYSTEM Value proposition
Redefining perceptions Massad Fares, Chairman of
Amal Dokhan, Director of Legacy Central, and Wael
Babson Global Center for El Zein, Chairman and
Entrepreneurial Leadership General Manager of Lucid
in King Abdullah University Invesetment Bank SAL,
of Science and Technology discuss how Legacy One,
in Saudi Arabia, on the Lebanon’s first real estate
Kingdom’s reception to (and investment vehicle, turned a
aptitude for) change. crisis into an opportunity.
April 2019 / E N T R E P R E N E U R . C O M / 3
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60 Amal Dokhan, Director of Babson Global Center for
Entrepreneurial Leadership in KSA, talks about the Kingdom’s
reception to (and aptitude for) change.
68 38
‘TREPONOMICS TECH
SKILLSET SHINY
Better together #TamTalksTech
The co-founders of Dubai- Gadgets and doodads that
based startup WakeCap you might’ve missed out on,
Hassan Albalawi and Ishita sourced by a tech aficionado.
Sood talk partnership pros. Yes, it’s okay to want them
all… and no, it’s not our
74 fault.
START IT UP
STARTUP FINANCE
We got funded!
The stories behind the
80 71 recent fundraising wins by
START IT UP ‘TREPENOMICS MENA startups Tarjama and
Q&A SKILLSET Jamalon.
Watch what they say Driven by values
KSA-based startup Blueground’s Amine 20
Lucidya wants to empower Housni shares five factors IN THE LOOP
businesses by providing needed to deliver a stand- Reinventing an industry
real-time analytics for their out, seamless, mobile-first Plug and Play debuts travel
social media platforms with experience that adheres to and hospitality accelerator Fitbit Versa
its AI-powered tools. your business’ values. program in Abu Dhabi. Lite Edition
22
JustClean CEO
Mohammad Jaffar
with co-founders
Athbi Al-Enezi and
Nouri Al-Enezi
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www.dtec.aeCONTENTS APRIL 2019
78 SHE CAN 2019, a conference dedicated to MENA women
entrepreneurs, hosted its third annual edition in Egypt.
55 54
‘TREPONOMICS ‘TREPONOMICS
SKILLSET SKILLSET
Sustaining success Make culture a priority
Dawn Metcalfe, founder Mike Cook, Chief
of PDSi, delves into how Marketing and
culture can help your Communications Officer
company get ahead. at Creative Zone, lists
the five steps to create
a happy and successful
58 40 82 startup from the outset.
CULTURE CULTURE CULTURE
LIFE TRAPPINGS LIFE 78
Riding the wave ‘Trep gear The five-year IN PICTURES
When it comes to being The executive selection for entrepreneurial itch Sky's the limit
an entrepreneur, it’s you the entrepreneur on your How do you keep going Egypt's SHE CAN 2019
who’s running the business, list that has everything. when the shine has worn focuses on failures
not the other way around, Okay, maybe for a little off, and your passion as stepping stones to
Osama Romoh writes. self-reward as well. becomes a pain point? success.
46
The launch event of
Legacy One, at the
Beirut International
Exhibition & Leisure
Center (BIEL)
14 / E N T R E P R E N E U R . C O M / April 2019MIDDLE EAST
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16 / E N T R E P R E N E U R . C O M / April 2019A collection of our finest hotels,
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M E M B E R S G E T T H E B E S T R AT E S
W H E N YO U B O O K D I R E C T
radissoncollection.comEDITOR’S NOTE
Is there a grownup in the room?
Someone has got to say something sooner or later
H
ow do you react to bad the unsavory personalities are
behavior from people the bosses, and therefore, nobody
around you? I person- dares to call them out for it. Or
ally prefer to stay away perhaps it’s because they are the
or simply ignore those top performers in the enterprise,
who choose to act in a and so their poor behaviors are
horrible manner, but given by a free pass by those above
then again, in my line of work, I them in the hierarchy. Others just
can’t seem to avoid seeing or hear- buy into the reality distortion field
ing about them on a day-to-day perpetrated by these individuals,
basis. As such, one of the things and thus are dismissive of anything wrong? How do you respond to
I’ve begun to notice about these that challenges that very specific criticism or complaints- do you
types of people is how they all notion. Regardless of the reason dismiss them blindly or do you
seem to have taken on an air of though, it seems pretty apparent at least give them a (real) listen?
arrogant smugness in the way they that the people who fail to act on When you feel like you’re on
conduct themselves. They look to curbing this kind of toxic behavior morally shaky ground, is there
be either blithely unaware (and/or) in those near them are essentially someone like an accountability
are completely callous about their enabling it as well. Doing this in buddy around you who can
own failings. It is both strange and the context of a startup results in provide you with perspective and
tragic that they don’t appear to be the creation of a rather unpleasant direction? Take the time to find
able to see past their own inflated work culture. And this, when out the answer to questions like
sense of self. I’m particularly per- allowed to fester, almost certainly these for yourself.
plexed by entrepreneurs who have leads to unfavorable outcomes for Being self-aware can only ever do
this kind of an attitude, as it runs the organization at large. you good.
contrary to pretty much all of the So, in the work environment,
principles that govern real suc- besides not condoning bad
cess stories in the business world. behavior in those around you, what
Simultanously, I can’t help but can you do to make sure you are
wonder how they get away with not behaving badly? I feel like this
acting like this- shouldn’t there be should start with a good honest
someone around them who should look at yourself, and critically
be keeping them in check? examining how people you interact
Well, there should be- but, as with on a regular basis respond to
far as I can tell, there rarely is your actions. Do you have someone Aby Sam Thomas
someone like that in the proximity in your team who feels confident Editor in Chief
of those who are behaving badly. and empowered enough to call @thisisaby
Maybe it’s because the ones with you out should you do something aby@bncpublishing.net
18 / E N T R E P R E N E U R . C O M / April 20194 COMPETITIONS
IN THE LOOP
"THE UAE HAS COME OF AGE IN TERMS
OF TECH PROWESS"
Muna Al Gurg, the only Emirati investor in
Careem, on the company's acquisition by Uber
“IT’S A BIG WAKE-UP CALL.” business? “There are many rea-
That’s how Muna Al Gurg char- sons, but to narrow it down, it
acterizes the impact the US$3.1 was a mixture of a large market
billion acquisition of Careem by size, and a proven tendency for
Uber will have on the mindsets repeated use by customers,”
of investors in the UAE and she replies. “Careem had al-
the wider MENA region. As ready proven its ability to scale,
Careem co-founders Magnus Olsson, Mudassir Sheikha and Abdulla Elyas
the only Emirati shareholder and they had the right team in
in Careem, Al Gurg, who’s the place to further grow. A lot of
A MILESTONE FOR THE MENA Director of Retail at Easa Al
Gurg Group, has been hailed for
hesitancy was, and continues
to be, around profitability, and
STARTUP ECOSYSTEM her role in enabling the creation what kind of margins such
of the Middle East’s biggest a business can make as it
Uber acquires Careem for US$3.1 billion ever tech success story, which matures.”
is expected to inspire others in Al Gurg adds that she was
I
t’s official: Uber is with Careem’s founders, I’m the UAE to follow her lead in hopeful for an acquisition
buying Careem for confident we will deliver the future. when it came to the long-term
US$3.1 billion. The exceptional outcomes for prospects of Careem. “An exit
acquisition of the riders, drivers, and cities, in Muna Al Gurg via an acquisition was always
Dubai-born Careem this fast-moving part of the my base case,” she says. “Obvi-
by the San Francisco- world.” ously, this was always going to
headquartered Uber is Commenting on the acqui- be dependent on the health of
expected to close in the first sition, Sheikha said, “Joining the other ride-hailing startups.
quarter of 2020, with the forces with Uber will help us During Uber’s leadership transi-
transaction consisting of $1.7 accelerate Careem’s purpose tion, I did have some concerns
billion in convertible notes, of simplifying and improving about its future trajectory,
and $1.4 billion in cash. the lives of people, and build- and whether it would be a
The deal will see Careem ing an awesome organization possible acquirer. When Dara
becoming a wholly owned that inspires.” [Khosrowshahi, CEO, Uber] took
subsidiary of Uber, though “The mobility and broader over, his background suggested
Careem will continue to internet opportunity in the M&A was something he was
operate independently under region is massive and un- Al Gurg, who’s known for comfortable with.”
the leadership of the com- tapped, and has the potential being an active proponent of As for what Careem’s exit
pany's current CEO and co- to leapfrog our region into the MENA startup ecosystem means for the MENA startup
founder, Mudassir Sheikha. the digital future,” he added. through her roles as Board ecosystem, Al Gurg points
“This is an important “We could not have found Member at Endeavor UAE and toward the benefits it will have
moment for Uber, as we a better partner than Uber Chairwoman of Young Arab for the region as a whole. “The
continue to expand the under Dara’s leadership to Leaders (among others), claims impact is obvious," she says.
strength of our platform realize this opportunity.” to have been impressed with "It's proof that large businesses
around the world,” said Dara Uber’s buy-out of Careem is the way Careem was structured can be built locally. Proof that
Khosrowshahi, CEO, Uber, in now the largest acquisition of as a business from its very foreign companies will invest in
a statement. a startup seen in the Middle beginnings. “I’ve always been a the region, given the right op-
“With a proven ability to East so far, with the deal massive supporter of Careem’s portunity. With Souq and now
develop innovative local so- amount surpassing Amazon’s service,” she says. “Whenever I Careem both being acquired,
lutions, Careem has played a reported $580 million pur- heard someone say, ‘Let’s call the UAE has come of age in
IMAGES COURTESY CAREEM | MUNA AL GURG
key role in shaping the future chase of Souq in 2017. an Uber,’ I’d quickly chime in terms of tech prowess. Going
of urban mobility across the Careem, which was with a suggestion to 'go local forward, we hope that the
Middle East, becoming one of launched in Dubai in 2012, and use Careem instead.’” trickle-down and ripple effects
the most successful startups today operates in 120 cities But what about Careem made from the acquisition facilitate
in the region,” Khosrowshahi across 15 countries. Al Gurg want to invest in the more innovation.”
noted. “Working closely careem.com
20 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
GOOD THINGS
COME IN THREES
JUSTCLEAN’S MANAGEMENT
TALK RUNNING A SCALABLE BUSINESS
TIER-LESS (AND TIRELESS)
CO-FOUNDER ATHBI AL-ENEZI | CO-FOUNDER NOURI AL-ENEZI | CEO MOHAMMAD JAFFAR
by ABY SAM THOMAS
H
ere’s something I’ve come to realize in my JustClean: in the discussion of how we’d position
time working at Entrepreneur Middle East: co-founders (and brothers) Athbi and Nouri Al-Enezi
you can tell a lot about entrepreneurs by and CEO Mohammed Jaffar for a photograph that’d
the way they behave in a photoshoot. For feature all three of them, they made it clear that they
instance, the ones who make an awful didn’t want a picture that showed any of them stand-
hassle about how they are snapped are ing ahead of the others. The reasoning was simple: by
often those who have let success go to having themselves showcased in line with each other,
their heads- they turn what should have been a rather the three entrepreneurs wanted to show that they are
simplistic process into a painful parade of their egotistic all equal when it comes to their work at JustClean, and
attitudes and whims. In stark contrast are the humbler that it is their united front that makes them so impact-
entrepreneurs, who are always a lot more pleasurable ful. In this startup, no one is more important than the
to work with. It’s endearing to see them get embar- other, but it’s their united front that distinguishes this
rassed when the spotlight is on them (both literally and ambitious enterprise keen on making a dent in the busi-
figuratively), and they are very adamant about sharing ness realm. Now, given that we work in a region where
time in the limelight with partners or teams. It’s simple numbers (arguably) matter more than words, know
why: they want the focus to be on the business they that these Kuwaiti innovators are aiming to solve what
IMAGES COURTESY JUSTCLEAN
run, and not on them per se. they claim to be over a US$2 billion dollar problem in
It is in this latter category that I put the entrepre- the GCC- and they are setting themselves up to be the
neurial trio leading the Kuwait-headquartered startup, trendsetters in this arena. >>>
22 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
"WE EACH HAVE OUR OWN ROLE THAT
COMPLETES THE OTHERS,
AND WE ARE ALL INTEGRAL COMPONENTS IN
THE DECISION-MAKING PROCESS.”
April 2019 / E N T R E P R E N E U R . C O M / 23INNOVATOR
JustClean CEO Mohammad Jaffar with co-founders Athbi Al-Enezi and Nouri Al-Enezi
"TODAY, WE ARE A MARKETPLACE remember looking over at
my brother, and saying ‘Quit
to help your community
than solve an inconvenience
APPLICATION PLUS WE’RE A LOGISTICS your job. We are starting our people may and may not be
BUSINESS AS WELL AS A SAAS (SOFTWARE own app.’” Nouri’s response?
“I remember staring Athbi
aware of. My brother and I
knew we wanted to follow
AS A SERVICE) BUSINESS. WE’RE dead in the eye, and saying, the innovators in the market,
‘We are about to start the and lead in their steps. We
CURRENTLY THREE BUSINESSES IN ONE.” journey of our life.’” knew we were the youth of
And that was it- the tomorrow that could take
JustClean started out with thought), I was in a state of Al-Enezi brothers’ a risk, drop the secure 9-5,
a different name- the Al- panic because my work suits entrepreneurial careers and jump into the dynamic
Enezi brothers launched were all at the cleaners, and began at that moment in the startup life.” And to their
the company as Masbagti the cleaners had decided to car. Once Masbagti came credit, the Al-Enezi brothers
(meaning “my laundry” in close on the day that I was into being in April 2016, it moved Masbagti quite
Arabic) in 2016, billing it as promised their return. So, quickly found favor with quickly along its business
Kuwait’s first on-demand at 10 pm, with no suit to consumers, who were only trajectory- besides working
laundry service marketplace wear to work the next day, too glad to find a faster on rapidly increasing the
app. “Our journey started I did as any rational person and more convenient way number of customers as well
with a common pain, would do: I took the day off. to get their clothes picked as the number of laundries
relatable to many- the The subject of my leave was up, cleaned, and delivered that were on their platform,
indefinite woes of doing titled ‘personal reasons.’ back to them. Laundry they also managed to get
laundry,” Athbi remembers. The next day, I drove to the service providers also came the startup noticed in the
“When I returned to Kuwait cleaners with my brother on board the platform to entrepreneurial ecosystem.
after being in the UK for in the passenger seat of my gain access to a potentially For instance, in October
several years, I secured a car, and we couldn’t help larger customer base for 2016, the company was
9-5 job where wearing a but notice the amount of themselves. “Wherever there declared the winner in
suit to work every day was laundries that surrounded is a pain, there should be the Startup Battle contest
part of the description. One us. Our entrepreneurial a solution to fix it,” Nouri at ArabNet’s inaugural
unfortunate day (or so I eye kicked in, and I vividly notes. “And what better way conference in Kuwait.
24 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
Masbagti continued to
grow- in just a year’s time
the platform had enough
laundry partners on it to
cover the whole of Kuwait.
The co-founders were
validating their enterprise’s
business potential with, as
Athbi put it, “every closed
sale, every order that came
in, and, most importantly,
every frustrating no that
turned into a yes. We tested
our assumptions of the
market through our personal
network. We didn’t approach
any consulting companies
or conduct any formal tests;
our single validation was A JustClean team meeting
the belief that success came
from the Almighty, and if we
worked hard enough, with Jaffar. Perhaps best known in Jaffar says. “I liked their was this: Faith Capital would
His blessings, we would the MENA startup ecosystem honesty, I liked their acquire Masbagti, and for
succeed.” It was this style for being the CEO of the transparency, and I liked the first few years of the
of thinking by the Al-Enezi Kuwait-born food delivery the trust that they gave business, Jaffar would lead
brothers, along with the app Talabat.com (which he me. I liked the challenge as the enterprise, and in the
staggering growth they had led to its acquisition by the well- I liked the problem process, groom the Al-Enezi
managed to achieve for their Berlin-headquartered Rocket they were trying to solve brothers so that they could
enterprise, of course, that Internet for $170 million in with Masbagti.” As a take lead of it later in the
managed to garner the at- 2015), Jaffar had moved on potential investor, in order future. Of course, Jaffar’s
tention of a fellow Kuwaiti from that role to become the to understand the potential track record with Talabat
entrepreneur: Mohammed Deputy Chairman and CEO of the business, Jaffar made him a great candidate
of the Kuwait-based venture engaged one of the Big Four to take on the mantle of
capital fund, Faith Capital. companies to conduct a CEO at Masbagti- but were
"WE KNEW WE He had been keeping an eye feasibility study for the Athbi and Nouri willing
WERE THE YOUTH OF on the Al-Enezi brothers and enterprise, and to better to let someone else other
TOMORROW THAT their enterprise- and he had understand the size of the than themselves to take the
an inkling that the business problem Masbagti was lead of the startup they had
COULD TAKE A RISK, was going to go places. aiming to solve. As it turned founded in the first place?
DROP THE SECURE 9-5, “When I met Athbi and out, the Al-Enezi brothers It is here that the brothers
AND JUMP INTO THE Nouri, I really liked them, had made inroads into what showed what I consider to
DYNAMIC STARTUP LIFE.” right from the first day,” was found to be over a $2 be some exceptional wisdom
billion market- and given and maturity for people
that the laundry service within the entrepreneurial
sector was almost completely realm- Athbi and Nouri
offline, Masbagti had the decided that they (and Mas-
unique opportunity to bring bagti) would be better off in
an entire industry online. the long run with Jaffar as a
“I shared that information guide along the way. The Al-
with both the founders, and I Enezi brothers believed that
said, ‘You know, guys, there’s they would be getting a lot
a very big problem to solve more than just investment if
here,’” Jaffar recalls. “And I Jaffar and Faith Capital took
would love to do it with you- over the enterprise they had
to do it together with you founded- and so they de-
guys.” The proposition Jaffar cided to move ahead in that
JustClean gave to the Al-Enezi brothers particular direction. >>>
April 2019 / E N T R E P R E N E U R . C O M / 25INNOVATOR
Athbi Al-Enezi, Nouri Al-Enezi, same time, from my side, I’ve
co-founder, JustClean co-founder, JustClean given them their space. I am
always pushing them to take
on more responsibility, and
being entrepreneurs, they
are always hungry to take
on responsibility- and they
don’t shy away from it.”
Once Faith Capital acquired
Masbagti, and Jaffar came
on board the company as its
CEO, the startup started go-
ing through a lot of changes-
maybe the most pronounced
of which was its rebranding
as JustClean, which was a
strategic decision for the
enterprise that was getting
set to grow beyond its home
base in Kuwait. But that’s
"ATHBI AND I SAW A MENTOR IN MOHAMMED JAFFAR. just one aspect in which
WE HAD OBSERVED HIM, ALONGSIDE MANY PIONEERS IN the company transformed.
“Three years ago the com-
THE INDUSTRY, COMPLETELY REVOLUTIONIZE THE DYNAMIC pany had two founders only,
BETWEEN E-PLATFORMS AND CONSUMERS." and their office was their
car,” Jaffar explains. “Thanks
to God, today, we are made
“Every startup should focus We wanted to be one of those brought us together, not only up of 91 employees, and we
on choosing a partner, and entrepreneurs, who took as colleagues, but as broth- believe by the end of this
not money,” Nouri says. “It the risk of entrepreneurship ers as well. We each have year we will be having over
is crucial that entrepreneurs headstrong, while maintain- our own role that completes 110 employees at JustClean.
select a mentor, and not just ing a firm belief of our ethics the others, and we are all We are, at the moment, in
someone who will finance and morals.” integral components in the three markets -Kuwait, Bah-
them. This investor should “Like my brother said, decision-making process.” rain, and the UAE- and we
understand the business before anything, we chose From his perspective, Jaffar expect to be covering more
model, and assess specific a mentor, not just an in- points toward the trust the of the GCC by the end of this
gaps that may be lagging the vestor,” Athbi adds. “We three of them have in each year. God willing, we are
business, or pulling it down. wanted more than monetary other as the integral reason planning to enter other geo-
Athbi and I saw a mentor in assistance. We wanted for why they all came to- graphical areas in the MENA
Mohammed Jaffar. We had someone who carried the gether to work on Masbagti- region as well in 2020. So,
observed him, alongside beliefs that we carried, and it was a meeting of minds, the business has grown quite
many pioneers in the indus- would empower us not only so to speak, and as such, a lot in the last two years.
try, completely revolution- as entrepreneurs, but in there was an easy alignment It’s still small, but it’s grow-
ize the dynamic between our personal lives as well. of values between him and ing fast, month on month.
e-platforms and consumers. When you’re searching for the Al-Enezi brothers. “They When we as Faith Capital
Our society had shifted their an investor, pursue advi- know the difference between invested in the business
behavior from the offline sors who share your same right and wrong,” says in 2017, the business was
norm to online. What was vision. You want someone Jaffar. “They’re not money- a marketplace application.
once a unicorn thought of who is just as excited and driven… They’re very good Today, we are a marketplace
ordering anything online has dedicated to your product as listeners. You know, when application, plus we’re a lo-
become a tangible reality. you are. Find those advisors it comes to entrepreneurs, gistics business, as well as a
His belief in advancing our who bring value- a type of sometimes, they can become SaaS (software as a service)
society to a more modern value that is intangible and very stubborn and they don’t business. We’re currently
and capable one that has the not monetary. If they share listen or they think that they three businesses in one.”
ability to compete interna- the same value as you, the know it all. But the brothers JustClean’s accelerated
tionally on an e-level has money will follow. With trust me very much; they are growth got a further boost
inspired us as entrepreneurs. the Almighty’s plan, He very good listeners. At the in February this year when
26 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
Faith Capital announced the market, it is better to be "WE ARE, AT THE Mohammad Jaffar,
CEO, JustClean
it had closed a $8 million the leader than the follower, MOMENT, IN THREE
Series A round of financing i.e. the trendsetter. This MARKETS -KUWAIT,
in the startup. That round way, you control the tides
will enable the enterprise’s that everyone else rides on.”
BAHRAIN, AND
growth across the GCC Nouri adds, “At JustClean,
THE UAE- AND WE
region, while also expanding we listen to our partners EXPECT TO BE
the logistics and SaaS arms and clients and move faster COVERING MORE OF
of the business. While it may than the market. We are THE GCC BY THE END
have started out with a B2C always quicker to respond to OF THIS YEAR."
model, JustClean has since changes and faster at adapt-
decided to invest in its B2B ing to them. We recognize super challenging,
outreach as well, by rolling the value of our users and because the risk of
out a laundry management partners all the same. We are failure is immensely
solution, as well as logistical not afraid of competition; we high. And if you fail,
support for the vendors in embrace it.” people will forget
its marketplace. This is one Jaffar echoes the brothers’ that you did Tala-
of the ways in which Just- sentiment when I asked him bat! So, how do you
Clean plans to distinguish as to what drove him to take combat the fear of
itself from the competition on an entrepreneurial role failure? By praying
it may face in this sphere as again at JustClean, following to God, and working very, always wished well upon
it expands across the region. the success he had seen in very hard. God will give you him. And God blessed him.
“As JustClean, we welcome that space with Talabat not success if you do everything So, for me, I looked up to
healthy competition, as it too long ago. According to right.” that, and I said to myself,
benefits everyone in the him, if JustClean were able This statement by Jaffar is ‘I will apply myself in the
market,” Athbi says. “With to move the offline laundry a testament to the integral business world the same way
that being said, Sugar Ray service industry into the role his Muslim faith plays my grandfather did.’” That,
Robinson once said, ‘Rhythm online world that would be in his personal philosophy as according to Jaffar, is the
is everything in boxing. an achievement that would an entrepreneur. Throughout primary reason why he has
Every move you make starts almost certainly rival (if not the course of our conversa- been able to find success in
with your heart, and that’s in surpass as well) what he and tion, he kept referring to the the business world, and he
rhythm, or you’re in trouble.’ his team had accomplished Islamic principles that he is eager to have the rest of
When you are competing in in the food delivery space believes in, and how apply- the world around him realize
with Talabat. “My target now ing those in his day-to-day this as well, which is why
is to do something bigger life had helped him attain he continues to espouse the
than I did already,” he says. success in the entrepreneur- same values in his work at
“It’s just natural; it’s human ial realm. It’s a way of life JustClean as well.
progression. You know, you that he has learned from his “One of the things we did
do something, and the next own family- as an example, at Faith Capital is that we
time you want to do it more.” he pointed toward the reli- have taken out 10% of the
But Jaffar makes it clear that gious ideals espoused by his profit, and given that to the
this is not an exercise in self- late grandfather, Mubarak team,” Jaffar reveals. “So, if,
aggrandizement either. Al-Hassawi, a successful in the future, God willing,
“I truly believe that Talabat’s Kuwaiti businessman in his we end up achieving success,
success didn’t come because own right, whose biography 10% of that success will go
of me- it came because of refers to him as “a man to the team. At the same
God’s blessings,” he says. ahead of his time.” “When time, we give the chance to
“You just have to do things he passed away in 2005, he our team and colleagues: if
right, treat people well, and was worth over three or four they would like to invest in
work really well. You have to billion dollars, and he had us, be shareholders, they
leave the rest to the Creator. thousands of people work- are allowed to. It makes
I truly believe in all this, and ing for him,” Jaffar recalls them feel that this is their
that’s what gave me the con- about his grandfather. “But business as well; they’re
fidence to start something the reason why he became not just employees working
from scratch again. And, re- successful is because he was for a salary. We do all
ally, starting something from a very humble, religious, these initiatives to make
scratch is super difficult, kind person, and people people feel that this is not >>>
JustClean app
April 2019 / E N T R E P R E N E U R . C O M / 27INNOVATOR
Faith Capital office
are the kind of things that go
"WE WANTED TO BE ONE OF THOSE ENTREPRENEURS, WHO TOOK through my mind every day,
THE RISK OF ENTREPRENEURSHIP HEADSTRONG, WHILE MAINTAINING and kind of keep pushing me
A FIRM BELIEF OF OUR ETHICS AND MORALS.” forward and forward.” The
Al-Enezi brothers echo this
sentiment when I ask them
Mohammed’s company, or the trio work, as well as in promised employees the about what they hope the
the brothers’ company- it’s the policies they have put ability to break away from next few years will look like
everybody’s company. And in place at their enterprise. conventional chains, be cre- for JustClean. “There is no
again, this is part of our “Our overall vision at Just- ative, and challenge them- end to JustClean, and the
Islamic values. It’s not about Clean is to revolutionize the selves to think outside of potential that will arise from
belittling people, or putting laundry industry by creating the box. A place where, with it,” Athbi says. “We will,
ourselves up on a pedestal- products that help all stake- mistakes, comes progression, with the blessings of the Al-
it’s about making them feel holders in the process of gar- not judgment. By the grace of mighty, be the trendsetters.
that they’re also part of this ment care through solutions God, we are blessed to work We would like JustClean to
equation, and give them that address the needs and alongside JustClean champi- be live all around the GCC,
chances to benefit as well.” wants of the laundries, cus- ons today.” and the leader in the clean-
This focus on the tenets tomers, and market at large,” It should be rather evident ing sector for users and busi-
of Islam can be seen in the Athbi says. “In order for us by now that as ambitious ness owners.” Nouri feels
startup’s socially responsible to accomplish our goals, we and motivated the entre- the same way, adding, “With
initiatives as well- JustClean invest in our most important preneurs behind JustClean the growth of JustClean,
has a JustGood program that asset: manpower.” Nouri are, they are driven by some our plan to give back to our
is centered on making sure adds, “When we started our deeply personal values that communities will grow as
the company gives back to journey, we wanted to give is centered on a purpose to well. Our JustGood program
the community, be it through others the opportunity to do (and enable) good through will expand to sponsor more
its sponsorship of charity work in an environment that their business. “Success for charities, collaborate with
events, or collaborations was unbiased and humane. me is to be remembered,” more organizations, and di-
and collections to help the We wanted to create a Jaffar says. “How would you rectly help more people with
underprivileged on a regular culture where individuals be remembered when you donations. The more our or-
basis. The Al-Enezi brothers felt appreciated, and their are no longer here? I think ders increase, the more users
stand by Jaffar’s philosophy, absence would be recog- about that a lot. What legacy like you will be contributing
and this shows in the way nized. An organization that would I leave behind? These to a person in need.”
28 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
Amal Dokhan
Al Shakar claims that
"BAHRAIN HAS A STRONG
the Al Waha aims to ANGLE WHEN IT COMES TO
help startups overcome THE FINANCIAL SERVICES.
barriers to financing and IT’S A VERY COMPETITIVE
lack of business support AND CHALLENGING
and expertise
ENVIRONMENT BECAUSE
YOU ARE UP AGAINST
THE INCUMBENTS AND
THE BIGGER FINANCIAL
INSTITUTIONS, BUT THERE
ARE HUGE OPPORTUNITIES
IN THAT SECTOR.”
“One thing that we always
hear, and something that al-
ways comes up for startups, is
access to funding,” Al Shakar
tells me during our chat at
the Unbound Bahrain event at
Manama in March. “The fact
is that funding exists in the
region, but investors also need
to be encouraged to support
those opportunities. We come
from a region where the tradi-
A PROGRESSIVE
tional asset class is investing
into things that are real estate
-things that you can touch and
feel- but with venture capital-
ists, it’s all about trust and be-
PERSPECTIVE
AREIJE AL SHAKAR
lief, and that whole belief that
technology will revolutionize
whatever industry you are in-
vesting in. Venture capitalists
also need that support, they
need the ability to breathe.
And they need partners.”
The Senior Vice-President and Head of Development Services at In June 2018, BDB an-
Bahrain Development Bank -who is also the Fund Manager at nounced that the Al Waha
Al Waha Fund of Funds- on how her country’s initiatives are enabling Fund of Funds had success-
fully closed its US$100 million
not just its own but the region’s entrepreneurial ecosystem fundraising round, making
b y TA M A R A P U P I C it the first active venture
capital fund of funds in the
region. The fund’s purpose is
“LOOK WHAT BAHRAIN DID- country in ten years’ time. It preme Commander and Chair- to provide additional capital
they were able to build a pro- sounds like an ambitious dream man of the Bahrain Economic to innovative and technology-
gram that was ultimately able for a country that is often Development Board (EDB). driven startups in Bahrain and
to build the venture capital described as the smallest of the These include a reduction in across the Middle East through
IMAGES COURTESY AREIJE AL SHAKAR | UNBOUND BAHRAIN
capacity in Bahrain, and across GCC economies; however, in the minimum capital required venture capital funds currently
the region.” That’s Areije Al recent years, Bahrain’s startup for starting a business, meas- established in Bahrain as well
Shakar, Senior Vice-President ecosystem has benefitted from ures to enable onshore crowd- as by attracting new funds
and Head of Development a number of significant initia- funding in conventional and to the region. “I think we are
Services at Bahrain Develop- tives and reforms as part of the Sharia-compliant finance, and lucky because we are small
ment Bank (BDB) and the Fund country’s Economic Vision the introduction of a regulatory and agile,” says Al Shakar,
Manager at Al Waha Fund of 2030 initiated by HRH Prince sandbox. Nevertheless, until responding to what armed this
Funds, imagining how people Salman bin Hamad Al Khalifa, last year, one important part of small Gulf island to fight for an
would be talking about her the Crown Prince, Deputy Su- this puzzle was still missing. asset class that many investors
30 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
still fear. “Other countries in for another startup, it might and Bahrain Development led to creating ideal economic
the region are doing it as well, be better to be in Saudi, and Bank, which serves as the conditions for technology
but they are larger economies ultimately, each person will general partner managing innovation and business
with a lot more stakeholders, find what they are looking for. the fund. “All of us came growth and diversification that
so it might take them a little What I can say about Bahrain together, put the $100 million Silicon Valley is known for
longer. But that doesn’t mean is that we are efficient, fast, together, because ultimately today. “Our fund does tap into
they aren’t doing it, because agile, we have talent, and, at this is the asset class of the the emotions of the people, in
right now, we are in discus- the same time, we have the future,” Al Shakar reiterates. the sense that Silicon Valley
sions to collaborate, as each ease of living. Because, some- “Regardless of whether you started out with the support of
one of us wants to build the times, when a startup comes, are the big guys, such as the government. And another
region. If a company in Saudi it’s not about just the compa- the sovereign wealth fund, beauty of Silicon Valley is that
gets funding and wants to ny, but that they are bringing or you are the smaller one, they have a local talent mixed
expand into Bahrain, that’s a their whole family over here.” like Bahrain Development in with foreign talent, so when
success, regardless of whether The fund’s limited partners Bank, the venture world is we get a question here: ‘Oh,
it’s for Saudi or for Bahrain, include Bahrain’s sovereign important. Also, regardless of but how are you controlling
it’s a success for the region. I wealth fund Mumtalakat, whether you are tapping into the competition? How are
always say that Bahrain might National Bank of Bahrain, identifying innovation and you protecting the locals?,’ I
be great for one startup, but Batelco Group, Tamkeen, the next in-class products or always say that it’s not about
services that could disrupt that, because the best of the
you as an organization or an best will survive in any type
"REGARDLESS OF WHETHER incumbent, it is ultimately of environment, but it’s about
about diversifying your creating opportunities [for
YOU ARE TAPPING INTO IDENTIFYING investment pool.” The idea everyone], and about the
INNOVATION AND THE NEXT has been well tested– decades
before Silicon Valley became
fact that in Bahrain, you will
always see a Bahraini working
IN-CLASS PRODUCTS OR SERVICES known as home to the majority in a team with a non-Bahraini
THAT COULD DISRUPT YOU AS of the world’s unicorns, the
US government had been one
[and vice versa].”
The formula for this new ini-
AN ORGANIZATION OR AN INCUMBENT, of the biggest customers of tiative is simple: the Al Waha
IT IS ULTIMATELY ABOUT DIVERSIFYING the research projects carried
by Stanford professors and
Fund of Funds will distribute
financing to existing global
YOUR INVESTMENT POOL.” students which, eventually, and regional VC funds, which
will further allocate funding to
startups. The fund has already
allocated 45% of its inaugural
$100 million to venture capital
firms, namely BECO Capital,
Middle East Venture Partners,
Wamda Capital, 500 Startups,
and European fund manager
Finch Capital, and aims to de-
ploy the remaining part within
the next couple of years. “So,
with this $100 million, we
are saying that it’s not just
us investing into a regional
venture capital fund, or funds
that have a regional angle
-although it is true that we
are ultimately trying to build
the region- but that we can do
much more for them [partners
from abroad],” Al Shakar says.
“When a venture capital firm
comes to a country, not only
do they want money (because
the truth is that there is mon-
ey everywhere), but they want >>>
Areije Al Shakar at the Unbound Bahrain held at the Bahrain National Theatre in March
April 2019 / E N T R E P R E N E U R . C O M / 31INNOVATOR
to be helped with the regis- of the Bahrain Development initiatives the country has them, Al Shakar says, have giv-
tration, which is the EDB, or Bank, including Rowad, a pro- enacted include Flat6Labs en results. There is no reason,
with creating and coordinating gram launched in 2015 to offer accelerator program, an initia- she adds, to expect the op-
their deal flow, identifying coaching, training, mentorship, tive of Bahrain’s employment posite from the Al Waha Fund
talent, and so on. Also, we can incubation, and funding of fund Tamkeen in partnership of Funds. "What we are seeing
give them business partners. up to $66,000 (BHD25,000) with Cairo-headquartered already is that people want to
If their portfolio companies through its accelerator for Flat6Labs, or a new national do this, meaning that fam-
are looking to expand in the early-stage startups Seed Fuel. bankruptcy law which was ily offices are creating funds
region, we have the EDB to SeedFuel currently has seven brought in last year, and all of which they are calling micro or
support them straight off the portfolio companies of which mini VCs to tap into this asset
bat. It’s kind of becoming a three have received follow on class,” she says. “That didn’t
platform to help venture capi- rounds of funding with the "WHAT HAPPENS NEXT exist two years ago. Actually,
talists fund managers not only support from the BDB Rowad IS ABOUT THE CULTURE- now people are quitting their
to be able to get that fuel, but team. Furthermore, Rowad THE BEST VCS WILL STAY jobs and saying: ‘You know,
also to scale them up and help hosts a number of incubators, ALIVE AND THEY WILL we want to create our own VC,
them succeed in building their including the Bahrain Busi- CONTINUE, AND THEY and come together as broth-
portfolios.” ness Incubator Centre (BBIC), WILL ATTRACT THE BEST ers and sisters to ultimately
Bahrain’s open arms position Bahrain Women Incubator DEAL FLOW. AND THERE start our fund.’ What happens
towards startups has been Center (Riyadat), and the ICT WILL BE OTHER ONES next is about the culture- the
shown through many programs Incubator Rukn.me. Other WHO WILL DIE OFF. " best VCs will stay alive and
they will continue, and they
will attract the best deal flow.
And there will be other ones
Areije Al Shakar, Senior
Vice-President and Head who will die off. That’s how I
of Development Services at see it.”
Bahrain Development Bank The capital deployed by the
(BDB) and the Fund Manager
at Al Waha Fund of Funds
Al Waha Fund of Funds will be
invested across the board, in
startups at a seed, Series A, or
Series B funding stage; how-
ever, the fund might be open
to including some later stage
investments in the future as
well. Al Shakar adds that their
primary target are MENA-
based startups, although the
VCs supported by the fund are
not prevented from explor-
ing the opportunities abroad.
“They are the experts, we are
not, but what we want them
to do for us is to build the
venture capital fund capabili-
ties here,” she explains. “They
will come and spend time here.
Some of them are setting up
offices here, and they will hire
locally. So, it’s about building
that capacity and way of think-
ing for those investments,
because traditional investing
is very different from venture
capital investing.”
At the same time, Al Shakar
is acutely aware of the criti-
cism of the region’s nascent
startup investment landscape,
32 / E N T R E P R E N E U R . C O M / April 2019INNOVATOR
which local entrepreneurs
share on social media quite
often, such as the complaints
that regional investors are too
afraid to say ‘no,’ and keep on
endlessly dragging the negotia-
tions with the funds-seeking
founders, or that they are still
too risk-averse and wait for
an anchor investment before
committing funds themselves.
When asked about these is-
sues, she explains, “Yes, we
come from a culture where we
don’t want to hurt people’s
feelings, and we don’t want
to say no to your face, but
that is something that will
eventually evolve. Today, you
will find some venture capital
fund managers who will tell
you upfront: 'Sorry, this is not
what we are looking for.' And
we have to look at the positive
element coming out of that-
the people who are pitching
are actually getting feedback.
So then, the startups need to were able to speak to the head
think why the fund is not put-
THE AL WAHA FUND OF FUNDS WILL of that department on a day-
ting money into them because DISTRIBUTE FINANCING TO EXISTING to-day basis and build a close
the ones that are really creat- relationship because the regu-
ing an opportunity will always GLOBAL AND REGIONAL VC FUNDS, lators are also on this journey.
have investors fight over them. WHICH WILL FURTHER ALLOCATE So, I do think that Bahrain has
Ultimately, it’s how you posi- a strong angle when it comes
tion yourself.” Furthermore, FUNDING TO STARTUPS. to the financial services. It’s a
Al Shakar adds that one of the very competitive and challeng-
reasons behind rejections often another market, or I don’t have published framework regula- ing environment because you
is the fact that venture capital- the expertise, as opposed to tions on a range of activities are up against the incumbents
ists are ensuring that they you getting stuck with an in- relevant to crypto assets, cov- and the bigger financial in-
invest in ideas which they are vestor who thinks that you are ering areas from licensing and stitutions, but there are huge
more knowledgeable about and great, but then doesn’t open governance to cyber security. opportunities in that sector.”
can help develop. “I respect any doors for you. Sometimes Furthermore, Bahrain Fintech Al Shakar has the dreams
fund managers who say sorry, that can happen. So, I think, Bay, a public private partner- and ambitions of a generation
we can’t do it,” she says. “And as much as VCs need to do ship platform that provides in her reach, and noting that
it’s not because you are not a due diligence on the startup, physical space for fintech privilege and responsibility,
good thing, but because I can’t the startup needs to do due companies which was estab- she says, “My message is that
help you expand and grow to diligence on that VC. There lished last year, has already no matter how crazy your idea
are good startups and bad registered 36 companies from is, there are so many people
startups, and there will always 15 different countries. “We that are here, in Bahrain,
"IT’S ABOUT BUILDING be good investors and bad have two companies which such as mentors, coaches,
THAT CAPACITY AND investors.” graduated from the regula- and venture capitalists who
WAY OF THINKING FOR Although Bahrain acts as tory sandbox that were able are opening their doors and
THOSE INVESTMENTS, the test bed for innovations to influence the regulations,” hosting office hours in Bahrain
BECAUSE TRADITIONAL in all sectors, at the moment, she explains. “In cryptocur- for you to come and talk about
INVESTING IS VERY Al Shakar specifically advises rency, there are just few people your idea. So, I encourage you
WWW.ALWAHAFUND.COM
DIFFERENT FROM fintech startups to consider around the world doing it, but to explore the opportunities
VENTURE CAPITAL setting up in the country. The those startups here had such that are out there, because we
INVESTING.” Bahrain Central Bank recently a strong impact because they will support you.”
April 2019 / E N T R E P R E N E U R . C O M / 33INNOVATOR
Amal Dokhan
"AT DU, WE SEE OUR
SUPPORT OF STARTUPS
AS PART OF OUR
PERSONALITIES [...]
WITHIN THE SOCIETY
THAT WE ARE IN. THAT’S
OUR BRAND’S LOOK AND
FEEL, AND THAT’S HOW
WE POSITION OURSELVES
AS A BRAND."
Juma’s comments allude to
the rather entrepreneurial
beginnings of du in the UAE- in
2007, when it launched, the
telecom landscape was, until
COMPETITIVE
that point in time, dominated
by only a single player. In the
years since, du has built itself
up to become a business to
reckon with, offering every-
ADVANTAGE
thing from data packages to
security solutions, (in Febru-
ary this year, the company
reported its revenue in 2018
had risen by 3.2% to $3.65
billion), and enjoying today a
ABDULWAHED JUMA rather enviable brand recall
in the UAE. But the ubiqui-
tous nature of the brand has
du’s differentiating wins aren’t based on typical telco metrics come with trials of its own for
by ABY SAM THOMAS Juma, who was appointed to
A
his role at du in 2017. “Joining
a company like du, which has
bdulwahed Juma has been blessed with the gift of the gab, seen more than 11 years of suc-
cessful operation, is in itself a
and it’s something that definitely works in his favor in his challenge,” he says. “Because
role as the Executive Vice President of Brand and Corporate when you join a brand that’s
Communications at UAE telco du. Not only does he have an not doing well, it’s easier to fix
extremely affable personality, Juma has a remarkable sense things- no matter where you
put your hand onto, you’ll be
of humor (the audio recording of the chat I had with him aiding it. But when you join
has moments that are filled with just my uproarious laughs a very solid brand, a brand
at his jokes), which, when combined with his genuine interest in making that has already made it, then
conversation, makes this Emirati executive a very easy person to talk and it’s much more difficult to do
that, as you need to put things
relate with. As such, it should come as no surprise then that the brand he in perspective.” It is thus to
represents espouses these values as well- it’s easy to see that du has taken Juma’s credit that during his
on a very humanistic approach to the way it markets itself, and Juma agrees time at the company, du has,
that that this is something that has helped the company get to where it is through its various branding
efforts and initiatives, contin-
today. “du, as a brand, is a success story,” he says. “It’s rare that you find a ued to both stick to and build
local brand start in an overly penetrated market, and in less than 15 years, on its vision to enhance all as-
become one of the top brands in the country, valued at US$6.45 billion. pects of their customer’s lives.
Besides how we started, how we went about serving our customers, and For instance, du’s award-win-
ning Post Wisely campaign was
other such factors, the way we positioned ourselves, as a young, fast, funny,
IMAGES COURTESY DU
conceptualized in response to
and agile brand, has definitely contributed to our success.” the digitally active lifestyles >>>
34 / E N T R E P R E N E U R . C O M / April 2019You can also read
