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Prepared for:
PreMoney MENA
Emile Cubeisy
@ecubeisy
MENA’S GOLDEN ENTREPRENEURIAL AGE
BLINK&
YOU’LLMISS
WE BRIDGE BETWEEN EAST…
WHO WE ARE
Through our Middle East-focused fund, Badia Impact Fund, we invest in and work with
ent...
…AND WEST
WHO WE ARE
Through our US-focused fund, Badia Outreach Fund, we invest in startups that are building
technologie...
A TYPICAL MENA DAY STARTS WITH
INFINITE CHALLENGES…
WHY WE WAKE UP
Emile Cubeisy - @ecubeisy - siliconbadia.com
= INFINITE OPPORTUNITIES
WHY WE WAKE UP
Emile Cubeisy - @ecubeisy - siliconbadia.com
AND MANY (MANY) ARE
TAKING ADVANTAGE
WHY WE WAKE UP
Emile Cubeisy - @ecubeisy - siliconbadia.com
0
30
60
90
120
2010 2015
114
15
MENA Facebook Users (Millions)
100 million USERS
added in
5 years
0
40
80
120
160
2011 201...
"Flawlessly earning first
place annually as the world's
most depressed region and
given the intense scientific
correlation...
0
7500
15000
22500
30000
2015
1,670
22820
Global Retail (US$ billion)
Global eCommerce (US$ billion)
7.32% of total retail...
“E-COMMERCE STILL
ONLY MAKES UP 1% OF
RETAIL TRANSACTIONS
IN MENA, YET 85% OF
THOSE TRANSACTIONS
HAPPEN ON FOREIGN AND
NOT...
“LESS THAN 0.05% OF
REGISTERED BUSINESSES
HAVE ONLINE STORES”
SaaS
ShopGo Investors:
Silicon Badia, Wamda Capital, 500 Sta...
0
150
300
450
600
2015
171
531
Global Total Ad Spend (US$ billion)
Global Digital Ad Spend (US$ billion)
Average global di...
“LESS THAN 1% OF ALL APPS
ARE AVAILABLE IN ARABIC,
ALTHOUGH DATA SUGGESTS
THAT 60% OF APP USERS IN
THE MENA REGION PREFER
...
“3 OUT OF 4 LITERATE ARABS
READ REGULARLY WITH THE
HIGHEST INCIDENCE OF READERS
IN EGYPT (88%) AND KSA
(94%), BUT LESS THA...
Access to Finance (Jordan)
Emile Cubeisy - @ecubeisy - siliconbadia.com
Access to Formal Bank Loans
0%
25%
50%
75%
100%
Mi...
“THERE'S A $240 BILLION
SME LENDING GAP IN MENA -
ONLY 8% OF BANK LENDING
GOES TO THE COMPANIES
THAT DRIVE 60 - 80% OF ALL...
Fintech
“AROUND 85% OF TRANSACTIONS
IN MENA ARE CASH BASED,
CREDIT CARD AND CURRENT E-
PAYMENT SOLUTIONS HAVE LOW
PENETRAT...
“There are in Egypt alone more
than ~180 million annual
doctor visits with an average
of 1.5 hours waiting time,
that’s mo...
…INCLUDING GLOBAL OPPORTUNITIES
WHY WE WAKE UP
Emile Cubeisy - @ecubeisy - siliconbadia.com
“FOR 3D PRINTING TO REACH ITS
POTENTIAL, THEN A BRIDGE
SHOULD EXIST BETWEEN CONTENT
AND 3D PRINTERS.
MAKEPRINTABLE DOES TH...
AND THOUSANDS UPON THOUSANDS
MORE ACROSS THE REGION ARE
LEVERAGING GROWTH…
WHY WE WAKE UP
Emile Cubeisy - @ecubeisy - sili...
SO WHO ELSE
ISN’T BLINKING…
Emile Cubeisy - @ecubeisy - siliconbadia.com
WHO’SE NOT BLINKING
SOME VC INVESTORS IN THE ECOSYSTEM
MENA Based Global with MENA Interest
Source: MENAScapes QI 2015
Emi...
WHO’SE NOT BLINKING
SOME ACCELERATORS, INCUBATORS, CO-WORKING SPACES IN THE ECOSYSTEM
Accelerators Incubators and Tech Spa...
WHO’SE NOT BLINKING
Source: MENAScapes QI 2015
Accelerators
SOME BUSINESS PLAN COMPETITIONS IN THE ECOSYSTEM
Emile Cubeisy...
WHO’SE NOT BLINKING
RESULTS OFF THE CHARTS
Emile Cubeisy - @ecubeisy - siliconbadia.com
Participation has peaked to 6,000
...
WHO’SE NOT BLINKING
GROWING WIDER, CHANGING, AND
CONVERGING BY THE DAY
Emile Cubeisy - @ecubeisy - siliconbadia.com
Univer...
AND NEW
OPPORTUNITIES ARE TAKING SHAPE
Emile Cubeisy - @ecubeisy - siliconbadia.com
LOOK AT SOME DEALS ANNOUNCED SINCE AUGUST 2015…
Transaction Company Investors Value
Acquisition Fawry (Egypt) Consortium $...
BUT WE’VE GOT POTENTIAL
TO DO MUCH BETTER
Emile Cubeisy - @ecubeisy - siliconbadia.com
0.0
0.3
0.6
0.9
1.2
1.5
1.8
Israel
UnitedStates
UnitedKingdom
SouthKorea
India
Brazil
Sub-SaharanAfrica
Poland
China
South...
SO WHAT ARE WE
SEEING?
Emile Cubeisy - @ecubeisy - siliconbadia.com
STARTUPS ARE BOTH SOLVING
REAL DEVELOPMENTAL
CHALLENGES AND DELIVERING
PRODUCTS AND SERVICES THAT
RAISE QUALITY OF LIFE
WH...
PEOPLE, IDEAS, AND
CAPITAL ARE ALL MOBILE.
MORE AND MORE PEOPLE
ARE PARTICIPATING.
WHAT WE ARE SEEING (2)
Emile Cubeisy - ...
WITHIN THE TECH/VC/STARTUP UNIVERSE, THERE IS
SIGNIFICANT CROSS-BORDER ACTIVITY, BOTH
REGIONAL AND GLOBAL.
WHAT WE ARE SEE...
AS INVESTORS, WE ARE
CONSTANTLY ADAPTING TO
CAPTURE OPPORTUNITIES.
WE DO NOT NEED TO FULLY
UNDERSTAND HOW ALL OF
THESE DOT...
THE DIVERSITY OF INVESTMENT STYLES AND
MANDATES EACH OF US BRINGS IS A NET POSITIVE
FOR OUR WORK IN THE REGION. WE’RE ENSU...
EXTRAPOLATE AND LOOK FORWARD…
WITHIN A BLINK, WE’LL ALL
SEE A MUCH BETTER MENA.
Emile Cubeisy - @ecubeisy - siliconbadia.c...
THANK YOU
PANTONE 7530 U
Emile Cubeisy- emile@siliconbadia.com - @ecubeisy
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[PreMoney MENA 2015] Silicon Badia >> Emile Cubeisy, "MENA's Golden Entrepreneurial Age: What's Working, What's Not & What's Next? "

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Emile Cubeisy, Managing Partner, Silicon Badia

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[PreMoney MENA 2015] Silicon Badia >> Emile Cubeisy, "MENA's Golden Entrepreneurial Age: What's Working, What's Not & What's Next? "

  1. 1. Prepared for: PreMoney MENA Emile Cubeisy @ecubeisy MENA’S GOLDEN ENTREPRENEURIAL AGE BLINK& YOU’LLMISS
  2. 2. WE BRIDGE BETWEEN EAST… WHO WE ARE Through our Middle East-focused fund, Badia Impact Fund, we invest in and work with entrepreneurs building category leaders in the region as well as globally relevant technologies. # of Investments = 11 Emile Cubeisy - @ecubeisy - siliconbadia.com
  3. 3. …AND WEST WHO WE ARE Through our US-focused fund, Badia Outreach Fund, we invest in startups that are building technologies in niche markets within traditional “offline” sectors including life sciences, healthcare technologies, real estate, education, agriculture, and others. # of Investments = 30+ Emile Cubeisy - @ecubeisy - siliconbadia.com
  4. 4. A TYPICAL MENA DAY STARTS WITH INFINITE CHALLENGES… WHY WE WAKE UP Emile Cubeisy - @ecubeisy - siliconbadia.com
  5. 5. = INFINITE OPPORTUNITIES WHY WE WAKE UP Emile Cubeisy - @ecubeisy - siliconbadia.com
  6. 6. AND MANY (MANY) ARE TAKING ADVANTAGE WHY WE WAKE UP Emile Cubeisy - @ecubeisy - siliconbadia.com
  7. 7. 0 30 60 90 120 2010 2015 114 15 MENA Facebook Users (Millions) 100 million USERS added in 5 years 0 40 80 120 160 2011 2015 155 9.1 MENA Smartphones (Millions) 145 million SMARTPHONES added in 4 years Source: SpotOn, Facebook Source: IDC-CEMA Evolution at an Accelerated Pace
  8. 8. "Flawlessly earning first place annually as the world's most depressed region and given the intense scientific correlations between depression, creativity and self expression, today's 224 million Arab youth are weapons of mass disruption." Self-Expression JoBedu Investors: the crowd via Eureeca
  9. 9. 0 7500 15000 22500 30000 2015 1,670 22820 Global Retail (US$ billion) Global eCommerce (US$ billion) 7.32% of total retail Source: eMarketer Source: IDC-CEMA 0 250 500 750 1000 2015 15 1000 Middle East Retail (US$ billion) Middle East eCommerce (US$ billion) 1.5% of total retail e-Commerce Emile Cubeisy - @ecubeisy - siliconbadia.com
  10. 10. “E-COMMERCE STILL ONLY MAKES UP 1% OF RETAIL TRANSACTIONS IN MENA, YET 85% OF THOSE TRANSACTIONS HAPPEN ON FOREIGN AND NOT LOCAL SITES. THERE’S A LOT TO BE DONE.” e-Commerce CashBasha Investors: 500 Startups, Aramex Ventures
  11. 11. “LESS THAN 0.05% OF REGISTERED BUSINESSES HAVE ONLINE STORES” SaaS ShopGo Investors: Silicon Badia, Wamda Capital, 500 Startups, Oasis 500, Angels
  12. 12. 0 150 300 450 600 2015 171 531 Global Total Ad Spend (US$ billion) Global Digital Ad Spend (US$ billion) Average global digital ad spend as % of total ad spend 32.20% Source: ZenithOptimedia, Warc Source: Arab Media Outlook 0 2 3 5 6 2015 0.5 6 MENA Total Ad Spend (US$ billion) MENA Digital Ad Spend (US$ billion) Digital Adspend Average MENA digital ad spend as % of total ad spend 9.33% . to reach global average, there is a $1.37 billion opportunity. Emile Cubeisy - @ecubeisy - siliconbadia.com
  13. 13. “LESS THAN 1% OF ALL APPS ARE AVAILABLE IN ARABIC, ALTHOUGH DATA SUGGESTS THAT 60% OF APP USERS IN THE MENA REGION PREFER CONSUMING CONTENT IN THEIR OWN LANGUAGE.” Media and Entertainment Tamatem Investors: 500 Startups, Arzan Ventures, Kima Ventures, MVI, Funders Club, MI Ventures, Angels
  14. 14. “3 OUT OF 4 LITERATE ARABS READ REGULARLY WITH THE HIGHEST INCIDENCE OF READERS IN EGYPT (88%) AND KSA (94%), BUT LESS THAT 2% OF ARABIC BOOKS HAVE LEGAL PRESENCE ONLINE, BE IT EBOOKS PRESENCE OR SIMPLY BOOK REVIEWS, RATINGS, AND RECOMMENDATIONS TO HELP IN BOOK DISCOVERY” Content Abjjad Investors: the crowd via Eureeca, Oasis 500, Angels
  15. 15. Access to Finance (Jordan) Emile Cubeisy - @ecubeisy - siliconbadia.com Access to Formal Bank Loans 0% 25% 50% 75% 100% Micro Small Medium Large Leader 3% 51%65%74%86% 97% 49% 35% 26% 14% Access to Formal Bank Loans No Access To Formal Bank Loans
  16. 16. “THERE'S A $240 BILLION SME LENDING GAP IN MENA - ONLY 8% OF BANK LENDING GOES TO THE COMPANIES THAT DRIVE 60 - 80% OF ALL EMPLOYMENT AND ECONOMIC GROWTH IN THE REGION” Fintech Liwwa Investors: Dash Ventures, Etihad Bank, MVI, Silicon Badia
  17. 17. Fintech “AROUND 85% OF TRANSACTIONS IN MENA ARE CASH BASED, CREDIT CARD AND CURRENT E- PAYMENT SOLUTIONS HAVE LOW PENETRATION AMONG CONSUMERS, THERE'S A NEED FOR BETTER, SECURE AND CHEAPER EPAYMENT OPTIONS AMONG CONSUMERS AND BUSINESSES”
  18. 18. “There are in Egypt alone more than ~180 million annual doctor visits with an average of 1.5 hours waiting time, that’s more than 240 million lost hours annually. Vezeeta is fixing this in Egypt and in the rest of the region” HealthTech Dr. Bridge Investors: Technology Development Fund, Silicon Badia, Angels
  19. 19. …INCLUDING GLOBAL OPPORTUNITIES WHY WE WAKE UP Emile Cubeisy - @ecubeisy - siliconbadia.com
  20. 20. “FOR 3D PRINTING TO REACH ITS POTENTIAL, THEN A BRIDGE SHOULD EXIST BETWEEN CONTENT AND 3D PRINTERS. MAKEPRINTABLE DOES THAT BEST. 90% OF 3D MODELS IN 3DWAREHOUSE AND DAZ3D ARE NOT READY TO BE 3D PRINTED.” IP Emile Cubeisy - @ecubeisy - siliconbadia.com MXD3D Investors: Silicon Badia, Alsop Louis Partners, Dolby Ventures, Angels
  21. 21. AND THOUSANDS UPON THOUSANDS MORE ACROSS THE REGION ARE LEVERAGING GROWTH… WHY WE WAKE UP Emile Cubeisy - @ecubeisy - siliconbadia.com
  22. 22. SO WHO ELSE ISN’T BLINKING… Emile Cubeisy - @ecubeisy - siliconbadia.com
  23. 23. WHO’SE NOT BLINKING SOME VC INVESTORS IN THE ECOSYSTEM MENA Based Global with MENA Interest Source: MENAScapes QI 2015 Emile Cubeisy - @ecubeisy - siliconbadia.com
  24. 24. WHO’SE NOT BLINKING SOME ACCELERATORS, INCUBATORS, CO-WORKING SPACES IN THE ECOSYSTEM Accelerators Incubators and Tech Spaces Source: MENAScapes QI 2015 Emile Cubeisy - @ecubeisy - siliconbadia.com
  25. 25. WHO’SE NOT BLINKING Source: MENAScapes QI 2015 Accelerators SOME BUSINESS PLAN COMPETITIONS IN THE ECOSYSTEM Emile Cubeisy - @ecubeisy - siliconbadia.com
  26. 26. WHO’SE NOT BLINKING RESULTS OFF THE CHARTS Emile Cubeisy - @ecubeisy - siliconbadia.com Participation has peaked to 6,000 participants from 1,500 in 2006 Helped establish over 300 businesses in the region (sustained for more than 2 years) creating over 5k jobs Half of participants are women led teams 21 participation countries with Iraq, Yemen, Palestine and Sudan contributing regularly. Top countries are Egypt, Jordan Lebanon and more recently KSA showing 200% growth year on year In less than its first year of established, Zinc has enabled: 130 events 17,000+ attendees 800+ entrepreneur members (average of 60 per day) With over 45 startups either working with or getting support from Zain through Zinc. Over $30M raised by Oasis 500 startups. Delivered 38 business development bootcamps, with 2,000 entrepreneurs participated. Received 8,000 business ideas. Invested in 115 companies at seed and early stage.
  27. 27. WHO’SE NOT BLINKING GROWING WIDER, CHANGING, AND CONVERGING BY THE DAY Emile Cubeisy - @ecubeisy - siliconbadia.com Univer sities Angels Accele rators The Crowd Region al VCs Global VCs Privat e Equity Corpor ations Banks Develo pment Financ e Organi zation s Gover nment s Family Offices LPs
  28. 28. AND NEW OPPORTUNITIES ARE TAKING SHAPE Emile Cubeisy - @ecubeisy - siliconbadia.com
  29. 29. LOOK AT SOME DEALS ANNOUNCED SINCE AUGUST 2015… Transaction Company Investors Value Acquisition Fawry (Egypt) Consortium $100M Acquisition Oltob (Egypt) Hellofood - Acquisition Talabat (Kuwait) Rocket Internet $170M Acquisition Dubizzle (UAE) OLX (Naspers) - Acquisition (IP) Silicon Vision (Egypt) Synopsys - Funding Careem (UAE) Abraaj, Arzan, Al Tayyar, STC Ventures, BECO Capital, Impulse, Lumia Capital , Wamda Capital $60M Funding ArabiaWeather (Jordan) Silicon Badia, Wamda, Jabbar, Dash Ventures $7M Funding MXD3D (Jordan) Alsop Louis Patners, Dolby Family Ventures $3M Funding JadoPado (UAE) Beco Capital, other investors $4M Funding UTurn (KSA) Leap Ventures $10M Funding Yaoota (Egypt) KBBO Group $2.7M Funding TaskSpotting (UAE) MENA Venture Investments, other investors $1.2M Funding Mini Exchange (UAE) Angels $1M Funding Compareit4ME (UAE) STC Ventures, Wamda Capital, DSO $3M Fudning Mawdoo3 (Jordan) EquiTrust $1.5M Funding Fetchr (UAE) NEA, Delta Partners, Dhabi Holdings, Roland Berger, Mobiliy 500 Startups $11M Funding Energy 24 Leap Ventures $3M Funding JDR Group (UAE) iMENA - Funding Souq (UAE) IFC $27M Funding ShopGo (Jordan) Silicon Badia, Wamda, 500 Startups $2.3M Funding Wuzzuf (Egypt) Vostok New Ventures, Piton Capital $1.7M ME Growth Uber Uber $250M ME Growth Zomato Temasek $60M ME Growth Deliveroo (UK) DST Global, GreenOaks Ventures, Accel, Hummingbird $100M Source: Wamda, The National, Crunchbase, others Emile Cubeisy - @ecubeisy - siliconbadia.com
  30. 30. BUT WE’VE GOT POTENTIAL TO DO MUCH BETTER Emile Cubeisy - @ecubeisy - siliconbadia.com
  31. 31. 0.0 0.3 0.6 0.9 1.2 1.5 1.8 Israel UnitedStates UnitedKingdom SouthKorea India Brazil Sub-SaharanAfrica Poland China SouthAfrica Japan Turkey Russia MENA 0.010.010.030.040.060.080.090.120.180.21 0.28 0.89 1.01 1.62 0.050.070.040.090.040.090.060.090.20.20.24 1.041.07 1.74 2012 2013 Source: Emerging Markets Private Equity Association PE and VC Investment/GDP (%) Emile Cubeisy - @ecubeisy - siliconbadia.com
  32. 32. SO WHAT ARE WE SEEING? Emile Cubeisy - @ecubeisy - siliconbadia.com
  33. 33. STARTUPS ARE BOTH SOLVING REAL DEVELOPMENTAL CHALLENGES AND DELIVERING PRODUCTS AND SERVICES THAT RAISE QUALITY OF LIFE WHAT WE ARE SEEING (1) Emile Cubeisy - @ecubeisy - siliconbadia.com ▸ In spite of regional turbulence, entrepreneurs and investors are approaching growth with a hero mindset. ▸ The region is showing a tremendous appetite for new products and services, with demand for the most part exceeding supply. ▸ Many of the solutions will take time and patience to see through.
  34. 34. PEOPLE, IDEAS, AND CAPITAL ARE ALL MOBILE. MORE AND MORE PEOPLE ARE PARTICIPATING. WHAT WE ARE SEEING (2) Emile Cubeisy - @ecubeisy - siliconbadia.com ▸ There is no “one” point of origin for startups, and ventures are emerging from all directions, some within our line of site, and others from perspectives we do not yet see and understand. ▸ We need to collectively widen our definition of an ecosystem, both in terms of pipeline and investors. The horizon is far wider than we imagine.
  35. 35. WITHIN THE TECH/VC/STARTUP UNIVERSE, THERE IS SIGNIFICANT CROSS-BORDER ACTIVITY, BOTH REGIONAL AND GLOBAL. WHAT WE ARE SEEING (3) Emile Cubeisy - @ecubeisy - siliconbadia.com ▸ VCs from every country in the regional are co-investing with one another, and also investing alongside global VCs. ▸ Startups are creating in ecosystems wider than their own ▸ LPs of funds are global, regional, and local. ▸ Global startups are also investing in the region.
  36. 36. AS INVESTORS, WE ARE CONSTANTLY ADAPTING TO CAPTURE OPPORTUNITIES. WE DO NOT NEED TO FULLY UNDERSTAND HOW ALL OF THESE DOTS WILL CONNECT, BUT THEY WILL ULTIMATELY CONVERGE. WHAT WE ARE SEEING (4) Emile Cubeisy - @ecubeisy - siliconbadia.com ▸ Speed of closing ▸ Relevance and nature of value added ▸ Sharpening investment policies
  37. 37. THE DIVERSITY OF INVESTMENT STYLES AND MANDATES EACH OF US BRINGS IS A NET POSITIVE FOR OUR WORK IN THE REGION. WE’RE ENSURING WIDE COVERAGE AND HIGHER SUCCESS POTENTIAL. WHAT WE ARE SEEING (5) Emile Cubeisy - @ecubeisy - siliconbadia.com
  38. 38. EXTRAPOLATE AND LOOK FORWARD… WITHIN A BLINK, WE’LL ALL SEE A MUCH BETTER MENA. Emile Cubeisy - @ecubeisy - siliconbadia.com
  39. 39. THANK YOU PANTONE 7530 U Emile Cubeisy- emile@siliconbadia.com - @ecubeisy

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