052: THE MIDDLE EAST STARTUP ECOSYSTEM: The money is there, now what?
10/17/23 • 39 min
If you keep up to date with the latest technology news, you know that the momentum and investment has shifted from Asia to the Middle East. But gone are the days where countries like Saudi Arabia and the UAE just import technology and talent - the new trend across the Middle East is how to create a home-grown technology startup ecosystem - and this is what we are going to cover in today’s podcast.
Let’s face it - money is not going to be an issue - but as we have seen from other countries, just throwing money at the startup ecosystem is no guarantee that it will be successful.
To help us go through this topic, we are joined by the Partner & Co-Founder of SparkLabs Group, Bernard Moon. SparkLabs has made a name for itself by launching accelerators and VC funds in Asia, Australia and the US, but now they are entering the Middle East market, so let’s see what has drawn SparkLabs to that region - and what Bernard thinks will be the critical success factors to making sure they get a return on their investments.
Show Notes:
00:00 Intro to Bernard Moon and SparkLabs Group
02:30 SparkLabs new accelerator programs in Saudi Arabia and Abu Dhabi
06:00 How does SparkLabs plan to find the “best of the best” startups in the Middle East
08:45 Do you see any similarities between the Middle East markets and other countries where you have had success with your accelerators (e.g. Korea, Taiwan)? And are there any specific opportunities and / or risks compared to the other markets you operate in?
14:30 What are the critical success factors for the Middle East markets to develop a home grown startup ecosystem? And what is the role of academia in creating this?
20:30 What does SparkLabs look for in startups that they want to invest in? And are there any red flags that you watch out for?
24:00 What will it take for SparkLabs to view their entry into the Middle East accelerator market a success?
26:00 What can countries like Saudi Arabia and the UAE learn from other markets, like Singapore, that haven’t made the most of their investment / funding of their local startup ecosystem?
30:00 Why are startups keen to be involved with SparkLabs versus the many other accelerator programs in the market?
33:00 Last week, SparkLabs listed it’s USD 100m SPAC (Special Purpose Acquisition Company) on Nasdaq. Can you give us an overview of how this came about and what your strategy for the SPAC is?
More information on SparkLabs can be found here:
Contact Bernard directly: [email protected]
If you keep up to date with the latest technology news, you know that the momentum and investment has shifted from Asia to the Middle East. But gone are the days where countries like Saudi Arabia and the UAE just import technology and talent - the new trend across the Middle East is how to create a home-grown technology startup ecosystem - and this is what we are going to cover in today’s podcast.
Let’s face it - money is not going to be an issue - but as we have seen from other countries, just throwing money at the startup ecosystem is no guarantee that it will be successful.
To help us go through this topic, we are joined by the Partner & Co-Founder of SparkLabs Group, Bernard Moon. SparkLabs has made a name for itself by launching accelerators and VC funds in Asia, Australia and the US, but now they are entering the Middle East market, so let’s see what has drawn SparkLabs to that region - and what Bernard thinks will be the critical success factors to making sure they get a return on their investments.
Show Notes:
00:00 Intro to Bernard Moon and SparkLabs Group
02:30 SparkLabs new accelerator programs in Saudi Arabia and Abu Dhabi
06:00 How does SparkLabs plan to find the “best of the best” startups in the Middle East
08:45 Do you see any similarities between the Middle East markets and other countries where you have had success with your accelerators (e.g. Korea, Taiwan)? And are there any specific opportunities and / or risks compared to the other markets you operate in?
14:30 What are the critical success factors for the Middle East markets to develop a home grown startup ecosystem? And what is the role of academia in creating this?
20:30 What does SparkLabs look for in startups that they want to invest in? And are there any red flags that you watch out for?
24:00 What will it take for SparkLabs to view their entry into the Middle East accelerator market a success?
26:00 What can countries like Saudi Arabia and the UAE learn from other markets, like Singapore, that haven’t made the most of their investment / funding of their local startup ecosystem?
30:00 Why are startups keen to be involved with SparkLabs versus the many other accelerator programs in the market?
33:00 Last week, SparkLabs listed it’s USD 100m SPAC (Special Purpose Acquisition Company) on Nasdaq. Can you give us an overview of how this came about and what your strategy for the SPAC is?
More information on SparkLabs can be found here:
Contact Bernard directly: [email protected]
Previous Episode
051: AI, CHATGPT & FLYING TAXIS: How Government-led initiatives drive the Middle East's Innovation Ecosystem
In Part II of our Middle East Deep Dive, we talk with Carrington Malin to find out how the government's in the Middle East are driving unprecedented growth and innovation.
But it's more than just the tech, they are up-skilling their workforces and training students on how to leverage emerging technologies to transform the traditional industries that support their economies - and develop new ones. Exciting times to say the least...
Show Notes:
1:00 Intro to Carrington Malin and the various roles he has played in the Middle East’s technology ecosystem for the past 30 years.
5:00 How Middle East governments are driving innovation that leverages emerging technologies like Artificial Intelligence by dedicating funds to support their initiatives and creating detailed action plans and deliverables to ensure they go beyond the hype.
11:00 The region’s plans to build “home-grown” taken to support it’s tech and innovation initiatives
16:00 The growth in large language models (e.g. Abu Dhabi’s Technology Innovation Institutes Falcom LLM that rivals ChatGPT and OpenAI)
23:00 How government policies and regulations will ensure the countries like Dubai will lead the way globally around autonomous vehicles - and not just self-driving taxis, they are getting ready for flying taxis
30:00 How government-led initiatives is transforming the region’s talent pool
You can follow Carrington's Middle East AI News on Substack and LinkedIn.Next Episode
053: The NO BULLSHIT Journey: Discovering Your True Self
The tech industry loves to talk about disruption, innovation, and the next big thing—but what about the one algorithm we still struggle to solve? Ourselves.
In this episode of TechBurst Talks, we’re shifting gears. No hype, no buzzwords—just a raw, honest conversation about life, purpose, and what truly matters beyond the boardroom.
Joining me is Uma Thana Balasingham, a former tech leader turned purpose-driven entrepreneur. She’s navigated massive career shifts, personal reinvention, and the kind of introspection that most of us avoid.
We dive into the Hoffman Process, a transformative experience that forces you to look inward, break old patterns, and unlock what’s truly holding you back.
Why do high achievers—people who seem to have it all—feel stuck? And more importantly, how do we get unstuck? Let’s get into it.
01:15 Uma’s journey of Self Discovery through the Hoffman Process
07:56 Introducing solitude in your life
11:40 The Corporate Perception of Self Help: “Are you OK” versus “Investing in yourself”
14:30 Uma’s new venture ELEVATE - and her first three startups
21:40 Why Now? What led Uma down the path of Self Discovery?
25:00 How this journey helped ease her transition from tech industry leader to purpose-driven entrepreneur
40:40 Uma’s journey to financial stability and independence
45:00 Five Year Outlook: What will success look like?
49:30 Why “How are you?” is now one of the most interesting questions someone can ask
Find out more about Uma:
LinkedIn: https://www.linkedin.com/in/umathana/
Instagram: @rawwithuma @umathana1
YouTube: https://www.youtube.com/@RawWithUma
Find out more about ELEVATE:
LinkedIn: https://www.linkedin.com/company/elevateasia
LinkedIn: https://www.linkedin.com/company/elevate-the-business
Instagram: @elevateasiaorg
Find out more about the Hoffman Process
Facebook: https://www.facebook.com/HoffmanCentre/
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