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Welcome to this week's technology updates & insights in the Tech A newsletter. This week's round-up has good news about blockchain adoption in the Middle East as well as a flurry of upcoming funding programs for startups.

⚡ Your 2-Minute Summary

📊 MENA Tech Updates

• Tokinvest received first VARA license in DMCC Dubai for tokenizing real estate

• DAMAC partners with MANTRA to tokenize $1B in real estate assets by early 2025

• Mastercard launches Crypto Credential in UAE for simplified cryptocurrency transactions

• AIQ (UAE) partners with Colombia's Ecopetrol for AI-powered energy solutions

💶 Tech Funding & Support Programs

• SEF x 1Tank Competition: AED 200K grants, deadline Jan 26

• Hub71 Programs (AI, ClimateTech, Digital Assets, Access): All due Feb 1

• Misk Accelerator 2025: Early-stage tech startups, deadline Feb 10

• Flat6Labs Riyadh: SAR 500K seed funding, deadline extended to Jan 28

🗓️ Upcoming Events

• Dubai International Project Management Forum: Jan 13-16

• GITEX Africa: April 14-16, Marrakech

• Arab Health: Jan 27-30, Dubai World Trade Centre

• Abu Dhabi Sustainability Week: Jan 12-18

🔍 Resources & Market Insights ASTRA Tech report findings:

• UAE leads Middle East AI adoption (53.25%)

• 44.74% of UAE companies deeply integrating AI

• Localization crucial for cultural sensitivity

• 46% of UAE users use AI for information retrieval

Interested to know more? Scroll below ⬇️ (10 minutes read)
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📊 MENA Tech Updates

We’ve got a lot of positive Web3 news this week. Mastercard is bringing decentralized payment to UAE while Tokinvest got an authorization to digitalize real world assets.

First Licence in DMCC (Dubai) given to Tokinvest to tokenize real estate investment

Tokinvest, a marketplace for real-world asset (RWA) investing, has received a full market license from the Dubai Virtual Assets Regulatory Authority (VARA). This makes Tokinvest the first company within Dubai’s DMCC Free Zone to obtain an operational VARA license. The license allows Tokinvest to operate as a virtual asset broker-dealer, serving retail, qualified, and institutional investors in and from Dubai.

Why it’s important:

• Regulatory Milestone: This achievement underscores Dubai's progressive regulatory framework, which supports innovation and secure operations in the crypto space.

• Market Accessibility: Tokinvest's platform democratizes access to prestigious assets through fractional investments, enhancing liquidity and investment opportunities.

• Blockchain Integration: Leveraging blockchain technology, Tokinvest provides a seamless, secure, and efficient platform for fractionalizing real-world assets.

The authorization paves the way to the generalization of blockchain use to make expensive real world assets accessible to everyone while ensuring transparency.

For more details, you can read the full article here.

DAMAC wants to tokenize $1bn in real-world assets

Speaking of real world assets. DAMAC Group has partnered with blockchain firm MANTRA to tokenize $1 billion in real-world assets (RWAs) in the Middle East. This collaboration aims to drive the adoption of blockchain technology, enabling fractional ownership and tokenized real estate investment opportunities.

Highlights

• Token-Based Financing: Focus on real estate, hospitality, data centers, and other critical sectors.

• Minimum Value: Targeting assets with a minimum value of $1 billion.

• Blockchain Integration: Assets will be available on MANTRA Chain in early 2025, enhancing transparency, security, and accessibility.

For more details, you can read the full article here.

Mastercard simplifies cryptocurenncy usage in UAE for everyone

Mastercard has introduced its Crypto Credential solution to the UAE and Kazakhstan, marking its debut in the EEMEA region. This solution allows users to send and receive cryptocurrencies using simple aliases instead of complex blockchain addresses, ensuring transactions proceed only when the recipient’s wallet supports the transferred asset.

Highlights

• Enhanced Security & User experience: The system reduces the risk of failed or lost transactions by verifying users and ensuring compliance with regulatory frameworks.

• Global Expansion: The initiative is part of Mastercard's broader strategy to increase trust in blockchain technology and transform digital asset interactions.

• Future Applications: Mastercard plans to expand Crypto Credential’s applications to NFTs, ticketing, and other payment solutions.

For more details, you can read the full article here.

AIQ (UAE) and Ecopetrol Partner to Drive AI-Powered Energy Transition in Colombia

AIQ, an Abu Dhabi-based leader in AI-driven energy solutions, has signed a strategic collaboration agreement (SCA) with Colombia’s national oil giant, Ecopetrol. This partnership aims to integrate AI-powered technologies into Ecopetrol’s operations over an initial 24-month period.

Highlights

• Operational Efficiency: AIQ's AI solutions are expected to optimize oil and gas production, improve safety standards, and reduce environmental impact.

• Sustainability: AI-powered technologies will help Ecopetrol reduce its carbon footprint and enhance energy efficiency.

• Innovation: The partnership will leverage AIQ's advanced AI products, such as RoboWell and EmissionX, to drive innovation in the energy sector.

Source: GulfBusiness

💶 Tech Funding & Support programs

We’ve got a lot of funding programs with deadlines at the end of January. Here is a quick recap.

SEF x 1Tank Startup Pitch Competition

Organized by the Sharjah Entrepreneurship Center (Sheraa) in partnership with '1Tank', this competition offers grants totaling AED 200,000 and potential investor funding up to AED 500,000. Winners also receive free flight tickets from Air Arabia.

• Application Deadline: January 26, 2025

• Focus Sectors: EdTech, Sustainability, Creative Industries, Tech & Industry 4.0

• Source: link

Hub71 Programs

Source: link

AI Program:

• Application Deadline: February 1, 2025

• Focus Sectors: Artificial Intelligence

Hub71 in Abu Dhabi offers this program for startups harnessing AI technologies, providing access to a global network, mentorship, and potential funding opportunities.

Hub71+ ClimateTech Program

• Application Deadline: February 1, 2025

• Focus Sectors: Climate Technology

• This program supports startups developing solutions in climate technology, offering resources to scale and access to a global network.

Hub71+ Digital Assets Program

• Application Deadline: February 1, 2025

• Focus Sectors: Digital Assets, Blockchain

• Details: Focused on startups in the digital assets space, this program provides support, mentorship, and potential funding to accelerate growth.

Access Program Hub71

• Application Deadline: February 1, 2025

• Focus Sectors: Various

• Details: Aimed at established startups looking to scale, this program offers access to a global network, mentorship, and potential funding opportunities.

Misk Accelerator Program 2025

The Misk Accelerator Program is designed to support early-stage tech startups that aim to operate and grow in Saudi Arabia, the largest market in the MENA region. Founded in 2019, the program has supported 173 startups across 9 cohorts. Their startup have a collective valuation of 2.28 Billions

Key Features: 1-to-1 Coaching Sessions, Focus Weeks, Investor Night, & Demo Day culminating in a an investment from partnered VC ventures. Just apply!

Requirements

• Tech Focus: Must be a tech startup.

• Early-Stage: Should have early traction.

• KSA Market: Must be operating or planning to scale in Saudi Arabia.

Important Deadlines

• Application Deadline: February 10, 2025.

• Program Start: February 23, 2025.

• Program End: 3 months until June 29, 2025.

Source: link

Flat6Labs Riyadh Seed Program (Deadline Extended)

The Flat6Labs Riyadh Seed Program supports Saudi Arabian startups with high growth potential, enhancing their entrepreneurial skills and creating opportunities for scaling up in the MENA region. The program will provide seed funding to more than 20 Saudi startups annually over the next three years.

Important Dates

• Application Deadline (Extended): January 28, 2025

• Program Start: February 15, 2025

• Program End: May 15, 2025

Requirements

• Full-Time Commitment: Applicants must be fully dedicated to the 4-month program.

• Residency: Applicants must reside in any city in Saudi Arabia. Applicants can be non Saudi Nationals.

Key Features

• Seed Funding: SAR 500,000 in cash seed funding.

• Follow-on Funding: Up to SAR 2,400,000 in follow-on funding.

• Mentorship: Strategic mentorship and one-to-one sessions with experts.

• Legal Support: Assistance with legal matters.

• Marketing & PR: Support for marketing and public relations.

• Demo Day: Opportunities to pitch to investors and network with business leaders.

• Fundraising: Access to investors and fundraising opportunities.

Source: Flat6Labs Riyadh Seed Program website.

🗓️ Upcoming Events

Dubai International Project Management Forum

This 10th edition is a premier event that brings together global leaders and experts in project management to share insights, best practices, and innovative solutions.

Important Information

• Date: January 13-16, 2025

• Location: Madinat Jumeirah, Dubai

• Target Audience: Project management professionals, industry leaders, and innovators.

• Masterclasses: In-depth sessions on AI, customer-centric PMO, risk management, and more.

• Networking Opportunities: Connect with industry professionals and leaders.

For more details, you can visit the DIPMF website.

Gitex Africa: Registration Open for Startups

GITEX Africa 2025 is Africa's largest tech and startup show, bringing together the world's cutting-edge technology and brightest minds to catalyze Africa's innovation-driven future.

Important Information

• Date & Localtion: April 14-16, 2025, Marrakech, Morocco

• Exhibitors: Over 1,400 exhibiting companies and startups.

• Investors: 350+ investors looking for the next big thing in the digital economy.

• Government Entities: Participation from 650+ government entities.

• Target Audience: Tech enthusiasts, startups, investors, government representatives, and industry leaders.

• Overall Themes: AI, Connectivity, Fintech, Cybersecurity, Health, Agritech, and Sustainable solutions.

For more details, you can visit the GITEX Africa website. For Startups you can register here.

Arab Health: The largest healthcare exhibition in MENA

It' has become a tradition for me to go there. I’ve met potential business partners, startups & saw the latest innovation in healthcare. The exhibition features 3,800+ exhibitors showcasing cutting-edge medical innovations, AI healthcare solutions, and sustainable technologies. Connect with 60,000+ healthcare professionals from 180+ countries.

Who is it for and why:

• Healthcare Professionals & Practitioners: Access CME-accredited conferences and latest industry insights

• Medical Technology Companies: Showcase products across 9 sectors including medical equipment, IT solutions, and imaging

• Startups: Pitch opportunities at Innov8 platform and connect with investors

• Investors: Dedicated Investor Lounge for funding discussions with startups and scale-ups

Key Features:

• New Al Mustaqbal Hall focusing on sustainable healthcare

• Transformation Zone featuring expert talks on AI, robotics, and nanomedicine

• Smart Hospital Zone demonstrating next-gen patient care technologies

• 12 specialized conferences covering digital health, AI, and public health

Dates & Registration: January 27–30, 2025 Dubai World Trade Centre Register at Arab Health Online

Abu Dhabi Sustainability Week

ADSW 2025 is the first major event in the global sustainability calendar, taking place from January 12-18 in Abu Dhabi. Under the theme "The Nexus of Next. Supercharging Sustainable Progress," the event aims to accelerate the transition to a sustainable economy and foster interconnected solutions for socioeconomic growth.

Important information:

• Dates: January 12-18

• Target Audience: Global Leaders, Industry leaders, entrepreneurs, and NGOs.

• Overall Themes: Renewable Energy, Climate Finance, Green Hydrogen, Youth and Women's Leadership in Sustainability, Smart Cities and Innovation

For more details, you can visit the ADSW website.

🔍 Resources & Market Insights

ASTRA Tech Insights on Actionable GenAI in the Middle East

MIT Sloan Management Review Middle East, in collaboration with Astra Tech, has released a white paper titled "Leveraging Actionable Gen AI in the Middle East." The report explores the transformative opportunities posed by large language models (LLMs), small language models (SLMs), and large action models (LAMs) in the region.

Highlights

• UAE Leadership: The UAE is leading AI adoption in the Middle East, with 53.25% of survey respondents based in the country.

• AI Integration: Nearly half (44.74%) of companies in the UAE are deeply integrating AI into customer service and product development.

• Localisation is important: Emphasis on localising AI solutions to address cultural sensitivities and compliance. This is a common pattern I’ve seen in the other report by Mckinsey (shared last week)

• AI-Driven Customer Experience: 46% of UAE users engage with AI for information retrieval, and 33% for customer service and support.

Read the report: Astra-Tech-Report.pdf

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