What's new in Finance ? The bold bet on Tech' in MENA 😃
Jean-David Benichou (Repeat-founder and co-founder of Abraseed)
Hi all 👋
Welcome to this edition of Finscale’s Newsletter !
Whether you're a long-time reader or new here, thank you for reading 😇.
I’ve got to be honest with you, this conversation left a lasting impression on me.
But here’s the thing : I made the classic rookie mistake of setting the recording for only 35’. And yes, I’m still kicking myself for it. Jean-David Benichou wasn’t shy about pointing that out either - fair play to him ! Honestly, this chat deserved an extra hour and I promise, you wouldn’t have seen the time go by.
I genuinely believe Jean-David has lived about five times more lives than I have.
When we grabbed a coffee last October), it literally took 1’ to get him on board. That’s Jean-David for you : things move fast, very fast. No wonder he’s also hosting a podcast on top of everything else he does (👉 here).
Behind Jean-David is a whirlwind of entrepreneurial adventures - Via.io being one of them - and a serious interest in crypto, decentralised finance… and much more.
All in all, what a brilliant encounter !
I loved diving into forward-thinking topics and exploring other ecosystems. There’s truly nothing better to broaden your mind on MENA trends.
Wishing you all a fantastic start to the year.
With love,
Solenne
MENA Region
Over the past decade, the Middle East, particularly the MENA Region (Middle East + North Africa), has emerged as a dynamic Tech’ ecosystem. This transformation has been driven by several factors : of course sovereign wealth funds (especially those from the Gulf States) have played an important role in channeling significant capital in Tech’. Prominent investors like Mubadala (USD 302 Bn AUMs) have made substantial investments in many companies (portfolio 👉 here), demonstrating the region’s ambition to become a major innovation hub.
Government initiatives have also been pivotal in fostering entrepreneurship. National policies aimed at diversifying economies beyond oil have prioritised the digital and Tech’ sectors. As a result, numerous local start-ups have emerged, gradually reshaping the local business landscape. Entrepreneurs in the region now have access to incubation programs, seed funding and a growing pool of international investors, such as Abraseed.
Despite this progress, several challenges still hinder the ecosystems’ full potential. Access to funding remains uneven across countries and projects (as explained by Matthieu Ducorroy in an episode on the European Investment Bank’s investments in VC). While high-profile start-ups often secure large investments, smaller ventures and less visible initiatives still struggle to attract the necessary capital to scale. Additionally, regulatory fragmentation poses a significant hurdle. Each Middle Eastern country operates under distinct legal frameworks, complicating crossborder expansion strategies for start-ups.
A critical obstacle is the shortage of skilled talent. The demand for Tech’ expertise often exceeds local supply, forcing companies to recruit internationally. This talent gap increases costs and slows down the development of certain start-ups, creating a bottleneck for innovation.
Compared to Europe, the MENA’s Tech’ ecosystem is experiencing a faster growth trajectory, fueled by political will and abundant capital. However, the region still faces challenges that Europe has managed to address more effectively over time, such as harmonised regulations and equitable access to financing for small and medium-sized enterprises. While MENA Region has made significant progress in bridging its technological gap, the coming years will be decisive for structuring the ecosystem further and overcoming persistent barriers. By doing so, the region could solidify its position as a global “oasis” for Tech"“ innovation.
What you'll get in this episode
In this episode, we discuss with Jean-David Benichou his latest ambitious project : Abraseed. He shares his insights on Israël, the MENA region and their booming Tech’ ecosystems.
We explore the sectors driving growth and the challenges these ecosystems face. Jean-David’s unique perspective sheds light on why MENA is a prime playground for visionary entrepreneurs.
👉 Curious to learn more? Tune in (HERE) and discover what makes this region a rising star in the global tech scene !
Previous episodes you may want to listen (again) in this field.
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Good article.