'Consensus' Book_Celebration of Entrepreneurship_Wamda_AbraajCapital


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'Consensus is a book that highlights the Celebration of Entrepreneurship 2010, organized by Abraaj Capital and Wamda. A report that follows inspiring sessions, relevant data connecting the region and empowerement outcomes of the event. For more information http://www.wamda.com

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'Consensus' Book_Celebration of Entrepreneurship_Wamda_AbraajCapital

  1. 1. PradeeP ramamurthy Fadi Ghandour Frederic Sicre reza derakhShanihuSSein zahawy Guy manoukian meeSha ShaFi ariF naqvi talvin SinGhSuPhala ariF lohar Feroz Sanaulla karim djerboa h.e. amr dabbaGhtony FeGhali anne z. jaFery ahmed tolba dr. ibrahim babelli michaelmanSour ahmad youniS Peter heath h.e. Sheikh Sultan al qaSSemi SorayaSalti SheriF kamel dr. tarek el Sadany rami khouri robert dunn PetercleaveS raza jaFar ali raGhda el ebraShi iman bibarS kamal mouzawakPamela hartiGan mohammad haj haSSan nabil tarazi amina Slaouiibrahim Slaoui Sean Park matt harriS Saad khan cal SimmonS mauramoore ShariF banna jehane noujaim jack PerSekian aShraF Gori deanobeidallah mohamed el Sawy Peyman Parham al awadhi chriStine codSiali ozGun raShid bin Shabib avi bhojani h. e. Sheikh khaled bin zayed alnehayan GreGory k. erickSen tarek atoui Fadi barGhouti wael attili dr.uSama Fayyad jim hornthal Fahad al-Sharekh Ferit Sahenk h. e. Sheikhalubna al qaSimi h. e. Sheikha hanadi al thani naiF al mutawa ahmad humeidamid abdelnour khurram javed mir mo al adham h.e. reem al haShimyjoichi ito imran khan Sean cleary tony bury S amar dudin oSSamanatto tarek dajani StePhen Garrow judith mchale khater abi habibhabib haddad dr. naSSer Saidi bobby SaGer maher kaddoura Sobhibatterjee abdulrahman al zanki oSman Sultan rabea ataya mohammadal ballaa muStaFa Sani Sener wa’d taweel linda rottenberG Fawaz zubiahmed el alFi loay nazer nileSh ved Faizal kottikolon helmy abouleiShbrendan F. wallace mahmoud ali khaSawneh ian FairService waleed albanawi b.r.Shetty Sahab ahmed bin Shabib neveen el tahri mike caSSidynaGuib SawiriS ahmed metwally muwaFFa lahham thomaS lundGrenShahida Siddique chriStoPher Schroeder adel ali mohamed Parhamal awadhi maySoun odeh GanGat Steve Shore mohamed maFooz ziad alyaySha al mudekhi noor el Fadl huda raShad rami mehdawi monja wolFwajiha malik Farida kaShdan mohammed elkalla kamel al aSmar GeorGe khalaF reemmarto Simran Samtani mohammed eidah Savita aPte ahmad al-mutawanoor alnahhaS abbaS alidine amin anSur ravi bhuSari hanS Schwabnoor aFtab Pankaj jain naSir zubairi kamal haSSan amel makkawi malihatabari anaS bukhaSh haSSan azzazy Fouad queblawi huSSain hallak alitumbi ahmed bin Shabib nazGol anSarinia mohammed el-Fatatry youSuFal haShimi raShid al tunaiji ShareeFa Fadhel Stuart hurSt omar Samramohammed Sabunchi amir anzur marc andre deSchoux Shihab khalil
  2. 2. 60 Spark Sessions - Company Presentations 49 Wamda.com InterviewsCONNECT143 Articles on CoE7000 TweetsMEDIA INSPIRE 239 Speakers Passion Corner 2-5 Passion Corner 1
  3. 3. The CoE at a glance 8-9 November 2010Blogger Area Connect Café 2400 Celebrants 365 Mentorship Sessions 34 Workshops 64 Wamda.com Knowledge Partners EMPOWER Music Breaks1 Pecha Kucha The Corner
  4. 4. ForewordWe convened the Celebration of Entrepreneurship In a way, the biggest success of the CoE was to(CoE) to acknowledge the dynamism and creative demonstrate beyond the shadow of a doubt thatenergy of the entrepreneurs of the MENASA region if entrepreneurs in MENASA - young and old - are(Middle East, North Africa and South Asia). Back given the chance they will respond. The otherin September 2010, it was a bold ‘watch this space’ important thing about the CoE is that the thousandsstatement. In November – barely two months later of entrepreneurs who took part discovered that they– we welcomed 2,400 celebrants together with were part of a broad, powerful and forward-thinking64 global and regional Wamda.com Knowledge network in their own countries and across MENASA.Partners. The positive response to our invitationfrom 220 speakers and entrepreneurs in just a few The CoE is above all a private sector story. The eventweeks was simply unprecedented. Our Facebook was about what entrepreneurs can do for each other.and Twitter pages went viral. To anyone who was It was a call to the private sector to get energized‘watching this space’, we collectively proved that and to dedicate resources. We claim that there is anthe spirit of entrepreneurship does run through the established tradition of entrepreneurs in our regionlifeblood of this region. All it needs to blossom is to and a bright future ahead for entrepreneurship. Tobe unleashed and enabled. us, it has been clear for a while now that what the region really needs is more private sector investmentFrom the onset it was clear that this could not be yet into SMEs and more private sector involvementanother conference. This ‘Anti–Conference’ needed in shaping enabling environments for buddingto be different and to feel different. ‘Unconventional’ entrepreneurs.became a guiding mantra. The CoE stimulated theparticipation of artists and creative entrepreneurs The private sector will take the lead in nurturingas symbols of a new wave of networks. We created tomorrow’s entrepreneurs if for no other reasona highly charged atmosphere where entrepreneurs than the business opportunity it represents: SMEsfrom all walks of life could come together as a in the USA account for 50% of GDP vs. 30% incommunity, demonstrate potential and generate MENASA. While governments in the region pave theenthusiasm. way for incubators and universities, the community of entrepreneurs can already work to stimulate and create more opportunity.
  5. 5. The CoE was stimulating to all those that took The global crisis also brought about a continuing The CoE put the entrepreneurial spirit to work.part – 99.9% of all surveyed participants confirmed shift in the balance of economic activity away from It was a call to action to the community at large.that they would recommend the event to a friend. advanced economies and toward developing ones. We encourage others to do the same.Perhaps it was because it served as a reminder of the In short, entrepreneurship in our region has neverincredible energy within the region. We all felt the looked better. Thanks to the CoE, more people seem The next few pages tell the story of thispotential of the entrepreneurial spirit to improve our to have noticed. memorable gathering and the outcomes thatlives and economies. Entrepreneurs do not just want entrepreneurs proposed to get us started in theto strike it rich; they also want to play their part in Above all, the CoE represents the beginning of right direction.forging a new future for the region. something new. A first step of many in the right direction that launched an unprecedented wave of Arif NaqviThe CoE was also important because it signaled the optimism on the potential of entrepreneurship. Founder and Group CEO,possibility for a new direction for entrepreneurship Abraaj Capital Limitedin the region. We all wanted outcomes. This Report The key to a new direction lies in the hands of theoutlines the most significant ones: Wamda.com for entrepreneurs of MENASA and in our youth. Theyweb-based mentorship and community engagement, will be the dynamic drivers of economic growth andRiyada Enterprise Development (RED) for financial innovation that create employment and transforminvestment from the private sector and the MENASA societies. This requires tools, namely mentorship,Entrepreneurship Think Tank (METT) in search investment and a regional networking platform.of new opportunity, innovation and dialogue with By working together through Wamda.com, RED,governments. the METT and through all of our networks and communities our region can begin to tap thePerhaps the CoE was even more significant because immense skill and entrepreneurial talent that exists -of the global economic context in which it took place. talent that will benefit everyone in the years ahead.We are all operating in a time when ‘traditional’ nolonger works. There is new risk and there is new The globalization of entrepreneurship is raisingopportunity. Back in 1960 the composition of the the competitive stakes for everyone. In concert,Fortune 500 was so stable that it took 20 years for we can do more for this region than ever before.a third of the constituent companies to change. Now Entrepreneurship is a force for good that weit takes only 4. Ultimately this all boils down to new must collectively harness and spread across ouropportunities for entrepreneurs and investors. We economies.operate in new formats, new contents.
  6. 6. coe programme3 tracks for 3 outcomes
  7. 7. Pradeep Ramamurthy The spy from Reza Dera Hussein Fadi Ghandour Frederic Sicre Guy Ma Meesh F e r i m D j e agh Arif Talv H.E H. Kar E. khshani oz S Dr i cha m ad r H e Em i . Am y Feg ry noukia Arif u ll a Zahawy Sh M. Na a Sha in Sin Cairo An Suph ar Ton . Ib INSPIRE ei M rD ana boa ne ed To elli kh ra l Ma oun th Ah m B a sou Loh qvi abb li ala fi n Z. J Su hi m gh r Ah ete ass lt e l t So r rif a d u r n afe a ha P l Q Sa el an Dr b .T lb n A Y ar R b e r l e S h El Maysoun Odeh Gangat ay Ka an i ek am t a v e r a a i is Ra gh Raz Ro er Pe S ho n iK D e Aysh Moha me d m y t da a J Ka El af C Ste ve Shore Mo Pa ma Ima Eb ar u s a al ha Hud me l n r A Ram mm M B a l Mo ad l a o u iba sh i Fa Zia d A Wa a Ra Mon Mude ha Mafo oz Ha Har zaw rs i i Me rid jih mm Na j H tig ak ja CONNECT aK Sa bil ass an sha hda ed kh i aM no ly Ka org m M A ma Ta a Wol as El Ib min r D raz n me or d wi al Ge hd a ra l a S ud i Ka dl f el ik hi Al ha to m la in an St ll SE S la oui fa r Mustafa Abdel-Wadood e A s laf e Si Re Ma AN o mr ve K PA ui ma e tt Mo an Cr Sa Harr RK ha o mm S am v in ar Cal ad K is Abdul Mau Simm an h S a ed E t a n g Mo o vi Sh r a M o n s ta ida i Da le Mu rphy ha Fa Je h ari f B o r e Ah tm Ap h lah Sh Pan mm Oma ma Jul ane a nn d A a Gh te Fa ia P Nou a ad Sa f A p t a l-M al rr kaj afa ey t jai No Su K. r Lo l y Mo J ac k on-J on m or u qi Aln tawa ok M u sh i i la Ca us EMPOWER a hin b R -Zu in Pers es h ah Pau Abb st ta Ashr ekian dhi as ha f a Eli a a f Go Ali s l D ea n ri din Fa M. e H Obeid Ami e ye alla z H G h a a bi d M oh a m nA b Peyma Ed El h R avi n su Om n Parh Sawy r ar u n b am Al Bhu sari E l ssei e m A wadh Hans Din B a ni Chri sti i Sc hw R as aS ch ne Co d s ab hid h a i Al B e r i f A l i Ozgu n Noor A ftab all Jo ichi I t o Raji aa Pankaj Ja Hatt R ashid b in S h abi b in Fe da Sh ar Nasir Zubairi ah ie n Avi Bhoja ni Farhan Zaid iH. E. Sheikh Khaled Bin Zayed Al Nehayan Kamal Hassan Khal doon Taba za Gre gory K. Eri cks e n Amel Makkawi hi m Tarek Atou i Ta uf iq Ra k ba ri ric h ou t i Maliha Ta rd Rode kr Fadi Barg h Edwa a ili ukhas id B Wael Att Anas B Wal chley y a Fay yad an Azza z pee shi d d Dr . U s am l H as s S a rntha ebla wi Tom ib R hea d Jim Ho re kh d Qu a q l e s kka j i A l -S h a Foua ak S all Riyada Fahad nk nH Mo m A ta Sahe sa i i d umb la a s ad Pro an r Ferit Q a sim i Hus vi sb e li T ss i D a lSa r m Ha oop A l b Fa er i A i ubna Al Than enterprise ab e Ka k n hmy ha L Sh bd de B al ae y C a a n Kol r k i w i ud Shei bin tai nad uta rin y A Tony Bu ry Mohamed Al Neaimi oe ad H. E. a Ha if Al M meid c h nn ed sa ao eikh m tr development l Hu ur Ah An S Pe . Sh Na ta imi iga H. E ad ol n o Ahm deln ir zg -Fa Ia h Nic Na El Has i Ab dM m ij Kito Mi d e ed Ami m Jav dha na Steve l l Kh A y mm fa Tu dhe t rra o Al shim i ha su Al Khu M Ha jan Mo ou Fa urs Al Y id a Da ow sh ef H nc a eem rek arr le Am abu mr t Ra re ar zu i .R h Ta en G cHa ib Sa H.E ha u ab cho r h h M ab d S St ed ar ep ux St udit bi H dda i An WAMDA.com mm Om Eid il A id S ah J a al ir er ib H Sa an k at Kh es ish ng r h Kh Hab ss e n K ge r odi eD idis -Ki i a ra ha uk a a B lon a y ed r Had rt y ed . N Imr y S ou ee Derv Rao msa dr ih Mo ton DR Ab mm b d j i rist Mur hse d Mohamed Ahm ob ad ter nk n An Sh Ne il He ga ha d Al B ima K a lin r at Z ta T a im u rc r Ch Mo he i B Al ul dra de Ma Fat Ro ’d Se la a McC Ama Ma bh an n S Wa ani Bal ay Ta n a t So hm ma Oma Fa ten we er A aA ry Ah ean az er l a s b e lr O e me Cl Zu g s t ma Rab A lexa n Ker du S l ea bi ry Ab af d He l Ko lesh aze r i Ni y N Al f a Mu am en my A tiko Ved t w ou dan bou lon El h sh Mo ce a d h MENASA F. W lei nd B.R. d Al B rvice la Wal Fair awn e a S ed b y Sah i Lo Li w ab een Sha bib al ana i t Na gu Ca ss idy ahr Metwa is Entrepreneurship lly s o se La hha m n dgr en ue der ha wir A del A li Mohamed Parham Al Awadhi a Natt El T iza Shahida Siddiq li K ib Sa tt l in Chr isto phe r Schro e think tank Fa She dA Ian ee Mike Ossam T hom as L u Mu waf f a Br Ahmed Nev Ahm hm Ma
  8. 8. i nSP i r ePradeeP ramamurthy Fadi Ghandour the SPy From cairo reza derakhShanihuSSein zahawy Guy manoukian meeSha ShaFi ariF naqvi talvin SinGhSuPhala ariF lohar Feroz Sanaulla karim djerboa h.e. amr dabbaGh tonyFeGhali anne z. jaFery ahmed tolba dr. ibrahim babelli michael manSourahmad youniS h.e. Sheikh Sultan al qaSSemi Soraya Salti SheriF kameldr. tarek el Sadany rami khouri robert dunn Peter cleaveS raza jaFarali raGhda el ebraShi kamal mouzawak Pamela hartiGan mohammad hajhaSSan nabil tarazi Samar dudin amina Slaoui ibrahim Slaoui Sean Parkmatt harriS cal SimmonS maura moore ShariF banna jehane noujaim jackPerSekian aShraF Gori dean obeidallah mohamed el Sawy Peyman Parhamal awadhi chriStine codSi ali ozGun joichi ito raShid bin Shabib avibhojani h. e. Sheikh khaled bin zayed al nehayan GreGory k. erickSen FadibarGhouti wael attili dr. uSama Fayyad jim hornthal Fahad al-SharekhFerit Sahenk h. e. Sheikha lubna al qaSimi h. e. Sheikha hanadi al thaninaiF al mutawa ahmad humeid amid abdelnour khurram javed mirjulia Peyton -joneS Saad khan Peter heath iman bibarS FredericSicre h.e. reem al haShimy tarek dajani StePhen Garrow judithmchale khater abi habib habib haddad dr. naSSer Saidi imran khanbobby SaGer maher kaddoura Sobhi batterjee abdulrahman alzanki oSman Sultan rabea ataya mohammad al ballaa muStaFa SaniSener wa’d taweel linda rottenberG Fawaz zubi Sean cleary ahmedel alFi loay nazer nileSh ved Faizal kottikolon helmy abouleiShbrendan F. wallace mahmoud ali khaSawneh ian FairService waleedal banawi b.r.Shetty Sahab ahmed bin Shabib neveen el tahri mikecaSSidy naGuib SawiriS ahmed metwally oSSama natto muwaFFa lahhamthomaS lundGren Shahida Siddique chriStoPher Schroeder adel alimohamed Parham al awadhi PradeeP ramamurthy Fadi Ghandour theSPy From cairo reza derakhShani huSSein zahawy Guy manoukianmeeSha ShaFi ariF naqvi talvin SinGh SuPhala ariF lohar FerozSanaulla karim djerboa h.e. amr dabbaGh tony FeGhali anne z. jaFeryahmed tolba dr. ibrahim babelli michael manSour ahmad youniS h.e.Sheikh Sultan al qaSSemi Soraya Salti SheriF kamel dr. tarek elSadany rami khouri robert dunn Peter cleaveS raza jaFar ali raGhdael ebraShi kamal mouzawak Pamela hartiGan mohammad haj haSSannabil tarazi Samar dudin amina Slaoui ibrahim Slaoui Sean Parkmatt harriS cal SimmonS maura moore ShariF banna jehane noujaim
  9. 9. CELEBRATION OF ENTREPRENEURShIP 2010P EOP LE LE ADE R SH I P PA S S I ONWhy INspIre?“The region needs more entrepreneurs” was a sentence repeatedthroughout the CoE. It’s a fact that we recognized while planning theCoE. Recent studies on the region’s economic profile also support thestatement. According to the 2009 Global Entrepreneurship MonitorMiddle East and North Africa Report (GEM MENA) the rates ofinvolvement in entrepreneurial activity for the MENA countries are“generally lower than might be expected for countries at their level ofdevelopment”.If the region needs more entrepreneurs it will The overwhelming majority wanted to hear fromhave to foster a stronger entrepreneurial spirit. In fellow entrepreneurs as well as from successfulshort, it will have to inspire more people to become regional business leaders. The Inspire track becameentrepreneurs. But how does anyone foster the just that; on the one hand The Corner - inspiringentrepreneurial spirit? Where does their inspiration presentations by successful entrepreneurs andcome from? Who holds the mandate for improving experts, and on the other the Passion Corners - verythe entrepreneurial spirit? informal group discussions to share personal stories.The Inspire track of the CoE programme aimed to The result was unprecedented. The Inspire sessionsoffer private sector answers to those questions. To received the highest rating from the participants atfind the answers we first asked entrepreneurs about the CoE.the sources of inspiration they appreciate the most.
  10. 10. 1918 i nSP i r e V ALUES FA I LUR E OU TC OME : ME T T Rayan Sanabani (right), INJAZ student CEO from Yemen and Arif Naqvi (left), Founder and Group CEO, Abraaj Capital, UAE during the closing remarks at the CoE. In true entrepreneurial spirit, Rayan took the opportunity to deliver a funding pitch to invest in his student coffee company ´Mocca´. The audience rewarded him with a standing ovation.
  11. 11. CELEBRATION OF ENTREPRENEURShIP 2010P EOP LE LE ADE R SH I P PA S S I ON 200 FOREcAST Index of Total Population age 15–64 MENA 160 (100=year 2010) WORLD 120 100 EAST ASIA 80 40 0 1950 1960 1970 1980 1990 2000 2010F 2020F 2030F 2040F 2050F YEAR WORKFORCE GROWTh FORECAST Source: United Nations Population Division (2008), prepared by PricewaterhouseCoopers for the World Economic Forum.Who do you INspIre?According to the GEM MENA Report, most of the With millions of young people projected to enter The CoE was original in that it asked entrepreneursentrepreneurial activity in our region is generally the labour market over the coming years, SMEs from all walks of life including artists, scientists,in the hands of the 25-44 year-olds. These are the are a major reservoir for growth and employment. social entrepreneurs and CEOs to inspire each other.people driving the Small and Medium Enterprise Entrepreneurs are poised to become the essential Awareness of successful entrepreneurial ventures,(SME) industry and testing new ventures today. The force of employment and economic growth in especially by young people and by women positivelyyounger tranche – ‘the -25’ – are the entrepreneurs MENASA. Whatever can be done to increase the influences perceptions of entrepreneurship. Inof the future. Our region’s demographic profile is percentage of young people that want to start general, men are much more likely than womentruly unique in this respect: There are 720 million a business will create more opportunity for our to become entrepreneurs involved in early-stageof ‘-25’ in South Asia. In MENA, the ‘-25’ represent economies as a whole. In our minds, the more the entrepreneurial activity. According to the GEM60% of the population or 195 million people. A private sector can do to inspire young entrepreneurs MENA, an average of about 19% men are likelyrecent study by Silatech in Qatar reveals that at least today, the better for our region as a whole tomorrow. to start a business. The percentage for women15% of young Arabs plan to start their own business is only 9%. By offering a plaform to successfulin the next twelve months. That adds up to over 14 women entrepreneurs and to young role models,million new potential entrepreneurs in one year, in the CoE had a positive effect on a new communityMENA alone. that believes in the promotion and development of entrepreneurship in MENASA.
  12. 12. 2120 i nSP i r e V ALUES FA I LUR E OU TC OME : ME T T 100 90 80 70 60 50 cENTRAL & DEVELOPING IRAN ALGERIA EASTERN EUROPE ASIA UAE SAUDI ARABIA TUNISIA SYRIA MENA LATIN AMERIcA JORDAN MOROccO LEBANON WEST BANK/ GAZA YEMEN PERCENTAGE OF RESPONDENTS WhO BELIEvE ThAT STARTING A NEW BUSINESS IS A GOOD CAREER ChOICE IN ThEIR COUNTRY/REGION Source: Global Entrepreneurship Monitor 2009, prepared by PricewaterhouseCoopers for the World Economic Forum.Cultural perceptions on entrepreneurship have been The energy of emerging entrepreneurs in MENASA Looking ahead, one of the most significant outcomeschanging. The fear of failure is still a deterrent for is yet to be fully tapped. Abraaj Capital firmly from the CoE is the creation of the MENASAsome but entrepreneurship is increasingly perceived believes in the opportunity that SMEs represent in Entrepreneurship Think Tank (METT) managedas a desirable career choice, especially for young our region. We will contribute to raising awareness by the private sector. In a region where metrics andpeople. With very few exceptions, a large proportion on entrepreneurship in the region, to encourage thinking on entrepreneurship still lack, the METTof the population considers entrepreneurship a more people to become involved in the business fills an important gap by raising awareness on thegood career choice and perceives that successful creation process. It was encouraging to see that the powerful economic impact of entrepreneurshipentrepreneurs have high status and respect. inspiration delivered concrete outcomes: 86% of and by improving the environment in which participants at the CoE acknowledged that they had entrepreneurs start and grow their business.The Inspire track delivered several interesting achieved a tangible outcome.conclusions that we summarize in the following There is no better inspiration than the example of thepages. The first section looks at the importance entrepreneur sitting next to you. The following pagesof people and of teams. Several presentations are filled with the inspiration of entrepreneurs. Foraddressed leadership and passion as characteristics the full version of the Inspire session please log-on toof an entrepreneur. Speakers also focused on the Wamda.com.ethical values behind entrepreneurship. Perhapsmost importantly, the CoE acknowledged the fearof failure that prevents many from pursuing theirideas. Failure is part of the learning curve of anentrepreneur; it is not the end of the line.
  13. 13. CELEBRATION OF ENTREPRENEURShIP 2010P EOP LE LE ADE R SH I P PA S S I ON Arif Naqvi during the opening session of the coE