A POSITIVE SIGN
TBY talks to Jake Zeller, Partner of AngelList, on Finance sector.
BIOGRAPHY
Jake Zeller is a Partner at AngelList, the world’s largest marketplace for start-up investing. Additionally, he is a Partner at Spearhead, a program that funds and mentors new angel investors. Zeller is a board member of Opencare and an advisory board member of AIM Startup, an initiative of the UAE Ministry of Economy. He studied physics at Stanford and graduated with distinction.AngelList is considered the backbone of the Silicon Valley. What needs to be done for the company to increase its participation in the Kuwaiti and MENA market?
It is a matter of time. We have only achieved a fraction of what we are capable of in the US and have also launched in India and Canada. We are focused on growing our existing markets. Kuwait and MENA are certainly of interest, although the region is a number of years behind the US and India in terms of start-up activity.
How can AngelList leverage its expertise to help Kuwaiti start-ups dominate the local market and eventually expand regionally?
AngelList facilitates investments into over 1,000 start-ups each year, so we have strong visibility into the different business models that are working around the world. We can use this knowledge to help Kuwaiti start-ups get a head start on others in the market. We can also connect them with world-class operators in the US to help them out-execute the competition.
What specific factors make Kuwait and the MENA region attractive destinations for US tech investors?
Kuwait is especially attractive because of the depth of well-educated, local talent and its sterling international reputation. Initiatives like the Kuwait Direct Investment Promotion Authority (KDIPA) also make it an attractive place to do business.
What are your expectations regarding the evolution and growth of the tech market in Kuwait and the MENA region in 2019?
I expect steady growth in new start-up activity. I predict that large exits—if any—will be the result of M&A from foreign technology companies. Furthermore, it is a positive sign that growth funds like General Atlantic are investing in the region. I expect to see that happen more often, though only after the companies have achieved significant scale.
A POSITIVE SIGN
TABLE OF CONTENTS
Interview
Adel Abdul Wahab Al-Majed , Chairman, Kuwait Banking Association (KBA)
Through a broad array of information, specialized committees, staff expertise, and other resources, KBA supports Kuwait's banks as they perform their critical role in energizing the economy and helping communities thrive.
read articleInterview
Sheikh Dr. Meshaal Jaber Al-Ahmed Al-Sabah, Director General, Kuwait Direct Investment Promotion Authority (KDIPA)
KDIPA adopts a proactive approach to attract value-added direct investments supported by an integrated promotional strategy serving Kuwait's developmental goals in line with its National Vision 2035.
read articleCommuniqué
Legal Reform and Infrastructure Projects Spell Opportunity for Foreign Investors
Along with the introduction and modernization of new laws and regulations, the vision of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to transform Kuwait into an international center for commerce and industry by 2035 is already being implemented through Kuwait's National Development Plan. Coupled with the promulgation of progressive FDI regulations, these new opportunities spell positive news for foreign companies looking to conduct business in Kuwait.
read articleFocus: Developing connectivity
Connecting the Dots
Today, connectivity is hardly indispensible for individuals and the companies where they work. Kuwait's smart cities, considered elsewhere in the book, will thrive on it, and meanwhile the nation continues to register notable business deals from the informatics sector.
read articleInterview
Khalid Abbas , Country Manager-Kuwait, Unilever
Contributing to the improved health and wellbeing of communities and reducing environmental footprint are key priorities for Unilever, which is committed to improving the health and wellbeing of up to 1 billion people globally by 2020.
read articleInterview
Mohammed Yousif Soud Al-Sabah , Board Chairman & Director, Public Authority of Agriculture Affairs and Fish Resources (PAAAFR)
PAAAFR has adapted a package of policies to face challenges inherent to deserts, hot climate, and water scarcity, bringing Kuwait closer to achieving national food security, one step at a time.
read articleInterview
Yang Chunsen, Vice President/ Chief Representative, China State Construction Engineering Corporation Middle East (CSCME) Kuwait
CSCME is a technology-driven company that leverages its R&D and long-standing partnership with the government to increase its participation in the future development of Kuwait.
read article