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How strong is the startup ecosystem in the UAE, what is the growth potential for new startups, and what are the key factors behind it?
The UAE is a booming entrepreneurial hub, with both Dubai and Abu Dhabi offering huge potential for new startups to grow. The government’s initiatives to attract entrepreneurs and professionals from across the globe have enhanced its appeal as a prime destination for start-ups looking to scale and expand their businesses.
Access to capital, including support from venture capital and angel investors, has accelerated the growth of many innovative businesses.
At the same time, the UAE promotes innovation through infrastructure including co-working spaces, accelerators and research centers, all of which are critical for the development of new startups. A diverse talent pool of skilled professionals from a variety of industries solidifies its position as an ideal business destination.
Like Abu Dhabi, business-friendly regulations also create an environment for startup success in Dubai, making it a logical choice for ambitious new startups who are committed to thriving and succeeding in the business world. .
What were the key factors that convinced you to bring Scalo Technologies to Dubai?
First of all, the business environment here is very good. The government has established a very relaxed regulatory framework that allows us to conduct business with confidence.
Dubai is located at the heart of the Middle East and North Africa region, which is growing rapidly and offers tremendous investment opportunities. The overall booming economy in the UAE, as well as the government’s initiatives to attract entrepreneurs and professionals to Dubai and Abu Dhabi, are huge attractions for us.
As a technology group focused on the fast-growing digital economy, we see huge potential in connecting with startups around the world and meeting founders in Dubai and Abu Dhabi.
Logistically, the presence of Emirates allows us to easily reach anywhere in the world, making international business very convenient.
Like Abu Dhabi, Dubai offers excellent social and lifestyle benefits, including a variety of schools, restaurants and sports clubs, making it an ideal place to live and work.
There is also a deep respect for successful people here, which creates a welcoming environment for entrepreneurs. Where else can you safely park your car overnight, even if the keys are still inside?
With so many tech startups emerging in the region, what are your main criteria for deciding which startups to invest in?
Scalo Technologies’ investment decisions prioritize new startups that solve real-world problems, have immediate scalability potential, continued innovation, and strong profile management and privacy measures.
A robust business model with a clear path to profitability is critical. We also value startups that stand out from their competitors through unique value propositions in a highly competitive market. In artificial intelligence (AI) companies, maintaining trust and adhering to ethical practices are critical to achieving long-term sustainability and building strong relationships with stakeholders.
Cutting-edge technology and intellectual property rights are of course crucial, but so is the strength of the founding team. Engaged founders and skilled teams are more likely to overcome challenges and lead their companies to success.
What areas are you mainly interested in? What products is Scalo currently developing?
Our main focus is artificial intelligence, SaaS, HPC, B2B services, gaming and other frontiers of the digital economy. Scalo’s mission is to accelerate the growth of new startups and enable them to enter the most rapidly expanding markets.
We recently led a multi-million dollar investment in Hexacore, a publisher of web3 mobile games, and have many other very interesting projects in the pipeline. We are currently setting up a gaming company in the UAE and plan to launch multiple games by the end of this year.
Scalo also invests in artificial intelligence and high-performance computing, and we will soon announce an investment in a California-based startup.
We are particularly interested in cloud-based AI products and gaming companies, and actively seek out breakthrough ideas with global growth potential.
We are also open to exploring opportunities in other areas of rapid expansion, particularly in markets that demonstrate significant growth potential over the next five to ten years.
The industry is witnessing huge advances in the application of generative artificial intelligence. How do you think this trend will impact employment?
As with all major technological advances, employment will be affected. But artificial intelligence will also create new job opportunities and help many people build careers they could not have imagined before its advent. I have a clear vision of how artificial intelligence and overall technology can shape the future for tomorrow’s entrepreneurs and business leaders.
With this in mind, I hope to work with schools and universities in Abu Dhabi, Dubai and other emirates to help young people identify and pursue career paths that are in line with where the world is headed.
As an investor in Web3 games, how much potential do you think it has?
Scalo Technologies is deeply interested in gaming as its popularity continues to soar. The continuous expansion of virtual reality, augmented reality and cloud gaming platforms has opened up new horizons for game enthusiasts around the world.
Industry forecasts suggest gaming will reach $187 billion this year and $212.4 billion by 2027. The future of gaming lies in Web3, offering huge potential for exponential growth over the next three to five years.
Web3 functionality enables players to own in-game assets and actively participate in the game’s advanced economy. This ownership gives players decision-making power, leading to increased engagement and more in-game transactions.
Our interest in gaming is fueled by the evolving nature of the industry, particularly with the rise of Web3 and NFTs, which prompted our investment in Hexacore. There are an estimated 2.2 billion mobile gamers worldwide, and soon everyone with a smartphone will have a crypto wallet installed.
This is a huge opportunity and we see unlimited potential for innovation and growth that will reshape the gaming experience for players and creators alike.
What are the key areas where entrepreneurs and new startups need the most help?
Unlike traditional venture capital funds, we prioritize quality over quantity, selecting fewer deals and larger investments. By doing so, we proactively provide founders with the support they need most, beyond financial support, to grow their companies.
We provide comprehensive assistance to our portfolio companies. From helping make important recruiting decisions to providing guidance on marketing, financial planning and legal matters, our support is diverse. Drawing on our extensive experience, we provide universal insights to help founders scale their companies effectively.
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