The UAE has also set up Al Etihad Credit Bureau, which will help banks to gather data about the creditworthiness of borrowers.
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Juan Jose De La Torre, VP of digital at Intigral, says: “MENA’s digital startup sector is in a growth phase, and receiving over 150 quality applicants for Afkar.me’s second intake is testament to that. We truly believe that this region has the ability to produce digital products that will not only take off in the region, but gain global recognition. Afkar.me is one step on the journey for entrepreneurs, providing everything they need to turn their ideas into a viable product or business, including access to market.
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Afkar.me, the region’s only full-spectrum digital incubator and accelerator, has received over 150 applications for its second round intake in Dubai.
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“Because there aren’t as many venture capitalists in the Middle East, there’s a low level of competition. Their terms are not as good, because they know they’re the only ones around.”
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In addition to the seed funding, winning entrepreneurs and start-ups will receive mentorship from MENA’s leading experts, office space at Intigral’s Dubai and Riyadh offices, hands-on training and support, exchange programmes with leading international incubators, and access to MENA markets, with a focus on Saudi Arabia.
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Juan Jose de la Torre, also known as J.J., is a 15-year telecom and media veteran who has worked for companies such as Orange, TeliaSonera, Etisalat, and Booz. He is also a seasoned entrepreneur who has successfully founded 3 start-ups. In the past two years, he has been working at Intigral, where he helped found Afkar, a fully-fledged product incubator for the MENA region.
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INSEAD MBA, Master in Project Management from La Salle and Industrial Civil Engineer from Adolfo Ibanez, Juan Jose has developed his entire career in Telecom, Media and Internet international businesses; focused on Innovation, Ventures, International and Market Facing Strategies, M&A, and Digital Ecosystems.
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J.J. has more than 15 years of experience in Management Consulting, Telecom Operators, Ventures and Start-ups, with senior positions held at TeliaSonera, Booz&Company, Orange Group and Etisalat Group.
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Moreover, J.J. is an INSEAD MBA, Masters in Project Management from La Salle and Industrial Civil Engineer from Adolfo Ibanez. He has been an advisor for the United Nations and the Organisation for Economic Co-operation and Development, on Mobile Telecom Ecosystem and Digital Enablers.
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Ben Kinealy, Intigral CEO commented: “At Intigral we are dedicated to providing best products and services to our customers and partners, and digital sits at the core of this promise. JJ has been instrumental in the development of market led innovative products and services for Intigral, and this appointment is testament to the faith that both the board and I have in him to continue driving sustained growth for Intigral.”
Ben Kinealy, Intigral CEO commented: “At Intigral we are dedicated to providing best products and services to our customers and partners, and digital sits at the core of this promise. JJ has been instrumental in the development of market led innovative products and services for Intigral, and this appointment is testament to the faith that both the board and I have in him to continue driving sustained growth for Intigral.”
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Expansion has always been in the plan, but we are really focusing on Saudi Arabia because of the reach that we have there and the size of the market. As we move forwards, we are selectively expanding into other markets where it might have a positive effect on our financials and aligned with our ambitions. Most of the content we have we have the rights for the Middle East but it is sometimes not economically feasible to deploy in some countries that are too small. We are working hard to find the right business models to work in those countries.
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Going forward, the ability to understand the psychographic, geographic, and the demographics of consumers while also improve quality of service, increase customer satisfaction, and effectively communicating with customers anytime, anywhere will be key element to promoting the adoption of mobile content services over the next couple of years.
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The applications for start-up ideas are open until the first week of November, when 10 ideas are to be selected and go through a weekend-long training process.
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The program will be an annual initiative with four applications a year, targeting two intakes each from UAE and KSA respectively. Importantly, if a project does not get selected they can develop on the feedback given during the boot camp weekend and re-apply to the next intake. Applications are now open until the 10th of November 2013.
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