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Sentinel 1973 - On the Rise of Entrepreneurs in the Middle East

AUCKLAND, NEW ZEALAND / ACCESSWIRE / September 27, 2017 / The entrepreneurial success of tech companies In the Middle East has been at the center of global attention since the beginning of the year. In March 2017, the largest e-commerce platform in the Middle East, Souq.com, was announced to be acquired by Amazon for $600 million. A week after the announcement, over 2000 entrepreneurs had gathered to listen to the speech of Souq's CEO, on how he had built the e-commerce giant. At the start of 2017, Careem - the Middle Eastern equivalent of Uber - had been valued by venture capitalists at over $1 billion. Sentinel 1973, a renowned broker of CFDs, discusses the entrepreneurial tide of the Arab world, enabled by the rise of the middle class and local access to technology.

Despite the region's challenges - poverty, war, breakdown of political and economic institutions - the entrepreneurial spirit of young people is taking charge. In nearly every Middle Eastern country, over half of the population is under 30, and 2/3 of them are expected to own a smart device with easy access to the internet by the end of the year. Arab entrepreneurs are using Dubai as a strong channel of customer acquisition, while running internal business operations in their home countries and utilizing their local market knowledge to grow. A prime example of this business strategy is Jamalon, the largest online bookstore in the Middle East. The company keeps its backend activities in Amman, taking advantage of local talent and lower wages, while maintaining its headquarters in Dubai. "The combination of a strong hub in Dubai and operations on the ground in each country is powerful and gives us a significant advantage. There is nothing like Dubai in the Middle East-nothing really like it anywhere." Says Ala' Alsallal, CEO of Jamalon.

As noted by Sentinel 1973, the UAE government is vigorously supporting the entrepreneurial rise by embracing technology and making encouraging changes to legal policies. By 2020, all government documentation is planned to be digitalized via computer technology that will automate transactions and enhance security. According to Magnitt's report - a leading platform that connects entrepreneurs and investors - 42% of all MENA (Middle East and North Africa) startups are based in Dubai and over $1 billion is projected to be raised in venture capital in 2018. Access to technology has also sprung a strong wave of entrepreneurial activities among Arabic women. Over 25% of the region's startups are founded and led by females, as reported by the Economist. "A relatively new field in the region, technology has no legacy of being male dominated, and it embraces a culture of freedom where everything is viewed as possible, including breaking gender barriers, which makes it compelling to women." Says Hala Fadel, cofounder of Leap Ventures, a venture capital company in Beirut.

Based in Auckland, New Zealand, Sentinel 1973 is a leading broker market of CFDs on stocks, indexes, currencies and commodities. The company specializes in the trading of financial products in Over the Counter (OTC) and organized stock markets, and offers customers advanced technological platforms to maintain and maximize their investments. With 10 available platforms and over 200 financial instruments, the firm serves clients in more than 180 countries throughout Europe, Africa, Latin America, Middle East and Asia.

Sentinel 1973 - World Leading Trading Broker Chosen by Customers: http://sentinel1973news.com
Sentinel 1973 - Offers Technological Advantages for Successful Investment: https://finance.yahoo.com/news/sentinel-1973-offers-technological-advantages-013600092.html
Sentinel 1973 - Explains the Recent Rise in the Euro: https://finance.yahoo.com/news/sentinel-1973-explains-recent-rise-013500315.html

Contact Information:

Sentinel1973News.com
contact@sentinel1973news.com
http://sentinel1973news.com

SOURCE: Sentinel 1973

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