Intel – StartUpArabia

UAE Based NeuString Receives Investment From Intel Capital

November 18, 2009November 18, 2009 MMM 2 Comments

Intel Capital, Intel Corporation’s global investment arm, earlier announced an investment in NeuString, a leading UAE-based telecommunications analyst software company, further reaffirming Intel Capital’s commitment to investing in the region.

The funding from Intel Capital is to assist NeuString in pursuing regional growth and development plans in addition to extending the company’s product offerings.

NeuString is a billing software company dedicated to delivering predictive analytics solutions and consulting services to mobile network operators to help them achieve greater financial performance.

NeuString currently has offices in the United Arab Emirates, Denmark, Russia, and Ukraine.

The investment in NeuString follows five previous Intel Capital investments in the Middle East this year: two Jordan-based digital content companies − Jeeran and ShooFeeTV; and three UAE-based technology companies – Conservus International FZ-LLC, Pulse Technologies FZ-LLC, and Vertex Animation Studio FZ-LLC.

As has become customary in this part of the world, for some unclear reason, the amount of this investment was yet again not disclosed.

Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies. The purpose being to help promote technology skills, knowledge transfer and job creation in the region.

Arab Technology Business Plan Competition 2009 Semi-Finalists

October 8, 2009October 8, 2009 MMM 1 Comment

The Arab Technology Business Plan Competition, which is a regional Technology investment competition organized by Arab Science and Technology Foundation (ASTF) in cooperation with Intel Corporation, has just announced the list of semi-finalists for this year’s edition of the competition.

The list of 12 semi-finalists includes, in no particular order:

AqarMap (Yemen): An online real estate marketplace.
Telephone line powered lamp (Palestine): A solution to the frequent power outages in Gaza.
EDOM (Jordan): A system to produce green energy.
m-CASH (Palestine): A mobile payments solution.
Human Heater (Jordan): A new innovative heating product.
Therapeutic Vaccines (UAE): Vaccines to help treat chronic inflammation and cancer.
NovelMed (Egypt): New medical device.
Eye Controlled Typing (Palestine): Technology to help people with physical disabilities use computers.
Collapse Analysis (Egypt): Software applications to analyse building structures.
Wiphone (Egypt): Technology to convert earth frequency into wifi frequency and vice versa.
Blue Soft/Blue Phone (Egypt): Solution to minimize train accidents.
HFF (Egypt): Technology to extract hydrogen from water and use it to generate green energy.

The competition provides the Arab entrepreneurs with a number of needed tools and skills through training and mentoring, in order to turn their Technological innovation into business opportunities.

The top 3 winners will get cash prizes of $10k, $6k and $4k respectively; and will have the opportunity to show their business plans in front of venture capitals, angel fund and investors in the ASTF Investment in Technology Forum.

The top 2 winners will also get to represent the Arab World in the world wide finals of the Intel + UC Berkeley Technology Entrepreneurship Challenge (USA).

Intel To Invest In Three UAE Based Technology Companies

February 19, 2009February 19, 2009 MMM 2 Comments

Intel, the world’s largest maker of computer chips, announced it will be investing in three UAE-based technology companies.

The funding will come from the $50 million Intel Capital Middle East and Turkey Fund, and is aimed to assist the companies in pursuing regional growth and development plans in addition to extending their product offerings.

The three companies that will be benefiting from Intel Capital’s investment are as follows:

Conservus International FZ-LLC: An IT/Media marketing company that is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as MyConservus Portal. (Conservus is also an IV Holdings portfolio company)
Pulse Technologies FZ-LLC: A leading manufacturer of building automation systems, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
Vertex Animation Studio FZ-LLC: A cutting edge technology firm focused on providing world-class services in the field of animation, virtual reality applications and 3D multiplatform games via a multitude of technological platforms.

The size of the investments was not disclosed.

“We have a strong pipeline for future investments in the region,” Feroz Sanaulla, director of Intel Capital’s Middle East, Turkey and Africa division, said during a press conference. “Several hundred million dollars have been deployed in the region, and you will see more in the next few months.”

Intel Capital Invests In Dubai-Based Startup Sphere Networks

October 29, 2008October 29, 2008 MMM 13 Comments

Intel Capital, Intel’s investment arm, joined Dubai Silicon Oasis (DSO) by announcing its investment in Sphere Networks, an emerging Dubai-based startup specialising in next generation network management software. This move marks Intel’s first investment in a company based in the Gulf region.

The investment should help Sphere to expand both its technology base, get access to Intel technologies and develop sales and marketing to deliver its products to market. The amount of the investment was not disclosed.

The startup employs a team of 26 people, from different backgrounds, in Dubai; developing enterprise level network management solutions, which are already in use with a number of government customers in the region.

The investment, announced today by Christian Morales, Intel VP Sales & Marketing and General Manager, Europe Middle East and Africa, is part of Intel’s drive to expand its economic, educational and technology-related support across the UAE.

Under this program, Intel continues to increase its investment in four key areas: local entrepreneurship, education, digital accessibility and specialized technical competencies, to help promote technology skills, knowledge transfer and jobs creation in the UAE.

Commenting on the announcement, Morales underlined the importance of fostering innovative, home-grown ideas and noted that today’s news illustrates Intel’s ongoing commitment to collaborate with local players that share the vision of taking entrepreneurial projects to the next level of global competitiveness.

ASTF And Intel Launch 4th Arab Technology Business Plan Competition

September 17, 2008September 17, 2008 MMM

The Arab Science and Technology Foundation (ASTF), a regional and international non-profit NGO, in collaboration with Intel announced the launch of the 4th Arab Technology Business Plan Competition, and the start of the 2nd Made in the Arab World Competition, across more than ten Arab countries including the UAE, KSA, Jordan and Egypt.

ASTF was established in 2000 by Arab scientists and researchers in order to identify and support outstanding scientific achievement within the region. The Foundation also seeks to promote the advancement Arab entrepreneurship by acting as a mediator between up and coming companies and investors.

Commenting on the announcement, Ferruh Gurtas, Corporate Affairs Group Director, Intel Middle East, Turkey and Africa said: ‘The Middle East is an exciting and dynamic region with a growing number of entrepreneurs – many of whom require initial funding to launch their projects. The 4th Arab Technology Business Plan Competition does just that. It is an opportunity for young, Arab entrepreneurs to map out and transform their ideas from a concept to a tangible working company. At Intel we believe entrepreneurship is a key driver for emerging Middle East economies. As the region begins to compete on an increasingly global scale, these skills, coupled with technological expertise will help local businesses to excel in an international marketplace.’

The Arab Technology Business Plan Competition strives to support and assist Arab entrepreneurs to transform their ideas into successful ventures by providing them with access to potential investors and venture capitalist that are willing to finance promising technology start-ups through the Arab Investment Forum, which is held annually in one of the participating Arab nations.