052: THE MIDDLE EAST STARTUP ECOSYSTEM: The money is there, now what?

If you keep up to date with the latest technology news, you know that the momentum and investment has shifted from Asia to the Middle East. But gone are the days where countries like Saudi Arabia and the UAE just import technology and talent - the new trend across the Middle East is how to create a home-grown technology startup ecosystem - and this is what we are going to cover in today's podcast.  Let's face it - money is not going to be an issue - but as we have seen from other countries, just throwing money at the startup ecosystem is no guarantee that it will be successful.  To help us go through this topic, we are joined by the Partner & Co-Founder of SparkLabs Group, Bernard Moon. SparkLabs has made a name for itself by launching accelerators and VC funds in Asia, Australia and the US, but now they are entering the Middle East market, so let's see what has drawn SparkLabs to that region - and what Bernard thinks will be the critical success factors to making sure they get a return on their investments.  Show Notes: 00:00 Intro to Bernard Moon and SparkLabs Group 02:30 SparkLabs new accelerator programs in Saudi Arabia and Abu Dhabi 06:00 How does SparkLabs plan to find the "best of the best" startups in the Middle East 08:45 Do you see any similarities between the Middle East markets and other countries where you have had success with your accelerators (e.g. Korea, Taiwan)? And are there any specific opportunities and / or risks compared to the other markets you operate in?  14:30 What are the critical success factors for the Middle East markets to develop a home grown startup ecosystem? And what is the role of academia in creating this? 20:30 What does SparkLabs look for in startups that they want to invest in? And are there any red flags that you watch out for? 24:00 What will it take for SparkLabs to view their entry into the Middle East accelerator market a success? 26:00 What can countries like Saudi Arabia and the UAE learn from other markets, like Singapore, that haven't made the most of their investment / funding of their local startup ecosystem? 30:00 Why are startups keen to be involved with SparkLabs versus the many other accelerator programs in the market? 33:00 Last week, SparkLabs listed it's USD 100m SPAC (Special Purpose Acquisition Company) on Nasdaq. Can you give us an overview of how this came about and what your strategy for the SPAC is? More information on SparkLabs can be found here: Contact Bernard directly: [email protected]  SparkLabs Saudi Arabia SparkLabs Korea SparkLabs Taiwan SparkLabs Cultiv8 SparkLabs Group