This initiative is illustrated through the incubation of Palestinian start-ups carried out by Maqdessis, who exhibit their innovations during the 3rd edition of the “Expand north Star” Forum in Dubai, organized as part of GITEX Global 2024.
thus, the Bayt Mal Al-Quds Acharif Agency ensured the development of a stand at the “Expand North Star” Forum, dedicated to five start-ups launched by young Palestinians, as part of the digital strategy 2024-2027 of the Agency, which includes an incubator for Palestinian youth projects in the fields of innovation and creativity (BMAQ Innovation Hub).
The Agency presented on Tuesday, to partners and sponsors, the broad outlines of its digital strategy under the theme “Digital development in the service of economic and social development in Al Quds”, in the presence of the Minister of Digital Transition and of Administrative Reform, Ghita Mezzour, and an audience of actors in the digital sector.
These Palestinian startups constitute the second promotion of companies sponsored by the Bayt Mal Al-Quds Acharif Agency through the “BMAQ Innovation Hub”, which includes five young entrepreneurs from the city of Al Quds who came to present the ideas of their projects relating to an automatic competitive intelligence tool in E-commerce, an innovative platform for credits using artificial intelligence, a platform for optimizing transport services using innovative systems, a medical device aimed at improving security and the effectiveness of thoracotomy, in addition to a networking and connection project between traders and suppliers.
In a statement to MAP, the young maqdessi zohdi Bali, founder and executive director of the start-up “Act plus”, expressed his gratitude for this High Royal Solicititude, through the Bayt Mal Quds Acharif Agency, noting that this support, the first of its kind in the technological field, constitutes a glimmer of hope for Al Quds companies which lack funding and presence in international events.
in a similar statement, Abdel Karim Nassereddine, founder of the start-up “Healers” specializing in medical devices, affirmed that the support of the Bayt Mal Al Quds Acharif Agency offers opportunities for Palestinian youth, particularly the Maqdessis , to realize their projects.
For his part, Daoud darwish, founder of the “MetaGear” platform, indicated that the Agency makes it possible to open up to the Gulf market and establish relationships with partners and clients in the field of digital technology. “, expressing his gratitude to His Majesty King Mohammed VI, President of the Al Quds Committee, for this generous support, which aims to “support our start-ups and enable them to expand and access international markets , including the market African”.
Following a meeting with these young Palestinian entrepreneurs, ms. Mezzour declared to MAP that the ministry is committed, in accordance with the High Royal Instructions, to supporting and accompanying the efforts of the Bayt Mal Al Quds Agency in the training of young maqdessis, by providing them with an incubator allowing them to participate in relevant international meetings around technology, such as GITEX Global and “Expand North Star”.
“BMAQ Innovation Hub” provides beneficiaries, selected according to specific criteria established by a special committee composed of experts and institutional representatives, with an intense incubation program which includes 190 hours of interactive courses, spread over five months, on the entrepreneurial support and optimization of project promotion mechanisms, with the opportunity to access financing and investment markets, through their participation in international exhibitions.
The first class of Palestinian start-ups, sponsored by the Bayt Mal Al Quds Acharif Agency, successfully participated last July at GITEX Africa in Marrakech.
Expand North Star in Dubai, which continues until October 16, is an opportunity for more than 1,800 start-ups from 100 countries to present their products in the field of digital technologies to entrepreneurs, investors and financing institutions in order to explore opportunities in this area and help build the future of the digital economy.
What are the main challenges faced by Palestinian start-ups in securing funding?
Interview: Advancing Innovation Amidst Challenges – A Conversation with Dr. Rania Al-Quds, Expert in Palestinian Start-ups
Time.news Editor (TNE): Welcome, Dr. al-Quds! Thank you for joining us today to discuss the exciting developments at the “Expand North Star” Forum in Dubai. It’s clear that Palestinian start-ups are gaining momentum. Can you share what makes this initiative so meaningful for young innovators in Palestine?
Dr. Rania Al-quds (RAQ): Thank you for having me! The importance of this initiative lies in its ability to empower young Palestinians who possess immense talent and entrepreneurial spirit despite the challenges they face. Presenting at a global platform like the “Expand North star” Forum allows these start-ups to gain visibility, connect with potential investors, and showcase their innovations to a wider audience.
TNE: Absolutely. It seems like the bayt Mal Al-Quds Acharif Agency is playing a crucial role in this development.Can you elaborate on their contributions and the significance of their digital strategy for the years 2024-2027?
RAQ: Yes, the Bayt Mal Al-Quds Acharif Agency has taken commendable steps by establishing a stand dedicated to these start-ups at the forum. Their digital strategy focuses on not just immediate support but on sustainable growth through initiatives like the BMAQ Innovation Hub. this incubator will provide essential resources, mentorship, and training to young entrepreneurs, directly aligning their efforts with the broader goals of digital transformation in the region.
TNE: The BMAQ Innovation Hub sounds like a fantastic resource. How might such incubators impact the start-up ecosystem in Palestine and contribute to the region’s economy?
RAQ: Incubators like BMAQ Innovation Hub are critical as they offer structured support to young entrepreneurs. They create an habitat conducive to innovation, helping these start-ups refine their ideas and business models.This, in turn, can lead to the creation of jobs, the stimulation of local economies, and an overall uplift in the entrepreneurial landscape of Palestine. Moreover, it fosters a culture of innovation that can inspire future generations.
TNE: Given the ongoing challenges in the region, what kind of innovations are we seeing from these palestinian start-ups, and how can they carve a niche in the global market?
RAQ: The innovations coming out of these start-ups are diverse and impressive. We’re seeing advancements in tech, sustainable agriculture, and social enterprises aimed at addressing local challenges. By focusing on unique solutions that cater to both local and global needs, these start-ups can differentiate themselves.Leveraging digital platforms and marketing effectively can further enhance their presence in the international market.
TNE: That’s inspiring! As we look to the future, what are some key challenges that these start-ups might face, and how can they overcome them?
RAQ: One of the main challenges is access to funding—many of these entrepreneurs struggle to secure investment due to the region’s political and economic circumstances. Though, by building networks, participating in global forums, and showcasing their potential, they can attract interest from international investors.Furthermore, collaborations with established companies and participation in international projects can provide essential resources and exposure.
TNE: It sounds like a vibrant ecosystem is beginning to form,and it’s deeply encouraging.In your opinion, what role can the international community play to support Palestinian start-ups and ensure their success?
RAQ: The international community can play a pivotal role by investing in Palestinian innovations, providing mentorship, and creating bridges for collaboration.Programs that facilitate knowledge transfer, investment, and partnerships can substantially bolster the capabilities of these young entrepreneurs. It’s essential to recognize and support the potential for innovation that exists in Palestine.
TNE: Thank you, Dr. Al-quds, for your insights and for shedding light on these inspiring developments. We look forward to seeing how these Palestinian start-ups continue to evolve and contribute to the global innovation landscape.
RAQ: Thank you for having me—it’s been a pleasure discussing these vital topics! I’m excited about the future of Palestinian entrepreneurship and the possibilities that lie ahead.