MENA technology initiatives could pay professionals more than double the current average salary

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The technology innovation ecosystem is experiencing a sustained transition to ESG investments globally

United Arab Emirates: Cultivating a technology start-up culture is key to driving economic, environmental, social and governance (ESG) progress across the Middle East and North Africa (MENA) region, Tushar, deputy chief executive of Crescent Enterprises and investment manager Singhvi said.

According to the public policy think tank Information Technology and Innovation Foundation, technology initiatives in the United States present more compelling opportunities for professionals, paying an average of $ 102,000, more than double the current U.S. average of $ 48,000. “With an ecosystem of mature tech start-ups, these opportunities could become a reality at MENA as well, and as a result we could see regional tech initiatives paying professionals more than double the current average salary,” Singhvi commented.

Globally, the technological innovation ecosystem is increasingly geared towards ESG investments. More and more investors, while making profits, consciously and conscientiously seek a positive impact on society and the planet. According to a survey by insurance and pension provider Aviva, 55% of investors said ESG factors have become a more important aspect of their investment decisions in the wake of COVID-19.

By accelerating digitalization, COVID-19 has created an opportunity to rethink the decision-making process related to technological applications for the betterment of society and the planet. Businesses, large or small, can benefit from the value of technology to contribute to a more prosperous and greener future for the region.

A forecast from the World Economic Forum (WEF) states that 60% of global GDP will be generated by digital businesses by 2022. “Harnessing the dynamism of technology start-up culture would allow MENA countries to achieve ambitious social and environmental sustainability goals . The region’s ability to cultivate local entrepreneurs and import global technology start-ups will define our success in the fourth industrial revolution in key sectors of the regional economy over the next five years, ”Singhvi added.

“Post-COVID-19, it is more crucial than ever that MENA economies represent places where start-ups can succeed and, in so doing, help find innovative and inclusive ways to overcome societal challenges in order to improve quality. of life for everyone. “

Manju George, Head of Strategy, Platform on Digital Economy, World Economic Forum, commented: “As more companies accelerate the realization of their ESG goals, digital technologies and new business models will be key drivers of success. Tech start-ups, such as those enabled by Crescent Enterprises, can bring innovative and disruptive solutions for companies and countries to adopt and scale. The Forum’s Digital Transformation community supports companies in delivering long-term business growth and net positive impacts for people and the planet, including by building stronger connections with technology innovation ecosystems. ”

Crescent Enterprises is a partner of the WEF and a member of several WEF platforms, including “Shaping the Future of Digital Economy and New Value Creation” and “Shaping the Future of Mobility”. The company is also active on the WEF’s COVID action platform, joining forces with other stakeholders, including public sector institutions and global businesses, to help limit further hardships to lives and economies around the world. Singhvi is a member of several senior working groups engaged in projects related to digital transformation and digital inclusion and has represented Crescent Enterprises in the “Global Future Council on Digital Economy and New Value Creation”.

Singhvi, who made his remarks during an Endeavor UAE webinar for entrepreneurs and founders, added, “MENA countries offer excellent opportunities for ambitious tech-enabled start-ups, but nurturing or attracting and supporting them to thrive is not just the responsibility of the Due to the sheer size and potential of the region’s rapidly emerging economies, I believe MENA could become one of the most attractive regions for expanding or launching digital business. “

Endeavor UAE CEO Noor Shawwa said, “As the world’s leading community of high-impact entrepreneurs, Endeavor’s mission is to help entrepreneurs expand their businesses. One of the main areas of support is the fundraising process where we connect entrepreneurs with key investors and partners such as CE-Ventures. We are pleased to continue to facilitate discussions by allowing our network of founders to access investor capital and expertise. “

CE-Ventures targets start-ups offering synergies with Crescent Enterprises operations through Supply Chain Tech, MedTech, Enterprise Software as a Service (SaaS). The corporate venture capital platform focuses on wide-ranging emerging technologies, including artificial intelligence (AI), the Internet of Things (IoT) and blockchain.

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About Crescent Enterprises

Crescent Enterprises is a multinational company based in the United Arab Emirates. It operates on four platforms: CE-Operates, CE-Invests, CE-Ventures and CE-Creates, which span different sectors including ports and logistics, energy and engineering, food and beverages, business aviation and in vertical sectors such as private equity, venture capital and business incubation.

www.crescententerreste

Information on CE-Ventures

CE-Ventures is Crescent Enterprises’ corporate venture capital platform, which focuses on strategic investments in early or late stage high growth companies and selects venture funds globally. CE-Ventures seeks to partner with innovative and purpose-oriented entrepreneurs, embrace disruptive technologies and new business models, and distribute patient and resilient capital in support of new businesses that complement the businesses of Crescent Enterprises.

https://www.crescententerprises.com/ce-ventures/

© Press release 2021

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