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BIBAN 24: Winners of the 2024 Entrepreneurship World Cup

The 2024 Entrepreneurship World Cup concluded with 100 startups competing in the finals.

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The BIBAN 24 forum hosted the highly competitive 2024 Entrepreneurship World Cup, where startups from around the globe showcased their innovative ideas and advanced solutions across various sectors. Here is a detailed look at the winners across the different stages and categories:

Idea Stage

  • 1st Place: Nomiq (Armenia) – Awarded $50,000 for automating coding instructions, enabling a rapid transition from idea to implementation while optimizing cost and development time.
  • 2nd Place: Audiomatic (UAE) – Won $25,000 for using AI in music and sound effect generation.

Early Stage

  • 1st Place: Yumari (Mexico) – Secured $100,000 for its platform that connects global companies with producers and manufacturers in Latin America to create custom-made products.
  • 2nd Place: Encapsulate (USA) – Awarded $75,000 for developing “worm-on-a-chip” systems for swift and precise chemotherapy selection.
  • 3rd Place: amplifAI Health (Saudi Arabia) – Took home $60,000 for integrating AI with thermal imaging to detect health issues such as diabetic foot ulcers.
  • 4th Place: MyoGene Bio (USA) – Received $45,000 for its biotech solutions targeting muscle diseases.
  • 5th Place: Hormona (UK) – Granted $35,000 for its AI-supported home hormonal tests for women’s health.

Growth Stage

  • 1st Place: Mismar (Saudi Arabia) – Won the grand prize of $200,000 for its automotive tech and digitized after-sales services that enhance customer experience.
  • 2nd Place: N&E Innovation (Singapore) – Awarded $140,000 for replacing harmful chemicals in agriculture with natural solutions.
  • 3rd Place: Sommalife (Ghana) – Took home $70,000 for connecting farmers to global markets and promoting their roles as environmental stewards.

Innovation Track ($50,000 Prize)

The Innovation Track winners included:

  • EnergyX (Korea): Transforming buildings into net-zero energy consumers using software and hardware technology.
  • Vitrovian MD (South Africa): The first AI application for selecting high-quality sperm for IVF.
  • Marine Innovation (Korea): Utilizing seaweed as a sustainable ingredient for food products and packaging.
  • Salutes Space (Germany): Developing chip-integrated robots for autonomous operations in space and on Earth.

The 2024 Entrepreneurship World Cup concluded with 100 startups competing in the finals, and 14 of them winning a total of $1 million in prize money. These companies stood out for their exceptional and innovative solutions, and we wish them continued success in their future endeavors.

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UAE Construction Market to Reach AED 614 Billion by 2031 as PropTech Adoption Grows

UAE construction market projected to reach AED 614 billion by 2031

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 The UAE’s construction sector is set to continue its upward trajectory over the coming years, with the market projected to reach AED 614.38 billion by 2031, according to market intelligence and advisory firm ‘Mordor Intelligence’.

The continued expansion is supported by sustained public and private investment, major urban development plans, infrastructure projects and growing demand across residential, hospitality, logistics and other sectors. Dubai remains a key contributor to this growth, accounting for 47.2% of the UAE construction market in 2025, according to the report.

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As the scale and complexity of construction projects across the UAE continue to increase, technology is also becoming an increasingly important component of the development process. From digital design and Building Information Modelling (BIM) to immersive visualization and virtual experiences, technology is enabling developers, architects and investors to evaluate projects in greater detail before construction begins.

Lifesize Plans Dubai, a leading provider of full-scale architectural plan projection and immersive visualization, has been contributing to the UAE’s evolving real estate and construction landscape since entering the market in 2023. By combining full-scale physical projections with Virtual Reality (VR) and Augmented Reality (AR), the company enables users to explore different floor-plan configurations, finishes and design options during the pre-construction stage.

Georges Calas, CEO of Lifesize Plans Dubai, commented: “The continued expansion of the UAE’s construction market reflects the scale of development taking place across the country and the growing expectations of both developers and buyers. As projects become more sophisticated, we believe that allowing people to experience a property before it is built can provide a valuable additional layer of understanding and reassurance, while helping to identify potential considerations before construction begins.”

With infrastructure forecast to be one of the UAE construction market’s fastest-growing segments through 2031, alongside continued activity across residential, commercial and hospitality developments, the demand for technologies that can improve project visualization and decision-making is expected to continue evolving.

As the UAE’s construction and real estate sectors progress, complementary technologies such as immersive visualization and PropTech are increasingly positioned to play a role in improving design communication, enhancing the customer experience and supporting more informed decisions throughout the development lifecycle.

About Lifesize Plans Dubai:

Lifesize Plans Dubai is the UAE’s premier provider of full-scale architectural plan projection and virtual walkthroughs. By combining physical-scale visualizations with immersive technology, the company bridges the gap between concept and construction—helping clients experience, evaluate, and enhance their projects before building begins.

 

 The UAE’s construction sector is set to continue its upward trajectory over the coming years, with the market projected to reach AED 614.38 billion by 2031, according to market intelligence and advisory firm ‘Mordor Intelligence’.

The continued expansion is supported by sustained public and private investment, major urban development plans, infrastructure projects and growing demand across residential, hospitality, logistics and other sectors. Dubai remains a key contributor to this growth, accounting for 47.2% of the UAE construction market in 2025, according to the report.

As the scale and complexity of construction projects across the UAE continue to increase, technology is also becoming an increasingly important component of the development process. From digital design and Building Information Modelling (BIM) to immersive visualization and virtual experiences, technology is enabling developers, architects and investors to evaluate projects in greater detail before construction begins.

Lifesize Plans Dubai, a leading provider of full-scale architectural plan projection and immersive visualization, has been contributing to the UAE’s evolving real estate and construction landscape since entering the market in 2023. By combining full-scale physical projections with Virtual Reality (VR) and Augmented Reality (AR), the company enables users to explore different floor-plan configurations, finishes and design options during the pre-construction stage.

Georges Calas, CEO of Lifesize Plans Dubai, commented: “The continued expansion of the UAE’s construction market reflects the scale of development taking place across the country and the growing expectations of both developers and buyers. As projects become more sophisticated, we believe that allowing people to experience a property before it is built can provide a valuable additional layer of understanding and reassurance, while helping to identify potential considerations before construction begins.”

With infrastructure forecast to be one of the UAE construction market’s fastest-growing segments through 2031, alongside continued activity across residential, commercial and hospitality developments, the demand for technologies that can improve project visualization and decision-making is expected to continue evolving.

As the UAE’s construction and real estate sectors progress, complementary technologies such as immersive visualization and PropTech are increasingly positioned to play a role in improving design communication, enhancing the customer experience and supporting more informed decisions throughout the development lifecycle.

About Lifesize Plans Dubai:

Lifesize Plans Dubai is the UAE’s premier provider of full-scale architectural plan projection and virtual walkthroughs. By combining physical-scale visualizations with immersive technology, the company bridges the gap between concept and construction—helping clients experience, evaluate, and enhance their projects before building begins.

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Qatar Development Bank Opens Applications for MANARAT, Offering Ready-Built Facilities to Help Manufacturers Adopt Industry 4.0 Technologies

Qatar Development Bank has launched Manarat, a new advanced manufacturing hub offering 16 ready-built factory units for technology-driven manufacturers, as Qatar seeks to accelerate Industry 4.0 adoption and develop factories capable of joining the World Economic Forum’s Global Lighthouse Network.

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Qatar Development Bank (QDB) has launched the Advanced Manufacturing Hub (Manarat), a new industrial complex designed to accelerate the adoption of advanced manufacturing technologies and build a new generation of high-tech factories in Qatar.

Developed in partnership with the Centre for the Fourth Industrial Revolution (C4IR) at the Ministry of Finance and the Ministry of Commerce and Industry, Manarat is opening applications for 16 ready-built factory units located in Qatar’s New Industrial Area.

The initiative targets both Qatar-based manufacturers and international investors operating in technology-intensive industries, combining physical manufacturing infrastructure with advisory, financing and export support from QDB.

Manarat Targets Industry 4.0 Manufacturing

Manarat is designed around Fourth Industrial Revolution technologies, including automation, artificial intelligence and advanced digital systems that can improve factory productivity, efficiency and competitiveness.

The industrial complex will focus primarily on strategically important manufacturing sectors including medical devices, pharmaceuticals, electronics and telecommunications, robotics and chemicals, alongside other related industries.

Companies applying to Manarat will undergo a two-stage assessment. The first evaluates eligibility and technical readiness, while the second examines the technical and commercial viability of their proposed manufacturing projects.

The model is intended to bring technology-driven manufacturers, investors and expertise into a shared industrial ecosystem where companies can exchange knowledge while developing more sophisticated production capabilities.

Qatar Wants Factories to Join WEF’s Global Lighthouse Network

The name Manarat, meaning “Lighthouses,” reflects one of the initiative’s longer-term ambitions: helping factories operating from the hub develop toward the standards associated with the World Economic Forum’s Global Lighthouse Network.

The network recognizes manufacturing sites that have demonstrated advanced deployment of Fourth Industrial Revolution technologies and significant transformation of their operations.

Manarat is being developed through cooperation with the World Economic Forum’s Centre for the Fourth Industrial Revolution, with smart infrastructure and technology adoption forming central parts of the initiative.

Dr. Hamad Salem Mejegheer, QDB’s Executive Director of SME Development, said the hub is intended to help companies expand production capacity, attract international expertise and develop specialized knowledge locally.

“Investing in advanced manufacturing is a key pillar in strengthening Qatar’s position as a leading regional hub for industrial innovation and enabling our factories to join the WEF’s Global Lighthouse Network,” Mejegheer said.

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QDB Combines Factory Space With Financing and Export Support

Manarat goes beyond providing industrial space. QDB plans to offer participating manufacturers an integrated support structure that includes advisory services, financing solutions and export support.

For international companies, the hub provides a potential route into Qatar’s manufacturing sector through ready-built facilities and access to a wider development ecosystem. For local manufacturers, it is intended to reduce barriers to adopting advanced technologies and expanding production.

Dr. Abdulaziz Khalid Al-Ali, Director of C4IR at the Ministry of Finance, said Manarat will provide infrastructure and standards aligned with international efforts to accelerate Industry 4.0 adoption.

The Ministry of Commerce and Industry is also seeking to increase the digital readiness of Qatari factories and encourage greater use of automation, AI and advanced digital solutions.

Qatar’s Industrial Investments Reach QAR 248.44 Billion

The initiative forms part of the Qatar National Manufacturing Strategy 2024–2030, which seeks to increase manufacturing’s contribution to non-hydrocarbon GDP, localize production and create specialized jobs in advanced technology.

Cumulative investment in Qatar’s industrial sector reached QAR 248.44 billion in the second quarter of 2026, according to figures cited by the Ministry of Commerce and Industry.

Manarat adds a dedicated advanced manufacturing component to those efforts, targeting industries where technology, specialized expertise and sophisticated production infrastructure can create higher-value economic activity.

By combining 16 ready-built factories with technology infrastructure and QDB’s financing, advisory and export capabilities, the initiative aims to help manufacturers move toward smarter production models while supporting Qatar’s broader push for economic diversification and a knowledge-based economy.

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MoneyHash Partners With Geidea to Give Businesses Unified Access to Payment Infrastructure Across Saudi Arabia, UAE and Egypt

Payment orchestration platform MoneyHash has partnered with regional fintech Geidea, enabling businesses to access Geidea’s online payment gateway and supported payment methods across Saudi Arabia, the UAE and Egypt through a single MoneyHash integration.

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Payment orchestration platform MoneyHash has partnered with regional payments company Geidea to expand the payment capabilities available to businesses across Saudi Arabia, the UAE and Egypt.

Through the partnership, companies already integrated with MoneyHash will be able to access Geidea’s online payment gateway and supported payment methods without building and maintaining a separate technical integration.

The collaboration adds Geidea to MoneyHash’s unified payment infrastructure, allowing merchants to manage its services alongside other payment providers and methods through the same orchestration layer.

One Integration for Multiple Payment Providers

MoneyHash is building infrastructure designed to reduce the technical complexity businesses face when operating multiple payment providers.

Traditionally, companies expanding into new markets often need to integrate separately with different gateways, acquirers and local payment methods. Each additional integration requires engineering resources to build, maintain and monitor, making payment infrastructure increasingly complex as businesses scale.

Payment orchestration platforms address that problem by creating a common infrastructure layer connecting businesses to multiple providers through a single integration.

Under the new partnership, businesses using MoneyHash can activate Geidea’s capabilities within that existing infrastructure rather than creating a separate connection.

“Businesses should be spending their time building great products, serving customers, and growing into new markets, not repeatedly rebuilding and maintaining payment infrastructure,” said Nader Abdelrazik, CEO and Co-founder of MoneyHash.

“Bringing its strong regional payment capabilities into the MoneyHash ecosystem gives businesses a simpler way to access the infrastructure they need while we take care of the complexity behind the scenes.”

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Geidea Adds Regional Payment Capabilities

Founded in Saudi Arabia in 2008, Geidea has developed into a regional payments provider operating across Saudi Arabia, the UAE and Egypt.

The company has payment acquiring capabilities in Saudi Arabia and the UAE and payment aggregation capabilities in Egypt. Its broader offering includes online payment gateways, point-of-sale systems, payment terminals and business management tools.

Integrating those capabilities into MoneyHash gives merchants another route to accessing payment infrastructure across three major Middle Eastern and North African markets.

Pankaj Kundra, CEO of Geidea UAE, said the partnership is designed to give businesses greater flexibility in managing payments as they expand.

“Our collaboration with MoneyHash makes Geidea’s payment capabilities easier to access through a flexible, connected infrastructure,” Kundra said. “Together, we’re giving businesses greater choice and flexibility in how they manage payments and scale across the region.”

MoneyHash Targets Payment Complexity in Emerging Markets

MoneyHash provides a payment orchestration platform that allows businesses to integrate and operate multiple payment services through a single API.

Its infrastructure includes smart payment routing, multi-currency processing and a unified dashboard, allowing companies to manage different parts of their payment stack from one system.

That model is particularly relevant for companies operating across multiple markets, where payment preferences, providers and infrastructure can vary considerably between countries.

Instead of replacing individual payment providers, MoneyHash acts as the infrastructure connecting them, allowing businesses to add or change payment capabilities without rebuilding significant parts of their underlying payment systems.

Partnership Targets a More Flexible Regional Payments Stack

The collaboration comes as digital businesses across the region increasingly operate across borders, creating demand for payment infrastructure capable of adapting to different markets and customer preferences.

For MoneyHash, adding Geidea strengthens the range of regional payment capabilities accessible through its orchestration platform. For Geidea, the integration provides another distribution channel through which businesses can access its services.

The partnership was marked during Seamless Middle East in Dubai, where Abdelrazik and Kundra met ahead of the official announcement.

As both companies expand their presence in the region’s digital payments ecosystem, the integration is designed to give merchants greater flexibility to activate new payment services and enter additional markets without repeatedly rebuilding their payment infrastructure.

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