Hesham Zreik, CEO of FasterCapital -interview

Hesham Zreik, CEO of FasterCapital -interview Group CEO Of Diriyah Company: Transforming Diriyah into a Global Cultural and Tourism Destination

In the context of work & talent, how do you see the Middle East emerging as a top destination for setting up businesses, attracting talent, and building the workforce of the future? What are the factors contributing to the growth of this region?

The Middle East has been gradually emerging as a top destination for entrepreneurs and innovative startups. I see several factors contributing to the growth of the region: •Economic Diversification: Many countries in the Middle East are actively diversifying their economies away from oil dependency. They are investing heavily in sectors such as technology, finance, tourism, renewable energy, healthcare, and education. This diversification strategy attracts businesses from various industries and creates opportunities for talent in different sectors. •Infrastructure Development: Governments in some countries in the region have invested significantly in developing world-class infrastructure including airports, ports, roads, and telecommunications networks. •Entrepreneurial Ecosystem: The Middle East has witnessed a rise in entrepreneurial culture with governments actively supporting startups through policies and incentives like tax breaks and funding programs. This favorable ecosystem encourages innovation and attracts entrepreneurs from around the world.

How do you see the Middle East as an emerging market for tech startups?

The Middle East has increasingly gained attention as an emerging market for tech startups especially in the last few years. The Middle East has made significant investments in digital infrastructure, including high internet penetration rates and advanced telecommunication networks which provided a strong foundation for tech startups to thrive. In addition to that, Governments in the Middle East are actively supporting the growth of tech startups through various initiatives, funding programs, and regulatory reforms.

Which area do you see the most investment happening in- Talent Acquisition technology, HRIS/HCM, L&D technologies, etc?

While investment in HR Tech startups is happening across various areas in the Middle East, there are a few key areas that have been receiving significant attention and investment. Through our work with many HR Tech startups in MENA, we have witnessed an increasing interest mostly in talent acquisition technology. Talent acquisition technology solutions, such as applicant tracking systems (ATS), candidate assessment tools, and recruitment marketplaces, have gained traction in the region. We have also seen a trend in Human Capital Management. HRIS (Human Resource Information Systems) and HCM (Human Capital Management) solutions are in demand as organisations in the Middle East seek to digitise and automate their HR processes. Startups offering cloud-based HRIS/HCM platforms that encompass core HR functions like payroll, employee data management, attendance tracking, and performance management have seen significant investments.

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