VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
When someone shops in a mall or dines at a restaurant, they are considered consumers. The moment they step into a clinic or hospital, however, they become patients, losing some of their autonomy in a space where the fear of making the wrong decision and pressure of selecting the right procedure takes over.
Amir Barsoum is one entrepreneur looking to eradicate the fear and indecision, using technology to empower consumers to also make more-informed healthcare decisions. The founder of Egypt's healthcare start-up Vezeeta has created an app that allows users to search for doctors by their specialisation and location, see reviews from other patients who used the service and, in turn, book an appointment.
In every experience of the healthcare industry, patients are weak and not informed, and we believe our role is to change that.
"We're in the business of converting patients into consumers," says Mr Barsoum
Egypt ranked as the top nation with the most start-up investment deals closed in 2019 in the Middle East and North Africa, attracting 25 per cent of the 564 sealed deals, according to a January report by start-up data platform Magnitt. The North African nation was second, after the UAE, in terms of deal values, attracting 14 per cent of the $704m in total funding.
First set up in 2012, Vezeeta now serves 4.5 million users, who make 300,000 bookings a month, with 20,000 subscribed doctors across its operations in Egypt, Saudi Arabia, Jordan and Lebanon.
The app matching patients with doctors is free for users but the business charges healthcare providers a transaction fee that depends on the specialisation and location.
While Egypt and Saudi Arabia are the company's biggest markets, recording a "strong pick up" in demand over the past 18 months, Mr Barsoum says, Vezeeta is now eyeing expansion into new markets beyond the Middle East, with plans to enter Africa and South-east Asia in early February.
"We’re more comfortable with emerging markets but there’s global opportunities," Mr Barsoum, from Egypt, says. "Globally, we can be operating as north and south as it gets. As long as there’s fragmentation in the healthcare market, that’s where we can add value to our consumers or patients."
The start-up, which has raised $22.6 million (Dh83m) since it set up eight years ago, is seeking another round of funding to pay for its expansion to new markets, as well as research and development (R&D) and new products, Mr Barsoum says. He declined to reveal the amount or timing for the new fund raising round.
One product is the pharmacy platform the company launched on the app in December 2019 for limited areas, which it plans to grow to the rest of its markets within three to six months. The service allows doctors to file their prescriptions on the app, which then delivers the medicine to patients at their doorstep or allows them to refill an existing prescription.
Other new products will use data science and machine learning to enhance algorithms that match doctors with healthcare providers to ensure better outcomes.
Vezeeta, which has its headquarters in Dubai and count's the UAE's early-stage venture capital firm Beco Capital as one of its shareholders, raised $12m in a Series C funding round in 2018 led by Saudi Technology Ventures (STV).
The start-up is valued "well above" $100m, Mr Barsoum says..
Its annual revenue has tripled year-on-year in the period between 2016 and 2019, he said, declining to disclose dollar figures.
While its business in Egypt, the Arab world's most populous country, is "pretty profitable," its operations in Lebanon were hurt by the ongoing anti-government protests raging across the nation.
"There were very tough days where business was strongly affected … It got pretty hard early on," Mr Barsoumd says. "But things have normalised in the last two to three weeks."
Mr Barsoum, who says his previous experience working as a management consultant for the global consultancy McKinsey and as a Mena strategy manager at pharma giant AstraZeneca enriched the process of starting Vezeeta, adds that the biggest challenge for the tech industry is attracting the right talent.
"Egypt is the biggest source of this talent in the region," he says. "But the amount of brain-drain we’re losing to Europe and the US has exceeded expectations."
Another challenge for the region's tech industry is attracting financing from major international venture capital firms.
"We need to depend on money coming out of the region, which is enough if you’re thinking of tickets of $20m to $30m, but beyond that we need global players," he says.
Q&A: Amir Barsoum, founder of Vezeeta
What does Vezeeta mean?
It is the Egyptian colloquial term for the payment made for a doctor's visit
What is the core focus of the company?
To empower consumers through data and technology. Patients in different parts of the world, whether in developed or developing markets, lack all kinds of empowerment. In every experience of the healthcare industry, patients are weak and not informed, and we believe our role is to change that.
Who first invested in you?
Egypt's venture capital fund, the Technology Development Fund.
What already successful start-up do you wish you had started?
Travis Kalanick’s Cloud Kitchen start-up would top my list. The Ghost Kitchen model is completely disrupting the hospitality industry as we know it, making brick and mortar restaurants a thing of the past.
What is your next big dream?
To become the global booking powerhouse serving and empowering patients in each step of their healthcare journey.
What new skills have you learnt in the process of launching your start-up?
Definitely, identifying the right talent. I believe in hiring our weaknesses. As we grow in size and impact around the globe, I’m proud to have built a culture that attracts and retains talent that generates disruptive ideas and exponential growth.
The biog
DOB: 25/12/92
Marital status: Single
Education: Post-graduate diploma in UAE Diplomacy and External Affairs at the Emirates Diplomatic Academy in Abu Dhabi
Hobbies: I love fencing, I used to fence at the MK Fencing Academy but I want to start again. I also love reading and writing
Lifelong goal: My dream is to be a state minister
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The%20Kitchen
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EDaniel%20Kaluuya%2C%20Kibwe%20Tavares%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EKane%20Robinson%2C%20Jedaiah%20Bannerman%2C%20Hope%20Ikpoku%20Jnr%2C%20Fiona%20Marr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%C2%A0%3C%2Fp%3E%0A
More on Quran memorisation:
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
The specs: 2019 BMW i8 Roadster
Price, base: Dh708,750
Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery
Transmission: Six-speed automatic
Power: 374hp (total)
Torque: 570Nm (total)
Fuel economy, combined: 2.0L / 100km
SERIE A FIXTURES
Saturday (UAE kick-off times)
Atalanta v Juventus (6pm)
AC Milan v Napoli (9pm)
Torino v Inter Milan (11.45pm)
Sunday
Bologna v Parma (3.30pm)
Sassuolo v Lazio (6pm)
Roma v Brescia (6pm)
Verona v Fiorentina (6pm)
Sampdoria v Udinese (9pm)
Lecce v Cagliari (11.45pm)
Monday
SPAL v Genoa (11.45pm)
Astroworld
Travis Scott
Grand Hustle/Epic/Cactus Jack
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
England Test squad
Ben Stokes (captain), Joe Root, James Anderson, Jonny Bairstow, Stuart Broad, Harry Brook, Zak Crawley, Ben Foakes, Jack Leach, Alex Lees, Craig Overton, Ollie Pope, Matthew Potts
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Top tips to avoid cyber fraud
Microsoft’s ‘hacker-in-chief’ David Weston, creator of the tech company’s Windows Red Team, advises simple steps to help people avoid falling victim to cyber fraud:
1. Always get the latest operating system on your smartphone or desktop, as it will have the latest innovations. An outdated OS can erode away all investments made in securing your device or system.
2. After installing the latest OS version, keep it patched; this means repairing system vulnerabilities which are discovered after the infrastructure components are released in the market. The vast majority of attacks are based on out of date components – there are missing patches.
3. Multi-factor authentication is required. Move away from passwords as fast as possible, particularly for anything financial. Cybercriminals are targeting money through compromising the users’ identity – his username and password. So, get on the next level of security using fingertips or facial recognition.
4. Move your personal as well as professional data to the cloud, which has advanced threat detection mechanisms and analytics to spot any attempt. Even if you are hit by some ransomware, the chances of restoring the stolen data are higher because everything is backed up.
5. Make the right hardware selection and always refresh it. We are in a time where a number of security improvement processes are reliant on new processors and chip sets that come with embedded security features. Buy a new personal computer with a trusted computing module that has fingerprint or biometric cameras as additional measures of protection.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
