News
Meta & Startupbootcamp Program Will Promote MENA Startups
The initiative will encourage AI adoption through a series of workshops and bootcamps and offer $500,000 to support product development.
Facebook and Instagram owner Meta has begun a collaboration with Startupbootcamp, a startup accelerator responsible for over 1,600 successful launches.
The strategic partnership aims to boost the MENA region’s startup scene using cutting-edge AI technologies through its Llama Design Drive initiative.
The program consists of three four-week sprints that will take place across the United Arab Emirates, Saudi Arabia, and Egypt. Llama Design Drive highlights include workshops and mentorship sessions and strategic partnerships with industry thought leaders.
The program by Meta and Startupbootcamp hopes to bridge the gap between established companies and the dynamic AI startup sector. To that end, Llama Design Drive will promote the use of Meta’s open-source large language model, Llama 3.1, helping companies develop products that tackle “real-world challenges in mobility, aviation, energy distribution, retail, and real estate”.
Startups recruited into the Llama Design Drive program will get the opportunity to be fast-tracked into a global initiative sponsored by Meta and have the chance to win up to $500,000 to support future product development.
“Our program not only promotes the adoption of AI technologies to develop solutions for corporate challenges but also facilitates connections between startups, corporates, and industry experts to expand networks and gain valuable knowledge and technical skills,” explained Ibrahim “Abe” Seksek, CEO MENA at Startupbootcamp.
Also Read: The Most AI-Proof Career Opportunities In The Middle East
“The whole world is excited to see how AI can add value to people’s lives,” added Joulan Abdul Khalek, Policy Programs Manager, Africa Middle East and Turkey at Meta. “Llama Design Drive is a great example of how open source can bring people together to co-create meaningful AI solutions. By doing so, we hope to cultivate a thriving community of tech talent across the region, working with them to unlock the potential of these exponential technologies to address real-world challenges”.
The MENA region — and the Middle East in particular — is ideally positioned for AI sector dominance, with both governments and businesses scrambling to adopt advanced technologies. In real terms, the Middle East as a whole is expected to reap 2% of the total worldwide benefits of AI by 2030, with annual growth surging to 20-34% across the region.
News
Lebanon Ministers Meet Visa Over National Digital Payment Platform
Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.
Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.
The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.
The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.
Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.
Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.
Also Read: Deezer Says AI Tracks Now Make Up 44% Of Uploads
Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.
“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.
Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.
Lebanon Ministers Meet Visa Over National Digital Payment Platform
AltoVolo Releases Sigma Footage & Sets Date For Demonstrator
Careem Launches Lebanon Aid Drive With WFP
United Arab Emirates To Quit OPEC After 59 Years
YouTube Tests Conversational AI Search Tool
Yango Ride Introduces In-Chat Trip Planning In ChatGPT
Deezer Says AI Tracks Now Make Up 44% Of Uploads
NVIDIA Puts GPT-5.5 Codex In Hands Of 10,000 Staff
United Arab Emirates To Quit OPEC After 59 Years
