Duval Union Consulting launches book on corporate venturing in Middle East

05 July 2018 Consultancy-me.com

The MENA branch of Belgian-based digital strategy specialists Duval Union Consulting has released a book on corporate venturing in the Middle East region.

Providing practical advice for accelerating growth through corporate and start-up collaboration, the best-selling guide features a history of corporate venturing and in-depth case studies highlighting the value of successful collaboration between corporates and startups in delivering a competitive edge.

Authored together with Omar Mohout, a Professor of Entrepreneurship at Antwerp Management School, the book follows an earlier publication from Duval Union CEO Dado Van Peteghem and fellow Duval co-founder Jo Caudron – ‘Digital Transformation: A Model to Master Digital Disruption’ – which would ultimately bring the management firm to the Middle East.

Launching an office in Dubai at the start of this year in partnership with Chalhoub Group, the two were initially brought together when the luxury retailer’s co-founding brothers Patrick and Anthony Chalhoub uncovered the Duval founders’ 2013 book, impressed enough to invite the Belgian consultancy to guide Chalhoub on its digital transformation agenda.

With that first international push, the Ghent-headquartered Duval Union finally made the long-desired leap to the Netherlands, opening its second overseas branch in short matter of time. Since then, the emboldened firm has launched service lines in the food and retail sectors, with former Unilever executive Nils van Dam last week announced as the global head of its new food & retail practice.Duval Union Consulting launches book on corporate venturing in Middle EastDuval Union will now be hoping that Van Peteghem’s latest publication, ‘Corporate Venturing – Accelerate Growth Through Collaboration with Start-ups’, will have the same momentous impact in the Middle East – with the book already a best-seller in Belgium and the fastest ever moving title for its local publisher. The launch is a timely one too.

Start-up boom

In a recent report, the global management giants McKinsey & Company outlined the opportunity for significant growth in MENA’s digital economy, citing the high levels of digital engagement in the underserved region and the rapidly rising levels of funding for local start-ups – with the deal count jumping from 138 to 260 in the three years between 2014 and 2017, and the average ticket size growing at a compound annual rate of 54 percent.

Van Peteghem further elaborates on the budding sector; “With over 60 per cent of the Arab world’s population being below the age of 30 years, and the focus of governments in this region on nurturing a culture of local entrepreneurship, there could not have been a better time for startups to set up, grow and prosper in the MENA region than now. The evolution of the startup scene also presents opportunities and challenges for the more established corporate sector.”

Corporate Venturing

With Duval Union known for its innovative no-nonsense approach to consulting – attracting high-profile clients such as Samsung, Microsoft, Atlas Copco and Volvo (the last two of which recently tied for first place in a corporate decision-making survey by accounting network Crowe) – the book also shares this sensibility, described as a “no-nonsense, ready-to-apply comprehensive guide for creating and reviewing your corporate venturing strategy.”

Van Peteghem says: “Corporate venturing is aimed at anyone who wants to think structurally about their future, given that venturing is a strategic instrument set to thrive in this fast-changing world. Whether you want to capture technology innovation, market share, change your organisational culture or generate new revenue streams, the book provides practical insight into the different strategies that can be used to achieve competitive advantage.”

Omar Mohout, the book’s co-author and a technology entrepreneur, adds; “Businesses today talk of disruptive innovation and transformational change. Yet, many are hesitant to look towards collaboration, especially with start-ups, to drive innovation and growth… The principles we put forth have been successfully tried and tested in many other parts of the world – and will serve as a referral point for the Middle East region’s corporates, startups and all stakeholders.” 

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EY estimates $33 billion boon to UAE economy from Expo 2020 Dubai

16 April 2019 Consultancy-me.com

Professional services firm Ernst & Young has outlined the potential economic impact of Expo 2020 Dubai to the UAE economy, concluding a possible $33 billion windfall in gross value add and a near 50,000 full-time equivalent jobs per annum to 2031.

With the Expo 2020 Dubai global showcase now just around the corner – and expected to attract 25 million visits from across the world during its six month schedule from October next year – professional services firm Ernst & Young has released an economic impact report for the event, calculating a US$33 billion (AED122.6 billion) boost of gross value added (GVA) to the local economy from 2013–2031 along with contributing more than 900,000 ‘job years’.

“Expo 2020 Dubai is an exciting long-term investment for the UAE, and is expected to have a significant impact on the economy and how jobs are created directly and indirectly,” said EY MENA Transaction Advisory Services partner Matthew Benson, adding; “Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain global audiences.”

According to the report, the six months of the Expo – the first to be held in anywhere in the Middle East, Africa or South Asia in the event’s 168-year history – will contribute around 1.5 percent of the UAE annual forecast GDP, with the analysts taking in ‘direct’ increases in economic activity, ‘indirect’ benefits of increased supply chain demand, and ‘induced’ benefits from increased spending by employees of participating firms to arrive at its $33 billion figure.EY estimates $33 billion boon to UAE economy from Expo 2020 DubaiConsidering further the planning and legacy phases, EY has in addition estimated AED 4.7 billion in investment to small and medium enterprises (SMEs) during the pre-Expo phase, supporting approximately 12,600 job-years, with the Expo expected to support more than 900,00 full-time equivalent (FTE) job-years in total in the Emirates from 2013 to 2031 – equivalent to some 49,700 FTE jobs. Meanwhile, strong legacy planning will ensure the ongoing benefits.

“Over 80 percent of the Expo built environment is planned to be retained for District 2020, and eventually expand into a city covering more than four million square meters,” states the report, adding that District 2020 aims to support the UAE’s future vision as to sustainable economic development and an innovation-driven economy, with a supportive business environment for key growth industries such as logistics and transport, tourism, construction, real estate and education.

“Although the Expo event lasts less than a year, the positive economic impact continues far beyond the event,” said Jamie Torrens, EY MENA’s head of Economic Advisory in its transaction advisory service division. “Across the period of our study, spanning the Pre-Expo, During-Expo and Legacy phases between 2013 and 2031, Expo 2020 is expected to support billions of dirhams of Gross Value Added (GVA) and thousands of jobs in the UAE.”

As a breakdown, the three largest impact areas across the full study period will be events organisation & business services (contributing over half of the overall figure) followed by construction and then hospitality, while transport, storage & communications will be another significant contributor during the life of the Expo and its planning phase. Retail will also see a boost during the legacy period, with nearly 550,000 jobs years created in this period across sectors.

“This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment,” said Expo 2020 Executive Director Najeeb Mohammed Al-Ali. “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”

Related: Accenture and SAP roll out next-generation technology for Dubai Expo