UAE: Meet the Emirati woman named Mena’s Fintech Leader of the Year – News
The mother-of-two has driven Dubai’s innovation with DIFC’s Fintech Hive, which has accelerated more than 200 startups since its inception
Photos by Shihab
Raja Al Mazrouei, Executive Vice-President, DIFC Fintech Hive, is a role model for Emirati women’s empowerment in the 21st century as the young nation leaps towards the Next 50.
The unassuming Al Mazrouei, a doting mother of two young boys, Ali and Omar, has consistently been among the 100 most powerful businesswomen in the Middle East according to Forbes, one of the 50 most influential women in Middle East finance according to Dow Jones, and has even been named to Mena Fintech Leader of the Year by Entrepreneur magazine.
She reflected on her formative years at Al Karamah in the city of Abu Dhabi. “It is a blessing to be born in the UAE and grow up in a country that has been developing every single day,” she said.
“Our nation is an inspiration to the rest of the world because the United Arab Emirates is a young country that has achieved so much in such a short time – and so are we, the Emiratis. We were born into a culture and into a community that supports creativity , innovation, progress and rapid development.
Although we faced several challenges, we always overcame them with our sheer force, determination and commitment due to the good leadership. Our visionary leaders have enabled us to understand how to best utilize endless opportunities to hone our skills and develop as a community, building a strong and resilient nation in a rapidly changing world,” she said.
Her brush with technology in the 1990s – driven by her “curious mind about this new science” – set her a class apart among her peers. “I was one of the first Emirati women to specialize in technology in the 1990s,” she said.
Technology was not the thing at the time, as many of my peers were involved in either education or business management. Initially, I started my career as a computer programmer. I started taking on more complex roles in technology and infrastructure management, and network systems implementation after I moved to Dubai from my native Abu Dhabi,” she said.
In retrospect, 2014 was a watershed year.
“That year, I had the opportunity to join Harvard Business School in an advanced executive education program, where I was exposed to more advanced options,” she added.
Fortunately, she was exposed to endless opportunities and probabilities to leverage her education and launched the DIFC Fintech Hive three years later in 2017.
“We launched the DIFC FinTech Hive to enable financial institutions to leverage technology, and co-create opportunities with entrepreneurs and fintech startups who were interested in coming to the region from around the world. I leveraged my relationships and network to promote the unit,” she said.
The numbers speak for themselves about the new entity’s coming of age under her able leadership.
“So far, we have accelerated more than 200 startups through our various programs. Our startups raised more than $500 (Dh1,836.50) million in funding; we have launched more than 100 products in the MENA region through these startups.
In 2019, we launched AccelerateHer, a women-focused career mentoring accelerator that aims to equip young aspiring leaders with the necessary tools and experiences to expand their knowledge and reach in the industry, and play a more active role in shaping the future of finance. landscape.”
Data showed that more than 80 women were accelerated through this program, of which around 20 percent are Emiratis.
Al Mazrouei, who loves to travel the world and absorb global cultural traditions and social mores, attributed her amazing career path to her “supportive family”, who encouraged her to pursue academics to quench her thirst for knowledge.
However, she does not choose to single out her own family, but “the Emirati culture in general”.
She said: “We are mostly caring and supportive of each other. Inclusivity is a hallmark, as evidenced by the fact that the UAE is a home-away-from-home of over 200 different nationalities.
Traveling has broadened Al Mazrouei’s horizons, and her learning experience is constantly enriched through people, books, videos and films.
“Critical thinking is the key. Perhaps the only way to hone this skill is by exploring new topics and seizing opportunities in a brave new world driven by robotics, artificial intelligence, Web 3.0 and innovation,” she said.
Al Mazrouei is optimistic about the next generation of Emiratis. “I am hopeful for the next generation, who will remain connected to our glorious culture. I encourage my young sons – Ali and Omar – to learn technology, which has changed the world.
They remain open to other learning opportunities and I don’t push them towards one or the other. But I can see that the future holds enormous opportunities for the youth in technology as well as financial services and economics, because it is what contributes to the total GDP (gross domestic product), and will shape unique opportunities for the next generation, she signed off. of.
A wonderful career
Al Mazrouei encapsulates the breakneck growth and development of her eponymous ethnic Arab ancestry – the main Bedouin section of the Bani Yas, who lived in the settlements of Liwa in the UAE’s largest emirate, Abu Dhabi.
Until the first half of the 20th century, the Bedouin’s livelihood was largely dependent on camels and pearl boats amidst the decline of camel breeding and date plantations.
In less than half a century, Al Mazrouei showcased her entrepreneurial spirit and passion for progression, which has been the driving force behind her achievements and continues to fuel her ambition to advance the UAE’s position as an innovation destination on the global stage.
She has held senior positions in the information technology sector, operations and marketing teams in various organisations, including Dubai Holding, National Bonds Corporation and Dubai International Financial Center (DIFC).
Her marketing and communications expertise has enabled her to bring brands to life and foster communities to create business opportunities and social impact for the growing fintech sector.
Al Mazrouei has more than a decade of experience in the financial sector; she has developed the FinTech Hive, an ecosystem for fintech entrepreneurs and stakeholders in Dubai. It is the primary contributor in the Emirates and has ranked among the top 10 global FinTech hubs.
She has been instrumental in bringing together leading financial institutions, government entities, technology partners, venture capital and entrepreneurs to realize the common goal of driving the UAE’s innovation agenda and shaping the future of financial services. Al Mazrouei has contributed significantly in building a vibrant and dynamic community of over 350 startups operating in the DIFC.
A graduate of Harvard Business School (HBS), she serves as a member of the Harvard Business School MENA (Middle East and North Africa) Advisory Board, and is the Vice President of the HBS Club for the Gulf Cooperation Council (GCC) region.
She also holds board positions in Dubai FinTech Ventures and Al Masraf Arab Bank for Investment and Foreign Trade. Finally, she is a member of the Board of Trustees of the Mohammed Bin Rashid School of Government.
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