DUBAI: Business-sector news magazine Fast Company, which launched its Middle East edition this year, has unveiled its 2022 list of the Most Innovative Companies in the region.
It said the 42 companies on the list helped to reshaped their businesses and industries in 25 categories, including media, entertainment and e-commerce.
“Most Innovative Companies is one of our highly anticipated editorial efforts,” said Ravi Raman, publisher of Fast Company Middle East.
“It provides a snapshot and a road map for the future of innovation across the most-dynamic sectors and we were enthused by both the quantity and quality of the nominations received.
“Innovation is at the heart of everything we do and this list best reflects that.”
In the media category, Asharq News and Augustus Media were recognized for introducing vertical streaming and adapting to the changing world, respectively.
In the entertainment category, TikTok and OSN+ were identified as being the most innovative companies. The latter was chosen for its recent revamp, unconventional screening locations, and the augmented reality initiatives it developed ahead of the release of “House of the Dragon,” HBO’s prequel to “Game of Thrones.”
TikTok earned its spot for “placing power in the hands of the masses” by putting a studio in every content creator’s pocket, Fast Company said.
Advertising agency TBWA\RAAD ranked top in the advertising category for “re-engineering brand experiences.”
Reda Raad, the agency’s CEO, said: “We are very thrilled to be number one in the advertising sector and to be recognized for our commitment to innovation and to the power of disruptive creative ideas on behalf of our clients.”
In the artificial intelligence category, IBM, SAS and Crayon DMCC made the list for “applying AI to everything — from property valuations to detecting mortality risks and reducing carbon emissions.”
In the e-commerce section, which has surged since the start of the pandemic, Noon and Rabbit were recognized. The former was chosen for helping micro-entrepreneurs through its Mahali initiative, which provides Emirati and Saudi entrepreneurs with assistance and support to build their enterprises online.
Delivery company Rabbit was lauded for disrupting the quick-commerce model. It offers the promise of deliveries of groceries and other consumables within 20 minutes and after only a year of operation boasts a success rate of 94 percent.
Other companies on the list include Aramex, Sony PlayStation, Chalhoub Group, L’oreal Middle East, PepsiCo, Barakat Group, Pickl, MonkiBox, Independent Food Company, Technology Innovation Institute, RedSea, Aster DM Healthcare, G42 Healthcare, FIVE Hotels and Resorts, Cafu, GMG, Virgin Mobile UAE, Justlife, Virtuzone, Dulsco, Emirates National Oil Company, Pure Harvest Smart Farms, Peacefull, Huspy, Masdar City, Balinca, ZainTech, NOMADD Desert Solar Solutions, BitOasis Technologies, Mamo, Stripe and Zuhair Fayez Partnership Consultants.
Fast Company Middle East unveils its 2022 list of Most Innovative Companies
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Fast Company Middle East unveils its 2022 list of Most Innovative Companies
- The business news magazine’s list recognizes 42 companies in 25 categories it believes have reshaped their businesses and industries
University of Hong Kong hosts the first Saudi Economic Forum to boost China–Saudi ties
- The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration
RIYADH: The University of Hong Kong (HKU) has hosted the first-ever Saudi Economic Forum in Riyadh, bringing together nearly 100 senior officials, academics, and business leaders to deepen cooperation between China and Saudi Arabia in education, innovation, and economic growth.
Held under the theme “Enhancing the Global Competitiveness of Chinese and Saudi Institutions,” the forum marked a significant milestone in advancing strategic alignment between China’s Belt and Road Initiative and Saudi Vision 2030.
The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration, with participants exploring joint opportunities in investment, technology, renewable energy, and artificial intelligence.
Professor Hongbin Cai, dean of the faculty of business and economics at HKU, said the university aspires to become a “knowledge bridge” between the two nations, leveraging its global standing and extensive international networks. He noted that educational collaboration would be a cornerstone of the Saudi–Chinese partnership.
Saudi Arabia’s Assistant Deputy Minister of Investment, Fahad Al-Hashem, emphasized the depth of the China–Saudi partnership, noting that bilateral trade now exceeds $150 billion, with a growth rate of around 30 percent annually.
He reaffirmed the Kingdom’s openness to partnerships with China’s leading universities and technology companies, particularly in future-focused sectors aligned with Vision 2030, including education, digital transformation, AI, and clean energy.
The forum featured panel discussions on cross-border education, global city development, and technology transfer, with experts stressing the importance of joint ventures in the digital economy and smart infrastructure.
Participants said Saudi Arabia could benefit from China’s successful experiences in energy transition, infrastructure modernization, and innovation ecosystems as it builds globally competitive cities and institutions.
The Saudi Economic Forum concluded with calls for sustained academic and corporate partnerships to enhance institutional excellence and global competitiveness. Organizers said the initiative will continue to facilitate knowledge exchange and support national transformation goals in both countries, namely in the fields of technology and innovation.
