ريادة الأعمال

For several years now, we’ve been witnessing brands entering new markets and industries to establish their presence there. Luxury brands have started to include their name in new product categories in hopes of increasing brand exposure and enhancing their image. Who can forget the launch of The Palazzo Versace hotel in 2000 and Elie Saab’s new perfume back in 2011? While both brands are well known names in the fashion industry, they have extended their operations beyond apparels. And today, we see many other brands following in their footsteps and entering the eyewear, restaurant, and hotel industries to name a few.

What is Brand Extension?

Brand extension in its simplest form refers to extending the brand name beyond its current industry. Take the above for example; both Versace and Elie Saab are renowned names in the fashion industry. But instead of keeping their operations limited to fashion they extended them to other industries, while still maintaining the luxury appeal. Brand extensions are successful because they allow companies to diversify their offerings. More importantly, customers already have an idea about the brand name and so would trust the new products/services.

New Trends in Brand Extension

Several brands have started riding the wave of extension. We’ve compiled a short list of brand names that have recently announced their plans to enter new industries.

Atari Themed Hotels

For those who grew up in the 80s and 90s, you certainly remember the days you used to play a game on your Atari console! The pioneer in the video game industry has decided to expand its operations while still maintaining its unique image. A few days ago, Atari announced its plans to open a series of themed hotels across the United States. Not only is the hotel concept set to be out of this world, but it’s also going to be a full and immersive experience. So, those who are fans of virtual gaming and augmented reality better get ready!

Louis Vuitton Restaurant and Café

How do you think the design will be? More importantly, where will a Louis Vuitton café and restaurant be located? There’s no surprise that luxury brand Louis Vuitton chose the “nation’s kitchen” as its location. Osaka, Japan, will not only be famous for its delicious food but also for it becoming a home for the new Sugalobo V and Le Café V. This is the very first time Louis Vuitton has decided to extend towards the culinary sector. So, don’t expect anything less than extraordinary from this brand. An outdoor terrace, a cocktail bar, and a one of a kind designs, Louis Vuitton sets the bar pretty high with this one.

Elie Saab’s Home and Furniture Collection

You’ve probably heard about Saab’s designs or his perfumes, but what about his new furniture collection? This well-known Lebanese fashion designer announced his plan to expand into the home and furniture line. For several years, Elie Saab’s brand has projected an image of classiness and luxury, which makes this announcement all the more exciting. Set to unveil his home collection at the Salone del Mobile in Milan 2020, we’re excited to witness the unique experience this brand will deliver.

We’re beginning to see a lot of brands diversifying their offerings and entering new industries. And as seen, it’s not just luxury brands who are expanding. With the continuous advancements and growth taking place around the world, who knows which brand will be next? And what market? That’s yet to be explored.

As we settle in for the ride that is 2020, we can’t help but reminisce on the rise of the entrepreneurial ecosystem in Jordan. We’re also excited for all the upcoming innovations and changes it will bring!

Entrepreneurship and startups are growing in popularity due to their significant role in economic growth. With continuous advancements in technology and the ever-growing human capital, they are reshaping the Jordanian job market.

Nonetheless, entrepreneurs and startups are boosting the economy for their innovative ideas and solutions. Let’s take a closer look at how entrepreneurship in Jordan has changed in the past decade.

Business and Financial Developments

It’s now much easier than before for startups to get financial support and mentorship due to the rise of incubators and accelerators. These entities play a crucial role in a startup ecosystem.

Accelerators offer programs for individual companies which can range between a few weeks to a few months. They offer mentorship and seeding opportunities in exchange for a particular share of equity from these companies. On the other hand, incubator programs can range between one to five years. They offer a space in a co-working environment, mentorship, networking opportunities along with a month-to-month lease program.

Both entities also provide startups with tips that help them steer clear of any business mistakes.

Diversity in Entrepreneurship

Although women entrepreneurs were present before, they are currently thriving along with the youth due to globalization and industrialization. Entrepreneurs of various ages and genders are coming up with innovative ideas for existing problems or in anticipation of future ones.

There’s a substantial rise in the number of female entrepreneurs in a wide array of domains related to education, health, tourism, tech etc. Names like Darine Al Ashy and Nour Al Hassan are changing the game field that is entrepreneurship. Young entrepreneurs have also become an integral part in this atmosphere. Recently two young Jordanian entrepreneurs – Hala Al-Jaberi and Raad Al-Kloob—created a mobile application that enables early detection of Alzheimer’s, making it possible for people of any age to know prior about the disease.

Governmental Changes

Last, but certainly not the least, one of the greatest achievements in Jordan is the creation of the new Ministry of Digital Economy and Entrepreneurship (MoDEE). Formerly known as the Ministry of Information and Communication Technology, it has evolved due to the leading role Jordan has been playing in the creation of a startup friendly ecosystem and leading Arab tech companies.

It’s no secret that Jordan has a skilled labor force. But the country also has an abundance of a future generation of entrepreneurs with great minds and strong will. Therefore, to support entrepreneurship and its key role in reshaping the kingdom, MoDEE promotes and drives new digital opportunities. It’s also setting plans in cooperation with other government institutions to overcome the challenges entrepreneurs might face such as securing funding, accessing human capital and talents, regulatory challenges etc.

Jordan is known to be a great entrepreneurial hub among neighboring Arab countries, and with everything that has happened in the past decade we can see why. The government is working hard to create laws that support the bright Jordanian entrepreneurial minds, and we’re positive 2020 will be yet another great year filled with innovation!

The brain plays an important role in every major body system, especially when it comes to processing sensory information and storing our memories. As we grow older, some of us begin to experience a neuro-degenerative disease otherwise known as brain shrinkage, or in other words loss of memory. While some people begin to forget few details, the unlucky ones begin to develop symptoms of an irreversible brain disorder called Alzheimer’s.

What is Alzheimer’s?

According to alzheimers.net, the number of people with Alzheimer’s disease is expected to rise by 35% in 2030. Due to the degeneration of the brain cells, this irreversible brain disorder damages the memory and thinking skills for people between 30 and mid-60. While the main symptom of this disease is memory loss, it is also associated with language problems and unpredictable behavior. People who suffer from this disease find it hard to do everyday tasks such as cooking, driving, and paying bills.

How did they come up with the idea?

Driven by a passion for technology, Hala Al-Jaberi and Raad Al-Kloob, the innovative high school duo, turned their final project at The Jubilee School, a King Hussein Foundation Institute in Jordan into a gold medal winner at the NYC Genius Olympiad and a finalist at Intel ISEF – USA. A mobile app with a 92% result accuracy, Al- Jaberi and Al-Kloob admitted that they both have relatives who suffer with this disease and they wanted to find a solution for this real-life problem.

During their interview with Umniah, Al-Kloob said, “We not only wanted to submit a project. We wanted to truly find a solution for an existing problem.” After a period of deliberation, both teens decided to create an app that can detect whether or not someone may experience Alzheimer’s in a few years.

How was the process of creating this app?

The innovative pair behind this app recalled spending a good amount of time researching on the topic of Alzheimer’s. “Not all websites provided the right data we were looking for, but our instructor, Ms. Sawsan Abou Jamaah, Jubilee School Head of the Research unit, helped us in finding the right sources,” Al-Jaberi recalled. The period following their research was dedicated to collecting data from hospitals; they still struggled, however, due to patient confidentiality measures.

Despite their obstacles, Al- Jaberi and Al-Kloob were able to get 175 participants on board with them between the ages of 18 and 92. They collected pictures of their eyes to see the difference between those who suffer from Alzheimer’s and others who do not. With the help of Dr. Saif Smadi – an eye specialist—they managed to find the correlation between the disease and the iris of the eye.

What makes this app special?

There is no complicated mechanism behind this mobile app. All you will have to do is upload an image of your eye. Once this is done, the app will use its special algorithms to compare the pattern of your iris to those within the pool of pre-accumulated data. The image processing techniques through the iris compares the image to the already existing images in the databas, and will then present you with the results that indicate whether you are prone to developing Alzheimer’s in the future. Through extensive research and app results, it was also discovered that people who suffered from Retinopathy—an outcome of diabetes—have a higher chance (44%) of developing Alzheimer’s.

While the two young innovators are focusing on their studies, they revealed that they’re hoping to further develop the app and launch it sometime in the future, especially after they won both national and international competitions such as the First Lego League (second place in Jordan, third place nationally), Intel ISEF – USA (finalist), and Genius Olympiad – NYC (Grand Award in Science category and Gold medal, science category).

To learn more about this special app, you can watch Hala Al-Jaberi and Raad Al-Kloub’s full interview here.