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• Case | HBS Case Collection | March 2020 (Revised September 2020)

  FinTech Hive at DIFC: Creating a Fintech Ecosystem in Dubai

  Marco Di Maggio and Gamze Yucaoglu

  The case opens in 2019 as Raja Al Mazrouei, executive vice president of FinTech Hive (the Hive) at the Dubai International Financial Centre (DIFC), the first and largest financial technology accelerator in the Middle East, Africa and South Asia region, contemplates her and the Hive’s option to support the fintech ecosystem in Dubai as the accelerated startups face funding challenges in the market.
  The case chronicles Al Mazrouei’s efforts to set up the Hive in 2016 to create a fintech ecosystem in the region in line with the Kingdom’s National Agenda to help financial institutions engage with technology to remain relevant to the region’s evolving customer and market needs. The case provides a detailed overview of the model the Hive was based on and its growth story that led the Hive to rank as the 10th largest Global Fintech Hub and the 3rd biggest Global Islamic Fintech Hub in 2019.
  Having successfully “graduated” two classes of startups, in 2019 the Hive had signed partnerships with accelerators and incubators around the world and had announced a $100 million dedicated fund to support fintech companies globally. Yet, Al Mazrouei knew that she had just scratched the surface and there was a lot to be done. The investment mentality in the region was still quite conservative, and there were only a few venture capital funds and angel investors were virtually non-existent. The continued success of the startups depended on their access to funding and Al Mazrouei was concerned about the Hive’s ability to support the increasing number of fintech startups the Hive had lured to Dubai. One such startup that had successfully graduated from the Hive’s 2018 accelerator program was in the market raising funds. Would they succeed? Would the Hive’s funds be enough to encourage VCs, financial institutions, and angel investors to join in and invest in early-stage fintech startups to keep them going? How much longer could the Hive shoulder the weight of bolstering the fintech ecosystem in the UAE?

  Keywords: fintech; Emerging Markets; Business Startups; Venture Capital; Management; Technology; Growth Management; Financial Markets; Financial Institutions; United Arab Emirates; Middle East; Dubai;

  Citation:

  Di Maggio, Marco, and Gamze Yucaoglu. "FinTech Hive at DIFC: Creating a Fintech Ecosystem in Dubai." Harvard Business School Case 220-066, March 2020. (Revised September 2020.)  View Details

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• Teaching Plan | HBS Case Collection | September 2020

  Harlem Capital: Changing the Face of Entrepreneurship

  George Serafeim

  Jarrid Tingle and Henri Pierre-Jacques had spent the summer between their first and second years of their MBA program fund raising for their start-up venture capital (VC) firm, Harlem Capital Partners. Harlem Capital was founded upon the principle that addressing the VC funding gap for minorities and women—who received only 3% of total VC funding—could produce superior returns. Tingle and Pierre-Jacques were passionate about the mission of Harlem Capital to change the face of entrepreneurship. However, despite generating significant media attention, Harlem Capital had only raised a few million dollars over the summer, not nearly enough for the fund to be financially viable as a career path for Tingle and Pierre-Jacques.
  Should Tingle and Pierre-Jacques commit to Harlem Capital despite the serious roadblocks on their path? Or should they capitalize on their pre-MBA private equity experience and attempt to be impactful through a more traditional career post-MBA graduation?

  Keywords: venture capital firm compensation; entrepreneurial finance; entrepreneurial financing; Black entrepreneurs; black leadership; Black inventors; inclusion; minority-owned businesses; race and ethnicity; race characteristics; Entrepreneurship; Venture Capital; Diversity; Race; Gender; Mission and Purpose; Social Enterprise; Financial Services Industry; United States;

  Citation:

  Serafeim, George. "Harlem Capital: Changing the Face of Entrepreneurship." Harvard Business School Teaching Plan 121-027, September 2020.  View Details

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• Working Paper | HBS Working Paper Series | 2020

  Measuring the Cost of Corporate Water Usage

  DG Park, George Serafeim and T. Robert Zochowski

  We develop a methodology that calculates the impact that organizations have on the environment through their water consumption relating to water stress risk. Using the methodology, we derive estimates for four companies that show how assumptions on the geographic location of the water withdrawal and use of different prices for water across geographies lead to variation in these estimates. We conclude with a framework guiding a user to understand the conditions under which a methodology might lead to over- or underestimation of water costs.

  Keywords: Water; water management; environment; sustainability; Organizations; Environmental Sustainability; Valuation;

  Citation:

  Park, DG, George Serafeim, and T. Robert Zochowski. "Measuring the Cost of Corporate Water Usage." Harvard Business School Working Paper, No. 21-036, September 2020.  View Details

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