MEA August 2017

MEAMARKETS / August 2017 7 NEWS , The competition, in partnership with Flat- 6Labs, is looking for inspiring Egyptians who want solve prob- lems in an innovative and busi- ness friendly way. It will focus on the fields of recycling, energy and sustainable farming. The Hackathon is an open com- petition: any team of three to five people can apply online at www. behackathon.com, setting out their idea about how to solve a problem in one of these three fields and how to make this solu- tion into a viable business. The British Embassy will bring together the top 10 teams, invit- ing them to a two-day workshop where they will be given the tools they need to grow their ideas into successful business, including mentoring and training in busi- To increase share of Middle East & Af- rica in global oil & gas trade, national oil companies and major global oil companies oper- ating in MEA are shifting their fo- cus towards offshore exploration in deep and ultra-deep waters, to maintain their share of hydrocar- bon output. Large offshore fields have also been discovered in some countries in Africa, which are still in developing phase and are expected to largely contribute to oil & gas SURF market in the region during the forecast period. According to Middle East & Africa Oil & Gas Subsea Umbilicals, Ris- ers and Flowlines (SURF) Market, Competition Forecast and Oppor- tunities, 2011-2021, Middle East & Africa oil & gas SURF is projected to exhibit a CAGR of over 13%, in value terms, during the forecast period. Few of the leading players in Mid- dle East & Africa oil & gas SURF market includes Technip, subsea 7 SA, Aker Solutions ASA, Nex- ans SA, Saipem SpA, Prysmian S.p.A., VALLOUREC, ABB Ltd, Kongsberg Gruppen, Siemens AG, Airborne Oil & Gas B.V. Mid- dle East & Africa Oil & Gas Sub- sea Umbilicals, Risers and Flow- lines (SURF) Market, Competition Forecast and Opportunities, 2011- 2021, discusses the following as- pects of Middle East & Africa oil and gas SURF market: • Middle East & Africa oil & gas subsea umbilicals, ris- ers & flowlines (surf) market size, share & forecast; • Segmental analysis: by com- ponent (flowlines, risers and subsea umbilicals), by appli- cation (Deepwater, shallow water and ultra-deepwater); • Changing market trends & emerging opportunities and; • The competitive landscape. You can download the full report: www.reportbuyer. com/product/4925466/ Middle East & Africa Oil & Gas Subsea Umbilicals The British Embassy in Cairo launched a ‘Hackathon’ competition on 30th July to find the best aspiring social entrepreneurs in Egypt. ness skills. Finally, they will pres- ent their idea to a panel of judges, who will award prizes to the top teams. Flat6Labs is a leading regional start-up accelerator that fosters entrepreneurs with cutting edge ideas. It provides funding, strate- gic mentorship, business training and direct support for start-ups. It currently operates in Cairo, Jed- dah, Abu Dhabi, Beirut and Tunis and since 2011 has invested in 54 Egyptian start-ups including Instabug, Tasky and Nafham. The competition is part of the British Embassy’s Inspire Egypt initiative, which supports and cel- ebrates Egyptian change-makers who are making a real difference in society. HMAJohn Casson said: “The pas- sion and drive of young Egyptian entrepreneurs is an incredible as- set to Egypt, already contributing £25 billion to the economy, and this sector has huge potential to grow. The aim of the Hackathon is to find the most talented would- be social entrepreneurs in Egypt. “We want to hear their ideas about tackling environmental problems in new and innovative ways. We want to help them es- tablish these ideas as successful businesses. And we want to see these businesses grow, creating new jobs, attracting investment and helping Egypt flourish.” Willie Elamien, the managing di- rector of Flat6labs in Cairo said: “Flat6Labs is committed to sup- port entrepreneurship in Egypt; we’ve been doing so since 2011 and are committed to invest in 100 companies over the next five years in Egypt alone. Partnering with the UK embassy in events such as this Hackathon helps us find the future innovators who will shape the energy, recycling and sustainable farming industries.” www.gov.uk Middle East and Africa is home to several oil & gas producing countries and economies of these countries majorly depend on export revenues derived from trade of hydrocarbons.