Hasan Algarhy, founder and CEO of Duverse, is driving innovation in the smart cities space through cutting-edge technologies such as AI, VR, AR, and Digital Twins. With a mission to redefine how cities are designed and developed, Duverse aims to create human-centric urban environments that adhere to ESG principles while boosting efficiency and sustainability. Founded in 2022 and based in Dubai, the company has already gained traction, leveraging Dubai’s dynamic startup ecosystem to scale its operations and enhance its solutions.
Algarhy’s decision to venture into the startup world was rooted in a desire to create a tangible impact on urban development, addressing challenges related to well-being, sustainability, and environmental degradation. His leadership has positioned Duverse as a key player in digital transformation for urban planners, government organisations, and companies striving to meet sustainability targets.
In an interview with Finance Middle East, Algarhy discusses his journey, the challenges of raising capital in a competitive startup environment, and how Dubai’s entrepreneurial landscape is helping Duverse scale. With ambitions to become one of the region’s next unicorns, Duverse is poised to play a critical role in the future of smart, sustainable cities across the Middle East and beyond.
What drove you to join the startup world?
To create real, tangible impact. We recognised that the way cities are currently designed and built has profound effects on people’s mental and physical well-being, in addition to environmental and ecosystem degradation. Our goal was to change that by leveraging emerging technologies to create smarter, more sustainable urban environments.
Why did you choose the Middle East as the place to start/expand the business?
The Middle East is one of the most promising regions globally, with giga projects, strong infrastructure, a young and dynamic workforce, and ambitious national visions. This thriving ecosystem empowers entrepreneurs to grow and scale, making it an ideal place for innovation-led businesses like ours.
How would you describe the region’s startup scene in three words?
Promising, Ambitious, Inspiring.
Is there something that has surprised you in your journey?
While I already had a positive impression of Dubai’s startup ecosystem, the level of support and the number of initiatives dedicated to fostering entrepreneurship exceeded my expectations. Government-backed accelerators, such as the Mohammed Bin Rashid Innovation Fund (MBRIF) and other local programs, provide invaluable resources that help startups gain credibility and expand their reach. Additionally, being based in Dubai has significantly strengthened our brand recognition when engaging with international clients.
What are the keys to approaching investors successfully?
Having a viable, scalable solution that addresses a real problem affecting a large sector is crucial. Beyond that, adaptability and persistence play a key role. Investors need to see a clear roadmap for long-term commercial growth backed by a strong team and a well-defined business model.
What was the most challenging part of raising funding, and how did you overcome it?
With an overwhelming number of startups vying for funding and a relatively limited number of VCs in the region, capturing investor attention is a significant challenge. We overcame this by strengthening our brand, securing recognition from prestigious entities, and demonstrating a sophisticated understanding of our business model. Programs like MBRIF have been instrumental in connecting us with key stakeholders, further helping us navigate the fundraising landscape.
What is the best piece of financial advice you have received?
Understanding your “Price/Quantity model” using a bottom-up approach rather than a top-down one. This helps define the realistic market size and potential market share, giving investors confidence in your projections.
What has been your biggest success and your biggest failure?
Success: One of my proudest achievements has been the exceptional recognition from the Dubai government, including being selected by the UAE Ministry of Economy as a Future 100 company contributing to the UAE’s future economy. Additionally, being chosen by MBRIF and DIFC Innovation Accelerator underscores the credibility and potential of our solutions.
Failure: Early in our journey in 2022, we aimed to introduce multiple emerging technologies across various sectors. However, the market wasn’t fully ready for all our offerings, forcing us to pivot and focus on a specific sector. This adaptability ultimately strengthened our value proposition.
What is the best quality a leader can have?
Persistence and adaptability—being able to navigate challenges while staying committed to a long-term vision.
Where would you like to be in five years’ time?
Our vision is to become one of the region’s next unicorns, originating from Dubai. While our primary focus remains on creating meaningful impact and solving industry challenges, we believe that with the right support and investment, our solutions will position us as an internationally recognised technology company.
