We’re joined by Professor Tim Minshall, a leading authority on innovation and industrial strategy, and one of the most influential voices shaping how ideas move from labs into the real economy.

Tim is a Professor of Innovation at the University of Cambridge and head of the Institute of Manufacturing there, where he has spent decades working at the intersection of research, manufacturing, entrepreneurship, and policy. His work focuses on one deceptively simple question: why do so many great ideas fail to scale—and what does it actually take to turn innovation into impact?

In this episode we unpack on why advanced manufacturing still matters deeply for economic resilience, why the UK and Europe struggle to scale technologies they invent, and what policymakers, founders, and institutions consistently misunderstand about innovation systems.

We dive into:

-Why innovation fails at the scaling stage—not the idea stage

-The missing link between research, startups, and manufacturing

-Why advanced manufacturing is a strategic asset, not a legacy industry

-University spinouts: what works, what doesn’t, and why most fail

-The difference between invention, innovation, and impact

-Why “more startups” is the wrong innovation metric

-The role of systems thinking in national competitiveness

-What policymakers get wrong about industrial strategy

-How to build innovation ecosystems that actually deliver outcomes

-Lessons from Cambridge’s innovation model—and its limits

Key Takeaways from the Episode:

 1.⁠ ⁠Innovation Is a System, Not a Moment: Breakthrough ideas mean little without manufacturing, supply chains, skills, and institutions that support scale.

 2.⁠ ⁠Scaling Is Harder Than Inventing: Most countries are good at generating ideas—but poor at turning them into globally competitive products.

 3.⁠ ⁠Manufacturing Is Where Value Is Locked In: Design, production, and integration determine who captures value—not who publishes first.

 4.⁠ ⁠Universities Are Necessary but Not Sufficient: Spinouts succeed only when they’re embedded in broader industrial and financial ecosystems.

 5.⁠ ⁠Startups Are Not the Whole Story: Large firms, supply chains, and incumbents play a critical role in diffusing innovation at scale.

 6.⁠ ⁠Industrial Strategy Is About Capability, Not Picking Winners: Governments should focus on skills, infrastructure, and coordination—not chasing the next hype cycle.

 7.⁠ ⁠Innovation Metrics Are Often Misleading: Counting patents, startups, or venture funding misses what actually drives productivity and prosperity.

 8.⁠ ⁠The UK and Europe’s Structural Challenge: Strong science bases don’t automatically translate into global industrial leadership.

 9.⁠ ⁠Systems Thinking Beats Silver Bullets: Sustainable innovation requires alignment across education, finance, industry, and policy.

10.⁠ ⁠Impact Is the Only Metric That Matters: Innovation should ultimately be judged by whether it improves lives, competitiveness, and resilience.

Timestamps:

(00:00) – Introduction to Tim Minshall and innovation systems (03:10) – Invention vs innovation vs impact (06:40) – Why most innovations fail to scale (11:30) – The role of manufacturing in capturing value (16:20) – University spinouts and the reality behind them (21:00) – Startups, incumbents, and innovation diffusion (26:10) – What policymakers misunderstand about innovation (31:40) – Industrial strategy without hype (36:20) – The UK, Europe, and global competitiveness (41:10) – Measuring innovation the right way (46:00) – Systems thinking and long-term resilience (50:30) – Final reflections on building innovation that lasts

This episode is a grounded, systems-level look at how innovation really works—beyond buzzwords, hype cycles, and startup mythology.

Follow (@iwaheedo) for more conversations on innovation, industry, and the future of economic progress.

We’re joined by Hassan Haider, founder and managing partner at Plus VC, one of the most active early-stage VCs in the Middle East and North Africa (MENA), with nearly 100 investments since 2020 and the #1 ranked venture investor in the region (according to Forbes). From pre-seed investing across MENA to the evolution of regional stock markets and secondary exits, Hassan brings a front-row view of how the region’s startup ecosystem has transformed—and where it’s headed next. As a pioneer of early angel networks and a long-time ecosystem builder in Bahrain, he breaks down what’s working, what’s not, and what founders need to thrive in MENA’s rapidly maturing tech scene. We dive into: -Why MENA is one of the best startup investment opportunities globally -What differentiates successful founders in the region -Why regional VCs avoid multi-stage plays and focus early -How to navigate regulatory setups, capital scarcity, and cross-border expansion -Exits in MENA: From secondaries to IPOs on the Saudi Exchange -What the rise of AI, crypto, and sovereign capital means for the region’s future Key Takeaways from the Episode: 1.⁠ ⁠MENA’s Startup Ecosystem Has Reached an Inflection Point: Governments, corporates, and investors are now actively building a robust tech infrastructure. Bahrain, Saudi Arabia, and the UAE are emerging as regional tech hubs with improving regulatory support and liquidity pathways. 2.⁠ ⁠Execution > Pedigree: In a region where signals like elite universities don’t always apply, Plus VC backs founders who get things done. The strongest predictor of success is a “bias towards execution,” not resumes. 3.⁠ ⁠Valuations Are Low, Returns Are High: While the total VC capital is still small compared to the West (~$3B across all of MENA), early-stage funds in the region are consistently outperforming global medians, with many aiming for 3–5x returns. 4.⁠ ⁠Secondary Exits Are Thriving: Unlike the US, where secondaries are restricted, MENA has an active secondary market. Later-stage investors often buy out seed investors, allowing early funds to lock in strong multiples well before IPO. 5.⁠ ⁠IPOs on Local Exchanges Are Growing: Saudi Arabia and the UAE are now viable IPO markets for startups, often offering better liquidity and valuation premiums than NASDAQ. Companies are lining up for public listings across the region. 6.⁠ ⁠Startups Are Expanding Globally: From food delivery startups like Kcal (Kcal Extra) to SaaS players like Gameball and Appetito, MENA-born companies are increasingly going global, not just serving the region. 7.⁠ ⁠Not Just Copycats: While some startups are local versions of global models, many others are building unique products tailored for MENA or solving global problems from within the region. 8.⁠ ⁠AI & Crypto Adoption in MENA is Growing: From Arabic LLMs like DXWand to early investments in Rain (crypto exchange backed by Coinbase), MENA is developing its own innovation layers while leveraging global open-source models. 9.⁠ ⁠Challenges Remain – Especially Capital Availability: Despite sovereign wealth, there’s still limited local LP participation in regional funds. Much capital still flows to the US or goes into traditional sectors like real estate. 10.⁠ ⁠What Makes Startups Fail in MENA: The most common reasons? Lack of execution or inability to raise follow-on funding in non-mainstream sectors. Hassan emphasizes: fundraising ≠ success—building a viable business does. Timestamps: (00:00) – Introduction to Hassan and Plus VC (01:20) – Pre-seed in MENA vs the West: Why the definitions differ (02:30) – How involved Plus VC is with 100+ portfolio companies (05:25) – What Plus VC looks for in a founder: Execution > pedigree (08:10) – Evolution of the MENA startup ecosystem over 15 years (11:20) – How exits happen: secondaries, IPOs, and growing liquidity (13:45) – Regulatory environment and setting up in the MENA region (18:10) – Are startups just Western clones or globally competitive? (19:20) – Examples of MENA startups going global (Kcal, Gameball, Appetito) (21:00) – Regional expansion and why localization matters (23:00) – Challenges: capital scarcity and early-stage risk in MENA (25:45) – Fund returns in MENA vs Silicon Valley (29:30) – Plus VC’s approach to AI startups and LLM integrations (30:15) – Open-source AI models and building Arabic LLMs (32:35) – The role of PIF, G42, and strategic AI trade deals (33:00) – Crypto ecosystem in MENA: Rain, regulation, and adoption (33:30) – 2040 vision: What MENA’s startup ecosystem will look like (34:30) – Final advice to MENA founders: focus on value creation, not hype

From the technology used to build pyramids by Ancient Egyptians to blockchain & AI today, there's tremendous continuity in how technologies developed. We're joined by Dr. Christian de Vartavan, a distinguished Egyptologist whose contributions include 10 seminal works in Egyptology and an impressive tally of 40 scientific discoveries. Beyond his expertise in Egyptology, Christian is also recognized as a technologist and an accomplished authority in blockchain and artificial intelligence who regularly advises the UK government on the strategic integration of these emerging technologies.

We have also been joined by our Empasco director, Mohammad Syed. (@MohammadSyed159)

Join us for a thought-provoking conversation that spans across epochs, connecting the wisdom of ancient civilizations with the forefront of modern technological innovation.

In this episode, we delve into:

-Christian's journey from the realms of Egyptology to the forefront of blockchain and AI

-The parallels and intersections between ancient civilizations and cutting-edge technology

-Insights into his ground-breaking scientific discoveries and their implications for the modern world

-The role of blockchain and AI in shaping the future of media, society, and beyond

-A reflection on his family's legacy of advisory roles in royal, presidential, and governmental spheres, influencing trade, business, economics, and science.

Follow our host Waheed Rahman (@iwaheedo), for more updates on tech, civilizational growth, progress studies, and emerging markets.

Here are the timestamps for the episode. On some podcast players, you should be able to click the timestamp for the episode.

(00:00) - Intro

(03:15) - Christian's background in Egyptology

(04:50) - About Christian's technological advisory role for the UK government

(06:41) - Technologies in Ancient Egypt

(10:20) - Views on the Pyramid making process

(13:01) - Controversial perspectives related to the Pyramids

(19:06) - Have we forgotten how to build a Pyramid?

(21:32) - Are we facing a modern-day puzzle with artificial intelligence, much like the ancient mysteries that confounded civilizations?

(30:24) - Do AI and blockchain technologies pose a risk of widening societal disparities? Is there a global divergence in AI approaches among countries?

(35:27) - How are we planning to enforce standards in regulating AI?

(37:53) - Amidst growing distrust in giants like Google and Facebook and a rise in anti-globalism, how does society navigate diminishing faith in both private and global institutions?

(42:06) - Considering the unmet expectations, boom-and-bust cycles, and recent downturn, what is the current assessment of the state and future direction of crypto and blockchain technology?

(51:05) - What are the scopes of these technological development related to Christian's proprietary tech at Projectus that focuses on the classification of knowledge and the philosophy of the internet?

(54:29) - How does Christian envision the future of statecraft, shaped by the concept of network states on the internet?

(60:07) - Outro