VCs see Egypt, Saudi Arabia as the next big hubs in the Middle East’s startup scene: Venture capitalists believe Egypt and Saudi Arabia have a promising future in the region’s start-up scene and are advising investors to keep a close eye on them, the National reports. Speaking at the London Business School Middle East Conference, founding partner and CEO of Saudi-based Raed Ventures Omar Almajdouie said that while the UAE maintains its position as the region’s current entrepreneurial hub, Egypt and Saudi Arabia will be the focal points of the next wave of big startups in the region. “[Egypt and Saudi Arabia] will be the biggest inception point of the next wave of startups in the region. Not medium or small-scale startups, the big startups like Careem,” he said, citing Cairo-based Swvl as an example.

Speaking of tech: Silicon Valley will lose ground over the next four years to rival power centers including New York, Boston, Beijing and London, according to a KPMG study. The shift comes as each of these cities makes a conscious investment to become tech innovation hubs — and partly because we live in an “always-on, constantly connected world” in which geography is less important, the Wall Street Journal writes.