By AG Reporter / Arabian Gazette
The Middle East’s start-up ecosystem is booming, and the UAE has retained the major share (70 per cent) of investments followed by Saudi Arabia and Lebanon with 9 per cent and 7 per cent, respectively, making the emirate the most promising investment hub in the region.
“Start-ups and SMEs have become the heart and soul of the country. As such it is important that they are offered the right platforms to showcase their products and services, whilst gain the right funds,” said Vinayak Mahtani, Member of Entrepreneurs Organisation (EO).
To ensure start-ups and SMEs connect with their target market and investors, Entrepreneurs Organisation (EO) recently hosted an initiative called ‘Falcons Nest’ where three EO Accelerators pitched to three Falcons (EO members) and one external PE investor.
While the forum served as a strategic platform for EO accelerators to secure funding, it also prepared and trained Accelerators on how to stand up and tell their businesses story in front of investors and strangers and helped them dive deep into their business with the questions that have been asked by the falcons.
The event followed a Shark Tank style format, and the three fledglings – a payroll business, b2b fashion platform and a fruits delivery business successfully pitched and received interest from the falcons, in addition to securing finance.
“Attracting investors is vital for a start-up as they help it with the finance needed to get the product in the market. By offering beyond the traditional methods of business financing, Falcons Nest provided accelerators access to capital which better suits the needs of their business and growth plans,” added Vinayak.