iAUBERGINE

Gossip, insights, analysis and a few selfies from MENA’s startup ecosystems.

24
Feb

There is Hope for the Future but the Road is Bumpy

Istanbul
5:45 PM

My days are filled with innovation, geeks, hope for the future and of course some tears of fear&frustration. The museum of Islamic art in Doha was therefor a humbling break… or that’s what I saw at first. With a just a little imagination you can teleport yourself back in time and it’s the same innovation, geekiness, hope for the future and tears that created all that beauty and science. We are but a blink in history – lets choose wisely how to spend our time. Qatar demonstrates again and again impressive ambition and I had the privileged of meeting several inspiring entrepreneurs at the #YMEstartup Doha on Monday. The startups pitching on stage ranged from incentivizing recycling, to barcode scanning, to savvy online services!

Some of my favourite entrepreneurs travelled to Doha and shared their stories of successes and learnings! The charming Nima, founder of PITME, who came all the way from San Francisco, showed no signs of jetlag and shared some hard truths about what is needed from MENA entrepreneurs to grow internationally. The message was loud and clear – it’s all about You as an entrepreneur – passion, stamina and the desire to walk the extra mile. I learnt a new word “coopetition”. Brilliant – cooperate with your competition. It is all about getting the job done and finding partners wherever necessary!

The seasoned Mona Ayata of Bayt.com and MumzWorld gave us perspectives on Growth. Her experience is that it’s relatively easy to start a 1m dollar business with a team of 5, the hard bit is growing that to a 100m dollar business and lots of employees. The entrepreneur needs to be a leader or at least a manager… which isn’t always the case. It is probably useful for many of us to think about organisation, culture and leadership to smoother make the transition, as well as finding a way to formulate your vision through the phases of growth... and doubt. 

Always a delight to talk to my fellow Swede Magnus Ohlson about his venture Careem. His thought process about his business is a great example of both the flexibility and clarity of vision that is needed to be a successful entrepreneur. He thought he founded a “cool tech company”, he realized after a while that Careem is an operations business and the captains (the drivers) are the main asset. Only when realizing his asset was he able to build the culture of inclusiveness, empowerment and pride that gave them their actual USP - End result is a fleet of captains that give great service. Love it!

My favourite part of the show is always the pitching. I’m a firm believer in the art of rhetoric, and as an ex-speech writer I know the importance and the challenge of delivering a crisp message that grabs your audience emotionally and intellectually. Therefor discussing pitches and story telling with such an experienced investors panel as lovely Numan Numan (MD 212 Istanbul) and brilliant Maher Hakim (serial entrepreneur and Prof. at Carnegie Mellon University) is always very rewarding. The 3 awesome entrepreneurs all displayed passion for their ventures and as always it is a challenge to show off your baby to the world and receive “constructive criticism”… The only way to get better at it is to practice. After speaking to the entrepreneurs after the show I’d say the 3 new learnings were – 1) create an emotional connection with your investors early - all cheap tricks are allowed 2) assume investors are lazy and help them understand your thinking and the opportunity with stats and graphics… 3) let them ask questions and they’ll feel smart... Go get em'

A special thank you to Swedish Ambassador Ewa Polano who amazed and entertained us with a few of all the innovations that has through the centuries come from Sweden – the zipper, the safety belt and Mindcraft to mention a few. Makes me proud that there is a lot of exciting Swedish-Qatari initiatives to promote the startup ecosystem. 

Thank you to WISE, Qatar Business Incubation Centre, Ericsson, Nasdaq, 7ayak Hub, QatarLiving, DohaTweetups, Women Investing in Women, Girls in Tech, PITME, TechWadi for believing in us and making the Doha event a success.

Check out the twitter and Insta action on #YMEstartup

I’m in Istanbul today reflecting on yesterday. Took a 3.50am flight this morning. I’m very happy with the show and the turn-out and the atmosphere. Admittedly I’m super tired too and now heading for a French dinner with dear friend and inspiring hotel entrepreneur Alex Varlik (www.georges.com) and my guess is that this Cinderella will be sleeping before midnight. Whoop Whoop.

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