The Dubai Chamber of Commerce and Industry has recently released a whitepaper outlining solutions for key funding related challenges faced by start-ups in the UAE.
The whitepaper, published in collaboration with Roland Berger, addresses topics including, navigating the funding landscape in the UAE, allocating more investment for start-up incubators and accelerators and expanding the existing network of investors who are eager to finance new business ventures. It also stressed on the need for closer cooperation between universities, government agencies and investment funds to expand the scope of investments for start-ups.
According to the findings in the whitepaper, investors have an appetite for only a limited number of business models, technologies and sectors. In some cases, investors also take a “wait and see” approach before committing capital. In addition, many banks still require start-ups to have an established company track record of at least three years before they can qualify for funding.
The whitepaper recommends a shift in focus to elevating and deepening the ecosystem to the next level by building deep sector and technology specific ecosystems and fostering cooperation between universities, government institutions and funds.
Words by Katie Streten Experiential Strategy Director, VMLY&R COMMERCE Throughout the last year,June 13, 2021 | By Shruthi Nair
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