Doha: Eighteen startup entrepreneurs from the Arab world gathered in Doha’s Renaissance Hotel on Monday to pitch their businesses to an audience of investors, mentors and entrepreneurship experts at the first Doha Venture Day.
Silatech sponsored the event, which was organised jointly with the renowned IE Business School. Over 60 early stage startups applied to the competition, and 14 finalists were selected to compete in Doha before a jury of entrepreneurs and experts for prizes totalling $25,000.
Four runners-up were also given the opportunity to present their business ideas to the audience as well. Based in Doha, Silatech is a regional social initiative focused on improving the climate for employment and entrepreneurship for young people throughout the Arab world.
Zoomal from Lebanon was chosen as the winning startup, with Crowd Analyser from the UAE and the Kuwaiti startup Kout Way placing second and third.
Doha Venture Day was launched in partnership with the IE Business School as part of their IE Venture Days series. In addition to Doha Venture Day, other IE Venture Days in 2013 have covered cities including Mexico City, Shanghai, Madrid, Lisbon, Bogota, Sao Paulo, Mumbai, and Tokyo.
The objective of the programme is to provide startup entrepreneurs with the opportunity to pitch their businesses to potential investors, and to learn from others in the process, with the potential of winning cash investments in their businesses.
According to Silatech CEO Dr Tarik M Yousef: “Events such as this provide excellent opportunities for young entrepreneurs to connect with potential investors and mentors from throughout the region. By partnering with the IE Business School for Doha Venture Day, Silatech is working to provide startup businesses with access to the finance and knowledge they need to succeed.”
The finalists selected to take part in Doha Venture Day included startup businesses from Qatar, Egypt, Kuwait, Saudi Arabia, the United Arab Emirates, Tunisia, and Lebanon.
Jury members included Ahmed Laiali (Incubation Centre Manager at ictQatar), Salem Al Kuwari (Senior Manager, Ooredoo), Nizar Jalbout (CEO, NLJ Associates), Michael Portz (Founder and CEO, The Shisha Company), Jeffrey Char (President and CEO, J-Seed Ventures), Mohammed Jaidah (Owner, Firefly Communications), Abdulsalam Abu Issa (co-owner and COO, Firefly Communications), Martin Roeske (Chief Programs Officer, Silatech), and Yousef Hammadadin (CEO, Oasis 500).
The Peninsula
