The Dubai chapter of The Indus Entrepreneurs (TiE) is giving female entrepreneurs in Lebanon and the MENA region the chance to enter a competition with a prize money pool of $100,000. As well as the possibility of earning financial support, entrants will gain from capacity building, increased networking, knowledge-sharing and visibility. By joining the TiE Women initiative, TiE Dubai is aiming to provide budding female entrepreneurs in the region a platform to collaborate and showcase their business potential.
“According to research reports, just one in seven investments in the Arab World go into female founded businesses, we all recognise the challenges women face when accessing funding and financial support,” Ziad Matar, President of the Dubai Chapter of TiE, said. “By bringing together a global network of entrepreneurs, investors, mentors and a prize money pool of $100,000, we will provide a unique launch pad for the winners. We look forward to seeing healthy competition and rewarding exceptional women leaders.”
Ziad Matar, President of the Dubai Chapter of TiE
The President of the Dubai Chapter touched on the region’s untapped potential too. Matar also said helping and rewarding aspiring female leaders is a way of guaranteeing “global economic gains and a competitive knowledge economy,” which is part of the UAE’s 2021 Vision.
The project by TiE Women, a global enterprise dedicated to “embracing, engaging and empowering” women entrepreneurs across the globe, starts with a series of chapter-level start-up support programmes for Women Entrepreneurs. This will lead to a regional Women 2020 pitch competition, which offers early and late stage female entrepreneurs an opportunity to sell their business idea.
Some 20 businesses will be shortlisted to participate in the live online pitch, with a panel of independent jury members comprising of successful entrepreneurs, investors, corporate honchos and exceptional female leaders choosing the winners. Three shortlisted businesses will also be nominated in September for an accelerator programme to be run locally for three months, where each business entity will receive personalised coaching and mentorship from renowned and experienced mentors.
And as long as you come armed with an interesting business idea, irrespective of the size, origin, interests, standing and background of the enterprise, and match entry criteria, you can be eligible to participate in the next step, the Grand Finale Pitch. Finalists from each chapter will participate in the final global event in Dubai in December 2020, with a chance to win valuable prizes and support from mentors and investors.
Nominations are open for registered businesses founded or led by women across the MENA region until August 1, 2020. Participants can submit their nomination online on https://bit.ly/2Xj62AI . To be accepted, participating startups can apply for the early stage or late stage category and need to be established for seven years or less.
For more details on how to apply, visit https://dubai.tie.org/programs/womenentrepreneurs/
Did you know?
The largest gender gap in established business ownership is found in the MENA at over 40 percent, according to The Global Entrepreneurship Monitor Women Entrepreneurship Report 2018/2019 However, the report also states the highest rates of women’s entrepreneurial intentions were reported in the MENA at 36.6 per cent, highlighting a trend of younger women founding companies in countries like the UAE and Saudi Arabia amongst others. Additionally, the MENA region shows the largest increases in women’s requirement motives for entrepreneurship at 35 percent.
