“We’re all entrepreneurs in our bubbles building our own little businesses thinking we are at the center of the world… it’s not often we get a chance to re-connect as people for two days.”
~Elissa Freiha on Step Conference
Show Takeaways:
On how the MENA startup ecosystem has evolved over the last few years…
Angel groups and accelerators have greatly evolved from what they were before; investors are more active with startups and the market education has occurred. We have moved beyond some of the initial just ‘talk’ around investments and the overall scene is more active.
On where the MENA startup ecosystem is heading next…
The next step is focus – early on we saw a lot more ideation, but now it’s about creation and implementation of strategy. Lead angels of years ago are now heading VCs and we have more niche/industry focused approaches towards portfolios. Rather than external consultants assisting the ecosystem, entrepreneurs are starting to give back
On how Angel Investors in the region can improve…
Angel investors need to learn to trust the entrepreneurs, trust the ecosystem and community around them. New investors aren’t comfortable investing after 20 minute coffees and funding rounds at Seed and Series A can take up to two years. So there needs to be faster turn around and they need to be more active.
On the Step Conference…
Step is about the community and connecting with other entrepreneurs and the overall MENA startup ecosystem coming together.
Check out more episodes from the 2018 Step Conference Series and learn more about Womena.
