wamda.com - 

Angel fund MVI (Mena Venture Investments) held its annual networking event this past Tuesday on May 26 at Fairmont The Palm Hotel in Jumeirah, Dubai, bringing together Wamda Capital and the startups that have received support and investment from both funds.

MVI Head of Investments Fares Ghandour kicked off the conference with an announcement that MVI intends to make this annual conference a networking opportunity for industry players, startups and investors alike.

Pitch, pitch, pitch

Twenty previously funded startups who have reached the growth stage after several funding rounds were shortlisted from 85 applicants to pitch their ventures. Startups included ArabiaWeather, Citrus TV, Compareit4me,The Entertainer, Jamalon, Kharabeesh, The Laundry Box, Liwwa, Hmizate.ma, Mumzworld, NewsGroup, Red Troops, ShopGo, SuperMama, Task Spotting, The Luxury Closet and VineLab. Each was given exactly five minutes to talk about its services and products, value proposition, where it is in its development and future plans.

Growing startups compete with large corporations

Well developed startups, with their growing number in the region, have come to be regarded as smaller versions of larger corporations, according to Ghandour and Arif Naqvi, founder and Group Chief Executive of Abraaj Group and cofounder of MENA Venture Investments. The Arab region has demonstrated a competent ability in financing, mentoring and incubating startups. Navqi added that the region has succeeding in transforming the whole industry from early stages into mature growth stages, and added that we are now in “a radical transformation that will change the world through innovation in both healthcare and the education sector."