It’s a fairly simple question, but the answer often is not.
If you’re looking for investment, it’s critical to get advice from mentors, other entrepreneurs who have received investment, or venture capitalists themselves to hone your pitch and make your company more attractive.
At our Mix n’ Mentor (MnM) events, in Amman, Beirut, and Dubai this month, participants have the opportunity to meet with mentors, investors, and potential partners in a more personal setting. Though registration is now closed, we will be hosting MnM events in other cities across the region soon.
This week we announced the most active VC’s in the Arab world, revealing their average investment sizes, stage of investment, and interests. Whether or not your startup meets their criteria, you may be able to find investment by having a particularly innovative or niche idea.
At the Abu Dhabi Media Summit last month, Ihsan Jawad of Honeybee Tech Ventures and founder of Zawya, explained the importance of finding a niche and being flexible with market changes and new consumer demands. This flexibility, and the realization that you may have to tweak your idea to draw investors, is a big challenge for many entrepreneurs who hold tight to their product and refuse to continue innovating and rethinking their brand.
This mentality can prevent your business from moving to the next level. Perhaps it is time to seriously ask yourself the question, what are investors truly looking for?
Find an investor who invests in businesses similar to yours and research how each investment came about. If you know which investors are the best fit for your startup, you can begin to tailor your product to be more in line with their requirements, or pitch them on why the product has a great market fit, and you may just receive their next major round of investment.