TiE Dubai offers $100,000 to winning startup
TiE Dubai, a chapter of The Indus Entrepreneurs (TiE), announced the launch of a regional Women 2020 pitch competition as part of its participation in TiE Women, the global initiative dedicated to empowering women entrepreneurs across the globe.
Through the initiative, TiE Dubai will provide women entrepreneurs in the Middle East and North Africa (Mena) region with a platform to collaborate and showcase their business potential. It features a series of startup support programmes for women entrepreneurs, culminating into the competition.
Finalists will be invited to attend the Women 2020 finals in Dubai and have an opportunity to be part of the Grand Finale Pitch with a chance to win $100,000 as well as other prizes, in addition to investor support.
“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,” said Ziad Matar, president of TiE Dubai.
The Global Entrepreneurship Monitor (GEM) Women Entrepreneurship Report 2018/2019 states that the largest gender gap in established business ownership is found in Mena at over 40 per cent. However, the report states that the highest rates of women’s entrepreneurial intentions were reported in Mena at 36.6 per cent, highlighting a trend of younger women founding companies in countries like the UAE and Saudi Arabia.
“There is so much untapped potential in the Arab World and by empowering women to go into business and rewarding aspiring female leaders, we will ensure global economic gains and a competitive knowledge economy in line with UAE’s 2021 Vision,” added Matar. “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.”
The TiE Women initiative is open to registered businesses founded or led by women across Mena region. Participants can submit their nomination online from 1 June to 1 August 2020 on https://bit.ly/2Xj62AI. Twenty businesses will be shortlisted to participate in online pitch in August and three of them will be shortlisted in September for an accelerator program to be run locally for three months. The finalist will participate in the final global event in December 2020.