Friday 21 June 2024

Women entrepreneurs invited to take part in TiE MENA contest

RIYADH, May 15, 2024

The Dubai chapter of The Indus Entrepreneurs (TiE) has invited women entrepreneurs to take part in a competition as part of the fifth annual TiE Women MENA Program 2024, an initiative designed to empower women entrepreneurs across the MENA region.

The programme expands its reach to include five categories UAE, Emirati, the Kingdom of Saudi Arabia, Egypt, and the rest of the Middle East, and aims at fostering gender parity in entrepreneurship in line with government efforts.

Applications are open until June 1, 2024 for the competition that will be judged by a jury comprising TiE Dubai Charter members, and who will select finalists who presented top innovative ideas from each of the five categories.

The finalists will showcase their ventures in five rigorous pitch competitions. The winners of these competitions prepare for the MENA finals, previously hosted at the North Star Expand at Gitex.

At every stage, the programme will include mentorship sessions with renowned and experienced industry leaders, financial advisory services, strategy coaching, workshops on practical business planning, an online global accelerator program and tips to nail the perfect investor pitch.

The competition will conclude with the Global Finals in December 2024.

World Bank stated that women entrepreneurs had equal access to finance, and the growth of the companies could generate a $5-6 trillion expansion in global GDP.

Additionally, nearly half of the women in the UAE alone face significant barriers in accessing capital, with eight out of 10 women tapping into their personal savings.

This highlights the essential role of initiatives like The TiE Women MENA Program, which offers funding, mentorship, and community support for entrepreneurs of all industries.

Rohit Dev, President at TiE Dubai, said: "Through time, entrepreneurs have been the biggest changemakers and have contributed tirelessly to the world economy, progress, and human sustenance.

“Despite this, women-led businesses in the region make up less than 5% of all businesses and 2023 saw a significant drop in fund-raising for these companies. For over 21 years, TiE has promoted entrepreneurship in the UAE, and since 2020, its TiE Women MENA initiative has been empowering female entrepreneurs.

“Supporting regional governments' mission to increase female business owners, we aim to equip women founders with the tools, knowledge, and networks necessary to thrive in today’s competitive business environment."

The program seeks to create equal opportunities for women entrepreneurs to excel and contribute significantly to their economies. This year's theme continues to highlight the role of women in business, with a focus on nurturing their skills through a structured framework.

Participating startups undergo several stages of development, from initial application, through intensive 1:1 mentorship, to pitching their ideas in front of a seasoned panel of judges at the MENA and Global finals.

Being a mission-driven organisation TiE Women MENA Program 2024 works with over 15 accelerators, incubators, VC funds, and members of the angel investor community in the startup ecosystem to harness each other’s strength and specialities to uplift women entrepreneurs. Some partners include in5, DBWC, Flat6labs (MENA), Plug and Play, StartAD, Wamda, Female Angels 2022, AngelSpark, Astrolabs (Saudi), LIVINC (Jordan), Women Spark (Saudi).

Global and regional winners will receive prizes and recognition for their accomplishments.

Women founders or co-founders from any industry who hold at least 33% equity, either individually or jointly, in businesses up to seven years old that operate from or for the MENA region are encouraged to apply. – TradeArabia News Service




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