In the Arab world, there has never been a better time to start a technology company.
Costs are decreasing, revenue models are emerging and solidifying, and a whole new
generation of digital platforms are emerging. Furthermore, the growth of internet
usage is amongst the fastest in the world. There is great opportunity for the right
people with the right idea.
It is also a very challenging time to start a technology company. Lack of funding
is the biggest roadblock to aspiring entrepreneurs in the region. With a fairly
limited legacy of successful internet technology companies from the Arab world,
investors are understandably hesitant. Combining this lack of funding with the challenge
of finding experienced mentorship and support, new entrepreneurs face many obstacles
in making their vision a reality, and many great ideas and great talent never get
out of the starting gate.
In response to these challenges and opportunities, we launched Intilaq, an initiative
by Bayt.com to fund and support entrepreneur-technologists in early-stage technology
startups.
We are not running a competition. We are not bringing a group of ten or more groups
of founders to Dubai and running an incubator program. What we are doing is evaluating
ideas and people on an on-going basis. We are looking for the right fit between
who you are, what you want to do, who we are, and what we are able to do. If we
agree on a great fit, then we'll fund you in exchange for equity in your company.
Depending on how much progress that you have made, this could come at a seed round
or at a follow-up round.
The main benefit of partnering with Intilaq is that you can access the mentorship
and support of the experienced professionals who built Bayt.com into the successful
internet business that it is today. We have significant contacts in the industry
that will prove invaluable. Also, if you need a place to work, our offices in Dubai
Internet City can host your blood, sweat and tears.
If you have a great idea, we'd love to hear about it.
