Knowing the biggest risks that commonly cause new startups to fail could determine whether your business sinks or swims. Recent studies have found that almost half of startup failures are due to a lack of financing.
The UAE’ startup ecosystem has experienced rapid growth in recent years, attracting investments and talent worldwide. In 2022, the UAE attracted $1.4 billion in venture capital funding, according to Magnitt.
The country’s government has played a key role in fostering the startup ecosystem through various initiatives, such as providing funding, mentorship, and access to markets.
But capital issues persist, considering fears of a potential recession and geopolitical tensions, among other factors.
To help startups looking to take the leap and launch, Oraseya Capital, a new $136 million venture capital (VC) fund, was launched by Dubai Integrated Economic Zones Authority (DIEZ), a group of free zones that includes Dubai Airport, Silicon Oasis, and CommerCity.
Announcing the new fund at the Dubai Business Forum, Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said, “Our aim is to see these startups join the esteemed ranks of ‘unicorn’ companies, beginning their journey right here in the emirate, a key player in shaping the global economy,”
The new venture capital fund launched in Dubai will assist startups from the pre-seed stage, ensuring they have the resources and guidance they need from the start to the Series B investment phase.
Mohammed Alzarooni, executive chairman of DIEZ, said Oraseya Capital is laser-focused on investing in startups with the potential to revolutionize the advanced technology sectors.
“The VC fund’s primary focus lies in the strategic investment of startups exhibiting substantial growth potential. Our goal is to empower entrepreneurs from various corners of the world to nurture and establish innovative enterprises,” he added.
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