Dubai- UAE, April 17, 2018: Forbes Middle East, official magazine partner at the AIM Startup 2018, concluded a strategic panel discussion on how technology entrepreneurs are making an impact socially. Moderated by Ahmed Abdulwahab, Senior Advisor at Forbes Middle East the three panelists discussed examples of startups creating social impact in today’s scenario.
Ahmed Abdulwahab stated, “Countries like UAE are not only focused on creating an impact socially, but also how they can create impact on human lives. This will have a significant social impact in long term globally.”
The panelists included Aya Sadder, Incubator Manager at Intelak, Ganesh Rangaswamy, Partner at Quona Capital and Manish Kumar, Founder of Grex shared insights and their criteria before they select startups, challenges faced by entrepreneurs in the current scenario.
Aya Sadder, Incubator Manager at Intelak, an incubator led by Emirates Group, GE and Dubai Tourism and focuses Travel and Aviation discussed how startups can be motivated to focus more on a long term social impact along with aim of attracting investments. Highlighting on impact investing, she added, “Education infrastructure for investors and masses need to include knowledge around impact investments and how it can be beneficial in the long term for the society.”
Talking about supporting the startups with social impact, Ganesh Rangaswamy, Partner at Quona Capital, the first global fintech fund which is focused on making social impact to unserved and underserved segments of society across emerging markets, said, “It is very important for entrepreneurs to grow and mature along with their startups. We have seen exponential growth in startups but then entrepreneurs don’t know how to manage the business because they have not operated on that scale. Businesses should find creative solutions along with an end-to-end execution plan that will help them grow along with the companies. Opportunities in most of our focused markets are massive because our target audience have typically been ignored by formal institutions.”
Manish Kumar, Founder of Grex, a private market platform for unlisted companies that provides them access to multiple financial products and raise capital, discussed the challenges entrepreneurs are facing in the current fast paced scenario. Talking about the challenges he learnt, “There are a lot of startups who approach us without any knowledge of the application process and some of the challenges social projects face until they become sustainable business is the connect between incubators and the business teams.”
The panel was concluded by Q&A session with the audience and these industry experts sharing advice on how to be accessible.
About Forbes Middle East
Forbes Middle East is a licensee of Forbes Media and extends the Forbes brand of journalism across the Arab world. Forbes Middle East’s distinctive editorial style attracts a readership of Arab leaders, entrepreneurs, C-level executives, government officials and investors united by a belief in the spirit of free enterprise and entrepreneurial values.
Across the region, Forbes Middle East sets the pace for preemptive business journalism. By uncovering trends and anticipating opportunities in the regional marketplace, each monthly issue brings top executives the information critical to their success – in both Arabic and English language editions.
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