FasterCapital, a Dubai-based online incubator and accelerator, is launching a cohort for women entrepreneurs.
Recent statistics reveal that as of 2021 36% of small businesses are owned by women and this number is gradually increasing year after year.
Despite the challenges they face, nearly 90% of women-owned businesses worldwide are up and running and generating profits.
The situation in the Middle East in terms of female entrepreneurship is different from that of other countries in the world, where only 10% of companies are owned by women.
In this cohort, FasterCapital helps founding women in different aspects of their business start-up or business growth journeys.
The cohort is launched in June 2021 and is an annual initiative for women founders. Check out the programs website.
Technical support for women founders
Through the Tech Cofounder program, FasterCapital will provide all the technical support you need to start your business or build your product.
Technology is an essential component of business today and a strong product is what makes a brand strong.
Many women start businesses mostly in the areas of education, food, fashion, retail, and it is important to find strong technical teams to complement and translate these products into the current language.
Capital raising for women entrepreneurs
Securing the necessary capital is a very crucial step in starting or growing any business, and women-run businesses are no different.
But statistics show that women founders find it much harder to secure the money they need than male founders.
For this cohort of innovative entrepreneurs, FasterCapital will match companies with a network of angel investors, venture capital and other sources of funding.
Many women, at MENA and elsewhere, already have innovative and brilliant ideas, but most end up giving up on these potential innovative businesses.
This is mainly due to the lack of necessary capital and the lack of adequate network or resources.
FasterCapital supports all stages of companies and firms in different industries.
Growing and introducing new markets for experienced women founders
For women who have already started and established their businesses, joining this cohort will help them grow their business even further and explore new markets and potentials.
Sales, marketing, scale, partnerships and many other growth strategies are discussed and used to take your business to the next level.
This will be useful for women entrepreneurs trying to grow and enter the MENA market and for women in the MENA market trying to reach new global markets.
The future of female entrepreneurship
Although globally it is noted that the future is bright for working women and that much progress has been made.
However, in the way of bridging the gender gap in entrepreneurial areas, we must recognize that there is still much to be done for women in different parts of the world.
Women entrepreneurs have a lot of tools now, but in markets like MENA, Africa and others, we need to allow them to grab those tools and build their businesses.
To support and encourage women to leave their own conventional duties and to enter this foreign territory.
This should be combined with the creation of an inclusive and supportive environment. It is what we can do in resentment to ensure a truly bright future.
Entrepreneurial woman in the MENA market
Entering this massive male-dominated ecosystem is extremely difficult for women in the MENA markets, but it is not impossible.
That’s why women like Helen Al Uzaizi – CEO of BizWorld, Mona Ataya – Founder and CEO of Mumzworld, Sahiqa Bennett – CEO and co-founder of Searchie and Briar Prestidge – Founder and CEO of Prestidge Group PR have been able to work their way up and set an example.
It is also worth noting that many women in the Middle East are looking at international companies and are nailing it.
Hesham Zreik, CEO of FasterCapital, comments: “By creating this cohort of women entrepreneurs, we hope to enable innovative and dedicated women to take the necessary steps to start and grow their empires.”
Entrepreneurial woman and COVID
The increase in COVID-19 had posed many additional challenges to working women.
During the shutdown, most retail companies, which are primarily the market niche of many women entrepreneurs, experienced major setbacks.
The focus on technology and online businesses caused more harm to many women entrepreneurs. That’s why we believe that enabling women to use technology and start businesses with technology is a goal in itself.
Strengths of women leaders in companies
Women have their own superpowers that have helped them and that will help them become successful business leaders.
Susan Wojcicki, CEO of YouTube, Whitney Wolfe Herd, CEO of Bumble, and Mary Barra, CEO of General Motors, are just a few examples of successful female executives in different industries.
High emotional intelligence is an asset that helps women successfully manage and lead teams and mediate their business goals in the language and understanding of their crew.
Many women entrepreneurs have an inner motivation. They have a vision that they would like to see achieved. Most are not as motivated by economic gain as their male counterparts are.
This constant and strong motivation is a very powerful engine that makes many women-led companies grow.
Join the female cohort and unleash your superpowers now.