(MENAFN- Emirates News Agency (WAM))
DUBAI, 17th March, 2019 (WAM) -- The Dubai Chamber of Commerce and Industry has published a whitepaper as a practical guide for startups navigating the UAE's funding landscape.
Allocating more investment for startup incubators and accelerators, and expanding the existing network of investors who are eager to finance new business ventures are among the key recommendations of the Dubai Chamber publication.
The whitepaper, published in collaboration with Roland Berger, also called for closer cooperation between universities, government agencies and investment funds to expand the scope of investments that can support the growth of startups in the UAE.
The findings were released during Dubai Startup Hub's Entrepreneurship Advocacy event series, which was hosted earlier today at Dubai Chamber's head office. The event, joined by banking and finance leaders, industry experts and entrepreneurs, shed light on the key funding challenges faced by startups in the UAE, building on a previous whitepaper released last year which focused on obstacles associated with opening a bank account in the country.
Results of the whitepaper were based on the feedback and insights provided by banks, startups, venture capital firms, angel investors, incubators, accelerates and government entities in the UAE that were surveyed.
Navigating the complex local funding ecosystem, high hurdle rates to qualify for capital on the equity side, and insufficient risk appetite on the debt lenders side were identified as key challenges for startups in the UAE.
The whitepaper examined common issues experienced by first-time entrepreneurs and highlighted the need for more reliable and up-to-date information on startup funding in the UAE.
WAM/MOHD AAMIR/Nour Salman
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