What are the most significant changes you’ve observed in the Middle Eastern entrepreneurial ecosystem for women in recent years?
In my short time here in the UAE, I’ve witnessed firsthand the remarkable energy and drive of women entrepreneurs. The country’s open and accepting culture provides a powerful platform for women to thrive and build successful businesses, a significant shift I’ve observed in the Middle Eastern ecosystem. The energy is inspiring. The inspiring energy is undeniable.

What are the most persistent challenges that women entrepreneurs in the Middle East still face, particularly regarding access to funding and networking opportunities?
While progress is being made, the limited representation of women at key events, like the recent Dubai conference I attended, remains a significant hurdle. Seeing only one woman speaker made it clear that more platforms are needed to amplify women’s entrepreneurial stories. This lack of visibility restricts access to crucial networking and funding connections.

How do you perceive the role of government initiatives and private sector support in fostering women’s entrepreneurship in your country or region?
While I acknowledge the government’s strong support for entrepreneurship overall, I believe there’s a missed opportunity to specifically elevate women entrepreneurs. The current initiatives, though beneficial, lack the targeted focus needed to truly highlight and advance women’s contributions in this space.

Who are the women who have most inspired you on your entrepreneurial journey, and what lessons have you learned from them?
Sara Blakely, the founder of Spanx, has been a constant source of inspiration, particularly her resilience and innovative spirit. Additionally, Taylor Swift’s dedication to her community and the sheer scale and impact of her Eras tour have taught me the power of building a strong connection with your audience and the importance of unwavering dedication.

How do you believe we can best celebrate and amplify the achievements of women entrepreneurs in the Middle East, not just on International Women’s Day, but throughout the year?
For me, celebrating women is a daily commitment, not just a yearly event. To truly amplify their achievements in the Middle East, we need to foster a culture of self-reliance. Empowering more women to start their own businesses is, in my view, the most impactful way to achieve this throughout the year.

What advice would you give to young women in the Middle East who aspire to start their own businesses, especially in light of the evolving socio-economic landscape?
My strongest advice is to take initiative and build your own path. Don’t wait for anyone’s approval. Leverage the resources at your fingertips—like a laptop and internet, as I detail in my book ‘Wealthy Moves‘—to create your own financial independence. The time is now for women in the Middle East to claim their economic power.

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What does London Business School have to offer to budding entrepreneurs in the Middle East?
LBS started its entrepreneurial focus exactly 25 years ago, so we do have experience in the field. We have a great team of faculty doing research and advancing knowledge on topics like early-stage funding, female entrepreneurs, issues on founding teams, corporate venture capital, crowdfunding or accelerators, to mention a few. We have over 20 courses related to entrepreneurship and private capital. Finally, we have an incubator supporting new ventures for over a decade in London. All that is what we bring to the table with our presence in Dubai. All that experience and lots of excitement is what we bring to the region

How is entrepreneurship different than doing a business?
In a regular business, the managers have access to resources. In entrepreneurship, first, you identify an opportunity, solve a problem or make things easier for the consumer. Then you have to evaluate and execute without controlling the resources. Lack of resources is a big difference. It means you have to convince people to join you and follow your dream and also to fundraise when you don’t have any track record yet.

What do students learn differently in entrepreneurship stream than a MBA stream?
They learn about opportunity identification, validation, testing, lean startup and early-stage funding. They also learn about the issues encountered by entrepreneurship founders, how to manage high growth and, if their focus is sustainability or social ventures, how to move forward. Finally, it is not only about starting a business. It is about the entrepreneurial mindset that can be applied in any business or organisation. This is very important. It relates to the way employees in organisations look at challenges, at the future and use creativity to make this world a bit better.

What are your thoughts about the startup ecosystem in the Middle East?
The startup ecosystem as well as the venture ecosystem in ME is boiling. You can feel the energy, the alignment of the different components. There is so much potential, but there are challenges. For example, it is difficult for startup founders to recruit people, as there are many opportunities in the normal business world. Additionally, the ecosystem is young, and there is still a lack of exits and role models. But it is happening as we speak. I am very bullish on the startup ecosystem in ME. This is why LBS presence in the region has a focus on the entrepreneurial ecosystem, and we are now launching a ME LBS Business Angels (MELBA) group and a startup competition (2nd edition, October 2023 for the finals), to be a key player and support both those that are starting up and fundraising and need tools and knowledge and those that want to invest in startups in the region.

Raising money remains a biggest task for startups, in your view, what steps startups should take before venturing out for funding, especially in the initial stage?
Get feedback from customers and from potential investors. Talk to everyone you can and try to test your assumptions asap. You have an idea, and a plan, but having some metrics that prove the willingness to pay for your product or service, having some customers or a big company already testing it, helps a lot to understand better your value proposition and to convince potential investors.

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