The Dubai chapter of The Indus Entrepreneurs (TiE) has announced the launch of the fifth edition of the TiE Women MENA Program 2024. The initiative is aimed at supporting and elevating women entrepreneurs across the MENA region.
TiE shared that nearly half of the women in the UAE alone face significant barriers in accessing capital, with eight out of ten women tapping into their personal savings, underlining the key role of the program in providing funding, mentorship, and community support for women entrepreneurs.
The application phase is open until June 1st, 2024, after which there will be several rounds of screening, with an unbiased jury with TiE Dubai Charter members selecting the top innovative ideas from each of the five categories.
Finalists will then showcase their ventures in five rigorous pitch competitions. The winners of these competitions prep for the MENA finals, previously hosted at the North Star Expand at GITEX.
The program, at each stage, offers mentorship sessions with industry leaders, financial advisory services, strategy coaching, workshops on practical business planning, an online global accelerator program and tips on investor pitching.
The competition will conclude with the Global Finals in December 2024.
Rohit Dev, President at TiE Dubai, commented: “Through time, entrepreneurs have been the biggest changemakers and have contributed tirelessly to the world economy, progress, and human sustenance. Despite this, women-led businesses in the region make up less than 5% of all businesses, and 2023 saw a significant drop in fund-raising for these companies.”
Adding: “For over 21 years, TiE has promoted entrepreneurship in the UAE, and since 2020, its TiE Women MENA initiative has been empowering female entrepreneurs. Supporting regional governments’ mission to increase female business owners, we aim to equip women founders with the tools, knowledge, and networks necessary to thrive in today’s competitive business environment.”
TiE Women MENA Program 2024 works with over 15 accelerators, incubators, VC funds, and members of the angel investor community in the startup ecosystem. Partners include in5, DBWC, Flat6labs (MENA), Plug and Play, StartAD, Wamda, Female Angels 2022, AngelSpark, Astrolabs (Saudi), LIVINC (Jordan), Women Spark (Saudi).
Global and regional winners will receive prizes and recognition for their accomplishments.
It was shared that women founders or co-founders from any industry who hold at least 33 per cent equity, either individually or jointly, in businesses up to seven years old that operate from or for the MENA region are encouraged to apply.