The first webinar by Dubai Startup Hub in its Banking and Finance Startup series saw the engagement of more than 100 participants from the UAE and abroad.
The online platform is an initiative of the Dubai Chamber of Commerce and Industry and was launched in 2016 with an aim to advocate entrepreneurship. The webinar is a part of this effort.
This particular series will help participants to learn the ways to address the challenges posed by COVID-19 practically. It engages the members of the working group including public and private sector stakeholders by addressing the challenges faced by entrepreneurs, startups and SME’s, in Dubai, especially in Banking.
The session was attended by RAKBANK, which is a member of the working group led by the Dubai Chamber, on SME banking and was represented by Dhiraj Kunwar. He is the Managing Director of the bank’s Business Banking.
He spoke at length about the challenges brought about by the global pandemic and the solutions they can opt for. The changing outlook of entrepreneurs in Dubai and the evolving financial landscape of the country was discussed.
“As the leading SME bank in the country, we recognize the importance of creating an ecosystem and environment to support start-ups and SME’s during these trying times through the launch of several initiatives. The webinar hosted by Dubai Chamber is the perfect platform t aid small businesses by raising awareness on the secure and seamless digital solutions, financial relief packages and services available for business customers. our aim at this moment is to assist SMEs during this health crisis by providing the right solutions that help them run their operations efficiently to withstand the storm.”
The Manager of Entrepreneurship at Dubai Chamber, Natalia Sycheva, who also spoke at the webinar was of the opinion that the reason why the session went beyond discussing just the issue of opening a bank account is because of the technology startups are currently facing very different challenges and requirements. She focused on the issue of funding startups in Dubai.
She urged the startups to utilize their time wisely and work on revising business models, improving investor pitches, connecting with people digitally, networking to connect with possible investors and peer entrepreneurs.
Sycheva also discussed the Dubai Startup Hub’ s Panorama which is a guide with useful tips and knowledge for startups. The guide covers the fundraising journey for a startup from pre-seed to seed capital, incubators and accelerators, angel investors, venture capital, crowdfunding and initial public offerings (IPOs).
More such sessions are planned for the month of June when top startups that are engaged in funding businesses will speak as guest speakers.
The platform was launched for the benefit of startups, entrepreneurs, venture capitalists, developers and students to gain access to a multi-program platform to explore the global business world. They also provide services and programs like Market Access Program, Emirati Development Program, Dubai Smartpreneur Competition and Co-Founder Dubai Program to name a few.