by k z | Jul 30, 2024 | Investment Analysis, Startups News
The Innovative Startups and SMEs Fund (ISSF), Jordan’s largest investment fund, has recently announced a significant increase in its investment in Oasis Ventures II (OVII). Specifically, ISSF has raised its commitment from $3 million to $5 million. This substantial move underscores ISSF’s strong belief in Oasis500’s impressive track record and its potential to further accelerate the success of startups within its portfolio.
ISSF’s Increased Investment: A Vote of Confidence
In detail, Mohammed Al Muhtaseb, CEO of ISSF, expressed his enthusiasm about the expanded investment. He stated, “Oasis500’s role in the MENA region’s early-stage investment scene is pivotal. Established in 2010 as the first accelerator, they helped ignite the Jordanian and MENA startup ecosystems.” Furthermore, he added, “Our increased commitment to OVII reflects our confidence in Oasis500’s success. By providing them with more firepower, we are doubling down on that success, so they can double down on the winners in their portfolio.”
Oasis500’s Track Record and Future Plans
Meanwhile, Luma Fawaz, CEO of Oasis500, highlighted the fruitful partnership between Oasis500 and ISSF. She noted, “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, with 36% of those led by female founders. Our economic impact is significant, having created 300 direct and 1,000 indirect jobs. Notably, for every $1 we invested, we mobilized $5 for our portfolio startups. With the additional investment from ISSF, we will double down on some of our top performers.”
The Impact on the Startup Ecosystem
Consequently, this increased investment from ISSF is expected to bolster Oasis500’s ability to support high-potential startups in the MENA region. By enhancing their resources, Oasis500 will be well-positioned to further its impact, nurturing emerging businesses and fostering innovation across the region.
In conclusion, subscribe and stay tuned for more updates on how this significant investment will shape the future of startups in MENA with our startup newsletter !
by k z | Jul 30, 2024 | Actionable Tips & Advice
Starting a business can be daunting, especially when it comes to managing finances. However, one of the key strategies to ensure the viability of your startup without overspending is to build a Minimal Viable Product (MVP). An MVP allows you to test your product idea with minimal resources, gather feedback, and iterate without a significant financial outlay. Here’s a step-by-step guide to building an MVP on a budget.
1. Define Your Core Value Proposition
First and foremost, your MVP should address the core problem your startup aims to solve. To do this effectively, focus on the essential features that deliver the highest value to your customers. Ask yourself:
- What problem does my product solve?
- Who are my target users?
- What are the must-have features?
2. Conduct Market Research
Before investing in development, it’s crucial to validate your idea through market research. Therefore, understand your target audience’s needs, preferences, and pain points. Use online surveys, social media polls, and customer interviews to gather insights.
3. Create a Prototype
Next, create a prototype, which is a simplified version of your product that demonstrates its functionality. By using wireframes and mockups, you can visualize your idea. Tools like Sketch, Figma, or Adobe XD can help you create interactive prototypes without coding.
4. Build a Landing Page
Moreover, a landing page is a cost-effective way to showcase your product and gauge interest. It should include:
- A compelling headline
- Brief description of your product
- Key features and benefits
- Call-to-action (e.g., sign up for a newsletter, request a demo)
Use tools like WordPress, Wix, or Unbounce to create a professional landing page quickly.
5. Leverage No-Code/Low-Code Platforms
In addition, no-code and low-code platforms allow you to build functional applications without extensive coding knowledge. Tools like Bubble, Adalo, and Webflow enable you to create and launch your MVP faster and cheaper than traditional development methods.
6. Outsource Development
If you need custom development, consider outsourcing to freelance developers or agencies. Platforms like Upwork, Fiverr, and Toptal can connect you with skilled professionals at competitive rates. Ensure you have clear project requirements and milestones to manage costs effectively.
7. Use Open Source and Free Tools
Furthermore, take advantage of open-source software and free tools to reduce costs. Libraries, frameworks, and CMS platforms like WordPress, React, and Django can provide robust foundations for your MVP.
8. Implement Analytics
To ensure you are making informed decisions, integrate analytics tools to track user interactions and gather data on your MVP’s performance. Google Analytics, Hotjar, and Mixpanel offer free or affordable plans for startups. Consequently, use this data to make informed decisions about future development and feature prioritization.
9. Gather Feedback and Iterate
After launching your MVP to a small group of target users, collect their feedback. Use surveys, user interviews, and in-app feedback tools to understand what works and what needs improvement. Then, iterate based on this feedback to enhance your product incrementally.
10. Promote Your MVP
Finally, use social media, blogs, and startup communities to promote your MVP. By sharing your journey, you can gather support and attract early adopters. Engage with your audience, respond to feedback, and build a community around your product.
Conclusion
In conclusion, building an MVP on a budget requires strategic planning, resourcefulness, and a focus on core features. By leveraging cost-effective tools and methodologies, you can test your startup idea, gather valuable insights, and refine your product without breaking the bank. Remember, the goal of an MVP is to learn and iterate quickly, so embrace the process and be prepared to adapt.
Stay tuned for more actionable tips and advice on launching and growing your startup. Follow us on social media and join the conversation with #Startups. Visit kzaad.com for daily updates and expert insights.
by k z | Jul 29, 2024 | Startups News
Watermelon Ecosystem, a pioneering food and beverage (F&B) startup based in the UAE, has successfully closed a $4 million Series A funding round. As a result, this investment raises Watermelon’s valuation to $29 million and grants new investors a 13.8% shareholding in the company. Key investors led the round, with Daman Investments providing essential support as the exclusive Fundraising Advisor.
A Major Milestone for Watermelon Ecosystem
This Series A funding represents a significant milestone for Watermelon Ecosystem, following a successful seed round in 2022. Moving forward, the company will use the new investment to drive growth locally and regionally. Specifically, Watermelon plans to enhance its technology, expand its market presence, and strengthen its leadership in the F&B sector.
Strategic Investment for Future Growth
To achieve its strategic goals, Watermelon will allocate the $4 million investment towards scaling operations, developing advanced technology, and broadening market reach. Consequently, this funding will boost the company’s efficiency, transparency, and sustainability, thereby solidifying its industry leadership.
Omar AlShamsi, CEO of Watermelon Ecosystem, expressed enthusiasm about this new phase of growth. “We are thrilled to have the support of our investors and advisers as we embark on the next stage of our journey,” AlShamsi said. “This investment will enable us to scale our operations, improve our product suite, and continue delivering exceptional value in the F&B sector.”
Daman Investments: A Key Player in Watermelon’s Success
Moreover, Daman Investments played a crucial role in securing this funding round as the exclusive Fundraising Advisor. Their expertise in equity and debt financing has been pivotal for Watermelon Ecosystem’s growth. Therefore, this successful collaboration highlights Daman Investments’ commitment to supporting innovation and entrepreneurship in the UAE.
A Thriving Ecosystem for Innovation
The UAE’s strong infrastructure and forward-thinking policies create a supportive environment for growth and innovation. With substantial investments in technology and a conducive business climate, the region nurtures startups like Watermelon Ecosystem. As a result, the UAE continues to strengthen its position as a hub for entrepreneurial excellence.
Looking Ahead
In conclusion, Watermelon Ecosystem’s recent funding milestone underscores its potential impact on the F&B industry. By leveraging this investment, Watermelon will expand both locally and regionally, driving innovation and contributing to the UAE’s vibrant startup landscape.
Stay tuned for more updates on startup Ecosystem’s journey and the latest developments in the MENA startup scene.
by k z | Jul 29, 2024 | Actionable Tips & Advice
In today’s competitive market, creating a compelling value proposition (VP) is crucial for distinguishing your startup and attracting customers. Your value proposition succinctly conveys why your product or service is the optimal choice, addressing customer pain points and highlighting unique benefits. Here’s a step-by-step guide to crafting a value proposition that resonates with your target audience and drives business success.
1. Understand Your Target Audience
To begin with, gaining a deep understanding of your target audience is essential. Identify their needs, preferences, and pain points. Consequently, conduct market research, surveys, and interviews to gather insights into what drives their purchasing decisions. This foundational knowledge will enable you to tailor your VP to address their specific challenges and desires effectively.
2. Define Your Unique Selling Points
Once you have a clear understanding of your audience, the next step is to identify what sets your product or service apart from the competition. Focus on the features, benefits, and unique attributes that differentiate your offering. For example, ask yourself: What problems does your product solve? How does it enhance the customer’s life or business? By concentrating on these aspects, you can highlight the most valuable elements of your offering.
3. Articulate the Benefits Clearly
In addition, your value proposition should clearly articulate the benefits of your product or service. Rather than merely listing features, emphasize the tangible outcomes and advantages that customers will experience. Use clear, concise language to explain how your offering solves their problems or fulfills their needs. Consequently, this approach helps potential customers quickly understand the value you provide.
4. Keep It Simple and Concise
Moreover, simplicity is key to an effective value proposition. Avoid jargon and overly complex language. Instead, aim for a clear, straightforward statement that is easy to remember. Ideally, your VP should be a single sentence or a short paragraph that captures the essence of your offering. The goal is to communicate value quickly and efficiently, ensuring that customers can immediately grasp the benefits.
5. Make It Credible
To build trust and credibility, ensure that your value proposition is supported by evidence. Include testimonials, case studies, or data that substantiate your claims. By demonstrating proof of your product’s effectiveness or showcasing satisfied customers, you can strengthen your VP and enhance your company’s reputation.
6. Test and Refine
Once you have crafted your value proposition, it is important to test it with your target audience. Gather feedback through surveys, focus groups, or A/B testing to evaluate how well it resonates. Based on this feedback, make necessary adjustments to improve clarity and impact. Refining your VP is an ongoing process that helps ensure it remains relevant and compelling.
7. Integrate Your VP Across Channels
Finally, ensure that your value proposition is consistently communicated across all marketing and sales channels. Your website, social media profiles, email campaigns, and promotional materials should all reflect the core message of your VP. Consistency reinforces your brand’s value and helps build a strong, cohesive image.
Conclusion
In conclusion, creating a compelling value proposition is a crucial step in building a successful startup. By understanding your audience, defining your unique selling points, and articulating clear benefits, you can craft a VP that effectively communicates the value of your offering. Remember to keep it simple, credible, and consistent across all channels. With a strong value proposition, you’ll be well-positioned to attract and retain customers, driving growth and success for your startup.
by k z | Jul 29, 2024 | Startups News
Corrsy , an EdTech startup with Finnish and Iraqi roots, has successfully raised $500,000 in a pre-seed funding round. Consequently, this investment will help Corrsy revolutionize education across the SWANA (South West Asia and North Africa) region with innovative learning solutions.
Strategic Investment
The funding round, led by EQIQ, a venture capital firm founded by Mohamed Al-Hakim, included several notable investors. For instance, Finnish EdTech angel Risto Vahanen, SuperChargers Ventures EdTech accelerator, Durubi Management Holding Company, Jordanian angel Adel Qahwaji, and Finnish investor Pekka Hermonen all participated. Their support highlights global confidence in Corrsy’s mission.
Visionary Leadership
Mustafa Salam founded Corrsy in 2019 to tackle educational challenges in Iraq and the SWANA region. Inspired by his personal experiences during the Iraq conflict, including losing his father and facing displacement, he aims to use technology to make a positive impact on education and society.
Innovative Solutions
Since its inception, Corrsy has made significant progress. In 2022, they launched the Corrsy app, which integrates gamification, storytelling, and micro-learning. As a result, over 500,000 students in Iraq have downloaded the app, making education more engaging and accessible.
Future Aspirations
With the new funding, Corrsy plans to expand its market presence and improve the app. According to Mustafa Salam, Founder and CEO, “We are thrilled to have support from investors worldwide. This funding will help us capture the largest market share in Iraq and expand to other markets. Ultimately, our goal is to provide high-quality education to anyone with a mobile device and internet connection, helping them learn for life and enjoy the process.”
Conclusion
In conclusion, Corrsy is poised to make a significant impact on education in the SWANA region. With strategic investments and a visionary approach, the startup aims to transform learning experiences and provide accessible education to countless students. Therefore, stay tuned for more updates as Corrsy continues its journey to innovate and inspire
