In the final segment of Wamda's MixnMentor Dubai event, a member of the crowd asks the panel, which includes angel investor and Aramex CEO Fadi Ghandour, Muhammed Mekki of Namshi, Brian Sigafoos of Duplays, and moderator Habib Haddad, CEO of Wamda, to give advice for startups that are bootstrapping and don't have access to the Samwer brother's deep pockets.
"Come to me. I'm one of the brothers from the region," says Ghandour, continuing to discuss tips for bootstrapping and how entrepreneurs should approach investors.
Sigafoos then describes how Duplays bootstrapped during their first three years to build up a userbase and revenue before courting investment- first from Fadi, and recently from Beco Capital and Wamda.
Ghandour then tells the story of how Sami Toukan and Hussam Khoury of Maktoob used their first investment very carefully to ultimately outperform a rival, and Habib reveals the moment when he realized he had gone broke running Arabic web technology company Yamli (fortunately right before he closed an investment round), as encouragement to entrepreneurs to keep persevering.
Want more tips from our Mix N' Mentor panel? Check out what our panelists had to say about:
- Agility, Focus and the Power of Pull: Tips from Fadi Ghandour and Joi Ito
- Why Entrepreneurs Don't Need MBAs to Succeed
- How the Private Sector Can Support Startups
- Entering the Saudi Market, and Global Trends for 2013
- Why Gamers Make Great Managers & Tips on Startup Culture
- Hiring and Scaling a Startup Culture
- Why Startups Should Support Sustainability