Dubai, United Arab Emirates, November 26, 2024 : Women-led start-ups are underfunded which is a challenge faced by women entrepreneurs and they are advised to tap resources from friends and families, according to a panel discussion at the Global Women’s Forum Dubai 2024 (GWFD) on the first day of the Forum.

Moderating the session “She Wins: Inspirations from Women Entrepreneurs” at the Global Women’s Forum Dubai 2024 (GWFD) in Dubai, Mostafa Salem, Operations Officer, International Finance Corporation, said research showed that only 5% of investment is finding its way to women-led start-ups. Earlier, a session was told that only 2% of investments are going to women-led enterprises.

The session was attended by Sonia Weymuller, Co-founder and General Partner, Venture Souq; Shamim Kassibawi, CEO and Founder, Play:Date:App.

“Rather than going to venture capitalists (VCs), women-led start-ups should build a cartel, network and build skill sets. Non-tech female founders also face challenges,” said Kassibawi.

“If you want to solve a problem, ask your friends and families,” she said.

Weymuller advised founders to build a circle of allies and do due diligence before approaching VCs for funding.

She WINS Arabia aims to help women-led startups across the Middle East and North Africa (MENA) get the advice, mentorship, and finance they need to grow.

The objectives include strengthening the knowledge and skills of women-led startups and businesses in MENA to support them with building their business plans and refining their pitches to potential investors; increase the capacity of fund managers to target, support, train and invest in women-led startups and enterprises; and connect these trained women-led startups and enterprises to the trained fund managers through networking events and a pitch competition.

She WINS Arabia is expanding to support 100 additional women-led startups and over 30 additional fund managers across MENA. The number of countries included in the initiative has also grown to over 15 and will now also cover Bahrain, Iraq, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, and Syria.

The Global Women’s Forum Dubai (GWFD) provided a platform to explore new strategies for enhancing gender balance and raising women’s participation in the economy and society.

-ENDS-

 

About Dubai Women Establishment

Dubai Women Establishment (DWE) was formed as a statutory body of Dubai Government in 2006 under law no. (24) by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai. DWE aims to enhance the professional and leadership capabilities of women, increase their participation in the comprehensive development journey, and strengthen their role in shaping the economic and social future of Dubai, by proposing and developing relevant and impactful policies. DWE is headed by Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, President of DWE and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. DWE’s strategic plan for 2023-2027 includes three pillars: creating an enabling environment for women in the labour market, developing women leaders, and enhancing the quality of life for women in society, through which DWE seeks to achieve its vision of “Dubai as a pioneering model for women-friendly cities.” The new strategic plan focuses on contributing to the strengthening of supporting legislation and policies, consolidating partnerships and allowing women to influence locally and globally.

About Global Women’s Forum Dubai 2024

The Global Women’s Forum Dubai (GWFD) provides a platform to explore new strategies for enhancing gender balance and raising women’s participation in the economy and society worldwide. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, GWFD reflects the UAE’s leadership in advancing gender equality and its commitment to the United Nations Sustainable Development Goals, particularly Goal 5: Gender Equality. Since its inception eight years ago, the forum has become a leading international gathering for fostering dialogue and collaboration to address challenges and opportunities for women worldwide. With a rich agenda featuring diverse discussions, transformative workshops, and impactful speakers, GWFD brings together thought leaders, policymakers, and innovators to inspire progress toward building a more inclusive and sustainable future. The 2024 edition of GWFD, themed The Power of Influence, takes place on November 26-27 at Madinat Jumeirah, Dubai, gathering over 6,000 participants, 250 speakers and 25 prominent figures and ministers from across the globe. The 130 panel discussions at the forum centre on three pillars: Future Economies and Societies, Collective Engagements and Actions, and Impactful Technologies and Innovations.