Date: May 6, 2024
The Zubair Enterprises Development Center (Zubair EDC) recently organized yet another “Tajribati” dialogue session to shed light on the concept of alternative innovative funding solutions. The session, organized at The Zubair Corporation, hosted Mr. Mohammed Al Tamami, founding partner and head of commercial affairs at Mamoon Company, and Mr. Mohammed Shehzad, CEO of Ethisx Investment Company, and the session was moderated by Mr. Ali Shaker, Head of Head of Z-EDC.
The “Tajribati” initiative is a unique platform for entrepreneurs to communicate and exchange opinions and experiences, and discuss successful solutions and challenges faced during the establishment stage. Tajribati initiative comes within the Centre’s efforts to develop entrepreneurship in the Sultanate, through hosting a group of experts and specialists to clarify the challenges and difficulties facing owners of small and medium enterprises and present appropriate solutions.
Entrepreneurs discussed various topics and key aspects such as types of venture capital, the difference between traditional and innovative financing methods and types, important features and types of crowdfunding, and prominent tools required by the entrepreneur to effectively take advantage of modern and innovative financing methods.
Ali Shaker, Head of Zubair EDC, said: This session came after extensive discussions with entrepreneurs to find suitable financing to manage their commercial projects. He pointed out that the session had positive interaction and feedback from the attendees, whether through informative inquiries or presentation of their experiences in this field. He further pointed out that “Tajribati” organized by the Zubair EDC is an outstanding platform for entrepreneurs to gain knowledge, information, and directly discuss with specialists and experts, various topics related to their commercial projects.
Mohammed Al Tamami, co-founder and head of commercial affairs at Mamoun Company, expressed his happiness in participating in “Tajribati” session, he said: It was a wonderful opportunity for me to take part in this session organized by the Zubair EDC, interacting with entrepreneurs, discussing challenges and be familiarized with the methods of obtaining funding and projects management. He noted that during this session, I discussed the concept of alternative financing, its types, and the definition of crowdfunding based on donation, reward, and lending, in addition to financing based on contribution. Then he explained the advantages of this type of sustainable finance and its economic feasibility.
Mr. Shehrazad said: I thank Zubair EDC for giving me this opportunity to present the alternative channels and added: There is an urgent need today to search for alternative financing channels that complement traditional channels and take into account the situation and needs of SMEs & Start Ups, and appreciates the developments achieved in recent years in terms of digital financing and modern financial technologies.
One of the participating entrepreneurs commented: I am happy to participate in “Tajribati” session, organized by the Zubair EDC. He pointed out the various difficulties faced by entrepreneurs in obtaining appropriate financing to manage their businesses. Entrepreneurs’ participation in this session enabled them to learn about innovative financing, crowdfunding, and the techniques used to obtain financing, and will seek to apply everything learned in this session in managing their commercial projects.
Tajribati sessions made available by Zubair EDC are designed to explore all topics of interest to entrepreneurs who own small and medium enterprises, difficulties and challenges faced, how to overcome them, and the opportunities available in various sectors. The main approach to tackle these demands is by hosting specialists from the public and private sectors and academics from various fields. Since the establishment of the Zubair Center, it has sought to create an appropriate environment for the growth of entrepreneurship by providing a package of procedures and opportunities for entrepreneurs to develop their enterprises, whether through initiatives held by the Center or through participation in seminars and mutual visits with a number of the Center’s partners from inside or outside the Sultanate.