Crowdfunding and social innovation have grown immensely in recent years across the world, and the MENA region is no exception. Especially in a place like Palestine, with a large, global diaspora and network of supporters, and no lack of social challenges on the ground, crowdfunding for social enterprises has the potential to catalyze positive economic change. To learn more, I had the pleasure of interviewing Lama Amr, the recently promoted Executive Director of BuildPalestine.
When it comes to understanding the MENA region’s Seed stage venture capital and startup ecosystem, you’d be hard pressed to find someone with a wider breadth of experience than Hasan Haider. Formerly the Managing Partner of 500 Startups’ MENA Fund, Hasan and his partner Sharif Elbadawi launched Plus.VC in the fall of 2020 to continue the work they started at 500 Startups in 2017, backing the region and its diaspora’s most exciting Seed stage founders.
Like any good entrepreneur, Hasan’s foray into this world started with a pain point he experienced as a consumer. Namely, he couldn’t get access to the DVDs he wanted to watch in Bahrain. To solve this, he founded his first startup. As I heard the rest of his journey, I realized that this “see something, do something” attitude has really guided Hasan’s career all the way up until the founding of Plus.VC. He identified the missing components in his own experience as founder, which led him to set up Bahrain’s first angel investing network. That exposed him to the region’s funding gap for Seed stage startups, which propelled him to 500 Startups. While there, he was involved in nearly ¼ of the regions’ Seed deals, a track record that sets Plus.VC up nicely to invest “early and often in the non-obvious emerging market entrepreneurs, taking an early leadership role with founders to set them up for success.”
Read on to learn more about why Hasan’s so fired up about the region’s potential, what it’s like raising for a VC fund in MENA, what Hasan looks for in a founder, and so much more.
I had the great fortune of touring Egypt’s startup ecosystem with Germine Bouchnack, an Associate at Middle East Venture Partners (MEVP) and their Egypt Operations Manager. Talk about a rising star! Germine’s journey into entrepreneurship started during university and has traversed such notable local, regional and global institutions as Hult Prize, the Commercial International Bank (CIB), and Flat6Labs, before joining MEVP at the end of 2020. I’d suggest you follow her closely, because in a few years, this will be just one of the early articles or interviews profiling her work. I’m confident that her passion for entrepreneurship and venture capital, combined with her desire to make an impact at both a grassroots and national level will continue to lead her career into new and exciting places.
There are some people you talk with that have such palpable energy and passion for a subject that, by the end of the conversation, you yourself are a total convert to their cause. Doing all the interviews virtually makes it all the more impressive that I could feel Anas’ excitement for his work with refugee founders, and his love for the Middle East, practically from his first word through our Zoom call. Read on for my full interview with him!
I’m very excited to publicly announce a new project of mine related to entrepreneurship in the Middle East: StartMENAUp.