Temperature will reach up to 36ºC and 37ºC in Abu Dhabi and Dubai, respectively
uae4 hours ago
Tell us about the role your organisation plays as an incubator for start-ups.
NB Ventures has a professional team, which evaluates startups and supports those businesses with disruptive ideas. Once an opportunity is identified, we assist these businesses through our own resources and funds from our network of venture capitalists to support these businesses and bring their ideas to fruition. NB Ventures is headquartered in the UAE with a presence in major Indian cities and has interests in education, healthcare, F&B, electronics distribution, fashion and beauty products.
In your opinion, what is the prominence of startups here and their contribution to the economy?
The UAE government is providing world-class infrastructure and excellent incentives for startups to establish their presence in the country. Startups play an important role in the economy as they draw in capital and investment, thereby fueling growth. They also provide employment to many people.
What are the current workplace trends? What advice would you share with aspiring entrepreneurs in a post-pandemic world?
The trends are to rationalise the cost structure in various businesses. Fall in revenue has led to huge losses due to the incidence of fixed overheads. It's important for entities to reduce the incidence of debt in their businesses, as debt burden has been the single factor that has led to the closure of many businesses. Aspiring entrepreneurs who survived the pandemic can take advantage of the V-shaped recovery that is poised to happen post-Covid-19. Businesses should ensure that they have enough talent and resources to take on the post-pandemic boom.
What are the key points new entrepreneurs should look into in order to secure funding? Are there any misconceptions you would like to debunk?
The budding entrepreneurs should look at proof of concept and prepare a well-thought of and believable business plan that are crucial in securing funding. Entrepreneurs need to be able to demonstrate why they are going to be successful and why their ideas are unique. Their passion and conviction should be visible and they should be able to articulate their business well enough to achieve realistic milestones.
The most important misconception is the size of the ask and valuation. Research and data have proven that investors back promoters who have well-thought of ideas and not by the size of the ask or valuation.
To date, how many start-ups have you assisted across the region? Can you highlight your recent achievements?
We have assisted a total of 27 companies with at least 10 being in the UAE.
I am a big believer in the power of youth. Looking at the young demographic population in both India and UAE, our recent support to Zill Skill, a startup focussed on teaching skills curated and delivered by seasoned instructors, has taken off well. We also recently added Monkey Box to our portfolio, which creates wholesome and fresh food solutions for the student community at schools. These concepts have great potential in the UAE too.
What are your plans in the near future?
NB Ventures is continuing to support new technology initiatives and is focusing on post-acquisition management. We are also expanding our current F&B portfolio by adding new concepts and consolidating our presence in key locations across the UAE. There are also plans to enter emerging markets to fill the gaps for value offerings to a very large and aspirational population
Anything else you would like to add?
My passion for sports recently saw my cricket franchise, Delhi Bulls, perform well at the Abu Dhabi T10 League. It was gratifying to see the team playing like champions in the true spirit of the game throughout the tournament, which saw them enter the finals and end as the runner up. We hope we will compete
well in the next season and bring the trophy home.
Temperature will reach up to 36ºC and 37ºC in Abu Dhabi and Dubai, respectively
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