Oracle aids entrepreneurs

E-business software providers, Oracle Corporation, has introduced a new online community to help start-up businesses progress

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By  Charlotte McDonald Published  March 22, 2001

Oracle Corporation, providers of software for e-business, has launched an online community for e-business entrepreneurs. The aim of the project is to help entrepreneurs grow their new ventures and take their companies to IPO or trade sale.

Middle Eastern companies such as HP Garage, Dubai Ideas Oasis and Bayt.com have joined the programme as members and partners, to offer localised services to the entrepreneurs.

“Emerging companies today, whether they will operate as online services or traditional bricks-and-mortar entities, need to create themselves as e-businesses,” said Ayman Abouseif, Oracle’s marketing director for Middle East and Africa. “The Oracle VentureNetwork community gives these fledgling Internet-based companies expert advice on choosing the technologies and resources they need to succeed,” he added.

Resources include technology start-up firms, an online chat forum that will allow early-stage companies to share ideas, challenges and information and companies that can advise on public relations and marketing.

“You need to have good finance, good technology, sales effort, administration and a strong marketing team when setting up your company,” said Rabea Ataya, CEO, Bayt.com. “There’s no point having fantastic software if people aren’t encouraged, through marketing, to come back and visit your site,” he explained.

In its first year, 2,885 European enterprises registered with Oracle VentureNetworks, creating more than 1,800 business plans of which nearly 200 have been funded by venture capitalists.

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