Show me the money
The US$50 million Injazat Technology is inviting aspiring technology, media and telecom entrepreneurs for a 20-minute jam session on March 4 to convince them for venture capital funding. PS- Only short-listed candidates who submit their 600-word business plan at Injazatfund.com can walk in.
Injazat Technology Fund, the US$ 50 million venture capital (VC) firm is inviting aspiring technology, media and telecom entrepreneurs for a 20-minute jam session on March 4 to convince them for funding. Only short-listed candidates who submit their 600-word business plan at Injazatfund.com will be invited. Any takers?
The regional VC fund has till date invested in IT start-ups such as DocMan, Ducont, OMN, Rubicon and STS operates under the motto ‘from the region for the region’. Injazat ran a similar ‘entrepreneur drive’ in November last year.
According the firm, any aspirant who can convince them with the soundness of his/her business plan can meet their financial advisors, business managers who constitute the VC panel at their DIC office for presentation and consultation.
The panel will short-list the business plan based on the market potential of the idea or the company, its client base, revenue stream, financial management, relevant qualification and experience of the team.
In return for the seed capital, which can range from a few hundred thousand dollars up to a million dollars based on the scale of operations, the firm will take a reasonable equity stake in the funded company. It promises: 'adequate and fair price for the business taking into consideration all the business specification, country and industry risks associated to it.'
The offer is open to any entrepreneur with a business plan targeting the IT, media or telecom sector operating in the Middle East & North Africa (MENA) region.