Last week, numerous Endeavor network members participated in ArabNet, the largest digital conference in the Middle East. Featured speakers included Peter Kellner (Co-Founder, Endeavor), Fadi Ghandour (Board Member, Endeavor Jordan and Endeavor Lebanon), Omar Koudsi (Endeavor Entrepreneur, Jeeran), and Zafer Younis (Endeavor Entrepreneur, The Online Project).
Tarek Sadi, Managing Director of recently-launched Endeavor Lebanon, also spoke at ArabNet. As highlighted in the press release, Tarek “spoke of 2010 as a milestone for early stage investing in MENA,” noting the establishing of new entrepreneurial incubators and 10 new institutional investors. He noted the presence of a stronger investor base and a multiple increase in deal volumes, and highlighted a report that venture capital and private equity in emerging markets increased by 30% in 2010.
“We’ve found that two things are required for a successful entrepreneurial ecosystem,” said Tarek. “One, the right entrepreneur. And two, deep and tailored support. The biggest barrier to entrepreneurship isn’t capital.”
Meanwhile, on a panel about entrepreneurship in emerging markets, Peter Kellner stressed the importance of entrepreneurial education in the region, and developing mechanisms for creating more Arabic online content and applications. He also advocated for regulatory reform in such areas as transaction and labor laws.
Peter Kellner (right) at ArabNet