By Gavin Gibbon
Prince Khaled tells budding start-ups to look to work with international investors
Prince Khaled bin Alwaleed bin Talal, CEO and founder of KBW Ventures, has urged potential entrepreneurs to think on a global scale when preparing to pitch their ideas.
Speaking at the third edition of the Sharjah Entrepreneurship Festival this week, the 41-year-old said the Middle East entrepreneurial system is “very strong”.
However, he said start-ups must look beyond the region.
Asked what his advice would be to entrepreneurs, he said: “Don’t focus on the Middle East. It’s simple. I’ve had a lot of investors talk to me about their product and how big it is for the Middle East.
“Don’t focus just on the Middle East. You have the entire world at your fingertips right now, why are you focusing on one sector?
“Really show how interesting your company can be everywhere else in the world rather than just the Middle East.
“Sure you have to start somewhere, so start here, but also have a plan for expansion internationally.”
Prince Khaled told the audience that there is an appetite for venture companies internationally to invest in companies outside of Silicon Valley, but there was “no reach” from here.
“People always think I need to talk to Wamda [Capital], I need to talk to all the local guys. You can talk to them, but also talk to other companies internationally,” he added.