CURATOR || CURATING SOLUTIONS FOR YOU by Awantika Jay https://padlet.com/awantikajm/vxdhwow5rs3g37fk By: Shvena and Awantika en-us 2021-07-28 08:28:48 UTC 2021-08-01 08:25:14 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/1278148544/5c6c6cc9ad77dc9c5fe9a92e95eb8bc9/bv_logo.jpg LEGAL MACRO CHALLENGES FACED BY EARLY-STAGE STARTUPS IN THE MENA REGION awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1663000474
  • Fragmentation of the regulatory framework: The regulatory system of the MENA region lacks uniformity. This fragmentation of the regulatory framework of the MENA region makes scaling and growth difficult because it would be like founding new companies in each jurisdiction for startups.
  •  Foreign competition disrupting economies: Since the MENA region's startup ecosystem is finding its footing globally, exposure to highly skilled and developed foreign competition stunts the growth of the MENA region. This hurdle would require governments to regulate to bridge the gaps in the ecosystem via tariffs.
  •  The rigidity of government legislation: The government legislates slower than the disruptions that arise within the startup ecosystem. Also, MENA regions lack common law jurisdictions; this backtracks a startup's efforts to scale up their business.  
  •  Red tape: The enormous paperwork about setting up and scaling the business coupled with legal jargon tends to consume and clouds a founder's aim to build their startup. 
    • Below is an article that explores a few of the major macro challenges faced by the startups in the MENA Region. 
    ]]>     2021-07-28 09:50:44 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1663000474     MICRO CHALLENGES FACED BY EARLY-STAGE STARTUPS awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1664929291
  • Acquiring Funding: Founders are often unaware of the overall fundraising process. Knowing how much to ask for, at what price, and with what partners, is critical to further a startup. 
  • Technological Uncertainty: Startups are required to develop products that are on par or even ahead of current tech trends in the market. This uncertainty leaves startups without clarity on infrastructure and further adaptations to meet the current or future technologies. 
  • Market Unawareness: This unawareness includes the inability to identify the competitors, their product and service offerings, and the strategies they use to compete. New firms must understand the competitive market to react to the actions of the competitors in a timely way with improved products and services.
  • User Acceptance: To exploit an opportunity, an entrepreneur should understand the specific aspects of user needs. Failure to evaluate the potential market size is also one of the top reasons for the failure of startups.
  • Legal Challenges: Every aspect of running a business is governed by one or the other law, and entrepreneurs must know about all the regulations which affect their organization.
    • Below is an article that encompasses other common challenges faced by early-stage startups.
    ]]>     2021-07-30 11:34:25 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1664929291     Challenge (1) : Legal Challenges awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665132788
  • When and How to seek funding 
  • Disputes between Founders/Management
  • Founders are often beginners in the business 
  • Scaling up the business 
    • ]]>     2021-07-30 17:18:14 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665132788     Gap (1) : Law firms/ Internet Legal Service Providers awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665133362
  • Expensive Service: Law firms are typically expensive, especially at the partner/counsel level. 
  • Limited Time Committed: For the time commitment required for startups from inception to exit, founders may only see their legal counsel only in critical situations, not consistently. 
  • Untailored insights: For Non-Firm Internet Legal Service Providers, the counsel accessible may not provide tailored market-specific insights. 
  • Inaccuracy of documents: These Paid Service Providers also disclaim all liability stemming from their documents that are usually not updated or accurate. 
    • ]]>     2021-07-30 17:19:18 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665133362     Solution (1) : Curator's Legal Workshop awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665134712
  • Curator's legal workshop caters to provide startups with the lay of the land but simultaneously provides invaluable legal insight and support.
  • Apart from educating founders on legal challenges and providing due diligence courses, the legal workshop extends its expertise to provide legal understandings on various startups challenges.  
  • For instance, it provides an understanding of SAFE agreements, founders' agreements, the legality of setting up businesses, and regulatory interpretation to solve the aforementioned legal challenges startups face.
    • ]]>     2021-07-30 17:21:55 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665134712     Challenge (2) : Commercial Awareness awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665137311
  • Technological uncertainty
  • Market unawareness and competitive uncertainty
  • User acceptance
    • ]]>     2021-07-30 17:25:55 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665137311     Gap (2) : Information Gap awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665137947
  • Inaccessible Information: A big issue is that data exists, but it cannot be retrieved effectively or through practical means to become helpful information.  
  • Incurs Expense: Manually pulling data from systems in itself is expensive, but apart from this, the information produced is often incomplete, thereby costing the integrity of decisions made. 
    • ]]>     2021-07-30 17:27:08 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665137947     Solution (2) : Curator's Market Report awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665138827
  • Curator provides its portfolio companies with detailed and tailored Market Reports which incorporate Quarterly regulatory and policy reports. 
  • The Report provides startups with a competitive edge where founders can scope out rivals/peers and pinpoint target audiences according to Curator's comprehensive industry and region insights. 
  • The Market Report would indicate to startups about current or potential trends allowing founders to build technology or solutions to stay at par or ahead of the trends. 

    • ]]>     2021-07-30 17:28:57 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665138827     Challenge (3) Underdeveloped Network awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665143603
  • Creating your Community 
    • ]]>     2021-07-30 17:38:25 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665143603     Gap (3) : No physical Networking awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665144215
  • Stunted network: With the COVID-19 pandemic, usual business practices of physical networking events have ceased to occur—the halting of such a powerful tool for startups curbs their chance for success. 
    • ]]>     2021-07-30 17:39:47 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665144215     Solution (3) : Curator's Community awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665144718
  • Curator's community-building initiatives are unique opportunities for startups to build bedrock networks, especially since the pandemic has purged startups of this necessity. 
  • The access to Curator's events ranging from conferences to seminars, will allow founders to collaborate and discuss the industry and ways to break into it with expert individuals. 
  • This program of Curator can allow startups to accelerate their chances of receiving insights, new fundraising rounds, or even exit opportunities 
    • ]]>     2021-07-30 17:40:52 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665144718     Challenge (4) : Lack of valuable intel/guidance awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665145357
  • Self-reliance 
    • ]]>     2021-07-30 17:42:15 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665145357     Gap (4) : Lack of mentorship from either VCs or Investors awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665146641
  • Guidance and Insight: Often, Venture Capitals or Investors leave startups with funding but fail to provide vital guidance to navigate the ecosystem, thereby risking a startup's chances at success. 
    • ]]>     2021-07-30 17:45:08 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665146641     Solution (4) : Curator's Mentorship awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665147856
  • Curator's Mentorship scheme is led by the industry experts and founders of Backer Venture, providing startups with an extensive background in technology law. 
  • Curator's mentors provide a dual perspective concerning technology and law and believe the interception of these two facets allows startups to further their business model and future phases 
    • ]]>     2021-07-30 17:47:32 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665147856     CHALLENGES awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171406 2021-07-30 18:42:25 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171406 GAPS awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171474 2021-07-30 18:42:34 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171474 SOLUTIONS awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171533 2021-07-30 18:42:42 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665171533 CURATOR awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665173725 Backer Ventures founded Curator as a service provider to its portfolio companies. Curator is armed to the teeth with services ranging from workshops to mentoring from experts. In essence, Curator serves to Curate solutions for you.]]> 2021-07-30 18:44:34 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665173725 SOLUTIONS PROVIDED BY VC FIRMS awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665480658
  • Networking Opportunities: Venture capitalists are typically well connected in the business community. Tapping into these connections could have tremendous benefits. Partners at a venture capital firm spend as much as 50% of their time building their network to assist the companies they invest in. Having access to this network can help forge new partnerships, build out clients, hire key employees, and raise future rounds of funding.
  • Raising Large Amounts of Capital: Many small business loans for startups are limited to a certain amount and qualifying can be difficult. However, venture capital is available in amounts as small as $100,000 for a seed-stage and more than $25 million for more mature startups in large markets. There is also a tendency for startups to raise venture capital several times, allowing companies to access a large amount of capital that would otherwise be impossible.
  • Business expertise: Venture capital is a tremendous source of consultation, expertise, and guidance. This can help with a variety of business decisions, including financial management and human resource management. Sometimes they help make technical strategies, industrial know-how, strategies on expansion and growth, and acquiring the right talent pool. Making better decisions in these key areas can be vitally important as your business grows.
    • ]]>     2021-07-31 09:40:37 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665480658     awantikajm https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665833368
  • Risk Management: Bringing on venture capital helps startup founders manage the risk inherent in most startups. By having an experienced team oversee growth and operations, startups are more likely to avoid major issues. The rate of failure for startups is still 20% in the first year, but having someone to turn to for advice when a complex situation arises can improve the odds of making a good decision.
  • Increased Exposure and Publicity: Most venture capital firms have a PR group and media contacts, and it’s in their best interest to get exposure for your startup. Often being associated can add a great deal of credibility to a startup, especially for founders who haven’t built other successful companies. The increased publicity can lead to getting noticed by potential employees, customers, partners, and other venture capital firms interested in raising funding.
  • Aid for Subsequent Funding Rounds/Exit: Venture capital firms are interested in seeing your company raise additional funding at a higher valuation. They can introduce you to additional venture capital firms that can better assist you at later stages and provide additional funding. Venture capital firms often reserve the right to invest in future rounds of funding and often contribute additional capital as the startup grows.
    • ]]>     2021-08-01 08:11:26 UTC https://padlet.com/awantikajm/vxdhwow5rs3g37fk/wish/1665833368