Experience Guidance
At Every Stage

In the early days of building, it’s tempting to chase every shiny opportunity. You’ve spotted gaps in the market, investors are nudging you toward adjacent ideas, and customers keep asking for new features. Before you know it, you’re spread thin across too many fronts. Here’s the hard truth: the fastest way to fail as a startup in MENA, or anywhere, is to do too much, too soon. The most successful founders I’ve seen in this region are the ones who double down on a single pain point and solve it better than anyone else. They resist the temptation to expand prematurely, and instead channel their scarce resources: time, money and people, into building something defensible. In ecosystems where capital is limited and competition can be cutthroat, focus is your superpower. Build a painkiller, not a vitamin. Something your customers can’t live without, if you took it away from them tomorrow.

Over the past few months, we’ve had the privilege of sitting down with the founders behind some of the most exciting startups in the Plus VC portfolio. Through our Founder Series, we set out to uncover the raw, unfiltered truths about building businesses in emerging markets. The conversations were honest, inspiring, and packed with insights we believe every entrepreneur should hear. As we reflected on these stories, patterns began to emerge. While each founder’s journey is unique, the lessons they’ve learned often point to the same North Stars: listen to your customers, stay obsessed with the problem (not the solution), and never lose your drive—especially when things get tough. Here are a few of the most powerful takeaways from our conversations: Your Customer Is Your Compass This isn’t just a nice sentiment—it’s a survival strategy. Again and again, our founders credited customer feedback as the force that shaped their products

If there’s one consistent pattern I’ve seen over and over again with early-stage founders, it’s this: When you have money on the table – take it. I get it. You’re thinking about dilution. You don’t want to “give away too much” of your company too early. But here’s the reality most founders realize usually a little too late: the cost of undercapitalizing your startup is far greater than a few extra points of dilution. Over the years, I’ve lost count of how many founders turned down additional funding in a hot round, only to come back a few months later scrambling to raise a bridge. Every single one of them said the same thing: “I should have just taken the money when it was there.” Because the truth is: this round might be hot, the next one might not be. Markets shift. Investor appetites change. Your next fundraise may be

One of the trickiest decisions founders face early on is setting the right valuation for their startup. At the pre-seed and seed stages, valuation isn’t just a number, it’s a strategic decision that can impact fundraising, ownership, and future growth. Yet, many founders tend to try to over-optimize for a high valuation or the lowest low dilution. Neither approach serves them well in the long run. Here’s how we think about valuation at these early stages – and why getting it right matters. Valuation is About More Than Just the Number Many founders believe a higher valuation is always better. After all, a bigger number means less dilution, right? Not necessarily. Overpricing your startup can set unrealistic expectations for future rounds, making it harder to raise later if growth doesn’t keep up. Instead of focusing on the highest number possible, consider: What is a fair valuation for your stage and

The total addressable market (TAM) is often treated as the holy grail of early-stage investing. Slide decks flaunt massive TAMs like “a $50 billion industry ripe for disruption!” as if that alone justifies an investment. But for seed-stage investors obsessing over TAM is not just a mistake; it’s a fallacy. Why? Because the best startups don’t just capture a share of an existing market, they redefine or even create entirely new markets. And at the seed stage business models are still fluid, pivoting based on customer feedback, market conditions and execution realities. Investing in a startup because it targets a large TAM today often ignores the fundamental truth of how great companies are built. Startups Change Business Models. A Lot The reality is that most early-stage startups will shift their business model multiple times before they find product-market fit. Founders start with an initial hypothesis, but as they engage with

The Middle East’s food industry is undergoing a tech-driven revolution, with innovations in AI, sustainability, and supply chain optimization redefining how food is produced, distributed and consumed.   The Middle East’s food sector is undergoing rapid transformation, fuelled by population growth, rising incomes, and increasing demand for locally sourced food. The food service market alone in the region is projected to grow at a compound annual growth rate (CAGR) of 11.14% over the next decade, reaching $158.5 billion by 2034. Additionally, the broader food market is expected to expand by 4.39% from 2024 to 2028, with revenue anticipated to hit $135.5 billion this year. This surge is driven by several factors: the growing spending power of young professionals leading fast-paced urban lifestyles, the rise of gastronomic hubs across the region, increasing consumer awareness of nutrition and healthy eating, and a record influx of tourists creating new customer segments. Moreover, governments

When thinking about the MENA startup ecosystem, most conversations revolve around major hubs like the UAE, Saudi Arabia, and Egypt. These countries have rightfully earned their status as innovation centers, attracting large-scale investment and fostering high-growth startups. However, focusing solely on these markets means overlooking a goldmine of untapped opportunities in smaller, less-saturated ecosystems across the region. A key focus area for us is making sure we are actively looking at startups in smaller, generally overlooked markets. I have a strongly held belief that there are great founders in every country, and that our role is to find these 2-3 amazing founders that emerge each year from smaller markets and invest in them. Historically, this has gone well, with my best performing investments coming from Bahrain (Calo) and Kuwait (Floward). Why does this work? Great founders in small markets can show execution ability in that market. Once that’s proven, generally

The GCC construction sector is set for significant growth, driven by visionary projects and technological advancements, offering opportunities to overcome challenges and shape a sustainable future. The construction sector is a cornerstone of economic growth and resilience, continually evolving to meet emerging challenges. In the GCC, the industry is poised for a remarkable surge, with an anticipated $3.9 trillion construction pipeline according to Arabian Business[1], driven by ambitious initiatives like Saudi Arabia’s Vision 2030 giga-projects and the UAE’s robust construction pipeline. However, the path to growth is fraught with challenges. Inflationary pressures, constrained lending markets, and labor shortages present formidable obstacles. Delivering projects on time in this complex environment demands innovation and adaptability. Herein lies the opportunity: the adoption of Construction Technology (ConTech) – a transformative force reshaping how the industry operates. Traditionally slow to embrace the change, the construction sector now faces a pivotal moment to overhaul outdated processes.

As a VC, one of the things that is becoming more apparent in the MENA region as the startup ecosystem develops is that there are more and more good startups. But as VCs, good is not great. Don’t get me wrong, both can yield results, but the difference lies in potential and scale. Great companies define industries and create new markets rather than merely competing within them. Understanding and acting on this distinction can mean the difference between average returns and exceptional, legacy-building outcomes. Good Startups: Solid Foundations but Limited Reach A good startup typically has a clear product-market fit, competent leadership, and a well-defined roadmap. These companies are often cash-flow positive or on a clear trajectory to profitability. They solve existing problems effectively and maintain steady growth, often capturing a respectable market share in their industry. Investing in good startups is relatively safe. They’re predictable, with metrics that align

As we head into 2025, I believe that the MENA region’s venture capital ecosystem is going to benefit from declining global interest rates and a renewed global interest in risk assets. This shift is going to present a clear opportunity for startups and funds across the region. I just hope that we have collectively learned our lessons from the past and continue to highlight the importance of measured, disciplined growth. I hope that the days of irrational exuberance, growth at all cost and sky high valuations don’t make a comeback. The Return of Risk Assets The signs we are seeing in the US, with several rate cuts already and a new administration likely to support the continued decline of interest rates closer to the days of ZIRP, are that risk assets are likely to be where exposure will shift towards. We’ve already seen all time highs in the crypto markets,

We are pleased to announce that Hasan Haider, our Founder and Managing Partner at Plus VC, the most active VC in the MENA, has been featured in the inaugural list of The Forbes Middle East Top Venture Capitalists 2024, a prestigious listing of the Middle East’s top venture capitalists.  The Forbes Middle East’s Top Venture Capitalists for 2024 list spotlights the leaders of the region’s active VC firms, highlighting their strategies, key investments, and influence on the startup ecosystem. These firms are distinguished not only by their financial support but also by their dedication and commitment to fostering startups and driving economic growth.  Hasan Haider has earned his place on the 2024 list, a testament to his exceptional track record and impact in venture capital. Over his 15-year career, Hasan has invested in more than 250 startups in the MENA region and its diaspora. Commenting on the announcement, Hasan Haider

Some of the biggest names in tech (and other industries) have announced massive layoffs in anticipation of a global recession. In other words: the economy isn’t doing so great! Startups can expect to face challenges with fundraising, a drop in valuations, and a higher churn rate, for both B2C and B2B startups. So how can you, as a startup founder, ensure that your startup survives? While surviving economic downturns is vital, you didn’t get into the startup game merely to survive, right? You’re not looking for a stable job or a steady income. You’re looking to change the world (or at least our corner of it!). And that involves having ambition, vision, and the perseverance to see your vision through. The startup life is full of uncertainty, which you probably know by now! Those who make it big are the ones who thrive in times of uncertainty! Let’s look at

Building a startup and venture capital ecosystem takes a lot of core inputs, from regulatory and business environments, to access to market and talent, and of course adequate and fair funding optionality for founders. In its essence, it follows the simple law of arithmetics, the more you put in, the more you get out – in spades – accelerating the speed of economic transformation and adding value to society. Our foundation is built on the desire to see the regional ecosystem grow and be a significant contributor to economic opportunity and growth for the next generation. We believe passionately in the region’s potential and want to add more capital, more resources and more talent in the most impactful way we could think of. Introducing +VC! We are thrilled to announce that we are launching a new venture capital firm to add more capital to the burgeoning startup ecosystem in the