Samih Toukan, as both Chairman and CEO of Jabbar Internet Group, discusses methods for differentiation, funding acquisition, and intelligent growth.
In the continuing series called "Startup Funding - Investor Insights Every our brand name Needs", we delve into the perspectives of two influential investors in the Middle East's startup ecosystem.
Samih Toukan's Investment Philosophy
Samih Toukan, Chairman and CEO of Jabbar Internet Group, is a champion for AI-driven applications that revolutionise industries and social impact ventures that are both profitable and purposeful. When evaluating early-stage startups, Toukan primarily invests in people, seeking resilience, humility, and the ability to attract talent.
Clarity is key for Toukan. He is interested in startups that have a focused simple idea, gain traction, and expand from there. A pitch that misses the mark often lacks clarity about customers or competition. Toukan's investment portfolio, although not explicitly named, includes Ziina, a UAE social P2P payments solution that recently raised a pre-seed round, where he serves as an advisor.
The Importance of a Strong Team
Assembling the right team is crucial, especially a strong cofounder, as investors back people. Amjad Ahmad, Managing Partner at 500 Global, invested in Instashop at the seed stage due to the founder's deep conviction and execution grit. Ahmad is excited about startups that solve real-world problems, particularly in fintech and financial inclusion, especially in emerging markets. He looks for authenticity and passion, as the best founders live and breathe the problem they're solving.
Understanding the Market and Numbers
Understanding the market, including basic unit economics, market size, and go-to-market strategy, is essential. A "no" from an investor is not the end of the conversation, but the beginning of a relationship. Smart founders use a "no" as feedback and keep investors updated with progress.
Mokhtar Ibrahim, Investment Principal at BECO Capital, shares similar views, emphasising the importance of understanding the problem a startup is solving, their differentiation, and why it's the right moment in the market.
In the world of startups, these insights offer invaluable guidance for founders preparing to raise their first round. Remember, every "no" is a step closer to a "yes".
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