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A J : : : : : 8 J J : : % 8 8 8 : . J : J : 8 : 8 8 J J : G^ h ; 0 k ] 6 ] 8 ^ ^ J J J J Report on Venture Capital and the Entrepreneur event held @ Thuraya Hall, DIC Monday, 24th March, 2003.When the going gets tough the tough get going. These were the opening words of the welcome address of Mr. Hari Padmanabhan, President, TiE Dubai. They were ascribed to the situation in the north (Iraq) on the one hand, and the full house at the Thuraya Hall, DIC, where the third event in the TiE series took place.On this note Hari commenced the proceedings by providing an outline of the programme and the speakers, whom he later introduced in detail prior to their respective speeches.Mr. Akmal Hashmi, Managing Director of the Clifton Group, has experienced the venture capital process from both sides of the table, with a successful track record on both accounts. Mr.Akmal provided the valley perspective, Silicon Valley being the crucible of innovation and venture capital funding, in relation to the rest of the world. He touched on the changes taking place in the venture capital industry, ready for the next wave of innovation. The coming together of biotechnology and InfoTech as well as the increasingly global outlook of venture capital were trends taking place currently.A multi-faceted personality, with wide experience across diverse sectors and regions, Mr. Shary Ahy CEO of Esthithmaar Ventures provided a regional perspective of venture capital. He summarised the development of Dubai, and pointed out how closely it resembled the evolution in the financial markets of other economies. His insight and explanations of why he thought demand chain management holds the greatest unrealised value in the region, definitely got the hall full of entrepreneurs and participants thinking deeply.Mr. Ivan Fernandes CEO of Ducont, shared his experiences having successfully partnered and realised value through venture capital funding. Backed by a powerpoint presentation, Mr.Fernandes went through the venture capital process in detail, interspersed with practical tips, from the perspective of the entrepreneur.The interactive session between the audience and the panel was moderated by Mr. Michael Markland CEO of Copernican International. He was introduced as a Venture Catalyst. There were very interesting questions and answers, ranging from the difference between entrepreneurs and inventors, to how a VC could size up an applicant in the short time available.Mr. Shary paid a tribute to TiE by stating how it built communities together through mentoring. The unique value of TiE, and the contribution of the Dubai chapter to the local business community, becomes evident with each event. Much of what was shared in the talk by these industry leaders, can not be gleaned from books or other sources. TiEs Mentoring Programme is another unique opportunity for its members. The networking slot that TiE Dubai arranges before each event, has become an integral part of a TiE function. We dont talk to each other enough in this region, was a comment heard both from the speakers as well as the participants. TiE Dubai provides an excellent platform to address this need.Mr. Padmanabhan brought the programme to a close, by announcing that TiE Dubai was offering the book, The First Mile at a special price. The First Mile is a compilation from 30-40 TiE stalwarts across the globe, and was a fitting accompaniment to the knowledge gained on Venture Capital and the Entrepreneur.TiE Dubai intends to make such events a monthly feature. Each event has seen increasing participation among members and guests, and arranging these programmes is a part of TiEs service credo. For further information please access the website at HYPERLINK "http://www.tiedubai.org/" http://www.tiedubai.org/ or contact HYPERLINK "sonia@tiedubai.org" sonia@tiedubai.org or call 04 3913517. \ ^ l m Y 0
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