Allsopp & Allsopp
If you're in the throws of setting up a new company, you'll be aware that an office is an essential part of the process and needed in order to get a trade license. Take a look at how you can systematically approach this process.
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Arabian Business
2 days ago
- Arabian Business
Allsopp & Allsopp
If you're in the throws of setting up a new company, you'll be aware that an office is an essential part of the process and needed in order to get a trade license. Take a look at how you can systematically approach this process.
Zawya
2 days ago
- Zawya
Sheraa attracts Capital Pool Exceeding $670mln at first edition of 'Deal Dock'
Deal Dock Advances Sheraa's Mission to Accelerate Access to Capital. Curated One-on-One Meetings Enable Targeted Investment Conversations. The MoU between Sheraa and Continuous Venture Capital enhances funding opportunities for startups in their early stages. A capital Pool Exceeding $671 million. Sara Al Nuaimi: The 'Deal Dock' reflects Sheraa's commitment to building platforms that unlock new opportunities for entrepreneurs and investors. Colin Meagle: Partnering with Sheraa allows us to tap into a pipeline of purpose-driven founders. Sharjah, The Sharjah Entrepreneurship Center (Sheraa) hosted the first edition of Sheraa Deal Dock on May 29th at its headquarters, bringing together around 200 startups and bridging them with a network of active investors. The event also witnessed the signing of a Memorandum of Understanding (MoU) between Sheraa and Continuous Venture Capital, aimed at expanding access to funding for Sheraa-supported startups, particularly those in the pre-seed and seed stages. This edition of Sheraa Deal Dock welcomed the participation of six investors: Global Ventures, Continuous Ventures, Oraseya Capital, Wamda Capital, Beco Capital, and Shorooq Partners. Collectively, these firms represent a capital pool exceeding $671 million, underscoring the strength and growing reputation of Sharjah's entrepreneurial ecosystem, as well as Sheraa's ability to convene mission-aligned capital partners. Each investor brought distinct sector expertise and investment philosophies, contributing to the event's goal of facilitating high-value, founder-investor connections that go beyond the pitch. The event aligns with Sheraa's wider mission to accelerate access to capital and support the growth of impactful ventures. Each of the participating startups took part in one-on-one meetings with aligned investors. These meetings were matched to ensure mutual interest and sector alignment, maximizing the chances of meaningful outcomes. The event featured a fireside chat titled Inside the Investor's Mind, offering founders rare insight into investor expectations and decision-making dynamics. The chat featured Sonia Weymuller, Co-Founder and General Partner at VentureSouq and a Sheraa Advisory Board Member, in conversation with moderator Nader Amiri, General Partner at Homegrown Ventures and a Sheraa alum. As a leading voice in the investment space, Weymuller shared valuable perspectives drawn from her experience supporting startups across the region and beyond. Strategic Partnership During the event, Sheraa signed a Memorandum of Understanding (MoU) with Continuous Venture Capital, marking a strategic collaboration aimed at expanding funding opportunities for Sheraa portfolio startups, specifically targeting those in the pre-seed and seed stages. The MoU was signed by HE Sara Abdulaziz Al Nuaimi, CEO of Sheraa, and Colin Meagle, Founding Partner of Continuous Venture Capital. This partnership reinforces Sheraa's commitment to accelerating startup growth by facilitating access to early-stage capital, strengthening investment readiness, and connecting founders with regional and international investors. Through this collaboration, startups will benefit from strategic support, market exposure, and tailored engagement with Continuous VC's investment network. HE Sara Abdulaziz Al Nuaimi, CEO of Sheraa, said: 'Sheraa Deal Dock reflects our continued commitment to building platforms that unlock meaningful opportunities for both entrepreneurs and investors. The event was designed to foster strategic, action-oriented connections, enabling startups to present their ventures in a focused environment and gain valuable feedback to accelerate their growth. Through such initiatives, we advance our efforts to position Sharjah as a dynamic hub for entrepreneurship and innovation, supporting purpose-driven ventures that contribute to a more resilient and diversified economy.' She added: 'We recognize that early-stage founders need more than just capital; they need partners who understand the challenges of building a business and are committed to their long-term success. Our partnership with Continuous Venture Capital is a strategic extension of this philosophy. By enhancing access to funding, improving investment readiness, and expanding connections to relevant investor networks, we are creating an enabling environment where bold ideas can thrive. This collaboration reinforces Sheraa's mission to empower entrepreneurs and turn ambitious visions into tangible, lasting impact.' Highlighting the strategic value of the collaboration, Mr. Colin Meagle, Founding Partner, Continuous Venture Capital said:"We believe that transformative ventures often begin with a single opportunity; one that's backed by belief, guidance, and access to the right resources. Partnering with Sheraa allows us to tap into a pipeline of purpose-driven founders who are solving real-world problems with innovation and integrity. Together, we are not just investing in startups; we are building a foundation for sustainable growth, empowering the next generation of changemakers, and strengthening the region's role as a global hub for entrepreneurial excellence." Sheraa Deal Dock exemplifies Sheraa's role in positioning Sharjah as a global hub for entrepreneurship and innovation. Since 2016, Sheraa has supported over 450 startups and helped raise nearly $300 million in funding. Events like Deal Dock represent the next chapter in this journey, where curated access, quality engagement, and measurable outcomes define success.
The National
3 days ago
- The National
Subpoenas issued after Builder.ai declares insolvency
Some current and former staffers at a once-promising AI start-up, have been issued subpoenas from the US Attorney's office in Manhattan days after the company declared insolvency. A former high-level employee at the Microsoft-backed company confirmed that, on the advice of counsel, some employees have been asked to preserve documents and other evidence related to a potential criminal investigation. 'They're looking into inflated sales numbers and round tripping,' a former staffer said, referring to a method for evading taxes. Regardless of whether or not the investigations lead to any litigation or prosecutions, the London-based days as a high-flying start-up are done. 'They're entering insolvency and every jurisdiction is different, so all of our end dates are all different, but the company is essentially done,' the former employee said. The US Attorney's office in Manhattan declined The National's requests for comment. It's a precipitous fall for a company that once achieved unicorn status, receiving a valuation of more than $1 billion. Another former employee spoke to The National last week to raise concerns about 'Founder Sachin Dev Duggal, who has since moved to Dubai, has also been a prominent speaker at many conferences across the region, contributing thought leadership to the tech and business community,' the former employee said in an email. Mr Duggal was removed as chief executive in March, though he retained an association with the company, along with the title of 'chief wizard'. In 2024, when was flush with investor cash and in the tech world's good graces, Mr Duggal briefly spoke to The National as he appeared at an event hosted by the Dubai Multi Commodities Centre, which had just announced a new AI centre. 'With this centre, we're helping to unveil a portal to global commerce,' he said at the time, reflecting on why chose DMCC as an ecosystem partner. 'We didn't want to be a software company just surrounded by other software companies, we wanted to be surrounded by potential customers and peers,' Mr Duggal added, referring to DMCC's reach and partnerships with gold, diamond, tea, coffee, crypto and gaming entities, to name a few. According to employees and media reports, failed to meet revenue expectations. It had promised to make mobile app development as 'easy as buying a pizza' but struggled to create reliable products, disappointing investors and creating a chasm between expectations and financial reality. Mr Duggal requested additional investment funds, as well as an emergency loan months before he was stripped of the chief executive title. Audits later revealed a high likelihood that sales projections had been fudged, causing concern about other potential financial irregularities. LinkedIn page, which has 288,000 followers, turned off the comment section for a post announcing the company's insolvency proceedings. 'Despite the tireless efforts of our current team and exploring every possible option, the business has been unable to recover from historic challenges and past decisions that placed significant strain on its financial position,' the post reads. 'We will work closely with the appointed administrators to ensure an orderly process and to explore all available options for parts of the business, where possible.' The company has become a cautionary tale of high-flying AI expectations meeting the realities of a competitive and crowded tech market. It's unclear if there will be any surviving pieces of intellectual property that might help survive in a different guise. Mr Duggal, whose confidence and bold projections helped to put on the map, did not immediately respond to The National's requests for comment. He did, however, post some thoughts on a alumni LinkedIn group. 'I don't think the story is done yet, but irrespective if I can be of any help to any of you as you make this transition in life please know I'm only a message away,' he posted in part. 'And more importantly – if I didn't listen, if I was short, if I was unreasonable – I'm sorry.' In the UAE, the DMCC, with which had an 'ecosystem partnership', said it was evaluating developments. The company has its headquarters in London and has offices in locations including New York and Dubai.
