Tim Draper Sets Sights on UAE for Next Startup Pitch Competition

AIBC’s Pitch returns for its 4^th edition, and over 100 companies are attending to discuss emerging tech, including Quantum, Big Data, AI, and much more. Held on May 25^th at the AIBC UAE, those who are startups can still apply until May 13^th. New companies who are adapting may be able to win a prize up to 500,000.

One person who is setting their sights on Pitch is venture capital investor Tim Draper. Draper gave some advice to startups who are trying to pitch their latest idea.

For those who are afraid to fail, Draper assured the people failure is “part of the free market” and part of “economic renewal.”

“I have failed about 600 times to date,” Draper said. He described many of these failures as difficult to walk away and learn from.

Draper is also part of the 4^th season of Meet the Drapers. For those who have not heard of it, it is a contest, and whoever wins can be funded by viewers. The winner is able to win an investment from Tim Draper itself in the form of $500k. Other Drapers include venture capitalist William Draper.

Other people who are entrepreneurs also offered their thoughts. One entrepreneur, Aladdin Ismail, said entrepreneurship is a “lonely journey” at first, but when you meet others who have the same goal, there are no limits.

For those wondering about the investment instruments, it will be through CAFE or SAFE.

CAFE, or Continuous Agreement for Future Equity, will be on Fairmint. Fairmint, a fundraising platform to help founders give more control, will make it so any investors will become their first buyer. If one does not use Fairmint, $3 million post-money will be its valuation. You can visit AIBC’s website to learn more about the details.

SAFE, or Simple Agreement for Future Equity, is for investor rights. It allows investors to have future equity, minus a specific price being determined. 

For those who are looking to pitch their startup, over 100 will be selected. If your startup is involved with AI, Blockchain, Big Data, and similar tech, you may be able to have a booth, and the booth will have investors surrounding it. A startup will be able to get their name out and possibly meet someone who will want to invest.

Since there are many companies and few booths, the competition will be fierce. Those who are interested are encouraged to have a good pitch and introduction to be noticed. Think outside the box and present yourself in a way that will get some eyes noticed on you.

If you are interested, you can contact Sophie for more information. You will be able to get more details about the event and be able to see where you can go if you want to submit your pitch.

We are interested to see who will be selected and what tech will be presented at the event.