Government officials and leading investors need to think about the right way to connect this capital with entrepreneurs who can compete effectively with the world’s most aggressive innovators.
We were happy to host Somali Expat Forum at The Cribb last week. This is a platform created for and by Somali Professionals, Entrepreneurs and University Student to connect, engage and share valuable experiences, ideas and knowledge. The objective of this group is to support and guide Somali professionals and University students finding jobs through referrals, mentorship and sharing relevant market intelligence in the UAE & Qatar.
Most business innovation is incremental: a startup or established company tries to improve - but not reinvent - an established industry practice. They take an existing product or service and make it incrementally better, faster, or cheaper. But full-stack startups seek to completely replace a practice or even an entire industry; their goal is to offer a complete end-to-end solution that is transformational, a true breakthrough.
If you want to understand the true enemy of innovation, go right past bureaucracy, tight budgets, siloed data, and the generally slow pace of change.