16 May

Mr. Abdulaziz B. Al Loughani, Co-Founder and Managing Partner at Faith Capital, is guest speaker at GUST’s Entrepreneurial Finance class

Mr. Abdulaziz B. Al Loughani, Co-Founder and Managing Partner at Faith Capital, was a guest speaker at Gulf University for Science and Technology (GUST) Entrepreneurial Finance class, lectured by Dr. Sulaiman Al-Abduljader, Assistant Professor of Finance at GUST and Chairman of the Advisory Board of the Gulf Financial Center (GFC).
Previously, Mr. Abdulaziz was the founding Vice Chairman (Executive) of the Kuwait National Fund for Small and Medium-sized Enterprises (SMEs) Development, a 7 billion U.S. Dollars (USD) independent public institution responsible for developing the entrepreneurial ecosystem in Kuwait (2013-2017).
Prior to this role, Mr. Abdulaziz was a co-founder and Managing Partner of Talabat.com until 2010, and has since then been investing in technology startups and involved in a number of local and regional entrepreneurial initiatives.
In the lecture, Mr. Abdulaziz expressed that many entrepreneurs find out after launching the company that success can be elusive. At the beginning of the lecture, Mr. Abdulaziz stated, “take risk when you can afford it,” specifically highlighting the importance of understanding the size of target markets and value proposition of the product or service before diving into a business. Moreover, Mr. Abdulaziz strongly believes that business plans fill in history books, and instead there are better modern tools like “business model canvas” which are more practical plans than traditional feasibility studies.
Furthermore, Mr. Abdulaziz continued the lecture by addressing the importance of conducting a forecast financing requirements. According to Mr. Abdulaziz, “Starting a business requires money. The forecast financial plan demonstrates how much money is required and when. If you don’t have the required amount of funding to start the business, you may have to begin on the smaller scale your funding allows.” As an entrepreneur himself, Mr. Abdulaziz talked about building businesses that solve problems will always attract smart money.
In addition, Mr. Abdulaziz addressed the significance of having the right capital to start or expand your business. He gave the students few tips on how to increase their capital or receive more funding, “There are many ways to earn funding, from traditional bank loans to family and friends to crowdfunding platforms. You can choose these routes, certainly, but smart money always provides more value than just funding.”
Finally, Mr. Abdulaziz highlighted the importance of having team members who can help the startup business to succeed within a short period of time. Mr. Abdulaziz said: “It is important to have diverse team members because each one has a different point of view that could be beneficial for your business.” His statement reflects the importance of having teams with complementary skills and backgrounds, with unique characteristics. He firmly believes that a blend of experiences/expertise vary from one business to the other, and for such you should differentiate between your investors and your team.
Ultimately, Mr. Abdulaziz believes that the “journey is the reward.”

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