The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on
I conclude the interview by asking a bit more of a long-term, theoretical question. What I am attempting to reflect on here is the potential of Kurdistan becoming a regional influence for economic development. The Middle East, with Dubai in particular, has been growing rather significantly in global importance. Tourism is increasing, there are obvious
If you have read much of world news lately, you will notice there has been ongoing tension between the Kurdish region and Turkey. Reflecting back on the stability issues, this must be diffused in order to allow significant external investment to take place. SM: How do you answer the questions regarding the recent threat of
Investing in a conflict area is risky business, but there are resources in Kurdistan which will draw in Oil producing companies. Microfinance structures could also benefit the agricultural region. However, in order for a “boom” to be sustainable, there will need to be a significant investor confidence in security – particularly for the finance industry
Political stability must be viewed as a precursor to economic development. How else do you explain the success of microfinance in places such as India, Mexico, South America, and its failure (for the most part) in Africa (aside from limited success in places such as Kenya – which is a rather stable government for the
Continuing on the same theme, I now delve more into the entrepreneurial / venture capital opportunities. This region is actively looking for external investments, and simply because of the vast natural resources there, they are very likely to receive investments in the energy industry. I have also noticed over time that entrepreneurial spirit exists is
Countries such as Iraq, which have not been involved in a capitalistic economic circumstance, are going to experience growing pains as they attempt economic development. Among the most important requirements will be access to capital, and likely in case like this, access to microfinance. My first question about the banking capabilities in the area reveal
A significant challenge for a developing country is developing an adequate workforce. Here I discuss the situation of the current workforce in Kurdistan. The most significant issue is that there has been little technical development in the workforce, thus there are limitations on the type of work that can be performed. A second significant drawback