24six9 Playbook

24six9.com

@24six9

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Welcome to our Playbook The purpose of this document is to serve as a reference guide to understand what 24six9 is, why it exists and what we are aiming to accomplish.

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Table Of Contents Foreword

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The Blatant Illusion of Academia x Entrepreneurship

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Exploring the Intersection of Entrepreneurship, Social Mobility, and Community

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The Uncomfortable Truth About Entrepreneurship In MENA

6 5 Our Origins -

What it means to be a Founder In MENA

The 24six9 Story

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Foreword

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Foreword The 24six9 Community Handbook has been developed to help you make the most of our network of entrepreneurs, innovators, and change-makers.

At 24six9, we get it—there are some real challenges in the tech ecosystem in the MENA region. We’ve seen the gaps that can hold people back, from access to resources and knowledge to the real connections and mentorship that can make a difference.

That’s why we’ve made it our mission to provide holistic solutions that truly support our community.

We believe that collaboration is what will help us all overcome those hurdles and thrive. Here at 24six9, we’re all about creating an inclusive space where your ideas can take flight, and everyone has the support they need to succeed.

This handbook is your go-to resource, packed with tools, insights, and stories from fellow community members who have turned challenges into opportunities. It’s a reminder of the incredible power of coming together and lifting each other up.

So dive in, take advantage of everything 24six9 has to offer, and don’t hesitate to contribute your own experiences and insights.

Together, we can fill the gaps, build meaningful connections, and create lasting change in our region.

Thanks for being part of our journey! Let’s keep pushing boundaries and redefining what’s possible together. Welcome to 24six9!

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The Uncomfortable Truth About Entrepreneurship In MENA

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The Uncomfortable Truth About Entrepreneurship In MENA In the realm of innovation, making leaps into the unknown is a celebrated matter. It is thrilling and daunting at the same time and involves risk that are truly only for the brave. Innovation means confronting the possibility of failure—elements that are often unavoidable in the pursuit of groundbreaking ideas. As Peter Thiel famously said, “The most contrarian thing of all is not to oppose the crowd but to think for yourself”. This mindset becomes essential when one embraces the cause of innovation, in that it requires entrepreneurs to challenge the status quo and embrace the discomfort that comes with that territory.

Entrepreneurship in MENA is a unique challenge on its own, all the while facing immense potential. The region has seen significant growth across industries, but the startup ecosystem itself, in the MENA region, is broken. This sentiment underscores the disparity between the talent and creativity that thrives here, and the rigid, often formulaic approach that is conformed to.

Einstein famously said, “Doing the same thing over and over again and expecting different results is the definition of insanity.”

It’s unfortunate that this wisdom applies largely to many startups in the MENA region, particularly in how they approach innovation. In many cases, there is an aversion to failure, which is a mentality that stifles creativity and risk-taking, setting entrepreneurs back several steps. In the pursuit of innovation, failure should be considered a crucial step along the path to success, and one that we must embrace.

However, the concept of “Fail fast, fail often” is yet to gain serious traction here, largely due to external pressures from venture capitalists (VCs) who often prioritize their interests over innovation. These VCs also look to the west for formulaic approaches

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to funding ideas, and we’re not saying there’s anything wrong with drawing inspiration from established tech ecosystems like Silicon Valley. The issues arise when VCs pressure local startups to adopt Western strategies that may not align with the unique challenges and opportunities present in MENA. This fixation on external validation creates a distorted focus, where startups are molded to meet the expectations of investors rather than pursue innovation.

In the case of MENA, the real fallacy lies in avoiding failure rather than embracing it as a potential mandatory step in the pursuit of disruption. Those who stumble and confront failure head-on are often the ones who develop resilience and find innovative solutions to problems. To quote Peter Thiel, “Failure is often credited for eventual success”. As the region pushes toward building a robust entrepreneurial ecosystem, it becomes clear how damaging it is to squander time and resources in the pursuit of mediocrity, while labeling it “success”.

In this context, we must reorient our mindset toward innovation in the MENA region. The time is ripe to welcome calculated risks and view failure as a necessary component of growth. Let’s build a startup ecosystem that celebrates experimentation and supports founders who dare to think differently—to champion local solutions that resonate with the unique cultural and economic landscape of MENA.

“Run from what’s comfortable. Forget safety. Live where you fear to live.

Destroy your reputation. Be notorious. I have tried prudent planning long enough. From now on I’ll be mad” - Rumi v

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The Blatant Illusion of Academia x Entrepreneurship

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The Blatant Illusion of Academia x Entrepreneurship So the MENA region fears failure. One thing it’s not afraid of is reducing entrepreneurship to a mere academic pursuit. The audacity of reducing entrepreneurship to degree from a college is not just misguided—it’s an affront to the very essence of true entrepreneurial grit. The true measure of entrepreneurial prowess cannot be quantified by grades on a transcript but by the battle scars earned in the trenches of real-world endeavors.

Entrepreneurial experience is not gauged by a GPA or the term “Ex-McKinsey” on a LinkedIn header. The notion is smug in its self-assurance, and a very common one in the region. There is much to be said about the arrogance and misplaced confidence that that exudes, epitomizing the delusion perpetuated by the ivory towers of entrepreneurship academia. Here’s what a founder really gains from academia in entrepreneurship:

Inaccurate advice

Risk aversion

Massive disconnect from real-world entrepreneurial challenges

Regurgitating textbook knowledge

Tunnel vision

Clinical knowledge and resources that are of no use to real entrepreneurs

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Let’s face it, if one’s journey in entrepreneurship is devoid of frequent failures, setbacks, and challenges, can they truly lay claim to the title of entrepreneur? Success in entrepreneurship is not measured by pristine GPAs but by the ability to navigate uncharted waters, to weather storms of uncertainty, and to emerge stronger, wiser, and more determined with each trial faced.

In the landscape of entrepreneurship in 2024, even on a global scale, the true curriculum lies in the unforgiving arena of the market, where entrepreneurs are forged through the crucible of action. To major in entrepreneurship is not to confine oneself to lecture halls but to immerse in the tumultuous seas of creation, cultivation, and continuous innovation.

Here’s the bottom line for us:

“The true measure of an entrepreneur is not found in degrees earned but in audiences captivated, products loved, and legacies built through unwavering dedication, unwavering strategy, and unwavering courage”

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Exploring the Intersection of Entrepreneurship, Social Mobility, and Community

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Exploring the Intersection of Entrepreneurship, Social Mobility, and Community In the sprawling landscape of social dynamics and economic

Coolidge and George Washington, demands unwavering

structures, social mobility emerges as a symbol of hope for

determination and a relentless commitment to progress.

those of us eager to transcend social boundaries imposed

On this journey, we come across the intrinsic link between

by birthright. No matter where we are, the intricate dance

entrepreneurship, globalization and social mobility.

between privilege and merit exists, but entrepreneurship emerges as a potent force—a symbol of innovation and

And with that, we arrive at the natural realization of

resilience.

community being the linchpin. Whether it’s through shared experiences, knowledge and support, community is what

Entrepreneurship being a solitary pursuit is a lesson that

eventually bolsters individual endeavors. It weaves a tapestry

applies to everyone that’s starting out. There’s no doubt it’s

of solidarity, offering solace and inspiration to founders in

a journey fraught with challenges and uncertainties, but the

their early days. The collective camaraderie is more than just

quest for success, as underscored by luminaries like Calvin

inspiration – it is the ability to maneuver a founder’s journey

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towards social mobility, affecting and uplifting those around

As lifelong learners, we realized long ago that the link

them.

between entrepreneurship, community, and social mobility is profound. Our job, now, is to help others embrace and feel the

Our goal is to recognize and hone the critical junction where

collective empowerment that comes from a shared vision.

social mobility intersects with community, because we truly believe entrepreneurship’s true power lies in its ability

As we embrace the transformative power of communal

to uplift entire communities, creating opportunities for

support and shared vision, we embark on a journey of

underrepresented founders. The notion of challenging the

discovery and growth, united in our pursuit of creating a

status quo comes from entrepreneurship itself, setting aside

brighter, more innovative tomorrow.

societal and economic paradigms, and it’s this integral part of community we want to hone.

Entrepreneurship thrives in the community, it is a symbiotic relationship where ideas are nurtured, and innovation occurs.

We recognize that the ability to acquire skills and wisdom extends beyond traditional institutions. As a result, we honor the college dropouts on their journey to become millionaires, while recognizing the broader implications of democratized knowledge – the potential for social mobility seen through diverse paths to success.

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What it means to be a Founder in MENA

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What it means to be a Founder In MENA Having an innovative idea but lacking the resources to take it to fruition is one of the most frustrating positions to be in. When entering entrepreneurship, there is more at stake than just sustained success. Personal fulfilment as part of entrepreneurship is crucial for one’s social mobility, because not only does it unlock doors for future endeavors, but it also shapes a whole community.

But what does it actually mean to become a founder?

And why would one want to even become one?

Becoming a founder means we ascend towards a mindset of constant innovation, resilience and determination. The decision alone is not one to take lightly, but for those driven enough to want to create the change they want to see.

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Some of the reasons for becoming a founder are:

The autonomy it offers

Purpose-driven

Founders want the freedom and control to shape the course

The decision to become a founder is only taken by those who

to their own success without being burdened by corporate

are deeply driven towards problem solving and creating

constraints that we’re conditioned to adhere to.

lasting change, bringing purpose to their work and their lives.

Financial stability

Freedom to be creative

Who can really ignore the financial rewards and wealth that’s

Founders have a thirst for innovation, and to achieve that

garnered through one’s own ideas.

through more and more creative ways.

Blueprint for innovation

Personal growth

Being a founder means relentlessly pursuing innovation

The journey a founder embarks on is not linear, and thankfully,

without fear. Founders do this for the thrill of changing the

that means personal growth is given the attention it deserves,

whole world, and to create a blueprint for future innovators

along with professional growth.

to follow.

All these reasons aside, there is a massive societal shift that happens around when you embrace entrepreneurship. You are helping a community advance socioeconomically, irrespective of their background.

Honestly, we could just stop at social mobility, but there’s more.

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Entrepreneurship offers a pathway for individuals from diverse backgrounds to achieve economic stability, growth, and success, transcending traditional socioeconomic barriers. If we want to dive a little deeper, we can boldly claim that it empowers marginalized groups, providing a platform for underrepresented groups to display their talents. It empowers them to assert their capabilities and contribute to societal progress.

You’re also gaining real-world skills, and the freedom to deprioritize formal education and credentials. Entrepreneurship values skills, innovation, and determination, providing opportunities for individuals to leverage their talents and drive to succeed. A whole community becomes more inclusive and has more opportunities to thrive.

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So, what’s the connection between 24six9 and the embrace of becoming a founder?

For starters, 24six9 is a supportive ecosystem for those who have made the decision to become a founder, daunting as it is.

We encourage everyone to put their ideas out there, without fear of failure, and our sentiments on failure are obvious already.

The 24six9 community can attest to the fact that entrepreneurship is exhilarating as much as it’s daunting, but that’s why we’re here. One of the fundamental pillars at 24six9 is the strong sense of camaraderie among founders. We provide a space for budding entrepreneurs to connect, share experiences, find resources and mentorship, perfect their funding asks and more.

Above all, we encourage everyone to take risks, embrace uncertainty and celebrate the boldness that comes with venturing into the unknown.

We aim to transform dreams into realities, bridge existing gaps in the tech ecosystem, and redefine what is possible for aspiring entrepreneurs in the MENA region and beyond.

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Our Origins The 24six9 Story

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Our Origins - The 24six9 Story 24six9 is a not-for-profit startup and founders’ community that offers entrepreneurs, investors, founders, and business students a unique platform to converge and enhance their knowledge. The community helps them expand their networks and support fellow entrepreneurs in their journeys. Essentially, we support entrepreneurial ventures and founders, bridging the innovation gap from research to market. The community serves as a vibrant ecosystem fostering collaboration, growth, and success.

Our story started as a simple idea shared over coffee at a local Dubai restaurant. A handful of passionate founders bravely shared their dreams of creating a space for aspiring entrepreneurs. What started as intimate conversations among friends quickly transformed into a pulsating movement driven by the collective ambition to uplift communities, and countries and regions. As the enthusiasm grew, so did the network. 24six9 emerged from those early brainstorming sessions, blossoming into a vibrant community, - one has gone on from several WhatsApp groups to now global chapters. Each chapter is a testament to the power of connection, collaboration and the spirit of challenging the status quo.

Here’s a gift of what sets us apart - 24six9 emphasizes actionable outcomes right from the start. We don’t believe in networking for the sake of networking.

The community is built on the premise of mutual benefit and social mobility, with a focus on fostering innovation, collaboration, and absolute inclusivity.

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24six9.com

@24six9