The chat discusses the challenges of raising funds for start-ups in the MENA region, particularly in the UAE. The participants share their experiences and observations, highlighting the difficulties of getting local VC or angel groups to invest. They suggest that the preferred strategy is to raise funding from outside the UAE and potentially work remotely or expand regionally. The conversation also touches upon the importance of effective communication and negotiation skills when dealing with potential investors.

The participants discuss the use of pitch decks and how they are presented to potential investors. Some participants suggest not sharing the pitch deck before the first call, using it as a tool to make the story more compelling during the call. Others prefer to have the deck available before agreeing to meetings. The conversation also touches upon the importance of making a good first impression and providing enough information to get potential investors interested in taking a meeting.

The chat briefly discusses the best banks to open accounts for startups in the UAE, with a preference for neobanks or those with maximum digital capabilities. Participants mention RAK Bank and WIO Bank as good options. There is also a question about the experience of using WIO Bank’s multi-currency card. The conversation acknowledges the benefits of neobanks and their digital features.