??? This week at Fusion 42 #09

What is it that is often said about finding your first users? find the first 10 that love what you are doing…. well I can happily say we have a lot more than that and this community is generating value and positivity over and above any possible expectations. I was gonna write a whole monologue about this but I think the late, great Steve Jobs just says it way better.

??? & ?? Let's go ??

Quality over quantity everyday.

?? 470 ???people from 58 countries ???and a waitlist of 18 saw the community pop by 11% this week.

?? The good

?? ?????Each week we improve

?? ?????Each week valuable engagement grows

?? ?????Each week the positivity goes up another notch

?? ?????Each week there is a user shuffle, and some leave as they realise there are no cheap seats.

???? Our IRL meetup in Dubai on Wed 26th was inspirational for me. Great down to earth people from every corner of the planet.

?? The bad

?? Too many lurkers sitting in back, I can’t believe that founders don’t have questions to ask ???? ♂?

?? The ugly

?? An episode of VC bashing started which was quashed super fast. It is an ugly side of some founders that I personally can’t stand, it just shows a total lack of understanding of both the VC model, startup ecosystems and literally their own business.

?? Fusion 42 Weekly Roundup:

?? Networking & Collaboration:

General Discussions:

• Introduction of new members with diverse backgrounds and interests.
• Proposal for collaboration to support web3 projects.
• Community's global reach.
• Commission models for deals and possible future changes.
• Capability of automatic content translation in 30 languages.
• In-person group gathering at Time Out market.
• Birthday wishes for a community member.
• Announcement of an upcoming podcast launch.

Suggestions and Feedback:

• UI-related discussion resulting in the removal of the "Skip" button for better user experience.
• Discussions on web3 projects, experiences, and support.
• Challenges faced by founders in seeking investors and attending pitch events.
• Encouraging regional VCs to look beyond established metrics for true innovation.
• Discussion about a VR-related startup focused on post-stroke rehab in gaming.

Big thank you to Stacey for this brilliant initiative.

• Kicked a cold in record time and had a successful strategy conversation with a GTM expert.
• Posted a blog after months of procrastination.
• Managed to catch up on necessary admin and took the whole day off for their birthday, enjoying family time.
• Met next-gen climate tech entrepreneurs and signed an agreement for an exciting opportunity.
• Had a productive meeting with an ecosystem creator, built connections, and received support to keep going with their platform.
• Hosted a successful panel talk at a store, receiving fantastic feedback and gaining confidence to launch a series for challenger brands.
• Worked on changing their attitude towards being a startup founder while on holiday.
• Had a productive night, lined up meetings with investors, and reflected on their journey from the warehouse to today.
• Got their product ready for public beta and had positive calls with community members.
• Received interest from a university for using their platform in their entrepreneurship program.
• Celebrated their birthday with family and friends, received great feedback on their survey, and prepared paperwork for the next step.
• Joined the community, had a great time with their kids at a theme park, and enjoyed gaming with them.
• Had a company-wide gathering on a national holiday, cherishing time spent with employees.
• Offered a deal to startups, providing up to 6 months free, including unlimited AI.

??? "Ask Us Anything":

This weeks top questions:

1. Poll on aesthetic preference: A poll was conducted to compare two options and gather personal preferences. Left side - 14 votes, Right side - 6 votes.
2. Venue recommendation: A member asked for suggestions for a good venue to conduct a 2-hour workshop in a corporate style. Recommendations included Vida Emirates Hills and SEE Institute in Sustainable City.
3. Opening a bank account for a startup: A member sought advice on opening a bank account for their startup, which operates in multiple countries and deals with various currencies. Suggestions included Wise and Revolut.
4. Discussion on molded pulp fiber packaging concept: A member shared their new packaging concept using molded pulp fiber and plant-based dissolving and edible pods. Positive feedback was received, expressing hopes for its success and potential impact on reducing waste and emissions.

?? Startup Validation & Refinement:

?? Go-to-Market, Customer / User success and Sales Strategies

A member shared two speaking engagement opportunities in Lagos, Nigeria, offering to include others' brands in the presentation to create visibility and sales opportunities.

The group expert shared and discussed the "3+9" strategy, which offers prospects a longer trial period (3 months) followed by a contract (9 months) to reduce customer risk and increase conversions.

??? Tech & Resources:

• A member introduced their early-stage tech startup, Global Collective, focused on removing bias in investment. The founder sought advice on selecting a technology stack for their SaaS product, which includes a recommendation engine and data consumption for language models and debiasing. They expressed interest in incorporating regenerative technology into their product.
• Group members with expertise in tech and startups offered their assistance and insights.
• Prototyping with Python and HuggingFace language models was suggested, along with the use of vector databases like Qdrant or Milvus for easier vector searches.
• Container orchestration with Kubernetes was recommended for scalability and reliability.
• An event-driven architecture using Apache Kafka for real-time inputs was discussed.
• The founder appreciated the advice and expressed interest in learning more about Apache Kafka.

?? Social Media Boost & Marketing:

Overall, the channel consisted of approximately 73+ boost requests posts and about 250+ instances of engagement.

??When you post in this channel, make it a practice to also engage with at least the 5 previous requests. This simple action will then provide the social boost for everyone and generate real value.

?? Financial Mastery & Due Diligence Preparation:

?? ?????? ?? Investor Connect & Term Sheets and Negotiations:

Introduction:

The WhatsApp chat discussion centers around the challenges of securing funding from regional venture capitalists (VCs) for startups. Participants highlight the difficulty in breaking away from traditional startup models and promoting true innovation.

Key Discussion Points:

1. Geographic Location and Funding: Participants discuss how geographic location can be a hurdle for founders seeking funding from VCs. Having a C Corp in Delaware might not be enough for US funding, and Europe presents its own challenges.
2. VC Investment Criteria and True Innovation: VCs often rely on established metrics, which can hinder true innovation and emerging ideas that don't fit the standard frameworks.
3. Diversity and Bias: The lack of diversity in funding is acknowledged, with funds often favoring founders from specific demographics. Participants stress the need for systemic change.
4. Investor-Founder Fit: VCs may prefer investing in founders they can relate to or share similarities with, beyond financial projections.
5. Building Sustainable Businesses: Founders are encouraged to focus on building sustainable businesses and collaborating with VCs to leverage their knowledge.
6. VC as Customers: Understanding VCs as customers with specific needs for high ROI and risk mitigation can help tailor pitches accordingly.
7. Founder's Domain Expertise: Having domain expertise gives founders an advantage when seeking funding.
8. Execution Plans and Capital Stacking: Founders should showcase thorough execution plans and understand capital sources and opportunities.
9. Personal Connections and Trust: Establishing personal connections with VCs beyond the pitch can impact funding success.

Conclusion:

The chat emphasizes the complexities of securing funding from regional VCs and the importance of promoting true innovation while understanding VC needs. Building sustainable businesses and establishing personal connections are key factors in fostering successful partnerships in the startup ecosystem.

?? Pitch Perfect & Investor Relations and Communication:

??This channel has been very active with a lot of requests. We are building solutions that will help founders across all levels.

?? Legal Support:

1. Sales Agreement Template: A participant seeks a sales agreement template for a sales consultant they plan to hire for the US market.
2. Terms and Conditions Sheet: Another participant is in need of advice and assistance in creating terms and conditions for their business model that involves helping football facility owners sell inventory to the global football playing community.
3. Convertible Note Agreement: A participant is raising funds using convertible notes and requires help in creating an agreement to share with potential investors.
4. Legal Advice: A qualified UK lawyer offers her expertise and emphasizes the importance of bespoke terms and conditions for business operations.

?? Trend Watch:

• Israeli startups considering relocation due to judicial changes
• UAE's changing tax policies affecting startup decisions on where to set up
• Importance of regulatory stability for foreign direct investment (FDI)
• Dubai's inflation slowing as global food and energy prices ease
• Release of the latest edition of Middle East AI News

?? Growth Programs & Connections:

• SDAIA launches the first accelerator for GenAI ventures in Saudi Arabia
• Discussion about the role of agencies/consultants in running accelerators like MBRIF

?? Well-being & Inclusivity:

We welcomed a new expert to run the channel this week:

• Discussion about prioritizing mental well-being and sharing personal routines
• Various strategies for mental well-being are shared, including limiting screen time, family time, exercise, and journaling
• Seeking advice on preventing relapse into old habits, and tips such as habit stacking and self-accountability are offered
• Celebrating progress in quitting vaping, and others sharing their experiences and support
• Sharing an article on personal development and habits
• Offering suggestions for healthy habits and activities to replace old ones
• Sharing how certain activities, like football, have helped prioritize well-being
• Extending the discussion to supporting each other's positive habits and goals
• Introduction of a wellness app being developed, with offers of coins as rewards for trying and providing feedback.

?? Jobs and Perks Board:

1. Someone looking for job/advisory work Venture Builders.

Hey, Is anyone here using Notion? We got a fusion_42 deal for you.

Startups can apply to get up to 6 months free, including unlimited AI.

**Here’s the link and please DM me for the code. https://ntn.so/n2**

• The benefit is ?? for you, it is not an affiliation offer where we get something .

?? PROMO channel:

• Invitation to the monthly Impact Roundtable event with a 3-course set menu.
• Announcement of two speaking engagements in Lagos, Nigeria, offering to include brands in the presentation and share materials with 1000+ students.
• Launch of Aqquity, a product to help manage cap tables effortlessly, with a request for support on Product Hunt.
• Offer for startups to get up to 6 months free of Notion, including unlimited AI, with a link and code provided.

♀? Female Founders:

We celebrated one of the members who was instrumental in coaching young innovators and founders through several rounds of the Pakistan Prime Minister Nationalist Innovation Awards. The team made it all the way to the final PM Investor round!

Collaboration and accountability challenges. The questions and dialogue around,

1. How long do you push to get commitment? When do you walk?
2. What does a mutually beneficial collaboration look like?
3. What does commitment look like from a time, financial, resource and legal standpoint.

We shared multitudes of ways with which to prioritize mental well-being whether you are a busy mom and founder or without family responsibilities. The biggest take-away: make time for yourself first - even if it is 30 minutes outside, a cup of coffee or tea when no one else is awake.

??????? ESG Channel

?? ???? Branding & Marketing

Tips and myth busters

Be this founder and don’t ask any experts to advise you on fundraising, coz it’s you #1 job.

Good luck with that!

?? If you are a startup founder that is looking for actionable and candid pointers to get **it done, join us here: ??.?https://bit.ly/45XlZ0S

For the ?? of startups.