Gulf startups get ready for their close-up on reality TV

Unicorn Hunters

• ‘Shark Tank Dubai’ in 2nd season
• ‘Unicorn Hunters’ plans move to Gulf
• Aiming to broaden VC opportunities

First it was Shark Tank, now it’s Unicorn Hunters. Reality TV has become the latest pathway for Gulf startups to access venture capital. 

The second season of Shark Tank Dubai is airing now in the UAE – an Arabic version of the Dragons’ Den/Shark Tank format in which entrepreneurs make presentations to a panel of venture capitalists who decide whether or not to invest. 

Now the team behind Amazon Prime’s Unicorn Hunters is in talks to move the show to the Gulf – which could prove a big boost for green startups and female entrepreneurs.

“We believe in democratising the investment opportunities,” says Silvia Moschini, CEO of Unicorns Inc and a judge on the Unicorn Hunters show.

“Only 2 percent of venture capital money goes to female-led companies and this has nothing to do with women not wanting the money.”

Moschini says the production team plans to move from its home at CBS Television City in Los Angeles and is in “advanced talks” with Saudi and Qatari-owned media.

“We’re evaluating options to see which partners will be more interested in supporting the vision that we want to be a pillar of the economy.”  

Unicorn Hunters offers a twist on the Shark Tank formula in that the audience can also invest in the pitches that appeal to them, providing more of a crowdfunding feel. 

Shona Hind, who runs an organic mosquito repellent manufacturer called Free Me, sold a 50 percent stake to Emirati businessman Faisal Juma Belhoul for AED1.6 million ($440,000) through her appearance on Shark Tank Dubai. 

“Many small businesses are able to secure capital now and more platforms and social media awareness have enabled startups with huge potential to be visible to investors,” she says.

“I think every opportunity should be taken.” 

Many founders of green startups would agree. Some have warned that although the Gulf is awash with VC cash, most is going to artificial intelligence projects that offer investors quick gains rather than to clean tech and renewable energy. 

• Saudi Aramco’s VC unit to invest $100m in AI startups
• Dubai seeks 5,000 VCs to ignite startup funding
• $200m fund for Gulf startups launched by Saudi investors

Moschini says “the three countries that drive the region” – Saudi Arabia, the UAE and Qatar – each have “things that make them special and I’m interested in all of them for different reasons. 

“Our goal is to bridge the gap and help entrepreneurs go international. Entrepreneurs die because they don’t have money or support.”  

Gamification

Prashant Gulati, founder of the Dubai-based early stage investor Smart Start Fund, says this “gamification” can help startups, but he offers a note of caution about reality shows. 

“There has been a bit of criticism of the spectacle and scripted nature of at least some of the interactions, but the positive greatly outweighs the negative,” he says. 

“TV game shows like Shark Tank and now Unicorn Hunters have worked wonders to bring startups upfront in the conversation of normal people.”