By: Hyacinth Mascarenhas
Given the current economic climate it is often a daunting task for start-up companies to venture out into a playing field where even the big boys are beginning to falter. The need to share ideas, project business plans and raise capital to fund their enterprises is an integral part of the venture which social network Mubine is dedicated to facilitate.
A site designed to create a platform of collaboration between start-ups and investors, Mubine is working towards building a Silicon Valley for Muslims encouraging the development of innovative start-ups from the Muslim community.
Khalid Lanjeri, the owner and founder of Mubine, says the website was born from the realization that there was no ‘marketplace site’ for Muslim investors and start-up projects to seek funds to achieve their goals.
“The aim of Mubine is to contribute to sustainable development by facilitating financing projects in this domain as well as improve our current financial system by offering exchanges based on Islamic financial ethics that nowadays represent an alternative or complementary model,” Lanjeri said.
The social network is restricted to Islamically acceptable projects or “Shariah-compliant” projects which exclude those involving alcohol, non-halal food, gambling etc. Non-Muslims, however, are not excluded from Mubine.
“One of the main goals of Mubine is to encourage healthy exchanges between Muslims and non-Muslims in order to facilitate project funding,” Lanjeri said.
With a database consisting of 470 members regularly posting concepts, ideas and business plans, the seeds are already being sown with the hope of being plucked by the right investor.
“Mubine is the first platform that highlights entrepreneurship and promotes the creation of a professional network within the Muslim community,” Kahlani said. “I will not hesitate to share this great initiative with my colleagues and networks. I have already advised many young entrepreneurs and students interested in entrepreneurship to discover Mubine and its services.”
Mubine is currently working to increase the number of business summaries, partners and affiliated investors and eventually launch the Mubine Awards to reward the most innovative start-ups.
The network site aims to become a world reference for Muslim start-ups as a ‘funding facilitator’ and conclude partnerships with governments of developing countries to encourage investment and contributions to human development in order to build a better tomorrow.