Making basic errors, skipping key steps can ruin hopes of a breakthrough, says tech entrepreneur Mirakhmedov
Tech startups hoping that 2025 can be their breakthrough year in an increasingly competitive Middle East market have been told to focus on solving real problems, and avoid elementary mistakes that can ruin their chance of success.
According to a MAGNiTT report, startups in the region raised $1.52 billion in funding last year, and a 14% rise in the number of investors and 10% increase in the deals volume were signs of resilience and growing investor confidence.
Supporting positive forecasts for 2025, Abdumalik Mirakhmedov, Co-founder of UAE tech venture company, Scalo Technologies, believes it could be a big year for tech founders who get the basics right.
“Starting a tech business is exciting but also incredibly challenging,” says Mirakhmedov. “It’s not just about having a great idea; it’s about turning that idea into a product or service people actually want, and building a company that can grow, and thrive in a competitive market.
“Founders must make sure that their product fixes something people genuinely care about. If it doesn’t solve a real problem, it won’t stick.”
Mirakhmedov says many startups get so caught up in their vision that they make basic errors, and skip essential steps, like validating their idea or understanding their market. Others burn through budgets too quickly, betting everything on short-term wins rather than sustainable growth.
“The reality is, there’s no one-size-fits-all blueprint for building a successful tech business,” he says. “However, there are some tried-and-true principles that can help you stay on track.
“It starts with focusing on solving real problems and understanding the needs of your customers. It’s about building a team you can rely on and creating a business model that can grow without breaking.
“Crucially also, it’s about managing your money wisely, because even the best idea won’t go far if you run out of cash, which is what brings so many promising startups to a premature end.”
Assuming a product will sell itself is a big mistake to be avoided, says Mirakhmedov. No matter how innovative it is, startups need a clear strategy to reach their audience. Similarly, waiting too long to launch can be just as harmful. His five key tips for tech founders are:
• Test before you invest: Start small with a basic version of your idea (an MVP) to see if people actually want it before spending too much time or money.
• Find the right people: Build a team of smart, passionate people who bring different skills to the table. Success is a group effort.
• Plan for growth: From the start, think about how your business can grow without breaking. Set up systems and processes that can handle more customers later.
• Watch your budget: Be smart with your money. Spend on what moves the needle for your business and avoid unnecessary expenses.
• Listen to customers: Your customers are your best guide. Ask for their feedback, learn from it, and keep improving your product.
