Dubai's entrepreneurs reflect on MAKE Business Hub's acquisition by CeeCee Holding
From its inception, MAKE Business Hub has been a co-working space built for startups. With artfully curved seating, electrical jacks next to every seat, a hip menu, and a series of books on technology, design, and startup philosophy lying around, the place caters to Dubai’s rising entrepreneurs- you’d be hard pressed to find one that hasn’t taken a meeting at MAKE.
“It's pretty much the University Cafe or Coopa Cafe of Dubai,” says David Haddad, founder of Press Pass, referring to two beloved investor and entrepreneur haunts in Palo Alto, California. At MAKE, people, well, make things, he says: “Startups are launched, collaborations are started, feedback is solicited, information is exchanged, news is discussed, and things are created.”
Yet in the past year, MAKE has become far more than a café where
deals are made and broken; it’s also become an entrepreneurship
education hub.
With its MAKE Ignition series, the co-working space put Dubai’s
tech founders on display in pitch events, even bridging worlds by
hosting Silicon Valley incubator 500Startups for an evening. And
with its Founders Dinners and Startup Grind series, the space
brought founders from
Astrolabs,
Duplays, and
JadoPado out to share their advice with fellow
entrepreneurs.
The space was led by
Leith Matthews, an entrepreneur originally from Australia, who
came to Dubai with a passion for food and beverage businesses. Only
when he began brainstorming startup ideas in cafés did he realize
that the coffeeshops themselves were sorely underserving
entrepreneurs and creatives. In 2010, he decided to quit his job
and launched MAKE in the Jumeirah Beach Residence area of Dubai the
next year.
Now, two years after its launch, the company has reached a
destination that most startup founders dream of: it’s been
acquired. “CeeCee Holding has acquired my equity in the business,
and I will be passing over management and leadership of the
business to them in the coming weeks,” Matthews wrote in an
official
announcement.
Matthews has been elusive since the time of the announcement; we
haven’t been able to get through to him for a comment. But we have
assumed he’ll be continuing to run Restronaut,
his new venture that unites foodies and founders to talk shop over
cozy meals in Dubai.
Dubai's entrepreneurs weigh in
On the whole, the Dubai entrepreneurs we spoke to said they would
miss Matthews’s touch at MAKE, but that it was a positive moment
for Dubai and spoke to his hard work.
“I think Leith's story is a testament to how a solid concept and
top-notch execution make for a success story,” said Rabih Brair of
tandem, an SME support consultancy based in Dubai. “Any transaction
is good for the ecosystem, but this is perhaps even more relevant
because it catered to the budding entrepreneurs of Dubai.”
“Leith will keep creating outstanding businesses; it’s clear
that he is an ambitious and creative person,” said LouLou Khazen of
Nabbesh, an online skills exchange community. “He already built
MAKE on strong fundamentals of great service, hip ambiance, unique
events and not to forget the great food! Now that he ‘made it
happen,’ it's time for him to build something else in a true
entrepreneurial spirit.”
Her colleague at Nabbesh, Alex Tohme, will miss the dose of warmth
in a transient city. “Many people felt they had a personal
connection with the venue because of Leith and his attention to the
regulars, which is unique in a city like Dubai: in many places you
feel like just another customer. He's an inspiration and will be
missed.”
It’s a unique story, agrees, Haddad, whose startup, Press Pass,
helps businesses and individuals pitch stories to
journalists.
“In a very short time, Leith was able to create a brand that is
pretty much unmatched in the UAE when it comes to entrepreneurship
and creativity,” he said.
“A few years from now, if you were to look at some of the success stories and ask their founders were they were when they were starting you would hear many of them uttering a four letter word that starts with the letter M.”
When it comes to the acquisition, says Haddad, there’s an up and
downside. “There's such a strong association between Leith and Make
that everyone is uncertain what will happen with Leith out of the
picture. However, on the upside, he did such a great job with
branding and operating the business that with its current inertia
the new owners would have to screw up in a major way to change the
fate of the company.”
The current team clearly already has their nose to the grindstone
handling the transition. “We are concentrating 100% on bringing the
new management up to speed and possibly closing down for some
refurbishments,” said Tai Sariban.
We know you all love MAKE, but if they’re going under
construction, what's on your wish list?