An ebuillent personality, well-known in media and banking services fields, Tariq Qureishy is currently the Founder and CEO of Vantage Holdings, which includes a Strategic Financial Advisory Consultancy, Vantage Ventures and Vantage Communications a specialist environment developing various international and local projects in the media, communication and broadcasting space.
He is on the Board of Intel Capital’s portfolio companies in Middle East as well as Executive Advisor in several companies in Technology, media and telecoms sector in the development of young companies. “We support organisations to build substance, depth and consistency in their business models. By focussing n innovation in everything we do and driving it through people and intelligent new processes, we help build businesses that fuel the regional knowledge economy,” he explains.
As the Publisher and CEO responsible for the launch of the UK Times and Sunday Times in the Arabian Gulf in 2007, he understands the challenges faced by quality media brands establishing a presence in the region. “Today, the content of media consumption styles are changing so rapidly with new technology and social networking that young people are ingesting content indiscriminately and “on the go”, like fast food, and this could have a negative effect on their ability to absorb quality research and in-depth analysis and therefore will affect their long term learning ability”, he warns. “However, the demise of newspapers is grossly exaggerated; the numbers in our region clearly validate that. Quality content, independent, well researched and well written editorial will always be in the demand, perhaps now more so, whatever the medium. The convergence of information, communication and technology will give us a much richer experience and completely change the way we relate to and consume media and content,” he feels.
As a strategic consultant, how can businesses maintain a competitive edge in a market somewhat dominated by large holding companies, which are often partially government owned? “The future of this region is in the hands of SME’s for new business ideas, jobs and building a sustainable marketing middle class. Innovation and flexibility are initial factors which must be promoted aggressively. We are helping to build an ecosphere with Venture Capital, specialist banks, private angel” investors and supported by government legislation and infrastructure to enable young companies to survive and thrive.”
He is convinced that paradoxically “Failure, in a young entrepreneurial company, is an integral component of future success. The reality of failure should become less primitive and scary than it is today with clear regulations and bankruptcy laws. Fostering a buoyant entrepreneurial atmosphere like in California and Ireland for instance must be built, looking at the full value chain from cradle to success. For instance, the cost structure and the visa and incorporation rules need to be revised. After all, many great companies come out of a garage or a home. To date, we honestly don’t have the facility of this important business model in our region.”