The Proving Ground · by Wael Altorabi
Six months in the trenches. Then we decide what we build together.
An evergreen advisory-to-investment pipeline for early-stage founders in Saudi Arabia and the GCC. You pay for real operating work. If you prove yourself, the fee comes back and I invest or take equity. If you don't need capital, we keep scaling on retainer.
See founder scorecardsCo-Founder & CEO, Qewam (2020–2026) · Founder, The Startup Gate (acquired by Academi, 2019) · Founder of the Year 2026, Global Startup Awards Middle East Regional · Private Equity & Venture Capital, Università Bocconi
Capital got scarce. Execution didn't get easier.
$219M
raised, KSA H1 2026
74%
funding decline YoY
72
deals
41%
deal decline
When runway is harder to buy, operating discipline is what keeps you alive. Most founders don't need another cheque on day one. They need someone who has built and exited to sit next to them until the business actually works — and an investor who judges them on what they did, not what they pitched.
Source: MAGNiTT H1 2026 KSA ReviewWhat you actually get
This is hands-on operating advisory, not a coaching call. Every engagement runs on my Shred & Rebuild method.
I go through your market, competitors and numbers until I understand your sector as well as you do.
pricing, CAC, retention, margins, runway.
who you sell to, how, and what the first repeatable channel is.
how you're showing up as a founder, and the structure around you.
pitch narrative, financial model, data room, and investor targeting.
full access to the pitch deck, market-sizing and data-room trackers on this site, plus my AI twin between sessions.
Weekly working session · async access between sessions · monthly progress review with written actions.
I don't hand you answers. I ask until you find them.
- 1
Become the expert
I absorb your research, benchmark every competitor, and learn the sector fast.
- 2
Pitch it back
you pitch me your company. I listen for where confidence breaks and what you're avoiding.
- 3
Five whys
question after question until you see the real problem yourself. Insights you reach yourself stick.
- 4
Link the pattern
I connect your fix to patterns I've seen across the thousands of startups that went through Qewam, so you know what happens next.
The rolling 6-month sprint
No cohorts. Intake is open all year. Once accepted, we start within two weeks.
Month 1
Shred
full diagnosis, baseline metrics, 6-month scorecard agreed.
Month 2
Rebuild
business model, pricing and unit economics reworked.
Months 3–4
Execute
go-to-market sprints, revenue targets, team and ops fixes.
Month 5
Capital-ready
financial model, pitch narrative, data room.
Month 6
Selection gate
joint review against the scorecard. One of three paths activates.
Three ways this ends. All of them are good.
At month 6 we review your scorecard: execution speed, revenue traction, coachability, market size and founder–market fit. I'm not choosing from a fixed number of slots — every founder who proves it gets a path.
- Direct SAFE investment of up to SAR 187,500 (~US$50,000)
- 100% of your six months of retainer refunded
- Advisory shares for continued operating support
Best for: founders showing clear venture-scale potential
- No cash investment, but strong long-term alignment
- 100% of your six months of retainer refunded
- We move to advisory shares under a FAST agreement
Best for: strong operators where intellectual capital matters more than cash
- You don't need or want outside capital, or you prefer to keep your equity
- Engagement continues month to month at the same retainer
- Retainer is kept as fees for ongoing work
Best for: profitable or bootstrapped businesses focused on growth
How the money and equity work
- Retainer
- $3,000/mo
- Refund
- 100% on selection
- Investment
- SAFE up to SAR 187,500
- Vesting
- 2yr / 3mo cliff
Advisory shares are granted under the Founder/Advisor Standard Agreement (FAST), with the allocation agreed per company. All investment decisions are subject to due diligence, final agreement and applicable regulations.
Why this model works
Early-stage value is mostly uncertainty and flexibility, which traditional DCF valuation misses. Six months of working together resolves the biggest private risk — execution — before capital is committed, for both sides.
Advisory shares with vesting tie my upside to your long-term value, not to billable hours. Standard FAST terms keep it clean and cap-table friendly.
Studios act as operating co-founders but burn cash before any exit. A retainer-first model funds the operating work from day one, so selection is based on proof, not a pitch meeting.
The Proving Ground
6-month sprint, then Venture Partner, Equity Partner or Operator path
weekly working sessions · async access · monthly scorecard review · Founder's Compass tools · AI twin access · selection gate review
Selected Venture & Equity Partners get 100% of the sprint retainer refunded.
- pre-seed to seed stage
- Saudi Arabia or GCC based
- live product with early revenue or paid pilots
- you want to be challenged, not validated
- you can commit to weekly sessions
- you only want a cheque
- you want someone to agree with you
- you're still at idea stage with nothing built
- you're looking for a 30-minute advice call
FAQ
Ready to prove it?
Tell me what you've built. If it's a fit, we'll book an introductory 1-on-1 meeting.
The Proving Ground is an advisory service. Nothing on this page is an offer to sell or a solicitation to buy securities. Any investment is at Wael Altorabi's sole discretion and subject to due diligence, definitive agreements and applicable laws and regulations. Refund terms apply only to founders who complete the six-month sprint and are selected as Venture or Equity Partners.