Background: I completed my engineering degree from a tier 3 college in India and have been working as a software engineer in an early-stage startup in the UAE for the past 7 years.
I have always had a desire to start my own company, and though I attempted it twice in the past, unfortunately, those endeavors didn't succeed.
I neither have worked for a renowned company nor attended a prestigious college. Consequently, I also lack a strong professional network. This makes me wonder if pursuing an MBA from a reputable college would be beneficial for my entrepreneurial aspirations.
Before considering a costly move such as an MBA (see prior response here on why), I would do a thorough assessment of what the issue(s) with the previous two ventures are. Running your own business is the most direct way of learning how to do exactly that. Although having some strong brands and a deep network are great enablers to building your business (largely depends on the type of business as well), they are usually not the deciding factors separating success vs. failure.
I came from a business background and grew up around several family-owned small businesses. What I got from the business degree did not help as much in running my own company compared to performing well in a corporate job.
The knowledge gained from a business degree / MBA can all be learned at an accelerated pace online or through much cheaper alternatives.
There are also more effective and cheaper ways to build out your network (my network actually grew the most from activities outside of my job/school such as putting content out there and participating in communities such as here on Taro).
Final note: if your ultimate goal is to be an entrepreneur, don't get hung up on "signalling value" such as X company brand name, or Y tier company/school. Those are usually proxies that recruiters use to screen candidates for a job and usually not worth the effort to obtain since there are better alternatives to get what you want (customers, funding, partnerships, etc.)
I don't think an MBA will help if your goal is to do a high-growth software company. In fact, if you ever plan to come to Silicon Valley (you mentioned you're in the UAE), there's a general disdain for folks with an MBA.
However, the MBA is not without redeeming qualities. The main advice I tell anyone who wants to start a venture is to (1) find a good cofounder and (2) surround yourself with people who can inspire you and give you ideas. An MBA is one possible way to do that, although quite an expensive one.
You might have better luck building your network in a high-growth tech company, and you actually get paid!
Two other things worth mentioning:
Things like accounting or financial projections are completely irrelevant for me right now. We're just trying to keep the lights on :) I'm sure those skills are helpful for a larger company, but I don't see how they help in the early days of a software business.
Similar to school in most other cases in tech (Master's in CS and even undergrad) - I don't think pursuing more formal education is that helpful. For startups, it's even less helpful.
Startups, especially tech startups, break all the rules. We were told this all the time in Y Combinator (YC). There's a lot of things with startups (e.g. "Do things that don't scale" and "Do sales and marketing yourself before reaching PMF") that aren't intuitive. YC tells all of its startups these principles and so many YC founders still mess it up. Making a startup is something that is inherently hard to learn through traditional methods (e.g. reading books, taking classes) because of this.
If you want to maximize your chances of making a successful startup:
We recently made a playlist about how to effectively start a startup as well! Check it out here: [Taro Top 10] Entrepreneurship And Tech Startups