Minister of Economy urges investors to support the entrepreneurial ecosystem in the UAE

Abu Dhabi, 22 May, 2017:  In partnership with the Ministry of Economy, the 3rd Annual Angel Rising Investor Education Symposium organized by startAD and VentureSouq saw local and global experts come together to discuss Global vs. Local Investing Perspectives in the context of creating a robust and flourishing entrepreneurial ecosystem in the UAE.

The symposium specifically sought to provide education on key topics related to Angel Investing, in order to demystify investments in start-ups and persuade investors to power the entrepreneurial landscape in the UAE.

Lending his support to the initiative, H.E. Eng. Sultan Al Mansoori, UAE Minister of Economy and Chairman of the SME Council, said “The UAE government has made innovation the core of its economic advancement and the road to knowledge economy. Today, the UAE has the best investment environment in the region and one of the best globally because of its cutting-edge infrastructure, ITC, strong governmental support for all economic sectors and an outstanding partnership with the private sector. Furthermore, international investors have been highly successful in setting up their companies in UAE to serve the entire region and many of them have become global companies exporting and providing services to 98 countries around the world from their UAE based companies.”  

“According to H.E. Abdulla Al Saleh, Undersecretary for Foreign Trade and Industry, Ministry of Economy, the UAE has a highly attractive and advanced investment environment for international investors and entrepreneurs, especially in technology, industry and innovation due to its competitive economy and legislations.”  

Anchored at NYU Abu Dhabi, startAD is committed to helping build the entrepreneurship ecosystem in the UAE.  “Angel investors play a crucial role in providing the platform for the early stage entrepreneurs to de-risk their ventures, as they cross the “valley of death”.  Our goal is to bring the "state of the art” processes and tools to help build a world class community of Angels in the UAE through our Angel Rising Symposium,” said Ramesh Jagannathan, vice provost for Entrepreneurship Development at NYU Abu Dhabi and managing director of startAD. 

“The growing number of participants at Angel Rising over the past 3 years is a testament to the increasing appetite for angel investing in the region. The symposium offers a comprehensive investor education platform to support investors in their journey. We will continue to strive to build, cultivate and educate a regional community of like-minded individuals who have an interest in investing in startups," commented Sonia Weymuller, Partner at VentureSouq.

Sabah Al Binali, private investor, former CIO of SHUAA Capital, Saud Al Nowais, Commercial Counselor for the UAE to the USA, Najla Al-Midfa, General Manager, Sheraa – Sharjah Entrepreneurship Center, Omar Christidis - CEO & Founder, ArabNet, Sharif El-Badawi, Partner, 500 Startups, Owen Davis - Managing Director NYC Seed Jeff Lynn, Co-Founder and CEO, Seedrs, Vikas Shah, Visiting Prof of Entrepreneurship, MIT Sloan School of Management and Naeem Zamindar, Pakistan Country Director and CEO, Acumen.