Mohammed bin Rashid Al Maktoum Foundation and PICTI Launch the Technology Entrepreneurship Forum at the Expotech Technology Week in Ramallah |
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Technology Entrepreneurship Forum Identifies Seed Ventures for Funding Assistance from Individual and Institutional Investors
The Mohammed bin Rashid Al Maktoum Foundation today announced that the Technology Entrepreneurship Forum organized in collaboration with the Palestine Information and Communications Technology Incubator (PICTI), drew to a successful conclusion identifying seed ventures for potential funding assistance from institutional investors.
Held in Ramallah during ExpoTech Technology Week from 2 - 6 November, the event brought together companies and experts from the information and communications technology (ICT) sector in Palestine and abroad.
The Technology Entrepreneurship Forum saw emerging entrepreneurs and venture capitalists coming together for the match-making event that was held from the 3rd - 5th of November. Featuring product demos and concept presentations to a panel of business angels, the forum identified projects for 2009 that hold high potential for funding assistance from the visiting investors.
Adel Al Shared, Vice-Chairman and Managing Director of Mohammed bin Rashid Al Maktoum Foundation, said: "The Foundation's partnership with PICTI comes as part of our strategic approach to tie up with leading incubators in the region that encourage and promote entrepreneurship in the Arab World. The match-making event, which we are proud to initiate in collaboration with PICTI, has successfully opened new doors for job creation. In addition to serving as a platform for seeding business growth opportunities, it has also generated a knowledge-sharing network that will eventually benefit the overall economy of Palestine and strengthen its SME sector."
Mr. Laith Kassis, the CEO of the Palestine Information and Communications Technology Incubator (PICTI) advised: "The match-making event was the first of its kind in Palestine and the concept itself was a value added activity to the technology community in Palestine through the strategic partnership between PICTI and the Mohammed bin Rashid Al-Maktoum Foundation. I believe that this event is bound to change how the Palestinian people perceive investing in entrepreneurs with early prototypes as much as it would change the culture of young entrepreneurs to professionally start up their own companies in lieu of being professional job seekers.
ExpoTech presents a wide overview on the Palestinian Information Technology market. It offers a means to network and create business opportunities in the Palestinian or the entire Arab market through the Palestinian ICT companies and through investing in the region's most competitively positioned market.
The Mohammed bin Rashid Al Maktoum Foundation is a non-profit organisation that aims to drive the region towards becoming a knowledge economy. With a US$10 billion endowment, the Foundation seeks to identify and develop promising institutions and individuals for guiding the region towards economic and social progress.
-Ends-
© Press Release 2009
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