What is Annex Investments About?
It's a well-known fact that Small and Medium Enterprises (SMEs) play a pivotal role in shaping a state's economy. In fact, according to the World Bank, SMEs account for more than 90% of global businesses and employ more than 50% of the global labor force. But a thriving SME requires a stellar idea. And that's where Annex Investments comes in.
Acting as a bridge between innovative ideas and thoughtful execution, Annex Investments has been a pioneer in bringing in, embracing, and investing in the 'next big' ideas for the past 10 years.
Notable investments of the company include eMajlis, a professional social networking platform to connect and build valuable networks, Dukkantek, an initiative for digitizing the UAE’s SME sector, and Alma Health which streamlines the lives of patients with chronic illnesses and their caretakers.
Ahmed Nasser Al Nowais: The Brains Behind Annex Investments
A business is only as good as its human resource. And guiding this team is the UAE-based entrepreneur, Ahmed Nasser Al Nowais. A start-up attorney by profession, Ahmed has always been fascinated by how technology can be leveraged to address everyday problems.
His venture, Annex Investments, is a manifestation of this passion. He actively seeks ideas that have the potential to disrupt market norms and empower the local customer. Once identified, these innovative ideas are built from the ground up, funded for scaling, and offered mentorship and the right network.
Speaking of networking, Ahmed is a staunch believer in the importance of working with the right individuals. He believes that surrounding yourself with the right team is execution half done.
Say Hello to Dr. Abed Benaichouche
It is for this very reason that Annex Investments is bringing Dr. Abed Benaichouche on board as the company's new Chief Strategy Officer and Advisor. Specializing in AI and big data analytics, Abed holds a bachelor’s in Artificial Intelligence and Robotics from Ecole Nationale Polytechnique, a master’s in Computer Vision and Virtual Reality from the University of Évry Val d'Essonne, and a doctorate in Applied Mathematics and Data Science from École des Mines de Paris.
After earning his PhD, he worked on a multitude of data science projects with Total Energies, the French Geological Survey, and the French National Radioactive Waste Management Agency.
In 2018, he joined Group 42, the Abu Dhabi-based artificial intelligence and cloud computing company. In fact, he was among the first employees of this organization that aimed to spearhead the development of AI in various sectors of Middle Eastern economies.
Just a year later, in 2019, he co-founded AIQ, the artificial intelligence joint venture between the Abu Dhabi National Oil Company and the G42. In 3 years, AIQ achieved a unicorn valuation, built the UAE’s first commercial supercomputer, developed a big data platform for the oil & gas industry, commercialized numerous AI-enabled applications, and cemented strategic collaborations with Fortune 500 companies.
But that was just the beginning of Abed's love for all things startup. So, in 2022, he co-founded Convergaince, an applied artificial intelligence company which emerged out of the hallways of the Massachusetts Institute of Technology. In fact, MIT’s Sandbox Innovation Fund backed the Convergaince during its nascent stage.
Convergaince's core product, the Convergaince Low-Code AI Development Studio (CLADS) accelerates the creation of AI applications by up to 20X by automating the majority of design, development, and deployment tasks, accelerating customers’ digital transformations.
In democratizing AI applications’ development and dramatically improving product development teams’ efficiency, Convergaince is addressing the $8.5 trillion global technology talent shortage.
The Future of Annex Investments Looks Strong
It can be said that Abed is a visionary and a virtuoso at his craft. That alone makes him extremely like the team members who are currently driving excellence at Annex Investments.
But what really makes Abed a perfect match for Annex is his love for fostering and promoting innovation. We believe his monumental passion and stellar experience will help us perfect our Venture Builder.
This is an ecosystem where you'll meet the likes of Dr. Abed Benaichouche and Ahmed Nasser Al Nowais and under their disciplined mentorship and guidance, you'll immerse yourself in an environment that cares about your vision and work ideology and promotes forward-thinking.
All great businesses were once daring ideas. Join us as we help you scale this ambition to the moon!