Abu Dhabi: The critical role of early-stage investor support in the startup ecosystem was highlighted during a 10-team Startup Pitch Competition, hosted on the final day of the HCT InnCuVation Forum 2021, held during UAE Innovates 2021.
Ten student-run entrepreneurial ventures were showcased in the fast-paced competition to a panel of judges, composed of the members of the Emirates Angel Investors Association, and a large online audience of students, faculty and keen entrepreneurs. The distinguished judging panel was comprised of Ms. Maha Al Fahim, the Founder of Highwater Venture Partners; Mr. Mana Al Suwaidi, the Executive Chairman of STRATEGI Advisors; and Mr. Tom Rebollini, CFO of the Emirates Consortium LLC.
Mr. Masaood Al Masaood, Chairman of the Emirates Angel Investors Association, gave an inspiring keynote address to set the scene for the interactive presentations. An HCT graduate, Mr. Al Masaood shared his insights into the emerging angel investing and the Association he founded in 2020.
“The Association brings like-minded people who are interested in the field of angel investing under one umbrella. Angel Investing is relatively new to the region and the idea is like ‘birds of a feather flock together’, the more like-minded people you have on your team, the more you are likely to succeed. Just like a startup; it’s all about the team dynamics and in our case the interaction within the Association.” he said.
“Angel investors are very important to startups. They are experienced people who work in different industries and can add a lot of value to start-ups, which have the idea, the passion and energy but they might need guidance, seed funding and other form of strategic and operational support. Connecting to an angels’ network is very important to startups,” he added.
He affirmed that all 10 of Startup Pitch Day competitors deserved continued support in their ventures. “The Association’s slogan is ‘Investing in the Future’. It’s a dream we seek with you. The entrepreneurs for the competition are the future. You are the champions,” Mr. Masaood said.
“Failure for us should not be a taboo. If you stumble once you stand and continue you path. I invite my colleagues of the Association to support the startups here and the amazing entrepreneurs who are leading them” he added.
Mr. Nicola Bettio, HCT Executive Director of Applied Research, Innovation & Entrepreneurship, applauded the work of the Emirates Angel Investors Association’s in the UAE entrepreneurial ecosystem. “This joint initiative with the Association is one of many to come. Mr. Masaood and the members of the EAIA have a genuine passion for startups, and we are proud to cooperate to strengthen Emirati entrepreneurship among the young generations. Angel investors are a key component of any mature and well-working startup ecosystem,” he said.
“E-Fate”, a student-operated company, promoting sustainability and energy efficiency through the collection of electronic waste was named the winner of the Startup Pitch Day competition. The other top winners were “3D Design & Printing” (3DCP) in 2nd place and “Match My Skin” in 3rd place.
E-Fate, launched in 2019, is specialized in managing and collecting electronic waste from urban communities and large and medium sized companies. Company spokesman, Mohamed Al Hammadi, explained that the company is targeting to collect more than 100 tons of e-waste in 2021. The aim of E-Fate is to play a substantial role in positioning the UAE as a leader in the field of recycling.
The startup 3DCP provides technology solutions for the design of 3D printed buildings (in particular thermal insulation). Company representative Abdulla Al Suwaidi said the concept utilizes unique patterns and designs to minimize the materials being used in construction projects, ensuring low thermal conductivity of walls while preserving their structural integrity.
Match my Skin offers health and wellness services, particularly cosmetics and skin care, via an AI and AR mobile App. Customers will be able to find the most suitable foundation and skin care products based on their skin type.
Mr. Bettio said the unbridled success of HCT’s inaugural InnCuVation Forum 2021, not only highlighted the innovation culture within the institution but enhanced its commitment to embedding an entrepreneurial mindset within its student body. “This will be achieved by ensuring HCT continues to incubate and launching startups and generate innovation, with economic impact, in the coming years,” he said.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
