Abu Dhabi: 55 percent of local angel investors are prioritizing the UAE over other global markets according to the latest research from startAD, the Abu Dhabi-based global accelerator anchored at NYU Abu Dhabi and powered by Tamkeen. The findings reveal the importance of the UAE for angel investors globally and demonstrates the attractiveness of the region for startups.
For investors, FinTech startups were their most significant priority, receiving 29 percent of investments. However, Artificial Intelligence is continuing to emerge in the UAE as a key source of interest for startup investors, with 18 percent of investors watching its development, signifying the future emergence of entrepreneurism in the UAE centered on machine learning.
The research was unveiled at last week’s Angel Rising Investor Education Symposium, organized in partnership with VentureSouq, which brought together esteemed global leaders. These included President and CEO of Ken Miller Capital, Ken Miller; CEO of China Silkroad Investment & Development Ltd., Winston Ma; Managing Partner of Structure Capital, Jillian Manus; Managing Director at Kalaari Capital, Vani Kola; and Founding Partner at CRE Venture Capital, Pule Taukobong, to discuss the future of angel investment in the UAE from a world-wide context. Panelists addressed audiences on the emergence of key markets such as India and China, and Africa and the role of the UAE in the future of the global economy.
The research profiled the typical angel investor in the UAE, whose average age is 42, which demonstrates that the UAE has a significantly younger angel investment circle compared to other nations, such as the US (58), the UK (57), and France (60+).
Angel Rising 2019 was supported by the Ministry of Economy, Etihad Airways, Latham & Watkins, Khalifa Fund, Abu Dhabi Global Market (ADGM), and UAE Exchange. For more information about the Symposium, please follow this link.
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About startAD
startAD is an Abu Dhabi-based global accelerator steering seed-stage technology startups to launch, develop, and scale their ventures. Anchored at NYU Abu Dhabi and powered by its partner Tamkeen, the accelerator equips startups to pilot solutions with industry leaders, while enabling corporates to innovate with startups disrupting their core businesses.
startAD has the unique domain expertise and state-of-the-art facilities to develop startups with a focus on hardware and AI, as well as other solutions in priority industries including aviation, energy, sustainability, construction, and security. Enrolled startups benefit from startAD’s extensive range of programs and global network of investors, mentors, and experts, in addition to access to startAD’s seed fund for local startups. Since startAD’s launch in 2016, participating startups have raised $8 million in investment, secured numerous pilot projects, and have been recognized with global design and product awards.
About Tamkeen
Tamkeen is a company that delivers projects to meet Abu Dhabi’s vision of knowledge-based development. This is achieved by collaborating with a variety of local and international institutions to enrich Abu Dhabi’s social, cultural and educational landscape in line with its Economic Vision 2030.
About NYU Abu Dhabi
NYU Abu Dhabi is the first comprehensive liberal arts and science campus in the Middle East to be operated abroad by a major American research university. NYU Abu Dhabi has integrated a highly-selective liberal arts, engineering and science curriculum with a world center for advanced research and scholarship enabling its students to succeed in an increasingly interdependent world and advance cooperation and progress on humanity’s shared challenges. NYU Abu Dhabi’s high-achieving students have come from 120 nations and speak over 120 languages. Together, NYU's campuses in New York, Abu Dhabi, and Shanghai form the backbone of a unique global university, giving faculty and students opportunities to experience varied learning environments and immersion in other cultures at one or more of the numerous study-abroad sites NYU maintains on six continents.
About VentureSouq
VentureSouq (“VSQ”) is an investment platform focused on global early-stage technology companies. Based in Dubai, VSQ provides access, education & services to MENA-based individual & institutional investors. To date, VSQ has made 65 investments into fast-growth companies across MENA, North America, South Asia, Sub-Saharan Africa, Europe & Asia. For more information please visit: www.venturesouq.com
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