A group of 10 Angel investors gathered in Jordan to attend the first match-making event for the newly created Bedaya Angel Network, where 20 pre-selected entrepreneurs got to pitch their projects to the investors.
Entrepreneurs were given 20 minutes to present their project and explain why they were looking for investment. Presentations were followed by another 20 minutes with questions from the attending Business Angels about their project’s details and concept, business development, the market for their project and what any eventually invested money would be used for.
The Bedaya Angel Network initiative was launched only a few months ago, in May of 2009, and has attracted over 30 important figures from the Jordanian investment, business and economic development communities.
The founding institutions of the Bedaya Angel Network are: the Queen Rania Center for Entrepreneurship, the iPark business incubator and the Arab Science and Technology Foundation. It is supported by the European program Medibtikar.
The goal behind the creation of Bedaya is to offer national financing vehicles for innovative business startups as part of the El Hassan Science City’s mandate to foster knowledge-based enterprises with a promising potential for growth. The network will be offering investments for early stage start-ups with a focus on science and technology.
The process starts with the selection of entrepreneurs who are looking for funding and giving the ones that are most ready the opportunity to pitch their projects to an audience of business angels at match-making events that should be held every 2 months.
Before pitching to investors, the entrepreneurs received special full-day training and coaching by Mr. Nelson Grey, a seasonal expert on business angel investments.
The next Bedaya pitching session is planned to happen next October.
[Business Angels are private individuals willing to invest their own money into high growth potential startups; not only offering money to the companies they invest in, but also a lot of experience and their personal business networks.]