The Mohammed bin Rashid Al Maktoum Foundation today announced 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.
The forum was held on the sidelines of the ExpoTech Technology Week, which was held in Ramallah from 2-6 November and 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 3–5 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.”
Jamil Daher, Chairman of the Palestine Information and Communications Technology Incubator (PICTI), said:
“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.
“This event is bound to change the Palestinian people’s perception about investing in entrepreneurs with early prototypes as much as it will 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.