Arab Science and Technology Foundation wraps up 5th Investing in Technology Forum

20 Arab technology start-ups attract international investors and business organisations

16 Dec 2007

Arab Science and Technology Foundation (ASTF), a UAE-based, independent, non-governmental and non-profit organisation that complements the scientific and technological efforts in the Arab world, has announced that it has recently successfully concluded the 5^th Investing in Technology Forum, which hosted another round of high-level discussions regarding the impact of technology on the region's economy.



Held in Jordan's capital Amman under the patronage of His Majesty King Abdullah II Bin Al Hussein, the Forum also showcased the finest Arab technology start-ups before an impressive line-up of international investors and business organisations, and honoured the winners of the 2^nd Arab Technology Business Plan Competition.



"The success of the 5^th Investing in Technology Forum bodes well for technology investments in the region, which are essential to the sustained growth of the Middle East’s economies. ASTF will continue to strengthen and build up the Forum, making it a matchless complementary program that will cultivate innovation, entrepreneurship and technological investments in the region,” said Dr. Abdalla Alnajjar, President, ASTF.



"The Arab world is increasingly becoming a popular investment destination because of its highly innovative ideas and business models. We are pleased that the Forum has become a venue of choice for high-level networking between investors and technological start-ups, and we are grateful to His Majesty King Abdullah of Jordan for the support that we have received,” added Dr. Alnajjar.



The Investing in Technology Forum also successfully brought together leading Arab investors, entrepreneurs, start-ups and support organizations to discuss the economic impact of science and technology, and develop new ideas for eliciting technology investments.  The Forum was punctuated by keynote speeches and presentations from 40 high-profile technology experts, while there were also two enlightening workshops conducted by prominent figures on IP Valuation and technology companies Funding.



“This Forum falls in line with ASTF efforts to bridge the gap between those who generate technology, and those who generate businesses and investments. The ultimate aim of this merger is to create strong, innovative, technology-based businesses able to compete worldwide.  Such linkages will consequently support further technology research and development, thus creating a much-needed momentum able to drive Arab economies into the new millennium.” said Farhan Kalaldeh, Investing in Technology Program Manager, ASTF.



Members of the investment and business community, including venture capital funds, private equity funds and investment banks, attended the high-profile Forum. Arab technology leaders and representatives of incubators and technology parks were also present to capitalize on the gathering's investment and networking opportunities.



ASTF co-organized the Forum with Islamic Development Bank, while the strategic partners included Jordan-based King Abdullah II Fund for Development, Queen Rania Centre for Entrepreneurship, Young Entrepreneurs Association, iPARK, and the UAE’s Arab Business Angels Network, and ALJ Community Services Programs from KSA. Catalyst Private Equity, Riyada Ventures and Talal Abu-Chazaleh Organization, all Jordan based, were event partners. Germany’s TVM Capital also supported the event, while UAE-based CNBC Arabiya and ABQ Zawya LLC were the media partners. The Jordanian organizations were supported to participate in this forum by the generous contribution of SABEQ program.