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100 Entrepreneurs Qualify for the Final Stage of Commercialization Tour

01-Nov-2012 | Source : AG-IP News | Visits : 7840
100 Entrepreneurs Qualify for the Final Stage of Commercialization Tour
Special to ag-IP-news Agency 

AMMAN - HE Dr. Talal Abu-Ghazaleh, chairman of Talal Abu-Ghazaleh Organization (TAG-Org) announced that the results of the commercialization tour in technology which was launched in Amman on June 19 resulted in receiving 100 applications from entrepreneurs and start up owners from five Arab countries Egypt, Jordan, Palestine, Saudi Arabia and Lebanon.

Abu-Ghazaleh stated that the United Nations Economic and Social Commission for Western Asia (ESCWA) Technology Center is the main lift for this vital project.

He stated that the best projects from each country qualified for the final stage and interviews with their owners were conducted by a panel and representatives of the partners to prepare the participants to meet the investment team (funders of the projects); HE Dr. Abu-Ghazaleh pointed out that most of the submitted projects centered on information and communication technologies, e-commerce, distance learning and renewable energy.

From his part, Dr. Fouad Mrad, CEO of the ESCWA Technology Center, stressed that one of the main results of the tour is to know the startup technology companies that seek to grow and expand.

Meanwhile, Dr. Wesam Al Rabadi, CEO of El Hassan Business Park, expressed his satisfaction not only for the large number of the submitted projects but also for the high quality and level of creativity of such projects.

Al Rabadi said that he is certain that members of the investment team will find a number of good investment opportunities among these projects.

HE Dr. Abu-Ghazaleh pointed out that a group of investors, Arab funding and financing institutions were invited to support this initiative and take part in the Tour through meeting with the entrepreneurs and directly discuss the potential investment opportunities. Interviews will start in Egypt on November 4, 2012, Amman November 5-6, 2012 and end in Lebanon on November 7, 2012. The team of investors will have a tour in Egypt, Jordan and Lebanon.

HE Abu-Ghazaleh stressed that the aim of the Commercialization Tour is to exploit the creative and innovative capacities in the five Arab countries at the ESCWA region by associating entrepreneurs in the fields of science and technology with a group of investors in the Arab region. The projects in each country will get the opportunity to be granted a fund that ranges between 100000 to 1000000 US dollars.

HE Abu-Ghazaleh underlined that this initiative came to implement the recommendations of the 2011 Licensing Opportunities Forum that was organized by LES-AC in cooperation with the Arab Science and Technology Foundation (ASTF) and the ESCWA Technology Center in Sharjah and attended by representative of international and regional institutions, organizations and companies.

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