We are proud to be a founding partner of the Mediterranean Business Angel Investment Network (MED Angels). The network aims to bring together business and angel investment stakeholders from across the region to support the area’s growing science and technology startup ecosystem. Working to remove barriers to trade and investment, the group will be a driving force of innovation and job creation in the region. The initiative was announced during the Techne Summit 2019, an international investment and entrepreneurship event, at Bibliotheca Alexandrina in Egypt.
The Mediterranean has a burgeoning startup ecosystem with the potential to become a leading innovation and entrepreneurship hub. The region’s potential can be realized if ecosystem stakeholders provide training, guidance, and resources to the early-stage innovators working to transform impactful inventions into scalable ventures. This activity also increases the likelihood for innovations that are relevant for and can be adopted by global markets, further spurring and accelerating growth of new ventures.
“For the last few years, VentureWell has been actively working to connect the science and tech startup ecosystem in the Middle East with access to capital and business mentorship through the GIST Investors Egypt program,” said Heath Naquin, VentureWell’s senior global and government liaison officer. “This partnership will take our collective efforts to the next level. The network will provide startups with funding opportunities and mentoring with business leaders. Angel investors will have new opportunities for cross-border investments, syndication and deal sharing with a wide range of startups with growth potential as well as vetted funding partners across borders.”
The first step for MED Angels is to coordinate with regional investors to raise funds to co-invest in a deal that is led by a MED Angels member network. Moving forward, MED Angels will launch an accelerator program and coordinate networking events throughout the region.
Here’s an inside look at the Techne Summit 2019.