Arab Business Angels and BBG form partnership

Dubai: The Arab Business Angels Network (Aban) and the British Business Group in Dubai and the Northern Emirates (BBG) have announced an alliance pooling resources and knowledge to promote entrepreneurialism, innovation and knowledge creation in the region.

Aban and BBG cemented their mutual commitment to building future business leaders with a strategic Letter of Intent (LoI), signed on September 25 at the Aban offices in the Dubai International Financial Centre.

Aban provides a platform for investors to identify entrepreneurs with strong business propositions and high investment growth potential. Equally, Aban serves entrepreneurs with advice, training, and support, as well as a means to source capital for ventures.

The BBG, which recently celebrated 20 years in the region, will use its expertise and knowledge to support Aban's goal of developing the entrepreneurs of today into the business leaders of tomorrow.

The alliance has been signed with the intention that Aban and BBG will continue to develop closer links for the mutual benefit of their respective members and the UAE community as a whole.

Entrepreneurial spirit

The announcement comes at the heels of the BBG's partnership with Young Arab Leaders (YAL), and further demonstrates the British business community's commitment to the growth and success of entrepreneurialism and small and medium enterprises (SMEs) in the region.

Aban, a UAE government initiative, was conceived by YAL at the Clinton Global Initiative in 2005 to specifically advance entrepreneurship in the Arab world.

"The BBG has been actively committed to the development of business leadership in the UAE for the past two decades," said BBG chairman Mark Beer. "Through our alliance with Aban, we continue to support the growth of entrepreneurialism, innovation and local knowledge creation.

"The Aban-BBG alliance will combine Aban's ability to find entrepreneurs the capital to explore and realise their creative ideas, while BBG members can provide the advice and wisdom needed for young business leaders to flourish," continued Beer.

Walid Hanna, chief executive officer at Aban, said, "We are delighted to join forces with the British Business Group to link British investors and entrepreneurs with peer Aban investors and entrepreneurs in the UAE.

"Through this exchange, Aban will expand its reach within the business community to better serve the regional economy by matching elite entrepreneurs in the Arab world with smart money from Angel investors in the country."