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Sharjah is all set to create a grouping of angel investors for its next-gen startups. Now, who will make the cut to this by-invite only group? Image Credit: Supplied

Dubai: Sharjah is seeing a new 'angel investor' group come into being, formed by bringing together high networth individuals to fund startups. Those individuals selected to be part of Sharjah Angel Investors Network will be put through training to introduce them to the elements of such investments and how to diversify risks.

"We aspire to attract 30 investors in 2021 - this network will be limited to members only and based on an innovative system that runs according to well-thought-out plans as well as empowering emerging companies,” said Hussain Al Mahmoudi, CEO of Sharjah Research, Technology and Innovation Park (SRTI Park), which is creating the network.

Funds on tap

"Our network of Sharjah angels will boost access to investors and funds for companies and partners based at SRTI Park. In past two weeks, we have cemented our relationship with various strategic regional and local funds to facilitate startups and innovative SMEs access to funds.”

The chosen ones will also be taught how to negotiate terms of deals with entrepreneurs. In the next stage, investors will learn how to support emerging companies.