Tag: President Barack Obama

US Commits $455 Million For Five MENA Startup Investment Funds

MMM 4 Comments

OPICThe Board of Directors of the Overseas Private Investment Corporation (OPIC), an agency of the US government that invests in businesses in emerging markets, has approved a total of $455 million in financing to support the establishment of five private equity investment funds designed to invest in companies in the Middle East and North Africa (MENA), in response to an announcement made by President Obama last year. The five funds combined could potentially catalyze more than $2 billion of investment in the MENA region.

At a speech in Cairo in June 2009, President Obama announced that the United States would launch an investment fund to support technological development in Muslim-majority countries. OPIC responded last October by issuing a call for proposals to manage a Global Technology and Innovation Fund, intended to catalyze private sector investments that promote technological growth in OPIC-eligible countries Asia, the Middle East and Africa. The five funds approved were among 87 responses to the call.

Read More

Global Technology Forum 2010 – March 18th 2010

MMM 1 Comment

TechWadi, the leading networking association for Arab American professionals in the Technology industry, has announced a new conference under the title ‘Global Technology Forum 2010‘, which is a conference on entrepreneurship, venture capital, and a new initiative to accelerate the growth of both – in the Middle East as well as other emerging markets.

The event’s tagline is ‘Silicon Valley and the Middle East: Building a Successful Entrepreneurial Ecosystem,’ and will be held on Thursday March 18th 2010, at PlugandPlayTechCenter (440 N. Wolfe Rd. – Sunnyvale, CA 94085).

During his 2009 speech at Cairo University, President Barack Obama announced that the United States would launch a new fund to support technological development in Muslim-majority countries. As the next step in bringing that vision to reality, the Overseas Private Investment Corporation (OPIC) announced the creation of the Global Technology and Innovation Fund (GTIF).
TechWadi’s Global Technology Forum will focus on when and how GTIF will benefit the MENA countries, as well as highlight the rich business prospects the region offers investors.

A series of prominent panelists will provide insight into the current VC and entrepreneurial landscape while leading Arab American executives will share success stories showcasing the region’s talent. Other speakers will include successful local entrepreneurs who will address the region’s dire need for venture capital as well as prominent local investors who will speak to current initiatives and opportunities for expansion.

The Forum will be followed by a networking reception where participants may develop their own contacts and find new opportunities for advancement both in the United States and in the Middle East.

If you’re interested in attending the event, you can register here. Registration is $100 for TechWadi members and $150 for non-members.