Innovate4Good, a marketplace that connects impact-driven start-ups and entrepreneurs with socially responsible investors, is organising an online Impact Investment Forum on March 24 and 25.
The event will be attended by angel investors, venture capital firms, institutional investors, family offices, technology start-ups, entrepreneurs, incubators and accelerators.
"The purpose of this forum is to create a platform to bring together like-minded and socially responsible thought leaders and impact-driven policymakers, investors, family businesses and entrepreneurs from the UAE and the wider Mena region," Ara Fernezian, founder and chief executive, Innovate4Good, told The National.
We want to drive the impact-driven conversation to inspire the private sector to be more involved and invest in impact-driven ventures
“We want to drive the impact-driven conversation to inspire the private sector to be more involved and invest in impact-driven ventures to help accelerate Mena’s impact entrepreneurship and innovation ecosystem in ways that can change the landscape of investing and enable positive growth.”
Global assets focused on environment, social and governance criteria are on track to exceed $53 trillion by 2025, according to a Bloomberg Intelligence report. The Covid-19 pandemic accelerated impact investment to more than $700 billion last year from $500bn in 2019, according to the Global Impact Investing Network.
“The reason for this growth in impact investment was mainly because of healthcare, education and agri-food related technology investments,” Mr Fernezian said.
However, the Mena region is still at an early stage of adopting impact investing strategies in investor portfolios and accounted for just 2 to 5 per cent of the global $710bn impact investment market in 2020, he said.
Other industries such as oil and gas and real estate still attract the bulk of all investments in the region, Mr Fernezian said. He highlighted how the UAE can play a significant role in creating a hub to attract international impact funds to support regional entrepreneurs.
“The United Nations’ sustainable development goals are off track globally. This is because only governments are pushing the agenda without help from the private sector. Family businesses and institutional investors need to be engaged as well,” he said.
Money managers are also facing greater pressure from investors, regulators and activists to direct capital toward business and activities that support a greener and fairer society, Mr Fernezian added.
The free-to-attend forum is being hosted by Stratecis in collaboration with Abu Dhabi Global Market, Israel-based accelerator Tech4Good and Middle East Venture Capital Association. More than 200 delegates are expected to attend the two-day forum.
The event will feature 20 speakers from the UAE, Israel, Singapore, Germany and South Africa. Speakers include Juma AlHameli, senior executive director, strategy and business development at ADGM; Sonia Weymuller, founding partner of VentureSouq; Saurabh Gupta, co-founder of Vistas Media Acquisition Company (a Nasdaq-listed special purpose acquisition company); and Mohamed Al Dhaheri, executive chairman of rainMKRS.
Speakers from Israel include Omri Boral and Nir Shimony, co-founders of Israel’s largest impact-driven accelerator Tech4Good, and Ran Grodecki, managing director of Bridges Israel, the country’s largest angel investment firm.
Some of the themes that will be discussed during the forum include: readiness of the Mena region in impact investing, role of special purpose acquisition companies in sustainability financing and women’s role in impact investing, among others.
Innovate4Good is also organising a pitch day on March 25 for eight impact-driven start-ups working in education, agriculture and health technology sectors to pitch their ideas to impact investors and raise funds.
Four start-ups participating on pitch day are from Israel, three are from the UAE and one is from Finland. They are mostly in their late seed stage and series A stage of funding, Mr Fernezian said.
The investment firms include VentureSouq, Global Ventures, Rainmkrs, The Catalyst accelerator from Masdar, Raed Ventures and Fortunis Capital.
Innovate4Good has helped start-ups in sectors such as BioTech, HealthTech, AgriTech, EdTech, sustainability and financial inclusion to raise up to $5 million by collaborating with incubators, accelerators, governments and corporations around the world.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
SPECS
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Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
More from Neighbourhood Watch:
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
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Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
COMPANY%20PROFILE
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SPECS
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Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
UAE currency: the story behind the money in your pockets
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
