Supermodel-turned-businesswoman Tyra Banks will visit Abu Dhabi later this month as part of a delegation of female US technology entrepreneurs who will share their insights and explore the emirate as a gateway for global expansion of their companies.
The Women of Web3 delegation will be hosted by Access Abu Dhabi, an initiative powered by the Abu Dhabi Investment Office (Adio) and Maven Global that aims to help US companies led by women and minority entrepreneurs to expand in Abu Dhabi and serve as a gateway for the wider Middle East market, Adio said in a statement on Thursday.
Ms Banks will also headline the inaugural session of the Access Granted talk series on Thursday, May 26 in Abu Dhabi, where she will be joined by Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, the government entity overseeing Adio’s activities.
“With abundant opportunities for innovative businesses in Abu Dhabi, Adio is committed to supporting companies seeking growth in and from the emirate,” Mr Al Shorafa said.
“Access Abu Dhabi provides a gateway for entrepreneurs from all backgrounds to plug into an empowering, enabling ecosystem for business expansion to the Middle East.”
The programme is part of the emirate's strategy to convince global companies to set up their regional bases in Abu Dhabi. Its ambassador will be businessman Kevin O'Leary, the star of the business reality show Shark Tank.
Small and medium enterprises are the backbone of the UAE economy, comprising 98 per cent of the total companies operating in the country.
As of 2018, there were 54,234 SMEs in the UAE capital, of which 33,760 were micro, 18,945 were small and 1,529 were medium enterprises, according to the Statistics Centre Abu Dhabi.
The emirate’s recent steps to further enhance the economic climate and stimulate private establishments include reducing the number of requirements to start a business by 71 per cent and slashing business set-up fees by more than 90 per cent.
Abu Dhabi is focusing on using advanced technology to develop its non-oil sector and reduce its reliance on hydrocarbons. Adio is enabling private sector participation in the broader economy through public-private partnerships and by helping to attract foreign investment.
Ms Banks, a former fashion model, is now a media and business pioneer whose portfolio includes the production company, Bankable Productions, which has made shows such as The Tyra Banks Show and America’s Next Top Model.
Her latest business venture, premium ice cream brand Smize Cream, is gearing up to expand globally.
“The UAE has been really impressive when it comes to investing in innovation,” the former model said.
“I’m thrilled to be here to share my entrepreneurial journey, discuss strategy and explore how Abu Dhabi can be a part of its next big chapter.”
Ms Banks will discuss the opportunities and challenges that exist for women in business and technology, and how she plans to incorporate Web3 into her business model.
Speakers at the Access Granted event will also discuss opportunities for women in business in Abu Dhabi, the Adio statement added.
The delegation of female leaders in cryptocurrency, blockchain and other Web3 technologies will talk about the challenges, opportunities and future of this space, according to the statement. They will also meet cryptocurrency, blockchain and Web3 business leaders, and business set-up service providers to explore Abu Dhabi’s opportunities, Adio said.
As part of the Access Abu Dhabi programme, curated delegations of notable Americans will gain an insider's experience of Abu Dhabi’s advanced infrastructure, hyper connectivity, competitive talent pool, lifestyle and business opportunities.
These crucial groups will help to spread the word of the emirate’s advantages among their respective communities back home, Adio said.
The UAE and US have enjoyed strong ties for decades. The Emirates has been the top export market for US goods in the entire Mena region since 2009, with a value of $14.75 billion, according to the UAE Embassy in Washington.
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UAE currency: the story behind the money in your pockets
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Trolls World Tour
Directed by: Walt Dohrn, David Smith
Starring: Anna Kendrick, Justin Timberlake
Rating: 4 stars
The Bio
Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride
She is the eldest of 11 children, and has four brothers and six sisters.
Her dream is to meet with all of her friends online from around the world who supported her work throughout the years
Her favourite meal is pizza and stuffed vine leaves
She ams to improve her English and learn Japanese, which many animated programmes originate in
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
