| Kippreport.com

First pitching session for young entrepreneurs with Bedaya investors network

August 9, 2009 12:00 by Aarti Nagraj

Ten angel investors have attended the pitching presentations of preselected startups as part of the first match-making event for the newly launched investors network “Bedaya”. The entrepreneurs were given 20 minutes to present their project and explain why they were willing to welcome external investors in their company. They were then facing a 20 minutes question time from the business angels who were interested in better understanding their concept, their business development strategy, their market and most importantly, what the money they could invest would be using at.

The Bedaya network has been launched in a special event last May under the patronage of HRH Princess Sumaya bint El Hassan at El Hassan Science City. The launch has attracted over 30 prominent Jordanian investors, business leaders and others representing organizations that cultivate economic growth. The founding institutions of the Bedaya are: the Queen Rania Center for Entrepreneurship, the iPark business incubator and the Arab Science and Technology Foundation. Noteworthy, It has been supported by the European program Medibtikar.

As part of the members of the network is Dr. Usama Fayyad – the X-board member of Yahoo and world class serial entrepreneur- who has emphasized on the necessity of establishing such network, by saying: “This is the right time to establish such network due to the huge need for startup funding in this part of the world”.

The impetus of the creation of Bedaya is to offer national financing vehicles for innovative business start-ups as part of the El Hassan Science City’s mandate to foster knowledge-based enterprises with a promising potential for growth. The network will offer investments for early stage start-ups with a focus on science and technology.

The process starts by selecting entrepreneurs who are looking for funding and presenting the most ready ones every two months during pitching sessions to an audience of business angels. Business angels are private individual willing to investing their own money into high growth potential starting companies. But business angels do not offer only money to the entrepreneurs. Since these investors are usually successful entrepreneurs themselves, they will bring their experience and personal business network to the companies they invest in, which is an invaluable asset and success guarantee for the entrepreneur.

Before pitching to investors, the entrepreneurs have received special full-day training and coaching by Mr. Nelson Grey, a seasonal expert on business angel investments. He stressed on the importance of designing such infrastructure in Jordan in order to pave the way for a strong knowledge-based economy.

The next Bedaya pitching session is planned to happen during October. Interested business angel investors and entrepreneurs are welcome to contact the network to participate.

 

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About Queen Rania Center for Entrepreneurship

Queen Rania Center for Entrepreneurship is a non-profit and non-governmental organization that has played a pivotal role in supporting the knowledge-based economy in Jordan and the region. The QRCE is part of El Hassan Science City, located in Jubaiha, Jordan, which includes Princess Sumaya University for Technology (PSUT), The Royal Scientific Society (RSS), and the Higher Council for Science and Technology (HCST).