Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  

Young UAE-based Climate Tech Angel Investors Favor African and MENA Regions For Growth Potential Over More Established Markets

 
Young UAE-based Climate Tech Angel Investors Favor African and MENA Regions For Growth Potential Over More Established Markets
  • UAE-based investors are using the MENA region as a base to provide sustainability solutions across the India China Africa corridor, according to the annual Angel Rising Investor Trends Report from startAD and VentureSouq
  • The average age of participants is younger than their global counterparts and features a higher female ratio

 
Abu Dhabi, UAE, February 16, 2024: Angel investors based in the UAE with a focus on climate tech are more likely to favor Africa and the Middle East and North Africa (MENA) over the more established US, Asian, and European markets, according to the Investor Trends Report 2023. The report was produced by startAD, the Abu Dhabi-based startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi (NYUAD), and MENA-based venture capital firm VentureSouq.
 
According to the report's survey, the top three leading geographies for climate-related investment by UAE-based investors are Africa (23 percent), MENA (19 percent), and Asia (15 percent). In contrast, the  majority of global climate tech venture capital goes to the US (around 40 percent), followed by China (around 22 percent) and Europe (around 20 percent). The MENA region is the fourth-largest market, accounting for about 1.5-3 percent of global climate tech venture capital, while Africa is in fifth place at about 1-2 percent.

Meanwhile, the male-to-female investor ratio of 57 percent to 43 percent compares favorably with international averages. In the US, 22 percent of angel investors are female, while in the UK, it is 14 percent. At 42, the average age is also substantially younger than the 57.6 years old mean age of angel investors surveyed in the US, while the UK average is 55 years old.

Managing Director of startAD Ramesh Jagannathan said: 'Our Investor Trends Report reveals a young generation of savvy climate tech investors who are using the UAE as a base to serve the vast markets on our doorstep. The global consumer class is set to reach 5.2 billion people by 2030, of which over three billion will be in India, China, and Africa. The Mena region, led by the UAE, is at the nexus of this 'ICA Corridor', with Africa arguably ranking as the biggest potential growth story of the coming decades. A recent IEA report notes that Africa attracts just three percent of global energy investment yet accounts for one-fifth of the global population, while energy investment across the continent must double to over USD 200 billion per year by 2030 to achieve their energy-related development goals. Furthermore, a UN report highlighted the potential for African countries to leapfrog previous innovations using frontier technologies, helping them quickly advance to a more sustainable, equitable and profitable future. This potential can be further unlocked by the UAE's pledge of USD 4.5 billion to help speed up the development of clean energy projects in Africa, announced at COP28.'

Head of Public Affairs and Outreach at the US Consulate Daleya Uddin: 'The US Mission to the UAE is proud of its partnership with NYUAD-based startAD and VentureSouq to promote awareness and encourage investments in the Climate Tech startup ecosystem in the MENA region. The Department of State's Office of Global Partnership, in collaboration with founding and future partners of the Coalition for Climate Entrepreneurship (CCE) partnership, held a regional pitch competition in the US Center during COP28 to showcase women climate entrepreneurs with early-stage solutions ready to scale.  The event was an avenue to highlight climate entrepreneurs as well as to showcase our commitment to identifying and implementing climate solutions.  At COP28, Vice President Kamala Harris pledged an additional USD three billion to the Green Climate Fund.  We are encouraged by the 2023 Angel Rising Investor Trends Report's finding of increased investor interest in sustainability solutions.'

Managing Director of The Catalyst Suleiman Amin said: 'This year's Angel Rising event was a nexus where investment meets innovation, creating a ripple effect that transcends borders and accelerates the adoption of climate-tech for a sustainable future. The Global South is not just a developing region; it's a powerhouse of ideas. By collaborating and channeling resources strategically, we can unlock the true potential of climate-tech innovation together.'

As well as being more open to emerging market potential, the report revealed some other key differences between UAE-based angel investors and their global counterparts:

The younger age profile of investors is reflected in the highest average number of investments, which is one to three (42 percent) followed by five to 10 (26 percent) and then 20+ (20 percent). These figures suggest that investing is a relatively new venture for most respondents, reflected in their age profile.
This relative in-experience and youth is not necessarily reflected in the ticket sizes. The highest average is USD 100,001+ (44 percent) followed by USD 1-50,000 (29 percent) and USD 50,001-100,000 (21 percent). The median investment by angel investors in Europe is around USD 38,000 and USD 25,000 in the US. These numbers are reflected in the Asian region but with a broader range of tickets from USD 25,000 to USD 200,000.
The leading sectors for investment this year are roughly tied between cleantech (11 percent), AgTech (11 percent) and environmental tech (10 percent). This is a marked change from 2022 where foodtech came out on top (11 percent) followed by AgTech (10 percent), and ecommerce (9 percent), which this year fell to tenth place, perhaps reflecting the shift away in preoccupation from online innovation in the wake of the Covid-19 pandemic.
 

The Angel Rising Investor Trends Report 2023 is based on responses from 91 investors who took part in the annual Angel Rising summit last December. Aligned with the UAE's ambitions to achieve net-zero carbon emission by 2050, the eighth annual edition of Angel Rising was organized in partnership with The US Mission to the UAE and The Catalyst to support and invest in clean-tech startups that are creating and scaling solutions to address climate change. 

Angel Rising is targeted towards GCC-based family office funds, venture capitalists, angel investors, institutional investors, corporate and government investors, and stakeholders who are interested in investing in impact-driven technology startups that can bring positive change in the future of climate and the economy.

Over seven years, Angel Rising has convened 110 global experts, 3,100 participants, and reached 12 million people worldwide. Ecosystem partners for this edition include The UAE Independent Climate Change Accelerators and the European Women's Association.

For more information, please visit startad.ae/programs/angel-rising/.


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 14895 times
PR Category : Banking & Investments
Posted on : Friday, February 16, 2024  11:07:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Italy's Food and Beverage Exports to UAE Surge, Notching an ...
Next Story : UAE AI Office partners with Emirates Global Aluminium to acc...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Khabib's Official Training Gloves Will Be Sold at Tooba Charity Auction in Dubai [30611-Views]
Oliver rowland wins misano e-prix opener after antonio felix da costa disqualification [26072-Views]
Victory for Pascal Wehrlein after last Lap Heartbreak for Rowland [24395-Views]
Formula E and FIA to unveil new gen3 evo race car at upcoming monaco E-prix [21759-Views]
Hysek reveals iconic timepieces at Watches & Wonders 2024 [15842-Views]
Henry Jacques launches Collection de l'Atelier [13026-Views]
Nikai unveils next-generation Google TVs redefining home entertainment [9844-Views]
South Indian Cinema Megastars Rana Daggubati, Rockstar DSP Akul Balaji, Vijay Raghavendra,... [9532-Views]
Mansour bin Mohammed congratulates Hamdan bin Mohammed on the Qatar-UAE Super Shield crown [9168-Views]
Goodbye to the Grrr-Eight One: Jeep® Brand Announces 2024 Wrangler Rubicon 392 Final Editi... [7679-Views]
Kia wins prestigious 2024 Car Design Award for Brand Design Language with ‘Opposites Unit... [7528-Views]
Zone in with oakley® latch panel: Take Control Of The Chaos With New Lifestyle Sunglasses [6872-Views]
Parmigiani Fleurier – New TORIC Collection [6851-Views]
Swiss International School Dubai students get seven-star work experience at Burj Al Arab [6597-Views]
Eternal Elegance: Casadei Unveils The Enchanting 2024 Bridal Collection [6539-Views]
World Future Energy Summit Opens with Collective Call for Collaboration on ‘Pathway to 1.5... [6507-Views]
Hitachi Energy unveils cutting-edge solutions at Middle East Energy 2024 [6453-Views]
AUS secures top spots in academic and employer reputation in UAE, announces QS World Unive... [6195-Views]
Transform Your Kitchen With Lg's Next-Gen Instaview Oven Designed For The Modern Home [6142-Views]
How Not To be Lonely To Be At The Top: The Blueprint for Transformative Leadership [6027-Views]
Turkish Airlines closes 2023, carrying 83.4 million passengers with a 23.5% increase in do... [6019-Views]
Heritance Aarah Maldives: Your Summer Culinary Getaway [5945-Views]
Natuzzi Italia @ Milano Design Week 2024: The Circle Of Harmony – 65th Anniversary Collec... [5875-Views]
Dubai sports council issued a medal to appreciate the first line of defence heroes [5744-Views]
The English College Announces Leadership Transition and Reaffirms Commitment to Excellence [5588-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories