Dubai, United Arab Emirates (PRWEB) February 23, 2008
Content Syndicate® was recently selected as one amongst five companies by the Arab Business Angels Network (ABAN) from over 150 start-ups at the Dubai International Finance Centre. The five companies which represented a cross-section of verticals pitched their business plans to investors. This prestigious entrepreneurs-meet-investors event was attended by the region's influential high net worth individuals, investors, private equity firms, venture capitalists.
ABAN, backed by Dubai International Capital (DIC) as its founder and lead angel with support from Intel Capital and Dubai Silicon Oasis as corporate angels was set up to provide high potential entrepreneurial ventures with mentorship, networking and capital. This year's plan includes channelling US$10 million seed-capital fund into early-stage ventures and simultaneously creating new angel investor networks.
Speaking on the initiative, Maddy Reddy, Founder & CEO of Content Syndicate said, "ABAN provided us a great opportunity to showcase our unique content platform to the investment community. This further reiterates that with a solid business model that addresses a serious business need, you can be distinctive from the rest."
Content Syndicate has already successfully raised a substantial amount of seed capital from angel investors in US, UK, UAE and India within the first year of operations.
Prior to this, in September 2007, Content Syndicate was the only firm from the Middle East to be selected from over 260 companies across 40 countries for SeedCamp® London- a major initiative of Europe's top angel investors, venture capitalists and technology firms.
Angel investors are affluent individuals offering capital to start-up companies in exchange for ownership equity. Funding costs vary and, in addition to financial investment, angel investors also offer expertise, acumen and business networks. Angel investment is a common second round of financing for high-growth start-ups, and accounts in total for almost as much money invested annually as all venture capital funds combined, as but into more than ten times as many companies
Walid Hanna, CEO of ABAN said, "By building an angel investor network we hope to start to fill the equity gap currently faced by entrepreneurs attempting to launch their ventures. Angel investors would also provide the start-ups they invest in with a guiding hand that would greatly increase their chances of success."
Notes and media contacts
The Arab Business Angels Network (ABAN) was conceived by the Young Arab Leaders and Dubai Holding during the Clinton Initiative in September 2005, with Dubai International Capital as its founder and lead Angel. ABAN acts as a link between entrepreneurs and Angel Investors to foster high potential new ventures and to build a community of Angel Investors across the Arab world.
Established in 2004, DIC is an international investment company focused on both private equity and public equity. A wholly-owned subsidiary of Dubai Holding, DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments. Assets under management total over US$12 billion.
*For additional information: http://www.aban.ae / http://www.dic.ae
About Content Syndicate:
Content Syndicate's innovative Words on Demand® platform helps corporates and publishers from across the world to commission, distribute, buy and sell content that's exclusive, customised for their unique requirements in over 200 languages.
Content Syndicate is working on its vision to offer content services across platforms, media and languages. Founded in late 2006, CS is incorporated as independent entities in the US, UK, UAE and India.
*For additional information, high-resolution images and resources:
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