Angel investors may not have wings or halos, but they can certainly be a godsend for startups struggling to take off and leverage off expert advice.
In Saudi Arabia, where entrepreneurs abound but lack support, Oqal angel investors group is giving projects like Ibrahim Jassim’s Hungerstation fertile ground in which to thrive.
Entrepreneurship has recently started to spread in KSA, but the lack of an ecosystem “slows down the process”, says Faris Al-Rashed, founder and Chairman of Oqal, the first of its kind in the country.
The project took shape at a gathering at AlRashed’s home. “After attending a lecture on entrepreneurship, I came up with the idea to create a group that supports entrepreneurial projects, and I found that all the attendees were excited to create a regular forum on entrepreneurship and to showcase distinctive new business ideas”, he says.
With several successful projects and over 150 members across different chapters in KSA, Oqal has consolidated a network of angel investors that get together in regular events in members’ homes to invite prominent speakers and source potential candidates for investment.
For more info – Oqal’s website.