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InnoVest Group to Establish Network of Technology Incubators in Middeleast and Eurasia Region - Press Release
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David Dastvar at the Investor Conference RELATED NEWS |
Many entrepreneurs, academics and technical experts in Middeleast, Eurasia and developing countries are faced with the challenges of sustaining and maintaining their Small and Medium Size Enterprises (SMEs), due to a lack of capital, technical and management assistance and business education and training.
In light of these challenges, InnoVest Group has decided to establish Technology business incubators in Middeleast and
The failure rate among start-up business is normally very high and so when they are on their own without these kinds of integrated support services, they often experience implementation problems which many are unable to address successfully and fail in the first couple of years.
Mr. David Dastvar, Managing Partner of the InnoVest Group – a technology investment and management consultant group based in
While the concept of a small business incubator is nothing new in countries such as the
The International SME Incubator House (ISI House) is not intended to be government managed. What the project envisages is that the International SME Incubator House will cooperate closely with government ministries, universities and R&D centers of excellence. Mr. Dastvar indicated that the International SME Incubator House will be university and TechnoPark based and will reflect the skills, resources, interests and aspirations of the country and region that serves. The ISI House will be demand driven, rather than supply driven.
Mr. Dastvar explains that as soon as the project is finalized, the appropriate Ministries, universities, business groups, and TechnoParks in the subject countries will be invited and consulted with regards to starting up the ISI House.
Dr. Nazemi, Managing Director of InnoVest Group explains that, "this ISI House came out of the thinking that the Universities needed to be actively addressing the issue of increasing innovation and technology in response to the economic shift from the natural resource based to more knowledge based services and goods, to be more globally competitive. It is out of this idea that the ISI House was born".
"The International SME Incubator House is a business incubator aimed at enabling the development of small to medium size enterprises and our focus is on technology related businesses. We also connect the start-up businesses to the sources of the venture capital, as this is one of the major challenges that young entrepreneurs face," she adds.
"We are happy to be a part of the process of entrepreneurial development in Middeleast and
InnoVest Group will be cooperating with organizations such as local universities, national academy of sciences, Azerbaijan National Science Foundation (ANSF) and The U.S. Civilian Research & Development Foundation (CRDF).
For more information please contact David Dastvar, he is the Managing partner of InnoVest Group, which provides strategy advisory, evaluation, investments and management consulting on regulatory, policy, infrastructural, E-government and Technopark projects to private sector, governments and multilateral organizations. Mr. Dastvar is also a member of national advisory board for George Washington University School of Engineering and Applied Sciences and the Council of Entrepreneurial Tech Transfer and Commercialization (CET2C). He is also member of MAVA,
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