Wind Beneath Their Wings

8/4/2019 Wind Beneath Their Wings

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o c t o b e r 2 0 1 1 QATAR TODAy 59

T A G T h I SI S

tarted in the UK in 1997, it connects entrepreneurs and small

and medium enterprises (SME) that are in need o a boost to

high net worth individuals (HNWI) who are willing to invest in

them.

Angels Den is now active outside o UK in Malaysia, Hong

Kong, and Singapore, and operates across the world via its web-

site. It makes its Middle East debut in Qatar this month. There

are around 4,800 Angels across the world-growing at 120 per

month, and over 16,000 business owners have registered with

the agency so ar.

Qatar Today speaks to Bill Morrow, Co-ounder o

Angels Den, to understand how the network unctions, and why

Qatar was chosen as the next stop, beore USA and Canada (to

be launched later this year).

When you started o, as an entrepreneur, what was your

greatest challenge? How does Angels Den address that?

My biggest challenge was nding those who I needed to help

me. The rst stage o the entrepreneurial journey is oten real-

ising that you cannot do it all yoursel. Angels’ Den helps makes

iT is noT enough To hAve A good ideA. WhAT

good ideAs need To MAke ThAT leAp froM

Mind To MATTer is A solid pAir of Wings.

Angels den does jusT ThAT.

enTrepreneurs

seT To MeeTTheir Angels

Wind beneaththeir wings

b y v a n i s a r a s W a t h i

T A

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QATAR TODAy o c t o b e r 2 0 1 160

T A G T h I SG T h I S

an imperect market slightly more perect. There are

a great many people looking or cash and a great many

with money and experience who cannot nd good

deals. We help both sides nd each other.

Why choose Qatar? Investments and unding

is not a big issue or Qatari investors... or so it

seems.

Qatar has a burgeoning enterprise community and

whilst there is no shortage o capital and a lot o com-

panies to invest in, HNWIs nd it hard to nd GOOD

companies to invest in.

On average we reject 93% o those who apply to

join us and THIS is the reason Angels join us, as we

maximise their minimal resource – Time.

We have seen that Qataris are keen to invest in their

country and are very keen to see those earlier stage

companies being given help, not to make the mistakes

that they themselves have made. Oten it is this men-

toring and advice that is AS valuable as the money.

Connections and amily are paramount in Qatar.

How does the mentoring work?

We nd that across the world, nothing concentrates

the mind more than putting your own money into a

deal. Oten more established business owners can

help a young company with support, direct advice

on business models, contacts and data. This is just as

valuable as the money to most growing businesses,

who otherwise would be destined to perpetuate the

mistakes others have made beore.

Do you think the concept o ‘angel investor’ will

appeal to Qataris? A lot o them run amily busi-

nesses, and may want to pump any surpluses

back into their own company.

The dirty little secret o angel investing is that the

Angels do not primarily invest or the returns. They

invest to give back to the community and help others.

Qatari society has been built, and is based on these

principles. We have been welcomed with open arms,

much as we have in Hong Kong, where a similar am-

ily bond exists.

We thrive in cultures that are not just concerned

about squeezing a monetary prot out o every deal.

There is a strong amily bond in Qatar and we haveseen that this extends to helping those who need the

capital to expand and the advice to grow. Not only

does this help the Angel, but also Qatar.

The Qatari Government recognises that a strong

enterprise culture o small growth companies drives

the economies o most non-oil dependant states and

has stated that it is keen to replicate this model; we

see Angels’ Den as contributing to this vision.

What kind o initial interest have you received

rom here?

Phenomenal interest rom both sides. About 27 An-

gels registered with us in our rst week and our rst

clinics, where we meet with business owners and give

them ree advice on how to maximise their chances

o nding unding, are lling up. Web trafc, rom

across the world, with an interest in our Qatar region,

is growing daily.

Would you be able to share the names o some

prominent Angel investors?

I cannot name individuals as condentiality is key

to our business, rom both sides. Most Angels do not

want to make it known that they are active investors

as their mail boxes would be inundated. We are now

bill morr ow,

co-founder of angels den

T A

If IT’S A QATARI

SEEkING fUND-

ING – whO wON’T

NEED A SPONSOR

– ThEN

MATChING wITh

AN ANGEL

INvESTOR wILL

DOUBTLESS

INCLUDE BOTh

PARTIES ‘ChECk-

ING OUT EACh

OThER’S fAMILy’.

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o c t o b e r 2 0 1 1 QATAR TODAy 61

T A G T h I SI S

the largest player in Europe and Asia, so we attract

most o the serious Angels who want to invest in the

best deals and who do not have time to meet with

them all.

Are there similar networks in the region?

Dubai has a ew small networks, but most are run as

social clubs or the Angels.

We attract HNWIs who want to make a dierence

and NOT just be seen as part o a group; who want to

invest not just their money but also give their experi-

ence and time to help those urther down the trail.

Do you see yoursel collaborating with existing

incubators or unding agencies?

Absolutely, across the world we help set up incuba-

tors and support numerous programs. What we have

is invaluable experience not necessarily about how

to run their business but WHAT Angels look or and

HOW to present yoursel.

Is this open to only nationals, or will expatriates will be included as well?

We welcome all business owners keen to help drive

the economy o Qatar. Business owners rom all

across the world have registered an interest in pitch-

ing in Qatar and Angels rom 34 countries have

already been to see what all the uss is about.

How involved will you be in the Qatar opera-

tions?

The Board o Angels Den has made a concrete com-

mitment to Qatar. We chose Qatar over Bahrain and

Dubai based on the welcome and the enlightended

responses that we received, so we hope to make

Qatar the hub or angel investment in The Gul.It is our youngest child but it will grow to orm an

important part o our amily.

Can you name a ew gratiying moments or

experiences?

There are too many to recount individually, but every

day we und at least one 'deal'.

However, to us, they are more than 'deals', we un-

derstand rst-hand the commitment, eort and tears

that the entrepreneurs have invested in their busi-

nesses. To nd another human being, in the shape o

an Angel, who shares these passions and vision is a

lie changing event. The Angels and each o our sta

are privleged to acilitate this marriage.

Which is the most common concern o entrepre-

neurs? And o investors?

Entrepreneurs are mostly concerned about cash

ow, and then secondly about cash ow and nally...

cash ow.

Investors are aced with many asset classes and

choices. We nd however that most successul Angels

do not invest JUST or the money. This is not philan-

thropy. The world is divided into those who have been

blessed with riches and who want to share their wis-

dom and those that, or whatever reasons are valid or

them, do not. I you just want to make money then I

suggest angel unding is not or you.

I read that most Angel investors will lose, rather

than earn money. How does that refect on the

success o an entrepreneur’s initiative?Most Angels do lose money, but then “most” Angels

invest or the wrong r easons. We run insights into ‘an-

gel investing’ or our Angels and we help them choose

what deal is right or them and why. Our processes

are by no means perect, but we do have valuable in-

sights into the investment process rom both sides,

which help skew the decision making to investing

in companies where Angels can add the most value.

Again I reiterate, i you just want to make money, in-

vest in property or derivatives. A small select group o

investors can see this distinction and want to make a

dierence to their country.

Under the auspices o which organisation will

Angels Den operate here? Angels’ Den is working under the auspices o a small

consultancy run by a Qatari and British partnership.

This organisation was established over three years

ago to sponsor and represent companies rom around

the world to do business in Qatar.

How will it work within the current,

sponsorship/partnership norms in the country?

Good question. It will depend on the status o the

company that comes seeking unding. I this is al-

ready established as a 51:49 partnership agreement

between Qatari and non-Qatari business partners,

then it may be that the non-Qatari will need to re-

lease some o their ownership shares – but as the An-gels’ Den arrangement is oten about prot-share and

not ownership it may be the entrepreneur sees that

the extra investment will lead to greater prot.

I the business is not yet sponsored here in Qatar,

it’s likely the Angels Den process will introduce them

to an investor who will also want to be their sponsor.

I it’s a Qatari seeking unding – who won’t need a

sponsor – then matching with an Angel investor will

doubtless include both parties ‘checking out each

other’s amily’.

But again that’s not so dierent rom anywhere else

in the world.

One o the opportunities or Angels Den in Qatar is

that the process oers a simple and rapid matching o

entrepreneurs to new investors/mentors.

This might be welcomed by those Qatari business-

men who are ‘sitting on’ a number o businesses which

may have stalled due to lack o unding and connec-

tions. Thus the Angels Den process could help release a

log-jam o dormant businesses in the region – as well as

introduce Qatar Entrepreneurs to investors

worldwide

follow

twitter.com/angelsdenqatar

wE hAvE SEEN

ThAT QATARIS

ARE kEEN TO

INvEST IN ThEIR

COUNTRy AND ARE

vERy kEEN TO SEE

ThOSE EARLIER

STAGE COMPANIES

BEING GIvEN hELP,

NOT TO MAkE ThEMISTAkES ThAT

ThEy ThEMSELvES

hAvE MADE.

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Wind Beneath Their Wings