International Forum on Investing in Technology
The Arab Science and Technology Foundation (ASTF) is organizing the “Fourth International Forum on Investing in Technology.” The forum will be held in Kuwait City, April 10-11, 2006. The forum is co-sponsored by the National Technology Enterprises Company (NTEC), Abdul Latif Jameel Co. Ltd. (ALJ) and the Islamic Development Bank (IDB).
The fourth edition of the forum titled, “Developing an Arab Venture Capital Industry,” will offer presentations on 20 viable startup ideas grounded in sound business planning. Additionally, the forum will see the culmination of the ASTF “Arab Technology Business Plan Competition” with the announcement of the selected finalists. The winning business plan will be eligible for a minimum $50,000 investment to enable implementation. The competition is a first of its kind pan-Arab initiative that seeks to establish grass-roots technological innovation in a bid to boost the region’s competitiveness by fostering a knowledge-driven economy.
ASTF’s short-listed business plans include innovative mobile applications that empower subscribers with relevant information based on their location of access, enabling technologies in the field of human computer-interaction and ubiquitous computing, a bid to produce silicon-based anti-foaming, lubricants, polymers, etc. from cheap silicon raw material available in Iraq, low-cost three-dimensional (3D) range cameras targeting automatic guided vehicles (AGV) and ground vehicles markets, and a UAE-conceptualized mobility platform that will aid in creating, deploying, controlling, and managing next-generation mobile applications.
The forum seeks to facilitate networking between technology leaders, corporations, investors, venture capital funds and other financial institutions to stimulate further investment in new technologies in the region, and will host discussion panels highlighting the importance of technological investment in promoting economic expansion.
Commenting on the technology investment forum, Dr. Abdalla Abdul Aziz Al-Najjar, president, ASTF, said: “Technology entrepreneurship is a key driver of regional diversification. Sustainable economic development and robust infrastructure requires the judicious channeling of regional liquidity toward long-term investments in technological initiatives. We expect the forum to play a key role in facilitating investment in the fields of information technology, communication, transportation, biotechnology, medical instrumentation, engineering and oil and gas services, thereby setting the stage for viable long-term regional growth.”
The “Developing an Arab Venture Capital Industry” forum will kick off with a first-day workshop on the need for due diligence in evaluating technology investments, headed by Mathew Pedley, general partner of Minah Ventures. Jim Morrison, founder and CEO of the UAE-headquartered, i-mate, is keynote speaker at the forum.
‘IBM and the Future of Work’ Podcast
The 11th podcast in the series “IBM and the Future of ...” has begun on the IBM investor website. The podcast is called “IBM and the Future of Work,” and is available at http://www.ibm.com/investor/viewpoint/podcast/27-03-06-1.phtml.
The podcast discusses how changing technology and demographics will affect patterns of work in developed and developing countries, and the emerging skills of the future. As work evolves, companies and employees will have to deal with the blurring of traditional boundaries between work and family life, between offices and remote locations, between manager and employee, and between nationalities and cultures in the global economy.
Firming Conditions in IT Spending
IDC forecasts that worldwide IT spending will increase by 6.3 percent in 2006, as economic stability in the US, Europe, and Japan combines with continued robust growth in emerging markets. Growth will be strongest in the software market at seven percent, while hardware and services are both expected to post overall growth of six percent this year.
“IDC expects the upgrade cycle to weaken somewhat, leading to slightly weaker overall growth in 2006,” said Juan Orozco, program manager, IT Markets and Strategies. “There will be greater momentum, however, in project-based spending and key application areas, including business intelligence and content management, as enterprises return to a focus on the front-end, strategic importance of technology.”
In the US, overall growth in 2006 will be 5.8 percent, a slight decline from the 6.4 percent expansion of 2005. Elsewhere, improving economic conditions are contributing to an enhanced outlook for IT spending in western Europe. where overall IT growth will reach six percent this year. Asia/Pacific (excluding Japan) will enjoy nine percent growth in 2006, led by double-digit spending gains in China (14 percent) and India (21 percent).
