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The city of London has witnessed the launch of an unprecedented business accelerator program “Relam Star” by the Emirati conglomerate “Relam Investment” which has launched the program aiming to support and encourage growing & emerging companies from all over the world in a number of vital economic areas with a promising future. The initiative represents a unique startups accelerator to fund and support growing companies worldwide, providing aspiring entrepreneurs with much more than just the funds they need, aiming to add value through the partnerships that will form with “Relam Star” to take them to the next level.
“Relam Star” was announced in the program's launch ceremony held last night, 30th of October, at the Natural History Museum in London. The program was launched by Sultan Ali Rashed Lootah, Chairman & MD of Relam Investment; Abdulla Ali Rashed Lootah, Chairperson of the Relam Star Program; founders of the company, in addition to Bob Doyle, Head of Inward Investment at London & Partners, who spoke about the innovative approach that “Relam Star” is following in attracting & choosing aspiring entrepreneurs, & emerging startups with high potentials of success, he also emphasized the importance of choosing London as a global tech & investment hub that represents a magnet to investors & entrepreneurs from all over the world.
The launch event consisted of a number of investment experts, entrepreneurship organizations, tech and investment companies and young entrepreneurs. In addition to the strategic partners of “Relam Star”, such as EMEA from Turkey, Venture Catalysts from India, World Nano Foundation, & Ecrek , the strategic partners from UK, L'Investment from Russia, The venture partners Coplex from The United States. Stalion the AI Partner from the UAE, the technical partner Hetachain from the Cayman Islands and the Vault & Partners are the consultancy partner from the UAE.
Michael Gord, HetaChain’s Advisor and CEO of MLG Blockchain, Canada, participated in the launch & commented: “Our team at MLG Blockchain is very excited to collaborate with the visionary team at Relam Star to build a global startup ecosystem that will power the launch of third generation Blockchain applications using HetaChain infrastructure”.
He added: “Offering the winning entrepreneurs in “Relam Star” Funding competition, full access to Hetachain’s platform will transform the way they are doing business & will take them to the next level of competitiveness”.
The business accelerator program “Relam Star” basically aims to support growing companies and overcome financial, managerial and technical obstacles facing companies and business entrepreneurs by providing the financial support to the companies in addition to providing a wide spectrum of solutions that would pave the road of success and boost the competitiveness among growing companies in sectors like fintech, fleet management, blockchain, artificial intelligence, sharing economy, and services.
“Relam Star” Program aims to select growing companies in those six areas after winning in the open competitions organized by “Relam Star” between growing companies from all over the world. The award is a full package of financial and tech support in the global tech sector. “Relam Star” is one of Relam Investment programs that aim to fund the promising companies after passing the different rounds of the competition to be selected to receive the fund.
The program allows the companies to participate in the competition online through the application in the website www.relamstar.com or through the partners of “Relam Star” applications as well. After the application, the companies will be filtered and interviewed by a dedicated team to evaluate them & review their feasibility studies.
“Relam Star” will open its office in London soon as one of “Relam Investment” companies active in many economic areas in throughout the world . “Relam Investment” is one of the fastest growing companies in many economic and business sectors, including real estates, petroleum, natural gas, healthcare, energy, industry, sports, education, water, agriculture, retail, and food and beverage. In addition, it also develops a number of comprehensive tech solutions contribute to boosting the efficiency of many areas, such as smart banking, e-commerce, business transactions, communications, data management, investment, and automated transfers. “Relam Investment” has offices in UAE, Vietnam and India, GCC countries, the United Kingdom, Turkey and Egypt to manage its investments and projects throughout the world.
“We at ‘Relam Investment’ believe that new ideas and innovations changing the shape of the world originate from the minds of young entrepreneurs,” said Sultan Ali Rashed Lootah, Chairman of Relam Investment in a comment on the launch of “Relam Star” Program. “We do not seek to attract well-established organizations or companies, but to attract new ideas that need a boost and the encouragement, especially nowadays, as we are witnessing worldwide major technical transformations in all sectors,” he added.
Abdulla Ali Rashed Lootah, co-founder of “Relam Investment”, said, “Relam Star will be a large leap in information technology thanks to the diversity in selecting the program's pillars and work mechanisms applied by the program. At ‘Relam Star’, we will provide entrepreneurs with a new business environment built on continuous sharing and development between the company and its funding partners through Relam Star.”
“The business model of ‘Relam Star’ focuses on sharing profits and risks with growing companies that we will select to support and boost their position in the markets and their competitiveness in the areas we decided to work on at the present time,” he added. “This kind of partnership we built our business model that creates the opportunity for establishing sustainable business relationships with no limited funding value. He added: “We see this as futuristic investment, not a speculation aims to achieve fast profit. We chose the British capital, London, to launch ‘Relam Star’ Program for its value as an international financial center, in addition to its value as one of the leading innovation centers in the world. In the future we will strengthen our presence be extending ‘Relam Star’ to other countries in the world.”
“Relam Star” Package for the growing companies includes a wide range of services, including but not limited to, funding, feasibility studies, markets, marketing research, and analysis of promoting and marketing plans to the companies that will win the competition. Moreover, the package includes use of the integrated accredited smart “Hetachain” technology of smart contracts, Heta cold wallets (for money saving) hot wallets (for expenditure), app store, enabling tools based on the technology of digital transactions (blockchain), and a set of comprehensive solutions that contribute to enhancing their applicability in the areas of smart banking, healthcare, e-commerce, business transactions, communications, data management, investment and transfers.
About Sultan Ali Rashed Lootah
Sultan Lootah comes from a distinguished and prominent family in Dubai where his father is Chairman of Nakheel - a leading prominent property development company owned by the Government of Dubai.
Sultan Lootah occupies the role of the Chairman and CEO of Hetachain and Managing partner of Vault Investments currently, as well as being the Chairman of Emirati- Norwegian chamber of commerce in Oslo and the Chairman of Vietgate General trading.
From 2012 to 2014 he was CEO of the Mohammed bin Rashed Al Maktoum foundation. He has also handled the role of Acting CEO and the Executive Director of Entrepreneurship Development at the Mohammed bin Rashid Al Maktoum Foundation from 2008-2012. As the Director of Information Technology in the Dubai Department of Economic Development, Mr. Lootah also played a key role in formulating the department’s strategy and bolstering its overall efficiency.
Sultan Lootah is a member of the Mohammed bin Rashid Programme for Leadership Development. Mr. Lootah holds a High Dip. in Business IT from the HCT and an Executive Diploma in Public Administration at the Lee Kuan Yew College, Singapore. He is also an EMBA holder from HCT and a recipient of the 2006 Dubai Government Excellence Award for Best Distinguished Government Employee.
About Relam Star:
The Relam Star is new technology program looking to invest $50m to boost and support innovative, emerging and scaling UK tech startups. The fund will also offer access to subject matter expertise to help accelerate growth and reach a wider global audience utilizing their extensive network in the Middle East, Far East, USA as well as Europe.
Relam Star recognizes the challenges of entrepreneurs with access to funding, an opportunity for assessment of their efforts as well as promotion and sales of their products. This program allows access to everyone to have access to this wonderful opportunity and support the mature and innovative startups in UK market. Eddison Knight is a partner with Relam Star with supporting this event.
The event was held on Tuesday 30th October at 7.30pm at The Natural History Museum, Earth Hall, Cromwell Road, London SW7 5BD.