In a landmark move for the country’s nascent technology sector, the Syria Angels Network (SAN) has officially launched with an initial capital of $10 million. The initiative aims to catalyze innovation and support entrepreneurs by providing critical early-stage funding and mentorship to startups and small to medium-sized enterprises (SMEs) across Syria.
A Mission to Bridge the Funding Gap
The launch of the Syria Angels Network marks a significant milestone in the effort to build a resilient and modern entrepreneurial ecosystem in the country. SAN was established by a group of prominent Syrian business leaders and experts, both within Syria and from the diaspora, to address the critical funding gap that hinders the growth of innovative ideas into viable businesses. Fadi Al-Atrash, the CEO of the network, emphasized that SAN’s primary mission is to invest in promising early-stage projects and transform creative concepts into successful, scalable companies that can contribute to the national economy.
More Than Just Capital
Beyond providing financial backing, SAN is structured to deliver comprehensive support to its portfolio companies. The network will leverage the extensive experience of its members to offer invaluable mentorship, strategic guidance, and access to crucial professional networks. This holistic approach is designed to equip Syrian entrepreneurs with the tools and knowledge necessary to navigate the challenges of building a business, fostering a culture of innovation and sustainable growth. The initiative is backed by the Syrian Computer Society (SCS), with its Chairperson, Rania Al-Zarir, highlighting the network’s role in advancing digital transformation and building a knowledge-based economy.
The Driving Force
The network’s foundation is built on the collaborative effort of its founders. Muhammad Al-Jallali, Chairman of SAN’s Board of Trustees, noted that the initiative unites the capabilities and resources of successful Syrian business figures who are committed to nurturing the next generation of entrepreneurs. This collective of angel investors will actively screen and select high-potential startups, providing them with a direct pathway to capital and expertise. The launch event, held at the Damascus Sheraton Hotel, was attended by key government and industry figures, including Dr. Amr Salem, the Minister of Internal Trade and Consumer Protection, who lauded the private sector initiative as vital for economic development.
About Syria Angels Network (SAN)
The Syria Angels Network (SAN) is a private, non-profit joint-stock company dedicated to investing in and supporting Syrian startups and SMEs. Its core objective is to identify and fund innovative projects, particularly in the technology sector, while providing mentorship and market access to help them succeed. The network connects entrepreneurs with a pool of experienced angel investors committed to fostering innovation and driving economic growth in Syria.
Looking Ahead
The establishment of the Syria Angels Network is a powerful signal of confidence in the potential of the country’s local talent. By injecting $10 million in initial capital and, more importantly, a wealth of expertise into the ecosystem, SAN is poised to become a cornerstone of Syria’s emerging startup scene. For founders, this opens up an unprecedented opportunity for funding and support, potentially unlocking a new wave of technological innovation and economic revitalization within the country.
Source: Al Wehda
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