Halal Angels Network is among the first to penetrate the $5 trillion global Halal consumer market and has teamed up with HalalNexus for the Singapore Market to support the Singaporean government, and organizations in Startups, Halal consumer market, Islamic finance to aspiring entrepreneurs.
The key focus areas Halal Fintech, Halal Foodtech, Halal Tourism, Ethical Finance, and Future Technologies. Singapore can be the gateway for Halal Startups.
They would host the Halal & Ethical Investment Summit post-COVID-19 pandemic in Singapore.
This would be part of series of Halal & Ethical Investment Summit to be held at strategic global locations to promote Halal & Ethical Investment & startups.
Due to Singapore’s government pro-business policies and initiatives, it has emerged as one of the best places in the world to do business, with access to investors not only from Singapore but from other parts of the world. For instance, venture capital firms such as 500 Startups, Golden Gate Ventures, Sequoia, etc also invest in Singapore-based startups. Singapore has emerged as a key startup hub in Asia because of its pro-business environment, efficient legal system, IT, transport, and communications infrastructure, corruption-free administration and stable political system.
Since independence, the Singaporean government, through Enterprise Singapore, has been promoting innovation and entrepreneurship by providing grants and other incentives for Startups. They would encourage the Startups within their network to capitalize on these opportunities.
Halal Angels Network was launched to promote innovation, entrepreneurship, and start-ups, and inspire investors across the world to tap into a sector that will be worth $9.71 trillion by 2025 (Reuters, 2019).
Sulaiman Harun founder of HalalNexus said “We are really excited about this partnership as we, HalalNexus, are part of the halal ecosystem. Halal Angels Network’s focus on halal startups and entrepreneurship will make it easy for us to connect and leverage with other like-minded startups, entrepreneurs and investors. Being also the founder of a halal startup that connects the key players in a halal digital ecosystem, we know how important and useful it is to get everyone integrated in a system for easy halal compliance. Furthermore, as Singapore is poised to capitalized on the over US$2.0 trillion Halal Market size in Asia Pacific region, it represents a huge opportunity for halal startups here.”
Indian American Dr. Tausif Malik, Founder of Halal Angels Network said, “With over 1.5 billion Muslims in the world, the Halal industry offers tremendous opportunities across the Middle East, North Africa and South Asia and South-East Asia. Based on the vision, experience, and expertise, we felt that HalalNexus Consulting is the right partner for the Singapore market and the region. Our partnership is to support the Singaporean government’s Startup initiatives and market opportunities to venture and tap the halal consumer market, both B2C and B2B.
Dr Malik also said that Singapore is one of the most developed economies with excellence in Finance, Logistics, Manufacturing, Information Technology and they would be open to working with government authorities, universities, businesses to promote Halal & Ethical startups in Singapore and create awareness for exports.
Malik concluded that we are currently conducting research about “Funding challenges by Singaporean Halal Food startups” and would conduct a series of research starting from Singapore regarding Halal Startups.
Dr. Asma Ashraf Khan, Research Associate for Halal Angels Network said that “We felt the need to conduct a series of research in Singapore pertaining to Halal & Startups, as Singapore has the best startup and halal ecosystem, which can be leveraged by startups, investors, entrepreneurs and organizations to launch their products and services regionally and internationally”.
Based on research, Halal Angels has proposed the idea that post-Brexit UK can reposition as the global hub & gateway to Ethical & Shariah Finance to the world. Halal Angels are moving its headquarters to the UK and this would help connect Global investors to startups across the globe and Singapore can also benefit from this.