Dr. Salim M. AlMalik, Director-General of the Islamic World Educational, Scientific and Cultural Organization (ICESCO), stressed the importance of supporting youth in the fields of innovation and creativity to build a better future for humanity and noted that youth constitute nearly 50% of the population in the Islamic world. Cognizant of these facts, ICESCO, with the support of its Member States, geared its programs and projects towards building the capacities of youth in the professions of tomorrow and preparing them to become entrepreneurs in the fields of technology and innovation.

These statements were part of Dr. AlMalik’s address during his participation in the proceedings of the 2023 World Business Angel Investment Forum (WBAF), held in Durban, South Africa, on 20-22 November in the presence of a host of ministers and high-profile officials worldwide, to strengthen investment and entrepreneurship mechanisms, devise solutions to the challenges facing entrepreneurs in financing and promoting innovation, as well as to ease access to financial services and improve financial literacy.

In a ministerial session themed “Global Dialogue to Promote Financial Inclusion and Startups’ Access to Financing,” Dr. AlMalik highlighted the significant role of youth in fostering innovation and creativity and the need to channel their energy toward building the future, in response to a question about angel investment in the Islamic world, stressing the need to support young entrepreneurs in the field of financial management, providing the necessary funding for the success of their projects, and preparing them to become angel investors.

In this connection, Dr. AlMalik reviewed ICESCO’s efforts to promote modern technology and innovation in entrepreneurship, with the support of its Member States, evidenced by the implementation of a set of activities, projects and programs, namely its program to train young people on creating and developing small technology and innovation projects to promote creative economy, and its youth-targeted training workshop on designing a model satellite (Cansat).

The Forum witnessed the signing of a cooperation agreement between ICESCO and WBAF, signed by Dr. AlMalik and Mr. Baybars Altuntas, Chairman of World Business Angels Investment Forum, aiming to contribute to the promotion of entrepreneurship and emerging economies through innovation and training young entrepreneurs, in addition to encouraging angel investment in the Islamic world, developing and organizing joint programs and activities for the benefit of youth in the Islamic world to contribute to achieving sustainable development.