The Pan Asian humanitarian organization DHA Foundation and Hong Kong based private equity firm Doyle Hutton Associates today announced plans to launch Gaza Revival as a standalone business accelerator in the Gaza Strip, the first of its kind.
Gaza Revival was initially funded as part of DHA Foundation’s Developer Network Initiative, through a generous donation. DHA Foundation currently hosts activities in the space, such as technology trainings and hackathons. These events bring Gaza developers together to try out their concepts and learn from one another.
DHA Foundation and Doyle Hutton Associates have combined forces in order to turn Gaza Revival into a true accelerator program to take the most promising business ideas to the next level. Six teams will be selected this fall as the first cohort for a three month intensive program. Each team will receive working capital, advanced technical training, and a global network of mentors to help them refine their business plans and prepare for a regional investor road show.
“The ICT environment has really started to heat up in the West Bank,” said John Lee, digital economy program director at DHA Foundation. “While the same levels of tech talent exist in Gaza, young people here have limited exposure to the outside world, and as a result their understanding of market opportunities is relatively constrained.”
Youth unemployment in Gaza stands at 58%, more than twice the regional average. Despite this fact, hundreds of Gaza youth graduate each year with degrees in information and communications technology (ICT). Gaza Revival sits at the center of a rapidly expanding technology entrepreneurship network.
“The talents of highly educated, highly motivated young people across the Middle East, and specifically in the Palestinian Territories, have been vastly underutilized,” said Tom Yan Huo, managing director of Doyle Hutton Associates. “We feel privileged to partner with a world class organization like DHA Foundation to make a fundamental difference in how people invest and support promising entrepreneurs in this region.”
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Although a fresh presence in the markets, Doyle Hutton Associates is a major Asian financial services provider with global presence engaged in financial advice for individual investor and corporate and wealth and investment management with an extensive focus on emerging markets and original investment opportunities. Doyle Hutton Associates invests and protects money for customers and clients worldwide. We employ one of the best team of financial professionals, whit extensive market experience and investing in people and technology we set forth the foundation of a unique financial company that offer premium services.
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