According to renowned medical scientist Hayat Sindi advised that better investment is needed in science and technology entrepeneurs in the Gulf region to foster inventing talent. The scientist, whose major contributions are in the fields of diagnostics and biotechnology have been internationally recognized, said many lament the dearth of investors that hail from the Middle East.
According to Sindi in an interview published in Arabian Business, "What is based on science and technology is frightening, because people don't want to touch that investment, they want to touch something they understand." Sindi was referring to the new concept of investment in scientific entrepreneurship.
She added, "It's understandable and logical- if you have miney you want to put it where you know best and science and technokogy was for so long far away from us."
She identified the number of reasons why the former pioneering region now had a phobia on start ups in the field of science and innovation. First was the lack of business skills in starting businesses in science and technology. Second was the relative newness of the VC culture and thirdly, there was no encouragement from the social side to foster inventiveness and investment.
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