Source : Worldbulletin.net / 31 Oct 2013

London's mayor Boris Johnson has announced that the government plans to create a £100 million fund for Islamic technology entrepreneurs to set up their businesses in the UK. He proposed the plan at the World Islamic Economic Forum in London on Tuesday.

“Britain is a global hub for the tech industry, while the Islamic world has young entrepreneurs with ambitious ideas,” he was quoted as saying by The National.

The Quantum Capital financial firm is playing a leading role in setting up the fund, which aims to link the UK with countries like the UAE, Saudi Arabia and Malaysia. Entrepreneurs from the Middle-East will also be encouraged to come to the technology centers where they will learn skills that they could take back to their countries.

According to The National, administrators have already contacted the UAE based organization, the Emirates Foundation for Youth Development, which helps young entrepreneurs set up their own businesses.