The UK has rubber-stamped its reputation as Europe’s Islamic economy hub by hosting its first halal startup pitch event. Hosted by London-based venture capital firm Hambro Perks in mid-June, the event saw five prominent Islamic SMEs meet with investors to showcase their wares.
As the world’s Islamic population continues to grow at a rapid pace, young and wealthy millennials are increasingly demanding consumer products that fit their faith. In the West, the UK capital is seen the engine for much of Europe’s Islamic economy activity, with several start-ups launched every month in the sought-after segments of modest fashion, premium halal food and halal cosmetics.
“There is a huge opportunity right now for Islamic economy players. The sheer size of the market is huge – there are 1.8 billion Muslims globally – and it has been an under served demographic.”
Read more about the event and Hambro Perks investment strategy in the Middle East.