Businessman and philanthropist Arif Patel, from the UAE, has made significant contributions to social welfare and charitable initiatives. Patel has recently launched a social impact investment initiative aimed at promoting sustainable development and positive change within the UAE, UK and India.
Who is Arif Patel?
Arif Patel was born in India into a business family. He gained recognition as a successful businessman after he launched Preston Trading Company in the UK. With over 25 years of experience in textiles and real estate, he has also been recognised as one of the top 10 executives of an investment company in the UK. He is also a majority shareholder in Gulftex Dubai.
His contributions to philanthropy
Arif’s contributions span various areas, including healthcare access, women empowerment, hunger alleviation, widow support, and COVID-19 relief. Arif’s efforts in healthcare include donating an ambulance to the underserved Adivasi community and distributing food to combat hunger. His philanthropy extends beyond borders, with initiatives such as organising a ‘feedathon’ in Madagascar and providing support in Afghanistan’s harsh winter conditions. His philanthropic endeavours have touched countless lives, inspiring positive change in society.
Why did he shift to philanthropy?
Arif Patel’s decision to shift his focus from entrepreneurship to philanthropy can be attributed to his personal journey.
“Anyone can make money, but very few can make a difference,” said Arif Patel.
While entrepreneurship allowed him to achieve success and financial stability, Arif felt a strong calling to contribute to the welfare of others and address social challenges, especially when he saw people from his own community suffering.
By transitioning to philanthropy, Arif Patel has been able to offer his knowledge, influence, and resources to support causes and initiatives that align with his values and vision for a better world.”I feel more fulfilled – I never felt this way in business”
About his Social impact investing initiative
Most investors back companies that have potential to make them more money. Arif Patel believes that the future of investing is in companies that are built to solve social or world problems. With social impact investing – an investor can not only make returns but ensure they back companies which cater to the long term needs of society.
He is inviting funding proposals from:
1. Healthcare: Urbanisation has helped healthcare grow in large cities while small towns and localities are ignored and this has reduced access to healthcare where people need it most. With private hospital chains focused on medical tourism, there is very slow growth in small towns and villages where quacks and home remedies are dominant. He focuses on companies that improve healthcare access and affordability. He has a keen interest in clinics, preventive drugs and personal healthcare products that cater to rural areas and women.
2. Environmental products: He has invested in renewable energy projects and wants to fund companies that support clean water initiatives. He says water is the currency of the future. Arif funds products that require little or no fuel or electricity, which can be deployed and scaled. He has recently invested in a startup which is building solar powered rechargeable refrigerators.
3. Affordable Housing: He believes Investing in affordable housing projects can reduce homelessness and loves companies that support the development of low-cost housing units. Homelessness has increased in recent years in both UK and UAE where housing prices and inflation continue to rise. With a large number of immigrants added to this mix the problem gets worse every year. Big players in real estate are focusing on building luxury housing while low income households struggle. Homelessness is potentially one of the biggest problems of the future and he is actively looking for startups building affordable housing and low rent units.
4. Employment & Upskilling: Edtech is of keen interest to him as he finds himself upskilling through the online medium. Arif wants to expand the accessibility of such services amongst the underprivileged and invest in enterprises that offer job training, skills development, and employment opportunities. He has personally funded vendor carts during covid to empower those who lost their livelihood due to the pandemic. He also funds upskilling programs in the textile space for women who want to make a livelihood from sewing.
Why social impact investing
There is tremendous pressure on governments to fuel economic growth. He believes that if private entities direct their investments towards projects that prioritise social and environmental goals, countries can achieve compounded economic growth. If you are not a first world country this social impact investing should be encouraged by governments.
By aligning financial goals with social and environmental problems, social impact investing has the power to create a more inclusive economy that benefits both people and governments. In UAE and India there are very few investors who are not eager for profits. Most social initiatives are funded by trusts or non profits and that needs to change.
Why UAE , UK and India?
Most social impact initiatives in UAE and India are funded by US-based organisations. The cultural nuances of these societies are ignored and hence leads to less impact. UK however has alot of such initiatives but small towns and communities are ignored. Having lived in all 3 countries he believes there is a huge scope for growth in this sector.
Who should apply to this initiative?
Experienced entrepreneurs who have a business idea which can potentially disrupt the market. Any product or service or social initiative which focuses on affordable healthcare, housing and upskilling. Any solution that caters to clean water, agriculture and renewable energy can apply as well.
For those who wish to apply, Arif Patel is inviting a detailed business proposal and 5-year plan at arifpatel.ft@gmail.com.
Disclaimer – The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content.
Who is Arif Patel?
Arif Patel was born in India into a business family. He gained recognition as a successful businessman after he launched Preston Trading Company in the UK. With over 25 years of experience in textiles and real estate, he has also been recognised as one of the top 10 executives of an investment company in the UK. He is also a majority shareholder in Gulftex Dubai.
His contributions to philanthropy
Arif’s contributions span various areas, including healthcare access, women empowerment, hunger alleviation, widow support, and COVID-19 relief. Arif’s efforts in healthcare include donating an ambulance to the underserved Adivasi community and distributing food to combat hunger. His philanthropy extends beyond borders, with initiatives such as organising a ‘feedathon’ in Madagascar and providing support in Afghanistan’s harsh winter conditions. His philanthropic endeavours have touched countless lives, inspiring positive change in society.
Why did he shift to philanthropy?
Arif Patel’s decision to shift his focus from entrepreneurship to philanthropy can be attributed to his personal journey.
“Anyone can make money, but very few can make a difference,” said Arif Patel.
While entrepreneurship allowed him to achieve success and financial stability, Arif felt a strong calling to contribute to the welfare of others and address social challenges, especially when he saw people from his own community suffering.
By transitioning to philanthropy, Arif Patel has been able to offer his knowledge, influence, and resources to support causes and initiatives that align with his values and vision for a better world.”I feel more fulfilled – I never felt this way in business”
About his Social impact investing initiative
Most investors back companies that have potential to make them more money. Arif Patel believes that the future of investing is in companies that are built to solve social or world problems. With social impact investing – an investor can not only make returns but ensure they back companies which cater to the long term needs of society.
He is inviting funding proposals from:
1. Healthcare: Urbanisation has helped healthcare grow in large cities while small towns and localities are ignored and this has reduced access to healthcare where people need it most. With private hospital chains focused on medical tourism, there is very slow growth in small towns and villages where quacks and home remedies are dominant. He focuses on companies that improve healthcare access and affordability. He has a keen interest in clinics, preventive drugs and personal healthcare products that cater to rural areas and women.
2. Environmental products: He has invested in renewable energy projects and wants to fund companies that support clean water initiatives. He says water is the currency of the future. Arif funds products that require little or no fuel or electricity, which can be deployed and scaled. He has recently invested in a startup which is building solar powered rechargeable refrigerators.
3. Affordable Housing: He believes Investing in affordable housing projects can reduce homelessness and loves companies that support the development of low-cost housing units. Homelessness has increased in recent years in both UK and UAE where housing prices and inflation continue to rise. With a large number of immigrants added to this mix the problem gets worse every year. Big players in real estate are focusing on building luxury housing while low income households struggle. Homelessness is potentially one of the biggest problems of the future and he is actively looking for startups building affordable housing and low rent units.
4. Employment & Upskilling: Edtech is of keen interest to him as he finds himself upskilling through the online medium. Arif wants to expand the accessibility of such services amongst the underprivileged and invest in enterprises that offer job training, skills development, and employment opportunities. He has personally funded vendor carts during covid to empower those who lost their livelihood due to the pandemic. He also funds upskilling programs in the textile space for women who want to make a livelihood from sewing.
Why social impact investing
There is tremendous pressure on governments to fuel economic growth. He believes that if private entities direct their investments towards projects that prioritise social and environmental goals, countries can achieve compounded economic growth. If you are not a first world country this social impact investing should be encouraged by governments.
By aligning financial goals with social and environmental problems, social impact investing has the power to create a more inclusive economy that benefits both people and governments. In UAE and India there are very few investors who are not eager for profits. Most social initiatives are funded by trusts or non profits and that needs to change.
Why UAE , UK and India?
Most social impact initiatives in UAE and India are funded by US-based organisations. The cultural nuances of these societies are ignored and hence leads to less impact. UK however has alot of such initiatives but small towns and communities are ignored. Having lived in all 3 countries he believes there is a huge scope for growth in this sector.
Who should apply to this initiative?
Experienced entrepreneurs who have a business idea which can potentially disrupt the market. Any product or service or social initiative which focuses on affordable healthcare, housing and upskilling. Any solution that caters to clean water, agriculture and renewable energy can apply as well.
For those who wish to apply, Arif Patel is inviting a detailed business proposal and 5-year plan at arifpatel.ft@gmail.com.
Disclaimer – The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content.
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