Global investors are more likely to invest in individuals with integrity, willpower, commitment and passion than those with a good business plan alone, according to a report.

The joint research conducted by Melodena Stephens Balakrishnan (University Of Wollongong in Dubai), Ian Michael (Zayed University) and IonicaMurtaza (Emirates Aviation University) found that 99 per cent of investors view integrity as either extremely important or very important when it came to selecting which companies or entrepreneurs to back financially.

More than 94 per cent saw willpower or commitment to the business as an important factor, with 93 per cent agreeing that passion for an idea also held sway.

Investors also valued the strength of a business' team and their willingness to learn. About 54 per cent of investors deemed a company's existing relationships to be either extremely important or very important when it came to backing businesses.

The team of researchers presented their findings at the recent Academy of International Business Middle East and North Africa (AIB Mena) sponsored social entrepreneurship workshop held at the University of Wollongong in Dubai recently.

The group first began researching into factors that influence investment decisions in 2010, supported by a grant from the Abraaj Group, and have since gathered evidence from almost 100 renowned venture capitalists, angel investors and private investors from across the globe.

"Of course a sound business plan is of importance when seeking investment from venture capitalists, angel investors and private investors. However, overwhelmingly the individuals we interviewed agreed that this wasn't the most influential factor when deciding how funding should be distributed because business plans are fluid and ideas are easily copied as soon as a product goes to market,” said Balakrishnan.

“Instead, investors place great value on the personal brand of the entrepreneur - if they project certain traits and values, they are far more likely to get funding. Many of the investors involved in our study agreed that one of the first factors that comes into consideration is ‘Do we like each other?’ and they put their faith in the person or the team behind the idea first and foremost, with the idea itself often taking second place." - TradeArabia News Service