Innovative startups and SMEs fund invests USD1.5mln in Global Ventures
Summary
“By investing in progressive funds like Global Ventures, we are actively supporting aspiring startups and SMEs to scale their businesses, enhance their operations and achieve their growth potentials, ultimately giving rise to a dynamic entrepreneurial scene and prompting robust economic development across Jordan and beyond.” . Its objectives are to support and elevate Jordan’s entrepreneurial and innovation landscape by facilitating the establishment of new investment funds serving the ecosystem; making direct investments in innovative, export-oriented and scalable local startups; plus implementing initiatives to improve capabilities of Jordanian entrepreneurs and startup teams via training, capacity building and targeted incubation and acceleration programs. The ISSF - which is the largest investment fund of its kind in Jordan - is implemented in cooperation with the World Bank over a duration of six years, concluding in November 2023. The ISSF is committed to facilitating funding for Jordanian early-stage startups and SMEs, particularly those demonstrating ambitious vision and high growth potential. The ISSF endeavors to foster a thriving and supportive entrepreneurial environment that enables promising local entrepreneurs to transform innovative projects into sustainable startups; generate jobs for Jordanian men and women; and prompt economic sectors that serve export markets by capitalizing on the creative and technical capabilities of entrepreneurs and management teams across Jordan.