00:01 Established in 2017,
00:03 the Innovative Startups and SMEs Fund is
00:08 a collaborative effort between the Central Bank
00:10 of Jordan and the World Bank dedicated
00:13 to investing in promising startups and innovation
00:17 while driving economic growth and job creation in Jordan.
00:21 Through a total fund size of $98 million US dollars,
00:26 $50 million US dollars from the World Bank,
00:29 and $48 million from the Central Bank of Jordan,
00:35 provides funding for Jordanian early stage startups and SMEs through investments
00:41 in venture capital funds as well as direct investment in startups.
00:47 Technologies.
01:06 The has left an incredible mark,
01:10 investing in 17 funds supporting
01:12 124 Jordanian companies with 55% youth-led
01:18 and 21% women-led and creating over 1700 jobs.
01:25 The deployed 5.5.
01:26 $10 million in direct investments mobilizing an extra $10.5 million.
01:35 The deployed $26.7 million through portfolio funds,
01:39 mobilizing
01:41 an additional $165 million in total round sizes for Jordanian companies.
01:49 And as before Aljuri shurik shirksam maksam shirt salsa habitat.
02:06 In the pursuit of excellence,
02:09 deal flow creation department
02:11 has deployed $3.5 million
02:15 empowering 632 startups with investment readiness training,
02:20 supporting 284
02:22 through incubation and acceleration programs,
02:26 including youth-led and women-led initiatives,
02:29 provided 74 startups with business development services.
02:34 The strives to.
02:35 And facilitate growth within the
02:38 local entrepreneurial and innovation ecosystem.
02:41 They empower promising entrepreneurs to transform
02:45 innovative projects into sustainable startups,
02:48 creating jobs for Jordanians and boosting export sectors
02:52 by leveraging their creative and technical skills.
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Jordan’s Innovative Startups and Small & Medium Enterprise (SME) Fund is driving impact for people in Jordan by creating jobs, driving industry development and supporting people to build skills for the new economy. The Fund, a collaboration between the World Bank and the Central Bank of Jordan, has leveraged US$98 million to invest in startups and SMEs, as well as to incubate, accelerate, and provide training and entrepreneurship courses for people starting and growing new businesses.
The Innovative Startups and SMEs Fund has invested in 17 funds, supported 124 companies and has led to the creation of 1,700 jobs so far, with more to come. The creation of new jobs, especially for young people and women, is a key priority of Jordan’s development vision. In addition to this support, the Fund’s portfolio has mobilized an additional $165 million that has been invested in Jordanian companies to boost modernization and growth.
Two of the companies that have benefitted from the support of the Fund – Konn, which provides digital engineering solutions for real estate, and Maqsam, which is using AI to help companies with sales – share their success stories in this video.