MYSTARTUP Program for Emerging Entrepreneurs Culminates

Amman, Mar. 31 (Petra) – Injaz Foundation and mySTARTUP business incubator, along with the Innovative Startups and SMEs Fund (ISSF), concluded their startup development and support program initiated in 2021, spanning three years.

The program aimed to foster an encouraging ecosystem for entrepreneurs and back pioneering projects geared toward tackling pressing environmental and technology-based education challenges.

As per an Injaz statement on Sunday, 58 startups benefited from the program, receiving investment and support totaling JD 1.5 million. These startups focused on providing innovative solutions in environmental conservation and technological education.

Throughout the program, Injaz Business Incubator and the ISSF offered tailored incubation and support services for startup founders. This encompassed identifying high-potential projects, devising viable business models, and equipping them with operational, technical, and financial capabilities.

Moreover, they facilitated networking with potential investors and supporters, ensuring their transition from incubation to business acceleration, growth, and sustainability.

Muhammad Muhtaseb, CEO of the Fund, highlighted promising opportunities to boost Jordan’s share of financing and risk capital in the region, lauding the achievements of the Injaz Incubator team over the past three years.

He emphasized the substantial contributions of the supported startups, which created 269 jobs and attracted $2.1 million in financing, significantly impacting the national economy.

Safa Hijazin, Executive Director of Entrepreneurship at Injaz Foundation, commended the strategic partnership with the Jordanian Entrepreneurship Fund for expanding the incubator’s scope and benefiting more startup companies.

He noted that the program facilitated over 550 events to connect startups with potential investors and familiarize them with Jordan’s entrepreneurship landscape, thus enhancing their growth opportunities.

The startup companies provided innovative solutions to urgent environmental and educational technology needs. In environmental conservation, they developed technologies and products aimed at resource preservation and environmental impact reduction, including waste management, renewable energy applications, and environmental monitoring systems. In educational technology, startups devised platforms and applications to enhance learning processes, such as language learning apps, distance learning platforms, and educational games.

The ceremony featured presentations by participating companies, showcasing their development and success during the program. The Fund and Injaz Foundation reiterated their commitment to supporting emerging companies, and driving development, innovation, and economic growth in society.

//Petra// AJ
31/03/2024 14:46:55