Usama Fayyad, Ph.D. Emile Najib Cubeisy Managing Director of IV Holdings, Ambassador Karim Kawar, President of Kawar Group, Nashat T. Masri, Founder and Partner of Foursan Group, Hussam Khoury ex-President and co-founder of Maktoob Inc, Aiman Mazahreh President of STS, Walid Tahabsem, President & CEO, incorporated tech Group. Tarik I. Awad, Tarik I. Awad could be the Executive Director of this King Abdullah II Fund for Development (KAFD)
A year ago had been a switching point for the technology and internet industry when you look at the Arab globe whenever Yahoo acquired Maktoob, thus I might call it вЂњThe begin YearвЂќ. This present year we have been seeing more coders to finance and help startups in numerous countries that are arab.
In Jordan and also the world that is arab basic you will find only some business strategy tournaments from companies such Queen Rania Center for Entrepreneurship, ASTF, and MIT Arab Business strategy Competition.
Numerous entrepreneurs that are bright the tournaments, but the majority of associated with business plans stayed regarding the shelfs as no seed capital had been available. To that particular end Dr. Usama Fayyad, Former Chief information Officer of Yahoo and present Chairman of Arab portal d1g told ArabCrunch today he could be establishing Oasis 500 to handle the space of seed and very early phase capital shortage.
Oasis 500 is a kind of accelerator just like Y Combinator since it offers incubation and funding. Oasis 500 is designed to push 500 startups in Jordan in five years and can offer programs that are several with classes for business owners with a few ideas.
Based on Usama working out system will begin around August of the 12 months and certainly will have a quota of approximately 100 business owners for all rounds each year ( anyone by having a technology concept relating to Usama.)
During the end of each and every program Oasis 500 will select 10 suggestions to spend money on with the average of 10,000 Jordanian Dinars per idea and offer incubation (workplaces) for a time period of 2 months. In the event that startup is qualified you will have investment that is additional of average of 50,000 USD.
Oasis 500 will even bring an umbrella for the angel systems in Jordan to ensure that startups can more pitch to them easily. Therefore one more capital opportunities can get from 100,000 to 500,000 USD depending when you look at the business or deal.
Usama told AC that Oasis 500 would be shutting its very first investment, of approximately 6 million USD in this year september.
A few weeks more information concerning the Oasis system, that is I interview Ussama in few days again behind it, their qualifications, criteria, etc. will be posted when.
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