Updated: Oasis 500 a Startup Accelerator to release By 2010 In Jordan august

Updated: Oasis 500 a Startup Accelerator to release By 2010 In Jordan august

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 co-founder and ex-President 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)

Just last year had been a switching point for the technology and internet industry into the Arab world whenever Yahoo acquired Maktoob, and so I might call it “The begin Year”. This present year our company is seeing more code writers to invest in and help startups in numerous countries that are arab.

In Jordan together with world that is arab basic you will find just a few company plan tournaments from companies such Queen Rania Center for Entrepreneurship, ASTF, and MIT Arab Business strategy Competition.

Numerous bright business owners won the tournaments, but some for the business plans stayed from the shelfs as no seed money ended up being available. To this end Dr. Usama Fayyad, Former Chief information Officer of Yahoo and present Chairman of Arab portal d1g told ArabCrunch today he could be starting Oasis 500 to address the space of seed and stage funding shortage that is early.

Oasis 500 is a kind of accelerator comparable to Y Combinator since it provides incubation and funding. Oasis 500 aims to push 500 startups in Jordan in 5 years and certainly will provide a few programs beginning with courses for business owners with some ideas.

The courses includes business strategy development, advertising and sales etc. and would endure for 4- 6 months.

Relating to Usama working out program will begin around August with this 12 months and can have a quota of around 100 business owners for a number of rounds each year ( anybody with a technology concept in accordance with Usama.)

During the final end of each and every program Oasis 500 will select 10 suggestions to spend money on with a typical of 10,000 Jordanian Dinars per idea and supply incubation (workplaces) for a time period of 2 months. In the event that startup is qualified you will see extra investment of a average of 50,000 USD.

Oasis 500 will even bring an umbrella for all your angel sites in Jordan to ensure that startups can more pitch to them easily. Therefore a capital that is additional can get from 100,000 to 500,000 USD based within the business or deal.

Usama told AC that Oasis 500 is going to be closing its very very first fund, of approximately 6 million USD in September this current year.

A few weeks more information in regards to the Oasis system, who’s I interview Ussama in few days again behind it, their qualifications, criteria, etc. will be posted when.

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