On the morning of the 20th of January, I wake up feeling a little bit tired but excited to go to an event in big the incubator sponsored by Orange. Today, Laith Al Qasem will be talking about the truth of Jordan Entrepreneurship eco-system, I was really feeling curious to be meeting with Laith Al Qasem and exited to hear what he will be talking about the entrepreneurship ecosystem in Jordan.
I arrived late to the event but I have managed to meet Dima Saudi at the door, I have attended one event hearing Dima life story, Dima is a great story teller, she was also talking about her cook book. I sat at the back in the beginning then I could not manage to see the screen. Laith was presenting talking about the ISSF, the structure of the fund and what kind of engagements they are willing to make.
From Laith, I have understood, that as a startup, you can benefit from the ISSF either indirectly through the other funds that exist in the market, and for that they have allocated around 50 Million dollars, 7 million for seed funds (below $280k), 14 for early stage investment(280k-750k$) and 24 million for venture. Laith talks about the other funds that exist in the market, highlighting Adam tech, Oasis and Shamal start as seed investors.
The audience responses and questions varied from a feeling of injustice that the opportunity allocation is not fair in Jordan, while some member of the audience blamed some of the regulations and lack of clarity in some aspects. I was more focused on the preferred type of registration for the company as I am in the process of registering my company in Jordan. Adventures First (www.adventures-First.com)
I have also met my friend Rabie Jamailah from Big Orange, we talked briefly about the European Union opportunity for the enhancement of innovation in Jordan. I genuinely believe there is some talent in Jordan, but I do really believe that there also a problem with current mindset of people in terms of the level of innovation needed and the fundamental problems that the business is facing.
I felt the event took a chaotic approach at the end, something I really did not appreciate, but in general it is part of the discussion that people are having about opportunity and wealth creation. I have concluded my event visit quickly. While leaving King Hussain Park, I have called Rola Fayad from ViaVii asking about potential collaborations, I have also managed to do an eyes test, it seems to be that I still have fully functional sight with only less than quarter of a eye deviation. I have done this test with the help of Al Shami Optics.
20th/ November / 2019