Jordan Welcomes BeyondCapital For Development Of Local Entrepreneurial Ecosystem
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Recognizing a need support all key components of Jordan’s startup ecosystem, be it entrepreneurs, institutional investors, or angel investors, Endeavor Jordan and Silicon Badia have joined hands to launch a new investment entity BeyondCapital. Launched at an event in Jordan last week gathering key decision makers of Jordan’s entrepreneurial and investment ecosystem, BeyondCapital is backed with a US$10 million fund from USAID (as part of its MENA Initiative II), and has a mission to provide comprehensive support to three beneficiaries of Jordan’s business world: entrepreneurs, investors (fund managers), and angels.
"With BeyondCapital, we aim to closely tackle most of the challenges faced by entrepreneurs be it through improved access to mentors, networks or capital" notes BeyondCapital Board member, Ali Al-Husry in a statement. Speaking at the launch, he added that “BeyondCapital will also be addressing the challenges faced by investors stemming mainly from weak infrastructure and lack of training targeted at fund managers and angel investors." In a note on its key objectives and strategies, BeyondCapital observes that while Jordanian startups face considerable challenges in reaching an optimal operational position at the early-stage, there are also infrastructural challenges for the angel investors and large funds in the region.
Aiming to address such sectoral gaps with a three-pronged approach, the one-of-its-kind company offers a two-year support program for entrepreneurs, provides fund establishment support for investors, and will also support eager angel investors with training and co-investment opportunities. While the support to startups in the form of mentorship and capital provision will be driven with the help of Endeavor's network, Silicon Badia, a MENA-centric VC firm based in Jordan, will run the investors guidance programs.