BeyondCapital Launches A Scout Program To Boost Prospects Of Early-Stage Businesses In Jordan
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BeyondCapital, the USAID-funded joint initiative of Endeavor Jordan and venture capital firm Silicon Badia, has launched Scout Program- an innovative way to source new investments, with special focus on early-stage businesses in Jordan. According to a statement, the Scout Program is a part of BeyondCapital’s efforts “to build investment management capability, and unleash potential in the local ecosystem.”
Under the program, a selected pool of individual ‘scouts’ will make small ticket investments in projects within their various areas of expertise, backed by funding from BeyondCapital. The primary objective of the program is to catalyze early-stage investing in Jordan, and to widen investor participation in new economic sectors. Scout investing, a concept popular in the developed markets, is yet to go mainstream in the Middle East, and in addition to bringing this model to the region, BeyondCapital has also incorporated a “matching capital” component, where scouts will help investee companies find angels and institutional investors to co-invest alongside BeyondCapital.
Speaking at the program’s launch at the Wild Jordan Centre, Tamer Al-Salah, MD, BeyondCapital, said, “We all see opportunity in different ways. A key part of the Scout Program is about getting people with a new and different lens on board to source investment opportunities in areas such as creative industries, disruptive technologies and academia as well as opportunities that encourage and support Jordan’s youth and enable economic development in areas outside of Amman.”
"The program has identified individuals with a genuine desire to give back to their communities all of whom are truly able to add value well beyond just the capital they invest” Emile Cubeisy, Managing Partner at Silicon Badia, added in a statement. “With this in mind, we’ve designed a streamlined and frictionless investment process to enable the scouts we’ve selected to get out there and help great ventures grow.”