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Injaz and mySTARTUP wrap up three-year development program

Jordan Daily – Injaz Foundation, in collaboration with mySTARTUP business incubator and the Innovative Startups and SMEs Fund (ISSF), concluded a three-year startup development and support program aimed at fostering an encouraging ecosystem for entrepreneurs. The initiative, initiated in 2021, focused on addressing pressing environmental and technology-based education challenges.

According to a statement released by Injaz on Sunday, the program benefitted 58 startups, receiving a total investment and support package amounting to JD 1.5 million. These startups specialized in providing innovative solutions in environmental conservation and technological education.

Throughout the duration of the program, Injaz Business Incubator and the ISSF provided tailored incubation and support services to startup founders. This included identifying high-potential projects, devising viable business models, and equipping them with operational, technical, and financial capabilities. Additionally, they facilitated networking opportunities with potential investors and supporters, aiding in the transition from incubation to business acceleration, growth, and sustainability.

Muhammad Muhtaseb, CEO of the Fund, emphasized the promising opportunities to enhance Jordan’s share of financing and risk capital in the region. He commended the achievements of the Injaz Incubator team over the past three years and highlighted the substantial contributions of the supported startups, which created 269 jobs and attracted $2.1 million in financing, significantly impacting the national economy.

Safa Hijazin, Executive Director of Entrepreneurship at Injaz Foundation, praised the strategic partnership with the Jordanian Entrepreneurship Fund for expanding the incubator’s scope and benefiting more startup companies. He noted that the program facilitated over 550 events to connect startups with potential investors, enhancing their growth opportunities and familiarizing them with Jordan’s entrepreneurship landscape.

The startups developed innovative solutions to urgent environmental and educational technology needs. In the field of environmental conservation, they focused on technologies and products aimed at resource preservation and environmental impact reduction, including waste management, renewable energy applications, and environmental monitoring systems. In educational technology, startups devised platforms and applications to enhance learning processes, such as language learning apps, distance learning platforms, and educational games.

The ceremony included presentations by participating companies, showcasing their development and success during the program. Both the Fund and Injaz Foundation reiterated their commitment to supporting emerging companies and driving development, innovation, and economic growth in society.

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