Jordan Daily – The Innovative Startups and SMEs Fund (ISSF) has increased its investment in the Oasis 500 fund from $3 million to $5 million, aiming to support early-stage information and communication technology companies in Jordan.
Mohammad Al-Muhtaseb, CEO of the ISSF, emphasized on Monday that Oasis 500 is pivotal to the entrepreneurial ecosystem in Jordan and the region. He noted that the increased investment will bolster the fund’s capacity to support startups in its portfolio, promoting Jordanian entrepreneurship and economic growth.
Luma Fawaz, CEO of Oasis 500, revealed that the fund supports 36 startups in Jordan, with 36% led by female entrepreneurs. This initiative has created 300 direct jobs and 1,000 indirect jobs. “For every dollar we invested, we attracted $5 for our portfolio startups. The additional investment from the ISSF will enable us to double our investments in some of the top-performing companies within our portfolio,” Fawaz said.
