Jordan¡¯s Innovative Startups and Small & Medium Enterprise (SME) Fund is driving impact for people in Jordan by creating jobs, driving industry development and supporting people to build skills for the new economy. The Fund, a collaboration between the World Bank and the Central Bank of Jordan, has leveraged US$98 million to invest in startups and SMEs, as well as to incubate, accelerate, and provide training and entrepreneurship courses for people starting and growing new businesses.
The Innovative Startups and SMEs Fund has invested in 17 funds, supported 124 companies and has led to the creation of 1,700 jobs so far, with more to come. The creation of new jobs, especially for young people and women, is a key priority of Jordan¡¯s development vision. In addition to this support, the Fund¡¯s portfolio has mobilized an additional $165 million that has been invested in Jordanian companies to boost modernization and growth.
Two of the companies that have benefitted from the support of the Fund ¨C Konn, which provides digital engineering solutions for real estate, and Maqsam, which is using AI to help companies with sales ¨C share their success stories in this video.