Updated: Oasis 500 a Startup Accelerator to release By August 2010 In Jordan

Updated: Oasis 500 a Startup Accelerator to release By August 2010 In Jordan

Usama Fayyad, Ph.D. Emile Najib Cubeisy Managing Director of IV Holdings, Ambassador Karim Kawar, President of Kawar Group, Nashat T. Masri, Founder and Partner of Foursan Group, Hussam Khoury co-founder and ex-President of Maktoob Inc, Aiman Mazahreh President of STS, Walid Tahabsem, President & CEO, incorporated tech Group. Tarik I. Awad, Tarik I. Awad could be the Executive Director of this King Abdullah II Fund for Development (KAFD)

This past year had been a turning point for the technology and internet industry into the Arab globe whenever Yahoo acquired Maktoob, and so I might call it “The begin Year”. This current year our company is seeing more coders to invest in and support startups in various Arab nations.

In Jordan in addition to Arab globe in general you will find just a few business strategy tournaments from businesses such Queen Rania Center for Entrepreneurship, ASTF, and MIT Arab Business Arrange Competition.

Numerous bright business owners won the competitions, but some for the business plans stayed regarding the shelfs as no seed capital had been available. Compared to that end Dr. Usama Fayyad, Former Chief information Officer of Yahoo and present Chairman of Arab portal d1g told ArabCrunch today he could be starting Oasis 500 to deal with the space of seed and very early phase money shortage.

Oasis 500 is a kind of accelerator just like Y Combinator because it offers financing and incubation. Oasis 500 aims to push 500 startups in Jordan in 5 years and certainly will provide programs that are several with classes for business owners with some ideas.

The courses should include business strategy development, advertising and product product sales etc. and would endure for 4- 6 days.

Based on Usama working out system will begin around of in 2010 and certainly will have a quota of around 100 business owners for many rounds on a yearly basis ( anyone with a technology concept based on Usama. august)

During the end of each and every program Oasis 500 will select 10 suggestions to spend money on with a typical of 10,000 Jordanian Dinars per idea and supply incubation (workplaces) for loan by phone payment plan a time period of 2 months. In the event that startup is qualified you will see extra investment of an average of 50,000 USD.

Oasis 500 may also bring an umbrella for the angel systems in Jordan to make certain that startups can more pitch to them easily. Therefore a capital that is additional can get from 100,000 to 500,000 USD based when you look at the business or deal.

Usama told AC that Oasis 500 is likely to be shutting its very first investment, of approximately 6 million USD in this year september.

In a few days more information in regards to the Oasis system, that is I interview Ussama in few days again behind it, their qualifications, criteria, etc. will be posted when.

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