Updated: Oasis 500 a Startup Accelerator to publish By 2010 In Jordan august
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 ex-President and co-founder 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 switching point for the technology and internet industry into the Arab globe whenever Yahoo acquired Maktoob, thus I might call it вЂњThe begin YearвЂќ. This season we have been seeing more coders to invest in and help startups in various countries that are arab.
In Jordan and also the Arab globe in basic you will find just a few company plan tournaments from companies such Queen Rania Center for Entrepreneurship, ASTF, and MIT Arab Business strategy Competition.
Many entrepreneurs that are bright the tournaments, but the majority of associated with business plans stayed from the shelfs as no seed capital had been available. To that particular end Dr. Usama Fayyad, Former Chief information Officer of Yahoo and present Chairman of Arab portal d1g told ArabCrunch today he is releasing Oasis 500 to deal with the space of seed and stage funding shortage that is early.
Oasis 500 is a kind of accelerator much like Y Combinator because it provides money and incubation. Oasis 500 is designed to push 500 startups in Jordan in five years and certainly will provide programs that are several with courses for business owners with some ideas.
The courses should include company plan development, advertising and product sales etc. and would endure for 4- 6 months.
In accordance with Usama working out system begins around of in 2010 and can have a quota of around 100 business owners for many rounds on a yearly basis ( anybody by having a technology concept relating to Usama. august)
During the final end of each and every program Oasis 500 will select 10 suggestions to purchase with a typical of 10,000 Jordanian Dinars per idea and offer incubation (workplaces) for a time period of 2 months. In the event that startup is qualified you will have additional investment of a average of 50,000 USD.
Oasis 500 will even bring an umbrella for all your angel systems in Jordan in order that startups can more pitch to them easily. Therefore yet another money investments can get from 100,000 to 500,000 USD based into the business or deal.
Usama told AC that Oasis 500 will soon be shutting its very very first investment, of about 6 million USD in September this present year.
In a few days more information in regards to the Oasis system, that is behind it, their skills, requirements, etc. is likely to be posted once I interview Ussama in day or two once more.
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