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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, built-in tech Group. Tarik I. Awad, Tarik I. Awad could be the Executive Director regarding the King Abdullah II Fund for Development (KAFD)

A year ago had been a point that is turning the technology and internet industry into the Arab globe whenever Yahoo acquired Maktoob, therefore I might call it “The begin Year”. This current year we have been seeing more code writers to invest in and help startups in various countries that are arab.

In Jordan therefore the Arab globe in basic you will find only some business strategy tournaments from companies such Queen Rania Center for Entrepreneurship, ASTF, and MIT Arab Business strategy Competition.

Numerous entrepreneurs that are bright the tournaments, but the majority of of the business plans stayed from the shelfs as no seed money 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 stage funding shortage that is early.

Oasis 500 is just a sort of accelerator just like Y Combinator because it provides incubation and funding. Oasis 500 aims to push 500 startups in Jordan in five years and certainly will provide a few programs beginning with classes for business owners with tips.

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

In accordance with Usama working out system will begin around of this present year and certainly will have a quota of approximately 100 business owners for many rounds each year ( anybody by having a technology concept based on Usama. august)

During the final end of every program Oasis 500 will select 10 tips to purchase with a typical of 10,000 Jordanian Dinars per idea and supply incubation (workplaces) for a time period of 2 months. In the event that startup is qualified you will see extra investment of a average of 50,000 USD.

Oasis 500 will also bring an umbrella for all your angel systems in Jordan to ensure startups can more pitch to them easily. Therefore one more money assets can get from 100,000 to 500,000 USD based in the business or deal.

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

A few weeks additional information concerning the Oasis system, that is behind it, their skills, requirements, etc. will undoubtedly be published once I interview Ussama in couple of days once again.

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