In the last few years, Jordan's startup ecosystem has been thriving, with a notable increase in entrepreneurial activity and innovation. The country, renowned for its strategic location and skilled workforce, has positioned itself as a regional hub for technology and business startups. This overview explores the essential aspects of Jordan's startup landscape, including influential players, startup investment, and the latest key developments. Through this examination, we can gain insight into how Jordan is fostering a dynamic environment conducive to entrepreneurial success and technological advancement.

Tracking Investment Growth in Jordan's Startup Sector

In 2021, Jordan's startup ecosystem experienced a notable surge, with 45 deals and a substantial $109 million in funding. However, 2022 saw a decline, with only 35 deals and $26 million raised. This downward trend persisted into 2023, with just 27 deals and $9.5 million in funding, reflecting the broader impact of global macroeconomic challenges on startup investments. Despite these hurdles, we believe that Jordan's ecosystem is resilient and poised for significant growth in the coming years, potentially exceeding the successes of 2021.

Most Active Investors

Oasis500

Oasis500 is the leading seed investment company and business accelerator in Jordan. The company is renowned for its focus on the technology and creative industries, providing comprehensive support, including funding, mentorship, and networking opportunities. This support empowers entrepreneurs to transform their ideas into scalable businesses. With a notable track record of 150 investments and a recent investment in Capifly in 2023, Oasis is at the forefront of advancing entrepreneurship and innovation in Jordan and the wider MENA region.

Beyond Capital

Beyond Capital is an investment entity formed to facilitate connections between entrepreneurs and investors, backed by funding from USAID. Established through a collaboration between Endeavor Jordan and Silicon Badia, it leverages the expertise of both organizations to support high-impact entrepreneurs and foster innovation in the tech sector. With 39 investments made thus far, Beyond Capital plays a significant role in driving entrepreneurial growth and investment opportunities in Jordan and beyond.

Dash Ventures

DASH Ventures, founded in 2011 and based in Amman, Jordan, focuses on seed and early-stage investments across the MENA region and beyond. With a portfolio of 22 investments, their most recent involvement was in 2023 when they participated in Omniful's $5M funding round. DASH Ventures stands out for its commitment to supporting talented entrepreneurial teams and building sustainable companies, particularly in sectors such as technology, energy, lifestyle brands, and creative industries, contributing to the region's socio-economic development.

ISSF

The Innovative Startups and SMEs Fund (ISSF) is a private investment firm focused on supporting innovative startups and early-stage SMEs. With backing from the World Bank and the Central Bank of Jordan, ISSF boasts a total working capital of USD 98 million. With a portfolio of 16 investments, including a recent participation in Gamiphy's $1.6M funding round in 2022, ISSF plays a crucial role in fueling the growth and development of the entrepreneurial ecosystem in Jordan.

Propeller Inc

Propeller Inc. is a venture capital firm specializing in early-stage investments, dedicated to partnering with visionary founders. With a focus on empowering entrepreneurs to build global products, they provide essential tools, access to a community of experts, and a talent pool to facilitate success. Having made 13 investments to date, including a recent one in GamerG, Propeller Inc. plays a pivotal role in nurturing innovative startups and driving their growth.

AB Ventures LP

Arab Bank's corporate venture capital arm, AB Ventures LP, was established in 2018 with a focus on early-stage FinTech investments. With a global mandate, they seek to identify and support innovative startups poised for success in the financial technology sector. Having made 8 investments to date, including a recent one in Lendo in 2023 totaling SAR105M, AB Ventures LP plays a key role in driving innovation and growth within the FinTech industry.

Key Developments In 2024

In 2024, Jordan's startup and SME ecosystem witnessed several significant developments, indicating the region's growing prominence in innovation and entrepreneurship. The Innovative Startups and SMEs Fund (ISSF) is playing a pivotal role in fueling investment activity, with notable investments including $5 million in MSA Novo, a MENA-focused fund, and an increased commitment to Propeller's second fund, now totaling $5 million. Additionally, Arab Therapy, a leading online mental health platform in the MENAPT region, secured $1 million in seed funding to expand its services, highlighting the increasing interest in healthcare and wellness startups in the region.

Furthermore, strategic partnerships and collaborations emerged as a key theme, with fintech companies leading the way. Oman-based Mamun partnered with Jordanian fintech Numa to provide access to finance and wealth products for freelancers and creators, while Numa itself partnered with Visa, securing a strategic investment to support its expansion into Saudi Arabia and the UAE. Meanwhile, Sowt Media, Inc., a prominent Arabic audio content producer based in Jordan, announced the acquisition of Dubai-based Rising Giants Network (RGN), underscoring the region's commitment to content creation and media innovation. Additionally, the support from international institutions was evident, as fintech firm Liwwa secured a $5 million loan from the United States International Development Finance Corporation (DFC), highlighting the growing recognition of Jordan's startup ecosystem on the global stage.

In conclusion, the developments in Jordan's startup and SME landscape in 2024 reflect a vibrant and dynamic ecosystem poised for growth and innovation. With strategic investments from funds like ISSF and Propeller, as well as increased interest from international institutions like USAID and DFC, Jordanian startups are receiving crucial support to scale and expand their operations. The emergence of partnerships and collaborations, particularly in the fintech and healthcare sectors, underscores the collaborative spirit driving the region's entrepreneurial endeavors. As Jordan continues to position itself as a hub for innovation and technology in the MENA region, these developments signal promising opportunities for further advancement and success in the years to come.