BeyondCapital Launches Today to Promote & Reinforce Local Entrepreneurial & Investment Ecosystem
Amman, November 15th, 2017. BeyondCapital was launched today at a special event that gathered prime players and key decision makers in the entrepreneurial and investment ecosystem in Jordan, coinciding with the 10th anniversary of the Global Entrepreneurship Week (November 13-19, 2017).
As a joint venture between Endeavor Jordan and Silicon Badia, with a US 10M fund from USAID, BeyondCapital aims to mature the entrepreneurial and investment ecosystem by providing comprehensive support to three main beneficiaries: Entrepreneurs, Finance Entrepreneurs and Angel Investors. As it leverages capital, expertise and access to networks, BeyondCapital will work through these pillars to foster a dynamic and open environment, propel job growth, increase equity investments and push through a new pipeline of fast-growing businesses.
The launch event commenced with a welcome note from BeyondCapital Board Member, Mr. Ali Al-Husry, who emphasized the urgency for collaboration to maximize the impact of the various support services on economic growth and development. Al-Husry added "With BeyondCapital, we aim to closely tackle most of the challenges faced by entrepreneurs be it through improved access to mentors, networks or capital". He elaborated that BeyondCapital "will also be addressing the challenges faced by investors stemming mainly from weak infrastructure and lack of training targeted at fund managers and angel investors."
In turn, Acting Deputy Chief of Mission for the U.S. Embassy, Dr. Jim Barnhart, stated "Beyond Capital will improve investor and business access to equity capital, advance the development of the financial system, and encourage increased equity investment in early stage businesses. This will have a significant impact in propelling Jordan’s economic growth.”
The Managing Director of BeyondCapital, Tamer Al Salah then proceeded to present the various services that will be rendered through BeyondCapital to its beneficiaries.
Al Salah pointed that the first pillar will be a tailored 2-year comprehensive program for Start-Up Support, by utilizing Endeavor's network of business leaders, entrepreneurs and investors to provide mentorship and training.
The Existing & Aspiring Finance Entrepreneurs Support and Angel Investors Support Pillars will be run by Silicon Badia, Jordan’s first Venture Capital firm and one of the leading investors in the region.
The event culminated with a panel discussion titled "Bridging the Gap in the Entrepreneurial Ecosystem" featuring Dr. Mohammed Al Ja'fari, Director General of the Jordan Loan Guarantee Corporation – the implementers of the Innovative Start-ups Fund, Shahm Al-Wir, Partner at Foursan Group and member of the Economic Policies Council chaired by His Majesty King Abdullah II, and Emile Cubeisy, Managing Partner of Silicon Badia. The panelists shared their views on the gaps and challenges faced in Jordan by entrepreneurs looking to scale their businesses, investors in search for their next potential investment, as well as prepping an aspiring generation of angel investors. The session was moderated by Endeavor's Managing Director Reem Goussous.