Established in response to the first recommendation of the Jordanian Economic Policy Council, The Innovative Startups and SMEs Fund (“ISSF”) is a private sector managed fund making investments in innovative startups and early stage SMEs. The World Bank has invested USD 50 million in the Fund which was complimented by the Central Bank of Jordan with an additional USD 48 million bringing the total working capital of the ISSF to USD 98 million.
The ISSF will promote entrepreneurship and contribute to job creation in Jordan by increasing private, early stage equity finance for innovative small and medium enterprises (SMEs). In addition to early stage financing, the ISSF will encourage entrepreneurship across Jordan with outreach programs to entrepreneurs from lagging regions, underserved sectors and underserved groups such as youth and women entrepreneurs.
The ISSF aims at investing in Jordanian companies, providing investment support to partner investors, as well as improve the quality and variety of services provided by intermediaries and networks dedicated to the creation of deal-flow in Jordan’s ecosystem.