Silicon Valley-based Founder Institute has launched a pre-seed start-up accelerator in Jordan to support the early-stage entrepreneurs.
“Jordan is ripe with talent … the Founder Institute can increase an aspiring technology entrepreneur's chance for success by providing a structured programme, the necessary skills, mindset and access to Silicon Valley expertise,” it said in a statement.
“We will provide high-potential entrepreneurs and teams the support network and structured growth process needed to get traction and funding.”
The companies can take advantage of the Founder Institute's programmes, mentor support and network. Applications to the Jordan virtual 2020 Founder Institute are now open and interested start-ups can apply here. Due to the Covid-19 pandemic, the programme is being held online.
Jordan has a booming start-up scene. The country has been a bedrock of software development in the Middle East and produced some of the most successful companies in the region.
The country also has a distinct edge in coding in the Arab world. In 2017, it became one of the earliest countries in the region to introduce coding into its primary school curriculum.
Jordan has experienced significant growth in investment activity, with funding for start-ups more than doubling over the last five years to $41m (Dh150.6m) last year from $19m in 2015, according to data platform Magnitt’s venture investment report.
Jordan was placed fifth in the Middle East and North Africa region by number of investment deals (35) in 2019, accounting for almost 6 per cent of the total deals in the region.
The country is home to a number of high-profile start-ups, including Arabic digital platform Mawdoo3 and e-commerce publish-on-demand platform Jamalon that both raised a combined $20m worth of total funding last year. This was the record year for funding for the Jordanian start-up ecosystem.
The Founder Institute – the world's largest pre-seed start-up accelerator – has helped over 4,300 entrepreneurs get the focus, generate traction, recruit a team and build a product.
Founded in 2009, it has chapters in more than 200 cities worldwide. It is also hosting an online programme for start-ups in Abu Dhabi, with an admissions deadline of October 4.
Its alumni have raised over $950m and are worth an estimated $20 billion.
The Founder Institute caters to founders and teams at the pre-seed stage. "The organisation's mission is to globalise Silicon Valley and build sustainable start-up ecosystems that will create one million new jobs worldwide,” the institute said.
Over the past two decades, Jordan has built an extensive internet infrastructure, attracting tech companies like Microsoft and Amazon.
