Virtual angel investor event to be held on September 19

AMMAN — The Ministry of Digital Economy and Entrepreneurship (MoDEE) emphasised the importance of early stage startup financing, as Startappz, a Jordanian company specialised in digital transformation prepares to launch its very first virtual angel investor event on September 19, providing opportunities for networking.

The event during which five entrepreneurs from across the region would be virtually pitching their ideas to a number of angel investors who are willing to nurture “their next big tech ideas” and help mould them into innovative enterprises.

In partnership with the MoDEE and the Information and Communications Technology Association (INTAJ), Startappz aims to connect entrepreneurs with angel investors who are looking for promising startups in coordination with Innovative Startups and SMEs Fund, according to a ministry statement shared with The Jordan Times on Tuesday.

“The ministry is keen to support all events that are geared towards helping entrepreneurial companies in Jordan to obtain funding that would boost business productivity, create jobs and contribute to the local economy,” Minister of Digital Economy and Entrepreneurship Muthana Gharaibeh said.

Gharaibeh highlighted the ministry’s continuous engagement with all parties in the entrepreneurial community in Jordan, with the aim of supporting entrepreneur-focused development and help startup businesses, adding that there are several financing challenges, especially in the seed and pre-seed stages.

Founder and CEO of Startappz Mohammed Khawaja said that angel investing is of “utmost importance” as an initial step for entrepreneurial companies, particularly given that angel investors do not just provide financial support, but also help entrepreneurs successfully take their initial steps, in addition to sharing their knowledge.

Furthermore, Khawaja said that there is a significant need for such funding in the Jordanian entrepreneurship community.

“This event is directed towards investors from the Kingdom and abroad who may have never explored the opportunity of investing in early-stage startups,” Khawaja said in a Startappz statement sent to The Jordan Times on Wednesday. 

The MoDEE works together with its partners, in order to support innovative enterprises, the ministry statement said, adding that angel investors are “not motivated solely by profit as some are more likely to be risk takers”.