Innovative Startups and SMEs Fund

Established in 2017, the Innovative Startups and SMEs Fund (ISSF) is a private-sector-managed fund dedicated to fostering entrepreneurship and innovation within Jordan. The fund was created as a partnership between the Central Bank of Jordan, which invested USD 48 million, and the World Bank, contributing an additional USD 50 million, bringing the total capital to USD 98 million. ISSF focuses on providing early-stage equity financing to innovative small and medium enterprises (SMEs) across various sectors, including technology, healthcare, and financial services.

ISSF employs a dual approach to support the entrepreneurial ecosystem: direct investments in startups and indirect investments through venture capital funds. This strategy aims to catalyze a thriving entrepreneurial environment, enabling local entrepreneurs to transform innovative projects into sustainable businesses, generate employment opportunities, and stimulate economic growth. The fund also emphasizes outreach programs targeting underserved regions and groups, such as youth and women entrepreneurs, to promote inclusive economic development.

Since its inception, ISSF has made significant strides in supporting Jordan's entrepreneurial landscape. The fund has invested over USD 5 million directly into 23 Jordanian startups and has allocated nearly USD 37 million to 13 venture capital funds, attracting an additional USD 70 million in private capital to the country. These efforts have contributed to the creation of more than 2,290 jobs and have positioned ISSF as a pivotal player in enhancing the competitiveness and sustainability of Jordanian SMEs in the global market.