Jordan starts anew thanks to start-ups
When King Abdullah II came to power in 1999, he set the tone — it was time for modernization. With water shortages and agriculture in decline, Jordan had no choice but renewing itself. The Hashemite Kingdom was the first country in its region to invest in renewable energies. Nowadays, it has become a major tech hub which enables the emergence of promising young companies, as evidenced by the 2019 World Economic Forum, where 20 Jordanian start-ups feature among the 100 selected. The city which is often nicknamed “Silicon Wadi” bet on its start-up eco-system as a response to the political and social problems undermining its country.
The NTICS are an asset to reduce unemployment in the Hashemite Kingdom
While Ericsson prepares to roll out 5G nationwide, the kingdom’s start-ups continue to focus on the telecoms sector, following the model of Maktoob, whose success still resonates throughout the Arab world. Bought for more than $170 million by Yahoo in 2009, this leading Arabic/English provider in the Middle East has had a decisive influence on the national economy. With a 4% contribution to Jordan's GDP and a growth rate of 25% by 2022, the new information and communication technologies (NTICS) are a sector with a bright future. With 900 companies specializing in telecommunications and 26,000 jobs generated in this field, King Abdallah is well aware of the wealth that start-ups could bring. In order to solve the prevalent problem of structural unemployment, the sovereign decided to cultivate Jordan's entrepreneurial spirit through an effective support program. Oasis500 feeds start-ups that are incubated to the tune of $30,000. The funds it invests amount to $100,000 at start-up, and can rise to as much as $350,000 during the follow-up period. The platform has already supported over 150 companies and created 800 direct jobs.
Promoting new businesses helps to feminization of work
Oasis500 also has the merit of encouraging women to start up their own companies. Nowadays, 37% of the companies financed by the investment company are run by businesswomen. While Oasis boasts CEO Luma Fawaz, who features on the Forbes 100 Businesswomen in the Middle East, these figures reflect more than just a handful of isolated cases, but a significant evolution in the feminization of employment in Jordan. The promotion of women in the job market has become a central topic of discussion among heads of state as well as a reason for granting financial aid on an international scale. In August 2022, Canada sent $25 million to the Hashemite Kingdom to strengthen women's access to the job market, especially in the rural areas of Salt and Ibrid.
That socio-economic objective is successfully illustrated by Teenah, a thriving start-up located in northern Ibrid. Founded in 2016, Teenah's mission is to offer its jobs to Jordanian women as well as Syrian refugees, while boosting professional activity in the agricultural areas of the north. Officially recognized and supported by Amann, this company specializing in sustainable textiles has since attracted the attention of UNICEF and Shamal Start, that have provided the economic and social resources to create new jobs and warehouses. Generating jobs, services and revenue, the path of entrepreneurship is succeeding for the monarchy, and seems to be leading to the Oasis of social progress.
Sources:
https://www.aa.com.tr/fr/monde/financement-canadien-de-25-millions-de-dollars-à-la-jordanie/ 2660066
https://fr.wikipedia.org/wiki/Maktoob
https://wydden.com/1001startups-fait-escale-en-jordanie/
