Amman:Saudi venture capital fund Vision Ventures organized a specialized entrepreneurship event in Amman on Monday, titled "Building a Billion-Dollar Startup from Jordan." The event gathered founders, entrepreneurs, and technology and business experts.
According to Jordan News Agency, the event aimed to support Jordanian entrepreneurs through awareness and mentorship, while reinforcing Vision Ventures' strategic partnership with the Jordan Enterprise Development Corporation (JEDCO), one of its key investors.
Jordan Enterprise Development Corporation CEO Mohammad Mohtaseb emphasized the significance of the event in bolstering the corporation's strategic partnerships with investment funds. He noted that JEDCO seeks to attract both regional and global investment funds to provide not only financing for startups but also expertise and knowledge to help local companies expand into new markets.
Mohtaseb shared that the corporation has invested in four Jordanian startups so far, adopting a partner-investor approach to transfer practical knowledge and expertise to Jordan's entrepreneurial ecosystem. He highlighted Jordan's and the region's substantial expertise in digital transformation, which creates opportunities for growth in regional and global markets.
During the event, Vision Ventures Co-founder and CEO Kais Essa discussed steps and practices for scaling startups to achieve billion-dollar valuations. He emphasized the importance of investing in passionate entrepreneurs and teams, executing rapidly, and testing products in the market. Essa explained that demonstrating genuine market demand and targeting large markets are crucial for reaching significant valuations.
Essa further described venture capital as a long-term strategic partnership that goes beyond financial support. He stressed the importance of systematic market entry and continuous product development tailored to consumer needs to improve operational efficiency and financial sustainability.