Amman: The Jordanian Entrepreneurship Fund (JEF) Monday said it had increased its investment in the Oasis 500 Fund from $3 million to $5 million to support ICT companies in Jordan.

JEF CEO Muhammad Muhtasib said, “Oasis 500 plays an important role in the entrepreneurial environment in the Kingdom and the region,” adding that increasing investment would support emerging companies in their investment portfolio.

The CEO of Oasis 500, Lama Fawaz, said Oasis 500 supports 36 startup companies in the Kingdom, 36 per cent of which are led by female entrepreneurs, creating 300 direct jobs and thousands of indirect jobs.

She said, “For every dollar we invested, we succeeded in attracting $5 to our emerging companies in our investment portfolio, and thanks to the additional investment by the Jordanian Entrepreneurship Fund, we will be able to double our investments in some of the superior companies within our investment portfolio.”

Source: Jordan News Agency