With $450,000 new capital flowing in from Mercy Corps, the task is now cut out for Beyond Capital. Over the next few months, the impact investment fund will focus heavily on identifying and helping out promising early-stage startups in Jordan — financially and otherwise.
BeyondCapital promotes the entrepreneurial ecosystem in Jordan by supporting start-ups in their scale-up journey. This new collaboration with Mercy Corps is also backed by heavyweights such as Google.org.
The new initiative involving BeyondCapital is a part of the Youth Impact Labs Program under the guidance of Mercy Corps Jordan. The program aims to provide customized financial and technical assistance to Jordanian startups. BeyondCapital’s expertise in bridging the gap between early-stage startups and investors is expected to be of great use for an ambitious initiative of this kind.
Per the agreement with Mercy Corp, BeyondCapital will strategically disburse the fund in a pool of startups with the vision of encouraging value creation, expediting the growth arc, and scaling business models.
Commenting on the new initiative, Tamer Al-Salah, Managing Director of BeyondCapital, said: “The mindset shift we are witnessing from donors from grant-based support towards private sector investment is hugely positive. This financial option promotes a healthy and sustainable method of support to early-stage companies who will without a doubt benefit from the in-kind services, technical assistance and expertise that come along with the investment.”
The process will begin with Mercy Corps sharing a list of promising startups that will then be put through a rigorous multi-step review by experts. BeyondCapital, in particular, will count on their expertise to evaluate and recognize the deserving startups for capital investment. Each shortlisted startup will receive $75K in addition to the technical and advisory assistance from BeyondCapital.