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Start-ups and Incubation
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  • 1. Session 2: Start-ups & Incubation Continued Support from JEDCO Hana Uraidi – Director of Cross Cutting Support/JIC Network Director
  • 2. Contents
    • JEDCO – Sustainability Partner & Developing an Effective Business Continuity Plan
    • Why Business Incubation is Strategic to GoJ?
    • Most Common Incubation Services Needed?
    • Current JIC members
    • What did SRTD mean for JEDCO?
    • Initiatives taken with Support of SRTD
    • Plans for 2011 – 2013
    • Thank you and Contact Information
  • 3. JEDCO – Sustainability Partner & Developing an Effective Business Continuity Plan
    • What Does JEDCO offer?
    • JEDCO’s involvement with Incubators (JIC) started in 2005.
    • 100 Entrepreneurs supported to date and approximately 850K invested.
    • 40 graduates ….30 SRTD graduates in the pipeline…
    • Impact assessment highlights that although graduated companies are surviving …the problems they face are in finance, packaging, marketing …
  • 4. What needs to be done?
    • Cont. Working with partners and stakeholders to promote and reward entrepreneurship.
    • Facilitate a conducive business environment that facilitates start-ups growth.
    • Secure funding to establish an “all-encompassing” Business Support Services Center – inclusive of a Creative Industries Incubator.
    • Stay open-minded and receptive to new ideas!
  • 5. Why Business Incubation Continues to be a Priority for GoJ?
    • Business incubation has been identified as a means of meeting a variety of economic & socioeconomic policy needs, which includes: • Creating jobs and wealth • Fostering a community's entrepreneurial climate • Technology commercialization • Diversifying local economies • Building or accelerating growth of local industry and/or services clusters
  • 6. Why Business Incubation Continues to be a Priority for GoJ? Cont….
    • Business creation and retention
    • Encouraging women or minority entrepreneurship
    • Identifying potential spin-in or spin-out business opportunities
    • Community revitalization
    Fact: Support to Incubation & Startups continues to be a priority in the National Agenda.
  • 7. Most common incubator services:
    • Help with business basics
    • Networking activities
    • Marketing assistance
    • High-speed Internet access
    • Help with accounting/financial management
    • Access to bank loans, loan funds and guarantee programmes
    • Help with presentation skills
    • Links to higher education resources
  • 8. Most Common Incubator Services cont…..
    • Links to strategic partners
    • Access to angel investors or venture capital
    • Comprehensive business training programs
    • Advisory boards and mentors
    • Management team identification
    • Help with business etiquette
    • Technology commercialization assistance
    • Help with regulatory compliance
    • Intellectual property management
  • 9. Current JICs are established at:
    • Al-Hassan Science City (Royal Scientific Society)
    • HCST (Ipark) – (pipeline BIC)
    • Jordan University – Agro-Business Incubator
    • Al-Hassan Industrial Estate (BIC)
    • Al-Hussein Bin Abdullah II Industrial Estate (BIC)
    • Jordan Forum for Business and Professional Women (Amman & Jerash)
    • Philadelphia University (Engineering Related Businesses)
  • 10. Q. What did SRTD mean to us @ JEDCO?
    • Our Joint Objectives were to:
    • “ develop an innovation-based culture by supporting new startup businesses.”
    • “ provide grants to individuals with viable start-up ideas.”
    • “ facilitating the connection of the project to the business community and the business sectors in order to ensure its sustainability.”
  • 11. Initiatives taken with the support of SRTD …1
    • Investigating the Feasibility of Establishing a Creative Industries Incubator in Jordan
    • Developing Jordan’s National Startups and Incubation Strategy 2010-2015
    • Establishing a TTO @ JEDCO & Training Staff
    • Developing the JIC Quality Assurance System
    • Becoming a partner in the EU-Jordan Net Project to promote FP7 and facilitate the connection between Academia & SME’s.
  • 12. Initiatives taken with the support of SRTD …2
    • Two new incubators are established (Al-Karak and the Women’s Incubator in Jerash) and become part of the JIC Network.
    • We started with a “face-lift” of the old JIC logo and ended up with a new image all-together!
  • 13. Initiatives taken with the support of SRTD …3
    • Introducing the “Grow-box Tool”
    • Offered a joint SRTD/JEDCO Consultancy Support Programme to incubatees
    • And many training courses & sponsorships…
    • But what was/is still missing:
    • A partnership with a Bank(s)…thus the role of Financial Support Schemes at JEDCO!
  • 14. Plans for 2011-2013
    • Grow the JIC Network…revisit, assess and develop taking into account ideas presented in the draft National Start-ups & Incubation Strategy.
    • Support the offering of Business Counseling Services
    • Continue with spreading awareness of he entrepreneurial culture and provide tailored training opportunities
  • 15. Plans for 2011-2013 cont….
    • Is it about business plan competitions?
    • Facilitate access to finance (VC, Banking Window & Financial Coaching Services)
    • Enhance and grow business networks
    • Allocate Euro 600-700K grants to startups focused on exporting!
    • But most important:
    • “ Utilize JIC members as local economic development agencies.”
  • 16. Thank you & Contact Information
    • Thank you for your good listening
    • For further information:
    • Email: [email_address]
    • Tel. 5603 507 (ext. 2062, 2041, 2404)
    • Website: www.jedco.gov.jo