Session 2: Start-ups & IncubationContinued Support from JEDCO

Hana Uraidi – Director of Cross Cutting Support/JIC Network Director

Contents1. JEDCO – Sustainability Partner & Developing

an Effective Business Continuity Plan2. Why Business Incubation is Strategic to GoJ?3. Most Common Incubation Services Needed?4. Current JIC members5. What did SRTD mean for JEDCO?6. Initiatives taken with Support of SRTD7. Plans for 2011 – 2013 8. Thank you and Contact Information

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 …

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!

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

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.

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

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

Current JICs are established at:1. Al-Hassan Science City (Royal Scientific Society) 2. HCST (Ipark) – (pipeline BIC)3. Jordan University – Agro-Business Incubator 4. Al-Hassan Industrial Estate (BIC)5. Al-Hussein Bin Abdullah II Industrial Estate (BIC) 6. Jordan Forum for Business and Professional

Women (Amman & Jerash)7. Philadelphia University (Engineering Related

Businesses)

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.”

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.

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!

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!

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

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.”

Thank you & Contact Information

Thank you for your good listeningFor further information:

Email: hana@jedco.gov.joTel. 5603 507 (ext. 2062, 2041, 2404)

Website: www.jedco.gov.jo