Baghdad-based Alsaree3 Group raises Bridge funding round

Posted on April 16, 2021 by -

Alsaree3 Group, consisting of Alsaree3 (food-delivery) and Al Zajel Express (last-mile delivery services), has closed a 7-figure Bridge funding round. Coordinated by Iraq Tech Ventures and Innovest ME, the round included prominent Iraqi investors such as Euphrates Advisors, Shwan Ibrahim Taha, Chairman of Rabee Securities, Rawaz Rauf of Hiwa Rauf Group, Bassam Falah, CEO of Innovest ME, and Mohammed Khudairi and Subhi Khudairi of Khudairi Group.

Alsaree3 launched in 2018 in Baghdad and began focusing on expanding its fleet of in-house drivers and steady geographical expansion within the city. It prioritizes the experience for customers and restaurant partners, and now has an extensive selection of restaurants for its customers (500+ restaurants) across Baghdad. The startup uses its POS technology and hardware to meet Iraq-specific needs of both its customers and partners.

In early 2020, Alsaree3 Group launched Al Zajel, which provides e-logistics services in Baghdad. It serves a wide variety of public and private sector clients in Iraq, as well as individuals through the Al Zajel mobile app.

Founder and CEO of Alsaree3 Group, Bassam Al-Ateia commented, “With this funding, we look forward to growing our fleet of drivers, improving our technology, and adding even more restaurant partners to maintain Alsaree3’s dominant position in the food delivery space in Baghdad. We will continue to grow Al Zajel’s client base, which serves B2B, B2C, and C2C markets in Baghdad.” The group is also expanding both Alsaree3 and Al Zajel to Basra, where the food delivery and e-logistics markets are underserved.”

Geoffrey Batt, Founder and Managing Member of Euphrates Advisors said, “Alsaree3 is part of a vibrant group of startups that seek to transform commerce in Iraq, using technology to problem-solve and offer Iraqis goods and services that will greatly improve their quality of life. Bassam and his talented team will play a vital role in developing e-commerce in Iraq by making the last step in the fulfillment process as efficient as possible. We are delighted to play a role in Bassam and Alsaree3’s efforts to modernize Iraq’s supply chain.”

Bassam Falah, CEO of Innovest ME said, “Alsaree3 has all the requirements for success: a well-grounded founder with business acumen, a solid founding team, a superior platform, a strong ground operation, and to close the circle, a consortium of strategic investors with a long- term view. This capital raise round was a key milestone for Alsaree3, and we look forward to continue to work closely with Alsaree3 management and the co-investors to be part of its exciting journey.”

“Alsaree3 is the type of company we should all be proud of in Iraq. Companies like Alsaree3 are the workhorses that will drive the Iraqi economy,” added Shwan Ibrahim Taha, Chairman of Rabee Securities in Iraq.

Orisdi Raises Six-Figure Bridge Round

Posted on February 23, 2021 by -

Iraq-based e-commerce platform Orisdi, has raised a six-figure bridge round led by Innovest Middle East VC, with participation from a group of angel investors, including Amar Shubar, a partner of Management Partners Consulting and Omar Al-Handal, managing director of Al Handal International Group.

Orisidi, named after a centuries-old popular retail brand in Iraq, offers a wide range of products, such as perfumes, cosmetics, stationery, electronics, groceries, toys, baby care products, appliances and home and kitchen supplies. The startup offers its clients a 48 hours return and exchange policy with no shipping fee, aiming to increase customer trust in the nascent online shopping market in Iraq.

Orisidi was founded in 2019 by Ahmed Al Kiremli, Hussain Ali and Azer Al Akaish. The three founders bootstrapped the e-commerce startup to seven figures in net sales, with over 30,000 product SKUs.

Ahmed Al Kiremli, co-founder and CEO of Orisdi said: “Orisdi’s vision is to be the Amazon of Iraq, and what will enable us to achieve this big vision is our customer obsession approach, the brand, product range, our cutting edge marketing techniques and the efficiency of our processes. Our top priority is putting customer needs and convenience at the center of everything we do across all departments by providing a great customer experience as a customer-centric company.”

Since its launch, Orisdi’s compound monthly growth rate has reached 23 per cent, and is expected to grow by 15 per cent month over month.

“Innovest has been one of the first regional VCs to enter the Iraqi market, and despite all challenges, our long-term outlook remains optimistic about the potentials and business opportunities in Iraq. Our recent investment in Orisdi is yet another testament to our continued belief in Iraq’s startup ecosystem and its young and promising talents,” said Bassam Falah, founder and managing partner of Innovest Middle East VC.

Prior to today’s fundraise, Orisdi raised a six-figure seed round led by local and international angel investors.

“At Management Partners, we are seeing a strong double-digit growth over the next years in the e-commerce market in Iraq, which is still at an early stage compared to the rest of the region. Besides convenience and wider product range access, Iraqi consumers are looking for price-competitive offers – even more now due to the recent devaluation of the Iraqi dinar. Classical shop retail in Iraq suffers from high distribution inefficiency and sub-scale economics, which lead to 20-30 per cent higher retail prices compared to the UAE,” said Shubar.

Orisdi’s e-commerce model and innovative supply chain approach addresses the current inefficiencies in the Iraqi retail market as well the consumers’ needs for price-competitive offers, a wider product range, and increased convenience,” he added.

For the past two years, Al-Handal International Group has been closely monitoring the exponential growth in the Iraqi online market, specifically e-commerce, which demonstrated promising results for the future. After conducting various business studies between different e-commerce businesses, we are confident that Orisdi would be the perfect fit for us, as they are held to be leaders in the Iraqi online market,” said Omar Al-Handal, managing director of Al Handal International Group.

INNOVEST Middle East: Principal Sponsor of IBBC Autumn Conference – Dubai

Posted on December 11, 2019 by -

 

As part of what it does in terms of embracing high-potential Entrepreneurs in the Middle East specifically in Iraq, INNOVEST Middle East participated in the IBBC Tech Forum as a main sponsor that was held at The Address Dubai Marina on the 8th of December, 2019.

The forum that was entitled “Together we build Iraq” gathered experienced political-industrial figures working in the Logistics sector in Iraq to discuss ways to improve the situation in Iraq and rebuild its economy. The focus was mainly on the major problems Iraqis are suffering from including lack of housing, pollution, poverty, and corrupt regulatory and financial systems, trying to explore the role of logistics in moving the country to a better status.

Distinguished speakers included H.E Mr Abdulla Ahmed Al Saleh, under-secretary Foreign Trade and Industry UAE Ministry of Economy, Dr Dara Rashid, senior deputy minister of housing construction and municipalities GOI, Mr Talib Abdullah Bayesh, deputy Minister of Transport and Mr Simon Penney– HM Trade Commissioner for the Middle East, along with Baroness Nicholson, President of IBBC and Prime Minister’s Trade Envoy to Iraq, Azerbaijan, Kazakhstan and Turkmenistan.

Bassam Falah – CEO of INNOVEST Middle East presented Ruwwad Al Iraq and how this 8-month program has generated prosperity on the Iraqi commune. Surprisingly enough, the platform is tracing its existence on every young Iraqi who is willing to revert to the private sector instead of public one and achieve a pending dream that has always been in the imaginary world.

Registration to Ruwwad Al Iraq started on the 1st of December, 2019 and will continue to the end of January 2020. Registration is online through the following link:

www.ruwwadaliraq.com

INNOVEST Middle East Partake in Digital Mashreq Forum – Jordan

Posted on July 4, 2019 by -

 

INNOVEST Middle East participated in a high-leveled conference that targeted a crucial topic; Digital Economy and Entrepreneurship Development in Mashreq countries organized by HRH Crown Prince Al Hussein Bin Abdullah II, the Government of Jordan and the World Bank Group. This two-day Digital Mashreq Forum happened on the 29th and 30thof June 2019 at the King Hussein Business Park in Amman. The forum linked up officials and business representatives from Jordan, Iraq, and Lebanon. The three countries were represented by HE Mr. Mothanna Gharaibeh – Minister of Digital Economy and Entrepreneurship (Jordan), HE Mr. Naeem Al-Rubaie – Minister of Communications (Iraq), and HE Mr. Adel Afiouni – Minister of State for Information Technology (Lebanon).  The discussion addressed the future of the Mashreq region’s digital economy through identifying the challenges and solutions that would allow Mashreq countries to realize more gains to their economies and societies and plan a comprehensive strategy for growth.

Bassam Falah – CEO of INNOVEST Middle East joined the Panel on regional trends in entrepreneurship development, with ecosystem players and entrepreneurs from the Mashreq region who shared their experiences and impact, discussed challenges and opportunities facing their growth in their home countries, and concluded with key recommendations to scale digital entrepreneurship in each country.

Falah mentioned Iraqpreneurs platform – Entrepreneurial Empowerment Platform in Iraq that helps young entrepreneurs to start or scale up their businesses.
“We invest in pre seed and seed funding as well as value creation in-kind support where we provide startups with access to resources that are important for their scale up,” Falah said.

“One of the main experiences we want to share is about Iraq with the platform we launched “Iraqpreneurs”, based on that I would say that one of the challenges startups face there is access to funds. Most of the startups that you will see are using their own resources or the resources of family and friends. We have to work together in attracting investors and institutional investors as well,” He added.

It is important to note that the expected destination for the next Digital Mashreq Forum is Beirut on June 2020.

For more information about the Forum, please visit:
https://www.worldbank.org/en/events/2019/05/19/digital-mashreq-forum#2

Article by INNOVEST Middle East CEO – Bassam Falah on Forbes Magazine

Posted on June 3, 2019 by -

 

For most, a job provides security, skills development, exposure and a paycheck by the end of the month. However, for many, the aspiration to pursue our own venture eventually begins occupying our thoughts.  An idea that may have started to cultivate during the various phases of our career gradually evolves to become a business plan with a timeline that includes submitting a resignation.

Many make the move from corporate to entrepreneurship successfully, while others struggle and eventually decide to return to the corporate world. To increase your chances of success, your leap should never be one of faith alone, but also of planning and preparation.

Here are six important steps to smooth the slope before you make your leap.

Discover your why?

Starting your own business is a long-term commitment. The journey is not always as smooth, rosy and rewarding as most of us may perceive it to be. It is a challenging journey that one can only enjoy, appreciate, and in some cases endure, if driven by a strong “why?”

Wanting to be your own boss, build something for yourself and enjoy the freedom are not enough reasons. You need to scratch the surface and have a deep dive into your values, your passions and a clear sense of purpose that drives you.

Reality check

When we work at large organizations, we enjoy a huge support system that complements and amplifies the impact of our contributions, such as financial capabilities, experience and skills from different support functions, shared services, leverage over suppliers, access to data and research—the list goes on.

However, it is human nature to overrate our contributions, and often we associate the overall success of our corporate role to our own contributions, and underestimate the role of the support system in our success. Taking the leap with such a mindset is risky.

It is extremely important to analyze the support system that you are about to lose, and pen down the supplemental resources and skills you crucially need for your startup. You will not be able to acquire such a support system at day one and a solution is usually to seek the support of pre-seed accelerators, or establish coalitions and partnerships that could bridge such a gap as much as possible.

Calibrating your business management gears

Startup CEOs are very different from growth CEOs, both in terms of management style and skill set. It is important to analyze your management style and the new skills you will require as an entrepreneur, and draft a personal self-development action plan to be well-equipped for the new journey.  Identifying a mentor or a business startup coach could be of great help in such cases.

Bootstrapping your personal financials

You need a clear mind and the ability to focus 100% on your startup when you make that leap. Start bootstrapping your personal expenses well ahead of your move and ensure you are free of bad debts, which are debts that do not generate any revenue. Good debts are fine if they are self-supported debts.

If you can, try during your corporate years to implant investments that generate passive income streams. These come in useful once you make the move and lose the luxury of receiving a paycheck by end of every month.

Build your new startup ecosystem network

One reality that you will discover as you make the move is that most of the business network you have was linked to your corporate business card and title and not to yourself. Make sure to manage your expectations from your corporate business network, especially if your future business depends on assumptions that involve your previous corporate network.

Moreover, the network space of the corporate environment is quite different from that of a startup.  Try to start building bridges with the startup ecosystem, such as incubators, accelerators, startup communities, VCs, Investor, suppliers and others.

Validate your minimal viable product (MVP)

Creating an MVP will give you the opportunity to test your product or service and assess your ideas as a business proposition. Validating your MVP and finetuning is a lengthy process that could be done overtime and in evenings. Accomplishing this milestone before making the leap is highly recommended as it will serve you positively in the leap.

Article Published on Forbesmiddleeast.com By: Bassam Falah, CEO of INNOVEST Middle East

https://www.forbesmiddleeast.com/how-to-successfully-leap-from-the-corporate-world-to-entrepreneurship

INNOVEST Acceleration Platform in Iraq- Ruwwad Al Iraq – closes its 2018/2019 round with Gala Iftar & Grand Award Ceremony

Posted on May 16, 2019 by -

 

After 9 month of continuous support to Ruwwad Al Iraq platform since its launch on September 13th, 2018, INNOVEST adopted the final stage of Iraqpreneurs Competition: The Awards Ceremony & Iftar (2018/2019). The ceremony  took place on the 15th of May 2019 at Babylon Rotana Hotel in Baghdad in presence of organizers of the platform such as The World Bank, and Iraqi Media Network (IMN) as well as the Founding Partners including Central Bank of Iraq, Zain Iraq, and Iraq Private Banks League. The attendees of the Ceremony also included Dr. Mahdi Al-Alaq, Counsellor of Prime Minister and Dr. Ali Al-Alaq, Governor of the Central Bank of Iraq, as well as VIPs and representatives of other supporting companies.

“Such initiatives are the best solution to the problem of youth unemployment and the future of our country” Mahdi al-Ala, Adviser to Prime Minister said in his speech, praising all the efforts of Iraqpreneurs and support of the organizers of the platform.

The event was organized to honor the finalists of Ruwwad Al Iraq Competition and to let them compete on the 1st, 2nd& 3rd ranks of each category; “Socialpreneur”, “Idea Stage” and “Scale-up Stage” by presenting their startups to a judging panel formed of 5 judges; Ms. Yarah Salem – World Bank Country Manager in Iraq, Ms. Dawsar Al Charchafchi – March Holding Board Member, Mr. Nour el Handhal – Chairman of the Board of Directors of Ashur Bank, Mr. Waled Eidy – Senior Advisor to the Central Bank of Iraq and, Mr. Ali Al Zahid – CEO of Zain Iraq.

Bassam Falah, CEO of INNOVEST Middle East, said in his speech “Our mission is to support entrepreneurs and startups in the Middle East and on span of 9 months, Iraqpreneurs platform was able to achieve there majority of its goals including the nonstop support to our winners and applicants.” Falah awarded Ms. Yara Salem, World Bank Country Manager in Iraq, Innovest Passion Award for her instrumental contributions and support to the launch of Iraqpreneurs platform.

Based on judging panel’s scores, “Smart Container” came in the 1st place in Socialpreneur category and won a US $10,000 prize, followed by “Asdikae Magazine” who got the 2nd place and won US $5,000 and finally “Ikfal Nakhla” who was awarded US $2,500 for the 3rd place. Concerning other categories, 1st place was for “Garages App” in Idea Stage Category who won US $10,000, 2nd was “Plant Tissue Culture” who got US $5,000 and 3rd was “E-Capsule” awarded US $2,500. For Scale-Up Stage Category, 1st place US $20,000 was awarded to “Alsaree3”, “6262” won the 2nd place US $10,000, and the 3rd place US $5,000 was awarded to “Dakakenna”.

As a generous encouraging gest, Governor of the Central Bank “Dr. Ali Al-Alaq” surprised the participants with an additional support award worth 6 million IQD offered to each of the 9 winners.

Dr. Al-Alaq explained the need to support youth initiatives and enable them to take advantage of and benefit from their potential. “We all believe in the capabilities of Iraqi youth and embracing youths in this period is of utmost importance especially with the help of Tamkeen Fund, Central Bank of Iraq, and Initiatives like Iraqpreneurs platform,” Al-Alaq said. “Today we are gathered with our winners, and as the program was proceeding, we were noticing the vivid mobility among young Iraqis so this program paved the way for young energies in the country to reveal,” he added.

It is important to note that Iraqpreneurs platform was launched last year on the 13th of September 2018 to help young entrepreneurs in Iraq to achieve their goals and develop their own projects by providing in-kind and cash support worth more than USD $100,000.

Since the launch of Ruwwad Al Iraq platform, more than 3000 applicants registered their ideas/projects on platform’s website. The number was reduced later as the competition proceeded to 200 qualifiers in round 2, and then 30 qualifiers in round 3 (10 participants from each category), till reaching 9 winners (3 participants from each category) in the final round.

On span of 9 months, the platform attracted more than 100,000 followers on social media, and more than 11,000 contacts through university activations. Moreover, the platform offered 4,400 e-learning courses to its qualifiers and issued more than 2,200 e-certificates.

Registration window for Iraqpreneurs 2019-2020 Round will start on the 15th of September 2019.

Click on the link below to watch the Awards Ceremony:

https://www.youtube.com/watch?v=Ls21agKKYXw

Click on the link below to watch a shortened version of the 9-month program:

https://www.youtube.com/watch?v=LPZbBArt5fc&t=15s

INNOVEST Passion Award – 2019

Posted on May 15, 2019 by -

 

We are glad to announce that INNOVEST 2019 Passion Award was presented to Ms. Yara Salem, World Bank Country Manager of Iraq, for being the backbone of Ruwwad Al Iraq Platform and supporting it nonstop since its launch last year.

The Award was given during Ruwwad Al Iraq Awards Ceremony & Iftar that took place on the 15th of May 2019 at Babylon Rotana Hotel in Baghdad.

During her speech, Ms. Salem mentioned that “The economic situation of Iraq is improving which requires the creation of job opportunities for Iraqi youths who constitute the majority of Iraqi society. The World Bank is working with the Iraqi Government to develop support for young entrepreneurs by “Iraqi digital ecosystem platform” that we will establish in the following  couple of days.”

INNOVEST Supports young Entrepreneurs across the Arab world

Posted on March 18, 2019 by -

 

For the second time, MBC AL AMAL hosted MENACatalyst Foundation and Pitch Challenge finalists in Dubai for a series of discussions that addressed the role of entrepreneurship in social and economic development.

MENACatalyst is a network that focuses on building the “Palestinian virtual global economy”; by connecting internationally based business leaders and investors from the Palestinian diaspora with local based entrepreneurs and startups.

The core of INNOVEST’s mission is to help and support entrepreneurs in the Arab region, and being part of this initiative was a pleasure!

Learn more: https://youtu.be/pjUDDEaIEkA

INNOVEST Launches “UAEpreneurs Investor Day” Event

Posted on March 5, 2019 by -

 

After 12 weeks of collecting applications and screening startups for UAEpreneurs Initiative, it all came down to this!

UAEpreneurs Investor Day 2019 took place at Address Hotel Dubai Marina. 13 highly selected startups from UAE, Egypt, Palestine, and Iraq, pitched at this event in front of angel investors, supporters of the initiative, and eco-system partners for a chance for funding and other support to grow and scale up their ideas.

Thank you to all startups who participated and to our partners who made this event possible: The University of Manchester Middle East Centre, Johnson & Johnson, LG, Startup Grind Dubai , womena, Dubai Technology Entrepreneur Campus – Dtec, AUC Venture Lab Cairo, DubaiSME , MENACatalyst Foundation The Executive Centre Dubai.

Congratulations to all the startups and best of luck in your endeavors!

Click on the below link for additional information about the event:

https://bit.ly/2KyuesI

INNOVEST ME: BRANDZ FACTORY New Branch Opening in Baghdad

Posted on February 22, 2019 by -

 

We are pleased to announce the opening of BRANDZ FACTORY branch in Baghdad, Palestine Street, Al Nakheel Mall, 2nd floor for womenswear and kids-wear.
The opening attracted plenty of masses due to special offers and discounts up to 80% on all international brands.

Click on the below link to watch the opening:

 

INNOVEST Ownership Award – 2018

Posted on November 15, 2018 by -

 

Congratulations to Samer Al Serhan for deservedly winning the 2018 INNOVEST Ownership Award.
Samer’s Cando Attitude and Ownership Spirit gained him respect among all his business stakeholders, and left its marks across our different ventures in Iraq. Samer was given the award during a meeting with the team on the 15th of November 2018. We wish him a long, successful, and fulfilling journey with us!

Innovest Launches “Ruwwad Al Iraq 2018” In Collaboration With World Bank And Al Iraqia Media Network

Posted on October 7, 2018 by -

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The launch of Ruwwad Al Iraq platform was announced in the presence of representatives from INNOVEST Middle East, the World Bank, and the Iraqi Media Network (IMN) as well as the Founding Partners- Central Bank of Iraq, Zain Iraq, and Iraq Private Banks League. Ruwwad Al Iraq is the first initiative of its kind that aims at helping young entrepreneurs and start-ups across Iraq to achieve their dreams and develop their own projects. Ruwwad Al Iraq is a competition platform that invites participants to submit their innovative ideas or startup business plans in a bid for financial and in-kind prizes that will contribute in bringing their dreams to life.

The launching of this platform took place during a press conference held at Babylon Warwick Hotel in the capital of Iraq, Baghdad on 13th September 2018.

The inauguration speech was given by Mr. Ali Al Hilli, Entrepreneurship Consultant at Zain Iraq, who introduced the platform’s objectives, key stakeholders, and stages and explained how to participate in the platform competition.
Al-Hilli gave the floor to Dr. Ali Mohsen Ismail Al-Allaq, Governor of the Central Bank of Iraq and Head of the Board of Directors of the Tamkeen Fund, who emphasized on the important role entrepreneurs play in boosting the economy of Iraq. He added that “supporting the Tamkeen Fund by giving away grand prizes on the Ruwwad Al Iraq platform is part of supporting youth initiatives and innovations, which are deemed the future of the Iraqi economy.” He also thanked everyone who contributed to the Tamkeen Fund from private Iraqi banks and other financial institutions enabling the fund’s successive initiatives to support multiple activities benefiting large segments of society.

Mr. Mujahid Abu Al-Hail, Head of the Iraqi Media Network, spoke of the national responsibility that lies on the media to support entrepreneurs and shed light on their innovations and projects. “The media constitute an essential part of economic reform and development, because of their power in forming the public consensus. Our network supports this platform because it encourages people in developing countries to become more competent and conscientious about job and investment opportunities as well as trade opportunities,” he added.

Mr. Ali Al-Zahid, Chief Executive Officer of Zain Iraq, stressed on the important role the private sector plays in supporting and promoting young talents and startups. “We congratulate all the organizers of this project on launching the Ruwwad Al Iraq platform that will foster young Iraqi innovators,” continued Al-Zahid. “We, at Zain Iraq, have long been supporting and empowering youth in various fields, including entrepreneurs and start-ups, to develop their projects and gain as well as exchange expertise in the field of technology and information technology and communication. We believe that future development in Iraq and the region will be led by young innovators in the field of technology. Hence, we are always seeking to build awareness and promote opportunities that reinforce creative talents by contributing to shaping future entrepreneurs,” he added.

In turn, Ms. Yara Salem, The Special Representative of the World Bank’s mission in Iraq, asserted that the Ruwwad Al Iraq initiative is at the core of the World Bank’s main objectives, which focus on creating more job opportunities for the youth and giving them the chance to play an important role in the process of construction, development and establishment of peace and stability. This could promote economic, social and personal development in Iraq.

Ms. Salem also added that “Ruwwad Al Iraq provides young people with a chance to address their problems, priorities and ideas in order to overcome the impasse of unemployment and the lack of job opportunities and capacities, and actively participate in a creative and innovative way in developing social solutions in different fields including education, health, water, among others including technology-use solutions. Therefore, this initiative is characterized by building the foundations of community participation among the youth in the process of reconstruction and the rebuilding of the Iraq of tomorrow.”

For his part, Mr. Wadeea Nouri Al-Handal, Head of the Iraq Private Banks League, emphasized on the importance of the role banks play in supporting innovators and startups and added “we are working to provide startups with funding and soft loans through the banking sector and also contribute in providing them with the necessary training to launch and develop their own projects.”

Then Mr. Bassam Falah, Founder, and CEO of INNOVEST ME took the floor and commended the role played by the founding partners who supported the creation and establishment of the Ruwwad al Iraq project and stressed on the importance of the collaboration between the public and private sectors in building State economies and developing societies. “We are proud to take part of this national initiative, which would move the Iraqi economy forward,” said Mr. Falah. “The youths are the future and #the_future_starts_now,” he added.

Watch the video of the press conference at: https://goo.gl/EhjV9M

2018 Ruwwad Al Iraq – Iraqpreneurs “Logo Design Competition” Winner Awarded $10,000

Posted on July 29, 2018 by -

Baghdad, Iraq, 28/6/18

Today INNOVEST ME, the growth hacking- business acceleration investment firm that empowers entrepreneurs during their startup stage and SMEs during their market expansion phase, awarded the winner of its “Logo Design Competition” Graphic designer, Ali Al Tahhan. The competition received more than 500 designs and engaged hundreds of participants from all across the Arab World.

For the pre-launch of Ruwwad Al Iraq, the “Logo Design Competition” was launched to provide the youth sector a unique opportunity to take part in creating the incubation platform that aims to identify high potential entrepreneurs and startups in Iraq. This platform will empower start-up talents with the winning tools and resources needed to successfully launch in Iraq and eventually expand in the region and globally.

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Bassam Falah, Founder and Managing Director of INNOVEST ME alongside the Executive Management Team awarded the winner, Ali Al Tahhan the prize money cheque of $10,000 USD in Babylon Hotel, Baghdad. “Ruwwad Al Iraq aims to shed light on the crucial and valuable role of entrepreneurs and their ability to drive economies and to develop prosperous societies. In addition, we are confident that their skills will contribute to the national income through their entrepreneurial ventures, create new businesses and provide new employment opportunities. Entrepreneurs are a national asset that must be cultivated, trained and incubated as they are the main vehicle to move an economy forward,” said Bassam Falah.

Bassam Falah further added: “Our aim is to build communities of innovators in various sectors, to create new partnerships, to solidify individual and collective efforts, to achieve local, regional and global prosperity and to provide sustainable development to the people and the community thus fulfilling their aspirations for a more stable, secure and dignified life.”

Duaa Adnan, Marketing Manager of Ruwwad Al Iraq, praised the design of the winning logo that was selected by the distinguished panel of judges, comprised of business leaders in Marketing and Communications from Iraq and the Middle East. The logo design was selected based on specific eligibility criteria such as creativity, design craftsmanship, distinctiveness, simplicity, equity and most importantly its embodiment of the entrepreneurship spirit and Iraqi culture.

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Ruwwad Al Iraq is a platform that will provide entrepreneurs in Iraq the opportunity to start or scale up their business and will compete in three main categories, the “Startup Idea” stage, “Scale Up” stage and “Socialpreneurship” stage. The winning finalists will be awarded more than $100,000 in financial, in-kind and capacity building prizes. Applications will open August 1st, 2018. Visit www.iraqpreneurs.com or www.ruwwadaliraq.com for more info.

INNOVEST ME Collaborates with The American University in Dubai (AUD) to Empower the Youth within The Startup Ecosystem

Posted on April 26, 2018 by -

As part of our contributions to empower the youth within the startup ecosystem, INNOVEST ME is collaborating with the American University in Dubai (AUD) to run interactive sessions and workshops for the senior graduate students. Moatassem Moatez – INNOVEST ME Business Partner – delivered a fiery workshop on “Strategic Marketing” within the startup context, sharing real-life practical examples of regional and global best practices.

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We had the pleasure to have Bishr Hamwi- Head of Digital Marketing at Gourmet Gulf – as a guest speaker on the topic “Service Marketing”. An excellent interactive session during which he shared with the American University in Dubai senior Graduate students the importance of building Brand Advocacy, and some great examples of how leading brands such as CPK (California Pizza Kitchen) drive their service levels towards excellence.

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INNOVEST Passion Award – 2017

Posted on February 25, 2018 by -

We are happy to announce that the INNOVEST Passion Award for this year was presented to MBC HOPE in recognition for their amazing #Shabab2030social entrepreneurship program.

The award was presented during the #Shabab2030 “Investor & Networking” event which INNOVEST Middle East helped in organizing at the Versace Hotel in Dubai on the 18th of January, 2018. The event was intended to provide finalists with a unique platform to pitch their businesses to an active audience of investors, organizations and support groups within the startup and entrepreneurship ecosystem.

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Mariam Farag, Head of CSR at MBC Group, received the award on behalf of MBC HOPE from Bassam Falah, Founder and Managing Director of INNOVEST Middle East

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The “IRAQPRENEURS-RUWWAD AL IRAQ” LOGO DESIGN COMPETITION WINNER

Posted on January 1, 2018 by -

We are proud to announce that the winner of the IRAQPRENEURS – Ruwwad Al Iraq Logo Design Competition is graphic designer Ali Al-Tahhan. Ali holds a Bachelor’s Degree in Life Sciences from The University of Al Mosul in Iraq, is a teacher and speaks Arabic and Turkish fluently. Ali finds interest in photography/video and 3D design.

The IRAQPRENEURS Logo Design Competition winning logo was selected based on specific eligibility criteria that included but was not limited to the distinctiveness, esthetic visual design, equity, modularity & application and simplicity of the logo.

This competition was created to provide the Arab youth a unique opportunity to take part in creating what will be an incubation platform that will identify high potential entrepreneurs and startups in Iraq. The winning logo will be showcased at the launch of IRAQPRENEURS this upcoming March.

“IRAQPRENEURS-RUWWAD AL IRAQ” LOGO DESIGN COMPETITION ESTEEMED JUDGING PANEL ANNOUNCED

Posted on December 15, 2017 by -

IRAQPRENEURS is pleased to announce the Judging Panel for the Logo Design Competition that is currently underway and is part of the prelaunch of the IRAQPRENEURS entrepreneurship platform.

The Logo Design Competition ran for one month between November 1st-30th 2017, and managed to attract more than 250 talented participants. The winner will receive $10,000 cash prize and an appreciation certificate.

The esteemed Judging Panel will cast its vote based on a Judging Panel Scorecard and will help select a winning logo for the IRAQPRENEURS- RUWWAD AL IRAQ Logo Design Competition 2018 from the top 20 shortlisted logo designs.

 

INNOVEST Middle East announces the prelaunch of “IRAQPRENEURS – Ruwwad Al Iraq”: with a Logo Design Competition and the opportunity to win $10,000

Posted on November 1, 2017 by -

On November 1st 2017, INNOVEST ME kicked off the prelaunch of IRAQPRENEURS – RUWWAD AL IRAQ; what will be the leading entrepreneurship competition platform in Iraq. This incubation platform will help identify high potential entrepreneurs and startups in Iraq and will empower them with the winning tools and resources needed to launch successfully in Iraq and eventually expand beyond.

In order to develop a brand identity for IRAQPRENEURS, the Logo Design Competition will continue for one month and is open to all applicants from all over the Arab World. Logo designs are required to follow specific guidelines including; the need to represent Iraq and its culture, to capture key concepts such as innovation, startups and entrepreneurship, to create a unique and original font, to be in both Arabic and English and most importantly for the logo design to target the youth.

A judging panel will be nominated and selected for the IRAQPRENEURS Logo Design Competition to vote for the winning logo that will be announced by the end of the year.

logo