The Saudi Arabia-based Digital Cooperation Organization (DCO) has welcomed seed investment company and business accelerator Oasis500 to its growing network of observer organizations, as part of its mission to allow digital prosperity for all.
The Jordanian investor will help entrepreneurs in DC member states with digital economy access. Oasis500, the first investment group to join the DCO, is focused on creating a sustainable entrepreneurial ecosystem. Since its inception in 2010, Oasis500 has invested in and supported over 180 startups in Jordan, resulting in nearly 1200 direct and 4,400 indirect jobs.
The DCO, which focuses on youth, startup entrepreneurs, and women in the digital economy, has nine member states with a combined GDP of over $2 trillion and a population of well over half a billion people. DCO member states provide a huge market opportunity for investors and entrepreneurs alike, as digital growth is expected to account for 70 percent of future economic growth.
“Providing support both financially and through mentorship schemes is something that is both personally important to us, and underpins much of what we do at the DCO. That’s what makes this partnership with Oasis500 such a natural collaboration. On my visits to Jordan, I have seen first-hand the impact that Oasis500’s investments have had on Jordanian entrepreneurs, and we look forward to working with the Oasis500 team to share its expertise with DCO members and the startups they support.”
Ms. Luma Fawaz, Oasis500 CEO, said that “We are delighted to join DCO. We have played a leading role in catalyzing Jordan’s startup ecosystem for more than a decade, resulting in high-value jobs and digitally transformed industries. This partnership will strengthen our relationship, allowing us to exchange learning, knowledge, insights and market access with other DCO members. The digital economy is borderless, and only together can we drive its growth.”
Earlier this year, DCO launched the Startup Passport initiative to remove red tape for startups wishing to scale across member state markets, as well as the Elevate50 partnership with eCommerce platform MakanE to enable 50,000 startups to successfully migrate their businesses online as part of its commitment to supporting entrepreneurs.