Iraq Venture Partners, IFC and Innovest join forces to back Iraqi startups
The Freedom Monument, a 50-metre (165-foot) long bas relief made of concrete and metal
Baghdad (IraqiNews.com) – The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East joined forces on the establishment of the Scale Iraq venture, which aims to help 20 Iraqi enterprises.
As a component of the IFC’s larger Scale Mashreq initiative, Scale Iraq will provide Iraqi startups the chance to expand their operations and streamline their products and services.
According to Wamda, ScaleMashreq strives to improve the lives of internally displaced citizens through the PROSPECTS Partnership, an international initiative backed by the Dutch government.
The new initiative, Scale Iraq, according to an IFC release, will support 20 startups by identifying and filling in their specific gaps and needs, as well as by designing and executing interventions specifically tailored to their needs in order to help them get capital and build relationships with potential investors.