Fueling Innovation in Iraq: USD 2.8M Boost

Iraq Venture Partners announced that it has received funding worth 2.6M EUR (about USD 2.8M) from the Kingdom of the Netherlands to support the second phase of the Orange Corners Innovation Fund.

This funding aims to strengthen the capabilities of Iraqi entrepreneurs by providing technical expertise, expanding their networks locally and internationally, in addition to providing direct financial support that contributes to developing the entrepreneurship environment in Iraq

In a bold move to reshape Iraq’s entrepreneurial landscape, Iraq Venture Partners (IVP) has secured €2.6M (roughly $2.8M) from the Kingdom of the Netherlands. This investment will power the second phase of the Orange Corners Innovation Fund, a groundbreaking initiative designed to elevate Iraqi entrepreneurs to new heights. This investment aims to empower Iraqi entrepreneurs by providing them with technical expertise, expanding their local and international networks, and offering direct financial support to strengthen the entrepreneurial ecosystem in Iraq.

A Key Step for the Iraqi Economy

The second phase of the fund was officially launched at a signing ceremony held at the Dutch Embassy in Baghdad. The event was attended by representatives from the Dutch government, Iraq Venture Partners, and several organizations committed to supporting small and medium-sized enterprises (SMEs).

This funding marks a significant milestone in Iraq’s economic development, fostering innovation and enhancing the competitiveness of entrepreneurs in both local and global markets. It also underscores the Dutch government’s commitment to advancing entrepreneurship in the region and expanding cooperation between the Netherlands and Iraq in the field of innovation.

Thriving Entrepreneurship in Iraq

The entrepreneurial landscape in Iraq has been seeing notable growth in recent months, with several high-profile acquisitions and funding deals. Recently, a major telecommunications company acquired the Iraqi educational tech platform, Eduba, for an undisclosed seven-figure sum. Additionally, last month, QiCard announced the acquisition of the Iraqi e-commerce platform, “Miswak,” in a seven-figure deal. Miswak will soon be integrated as a mini-app within the SuperQi platform, enabling it to reach a broader customer base.

This funding and these developments signify a new era of growth and innovation for Iraq’s entrepreneurial sector, with the potential for increased global collaboration and success.