Oasis500

Oasis500 is an ICT, digital media and mobile sector business accelerator and investment company based in Amman, Jordan.

Oasis500 is an early stage and seed investment company, the first of its kind in Jordan and the MENA region. The company began with a notion; building a new platform for entrepreneurship by helping passionate ambitious entrepreneurs start their own companies. The program at Oasis500 includes entrepreneurship training, mentorship guidance, incubation, acceleration and additional follow-up investment funds if required. It nurtures creative ideas in Information and Communications Technology (ICT), Mobile and Digital Media, transforming them into startup companies.

In a May 2012 op-ed column from The New York Times, Thomas Friedman wrote that "There is no tradition of venture capital in the Arab world, so Oasis500 is a pioneer."^[1]

Goal

The goal of Oasis500 is to help 500 regional startup companies in the ICT sector in the first five years following the start of its operations.

Process

Selection

Oasis500 looks for enthusiastic eager entrepreneurs that stand out, whether someone with a feasible idea or an existing startup.^[2]

Training Bootcamp

The Oasis500 training Bootcamp is an extensive six-day training held at the Oasis500 headquarters. It covers all business aspects, including business modeling, financials, pitching, facilitation and marketing, among others. This experience is designed to prepare entrepreneurs for the upcoming stages that they will be facing in order to reach their goals, and create a successful startup from their innovative idea.^[3]

Pitching Process

After the training Bootcamp, the pitching process begins and lasts for about 4–5 weeks. There are several stages of pitching:

1. In-House Pitch: Each entrepreneur pitches his/ her idea in front of a group of Oasis500 staff. The entrepreneur later receives feedback, either asking them to fix their presentations according to the feedback and re-pitch; or they are accepted to the later stage of pitching.
2. Jury Pitch: The entrepreneurs that were accepted during the in-house stage will be asked to pitch in front of a jury, which will be attended by several investors as well as some Oasis500 staff. After the entrepreneurs finish their pitches, they will receive feedback regarding their pitches, either asking them to fix their presentations according to the feedback and re-pitch; or they are accepted to the Business Model Training.
3. Business Model Training: The entrepreneurs will be invited to attend a 2-day Business Model Training, where each will have the chance to individually work on their own business model, with the help of the trainer.
4. 10K pitch: After the 2 day Business Model Training, each entrepreneur will pitch their idea in front of Oasis500’s founder Dr. Usama Fayyad and the internal investment team as the final stage. This is where the decision is made on whether the entrepreneur will get the funding or will have to come back and re-pitch.^[4]

Investment

Entrepreneurs that have passed the training and pitching stages that aim at refining and stress testing the ideas are now eligible for funding based on specific metrics and criteria set by a designated in-house jury, and subject matter experts.^[5]

Mentorship & Acceleration

This is one of the most vital parts of the program. Successful entrepreneurs who manage to get their seed investment from Oasis500 gain an automatic incubation and acceleration period at Oasis500 offices in Jordan. This is a 3-month (100 days) period where startups accelerate and achieve milestones and goals that others without the same level of assistance usually need a significantly longer time to achieve.^[6]

Angel Network

Oasis500 Angel Network serves ICT, digital media and mobile companies through key investment stages and prepares them for funding by venture capitalists and private equity funds. The goal is to build a culture around early stage investment in the region and provide a proper platform that exposes carefully pre-selected start-ups, who are looking for angel capital, to potential angel investors.^[7]

References

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