Members News

Keen to continuously provide value-added services to its customers and their employees, Menaitech signed a cooperation agreement with Challenger Team that invests in building human capital skills needed for ideal business growth and success.

The agreement comes as part of Menaitech’s strategy to provide a variety of services and tools within its comprehensive system and entails developing employee leadership skills and societal values ​​through training programs that are customized for Menaitech’s customers and offered at competitive prices.

Distinguished by its impact in leadership development, youth empowerment, and skill development, Challenger Team has, since its foundation in Jordan in 1995, expanded its development of societies to include Saudi Arabia, Bahrain, Switzerland, and the United Arab Emirates. The new cooperation is expected to support mutual efforts and enhance common goals between the two sides toward further developing human capital.

WITSA Chairman Dato’ Dr Sean Seah (4th from the left) and WITSA Deputy Chairman Robert Janssen (3rd from the left) with ASSESPRO RJ Members and WITSA CEO Dato’ Dan E Khoo (far right) at the WITSA World Cup Pool Draw, after Day 1 of the AI Summit 2024 in Rio on March 13.

Rio de Janeiro, Brazil: The World Innovation, Technology and Services Alliance (WITSA) proudly announced the Tournament Pools for the highly anticipated WITSA World Cup Tournament, poised to elevate the global tech landscape. This is the inaugural WITSA World Cup which is a unique tournament that transforms from a National to Global competition, starring the most promising tech scaleups from across 6 continents.

The journey to the WITSA World Cup Global Finals begins with National-level competitions with 16 WITSA Members showcasing their top two tech scaleups. The 32 national winners will then advance to the prestigious Global Finals, set to be hosted at the World Congress on Innovation and Technology (WCIT) 2024 in Yerevan, Armenia.

“At WITSA, we believe in fostering collaboration and innovation on a global scale,” said Dato’ Dr Sean Seah, Chairman of WITSA. “The WITSA World Cup serves as a catalyst for innovation, investment, and collaboration. It is a celebration of the best and brightest tech scaleups from around the world, with the potential to discover the next unicorn startup.”

The WITSA World Cup follows a pitching-style tournament, with national tournaments held by WITSA country members, advancing winners to compete for the prestigious WITSA World Cup title at the global finale at the 28th WCIT this October in Armenia.

The WITSA World Cup Tournament aims to foster global collaboration and networking among investors, government officials, industry leaders, and the most promising scaleups from WITSA members countries and economies. This collaboration has the potential to spur investments, create massive business deals, develop talent, generate new opportunities, and potentially unveil the world’s next unicorn.

“Partnering with the WITSA World Cup offers organizations a range of benefits, including attracting FDI, job creation, enhancing global recognition, showcasing thought leadership, and accessing a global network of collaborations,” according to Dato’ Dan E Khoo, CEO of WITSA. “It also provides a unique opportunity for the host city to shine in the spotlight of global attention.”

Meanwhile, participating scaleups can benefit from global exposure, funding opportunities, and access to decision-makers as this premier global tournament serves as a catalyst for innovation, investment, and collaboration, propelling the growth of the global tech ecosystem.

Key highlights of the WITSA World Cup Tournament include:

• Connecting Global Tech Leaders: Facilitating interactions between technology visionaries, investors, accelerators, and corporate users with leading tech scaleups across six continents.
• Providing Global Exposure: Offering a platform for participating scaleups to gain exposure and access international markets.
• Hosting a Pitching Style Tournament at the National Level: Elevating the nation’s top tech scaleups and funneling national winners into the WITSA World Cup global finale.
• Discovering the World’s Next Unicorn: Identifying and supporting pre-Series A and higher scaleups on the verge of growth acceleration, fundraising, and market expansion.
• Fostering Collaboration: Connecting investors, government leaders, and tech associations to promote global collaboration, networking, and support in the form of funding and prizes.

The WITSA World Cup Tournament will be a transformative international platform shaping the future of the global tech landscape! The inaugural WITSA World Cup Tournament is participated by teams from Argentina, Armenia, Australia, Bahrain, Brazil, Taiwan, Egypt, Greece, Jordan, Malaysia, Moldova, Myanmar, Nepal, Romania, South Africa and USA.

Below are the Tournament Pools for the WITSA World Cup Global Finals:

The random draw of participating countries  took place today at the AI Summit 2024 in Rio, that is organized by ASSESPRO RJ, with WITSA as its supporting partner.

For more information about the WITSA World Cup Tournament, please visit https://www.witsa.org/programs/witsa-world-cup.

 أعلن الصندوق الأردني للريادة  (ISSF) عن زيادة استثماره في صندوق بروبيلر الثاني، وهو صندوق استثماري متخصص في الاستثمار في قطاعات البرمجيات كخدمة (SaaS)، وبرمجيات الشركات وبنية السحابة. وباعتبار الصندوق الأردني للريادة (ISSF) ، مستثمراً رئيسياً في صندوق بروبيلر فقد قام بزيادة استثماره فيها من 3،500،000 دولار إلى 5،000،000 دولار.

لقد أثبت صندوق بروبيلر ريادته  في مجال الاستثمار التكنولوجي، حيث يستثمر في الشركات الناشئة مع التركيز على الابتكار وقابلية التوسع. كما لصندوق بروبيلر العديد من الاستثمارات في شركات أردنية مما يؤكد الدور الهام الذي يبذله في تعزيز روح ريادة الأعمال الأردنية وتحقيق النمو الاقتصادي .

علق المهندس محمد المحتسب، الرئيس التنفيذي للصندوق الأردني للريادة قائلاً: “زيادة استثمارنا في صندوق بروبيلر جاء بسبب استثماراته في الشركات الريادية في الأردن والتي تظهر جلياً من خلال اختياراتهم الموفقة  للشركات الحاصلة على الاستثمار بالاضافة  لدعمهم المستمر لتلك الشركات والقيمة المضافة التي يقدمونها لبيئة الريادة في الأردن ولشركاتهم من خلال التمويل وفتح الأسواق والدعم التقني والإداري. نحن فخورون بهذه الشراكة وبتجديد ثقتنا بهذا الفريق المميز.

من جانبه، قال الشريك الإداري في بروبيلر تامبي جلوقة: “يسعدنا مواصلة رحلتنا مع الصندوق الأردني للريادة. الفريق في الصندوق هم مستثمرونا الرئيسيون وأكبر داعمين لنا في بروبلر. نحن نؤمن بأننا معا يمكن أن نكون محفزين للبيئة التكنولوجية في الأردن”

The Innovative Startups and SMEs Fund (ISSF) has announced an increase in its commitment in Propeller’s second fund, Propeller Ventures II (PVII) a Jordanian venture capital fund specializing in SaaS, enterprise software, and cloud infrastructure sectors. ISSF, serving as the anchor limited partner (LP), has increased its investment from an initial $3,500,000 to $5,000,000..

Propeller has proven to be a pioneer in the field of tech investment, investing in promising startups with a focus on innovation and scalability. Through PVII, Propeller has invested in several Jordanian companies, a testament to their dedication to fostering local entrepreneurship and economic growth.

Speaking on the increased commitment, Mohammed Al Muhtaseb, CEO of ISSF, commented, “This is a testament to the success of Propeller thus far and to the positive role they are playing by investing in the Jordanian ecosystem, which is evident whether through their selection of portfolio companies or the ongoing support and value they add to them afterward. We are proud of this partnership and pleased to increase our commitment to this remarkable team..

Tambi Jalouqa, Managing Partner of  Propeller commented: “We are delighted to continue our journey with the ISSF. The team at ISSF are our anchor investors and biggest supporters.We believe that together we can be catalysts of the Jordanian technology scene for years to come”

About the Innovative Startups and SMEs Fund (ISSF):

The ISSF is a USD 98 million fund established in 2017 and registered in Jordan as a private shareholding company. The fund was established as a partnership between the Central Bank of Jordan with USD 48 million investment and USD 50 million from the World Bank. The ISSF is committed to facilitating funding for Jordanian early-stage startups and SMEs through investments in venture capital funds as well as direct investment in startups. The ISSF endeavors to foster a thriving and supportive entrepreneurial environment that enables promising local entrepreneurs to transform innovative projects into sustainable startups; generate jobs for Jordanian men and women; and prompt economic sectors that serve export markets by capitalizing on the creative and technical capabilities of entrepreneurs and management teams across Jordan.

About Propeller:

Propeller is a pre-seed & seed-stage venture capital firm headquartered in Jordan, specializing in investments within SaaS, enterprise software, and cloud infrastructure. Positioned as a tech-focused fund, Propeller targets exceptional technical founders building remarkable and scalable products from the MENA region. With a portfolio of 35 companies and a notable dragon exit, they are actively pursuing investment opportunities in Jordan and Saudi Arabia.

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