The Jordan Payments and Clearing Company (JoPACC) celebrated the successful conclusion of the first incubation program of its JOIN Fincubator, which spanned over eight months, by graduating the first batch of innovative fintech startups in a prestigious event held at the Four Seasons Hotel Amman. The event was held under the patronage and presence of His Excellency, the Governor of the Central Bank of Jordan, Dr. Adel Al-Sharkas, and witnessed the attendance of bank CEOs, as well as representatives from fintech and banking sectors, investors, and business incubators and accelerators.
During the Demo Day, 11 fintech startups presented their Minimum Viable Products (MVPs), which were developed from initial ideas that the center incubated. The incubation program spanned over eight months and included over 100 training workshops by more than 35 experts in Fintech, Business, and Entrepreneurship. The training workshops were designed to equip the participants with the necessary skills and knowledge to develop and refine their MVPs and bring them to the market.
In line with its participatory approach, JoPACC has extended an invitation to all financial sector stakeholders aimed at enhancing support for startups and fostering partnerships with established financial institutions and investors. The participating startups span a diverse array of product categories, effectively addressing the multifaceted needs of the Fintech ecosystem. These encompass categories such as “Payment Instruments,” “Creditworthiness and Alternative Credit Rating,” “Financial Management,” “Lending and Financing,” “e-Commerce,” “Sharia-Compliant Investment Tools,” “Real Estate and Asset Management and Digital Contracts.”
Dr. Adel Al-Sharkas, in his speech, expressed his appreciation for the efforts of the three banks sponsoring JOIN, namely the Jordan Kuwait Bank, the Housing Bank for Trade and Finance, and the Jordan Islamic Bank. Additionally, Dr. Al-Sharkas acknowledged the valuable partnership with the German Development Cooperation (GIZ) that sponsors programs pertaining to financing MSMEs.
As part of JoPACC’s ongoing commitment to fostering innovation, Her Excellency, Ms. Maha Bahou, CEO of JoPACC, has announced the opening of registrations for the second cycle of the incubation program, calling on all those with innovative ideas related to Fintech to apply for the program.
JOIN Fincubator, established by JoPACC in collaboration with the Central Bank of Jordan, works in a participatory and non-competitive approach with all financial institutions, business incubators, and accelerators in Jordan. It is noteworthy that JOIN Fincubator offers all of its services completely free of charge for fintech entrepreneurs in Jordan. The center’s mission is to support and empower fintech innovations in line with the Economic Modernization Vision for 2023-2025.
Click here to apply for JOIN’S Incubation Program
