KAPITA has launched Iraq’s first Angel Investor Network (IAIN) that is dedicated to connecting startups with angel investors in order to develop the Iraqi entrepreneurship ecosystem. The network is sponsored by the German Government through GIZ (German Agency for International Cooperation).
KAPITA is a private sector development company that aims to empower small and medium-sized enterprises (SMEs) through investment, research, incubation/acceleration, and market development programs. It has recently announced the graduation of 20 startups from its Orange Corners Baghdad incubation prorgam in collaboration with the Dutch government and is currently accepting applications for the next edition of the program. KAPITA is also running an accelerator program in partnership with GIZ and AsiaCell that focuses on scaling and growing existing startups.
Iraqi Angel Investors Network is the first angel group in the country that comprises a group of distinguished Iraqi businessmen and entrepreneurs who are looking to support the entrepreneurship ecosystem in Iraq and revitalise the country’s private sector. The network is the first attempt at an institutionalized investment vehicle for Iraqi startups.
It helps founders access the knowledge, experience, and connections they require, along with funding to scale and grow their business. The network is also technically supported by the World Bank.
IAIN aims to play a key role in nurturing the ecosystem by:
- Building an institutionalised investing mindset.
- Unlocking the potential of investing in Iraqi start-ups.
- Acting as a unified front to support the ecosystem.
- Providing financial and operational support to start-ups.
Iraq is a country that does not suffer from a lack of capital, but struggles to focus on business. In other words, there is a lack of understanding of angel capital and its potential in the region. Startups in Iraq just don’t get enough interest or investment yet, so we’re excited to see the role that IAIN plays in providing a full cycle of entrepreneurship support from training to funding.