Amman. Feb 9, 2021. Endeavor Jordan has announced today the selection of 15 High-Potential Growth Companies (HPGCs) to join the first cohort of SURGE - Scale-up Roadmap for Growing Enterprises, a three-year program co-funded by the European Union’s “Innovation for Enterprise Growth and Jobs” program “Innovate Jordan”. The selection came after a rigorous multi-step selection process, ending with a virtual pitch event to panelists representing all implementing partners.
The selected HPGCs will benefit from a wide range of custom-tailored services aimed at improving core business functions, and enhancing access to finance and markets. This support will follow a 9–12-month roadmap uniquely devised for each HPGC based on their imminent needs to support their growth and market expansion efforts. The services will tackle a variety of business challenges, and will include mentorship, one-on-one coaching, training, advisory and in-house consulting delivered by seasoned local and international subject matter experts. This support will be extended to the founder(s) and the core management team of each HPGC so as to maximize growth potential. Additionally, and by leveraging Endeavor’s global network, SURGE will support the entrepreneurs’ efforts towards achieving their goals of market expansion and access to capital.
SURGE mandates that HPGCs are selected from wide-ranging sectors. Also, 10-20% need to have operations outside Amman, and 20% should be women-owned or focused on creating women- friendly jobs.
This cohort has companies spanning across 6 sectors including: Agriculture, Commerce: Retail & Consumer Tech, Education, Enterprise Software & Services, Fintech, and Healthcare. As for geographical presence, 10% of the selected companies have operations outside the capital Amman, specifically in Irbid and Jerash. Moreover, 40% of HPGCs in this cohort are either women-owned, or are focused on creating women-friendly jobs, significantly surpassing the 20% requirement.
The selected companies are: Medmac, Sager, Aumet, Repzo, Tamatem Games, CertaCure, Maqsam, Little Thinking Minds, Amina’s Natural Skincare, Whyise, Eon Dental, Qistas, Jobedu, POSRocket, and Yousef Afandi.
SURGE, which is implemented by a consortium led by Endeavor Jordan (not for profit) and includes Oasis500 and BeyondCapital, aims to foster the demand-driven growth and scaling of 45 HPGCs, 15 companies per year, throughout the three years. It will focus on strengthening their core business functions, and assisting them to identify and seize new market opportunities.
About Innovate Jordan programme
The 'Innovation for Enterprise Growth & Jobs' (Innovate Jordan) is a EUR 20 million programme, funded by the European Union in Jordan. The programme’s overall objective is to support private sector-led innovation that could drive inclusive economic development and promote systematic change in the local enterprise and innovation ecosystem in Jordan.
The Programme will be implemented until 2024, through three grants. The First Grant action, ‘Scale-Up Roadmap for Growing Enterprises’ (SURGE), is implemented by a consortium led by Endeavor Jordan in partnership with BeyondCapital and Oasis500. The Second Grant action, ‘Jordan Industry 4.0 & Digitalization Innovation Centre’, (InJo4.0) is implemented by a consortium led by SAM Engineering & Trade Co. in partnership with Amman Chamber of Industry, IBTECAR, Transition Technologies - Advanced Solutions and Tum Tech. The Third Grant action, “Innovation Space,” is implemented by Orange Jordan.
Endeavor is leading the global high-impact entrepreneurship movement to catalyze long-term economic growth. Since 1997, Endeavor has been selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. Through the guidance that Endeavor offers, entrepreneurs can tangibly impact their communities, generate new job opportunities, bolster their countries’ national wealth, inspire others to innovate, and contribute to private sector development.
Endeavor launched its operations in Jordan in 2009, and is leading the way in supporting high-impact entrepreneurship. Today, Endeavor Jordan supports 43 Endeavor Entrepreneurs, representing 28 companies, from varying industries.