The Innovative Startups and SMEs Fund (ISSF) - the largest investment fund of its kind in Jordan - has announced a direct investment of USD 150,000 in Silkroad Images; a UAE-based provider of exclusive stock photography images and digital content such as vectors, footage and editorials. Divided into multiple unique categories, the materials are sourced from professional photographers and content developers from across the region.
“In the wake of the coronavirus pandemic, we have been placing added emphasis on direct investments in order to allow pioneering companies to not only survive, but also thrive. Through this investment, the ISSF is accelerating the growth of 'Silkroad Images' and actively empowering the company to reach its full technical and operational potentials, thus positively impacting the local economy, achieving national progress and positioning Jordan as a prime tech and entrepreneurial hub,” commented ISSF CEO, Laith Al Qasem.
In turn, Founder and CEO of Silkroad Images, Riham Mahafza, elaborated, “The COVID-19 pandemic has taken a massive toll on numerous industries, forcing companies - especially startups and SMEs - to downsize drastically or shut down altogether, and our industry was no exception. Securing investment from the ISSF, combined with an internal funding round, will enable us to expand our digital library with authentic and intuitive content, grow our team, outreach new audiences and develop our operations, consequently bridging our expansion into untapped high-potential markets in the near future.”
The ISSF is registered as a Jordanian private shareholding company. The objective of the ISSF is to support and elevate Jordan’s entrepreneurial and innovation landscape by facilitating the establishment of new investment funds that serve the ecosystem; making direct investments in innovative, export-oriented and scalable local startups; as well as implementing initiatives that improve the capabilities of Jordanian entrepreneurs and startup teams through training, capacity building and targeted incubation and acceleration programs.
