• Iraq Venture Partners announced that it has received funding worth EUR 2.6M from the Netherlands to support the second phase of the Orange Corners Innovation Fund.
• This funding aims to strengthen the capabilities of Iraqi entrepreneurs by providing technical expertise, expanding their networks locally and internationally.

The Kingdom of the Netherlands has signed an agreement with Iraq Venture Partners (IVP) to launch the second phase of the Orange Corners Innovation Fund (OCIF) in Baghdad. The 2.6-million-euro fund which includes a 400,000-euro co-funding from IVP, will provide technical expertise, access to networks, and direct financial support to young entrepreneurs.

This investment aims to empower Iraqi entrepreneurs. Briefly, it provides them with technical expertise, expanding their local and international networks, and offering direct financial support to strengthen the entrepreneurial ecosystem in Iraq.

A Key Step for the Iraqi Economy

The second phase of the fund was officially launched at a signing ceremony held at the Dutch Embassy in Baghdad. The event was attended by representatives from the Dutch government, Iraq Venture Partners, and several organizations committed to supporting small and medium-sized enterprises (SMEs).

This funding marks a significant milestone in Iraq’s economic development, fostering innovation and enhancing the competitiveness of entrepreneurs. It also underscores the Dutch government’s commitment to advancing entrepreneurship in the region. Most importantly, its commitments to expanding cooperation between the Netherlands and Iraq in the field of innovation.

Thriving Entrepreneurship in Iraq

The entrepreneurial landscape in Iraq has been seeing notable growth in recent months, with several high-profile acquisitions and funding deals. Recently, a major telecommunications company acquired the Iraqi educational tech platform, Eduba, for an undisclosed seven-figure sum.

Additionally, last month, QiCard announced the acquisition of the Iraqi e-commerce platform, “Miswak,” in a seven-figure deal. Miswak will soon be integrated as a mini-app within the SuperQi platform, enabling it to reach a broader customer base.

This funding and surrounding developments signify a new era of growth and innovation for Iraq’s entrepreneurial sector. Laying ahead awaits the challenge of keeping this momentum going and continue attracting significant investors.