Oasis500 Introduces Incubated Startups to Its Exclusive Network of MentorsJune 20, 2012
Amman, May 2012 – In line with its ongoing efforts to support promising startups, Oasis500, the MENA region’s premier early stage and seed investment company, organized on Sunday 6th May, 2012, its Mentor Network Event, held at the Company’s headquarters. The Event showcased the 12 startups that Oasis500 has chosen to invest in and aimed to provide these companies with the opportunity to meet with experienced and accomplished professionals from the Oasis500 Mentor Network. 80 CEOs, entrepreneurs, investors and subject matter experts attended the meeting.
The Oasis500 Mentor Network, led by Dr. Usama Fayyad, Executive Chairman of Oasis500 and former Executive Vice President and Chief Data Officer of Yahoo! Inc., comprises a select group of prestigious businessmen who have volunteered to participate in this initiative.
During the Mentor Network Event, entrepreneurs presented their business ideas and interacted with participating mentors and other participants through 3-minute pitches. During each pitch, the startups discussed their own business ideas and proposed areas where they require guidance and mentorship.
“Obtaining sound mentorship when starting any project can be a deciding factor in ensuring optimal results. It is exciting to witness such an overwhelming turnout of mentors who are interested in providing guidance to startup companies through the Oasis500 Mentor Network. We are confident that the personal experiences and the extensive expertise of Oasis500 mentors will help successfully transform the goals and aspirations of the incubated startups into realities,” commented Dr. Fayyad. “In addition to incubating the selected companies, Oasis500 will also provide the entrepreneurs with a once-in-a-lifetime chance to receive intensive mentorship for a period of six to eight months,” he added.
The 12 startups selected by Oasis500, which also interacted with the attendees via designated booths, included Feesheh.com, the first online music store in the Middle East offering enthusiasts a wide range of music instruments at competitive prices; iTabeeb, an online platform that allows patients to book appointments, search for doctors and read reviews on clinics; and Doseyeh, an academic social network targeting both undergraduate students and lecturers using a central cloud-based network.
Featured startups also included ShopGo, an e-commerce platform developed to establish e-stores in the MENA region; I3zif, an online music center that teaches users how to play musical instruments via pre‐recorded video lessons; Smart Order, an online platform that allows users to order meals from different restaurants across Amman using portable user-friendly tablets; GatExpress, an online remittances platform that serves exchange firms and banks through a secure and multi-currency software; and Abjjad.com, a social network for book enthusiasts that allows avid readers to create reading lists and share book reviews and recommendations with friends.
Also presenting their business ideas at the Oasis500 Mentor Network Event were Tawajod, an online social network for stock market traders and analysts in the Middle East; HealingLand, an Arabic portal that provides medical information and services to patients and medical tourists; Koala, which delivers cloud-based business solutions and applications for the pharmaceuticals industry; and Aleef Express, an online pet store that offer pet-related services and sell pet-related goods.
Oasis500 is the first development and investment company of its kind in the MENA region. It aims to support entrepreneurs by providing them with funding and training in an effort to accelerate the transformation of business ideas into startup companies in the ICT, digital media, and mobile technologies and content sectors. Oasis500 aims at accelerating the launch of 500 startup companies within the next five years, which will create an incentive for aspiring entrepreneurs and generate job opportunities within the world’s fastest growing sectors. Since commencing its operations in September 2010, Oasis500 has successfully secured investments for 49 technology companies, in addition to a number of other investments that were unmatched by any investment fund in the region.