Amman, September 2011 – The UK is partnering with Oasis500 to assist entrepreneurs throughout Jordan in setting up their own projects within the ICT, mobile and digital media fields by sponsoring six training waves. The British Embassy in Jordan will support both idea-stage entrepreneurs and established startups participating in the upcoming 8th through 13th wave of Oasis500’s Training Boot Camp. The British Embassy will be sponsoring three waves scheduled to take place in Amman, as well as an additional three to be held in Irbid, Oasis500’s inaugural waves outside of the capital.

British Ambassador Peter Millett recently signed the agreement with Dr. Usama Fayyad, Executive Chairman of Oasis500 - the MENA region’s premier early-stage and seed investment company.

Upon signing the agreement, the British Ambassador took part in a roundtable discussion with a group of entrepreneurs from Oasis500’s incubated companies. The Ambassador Peter Millett said: “I have been impressed by Oasis500’s efforts to support startups and help new ideas grow into new jobs for Jordanians. The British Embassy is excited by the potential for further growth and delighted to be helping by supporting training waves in both Amman and Irbid as part of the UK’s Arab Partnership Programme.

The Arab Partnership Program Fund is the UK’s initiative to strengthen support to those in the countries of the Middle East and North Africa seeking more open and plural societies. Partnership – is the key principle of this approach. One of the AP Program main objectives is to support local partners in innovative and high-impact projects that widen opportunities for youth employability.

Commenting on the occasion, Dr. Usama Fayyad, Executive Chairman of Oasis500 and former Executive Vice President of Yahoo! Inc., expressed his gratitude to the British Ambassador on behalf of Oasis500, saying, “We are proud to host H.E. Ambassador Peter Millett and the British Embassy team in our accelerator facility. Their interaction with our startups represents a unique opportunity for them to understand, first-hand, the potential for cooperation between our startups and companies in the United Kingdom. ”

Dr. Fayyad added, “We are deeply grateful for the support of the British government for the training of entrepreneurs and helping to stimulate the entrepreneurial ecosystem. This partnership provides training and guidance to over 200 participants throughout the governance and allows Oasis500 to expand its reach to those outside of Amman, providing opportunity for innovation and creativity throughout the Kingdom. Our previous six training waves have led to the establishment of more than 24 new startup companies which have successfully managed to raise their initial valuation by three to eight times in only three months. During these next six waves of the Oasis500 Boot Camp, we are committed to providing entrepreneurs throughout Jordan with high-level training and mentorship, enabling them to market their ideas and attract potential investors, thus achieving their goals.”

Oasis500 is the first development and investment company of its kind in the MENA region. On the way to its goal of investing in 500 companies in 5 years, it aims to support entrepreneurs by providing them with training, funding, and a mentorship network in an effort to accelerate the transformation of their business ideas into startup companies in Information and Communications Technology (ICT), mobile and digital media.