Cisco today announced a $6 million investment in the Badia Impact Fund – a venture capital fund dedicated to investment in early-stage start-ups in the technology sector in Jordan – to support early stage online and mobile innovation, healthcare technologies and services, e-commerce, consumer Internet and digital media services in Jordan.
This funding represents the first allocation from the 10 million-dollar venture capital investment commitment – to seed a sustainable model of job-creation and economic development in Jordan – initially outlined by Cisco in May 2011, targeted at small businesses that provide innovative products, services and solutions. Cisco’s contribution is part of an overall funding contribution to the Badia Impact Fund jointly funded by Cisco, as an anchor investor, along with the European Investment Bank (EIB), the King Abdullah Fund for Development (KAFD), and the fund sponsor, Silicon Badia’s parent company Accelerator Technology Holdings (ATH).
“Investing in an established and geographically focused venture team like Accelerator Technology Holdings complements Cisco’s global investment portfolio by providing Cisco visibility to the emerging Jordanian innovation ecosystem. This investment in the Badia Impact Fund will help catalyze and accelerate tech innovation in Jordan and take technology investment in Jordan to the next level by addressing a key funding gap for early stage Jordanian tech companies,” said Alan Chelko, business development manager at Cisco in a statement.
App analytics and market data company, App Annie, have released a new report that sheds light on Gen Z’s mobile behavior, in order to help marketers develop effective strategies to reach them. 98% of Gen Z report owning a smartphone, on average receiving their first at the age of 10. They are also part of […]
Experticity, the world’s largest community of influential category experts have released a new study that sheds new light on the importance of micro-influencers on the average consumer. The study was conducted with online interviews of more than 6,000 individuals from the United States drawn from Experticity’s micro-influencer network and the general population. In addition, more […]
Market research companies eMarketer and Global Web Index have collaborated together to release the 10th edition of the global media intelligence report. The report is a detailed compilation of data and insights about internet users’ traditional and digital media usage in 42 key markets worldwide. Communicate will be highlighting the key trends that are shaping the […]
Social Bakers, a global AI-powered social media marketing company has released the Q3 edition of their social media trends report. The report reveals where the industry is currently standing with regard to spending and engagement globally. Here are the key findings – ADVERTISING Worldwide ad spend increased by 56.4% in Q3 compared to where it […]