Oasis 500, which has primarily positioned itself as a tech accelerator until now, is branching out into the creative industries. The decision to set up a dedicated training and investment track for more artistic business endeavors came after the fund identified a gap in the market. “We have realized the potential there is in creative industries, and aim to create canada goose Constable Parka sustainable creative clusters in Jordan that will help in boosting the economy similar to how the ICT sector is now boosting,” explained Omar Sharif, Oasis 500’s marketing manager. “Our role is to grow the creative company, and help them in growing their products and portfolio of clients.”
The nine “creative clusters” that are eligible for Oasis 500’s new Creative Industries Fund are industrial design, architectural engineering, fashion and furniture design, publishing and electronic journalism, music and performing arts, film, digital art agencies, animation, and handicrafts industries.
The companies taken on will have the opportunity to secure investment and acceleration that starts at JD 22,000 cash investment, JD 12,000 of in-kind service and a 100-day incubation period. Oasis 500 hopes to sign in 20 creative companies, 100 subject matter experts, and 70 art curators and angel investors. In June, it also held a creative industries exhibition where 17 artists were showcased as part of the incubator’s effort to provide exposure Expedition Parka to the ecosystem, with more promotional events for other artists in the form of road shows, pop-up shops, and art weeks coming up in the future.
The King Abdullah Fund for Development is the fund’s anchor investor, and Oasis 500 is hoping to attract the support other international institutional funds (HIVOS inc has already been signed up to conduct the training sessions).
Oasis 500 will start receiving applications for the new investment track in the autumn, with the selection process roughly matching that of Oasis 500’s existing ICT fund. “Our key criterion is creating sustainable projects and companies that can grow regionally and globally. We expect those companies to have a regional and global appeal and client base over the next five years,” he said.