The Aqaba Special Economic Zone Authority (ASEZA) has officially launched the Aqaba Entrepreneurship Network, a comprehensive ecosystem initiative designed to bolster innovation and support startups in the strategic coastal city. The network aims to create a cohesive environment for entrepreneurs, providing a clear path from the idea stage through to growth and expansion.
Quick Facts
- Launched in 2023 by the Aqaba Special Economic Zone Authority.
- A 32-member coalition of public, private, and civil society entities.
- Focuses on green and blue economies, logistics, and tourism sectors.
A Collaborative Push to Unify Aqaba’s Startup Scene
Established in 2023, the Aqaba Entrepreneurship Network was founded on a participatory model, bringing together 32 different organizations to streamline support for local entrepreneurs. The coalition includes nine government bodies, 13 private sector firms specializing in innovation, and ten civil society organizations.
“The Aqaba Entrepreneurship Network is an integrated entrepreneurial system aimed at fostering innovation and leadership,” said Rima Al-Tabaa, Director of Entrepreneurship and Innovation at ASEZA. She explained that the goal is to unify efforts, avoid duplication, and direct services based on the real needs of the local community and the startup sector.
The German Agency for International Cooperation (GIZ), through its “Entrepreneurship for Sustainable Economic Development and Employment” (E4DE) project, was a key partner in the network’s foundational phase. The project was instrumental in building a unified working framework and has provided technical, training, and financial support to over 400 entrepreneurs.
Tools for Growth: Ecosystem Map and Business Clinic
To simplify the entrepreneurial journey, the network has launched the “Ecosystem Map,” a strategic tool designed to guide founders to the right services at each stage of their venture. Whether they need training programs, technical support, or funding opportunities, the map acts as a central directory to improve access and reduce fragmentation.
In addition, ASEZA has independently launched the “Business Clinic,” a service offering direct advisory and technical support to entrepreneurs. Through specialized sessions, founders receive guidance on project development and strategic operational decisions, along with connections to relevant industry experts.
The network is also actively collaborating with Jordan’s Ministry of Digital Economy and Entrepreneurship to raise awareness about national support programs and connect startups with donor organizations offering technical and financial grants.
Unlocking Capital with a New Support Fund
A key component of the initiative is the Entrepreneurs Support Fund, launched in 2023 in partnership with the Development and Employment Fund and with backing from the Aqaba Governorate Council.
The fund provides accessible financing for early-stage projects, offering soft loans of up to 10,000 JOD. The loans feature a low profit rate of 2.5% and include a grace period of up to one year, aiming to stimulate new business creation and encourage youth participation in the market.
Targeting Strategic Sectors for High-Impact Growth
The network’s efforts are strategically focused on sectors vital to Aqaba’s economy. These include the green and blue economies, creative industries, logistics, tourism, and the industrial sector.
According to Al-Tabaa, these areas are fertile ground for innovative solutions that can enhance efficiency and competitiveness. The network is working to empower entrepreneurs to develop practical, market-ready solutions that add value to the local economy and create sustainable jobs, aligning with ASEZA’s 2024–2028 strategy to build a competitive, knowledge-based economy.
About The Aqaba Entrepreneurship Network
The Aqaba Entrepreneurship Network is an initiative led by the Aqaba Special Economic Zone Authority (ASEZA) in Jordan. It is a multi-stakeholder platform that brings together government, private sector, and civil society organizations to create a supportive and integrated ecosystem for entrepreneurs and innovators in Aqaba. The network provides access to training, mentorship, funding, and strategic guidance to help startups scale and succeed.
Source: Al Rai
