A landmark initiative to bolster the Iraqi startup ecosystem has reached a successful conclusion, delivering significant economic results for the country’s tech sector. Iraq Venture Partners, in collaboration with the International Finance Corporation (IFC) and supported by the Kingdom of the Netherlands, has officially completed the “Scale Iraq” program. The initiative, which provided hands-on training and investment readiness support to over 30 startups, was celebrated in Baghdad by founders, investors, and ecosystem partners who gathered to review the tangible economic outcomes generated by the cohort.
Driving Capital And Revenue Growth
The primary objective of the Scale Iraq program was to bridge the gap between early-stage ventures and institutional capital. The results highlight a maturing investment landscape in the country, with graduating founders successfully mobilizing up to $7 million in new capital. This influx of funding is critical for reducing investment risk and encouraging further participation from regional and international investors. Beyond fundraising, the participating companies demonstrated robust operational performance, generating an estimated $100 million in combined revenue, signaling a shift from experimental startups to sustainable, revenue-generating businesses.
Creating Jobs And Empowering Women
Beyond financial metrics, the program delivered a substantial socio-economic impact through job creation. The initiative facilitated the creation of over 450 jobs through annual employment contracts, directly contributing to the local economy. A significant portion of these opportunities focused on inclusivity and youth empowerment, with more than 200 women hired and over 400 full-time roles filled by individuals under the age of 30. These figures underscore the vital role that the startup sector plays in addressing youth unemployment and fostering gender diversity in Iraq’s private sector.
Building A Resilient Ecosystem
The success of the cohort is attributed to the rigorous, hands-on training provided throughout the program. Startups received specialized guidance in critical operational areas including legal structuring, technology infrastructure, financial governance, strategy, and fundraising. By strengthening these foundational pillars, the program has equipped founders with the tools to scale operations effectively and navigate the complexities of due diligence. The completion of Scale Iraq marks a pivotal moment for the local ecosystem, establishing a pipeline of investment-ready ventures prepared to expand their reach across the MENA region.
About Iraq Venture Partners
Iraq Venture Partners (IVP) is the first Baghdad-based early-stage Venture Capital firm dedicated to providing smart capital to exceptional Iraqi ventures. Founded in 2021, IVP invests in high-potential startups and provides them with the strategic support needed to scale. The firm acts as a bridge between local talent and regional markets, aiming to de-risk investments in Iraq while fostering a vibrant and sustainable innovation economy.
Source: Iraq Venture Partners
