Marking a significant expansion of its regional footprint, AB Xelerate, the venture capital arm of Arab Bank, has made its first direct entry into the Iraqi startup scene by hosting the ABX Bootcamp and Iraqi Startup Showcase in Baghdad. The two-day event brought together a select group of promising Iraqi founders, investors, and key ecosystem players to foster growth and innovation within the country’s emerging tech landscape.
Fostering Investment Readiness in Baghdad
The intensive bootcamp was designed to equip Iraqi entrepreneurs with critical skills for scaling their ventures. Hosted at the central startup hub, The Station, the program featured hands-on sessions focused on business growth strategies, investment readiness, and effective storytelling. Founders received mentorship from a curated group of regional and global experts in technology and venture building, including Aliya Nur Babul, Faisal Al Bitar, Mohamed El-Feky, Mohamed Abbas, and bootcamp facilitator Fawzi Rahal. The initiative was supported by key success partners, including Endeavor Jordan and Startup Grind Baghdad, underscoring a collaborative effort to bolster the local ecosystem.
Spotlight On Iraq’s Emerging Innovators
The showcase highlighted six Iraqi startups from diverse sectors, each demonstrating significant potential to disrupt their respective industries. The participating companies included:
- Orderii.co: An e-commerce and logistics platform enabling Iraqi consumers to shop from multiple US and Turkish websites and consolidate their purchases into a single, cost-effective shipment.
- Wayl: A fintech platform positioning itself as the “Stripe of Iraq,” empowering social media merchants to establish formal online businesses with integrated payment processing and order management tools.
- Toolmart Inc: A B2B digital procurement marketplace specializing in industrial products, connecting businesses with vendors, manufacturers, and financing solutions to streamline procurement.
- Saleem: A healthtech application revolutionizing home healthcare by providing on-demand services such as doctor and nurse visits, physiotherapy, lab tests, and telemedicine consultations.
- Corrsy: An edtech platform that delivers official government educational content through a mobile-first approach, leveraging Finnish education expertise to help students pass national exams.
- Dofied: A B2B fintech startup providing specialized payment, billing, and financial control solutions for industries such as pharmaceuticals and FMCG.
About AB Xelerate
A key pillar of Arab Bank’s digital innovation strategy, AB Xelerate was established in 2018 as a core unit within the bank’s Innovation Department. It invests globally in early-stage, technology-driven startups that have the potential to disrupt or expand the financial services industry. AB Xelerate leverages Arab Bank’s extensive customer base and network across the MENA region to integrate innovative financial solutions into its value chain, aiming to partner with startups that can enhance its business processes, customer relationships, and infrastructure.
Source: LinkedIn
