in ,

Cisco Invests $6M In Jordan Tech Venture Fund; Alan Chelko Comments

Cisco Invests $6M In Jordan Tech Venture Fund; Alan Chelko Comments - top government contractors - best government contracting event
https://executivebiz-media.s3.amazonaws.com/2022/08/19/30/9f/c3/a0/b7/6f/d4/64/Executive-Biz.png

Cisco-LogoEbizCisco has invested $6 million in a Jordan-based venture capital fund that backs entrepreneurs who are developing mobile, healthcare, digital media and e-commerce technologies.

The Badia Impact Fund was established to provide capital and networking support to Jordanian technology startups, Cisco said Thursday.

In May 2011, Cisco announced it would commit $10 million in funding for small business investment programs in the country.

Alan Chelko, Cisco’s manager for business development, said the investment aims to “help catalyse 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.”

Other fund sponsors includee Accelerator Technology Holdings, European Investment Bank and the King Abdullah Fund for Development.

Cisco says it has spent roughly $2 billion on equity investments in the U.S., Europe, China, India, Palestine and Israel to date.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Industry News

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

Ciber to Update Denver Public Schools' Business Info Systems - top government contractors - best government contracting event
Ciber to Update Denver Public Schools’ Business Info Systems
GE, Local Motors Team for 'FirstBuild' Innovation Model; Steve Liguori Comments - top government contractors - best government contracting event
GE, Local Motors Team for ‘FirstBuild’ Innovation Model; Steve Liguori Comments