Five One Invest Launches Its First Annual “State of Investments in Iraq” Report
The flagship State of Investments in Iraq report aspires to foster an environment where promising startups can access the necessary funding to flourish, create new jobs, and contribute to Iraq’s prosperity.
Erbil, Iraq. July 7, 2024, Five One Invest, an initiative of Five One Labs, launches its first annual “State of Investments in Iraq” report to uncover bottlenecks and identify opportunities within Iraq’s investment landscape.
Over the past five years, Iraqi startup founders have faced many challenges, especially securing venture funding. Despite a supportive ecosystem comprising upskilling initiatives, bootcamps, incubator and accelerator programs, SME support endeavors, and a network of startup-focused co-working spaces, the journey for startups remains incomplete without adequate financial backing. While resources like small grants, typically capped at $25,000, are available from select humanitarian or development agencies, not all startups can access these funds, and those that do often find them insufficient for sustainable growth. Moreover, navigating approval processes for bank loans or overcoming barriers to accessing equity investments poses additional hurdles. As Executive Director Alice Bosley once explained, “On one hand, early-stage investors are facing a fragmented, inefficient market as they attempt to source deals, and on the other, entrepreneurs are finding it difficult to access investment capital as they look to scale.”
This inaugural State of Investments in Iraq report aims to further deepen and expand startup founders' and investors' perspectives, priorities, and concerns. Drawing on insights gathered from surveys of startup founders and various investor or founder roundtable discussions, this report assesses past efforts in facilitating startup growth through investment and proposes actionable solutions. The report will be updated annually to capture current perspectives, challenges, and opportunities for catalyzing startup investment in Iraq.
The research explores the current state of investment in Iraq and is informed by perspectives from investors and startups. This study gathered quantitative and qualitative data through surveys and roundtables with founders and investors to uncover widely held perceptions, existing challenges, and potential solutions to further strengthen Iraq’s investment ecosystem. This report intends to provide a snapshot of the current realities and potential opportunities understood by those directly supporting startups in Iraq. The research mainly assesses:
Key areas where startups struggle when accessing capital
Roles played by stakeholders to facilitate access to capital
Hindrances to local investor activity
Factors encouraging local investor activity
Factors encouraging regional co-investment activity
This project was led by key Five One Labs team members, including Alice Bosley, Co-Founder and Executive Director; Azza Yehia, Manager at Five One Invest; Melissa Graham, Global Development and Partnerships Manager; Miran Faeq Ahmed, International Senior Marketing Coordinator; and Hana Khalid, Creative and Design Officer.
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About Five One Invest
Five One Invest, an initiative of Five One Labs, creates more efficient deal-making and matchmaking opportunities for investors and increases entrepreneurs' access to capital as they scale throughout Iraq. Five One Invest has activated knowledge-sharing and learning programs to achieve our mission. We aim to put the Iraqi entrepreneurial ecosystem on the map as the MENA’s next big business hub.
Five One Labs Media Contact: melissa@fiveonelabs.org