IGNITE Investment Readiness Advisory Services Program
The IGNITE Program aims to enhance the investment deal flow in the West Bank and Gaza by supporting innovative startups and SMEs that have high business and investment potential to develop business financing strategies and attract private investment. IGNITE will include both technical assistance and coaching as well as grant funding, delivered in two stages:
Stage 1: An Investment Readiness Advisory Service (IRAS) program that provides technical assistance to startups and SMEs through structured and one-to-one training and mentoring sessions focused on business financing and raising private investment.
Stage 2: A Pre-Investment Grants program will provide funding of up to US $50,000 for selected startups and SMEs to address shortcomings identified by the IRAS program with the aim of improving the likelihood that firms can subsequently secure investment within a short time frame (targeting 3–9 months). Initially, only firms participating in Stage 1, IRAS program, may qualify to receive Pre-Investment Grants, though participation does not guarantee a grant award.
IPSD welcomes Palestinian startups and SMEs that: (a) possess an innovation-driven business model; (b) are technology-enabled businesses; (c) have a technology-based product; and/or (d) have high growth potential – regardless of their sector – to apply for the IGNITE program.
The project targets firms with the following key characteristics: (a) high potential of capital-raising intent in the next 3-9 months; (b) regional scalability; and (c) high growth potential in terms of revenues, employees, product/market expansion and/or investment.
Each firm applying for the IGNITE program must meet the following eligibility criteria:
Be a company legally registered, and operating in the West Bank and Gaza; or in the process of legal registration; or committed to register with the Ministry of National Economy;
Be operational for at least 3 months prior to applying to the program;
Annual revenues for previous years shall not exceed US$ 5,000,000;
Proposed project’s environmental impacts are minimum or non-existent;
The IGNITE program will be delivered in cohorts, applications are now open for the first cohort with a closing date on 8 July 2021.