Netaj Launches Iraq's First VC Studio to Support 40 Startups
Jun 23, 2025
Netaj's new venture studio in Baghdad aims to support early-stage Iraqi startups with funding and operational support. Main Body: Iraqi entrepreneurship platform Netaj has launched Nawat, a new venture capital studio based in Baghdad. The initiative will support 40 early-stage startups through a structured six-month programme focused on product development, operational growth, and access to funding.
Nawat targets startups across three categories—ideation, MVP, and early market fit. Selected ventures will receive in-kind support valued between $10,000 and $25,000, including branding and product development services. Financial investments between $25,000 and $250,000 will be provided through equity or convertible note agreements.
The programme includes startup bootcamps, tailored mentorship, and networking opportunities with investors. A final selection of five to ten high-performing startups will be eligible for follow-on investment and continued support after the programme ends.
The initiative is part of Netaj's broader efforts to strengthen the Iraq's entrepreneurial infrastructure and attract investment into high-potential local ventures.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
24-07-2025
- See - Sada Elbalad
Iraq Launches 'City of Gold' in Baghdad to Boost Non-Oil Economy and Jewelry Industry
Waleed Farouk In a move with significant economic and strategic implications, Iraq has officially launched the 'City of Gold' project in the capital, Baghdad — the country's first zone dedicated to the manufacturing and marketing of gold and jewelry. The initiative is part of a broader government plan to stimulate the non-oil industrial sector, create jobs, and elevate Iraq's regional standing in the gold jewelry market. An Integrated Hub for Gold Manufacturing According to Haider Makiya, Chairman of the National Investment Commission, the project falls under the state's economic diversification strategy, aiming to reduce reliance on oil revenues and stimulate national income. The city will be established on nearly 50,000 square meters in the Al-Nahda area of Baghdad and will feature workshops, factories, and refineries for gold processing, along with specialized training centers in jewelry design and craftsmanship, and commercial markets for both local and international gold products. Makiya explained that the project will be carried out as an investment venture in cooperation with the Trade Bank of Iraq (TBI), which will fund and support its execution phases. This will enable the participation of both local and international private sectors and attract global luxury brands to the Iraqi market. Reviving a Neglected Sector Iraq's gold sector suffers from a lack of supporting infrastructure and limited domestic manufacturing, resulting in a heavy reliance on imported finished gold — particularly from Turkey and the UAE. Project leaders hope that the City of Gold will reverse this trend and transform Iraq from an importer into a regional hub for production and export. Mohammed Naeem, Advisor to the Prime Minister on Investment Affairs, noted that the project goes beyond establishing a marketplace. It envisions a comprehensive ecosystem, including technical education and workforce development, by founding a vocational institute to train young people in gold craftsmanship, especially amid growing demand for skilled labor in the industry. Positive Market Reactions The project has been met with enthusiasm from economic circles, with experts saying it could represent a turning point if linked to broader reforms in the sector's legal and financial frameworks. Economist Nabil Al-Marsoumi commented that the City of Gold reflects "localization of a traditional industry with high added value" and could contribute to improving the balance of payments through future exports. Meanwhile, the Iraqi Goldsmiths Association has called for the inclusion of local artisans and traditional workshops in the design and operational phases to ensure skill transfer to younger generations and avoid monopolization by large companies. A Regional Outlook Iraq's City of Gold emerges at a time when the region is seeing intense competition in the jewelry industry, with established centers like Dubai, Riyadh, and Cairo. However, Iraq is banking on its rich heritage in precious metal craftsmanship and a vibrant domestic market to reposition itself as a key player in the field. Amid the many challenges facing Iraq's economy, the City of Gold presents a promising opportunity — not only to revive a long-neglected sector but also to reshape the country's image as a hub of innovation and manufacturing. If successful, the project could pave the way for a new 'Made in Iraq' label in the world of gold and jewelry in the coming years. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks
CairoScene
23-07-2025
- CairoScene
Egypt Ranked Top Exporter of Shisha Tobacco in 2024
Currently, Egypt captures 32% of global exports, with most exported maassel being put on the Iraqi market, which imported USD 32 million worth of shisha tobacco in the past year. Jul 23, 2025 n 2024, Egypt retained its position as the world's number one exporter of shisha tobacco, commonly known as maassel, with an export volume of 27,000 tonnes, which amounts to about USD 127.4 million. This represents a 15% increase in value from the previous year. Currently, Egypt captures 32% of global exports, with most exported maassel being put on the Iraqi market, which imported USD 32 million worth of shisha tobacco in the past year. Libya is the second biggest importer at USD 24 million, followed by Syria at USD 14 million and Saudi Arabia at USD 13 million.
Al-Ahram Weekly
18-07-2025
- Al-Ahram Weekly
Baghdad and Arbil agree to resume Kurdish oil exports: Government - Energy
The Iraqi government announced Thursday an agreement to resume crude exports from the autonomous Kurdistan region after a more than two-year halt and amid drone attacks on oil fields. Lucrative oil exports have been a major point of tension between Baghdad and Arbil, with a key pipeline through Turkey shut since 2023 over legal disputes and technical issues. The Kurdistan regional government shall "immediately begin delivering all oil produced" in the region's field to Baghdad's State Oil Marketing Organisation (SOMO) "for export", the Iraqi government said in a statement. The quantity should be no less than 230,000 barrels per day, and Baghdad will pay an advance of $16 a barrel. The Kurdistan regional government said in a statement it "welcomes" the deal, and hoped all agreements would be respected. Oil exports were previously independently sold by the Kurdistan region, without the approval or oversight of the central administration in Baghdad, through the port of Ceyhan in Turkey. But the region's official oil exports have been frozen since March 2023 when the arbitration tribunal of the International Chamber of Commerce in Paris ruled oil exports by the regional government illegal and said that Baghdad had the exclusive right to market all Iraqi oil. The decision halted the region's independent exports by pipeline via Turkey. Ever since, the federal and regional governments have been haggling over the production and transport costs payable to the region and its commercial partners among other financial issues. The latest agreement should also solve the long-standing issue of unpaid salaries for civil servants in Kurdistan, which has been tied to the tension over oil. The federal finance ministry will pay salaries for May once SOMO confirms it has received the oil at the Ceyhan port. The regional government said it hoped that the issue of salaries would be treated separately from any disputes. The deal comes after a tense few weeks in Kurdistan, which has seen a spate of unclaimed drone attacks mostly against oil fields, with the latest strike hitting a site operated by a Norwegian firm on Thursday morning -- the second attack in two days on the same site. There has been no claim of responsibility for any of the past week's attacks, and Baghdad has promised an investigation to identify the culprits. Follow us on: Facebook Instagram Whatsapp Short link:
