KAPITA is pleased to announce the graduation of eight businesses which were part of the ScaleUp Academyacceleration program. 

• Zuqaq13 - Streetwear brand
• Turquaz Group - Beauty, Cosmetics & Personal Care brand 
• Tabib Baghdad - Telehealth mobile application 
• Teami - Team management application
• Plant Touch - Garden architecture and design services
• 6262 - Data collection company
• Mr Book - Online book store
• Medical Gifts - Online gift shop  

Eight startups joined the program in February from varied backgrounds and managed to make it through the whole way despite the hurdles of 2020. We are very proud of each one of them and their achievements throughout the program and we cannot wait to see what they will accomplish in the future.

ScaleUp Academy was executed with the support of the German Government through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, “Information and  Communication Technology (ICT) for Youth in Iraq ” project. KAPITA’s CEO Mujahed Waisi, talked about the obstacles that encountered the entrepreneurs over the course of the program due to the pandemic. But he also flagged the role of KAPITA’s partnership with GIZ and our strategic partner Asiacell and how their extensive assistance has been facilitating the program and providing the startups with exceptional services and support over the past period.

The graduation hosted prestigious investors and spokespeople from Asiacell and GIZ, and brought entrepreneurs and small business owners together with investors and field experts to facilitate more connection within the startup community. The occasion offered entrepreneurs the chance to meet like-minded people to chat with and learn from and to even find new business opportunities or partnerships.

Jochen Zimmerman, Advisor for the ICT for Youth Project by GIZ in Iraq, ensured to participate in the graduation via a video to congratulate the businesses on their graduation. Jochen stated that “ScaleUp Academy is the first acceleration program in the country that is able to produce a pipeline of investment ready startups, who are eligible for early stage finance.”. He went on to mention the major hurdles that are faced by startups in Iraq, that include a lack of knowledge on topics such as access to finance, digital marketing and operational excellence, and how these act as barriers to acceleration and growth. However, programs like ScaleUp Academy are there to provide intensive training to put startups on the right track. 

Additionally, Jochen noted the significance of the recently launched Iraq Angel Investors Network (IAIN), which is also supported by the German Government through GIZ, and which will play a critical role in facilitating access to finance especially for seed ready startups in the Iraqi ecosystem. We are already seeing the impact of IAIN as two ScaleUp Academy graduates have applied for IAIN and KAPITA is looking to introduce more projects to the network. 

Aous Younis on behalf of Asiacell, expressed his satisfaction about the progress of ScaleUp Academy and being the first professional accelerator program in the country. He also admired the quality of the businesses part of the program.

KAPITA is thrilled by the successful graduation of the ScaleUp Academy alumni and wishes them all the best in their future endeavors.