Endeavor Jordan has announced the beginning of the application process for Scale-Up Roadmap for Growing Enterprises (SURGE). For those unfamiliar with it, SURGE is a three-year program co-funded by the European Union’s Innovate Jordan program that focuses on encouraging growth and job opportunities through innovation.
The final date for submission of applications is Jan 10, 2021.
The grant amount allocated as part of SURGE is a whopping €5M+, which basically covers 90% of the total budget.
SURGE will be spearheaded by Endeavor Jordan (not for profit), with contributions coming from Oasis 500 and Beyond Capital. The primary objective of the program is to scale 45 High-Potential Growth Companies (HPGCs) at a rate of 15 companies per year. The shortlisted businesses will stand a chance to leverage the program to strengthen their core business functions while simultaneously spotting and grabbing new opportunities.
To be eligible for the program, the applicants must be visionary and inspirational for the communities with high ethical standing. They should be in the post-ideation stage with less than 100 employees and a minimum viable product (MVP). The other important criteria are that the applicant must be either tech or tech-enabled platform with more than $100k turnover per year.
“The program could not have come at a better time for our companies because while many have been impacted negatively this year because of COVID, a good number were actually able to turn this crisis into a once-in-a-lifetime opportunity and witness favorable growth levels. Through this program, we want to support firms to become more resilient, and at their core, able to take growth to the next level” said Reem Goussous, Managing Director of Endeavor Jordan.