The Kingdom of the Netherlands signed an agreement with Iraq Venture Partners (IVP) to launch the Second Phase of the Orange Corners Innovation Fund (OCIF) in Baghdad at a ceremony that was attended by Hans Sandee, Charge d ’Affairs of the Embassy of the Kingdom of Nederland to Iraq, Mike Sips OCIF Advisor at the Netherlands Enterprise Agency, Bassam Falah, General Partner at IVP, IVP fund management team, in addition to Mujahed Waisi, CEO of KAPITA.
The signing marks the launch of the second phase of OCIF Baghdad, a 2.6 million euro fund that will provide technical expertise, access to networks, and direct financial support to young entrepreneurs. The second phase of OCIF Baghdad will be implemented by IVP and is funded by the Kingdom of the Netherlands.
Charge d ’Affairs Hans Sandee congratulated IVP and supported the collaboration. He highlighted that the second phase of OCIF will build on the success of the Orange Corners Program managed by KAPITA and conveyed the support of the Kingdom of the Netherlands to strengthen local partners to enable an entrepreneurial ecosystem, where ideas turn into impact.
OCIF Advisor Mike Sips added: “In 2019, we embarked on the journey to launch the Orange Corners Incubation Programme, and later the Orange Corners Innovation Fund. It is due to the hard work of our local partners and the impressive achievements, that we are able to continue this work during the second phase of the fund”.
In his turn, General Partner at IVP Bassam Falah added “We continue to be strong believers in the potentials of Iraqi entrepreneurs, and this new partnership with the Kingdom of the Netherlands to manage the Orange Corners Innovation Fund demonstrates our commitment to IVP’s mission statement which is to mobilize investments and drive deal flow within the Iraqi startup ecosystem”.
The CEO of KAPITA, Mujahed Waisi, mentioned, “The Dutch government’s support through Orange Corners and the Orange Corners Innovation Fund (OCIF) has been a cornerstone in developing Iraq’s entrepreneurial ecosystem. We at KAPITA, as the implementers of Orange Corners Baghdad and OCIF Phase One, are committed to collaborating effectively with IVP. Leveraging our experience and the Iraqi Angel Investors Network, we aim to facilitate investments and drive meaningful support for Iraqi startups, ensuring their continued growth and success.”
Support to young entrepreneurs
The Orange Corners Programme offers workshops, one-on-one coaching sessions and finance access to Baghdad entrepreneurs. After completing the six-month incubation programme with KAPITA, incubates will be selected to receive additional financial assistance from IVP through the second phase of OCIF.
OCIF is more than just a fund. It is a catalyst for innovation and bridges the critical “pioneer gap” many startups face. It provides essential support in the earliest stages when ideas are fragile, when prototypes are still dreams on paper, and when access to finance seems like a distant goal.
