Nawat: Pioneering Iraq’s Startup Landscape

Introduction to Nawat

In a groundbreaking development for Iraq’s entrepreneurial scene, Netaj, a prominent platform for innovation and entrepreneurship, has proudly launched Nawat, the nation’s first-ever Venture Capital (VC) Studio. This initiative signifies a pivotal moment in the evolving ecosystem for startups in Iraq, aimed at nurturing and propelling local innovations.

What Nawat Offers

Nawat is meticulously crafted to ignite and sustain the growth of high-potential startups in Iraq. It provides a comprehensive six-month program that focuses on essential aspects such as mentorship, product development, market access, and preparing startups for funding. This journey is tailored to each startup’s unique needs, ensuring they receive targeted support to navigate the complex startup landscape.

Bridging Gaps in Entrepreneurship

Wissam Mattout, the CEO of Netaj, emphasized the transformative vision behind Nawat: “Nawat is a movement to reimagine how startups are built and backed in Iraq.” He highlighted the importance of closing the gap between raw entrepreneurial talent and available capital, stating that Nawat serves as a launchpad for founders aiming to scale both locally and globally. Historically, Iraqi entrepreneurs have faced challenges in building viable businesses due to a lack of resources; Nawat aims to change this narrative.

The Studio Model: A Tailored Approach

The traditional accelerator model often adopts a one-size-fits-all approach, which may not cater to the distinct needs of every startup. In contrast, the VC Studio model employed by Nawat offers a co-building strategy, allowing Netaj to collaborate closely with founders. This engagement ranges from validating ideas to achieving product-market fit and securing investment.

Engaging Startups Across Three Stages

Nawat will accept 40 startups, categorized into three distinct tracks:

• Ideation Stage: For startups still in the conceptual phase.
• MVP/Prototype Stage: Targeting those with a minimum viable product or prototype.
• Early-Established Startups: For businesses with some operational history looking to scale.

Each selected startup will benefit from personalized support, which includes expert-led boot camps, one-on-one consultations, and mentorship from industry leaders. Founders will also gain invaluable exposure to investors through events like demo days, designed to facilitate curated matchmaking.

Mattout remarked, “This is Iraq’s moment. If we want to build serious startups, we need serious infrastructure. Nawat is the missing puzzle piece — designed for founders, by founders.”

Investment Structure of Nawat

One of Nawat’s distinguishing features is its hybrid investment model, combining both in-kind support and direct financial investment. The breakdown includes:

• In-Kind Investment: Valued between $10,000 and $25,000, this support focuses on crucial elements like product development, branding, and digital tools.
• Direct Financial Investment: Ranging from $25,000 to $250,000, these investments will be facilitated through convertible notes or equity arrangements.

Netaj aims to select the top 5 to 10 startups that demonstrate clear traction, scalability, and a commitment from their founders to drive operational growth.

A Transformative Landscape for Iraqi Startups

Located in Baghdad’s vibrant Jadriyah district, Netaj has established itself as a crucial hub for entrepreneurial activity in Iraq. With the launch of Nawat, there is a renewed focus on supporting founders who are not only innovative but also market-ready and poised for both regional and global opportunities.

This initiative comes at a critical juncture for the Iraqi private sector, which is in desperate need of innovation-driven solutions, particularly those spearheaded by the youth. Nawat seeks to cultivate a new wave of startups that can contribute effectively to the economic landscape of Iraq.

About Netaj

Netaj is a Baghdad-based innovation firm dedicated to providing venture support, strategic consulting, and capability-building for aspiring entrepreneurs and institutions. Its mission centers around fostering a vibrant entrepreneurial ecosystem in Iraq through hands-on programs, access to capital, and cultivating long-term partnerships.

For inquiries and additional information, please reach out to:

• Email: media@netaj.biz
• Website: www.netaj.iq
• Instagram: @netaj.iraq
• LinkedIn: Netaj

By launching Nawat, Netaj is not only advancing the startup narrative within Iraq but is also setting the stage for a more fortified and innovative future for aspiring entrepreneurs.