Jordan Media Institute - Amman
In a meeting with students at the Jordan Media Institute (JMI), the Executive Director of Venture X, the Integrated Company for the Development of Entrepreneurial Projects, Youssef Hamid al-Din, called for creative energies in the field of media to look towards JMI, within a framework of support for creative thinking through the platform Ibda’, which was launched recently under the umbrella of the Ministry of Culture.
Hamid al-Din, who is a specialist in business accelerators and creative affairs, encouraged young entrepreneurs who wanted to invest in their innovative ideas to break through “the barrier of fear” and to work to make their vision a reality. He said they should build effective partnerships in the labor market in order to connect them to the global digital media content industry.
Hamid al-Din said that the numerous challenges confronting entrepreneurial ideas create a need for incubators that invest in their capacity. For this reason, Ibda’ and Venture X will work with JMI to build a platform for launching innovative media projects. He emphasized that investment in media in all its forms is one of the most important strategic opportunities available. He added that Jordan has the capacity and ability to manufacture high-quality media content, and called for investment in digital media and production companies.
In the same context, Hamid al-Din answered questions from students about ensuring the sustainability of these businesses, and safeguards against potential legal and financial troubles if they did not succeed. He clarified that participants in the Ibda’ initiative would form limited liability companies (LLCs) that would invest in subsidized capital and take advantage of profits to maintain their productivity and develop opportunities for investment. He added that business accelerators and investment in innovation cannot succeed without active and efficient management to protect against financial losses.
Hamid al-Din stressed that if the innovator was able to convince the public of the quality of his product, they will immediately attract investment from relatively wealthy investors, opening new prospects for development and success. He pointed out that many ideas started small, but became some of the largest influences on the global economy.
JMI has signed a memorandum of understanding with Venture X, aimed at supporting Jordan’s unique talents in the field of new media by empowering entrepreneurs to develop their storytelling skills and promote their innovative ideas. This assistance will be provided in the form of training and access to media production tools the create space for innovation to secure the goals of entrepreneurial accelerators in the areas of development, employment, and reaching wider segments of society.