A Strategic Partnership Between the “Innovative Startups and SMEs Fund” and “STV” Opens New Investment Horizons in Jordan’s Artificial Intelligence Sector.

Amman, July 2026 — In step with the rapid transformations sweeping the global technology sector, driven by the remarkable surge in artificial intelligence applications, the Innovative Startups and SMEs Fund (ISSF) has entered a strategic partnership with the Saudi investment fund STV. The step aims to empower the ecosystem of startups specializing in AI technologies and to support their growth and expansion across the Middle East and the world — keeping pace with one of the fastest-growing sectors in the world.

This partnership gives entrepreneurs and startups in Jordan a major strategic advantage by drawing on the support and expertise of STV — one of the largest independent venture capital platforms in the region. Its new, Google-backed AI fund, with capital of USD 100 million, will focus its investment efforts entirely on generative and applied artificial intelligence, targeting companies that deliver innovative software and practical solutions serving institutions and sectors across the board.

Under the details of this partnership — whose agreement was signed last week in Amman — ISSF commits to a USD 5 million investment in STV’s AI fund, which has announced its own commitment to invest in Jordanian startups. This lays the foundation for a partnership that will establish an artificial intelligence corridor linking Jordan and Saudi Arabia, drawing on STV’s expertise in AI, its network of relationships, and its direct, hands-on support.

The investment agreement was signed on behalf of ISSF by its Chief Executive Officer, Mohammed Al Muhtaseb, and on behalf of the Saudi fund STV by its Founder and Chief Executive Officer, Abdulrahman Tarabzouni, in the presence of STV’s executive management and a select group of entrepreneurs and representatives of investment funds in Jordan’s entrepreneurship and technology sector.

This investment draws its strategic significance from being an extension of the historic economic ties between the Hashemite Kingdom of Jordan and the Kingdom of Saudi Arabia, establishing a new development path that supports the regional tech entrepreneurship ecosystem — particularly in the promising AI sector. The collaboration is driven by STV’s ambitious investment vision and its deep confidence in Jordanian talent and expertise, which has long been a cornerstone in strengthening the Arab technology sector both technically and in knowledge.

The announcement of this investment comes as the second within Fund II of ISSF’s activity, following the successful conclusion of the first phase, which ran through 2025 and earned the highest performance rating from the World Bank, the Fund’s principal contributor.

ISSF Chief Executive Officer Mohammed Al Muhtaseb affirmed that the Fund is stepping with confidence into the next phase of its work in Jordan, with its new investment and its partnership with one of the region’s most important venture capital funds — STV — particularly given its specialization in investing in emerging technologies and artificial intelligence, which are witnessing tremendous momentum around the world.

Al Muhtaseb said: "Amid the structural transformations underway in global venture capital markets, the Innovative Startups and SMEs Fund is keen to redefine its role as an engine for the innovation economy through high-value regional partnerships. Our partnership today with ‘STV’ — backed by Google — strengthens the integration of the business environment between Amman and Riyadh. This collaboration will contribute directly to localizing AI technology and represents real added value for our entrepreneurial ecosystem, giving our promising companies access to an international network of relationships and advanced incubators that propel them toward new horizons of growth.”

For his part, STV Founder Abdulrahman Tarabzouni said: "At STV, we believe that artificial intelligence is not merely a passing technological wave, but the infrastructure and the core engine of the future economy. ISSF’s investment alongside us reflects a shared vision to combine the exceptional energies and talents of our two sister countries, where we will work together to transform entrepreneurial ideas from Saudi Arabia and Jordan into technology giants capable of competing at the regional and global levels.”

This new partnership is expected to create significant opportunities for Jordanian startups in the region, in addition to access to STV’s collective technical expertise in adopting and efficiently deploying AI technologies — particularly given the Saudi fund’s clear strategy, built on the conviction that long-term value in the AI era is no longer tied to building foundational language models, but to companies that develop applications drawing on proprietary enterprise data and deliver direct operational solutions to business needs. This strategy aims to seize opportunities within the AI applications market, which is expected to continue growing in the coming years, supported by increasing enterprise reliance on intelligent solutions to raise productivity and improve operational efficiency.