Oasis500 holds “Space Ventures” press conference

Oasis500 held, in cooperation with King Abdullah II Fund for Development (KAFD), European Space Agency (ESA) and the European Investment Bank (EIB), a press conference at The Jordan Museum, to announce the partnership and commitment in launching the first ventures fund focused on the business of space in the region.

Oasis500’s partnership with KAFD, ESA and EIB aims to bring together the efforts, attract investments and develop the fund’s financial resources; collectively aiming to enhance the credibility of the project and facilitate it’s full scale launch.

Mr. Yousef Hamidaddin, Oasis500 CEO exhibited the importance of space technologies in servicing different walks of life; such as in transportation and the environment; highlighting the role of satellite-based sensors and other space technologies to help Jordan address several environmental issues, including climate change issue. “The Jordanian quest in expanding space science might still be in its early stage, but it will evolve with time. The discussed topics in this conference furnished its guests with new information, and thus creating an opportunity for interested entrepreneurs to challenge various theories and experiments. These experiments will generate, undoubtedly, doable projects at a later stage." Said Mr. Hamidaddin.

“Today, we celebrate the fruit of our cooperation with Oasis500 in preparation to launch the first phase of the space ventures fund; which we are proudly supporting to transform global inventions into products that meet local and regional market’s needs, through companies founded by our young entrepreneurs”, said H.E Mr. Imad N. Fakhoury, Chairman of the Board of Trustees of the King Abdullah II Fund for Development. He also emphasized on the important role played by KAFD in executing His Majesty King Abdullah II’s directives, to create a generation of entrepreneurs and innovators, through a bundle of programs run by three trends: upbringing children, youth orientation and abilities development, in addition to providing youth with financial and logistical support.

Mr. Fakhoury concluded by stressing on the fund’s support to the project to facilitate the launch of the first phase, and on the importance of partnering with different parties to strengthen the role of Jordan as a pioneer in the region.

It’s worth mentioning that the European Space Agency (ESA) is Europe’s gateway to space. Its mission is to shape the development of Europe’s space capability and ensure that investment in space continues to deliver benefits to the citizens of Europe and the world. ESA’s role is to develop the European space programme and carry it through. ESA's programs are designed to find out more about Earth, its immediate space environment, our Solar System and the Universe, as well as to develop satellite-based technologies and services, and to promote European industries. ESA also works closely with space organizations outside Europe.