GE, A Baghdad, Iraq based organization integrated with Kapita, an investment management business hub for the expansion of Iraqi entrepreneurship community on 14th of February, 2021.
What the funding is for: The company would be aiming to support up to 50 microbusinesses owned by young Iraqis by offering marketing, funding and business training. According to sources, the organization aims to assist promising young Iraqi entrepreneurs to scale up their reach.
Primary objective about the company: The main aim of the company is to drive the world forward by tackling its main challenges by integrating world class engineers with analytics and software development.
Founded Year: 1892
About the company: GE is a publicly held organization which operates under the mechanical engineering industry. Its headquarters is established in Boston, MA and has a work strength of 5001-10,000 employees. They also deal with various specialties like healthcare, intelligent platforms, renewable energy and transportation.GE rises to a challenge of building a world which works.
What the CEO has to say: “Microbusinesses play a significant role in driving the progress of the nation by contributing to youth employment, building economic self-reliance and supporting the growth of the local value chain. As a long-term partner in the development of Iraq, GE believes it is important to support the next generation of entrepreneurs and positively influence their lives through thesis programs. We are committed to supporting the country and the people in building a vibrant microbusiness environment that generates confidence and positivity among Iraqi youth by unlocking their creative, innovative and entrepreneurial potential.” – Rasheed Al Janabi, CEO of GE.
What the investors have to say: “As a private sector development company committed to enhancing the microbusiness ecosystem of Iraq, our goal is to build grass-root level entrepreneurial talent and enable them to achieve their highest potential. GE’s support of young Iraqi entrepreneurs enables them to understand essentials in marketing sales and domestic manufacturing from one of the world’s top industry leaders. This sets a new model in knowledge sharing and skills development, which is crucial for the success of microbusiness development.” – Mujahed Waisi, CEO of Kapita.
Usually starting at zero-budget plans which are dependent on revenues to acquire raw materials, the microbusiness stands to benefit from GE’s services and in-depth training to support sales, production and marketing. GE’s support would further legitimize small and medium sized businesses through market development and investment programs.
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