On February 16, 2025, Iraq Venture Partners (IVP) and the Iraqi Company for Financing SMEs (ICFSME) held a signing ceremony in Baghdad to formalize their collaboration under the Orange Corners Innovation Fund (OCIF), a program supported by the Kingdom of the Netherlands. The partnership aims to improve access to financing for early-stage startups and small and medium-sized enterprises (SMEs) in Iraq.

The signing ceremony was attended by:

• Haitham Al-Qaisi, representing the Iraqi Company for Financing SMEs (ICFSME), along with the company team.
• Hady El-Samra, representing Iraq Venture Partners (IVP), along with the company team.

The agreement bolsters the OCIF program in bridging the financial gap for startups in Iraq by facilitating loan disbursement through ICFSME to eligible SMEs supported by OCIF. IVP and ICFSME will collaborate to ensure efficient loan processing, monitoring, and administration, helping entrepreneurs access the financial resources needed for business growth and sustainability.

Speaking at the event, Hady El-Samra, IVP’s Head of Investments and Programs, emphasized the importance of financial accessibility for startups, stating:
" IVP’s partnership with ICFSME strengthens OCIF by facilitating loan access and providing financial support startups need to grow. With backing from the Kingdom of the Netherlands, Iraqi entrepreneurs can better navigate financing challenges and scale their businesses.”

Likewise, Haitham Al-Qaisi, representing ICFSME, emphasized the institution’s role in SME financing, stating:

“Many small and medium-sized enterprises (SMEs) in Iraq face challenges in securing appropriate financing due to limited access to traditional loans. Through this partnership, ICFSME will provide flexible financial solutions to support startups that have reached operational stages, helping them expand and sustain their businesses.”

The partnership between IVP and ICFSME will streamline the loan process for Iraqi startups, making it easier for them to access essential funding. With the support of the Kingdom of the Netherlands, this collaboration enhances financial accessibility, helping particularly youth-led, impact-driven enterprises contributing towards sustainable development to efficiently grow and scale their businesses.

About Orange Corners Innovation Fund (OCIF)

Orange Corners (OC) is a broader initiative supported by the Kingdom of the Netherlands that aims to empower young entrepreneurs in emerging markets by providing training, mentorship, and access to networks. Through OC, startups receive the knowledge and skills needed to refine their business models and prepare for growth. As part of this initiative, the Orange Corners Innovation Fund (OCIF) was established to provide financial support to the most promising startups, ensuring they have access to the necessary capital to scale and sustain their ventures. OCIF provides financial support, capacity building, and mentorship to startups, ensuring their growth and long-term success.

About Iraq Venture Partners (IVP)

Iraq Venture Partners (IVP), an Iraq-based venture capital firm, focuses on investing in high-potential startups and SMEs. IVP bridges the financial gap for Iraqi entrepreneurs by linking Iraqi startups and regional venture capital firms seeking to expand into Iraq, serving as a trusted access-to-finance partner, and acting as an investment readiness expert.

About Iraqi Company for Financing SMEs (ICFSME)

The Iraqi Company for Financing SMEs (ICFSME) is a non-banking financial institution established in 2009, specializing in providing direct loans to small and medium-sized enterprises in Iraq. Through tailored financing programs, ICFSME aims to empower entrepreneurs and support business growth with flexible financial solutions that meet local market needs.