JoPACC Initiates the second round of the Incubation Program through JOIN Fincubator

The Jordan Payments & Clearing Company (JoPACC) initiates its second incubation program for 2024 through JOIN Fincubator. Building upon the success of last year's inaugural cohort, this program aims to further nurture promising fintech startups. By offering a comprehensive range of support services, it seeks to empower qualified participants in refining their initial business models, ultimately facilitating the launch of their solutions in both local and global markets.

Before commencing the Incubation Program, a Bootcamp Program was conducted. Thirty-four teams participated, receiving fundamental insights into the financial sector. This preparatory phase empowered teams to develop their initial business model canvases and ensure their fintech concepts resonated with market demands. Among these teams, 28 submitted the bootcamp deliverables, with 24 subsequently qualifying for the Incubation Program. These qualifying teams showcased fintech ideas catering to various industries.

The incubation program consists of three primary phases. Firstly, the "Bootcamp" phase, lasting four weeks, emphasizes preparation. Following this, the "Fit" phase spans 12 weeks, focusing on product experimentation and development setup with the primary goal of refining the initial Minimum Viable Product (MVP). During this phase, participants are paired with technical and business mentors through Mentor Matching, engage in Vertical-Specific workshops, and address financial modeling, legal, and registration requirements. Lastly, the "Launch" phase, spanning eight weeks, allows participants to officially launch their MVPs into the market. This final phase culminates with a "Demo Day," during which startups present their MVPs and pitch their solutions to potential investors and financial institutions, providing them with access to funding and finance.

JOIN acts as a springboard for visionaries and Fintech creators, furnishing them with invaluable chances to test and enhance their fintech innovations. Also, JOIN administers courses led by specialists and fosters connections between startups and prospective investors. This empowers them to unlock avenues for introducing their innovations, guaranteeing their concepts garner acknowledgment on both local and regional scales.