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NJEDA Awards First $2M under Angel Match Program to Support Early-Stage Technology Companies

American Entrepreneurship

This early commitment from the NJEDA catalyzes additional financing in these innovative startups. The ultimate goal is to foster an entrepreneurial ecosystem that leads to greater economic growth by providing companies with crucial funding for product development, marketing, research and development, and other working capital needs.

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IFC launches new platform to bolster digital economy in Africa, Middle East, Central Asia, and Pakistan

AsiaTechDaily

“Support for entrepreneurship and digital transformation is essential to economic growth, job creation, and resilience,” said Makhtar Diop, IFC’s Managing Director. In 2021, Africa, Middle East, Central Asia, and Pakistan received less than 2% of the $643 billion global venture capital funding.

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IFC leads $17M investment in South African insurtech Naked

TechCrunch

Naked , a South African insurtech company that helps consumers to insure their cars, homes, and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC). The round welcomed participation from the German Development Finance Institution (DEG), and earlier investors, Yellowwoods and Hollard.

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NJEDA Program Helps to Draw Investment Interest into Innovative NJ Startups

American Entrepreneurship

According to estimates from PitchBook, venture capital and angel investment activity has declined since 2021, with a 40 percent reduction in the amount of companies receiving investment and a 50 percent decrease in investment funding. For a full list of eligibility requirements and further information on the program, visit [link].

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Komunal secures $8.5m to strengthen Indonesia’s neo-rural bank ecosystem

AsiaTechDaily

The fintech industry has enormous potential in Indonesia, particularly in fostering the growth of MSMEs. Fintech help SMEs manage their finances and capital with convenience and efficiency. This represents a 350% YoY growth compared to 2021, wherein the number of deposits and loans disbursed amounted to $50 million (IDR 781 billion).

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NJEDA’s $4M Innovative E-Commerce Program has Helped over 150 Small Businesses Expand Online Presence

American Entrepreneurship

This program is funded by the Main Street Recovery Finance Program, which was established under the New Jersey Economic Recovery Act of 2020 (ERA). The Small Business E-Commerce Support Program is the fifth pilot program the NJEDA approved under the Main Street Recovery Finance Program.

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Nigerian data and intelligence company Stears raises $3.3M, backed by Mac VC and Serena Ventures

TechCrunch

Serena Ventures, Omidyar Group’s Luminate Fund, Melo 7 Tech Partners and Cascador (Empowering Economic Growth Foundation) participated. The $100-a-year product witnessed significant usage among consumers, particularly employees working in various finance-related institutions across the country.

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