Riyadh – Sharikat Mubasher: The Jordan Entrepreneurship Fund (JEF) announced it has signed a partnership agreement with Saudi Technology Ventures (STV), committing $5 million to the Saudi venture capital firm to support artificial intelligence innovation across the MENA region.

As per a recent press release, the agreement marks the start of JEF’s second investment phase, which will focus on generative AI and applied AI companies developing software and operational solutions for businesses. STV also committed to investing in Jordanian startups as part of the collaboration.

The two organizations said the partnership aims to establish an “AI corridor” between Jordan and Saudi Arabia, creating opportunities for funding, mentorship, and market expansion for Jordanian founders.

Rather than investing in foundational language model developers, the partners will prioritize startups building AI applications powered by proprietary enterprise data to address practical business challenges.

Mohammad Al-Muhtaseb, JEF CEO, said the collaboration would help localize AI technology and provide Jordanian startups with access to international networks and advanced incubation opportunities.