The first investment in one of the startup companies of HASSAD Agritech accelerator emphasizes the importance of the agricultural sector and food security.
Amman: Amidst the negative repercussions of the COVID19 and the adversities for people and all economic sectors, except for the agricultural sector and its investment trends that proved its strength in facing this crisis, “HASSAD” Agritech accelerator officially announces that “TWIG” company that is affiliated to HASSAD’s first accelerator program has recently managed to attract an investment from Miqdadi Agricultural Materials Company “AMC”.
TWIG is one of the companies that benefited from the business acceleration program provided by HASSAD that is specialized in supporting entrepreneurial projects operating in the field of agricultural and food technologies. TWIG is specialized in smart software and applications supporting the home gardening sector. The founders of TWIG confirmed that this first investment in the company is going to help in the implementation of the growth plans and develop related technological solutions.
TWIG provides a comprehensive application with the ability to manage both the workforce and the businesses, in addition to providing integrated services and products to the agricultural sector, such as landscaping and garden maintenance with the utmost quality and professionalism, as well as providing garden owners with the opportunity to choose their own designs easily through TWIG’s website while removing the stress and burden of following up on the workforce as workers will be selected and followed up with through TWIG’s team.
The announcement of this investment aids in encountering and removing the negative impact on the economic situation that is witnessing a decline in public spending and investments in general, and it also emphasizes the importance of the agricultural sector and its profound role in achieving self-sufficiency and solving the unemployment problem in the kingdom, a matter that represents the core and mission of AMC which prompted it to invest in a growing and promising company like TWIG.
Omar Miqdadi, AMC’s Vice Chairman, believes that the COVID19 crisis that we are currently witnessing compels us to care and pay attention to the Agricultural sector and the emerging companies in it, especially those that use technology to serve this sector and facilitate access to its products and services or raise its productivity and efficiency.
Mr. Miqdadi also pointed out that great opportunities in this sector are what prompted AMC to invest in TWIG where the return on investment will be seen rapidly on the work of these institutions financially and on their market evolution.
For his part, Mohammad Al Homsi, founder and CEO of TWIG stressed the importance and need for the company at this stage for such investment to support the company in the development and implementation of its idea to benefit the agricultural sector and its workers.
Mohammad said: “We are looking forward at TWIG to creating a leading technological service component in the agricultural sector and making a quantum leap at the information and technical levels of operation, qualification, and automation using technologies and modern innovations and also contributing to improving the commercial spread of products and services on the global map, starting from the landscaping sector in Jordan, with the aim of expanding in the region and globally.”
Mr. Homsi added “we are proud of our partnership with AMC, which will provide us with the necessary support to enable us to achieve our vision and implement strategies faster and at a steady pace, especially that our new partner is distinguished in their legacy, knowledge, and experience as they have been working in the agricultural sector for a long time, and I see that our partnership is integrative, that brings together the flexible and fast startup and the well-established company with experience and widespread in the same sector.”
Mr. Homsi emphasized on the value of this investment deal saying that “this experience will add a lot to us as it will facilitate our mission and accelerate the pace of work to reach and cover the target markets, which will help TWIG to become a company that provides services to several countries around the world with fast access and high professionalism in the future”.
The Program Manager of the HASSAD, Mr. Mohammed Alafranji highlighted the importance of this investment as one of the most important investments since TWIG is one of the companies that benefited from the first acceleration program implemented by the accelerator last year, indicating that the accelerator’s main objectives aim to rehabilitate and prepare the pioneering companies specialized in supporting technologies for the agricultural sector to be capable of growth, expansion and attracting investment.
Alafranji said that HASSAD recently started working with 6 new start-up companies to accelerate their businesses within the second cohort of HASSAD’s business acceleration program and during this current month, HASSAD began working on the third cohort of the acceleration program, with the hope that this program will result in qualifying several Jordanian pioneering companies specialized in the agricultural sector to be able to grow and influence the agricultural sector positively.”