Kickstarting VC in a small ecosystem

By Tambi Jalouqa

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Biography 

Tambi Jalouqa is the managing partner at Propeller, a Jordan-based VC. An engineer by training, Tambi started multiple tech companies in Jordan prior to launching Propeller. 

Why did you launch your VC in Jordan rather than in the UAE or Saudi?

There is an impact element. Saudi and the UAE are easier places to start a VC and there is more deal-flow. But I’m Jordanian and I want to grow my country’s economy, create jobs and transform it from a consumer to a producer of technology. If every Jordanian in an “intellectual” profession left, the country would eternally stagnate. 

I also think that Jordan has more raw, entrepreneurial talent than Saudi for example. Saudi has opened its economy lately but its job market has historically been dominated by behemoth corporations, such as Aramco. The Saudi population’s mindset is gradually changing but Jordanians have been launching (and more importantly, failing) companies for longer. Aramex, Maktoob, Replit… Jordan and Jordanians have already been the originators of great internet companies. 

In countries such as Lebanon, the case for local talent to stay is thinner and thinner. What would make you leave Jordan?