Ibtikar, a popular Arabic name, translates to innovation, symbolizing disruptive concepts that redefine reality and drive society forward. With that vision illuminating their mission, Ambar Amleh and Habib Hazzan co-founded Ibtikar Fund, a VC catalyst of change focusing on Palestinian entrepreneurs.
Through financial intervention, Ibtikar Fund helps Palestinian enterprises stand strong amidst the turmoil, nurturing the essence of this Middle Eastern land – one of determination, resilience, and human-centrism. The co-founders’ purpose to spark economic recovery is personal, motivating them to guide Palestinian entrepreneurs through this uncertain geopolitical landscape.
Ambar’s education – and later career – centered around the power of marketing, leading her to a marketing degree at Arizona State University. From Wells Fargo to M&I Bank and Bank of America, her professional journey started straight in the deep end, working with the most recognizable institutions. Dedicated to refining her skills and expertise, she then received an MBA qualification from Thunderbird.
Her story with Palestine began with an NGO project created to train and assist women running for office. What first started as a passion project – providing guidance during and after campaigning, allowing women to stay ahead of the curve – quickly turned into Ambar’s life mission. Recognized for her efforts in helping women curate impactful strategies that potently communicate their message and values, Ambar was selected to join Kauffman Fellows in 2018, marking the second time a woman from the Middle East was invited to join this coveted fellowship initiative.
Prompted by the transformative impact of MENA on her heart and mind, Ambar helped create Palestine for a New Beginning and FastForward, two organizations that emanate the human-orientated and economically sustainable essence of her vision of the country’s future.
A culmination of her inspiring and transformative time in the region, Ambar helped envision the revolutionary concept of Ibtikar Fund – an institution driving tangible personal and societal growth for Palestinian entrepreneurs. With an unwavering belief in the country’s thriving future, her endeavors are more than economic guidance; they also help the flame of hope and resilience burn bright.
Habib Hazzan’s connection to Palestine is intertwined in his DNA. Born into a family teaching the schools of Nazareth, he has always felt appreciative of the knowledge drive instilled in him by his parents – passionate individuals who gained extensive knowledge at Israeli Universities. Continuing their legacy, he graduated from the Hebrew University of Jerusalem with a law degree, soon after starting his professional career.
Amidst the country’s rise – sparked by the Palestinian Authority’s growing prominence – Habib established many businesses that are still the pillars that uphold the Palestinian economy. Later, with a Fulbright scholarship, Habib pursued an MBA from Emory Goizueta Business School – an accolade that allowed him to be accepted for an attractive position at IBM, where he traveled the world, all the way from China to America.
Despite a prosperous career and enjoying what the world has to offer, Habib felt compelled to return home and nurture Palestine’s spirit of innovation. After coming back, he rediscovered his purpose as an integral part of the Palestinian negotiation team. There, he advocated for matters essential for Palestinians to prosper, from streamlined electricity and international relations to trade.
Perhaps what best attests to Habib’s impact is his acceptance at Tel Aviv McKinsey – a milestone never achieved before by an Arab. Leveraging his increasingly growing network, Habib continued championing equality by establishing numerous NGOs with a united mission – fostering a better future. In 2009, he co-founded one of MENA’s first VC businesses. With a focus on Arab entrepreneurs, the company built an impressive portfolio featuring many of the region’s first Internet firms – pioneers in medical information, e-books, travel, well-being, and many more.
When Habib combined his expertise in introducing VC investing into Arab markets with Ambar’s marketing aptness, Ibtikar Fund was organically born in 2015. Since then, the organization has remained dedicated to transforming the nation’s economy by funding promising businesses at their nascent stages. “Too many innovative ideas wither due to lacking funding. There is a critical early-stage funding gap, and we aim to bridge it,” remarks Habib. Ambar further shares: “It’s for the economy, for the people, and for all that Palestine can and will be—a land of prosperity, opportunity, and innovation.”
