Netaj has launched Nawat, Iraq’s first venture capital studio, with the goal of backing and co-building startups through a new model of structured early-stage support.
Headquartered in Baghdad, Nawat marks a shift from traditional accelerators. Rather than offering generalised programming, it adopts a hands-on studio model,working closely with founders from idea validation through to product-market fit and investment.
The studio will admit 40 startups annually, segmented across ideation, MVP/prototype, and early-established tracks. Startups receive tailored support including expert-led bootcamps, one-on-one consultations, mentorship from industry professionals, and access to investors via demo days and curated matchmaking.
“Nawat is a movement to reimagine how startups are built and backed in Iraq,” said Wissam Mattout, CEO of Netaj. “We are bridging the gap between raw talent and structured capital, offering founders a launchpad to scale both locally and globally.”
“For too long, Iraqi entrepreneurs have had to build in isolation,” Mattout added. “Nawat will equip them with the expertise, tools, and capital they need, not just to survive, but to lead the next wave of innovation in the region.”
Nawat’s hybrid investment model includes in-kind support valued between $10K–$25K, such as product development, branding, and digital tools, and direct financial investment ranging from $25K–$250K in the form of convertible notes or equity. Netaj plans to invest in the top 5–10 startups that demonstrate strong traction and founder commitment.
“This is Iraq’s moment,” said Mattout. “If we want to build serious startups, we need serious infrastructure. Nawat is the missing puzzle piece, designed for founders, by founders.”
The launch comes amid renewed efforts to catalyse Iraq’s private sector through digital innovation and youth-led entrepreneurship.
