In 2014, Mohamed Al Hakim made a bold decision to leave a stable career in London and return to Iraq amid turmoil. Eleven years later, he is a pioneering force behind Iraq’s growing digital entrepreneurship scene as co-founder of Abu Dhabi-based venture capital fund and venture builder EQIQ.
Al Hakim’s journey reflects Iraq’s emerging tech landscape, where startups in FinTech, e-commerce, logistics, and digital banking are reshaping how people shop, pay, and conduct business. Despite challenges like regulatory hurdles and lack of data, the country is witnessing promising growth in entrepreneurship, with Iraq ranking 118th globally and 11th in the Middle East on the StartupBlink 2025 index.
EQIQ, which closed its first $15 million fund in 2023 and plans to double to $30 million, has already invested $8.5 million in five tech ventures including social commerce, logistics, and edtech platforms. Al Hakim emphasizes Iraq’s improving security and political stability as key drivers for a more vibrant startup ecosystem.
A native of Iraq who spent formative years in Sweden and the UK, Al Hakim combines global experience with deep local insight. He underscores the urgency to modernize Iraq’s economy beyond oil dependency by supporting digital innovation and financial inclusion through ventures like Ideal Financial Services and Zain Iraq Islamic Bank.
“I returned to Iraq to make a difference in the private sector and build something meaningful,” says Al Hakim. His vision is clear: leverage advanced technology and international expertise to foster sustainable growth, creating opportunities for Iraq’s youthful population and transforming the nation’s economic future.
