Posted on October 9, 2017
Berytech is proud to announce that, in addition to the $16,000 support grant that the 11 Agrytech startups receive during their period of acceleration in the program, they can now receive a $15,000 equity-free grant through the iSME Program by Kafalat.
To make this happen, Berytech partnered with the iSME program, which provides, among other types of financing, Concept Development Grants (CDGs). As the name implies, concept development grants are given to eligible recipients to support the preparation and development of innovative business concepts, and strategies, as well as studies and plans. iSME has provided this grant to over 100 startups so far, requiring them to go through their own application process.
The iSME Program is a $30 million initiative funded by the Government of Lebanon and the World Bank that aims to provide early stage funding for financially viable and innovative startups.