Berytech launches Regional Innovation Factory Program 2020

Posted on September 21, 2020

Research, innovation, and technology development play a crucial role in addressing the challenges we are facing in a novel approach and create viable solutions that impact positively the environment and society, creating new rising opportunities”

An activity of THE NEXT SOCIETY Tech Booster Program

Berytech is managing the fourth edition of the EU-funded Innovation Factory: from research to market, a program allowing researchers, innovators, engineers, and professors from seven (7) Mediterranean countries to develop their research or technological innovation in any sector into a practical and commercially viable product or service.

Building on the successful pilot of the Innovation Factory program in Lebanon that accelerates applied research projects to market, and leveraging on the NEXT SOCIETY community, Berytech has built a regional digital edition of the program, called the Regional Innovation Factory. Berytech in partnership with ANIMA Investment Network and in collaboration with partners from THE NEXT SOCIETY Mediterranean network in Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine, and Tunisia, is launching the first regional edition of the program to foster regional exchange of best practices and international innovation opportunities among applied research and technology transfer players.

“Addressing technology transfer is a top priority for THE NEXT SOCIETY movement: we are convinced it represents a major driver of value creation and innovation for the Mediterranean region. Our ambition is to demonstrate that research-based startups offer effective responses to economic, social and environmental challenges in our countries, and beyond,” comments Zoé Luçon – Senior Expert at Anima Investment Network, in charge of the Tech Transfer Booster Track in THE NEXT SOCIETY.

Strategic Focus

Innovation is an essential driver of economic progress that benefits consumers, businesses, and the economy. Research on the other hand plays a critical role in the innovation process especially in the development of technology and knowledge and is a key factor in developing new competitive advantages for the products or services developed.

During 2020, focusing in particular on the Mediterranean region, we notice various economic challenges as a direct impact from the COVID-19 pandemic, which will permanently reshape our world as it continues to unfold and create new emerging opportunities.

“Research, innovation, and technology development play a crucial role in addressing the challenges we are facing in a novel approach and create viable solutions that impact positively the environment and society, creating new rising opportunities,” explains Krystel Khalil, Director of Programs at Berytech.

In the process of adapting to the new economy’s opportunities, the Regional Innovation Factory Program will target applied research and innovative projects that address a post-pandemic world. This will help in creating a positive impact for the Mediterranean region and generating viable opportunities with a new business and technology perspective, tackling digital technologies, fin-tech, new energies, project management, healthcare, education, entertainment and gaming, digital infrastructure, emotional wellbeing, supply chain logistics and more.

Regional Program Timeline

Berytech will shortlist twenty-one teams from the 7 partner countries, who will attend a 3-day entrepreneurship bootcamp with seasoned experts in December 2020. The teams will pitch in front of jury members to get feedback and get selected to receive incubation support from Berytech. In February 2021, seven (7) selected teams will attend a virtual matchmaking event with industry experts and potential investors for the selected projects. The selected teams will benefit from the 4-month incubation support from Berytech and partners including technical and business assistance. One team will be selected for a Soft-landing opportunity to get short-term business and collaboration support from a European partner.

Application deadline: November 5, 2020

Selection Criteria

Candidates wishing to participate in the Regional Innovation Program need to fit the following criteria:

  • Applied research or project is innovative and technology-based
  • Project has an existing prototype or product launched in the market
  • Project addresses an important economic or social need
  • Market and economic viability of the project
  • Potential of scalability to the Mediterranean region
  • Team expertise and motivation
  • Projects that capitalize and address opportunities in the post Covid-19 society are a plus
  • Project should be based in Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine, or Tunisia and should include at least 1 member who holds the nationality of the country
  • The process of commercially developing research technology into new products or services varies

Learn more about the Regional Innovation Program.


About Berytech & THE NEXT SOCIETY

Berytech is the exclusive project partner of The Next Society in Lebanon, working since 2017 on the initiative, which gathers a large network of over 300 business and innovation, research and investment organizations, 2500 international SMEs and entrepreneurs from 30 countries.

The Next Society is an open community of changemakers, entrepreneurs, investors, corporates, NGOs, public and private innovation, research and economic development hubs from Europe and 7 Mediterranean countries: Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine and Tunisia. It aims at mobilizing, promoting and reinforcing innovation ecosystems and economic development in the MENA region.

Launched by ANIMA Investment Network, The Next Society initiated a four-year action plan (2017-2020), co-funded by the European Union up to 90% for a global amount of EUR 7.8 million, which impacts 4 levels of the innovation ecosystem: improve policy frameworks, foster startup successes, promote and internationalize clusters, and accelerate technology transfer towards the enterprise.

“The Next Society is more than just a project; it is a movement building the next generation of innovators.”