Posted on March 4, 2020
Berytech has launched the third edition of the ‘Innovation Factory: From Research to Market 2020’ – a 4-month program revolving around Technology Transfer and allowing researchers and novel startups to develop their innovation in any sector into commercially viable products and applications.
The program, based on technology transfer, gives participants international exposure with access to local and global markets, B2B networks, and a pool of seasoned experts, mentors, and investors. It is funded by the European Union under THE NEXT SOCIETY program, and organized in Lebanon by Berytech and Anima. The applications are open online till April 6, 2020 online here.
Technology transfer is the process of transferring technology, in addition to skills, knowledge and manufacturing methods, from an enterprise or university to a wide range of users, while creating economic value and developing the respective industry.
Improving the process of technology transfer in Lebanon will foster innovation in tackling economic, environmental and social challenges, creating job opportunities and empowering both academics and young entrepreneurs towards creative problem-solving.
“Most university discoveries never leave the lab, even though they can be transformed into growing startups or commercialized within international companies. In fact, these discoveries can be turned into products and solutions that improve the quality of life, help businesses grow or even disrupt entire industries,” explains Krystel Khalil, Director of Programs at Berytech
The Innovation Factory program is open to researchers, postgraduates, innovators, engineers and technicians who want to turn their research project, discovery or technology into a successful business.
Six selected projects will have the chance to attend a 3-day intensive bootcamp, led by an international expert. The Bootcamp’s program focuses on teamwork, networking, mentoring sessions with international and local experts, learning, applied knowledge and exchange of expertise. It will aim at helping you explore market, funding, commercialization and business opportunities, as well as develop a valid business model for the innovation.
The six teams will be showcasing their technologies during a matchmaking and showcasing event, where they will pitch in front of an audience of partners, jury members, industry players, experts and investors, getting valuable feedback and collaboration opportunities for their projects. They will also get feedback from the jury. One team will be selected to proceed with the incubation phase.
The final selected team will have follow-up personal working meetings and technical assistance sessions with the Berytech Business Support & Development Team to develop the business plan and be ready to meet with investors. The incubation period will revolve around: setting the selected team’s roadmap of activities, assessing their needs and challenges, matching them with the right experts, setting up meetings with potential investors, and granting them access to masterclasses.
The Innovation Factory Program is open to researchers, innovators, engineers, or professors having an applied research project or technology-based innovation in any sector with an existing prototype that is locally developed with the potential of scalability. The innovation must address major industrial, societal or environmental challenges, and it must be transferable (no Intellectual Property issues). The project should be close to the commercialization and market application. Applicants will be assessed based on the strength of their application, including technology innovation assessment, the economic viability of the project, the team expertise and motivation.
About THE NEXT SOCIETY
The Innovation Factory program is organized and covered by Berytech in the frame of THE NEXT SOCIETY, an initiative funded by the European Union that aims to support innovation in the Mediterranean. It gathers and supports entrepreneurs, investors, corporate, NGOs, innovators, research and economic development hubs from Europe and the Mediterranean countries.