Posted on January 16, 2020
Berytech has announced that applications for batch 1 of the Cleanergy Accelerator Program are now open with a deadline of June 7, 2020.
Clean technologies are taking center stage in creating smarter and more sustainable ways of living in the face of quick evolving environmental challenges. Berytech is catalyzing cleantech innovations through a yearly three-phase program that allows cleantech entrepreneurs grow their startup from an idea into a scalable business.
The program walks these entrepreneurs through the journey of validating their product, building an MVP and testing it, establishing their business on different levels, scaling and fundraising by offering them the resources, knowledge, support and funding that they need.
The Cleanergy Accelerator Program is jointly funded by Berytech and The Kingdom of the Netherlands.
Berytech is looking for innovations which have a disruptive scientific or technological focus in the cleantech sector. The startups must have the capability to scale beyond the Lebanese market but with the potential to create sustainable job opportunities locally.
Berytech will support the startups with innovations across the cleantech sector through the yearly 3-phase Cleanergy Accelerator by helping them grow their idea into a successful business with global impact. The program offers the necessary resources, knowledge, support, and funding worth around one hundred thousand US dollars – $100,000.
Cleantech innovators and startups who qualify for the program will receive funding – up to $37K cash injection, will have access to Berytech’s electronics and hardware Fabrication Lab with technical support to prototype, will receive Business Coaching during bootcamps, training sessions and master classes to develop their entrepreneurial competencies, will be promoted in local and international markets as well as have the opportunity to link with the Cleantech community and a pool of dedicated Lebanese and European experts.
The clean technology solution should include an innovative process, product, or service that reduces negative environmental impact. The entrepreneur needs to be part of a startup or SME at an idea or early stage.
Berytech is sourcing solutions that fall under these 5 sectors:
Up to 24 shortlisted applicants will first go through a two-month Validation phase. This first phase focuses on practical approaches to define objectives and validate assumptions about the problem, the opportunity, the market size, the audience, and the feasibility of the solution. Experts and mentors will follow-up and advise the startups on best practices to achieve validation. Startups accepted into the first phase will receive $2,000 to validate their ideas and prototypes.
Up to 12 startups will then be shortlisted and move to the 4-month Acceleration phase, to build a minimum viable product (MVP) and get traction with a $15,000 support grant. This phase focuses on operations, product development, business modeling, and go-to-market. Experts and mentors will follow-up and advise the startups on how to build and launch an MVP. Founders learn about product-market fit, how to communicate to the right audience, develop the basics of a sustainable financial structure to secure the stability and growth of the business, and clear all bottlenecks that limit their product delivery.
Typically, during acceleration, software startups finalize and launch an alpha version of their MVPs, and hardware startups clear all technical bottlenecks that limit them from delivering their product to market.
Finally, up to 8 startups will be shortlisted to join the 5-month incubation program and will benefit from up to $20,000 in matching grants. The incubation phase will focus on fundraising, operations, and building healthy client and investor relationships to gain traction and scale. Experts follow-up and advise startups on how to scale their businesses after launching their product in the market. Activities will include private and group interactions that enable the growth of startups participating in the group incubation phase, including workshops, meet-ups, talks, group pitching sessions, and a boot camp. Private interactions include clinics that tackle operations, finance, and investment readiness along with monthly review sessions to ensure that the startups are on the right path to achieve their objectives.
Read more about the Cleanergy Accelerator Program here.