Posted on February 22, 2018
The UBI Global Presents the top World University-linked Business Incubator and Accelerator Rankings in Toronto, Canada.
Berytech was just voted Top Challenger MENA 2017 – 2018 at the World Incubation Summit 2018 organized by UBI Global, the Stockholm-based research and advisory firm known for its regional and global studies that map and evaluate the world of business incubation.
The Top Challenger Award is presented to university-linked incubation programs that stand out from their peers with regard to a particular characteristic across all program types and university-relationship setups. Berytech was initiated by the Saint-Joseph University in 2002 and has been working on building and supporting the entrepreneurship scene in Lebanon ever since.
According to UBI Global, a top university-linked incubation program is a business incubator or accelerator connected to an institution of higher education that achieves outstanding impact and performance relative to its global peers. The program outperforms its global peers with regard to the value it provides to its innovation ecosystem and its client startups, as well as the attractiveness of the program itself.
This year the final participants were selected after assessing a total of 1370 programs, 259 of these programs, including Berytech, located in 53 countries, were retained for the benchmark.
“We are very proud and honored to receive such a prestigious international award, one which recognizes our efforts,” comments Maroun N. Chammas, Chairman and CEO of Berytech. “It is because we offer the right ecosystem for innovative entrepreneurs, backed by a solid corporate governance and the right vision, that we are able to successfully do what we do. And to be voted Top Challenger among over 250 worldwide programs is a true confirmation of our impact and performance.”
Berytech’s incubation program addresses early stage businesses and focuses on MVP, testing, business planning allowing a flawless transition into full-fledge operations. The incubation process of Berytech allows project holders and young start-ups to benefit from business counseling while being physically hosted on the premises. Moreover, incubatees are closely accompanied by a mentor for the duration of their incubation period, throughout which they will benefit from management and budget follow up. In parallel, Berytech audits periodically the evolution of the project and the incubatees performance.
The UBI Global World Benchmark Study 2017/2018 reveals that the participating incubation programs accepted over 10,000 new client startups in the year of 2016. Their current client and recent alumni startups have over 72,000 employees on the payroll today. Furthermore, over the past five years, these same ventures generated over $3.2billion in sales revenue and raised a combined total of over $4.7billion in funding.
UBI Global CEO and Co-founder, Ali Amin adds, “Our goal is to visualize the many great accomplishments achieved by the business incubation community. By highlighting the impact and performance of these programs, we are not only helping incubators and accelerators to become more efficient, but we are also assisting government officials in developing their respective innovation ecosystems. The benchmark and rankings also enable corporations to make informed partnership and investment decisions about the incubation programs and the startups they intend to engage with.”
The complete rankings are available here.
About UBI Global
UBI Global is a Swedish-based data and advisory firm specializing in mapping, highlighting, and connecting the world of business incubation. Through a network of more than 500-member organizations from over 70 countries globally, UBI Global provides matchmaking, ranking, benchmarking, and research services to corporations and business incubation programs.
Previous results from UBI Global’s studies have been featured on BBC Radio, The Chicago Tribune, Le Figaro, Der Standard, The Huffington Post, The Irish Times, France 3, and other media.