Posted on April 20, 2021
Ten solutions from Lebanon have been selected to move on to the next phase of the Green Applied Research & Innovations Support Program, giving these green innovators and researchers additional tailored support to grow their green startups.
The 10-month program is in the context of the EU-funded Green Impact MED Project (GIMED) under the ENI CBC Med programme. It was launched in January 2021, with 20 startups joining an initial 2-month capacity building program designed to support them in developing their green business models and finance and market strategies.
”The first phase of the program did not only provide knowledge and work with the 20 projects on turning their green ideas into businesses, but it hugely focused on addressing the root causes of the environmental and social challenges, solving them, and ensuring more circularity in the life cycle of the product\service and waste reuse,” explains Tala Saleh, Programs Manager at Berytech.
During that first phase, the 20 startups went through a 2-month capacity building program tailored to support them in developing their green business models, access to finance and market strategies.
“I really enjoyed working closely with the first cohort of eco-entrepreneurs under the GIMED program. It was inspiring to see so many young and not so young, motivated Lebanese wanting to make a change by launching their green startup ideas, especially given the current challenging circumstances. Using the newly developed SwitchMed green entrepreneurship online platform and methodology facilitated the process, in particular its eco-design tool,” details Maya Karkour, founder and environmental consultant of Circular Hub and Eco-Consulting.
After concluding the GIMED Capacity Building phase, 20 entrepreneurs pitched to an expert jury panel that selected the nine entrepreneurs who will continue in the next acceleration phase of the program: The Green Coaching Support phase.
“The team and I were proud to note how challenging it was for the jury to select the nine innovative solutions that will move on to the second phase of the program. The hard work, team spirit and innovation were the foundation of the selection where the most promising solutions focused on solving environmental challenges existing today and driving a green and circular economy in the region,” comments Saleh.
The pitching teams were screened based on their value proposition, their innovation, the applicability of their technology and intellectual property, their green business model and scalability potential, their environmental and social impacts, their implementation capacity, and finally on their pitch effectiveness. Here are the 10 finalists:
During the second phase, the participants will benefit from tailored support and group coaching sessions which will prepare them to run their first funding round, potentially scale to international markets, ensure an environmentally friendly lifecycle across their product/service, and train them to pitch in front of investors.
The coaching phase will end with a pitch and network event with investors where only four projects will be selected to receive a 7,500 euros subgrant incubation prize and three months incubation support. Two of the four selected projects will then get the opportunity to participate in additional cross–border events.
Berytech is the official partner of The Green Impact MED Project – Positive Investments for Positive Impacts (GIMED), an EU-funded project under the ENI CBC MED Programme aiming at supporting green entrepreneurs to better access finance and market in the Mediterranean. The project provides training, coaching sessions, capacity building workshops, and sub-grants to consolidate green business creation and green business development. Learn more about the GIMED Project.