Posted on May 22, 2020
Berytech, through THE NEXT SOCIETY tech transfer booster track, offers tailor-made activities for researchers, managers of technology transfer offices and industry leaders to support the commercialization of innovation towards industry.
One of the activities includes the Innovation Factory Program allowing researchers and novel startups to develop their innovation into commercially viable products and applications. It is funded by the European Union under THE NEXT SOCIETY, and organized in Lebanon by Berytech and Anima Investment Network.
“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.
She continues, “We designed a tailor-made program to help young researchers develop their startups: The Tech Booster. Berytech has been instrumental to inspire and shape this program, which is now implemented throughout the region by THE NEXT SOCIETY community and partners, leading to great success stories.”
Indeed, the program attracts strong interest from all stakeholders including investors who find an impressive dealflow of very innovative projects, companies who collaborate to develop cost-effective solutions to their industrial challenges, academia who gets new opportunities for graduates and post-graduates, and authorities who also get involved to stimulate their innovation ecosystems and invent new solutions for their territories.
“New leaders of Mediterranean entrepreneurship emerge from this intensive programme offering a bootcamp, one-on-one coaching and matchmaking opportunities,” concludes Luçon.
The third edition of the Innovation Factory Program is currently supporting 6 teams from research to market. The four-month program includes an intensive bootcamp, a jury day, a virtual matchmaking event as well as 3-month incubation support for one selected team.
The 6 selected research teams just attended the 4-day intensive virtual bootcamp, led by Dr. Mohab Anis – lead Trainer and CEO of INNOVETY, a leading innovation management consulting firm.
On the first day, the researchers learnt the fundamentals of business innovation, which segments they can target and how to capitalize on their needs and behavioral trends. On the second day, the teams crystalized their technological solutions, coupled them with a viable business model, and ultimately conducted the needed market validation. Researchers were then given day 3 to reflect on their business plans and address any pending challenges. Finally, day 4 focused on financial planning and valuation, and the six teams were ultimately given the opportunity to receive one-on-one coaching from the Berytech team and Dr. Anis.
“It was an absolute pleasure to be part of Berytech’s 2020 Innovation Factory program where six teams were given the knowledge and skills to transform their research-based innovations into commercially-viable products. Such programs are critical to have because they shed light into the wonderful research-based innovations that are being developed at Lebanese universities and demonstrate the social and economic value they can bring to the market,” comments Dr. Mohab Anis.
Dr. Anis concludes, “Overall, this bootcamp was a wonderful opportunity for me to meet many brilliant researchers and get to provide guidance to a variety of interesting technological projects. This would not have been possible without the tremendous efforts by the Berytech team; Tala Saleh and Krystel Khalil. Thank you for making this bootcamp successful!”
The six teams will be pitching during the Innovation Factory Jury day on May 29, 2020, where one team will be selected to win the 4000 euros grant prize and receive 3-month incubation support from the Berytech team.
The teams will then participate in a 3-day virtual matchmaking event where they will conduct one-on-one meetings with investors, experts and industry players to develop their research and innovation and explore potential collaborations.
About Innovation Factory
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. Learn more here.