Apply as a Women-Owned or Women-Led Startup

Get the chance to receive a grant between €25,000 and €50,000 to strengthen and grow your women-led or women-owned startup despite the challenging political, economic, and social environment in Lebanon.

Eligibility Criteria

Eligibility Criteria

Who can apply and then be pre-selected during phase 1?

  • Legally registered startups in Lebanon from Seed to Growth stage already integrated in an IM Fndng supported accelerator and/or fund.
  • Lebanese nationals as owners or CEOs.
  • Women led businesses, namely:
    • (a) the CEO is a woman as CEO/COO (President/Vice-President); and/or
    • (b) at least one executive is a woman; and/or
    • (c) ≥ 30.0 of the company’s shares are held by women; and/or
    • (d) ≥ 30.0 percent of the board of directors being women, where a board exists.
  • The startup is less than 6 years old (starting from legal registration)
  • Received less than USD 3M in total funding since establishment.
  • Businesses working across the following sectors – This includes but is not limited to: SaaS, AI/Data, Ecommerce, Edtech, Health Tech, Media & Entertainment and Fashion & Design.
  • Companies must have contractual employees with social security payments and tax obligations up to date.
  • All employees must have a contract.
  • Companies will be up to date to their social security payment and tax obligations.
  • Eligible startups will have to submit a plan on how they intend on using the funds/grant and will need to submit relative supporting documentation (quotations, invoices, receipts, etc.). These plans will be prepared with the help of experts and business advisors.

Selection Criteria

IM Fndng will evaluate business plans based on the following criteria:

  • Scalability: The startup should fill a gap and/or showcase a strategy/plan that could be replicated elsewhere.
  • Added value: It can add clear value to not only the business but the sector more broadly.
  • Impact: The business proposal should aim to increase production, exports, quality of service or services offer filling a gap in the local, regional, or global market and employment creation. Backward and forward linkages within local value chains with potential to create also indirect employment will also be considered and monitored. Also, firms aiming to improve environmental practices through the introduction of environmental certifications/standards. Employment of women will also be taken into account.
  • Innovation: The startup wants to implement innovations such as the introduction of new technologies, a new approach, or a new process that can improve processes and products/services.
  • Feasibility: The startup can achieve results and finalize the implementation of the business plan within the duration of the project.
  • The solution must be cost effective with an expected high return on investment and a plan for how to ensure sustainable revenue beyond the support from the project.

Additional points will be given to:

  • Proposals that can empower women to create new businesses and/or have potential for increased employment of women and youth.
  • Proposals that are environmentally sustainable and reduce the negative impact on natural resources or the natural environment.
  • Companies with an ethos towards fair-trade, fight against climate change and protection of the environment, decent labour and anti-slavery in their supply chain, companies with corporate social responsibility.
  • Companies operating with informal businesses and willing to strengthen them to scale up and formalize.
  • Businesses that cannot access other sources of funding or already used other sources of funding to co-finance a business plan to scale up and are looking for additional resources to ensure the viability of financing without risking financial sustainability.
  • Firms with a maximum turnover of USD 500.000 or in the event that a company has profits that can justify the need for financing, which profits are between 10 and 20 percent of the turnover.

No companies linked with political parties and religious parties will be selected.

Project Phases

Phase 1: Call for proposals and Business Plan Preparation

Only firms complying with the Application Requirements will be considered for the first phase of the project.

Women owned and/or led businesses (WOLBs) applying to this first phase of the Project are not necessarily granted the access to the financial and technical assistance award. This initial call for proposals will accept a larger number of firms of which those selected on a first phase will receive a two-weeks training to prepare their business plan. These firms will then pitch their business case to the IM Fndng team. The award of the financial and technical support package will be granted based on IM Fndng’s decision.

In any case, firms that do not go through to phase 2 will receive orientation so they can present their business case to other projects if these are available.

Phase 2: Financial and Technical Assistance Implementation

Financial and Technical Assistance Implementation

Firms can apply for financial and technical assistance support for amounts between Euros 25,000 and 50,000. The allocation will be assessed by IM Fndng’s investment team in line with the intended objectives and business plan. All firms will need to co-finance with 10% of the awarded amount.

The financial award will cover the tailored technical assistance support that will allow the firm to implement the business plan and introduce new innovations. It is estimated that the technical assistance allocation will range from 5% to 20% of the grant but cannot be determined prior to the selection of businesses, if not to be less effective in the allocation of resources.

Winners interested in export related capacity building will be given priority admission into the World Bank Group’s export program with an expected specific training and support starting in June 2022.  

Start your application as a startup

Please fill out and submit your application before May 15, 2022. If you need some additional information before applying, please contact us at support@berytech.org.

Applications are now closed

Funded by the European Union

Implemented by Expertise France