What They Do:
VerdeTech brings buyers and sellers in the solid waste management sector together under one roof using a simplified platform. They decided to build the platform to provide value to other businesses by building on their experience in the industry and expanding their model. Companies that participate in VerdeTech’s program will be able to benefit from a new form of financial support by selling their waste on the platform.
Startup Experience:
“The USAID DAWERR Clearinghouse program seemed to be very interesting for VerdeTech, as it aligned with our plans of expanding our business model and gave us more opportunities to explore the different aspects of the sector via the program.
Though VerdeTech requires a tailored software solution, the clearinghouse platform will be the optimal solution to bring traders together. Once the processes, systems and data are connected, traders will be able to optimize their operations via the adaptability, acceleration, and intelligence of the platform.
The main opportunities we are benefiting from are generated from the market’s oversaturation, putting VerdeTech in a unique standing with less competition. On the other hand, the main challenges being faced are the lack of funds needed to satisfy all customers.
The COVID-19 pandemic combined with the financial crisis and the persistent deteriorating situation in Lebanon have negatively affected our business, several ongoing projects have been being put on hold, other projects were halted due to financial losses generated from the massive devaluation of the Lebanese Lira, and team members leaving VerdeTech to better opportunities outside of Lebanon.
VerdeTech mainly emphasized on the recycling of electronic waste. However, the turning point of the business came when we decided to expand into all solid waste streams, for the big volume and financial turnover it can provide. The trainings offered by the USAID DAWERR program along with the one-on-one coaching sessions provided valuable support to our team. Receiving feedback from the experts on some of our ongoing projects was an opportunity for our team to gain the perspective of external individuals that are knowledgeable in the field allowing us to identify specific areas that need to be updated or further developed. In conclusion the program led the team to expand their abilities and capabilities to perform better making the development of the Clearinghouse a success.”
About DAWERR
The Diverting Waste by Encouraging Reuse and Recycling Activity (DAWERR) is a five-year activity funded by the United States Agency for International Development (USAID) that aims to improve the social, environmental, and economic well-being of Lebanese citizens by establishing sustainable solid waste recovery and diversion programs in collaboration with municipalities throughout rural areas in Lebanon. Learn more about DAWERR Activity: https://berytech.org/programs/dawerr/
