Lebanon Businessnews News

SouthBIC launches SME support program
ICT start-up award to offer incentives
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The South Business Innovation Center (SouthBIC) will collaborate with the Chamber of Commerce, Industry and Agriculture in Saida and South Lebanon (CCIAS) and the Federation of Tyr Municipalities to support entrepreneurs and promote growth of micro, small and medium sized Enterprises (MSMEs).

Andraos Bacha, Director General of SouthBIC, said they have already joined 60 municipalities, and aim to support at least two projects from each municipality. He said dealing with municipalities facilitates work in rural areas. “We plan to sign agreements with more municipalities in the South to broaden our outreach and increase entrepreneurship opportunities for start-ups.”

SouthBIC is the only institution in the South offering incubation and counseling services to MSMEs from various sectors. It operates with a yearly budget of €300,000 (around $396,000) provided by the European Union. SouthBIC currently hosts 45 start-ups.

Bacha said that they will be soon announcing an ICT start-up award to offer incentives and business drivers to young entrepreneurs in this innovative field. “We are bringing this opportunity to youth in the South so they wouldn’t have to relocate to Beirut to benefit from the infrastructure and services.”

SouthBIC is currently working closely with Berytech on a joint venture for the South, targeting start-ups in innovative industries.
Reported by Rana Freifer
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Date Posted: Jul 24, 2013