Lebanon Businessnews News
 

Focus on renewable energy and creative industries
Funding opportunities for renewable energy innovations
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Beryetch Fund II will officially begin operations by the end of this year, said Paul Chucrallah, Managing Director.

The fund was announced last year. It is expected to have a capital of $25 to $35 million. It will invest in innovative startups and SMEs, particularly in renewable energies, digital content, movies, music, industrial design, fashion and accessories.

According to Chucrallah, “Berytech Fund II will value and support renewable energies focusing on original research and development and innovation adaptation to local environment.” This would include renewable energy distribution and storage projects. “We are interested in new business models,” he said.

Through this fund, Berytech will invest in 25 ventures over a four-year period. There are already 20 prospects, four of which are in the renewable energy industry. The average investment is expected to be around $1 million per company. “We are able to provide incubation, acceleration, and assistance for any company requiring our help.”

Berytech Fund I was founded in 2008, with over $6 million under management. It is part of an investment eco-system focused on enterprise development, which began in 2002 with the establishment of Berytech Technology Pole, the first technology incubator in the country. Fund I investments range from $100,000 to $1.2 million per transaction and includes management, technical and marketing support.
Reported by Rana Freifer
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Date Posted: Oct 01, 2014