Lebanon Businessnews News

USEK to launch startup accelerator
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The Asher Center for Innovation & Entrepreneurship (ACIE) at The Holy Spirit University of Kaslik (USEK) plans to launch a start-up accelerator later this year, according to Elias Abou-Fadel, the Head of ACIE.

Investment will be around $2.5 million over a seven-year period. The money will come through the Circular 331 process to fund accelerators, according to Abou-Fadel.

The accelerator is aimed at the USEK community which includes alumni, staff, and the students. It targets all industry sectors, not just technology.

The ACIE was launched in January of this year. Its aim is to coach early stage startups from the USEK community.

“The accelerator is the next step for the entrepreneurship center,” he said.

Abou-Fadel said that the center is contacting venture capitalists regarding equity investment.

USEK will offer startups on the program in-kind services such as coaching and mentors. They will be made up from professionals from different industry sectors.
Reported by Derek Issacs
Date Posted: Jun 02, 2017
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