Lebanon Businessnews News

Bader launches the Startup Cup competition
Prizes offered with Bank Audi and Berytech
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Bader, a local NGO that supports young entrepreneurs, has launched the local edition of the ‘Startup Cup’, a competition to encourage entrepreneurial initiatives, in collaboration with Bank Audi. The Startup Cup is an international competition approved by the U.S. Kauffman Foundation, whose renowned programs support young entrepreneurs worldwide.

Bank Audi has signed a five-year agreement with Bader with a view to empower Lebanon's young active population and provide them with the right opportunities to achieve their goals. To be eligible to enter the competition, candidates should present an idea or business plan for a new project before April 30.

12 projects will be selected for the semi-final round on May 7. They will undergo training and monitoring for over a month. On July 30, seven projects will be selected to enter the final phase. Three winning teams will be selected at the end of the competition.

The Startup Cup’s prizes total more than $66,000, both cash and in kind.

The MIT Enterprise Forum for the Pan Arab region will invite the first winner of the competition to its annual startups workshops in March 2014. Berytech will host the three winning teams for free during a six-month acceleration period. The Lebanese Business Angels (LBA) will also choose to adopt or finance some projects.
Reported by Rana Freifer
Date Posted: Apr 02, 2013
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