IDAL Supports Start-Ups & Entrepreneurs in Technology, Media
As part of its strategy to support the growth of the Media sector which has been identified in Investment Law No.360 as one of IDAL’s key priority sector in terms of its potential to attract investments, the Investment Development Authority of Lebanon (IDAL) sponsored a 4-day workshop titled “Intelligent Creativity Professional Development Program” aimed at fostering the skills of film festivals and cinema managers, needed to boost the sector competitiveness . This workshop is an initiative of the Beirut Creative Cluster (BCC) and the British Council, which culminated in the official launch of the BCC on April 2.
IDAL sponsored in collaboration with the Central Bank an event organized by the Business Incubator Association in Tripoli (BIAT) titled “Success Stories from North Lebanon” at the Chamber of Commerce in Tripoli.
The event showcased success stories and the support entrepreneurs can receive from the various government agencies. Support that IDAL can offer to start-ups include: (1) Business Linkage Program, which helps Lebanese companies involved in the ICT sector identify new regional and international markets through establishing links with foreign companies looking for partners to outsource the development of all or part of their services; (2) Business Matchmaking Services that connects local and foreign investors with Lebanese entrepreneurs or SMEs seeking financing though IDAL’s extensive network of private investors, venture capital firms and angel investors, (3) Fiscal incentives including exemption on corporate income tax for a period that can run up to 10 years, along other services.
Along the same objectives, IDAL will sponsor the North Lebanon Start-Up Weekend on April 26 organized by the Center for Entrepreneurship at the Beirut Arab University and Start Up Weekend. The aim of this event is to teach and promote entrepreneurship in local communities. It will bring developers, designers, marketers, product managers and startup enthusiasts together to share ideas, form teams, build products and launch startups. North Startup Weekend will begin with open-mic 60-second pitches that result in the formation of small teams around the best, most viable concepts and receive valuable feedback from a panel of experts
Finally, during this month, IDAL sponsored the Seeqnce Investors’ Circle launch of the Lebanese Startups Roadshow, a Seeqnce-organised multi-city tour that will see 7 globally competitive start-ups meet and pitch to top experts and investors in ICT in key cities including Beirut, Dubai, Istanbul, Paris, San Francisco, New York, DC, and London as part of its mission to highlight investment opportunities in Lebanon.
The Lebanese Startups will be pitching to leading investors, high-net-worth individuals, key stakeholders, and press from Lebanon and the Arab World. IDAL along with Bank Audi are exclusively sponsoring this event which will hold over 100 high calibre individuals from various disciplines.
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