Berytech announced the launch of the ScaleSmart program for a period of four years.  The program tackles investment readiness and scale-up for pre-seed and seed startups in Lebanon.  This is done through the bridging of the funding gap in startups and also equipping them with the tools and the know-how essential for the planning of a viable fundraising path and the scaling up of their ventures.  The program was funded due to the difficulty faced by early-stage startups in the country to access necessary funds for their development.  ScalesSmart program will provide pre-seed and seed startups across all sectors with specialized training and mentorship.  It is worth highlighting that the program is part of the ACT Smart Innovation Hub, a cooperation between Berytech and the Embassy of the Netherlands.  The initiative was initially in 2019 and renewed in 2022.  Berytech's aim through this project is to help startups grow and sustain their operations in order to contribute to job creation for the country's youth.  The program will in turn support 20 pre-seed and seed startups over a period of 4 years.  This move is seen as essential support for high growth potential startups to scale successfully and for the growth of the local economy as well, as per the COO of Berytech.  Experts will work with participants to build their data rooms and valuate the startup.  The creation of a robust investment pitch deck and the linking of startups with senior executives from Lebanon, the Netherlands and internationally will also be tackled during the program.  These are among the various types of support that ScaleSmart will offer the startups.  The program will cover all sectors in the country with a focus on impact creation with 5 participants in each cycle.  Startups must be a pre-seed or seed level, legally registered or in the process of registering, should have a valid Go-To market strategy, should have a multidisciplinary and complementary team as well as being partially or fully operated in Lebanon to qualify.  Also, a clear need for funding must be present as well as a tech-enabled or science-based product or service with an environmental or social impact are necessary to participate in the program.   (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 27 Feb. - 5 March 2023