Beytech’s ScaleSmart Investment Readiness and Scale-up Program launched its first batch of onboardingfive startups spanning over various sectors. The event took place over two days where 12 shortlisted startupspitched their ideas in front of a rotating panel of business development experts, investment specialists andentrepreneurs. Following an internal selection round from the ScaleSmart team, five startups out of the 12shortlisted were selected to participate in the program. The selection was made based of various criteria ofwhich scalability, market traction, innovation and potential for investment. The selected startups will go throughthe ScaleSmart program which offers specialized mentorship, advisory and linkages to fundraising which inturn helps the teams scale their businesses.  The five startups that were selected to participate in the first batch of Berytech’s ScaleSmart Program were: 1- “Ajjerni”, the first peer-to-peer rental marketplace in Lebanon. The platform enables users to rent items to and from other users. This ranges from electronic equipment, musical instruments, hiking and camping gear, office equipment and venues among other things. The platform currently holds 20 different categoriesincluding a category for free items and giveaways. 2- “Brighter Energy”, a Software as a Service (SaaS) platform which aims to assist small companies and entrepreneurs who lack the engineering resources in the installation of solar Photovoltaic (PV) panels. The platform enables users to get leads, qualify them, prepare proposals and offer users full transparency and accountability for the installation process. 3- “Little Melly”, a startup with the aim of making fresh and additive-free baby food and making it accessible to parents. The meals are catered to babies through a subscription-based model as well as retail sales.  4- “Kudwa Technologies Ltd.”, a SaaS startup regulated in the UAE by the Dubai International Financial Center which offers a planning and analysis tool for users. The tool enables users to automatically integrate their financial systems with the software’s plug-and-play model, receive real-time dashboards and crucial metrics, forecast using the modeling tool and out-of-the-box templates as well as receive insights with scenario planning and machine learning . 5- “Book-ink”, a SaaS platform which facilitate tattoo artists’ daily operations and booking processes through the automation and digitalization of the process. Additionally, the platform offers an interactive marketplace which connects suppliers, artists and customers globally.  The aforementioned startups will receive comprehensive support in various important areas. This is done to aid them in preparing for a successful investment journey. The program will offer close coordination between the startups and the specialists in order to establish their data rooms, valuate their businesses, connect them to top-level executives from around the world and help them create a strong investment pitch deck.  Concurrently, the founders of the startups will be trained to develop the necessary skills for the planning of their company’s fundraising path and the successful negotiation with different investors. Additionally, the startups will be connected to investors through events and personalized matchmaking opportunities.  According to the Accelerator Manager at Berytech, the aim is to bridge the gap in matters of fundraising which stunts the survival and scaling of seed and pre-seed startups in Lebanon through the ScaleSmart Program.Effort is going towards equipping the entrepreneurs with the tools and guidance required to increase theircompany’s traction and allow them to have increased readiness and confidence when communicating withpossible investors.  It is worth noting that ScaleSmart is a program that operates under the ACT Smart Innovation Hub Initiative.  The aforementioned initiative is co-funded by the Embassy of the Kingdom of the Netherlands in Lebanon.The main objectives of the program is to promote sustainability and growth of startups, the creation of jobopportunities for the country’s youth as well as help in the revitalization of the local economy in Lebanon.According to a Financial Inclusion Expert Consultant, many entrepreneurs with valuable ideas often miss thetechnical support to commercialize their idea, become investment ready and develop their strategy.  (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 10-16 July 2023