Do you have an innovative business idea and you need support to develop it and help it grow? This competition is for you!
Calling all entrepreneurs, start-ups, and MSMEs in Lebanon with innovative business ideas to apply for UNDP’s competition, in partnership with Germany through KfW.
This competition aims to support local business’ stabilization, development, and growth amidst the challenging socio-economic crises through capacity building and financial rewards.
A total of 30 shortlisted applicants will benefit from valuable skills and knowledge through business incubation and training, out of which 15 will be selected to receive a cash grant of USD 25,000 based on a set business plan.
If you meet the criteria listed below, apply now:
- Sole entrepreneur, start-up, or owner of an MSME
- Operates within one of the following sectors: Agriculture, agro-food, light manufacturing, rural tourism, solid waste management, energy, water and wastewater, industry, and transportation
- Can present an innovative and feasible business idea to resolve a challenge or improve the sector’s performance
- Has completed the initial research and analysis to test the viability and sustainability of the idea
- Embraces a vision for growth and development
- Commits to capacity development and preparations before and after the competition
Submission Deadline: 27/04/2022
Phase 1: Incubation, support, and tailored training for 30 businesses
Phase 2: Pitching event
The 30 shortlisted businesses will present their ideas in front of a jury comprised of business experts, UNDP, and donor representatives for a chance to win USD 25,000
Phase 3: Additional coaching and follow-up for the 15 winners
Lebanon’s economic and financial crisis, coupled with the impacts of the COVID-19 pandemic, have severely affected all sectors particularly entrepreneurs, start-ups, and MSMEs facing unfavorable funding conditions, lack of human resources, and operational difficulties amongst others.
UNDP has leveraged ongoing programmatic platforms to support the stabilization of the micro-business environment and respond to the growing needs of the population. Since 2020, as part of the COVID-19 socio-economic response, and with funding from Germany through KfW, UNDP has supported more than 300 MSMEs/Cooperatives and 2,000 farmers through various interventions including the provision of equipment and tools, support with human resources to reduce the cost of production, and the provision of technical and managerial training to support business growth and development in the longer term. These interventions have helped businesses restart their operations and incentivized them to maintain and expand their production.
Within the recovery efforts, UNDP continues to create a supportive ecosystem for entrepreneurs, startups, and MSMEs struggling to weather the challenging storm, and places local businesses at the forefront to lead and transform the Lebanese economy towards a more productive model.