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Three initiatives to support creativity and SMEs

1-12-2017

As part of its support to small and medium enterprises in Lebanon, Fransabank Group announced on Wednesday the signing of a USD 20 million loan agreement with the SANAD Fund for MSME to expand the lending to SMEs with competitive pricing and provide loans to low-income individuals. On the other hand, Touch, the leading mobile telecommunications and data operator in Lebanon, managed by Zain Group, disclosed on Wednesday its partnership with the Maroun Semaan Faculty of Engineering and Architecture (MSFEA) at AUB to launch the Touch-MSFEA Startup Award. The aim of the award is to encourage a culture of entrepreneurship among university students, in particular the 4th year engineers approaching graduation and who have innovative projects and ideas ready in mind. Commenting on the partnership, Touch CEO, Emre Gurkan, pointed out the award is a translation of Touch’s innovative digital strategy targeting Lebanon’s young talents. The main goal of the program, Gurkan stated, is to motivate students and give them the opportunity to learn about what awaits them in the labor market after graduation. Seven teams from Batch 1 have moved into phase three of the Agrytech Program, Lebanon’s Agri-Food Innovation Hub, the first in the region and jointly funded by the Embassy of Kingdom of Netherlands and Berytech. The selected finalists will receive USD 22,000 in matching capital, based on innovation, scalability, financial return and the complete team. (Al Mustaqbal, Al Diyar, November 30, 2017)

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