New US-funded program supporting Lebanese individual investors

As part of the MENA oriented investment projects funded by the US Agency for International Development USAID, the Insure Match Capital (IM Capital) fund to support entrepreneurship in Lebanon launched recently its Seeders Masterclass for Business Angels (Seeders- MBA) program targeting individual investors. The event took place in the presence of the USAID director in Lebanon, Dr. Ann Paterson, and the participation of government representatives, business owners and entrepreneurs, investors, bankers, representatives of the private sector and involved associations, as well as deans of universities and members of chambers of commerce and business incubators. The initiative, the first of its kind in Lebanon, aims at providing technical assistance and support and improve access to finance, competitiveness and revenue growth for small and medium enterprises and startups. This helps in the empowerment of developing companies as per the creation of business opportunities, hence ensuring their sustainable social development and promoting economic growth of the nation. The selected group of investors are expected to hold a meeting every 6 to 8 weeks during which 2 or 3 SMEs will present an idea. By the end of the program, investors would have financially supported 3 to 4 ventures by pumping in projects USD 50 to 100 thousand for each. On the occasion, IM Capital general director, Dr. Nicolas Ruhana, made clear that the yearly program is anticipated to grow seeds of an informed and effective investors’ community that will eventually become an independent player in the Lebanese entrepreneurship arena. The World Bank also contributed to the program which is to be repeated every year. (Al Diyar, July 14, 2016)