USAID program to support start-ups in Lebanon

Insure Match Capital (IM Capital) launched last Friday the Confideo Venture Mentoring project at the Four Season Hotel in Beirut in the presence of the Director of USAID Office of Economic Development in Lebanon, Cybill Siglar and Berytech Chair, Maroon Shammas, General Manager of IM Capital, Nicolas Ruhana and other concerned figures. This program comes as part of the Middle East and North Africa Investment Initiative (MENA II) funded by USAID to help steer startups in Lebanon as they grow and support them to attract additional capital. The program is also co-funded by the World Bank through the Early Stage Innovation Financing initiative in Lebanon. The above program is based on the Massachusetts Institute of Technology Venture Mentoring Service (MIT VMS) which has succeeded over the past 16 years in helping entrepreneurs build their skills and bring their innovations to the market, as well as developing their capacities. During the launch ceremony, Shammas underlined the importance of mentoring and guidance for entrepreneurs as it plays a pivotal role in introducing the required skills at an early stage of their business development. For her part, Siglar encouraged participating entrepreneurs to enroll in the said program which she said is a valuable resource for building success. (Al Mustaqbal, November 19, 2016)