GIMED: 4 green solutions move to the incubation phase in Lebanon
Out of the 20 initial projects, 10 start-ups showcased their ideas during a Pitching and Matchmaking event organised by Berytech, where 4 green solutions were chosen to join the incubation phase. The Pitching and Matchmaking event was an exciting opportunity for the selected start-ups to present their solutions to a jury of experts and meet with potential investors.
Therefore, the 4 selected finalists will receive additional support under the Green Applied Research & Innovations Support Program. In the context of the EU-funded GIMED project under the ENI CBC MED Programme, we have given these innovators and researchers the needed access to financing and networking opportunities. The 10 teams who pitched at the event had solutions in the fields of energy-saving, pollution prevention, waste recycling, green product designs, etc.
In addition, GIMED has supported them to develop their green business model to bring their innovation to the Mediterranean markets, contributing to a greener economy and more secure jobs, especially for women and youth. At this stage, after the evaluation of the jury members in the Pitching event, the 4 most promising ventures who will move to the next phase are:
- Lebanon Waste Management, a solution tackling the recycling of plastic and sand glass turning them into tiles and bricks.
- Sofra, a solution producing natural and biodegradable single-use plates and bowls based on citrus and garlic processing to replace single-use plastics in cutlery and packaging applications.
- Wave, a solution that aims to reduce commuting and pollution problems by introducing affordable electric bicycles, starting with a pilot in Beirut.
- Urban Hives, a solution producing a low-cost, lightweight, modular structure, erected above car height, providing a shaded area for parking beneath and garden space above.
The 4 finalists will benefit from 3 months of incubation support from Berytech as well as receive a grant of 7,500€ to be spent on technical and business support. They will also have scheduled regional and international events to secure business meetings, trade deals, and potential investments.
The Jury and Investors
Jury members Andrea Ruzo, Dominique Salame, Danny Maalouly, Alain Daou, Rani Al Achkar, and Joelle Atallah evaluated the businesses based on their value proposition, market needs, access to market strategies, environmental and social impact, innovation and technology, revenue model, financials and team.
The start-ups were also matched with potential local and international investors from France, Morocco, Lebanon, UAE, and Greece in one-on-one meetings on Zoom.
Start-ups presented an investment teaser prepared during their capacity-building sessions and received feedback to attract potential funding.