The Rise of Young Entrepreneurs

Nov 9, 2017

Thriving to inspire a culture of entrepreneurship and innovation, the flagship entrepreneurship program of INJAZ Lebanon: the Company Program, was delivered over a period of four-months throughout seven schools and three universities across Lebanon, all thanks to our committed volunteer mentors. The program culminated in the Young Entrepreneurs Competition (YEC 2017), that took place under the patronage of Banque du Liban (BDL) at the American University of Beirut (AUB) on 23 September, 2017.

At the end of an adrenaline-filled day, two teams were announced as the winners: the Ayadi team from Saint Joseph School and the Innovating Green Technology (IGT) team from the American University of Beirut (AUB) won the Best Company Award from the school and the university tracks, respectively. Both teams went on to represent Lebanon at the regional Youth Entrepreneurship Competition held in Cairo, Egypt two months later.

The PineCo. team from Maroun Abboud Public School and IGT won the Most Innovative Products awards from the school track and university track, respectively. Projects from the Ayadi team from Saint-Joseph School and the Find A Nurse team from the AUB and the Lebanese American University were selected as Best Social Impact projects from the school and university tracks, respectively. Balamand School’s The Golden Age team won the award for Best Team Spirit across both tracks.

Mr. Khaled Bohsali, Director of Foreign Affairs at BDL, commented on the competition saying: “BDL has been thriving to reverse the trend of Lebanon’s university graduates leaving the country to look for jobs elsewhere. We know Lebanon has the human capital and talents required to develop a startup ecosystem and support the growth of the country’s economy, it just lacked the financial support, and here is where we stepped in with the creation of BDL circular 331 in 2013, enabling equity financing in the financial sector (through banks, Venture Capitalists, accelerators and incubators). Our collaboration with INJAZ Lebanon highlights our commitment to support the success of Lebanon’s youth and the growth of our nation.” 

        

 

 

Team Ayadi provides a web platform that facilitates volunteering and community service.
The platform links volunteers and donors with charities, NGOs, municipalities, and groups
in need of volunteers.

 

 

Team Innovating Green Technology - IGT aims to solve energy problems so
we can move towards a greener and more efficient society. The team starts with
tackling solar water heater problems through their innovative product “PRO-Shield”.

Based on the results of YEC 2017, The two teams represented Lebanon and competed against other teams from 13 Arab countries at the INJAZ Al-Arab’s Regional YEC, which took place in Egypt this November 2017. INJAZ Lebanon team's story did not stop here. IGT came back to Lebanon with TWO Awards from the Regional YEC competition. The team won MBC Hope Elevator Pitch Award and Best Product of the Year Award by Pepsi Co. 

A special thank you goes to everyone who made the YEC happen. The YEC was held under the patronage of Banque du Liban (BDL), with the support of our Event Partners; AUB Center for Civic Engagement and Community Service, Diffa Group, Entreprenergy, and Limitless Lab. Of the other partners of YEC, thank you Band Industries, Beytech, Creed Capital, Diffa Group, FabricAID, Lebanese League for Women in Business | LLWB, PwC's Academy Middle East, RDCL, and Tania Kassis Voice Academy. The Abdallah Lahoud Foundation supported our Company Program at the University level, and Demirdjian Global, Fattal Group and Kurban Group supported our Company Program at the School level. 

Thank you to our esteemed panel of judges: Mr. Khaled Bohsali, Executive Director Foreign Affairs Department at Banque du Liban; Mr. Ramy Boujawdeh, Deputy General Manager at Berytech; Mr. Sami El Khouri, Senior Associate at Creed Capital; and Ms. Dania George, Senior Manager at PwC Academy & Board Member of the Lebanese League for Women in Business. 

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