BADER Launches Lebanese Version of the Startup Cup in Cooperation with Bank Audi
The BADER Young Entrepreneurs Program announced that it is launching the Lebanese version of the World Startup Cup in cooperation with Bank Audi, and revealed that about 100 million LL are earmarked for prizes, both cash and in kind. BADER called on entrepreneurs to register for the competition by April 30 at the latest through the website www.baderlebanon.startupcup.com.
BADER issued a statement explaining that the Startup Cup is a global program globally recognized by the Kauffman Foundation, which is a renowned organization promoting entrepreneurship worldwide. This program is in direct connection with the Global Entrepreneurship Week, a worldwide celebration of entrepreneurship in 150 countries.
According to the statement, “Lebanon will be the second country in the region to organize the Startup Cup, BADER having been granted the license to do so in January 2013. The statement stressed the generous financial support provided by Bank Audi and BADER’s strategic partners to organize this competition, namely the Lebanese Business Angels (LBA) which may adopt and finance some projects, the MIT Enterprise Forum for the Pan Arab Region which offers the winner the opportunity to take part in the annual MIT startups workshop in March 2014 and to benefit from the expertise of regional and international lecturers, and Berytech, the headquarters of which houses the three winning teams for free for a six-month period.” Media partners Entrepreneur Levant Magazine and Naharnet will be contributing to Bader StartUp Cup as well. Entrepreneurs Levant will be offering editorial coverage for the winners while Naharnet is generously offering worth of $20,000 in online advertisement for the 3 winning teams. Eastline Marketing, leading Lebanese online marketing firm, will be offering $4,500 worth of online marketing consultancy while Cisco Entrepreneurs Institute offers discounted scholarships to its workshops for the winning teams. Geek Express will be helping Bader host StartUp Cup events and coaching sessions at its premises. Other supporters on Bader StartUp Cup include Business Community Partner, Executive Magazine.
H.E. Mr. Robert Fadel, BADER’s President, seized the occasion to emphase “the importance of this competition, which grants Lebanese entrepreneurs an international exposure, especially since it is linked to the Kauffman Foundation and the Global Entrepreneurship Week. This and other competitions and activities organized by BADER are of key importance for generalizing the concept of business entrepreneurship and encouraging youths to become entrepreneurs and to turn their dreams and ideas into concrete projects. Ever since the inception of our group about seven years ago, our role has been to hold the hands of young entrepreneurs while they are taking their first steps, whether with regard to financing, training or coaching, and to allow them to achieve their desired objectives.”
Fadel went on saying that “the development of entrepreneurship and support for startups and SMEs is a main engine of growth upon which all states have come to count. This is what BADER has been focusing on for years.”
Mr. Marc Audi, General Manager – Country Manager Lebanon – Bank Audi sal - Audi Saradar Group, praised BADER’s pioneering role in encouraging new businesses and ventures, saying: “BADER rose to prominence thanks to its serious projects and its achievements, especially to the benefit of Lebanese youths. In parallel, Bank Audi is always pleased to contribute to any joint effort to the benefit of providing these youths with the best possible future. Our cooperation with BADER Group aims to support young entrepreneurs and promising employers. This is an additional indicator that our five-year cooperation agreement will materialize in the growth of even more startups which will be able to operate with a greater potential.”
BADER’s statement explained that “unlike any other competitions, the Startup Cup showcases ideas or business plans, as it is based on the plan that the entrepreneurs will adoptto generate revenues. Its basic principle is to urge youths to learn from their failures and amend their modus operandi, thus making them realize that it is better to fail and adjust their errors early. The competition gives participants a chance to connect, mingle and learn continuously over a six-month period before they start out in real life. Entrepreneurs are rewarded for going to the market, securing customers and generating revenues. The best businessmen in the country will be joining as coaches, trainers and judges.”
The 12 semi-finalists will be selected out of all business models on May 7. Between May 17 and July 25, those selected will undergo a first phase of coaching and training, following which the 7 finalists are to be selected on July 30. Phase 2 of coaching and training will take place from August 1 to November 5 with the final pitch on November 12. The names of the three winners will be announced on November 19 during Networking 961 within the framework of the Global Entrepreneurship Week (GEW).
BADER calls on those interested to obtain more information on participation conditions and to submit requests and business models on:
Facebook: BADER Lebanon
Twitter: @BADERlebanon #BADERStartup Cup
E mail: startupcup@BADERlebanon.com
It is worth noting that the criteria based on which projects are accepted and rehabilitated are the idea behind the project, its creativity and its capacity to expand and provide job opportunities in Lebanon.