Expat entrepreneurs relocate startups home

Berytech offers incubation through French program

Berytech is incubating four startups by Lebanese expatriates in their relocation to Lebanon, as part of the Innovative Enterprises Creation and Incubation Program for the Mediterranean (PACEIM).

“The program aims at encouraging expatriates to start up their business in their home country, in the Mediterranean region,” said Krystel Khalil, Program Manager at Berytech. The program is funded by the French Research and Development Institute (IRD). It targets Lebanese, Algerian, Tunisian, and Moroccan PhD graduates and post-doctorate students living mainly in France.

The four startups were chosen earlier in the program and each was awarded €35,000 worth of support to relocate to Lebanon and implement their ideas. Most projects were science and technology oriented. These companies are currently in an incubation phase.

Berytech and the startups attended a PACEIM workshop in Marseille, France, on September 5-6. It included intensive and interactive sessions aiming at strengthening participants’ business models, financial and marketing strategies, and pitches to investors.

Partners in the project, including Berytech, also presented their platform, support program, and facilities for entrepreneurs looking to startup in their home country.

According to Khalil, several highly skilled expatriates are willing to initiate their small business here in Lebanon, if they get the appropriate support. “Berytech is part of the European Business Network, which offers a very good support to those candidates.”

Another edition of the program will be announced for 2014.