Bader launches second round of Startup Cup

Competition to grow jobs and stimulate
entrepreneurial activity

Bader, a local NGO that supports entrepreneurs, has launched the second edition of the ‘Startup Cup’, a competition to encourage entrepreneurial initiatives, in collaboration with Bank Audi. The Startup Cup is an international competition approved by the U.S. Kauffman Foundation.

The Bader Lebanon StartUp Cup Business Model Competition is designed to stimulate entrepreneurial activity, grow jobs through startups, and increase awareness of the resources available to grow entrepreneurship in the local market.

Eligible models must be an innovative idea for a business. All teams should have at least one Lebanese member and projects should be based locally.

The deadline for submissions is April 30, 2014. Judges will select the semi-finalists who will be notified on or before June 2, 2014. The judging panel will evaluate the plans on the basis of: Innovation, scalability, and job creation.

The three winners will be determined from all eligible entrants, and announced on November 19. They will receive the following prizes: The first place winner will get $13,000, the second $4,500, and the third $2,000.

In-kind prizes include: Potential investment from Bader’s Business Angels, a scholarship to attend the MIT Enterprise Forum Pan Arab workshop in May 2015 and benefit from global experts, networking opportunities, and regional exposure. Winners will be offered a free hot desk at Coworking+961 for six months. Amideast offers 50 percent and 33 percent scholarships for the winning teams to attend the Start/Grow My Business Workshop. Eastline Marketing offers $1,500 worth of online marketing consultancy for each of the three winners.