Innovation center
to launch in Amchit

Berytech and Michel Issa Foundation join forces

Berytech and Michel Issa Foundation for Local Development (MIF) have signed a memorandum of understanding to create a Business Innovation Center in Amchit, Jbeil area. The center will launch in fall in 2018.

The center, which has yet to be built, will be an interactive community with a space exceeding 3,000 square meters located on the Amchit highway. It will open on a 24/7 and 365 day-a-year basis.

It will contain co-working spaces, open networking space, meeting and conference facilities, small, medium, and large flexible offices.

The center expects to have a total occupancy capacity of about 300 people. These will include 30-40 project holders and freelancers, 15 early stage startups, ten growth phase startups and five established small and medium-sized entities (SMEs).

According to Ramy Boujawdeh, Deputy General Manager of startup hub Berytech, it will also include an anchor tenant.

“This can add value to our ecosystem and community,” he said.

Entrepreneurs will be provided with business development services to grow and scale, and to help them access funding, and scale internationally.

Maroun Chammas, CEO of Berytech, said the center will promote entrepreneurship and job creation, as well as focusing on the ICT, smart agri-food, renewable energy, ecotourism, and social entrepreneurship sectors.

Tony Issa, Chairman of the Michel Issa Foundation for Local Development (MIF), said the project will address the economic needs of the Kesrouan, Jbeil, and the northern cazas.

Stakeholders are still working on the project’s details concerning the investment amount which has not been finalized yet.