Start-up cluster
to launch in Hamra

Financial support provided

by Indevco’s Neemat Frem

The Olive Grove, a collaborative open space containing incubators, a boot camp, and dedicated hot desks, will launch at the end of June in Hamra. Neemat Frem, CEO of Indevco Group will invest in the project on a gift and loan basis. The amount has yet to be decided.

The owner and manager of The Olive Grove is Anna Medearis, an individual entrepreneur.

According to Georges Bassous, Chief Strategy Officer at the Olive Grove, the space will be dedicated to small and medium size businesses (SMEs) and startups looking to build up their product before moving to an accelerator program.

It will also act as a landing space for those startups that have just been accelerated and are looking for an office from which to operate.

“The differentiator is we don’t take any equity,” he said.

Mentorship support will be provided by Brian Watson from Northstar Commercial Partners, a U.S. commercial real estate investment company. It will provide support as a philanthropic endeavor.

A boot camp will also be available. It will be facilitated by Co.Starters, a U.S. cohort that will provide a nine-week business program on the insights, relationships, and tools needed to turn ideas into action.

Office prices will range between $450 and $1,200 a month and dedicated hot desks between $150 and $250.