Jusoor Launches its 3rd Annual Entrepreneurship Competition
Jusoor opened up registration for its third annual Entrepreneurship Competition. The competition is open for application submission until March 24th for all Syrian entrepreneurs who want to develop their idea, acquire skills in entrepreneurship, prepare for accelerators and seed investors, and win financial prizes.
The competition is comprised of three phases. The first phase shortlists all applicants according to selection criteria. The 15 shortlisted teams will continue to the second phase and join the Jusoor Entrepreneurship Bootcamp in Beirut from April 2nd to 7th. In the final phase, teams will present their projects in front of a panel of judges who select the 3 top winners, on April 8th. The three teams will win financial prizes to launch or support the development of their projects.
The competition is open to projects in any field with a focus on social and economic development ideas that provide solutions to a problem. In order for the teams to be eligible, at least one of the members must have resided in Syria, and the project must be in the ‘seed’ stage, meaning that the team demonstrates the existence of a track record of performance to prove the potential of their project. The startup should not require funding beyond $10,000 for a period of 6 months of operations. In addition, the project should show potential growth that is measurable and able to scale. The team should be also able to offer a clear model of revenues and profits. In the case of nonprofit projects, the teams should be able to show clear sustainable impact resulting from their venture.
Jusoor has partnered with well established corporations that believe in support of the Entrepreneurial community as well as partners from the industry providing professional support to complement the Bootcamps. This year’s partners include Wamda, ArabNet, STEP2017 Conference, Beirut Digital District and Techfugees.
Fadi Ghandour, the Cofounder and Executive Chairman of Wamda shared, "I am very excited for Wamda to be part of the Jusoor Entrepreneurship Competition. Supporting entrepreneurship is what we do at Wamda, and supporting Syrian entrepreneurs specifically is important for us because in our view it helps the next generation heading back to rebuild Syria, and that takes entrepreneurship.”
The Jusoor Entrepreneurship program launched in 2014 to further develop the skills of Syrian youth and help them realize their potential. Jusoor announced its establishment of the first Entrepreneurship Competition in December of 2014, which opened the door to the founders of Syrian startups to present their ideas and compete for the financial rewards to fund their ventures. Up to date, Jusoor incubated 56 Syrian startups from different parts of the world.