New advisory programme links SMEs with researchers and developers to fuel innovation
- EBRD kicks off activities under a new innovation programme in Lebanon
- New five-year programme to focus on innovation as a key lever of growth
- Panel discussions bring together the private sector and researchers
The European Bank for Reconstruction and Development (EBRD) has held three sectoral meetings, bringing together companies and researchers to explore opportunities for collaboration, as part of a new innovation programme in Lebanon.
More than 200 representatives of the business community, including small and medium-sized enterprises (SMEs), researchers, university professors, business associations, research institutions, industry groups and the media, attended a three-day event at the Gefinor Rotana Hotel in Beirut.
Funded by the European Union (EU), the new innovation programme offers SMEs and start-ups grants to work with researchers to develop their products and processes, and boost their competitiveness and innovation.
Panel discussions examined the role of research and development in enhancing innovation in sectors ranging from agribusiness to the creative industry, as well as their value chains. The panellists highlighted cases of fruitful and successful collaboration between researchers and the private sector and discussed the key role that research and development can play in supporting companies.
Networking lunches followed the panel discussions with a view to encouraging a culture of collaboration and cross-fertilisation of ideas and approaches between actors in the Lebanese innovation ecosystem.
The new five-year programme will focus on innovation as a key lever of growth, helping SMEs compete on the international stage, increase their market share, create more jobs and support Lebanon’s economic recovery.
The Bank will deploy EU funds to help SMEs and start-ups connect with research and development institutions and innovate in their products and processes. As part of the innovation programme, companies will have access to grants to support the research and development needed to innovate products and processes, as well as subsequent advisory services to implement those innovations.
Particular attention will be paid to the key sectors of the Lebanese economy: agribusiness, healthcare, pharmaceuticals, cosmetics, information and communications technology, the creative industry and their value chains. Priority will be also given to projects that further the EU’s and EBRD’s strategic objectives on the cross-cutting themes of transition to a green economy, equality of opportunity and digitalisation.
The programme builds on the success of the first phase of the EU-backed Advice for Small Businesses programme in Lebanon, which was launched in 2018. To date, it has helped almost 200 SMEs access the critical know-how they need to address market challenges and boost their productivity and turnover.
The Bank has 25 years of experience in engaging with SMEs across its regions and supporting their growth and development with access to expertise and financing.
To date, the Bank has invested €848 million in Lebanon, with a focus on supporting private-sector competitiveness, promoting a sustainable energy supply and enhancing the quality and efficiency of public service delivery.