Beirut, 27 December, 2019: In a joint effort to enhance the business opportunities between high-impact entrepreneurs and Lebanese investors and strengthen the ties between the local entrepreneurial community and the network of Lebanese business diaspora, Endeavor Lebanon and Lebanese International Finance Executives (LIFE) organized a speed mentoring session targeting 15 high-growth companies.
The initiative seeks to bridge between the high potential of Lebanese scale-up companies and the opportunities for growth beyond the local market.
Through the active involvement and shared expertise of the LIFE global business network, the focused networking discussions aim to actively support Endeavor Lebanon network companies
with business introductions and mentoring opportunities.
Held in Beirut Digital District, the sessions featured 40 expert and specialist mentors from LIFE network. Participants were divided into work groups, each of which comprised one Lebanese company and three of LIFE’s specialist mentors.
The groups focused on ways to confront the challenges faced by these scale-up companies in light of the present economic circumstances in Lebanon. Sessions highlighted the significant role of such companies in catalyzing the local economy, particularly given the fact they generate 60% more revenues and jobs on average than small and medium-sized local firms.
The format of this event allowed companies to interact directly with LIFE participants who shared their global experience and outlook reflecting on the companies’ plans and challenges; particularly with regards to means of attracting capital and scaling by developing expansion prospects outside the country.
The companies participating from within the Endeavor Lebanon network included: Arabnet, Band Industries, Commercial Insurance, Flyfoot, FOO, Hedgeguard, HiCart, Neotic, NymCard, Royal Gourmet, SE Factory, Synkers, Topotrade, Toters, Zima.
“Today, Lebanon’s dim economic outlook poses a range of new challenges on these Lebanese scale-ups. Hence our constant endeavor to pave the way for new openings that ensure continuity of this most active economic engine for the multiplier impact it generates,” said Endeavor Lebanon’s Managing Director, Christina Chehade in her opening remarks, hoping that “this form of networking would engender new avenues and draw on a wide range of perspectives for the growth to our Entrepreneurs,” she added.
In turn LIFE Board member and Chair of the Promote pillar, Paul Raphael said “We are delighted to avail our global network towards mentoring local enterprises and create investment and employment opportunities and most importantly access to international markets. We believe in Lebanese human capital and we are committed to promoting the Lebanese brand equity beyond the borders of Lebanon.”
About Endeavor Lebanon:
Part of the global Endeavor network founded in 1997, Endeavor Lebanon was launched in 2011 with the same mission of selecting, accelerating, and cultivating high-growth scale-ups.
As a non- profit organization, Endeavor Lebanon supports high-impact entrepreneurs to catalyze their long-term economic growth and helps them maximize their potential by leveraging their network of experts and mentors and providing them with talent programs and introductions to capital.
Since its launch, the Endeavor Lebanon office has selected 40 high-impact entrepreneurs from 31 companies. These entrepreneurs have managed to generate more than 260 million dollars in revenue in 2018, growing 275 percent, and employing more than 2,300 people.
About Lebanese International Finance Executives
LIFE is a worldwide membership organisation of
Lebanese professionals based in the diaspora, funded by membership fees and by
individual and corporate donors.
LIFE was founded in 2009 with the aim of providing a platform to channel the
influence of Lebanese executives active in fields related to finance worldwide
through its three pillars:
CONNECT: Establish
stronger bonds among Lebanese executives active in fields related to finance
(Finance, Fintech, Finance Consulting, Corporate Law and Real Estate)
NURTURE: Help the next generation succeed in the fields
related to finance
PROMOTE: Act as the bridge between LIFE and Lebanon’s public
and private sectors, channelling LIFE’s expertise and influence
towards the development of the Lebanese economy.
LIFE currently boasts over 1000 finance professionals across 11 chapters in Australia, Canada, France, Hong Kong, Lebanon, Singapore, Switzerland, UAE, UK and US.