Beirut, March 21, 2019. Groupe Bel – the multinational cheese marketer, has teamed up with Berytech – the ecosystem for entrepreneurs, to launch the ‘Kiri Mompreneur Challenge’ to help mothers develop their innovative idea or project into a viable business. The official announcement came on Mother’s Day, celebrated on March 21 in Lebanon.
“Being a mom and an entrepreneur is hard and every bit of support is needed,” comments Dr. Hady Khalaf – Transformation Director Middle East and Africa for Groupe Bel. “We care about mothers the way they care for their families. So, we partnered with Berytech to help make a difference in their lives and the lives of people around them while turning their dream projects into full-fledged businesses.”
The ‘Kiri Mompreneur Challenge’ is open for mothers based in Lebanon, with an early-stage project which contributes to improving the future of society and the planet. It is open for mothers who are innovating in art, education, culture, food or any other societal or environmental field with a validated business idea. The application but be submitted and presented in English.
Mompreneur Challenge Details
There will be 30 shortlisted applicants given access to a series of capacity building and business development workshops by Berytech’s Business Support and Development team, helping them refine their business models and perfect their business plans for the second selection round. Then 10 finalists will be selected to be extensively trained for pitching their projects in front of the jury and the public on the competition’s finale. And finally, 1 winner will be announced to earn a $10,000 cash prize and 6-month incubation at Berytech valued at another $10,000 with access to master classes, training workshops and coaching sessions, as well as access to technical partners, mentors, grants, and potential investment.
Joanna Abi Abdallah, Head of Business Support and Development at Berytech explains that the Incubation Program will include working on the mindset of the winning mother, because perseverance, resilience, persistence, continuous effort and determination are essential elements to succeed. “Through the program, the Mompreneur will be building her entrepreneurial skills, validating her business idea to lessen the risk, and above all, paying it forward because we have seen amazing examples of open collaboration and exchange between our incubatees.”
Judging Criteria
What Kiri and Berytech are looking for is an innovative idea or project that is competitive, viable and scalable. Innovation can be either technology-driven or not. The offered product or service has to be new, at least in the target market or in its production or delivery method. Innovation can also be in the raw materials used to offer a product. Validation should be done using a sample of the target market through questionnaires, interviews, focus group or other methods. The Mompreneur needs to have a good understanding of her competition and able to describe her competitive advantage. The project or idea needs to be financially viable and profitable while showing potential for growth and long-term replicability.
Applications are accepted online on the Berytech website http://competitions.berytech.org/mompreneur/ until April 30, 2019.