Endeavor Lebanon and LIFE leverage the Lebanese diaspora to support high-impact entrepreneurs

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 available 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 start-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’ raised concerns and plans; 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 Executive 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.”