Tadawul Financial Group, and French NGO Super Novae with Dutch NGO Spark, signed an agreement to launch Libya Start Up Incubator and Accelerator project yesterday. The project is funded by the EU and implemented by Super Novae and Spark.
The stakeholders said Libya Start-Up is a project that supports the Libyan entrepreneurial ecosystems, through training, mentoring, and strengthening the capacities of entrepreneurs.
Managing the project for Tadawul, Najla Almasalati, told Libyan media that the initial phase of the project is called ‘‘Innovation Garden’’ and aims to help star- ups launch their projects by providing incubation whilst the second phase will act as an accelerator for existing SMEs.
Speaking to Libyan media about the project, Tadawul shareholder Husni Bey said the project will focus on fintech companies. He said young entrepreneurs will be incubated or accelerated over a two-year period. He said Angel Financers will be invited to invest in these incubated and accelerated companies.