iSME Grants $15K to Speed@BDD Startups

iSME Grants $15K to Speed@BDD Startups

by speed · August 2, 2017 · in Announcements

Speed@BDD is proud to announce its new partnership with the iSME Program by Kafalat to provide our Cycle IV and Cycle V graduating startups with the $15,000 equity-free grant without going through an additional selection process. This results in Speed@BDD startups receiving a total $45,000 in financial support as a result of getting selected to the program.

The iSME Program is a $30 million initiative funded by the Government of Lebanon and the World Bank that aims to provide early stage funding for financially viable and innovative startups.

Part of the $30 million is allocated to the iSME Grant program that provides startups with a $15,000 equity-free investment. iSME has provided this grant to over 100 startups so far, requiring them to go through their own application process. The newly formed partnership no longer requires our startups to go through this process and benefits automatically to those graduating in Cycle IV and Cycle V.

Our partnership with the iSME Program is a further testament to Speed@BDD’s commitment to support our startups in securing additional funds that enable them to operate and grow in the months following the acceleration period until they secure their next round of investment.