EU-funded SwitchMed programme brings together Lebanese green start-ups and investors
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For the past month, young entrepreneurs have been invited to present their ideas for innovative green solutions that could compete for the event 'Switchers meet investors' in the framework of the SwitchMed programme. The eight brightest ideas that presented the most viable business models, best potential impact on the environment and clear long-term vision were shortlisted to pitch their ideas to a panel of experts and potential investors. Ahead of the event, the selected entrepreneurs received practical training on how to best present and pitch their ideas.
Presented projects ranged from the production of renewable energy such as biofuel, the development of sustainable products and ways to fight plastic pollution through innovative approaches. You can found more information about them by clicking here. The ideas presented provided an encouraging and positive outlook on the youth’s motivation and commitment to help address Lebanon’s environment challenges.
"This event is a great way to celebrate World Environment Day. We are discovering new innovative ideas – and many bright young minds - that demonstrate most creatively how innovation and business can help us adopt an eco-friendly and green lifestyle," EU Ambassador Christina Lassen addressed the audience as saying.
A mobile botanical garden was also stationed outside the event's hall, giving the participants the opportunity to discover plant species native to Lebanon and learn about conservation processes and the importance of biodiversity for environmental balance.
Following a vote by the jury and the audience, the start-up Cubex was announced as the winner of the pitch and was offered a 2.500 Dollars grant to kick-start its green business. The startup offers a home scale wastewater and solid waste treatment system that allows households to process all of their organic waste on site effortlessly.
Encouraging other young entrepreneurs to come forward with new innovative ideas, Marc Aoun, Cubex’s business developer, said: “I believe that if you have the right idea there are many people who will want to invest in you.” He added that young people should develop their own green business ideas and make them feasible through financing models and incubation programmes.
This kind of events are crucial to the SwitchMed programme to “extend to the Mediterranean the idea that finance can be a force for good, a lever of social progress that improves lives’ people, economic and the environment” stressed SwitchMed project manager Claudia Pani.
Right after the group picture, a one-to-one session was held where each green entrepreneurs had a quality time with different investors and other stakeholders to receive a specific feedback and advice tailored to their green business. Since the very beginning, the SwitchMed programme have been working together with national partners, policy makers and stakeholders, in finding, supporting and promoting, innovative entrepreneurs around the Mediterranean who are creating new solutions that address environmental and social challenges always keeping the circular economy model has a core.
Have a look at all the nice picture of the event following this link.