Bader, Berytech Fund II, IM Capital, Lebanon for Entrepreneurs (LFE), and MEVP Impact announced the launch of tech accelerator Speed@BDD in Beirut on the 29th of July 2015.
Speed@BDD is Lebanon’s only Y Combinator-style accelerator, and it is intended to be a collaborative effort among Lebanon’s leading investment funds and entrepreneurship support organizations to build an elite community for top-notch startups.
Speed@BDD is run by CEO Sami Abou Saab, a Berkeley MBA graduate who returned from Seattle after serving as Product Manager for Skype at Microsoft. Its Board of Directors is currently composed of Maroun Chammas, Fadi Bizri, Walid Hanna, and Abdallah Jabbour.
“After a year and a half of preparation, we are proud to announce the launch of Speed@BDD, which will be producing the MENA region’s next high-growth businesses, particularly in the software, digital, and Web/mobile industries”, commented Abou Saab. “In addition to $30,000 in cash, the three-month acceleration program will offer free hosting, product development, business development, accounting services, legal services, and mentorship, all in return for 10% in equity”, he added. Hosted in the Beirut Digital District (BDD), Speed@BDD will admit two batches per year, and the top two teams in each batch will benefit from follow-on acceleration in Silicon Valley. The program is open to any startup team at the idea or Minimum Viable Product stage that can move to Lebanon.
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