New startup incubator launched linking Lebanon and Germany

The incubator, which is named after Goeppert-Mayer, a German physicist and Nobel Prize winner in 1963, will offer Lebanese entrepreneurs an incubator for nurturing their startup ideas to help them grow in their early stages while offering financing to help kick-start their ideas.

20 June 2017 | 17:05

Source: Annahar

  • By Yehia El Amine
  • Source: Annahar
  • Last update: 20 June 2017 | 17:05

MGMI Director Ayman Chehade delivering a presentation about the incubator at Movenpick Hotel in Beirut. (MGMI Photo)

BEIRUT: The German Academic Development Center in Beirut in partnership with the Innovation Center Hamm, in Germany, launched Friday the pre-operations of the Maria Goeppert-Mayer Incubator/Accelerator (MGMI) under the patronage of the German Ambassador to Lebanon Martin Huth.

“We all know that the Lebanese people have an extraordinary entrepreneurial spirit. Many examples of successful business ideas and academic achievements around the globe have been showing this in an impressive way,” Huth said during his opening speech at the Movenpick hotel in Beirut.

The ambassador praised the Lebanese people’s talent to successfully integrate into their societies and positively contribute to the economy, calling that talent a “real added value.”

The incubator, which is named after Goeppert-Mayer, a German physicist and Nobel Prize winner in 1963, will offer Lebanese entrepreneurs an incubator for nurturing their startup ideas to help them grow in their early stages while offering financing to help kick-start their ideas.

“After a screening process made by a special Lebanese-German committee, it will then decide the best possible location to launch the respective startup, with either a placement in Lebanon or in Germany, if the aid required isn’t available locally,” MGMI Director Ayman Chehade said.

The incubator will also offer excelling startups and entrepreneurs a link to German universities and industrial institutions related to the theme of their startups, in order to help them in the research and development process.

“Giving talented Lebanese entrepreneurs a chance to show their abilities and their potential, will in return help create jobs in Lebanon to strengthening the country’s economy," said Huth, adding "With a strong link to and exchange with Germany, as foreseen by the incubator, this idea will be of mutual benefit for our two countries.”

Dr. Karl-Georg Steffens, Director of the Innovation Center Hamm, highlighted the importance of the cooperation between both countries as well as the broad horizons made available to enterprising Lebanese youth from this project.

“Hopefully such an advanced project will allow young Lebanese entrepreneurs to achieve new aspirations by helping, guiding and supporting them through the many stages of their unique ideas to craft productive and profitable enterprises,” Steffens said.

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