High Expectations for the Second Edition of Bader Startup Cup
About The Cup
BADER Startup Cup 2013 Winners Karl Atiyeh and Sarah Hawilo of serVme
The successful launching of the first ever Bader Startup Cup, a very unique business model competition, has urged BADER to proceed this year with the second edition of the cup.
Startup Cup is a competition active in more than 60 countries worldwide and a feature event of Global Entrepreneurship Week, the largest global celebration of entrepreneurship. The competition is a 6 months program that includes extensive mentorship and training leading to a pool of high caliber Lebanese startups.
This year, over a hundred applications were received upon the closing of the submissions period, and only 15 startups were selected to proceed forward in the 6-month program.
An Extensive Mentorship Program
Following the judging phase, the 15 selected startups were assigned mentors to follow up with their progress and provide support. These mentors carefully matched with the startups based on industry and expertise will assist the startups over a period of 6 months, in continuous collaboration with BADER, with the aim to help them achieve new milestones and turn their ideas into viable businesses.
Nadia Moussouni from Energy 24 and Julien Fayad from Shopbuilder, told Bader that they are very content with the choice of their mentors, and that Bader couldn’t have selected a better mentor for them.
From the Startup Design Workshop – June 2014
In parallel with the continues mentorship hours spent during both phases of Startup Cup, BADER conducts specifically tailored workshops on topics inspired from the challenges semi-finalists face. In general, a considerable number of startups, for example, are looking to finance their ideas through loans. BADER advises on soliciting loans from KAFALAT, and hence an introductory session on the KAFALAT funding programs for small and medium and enterprises was organized. You may watch the session here. Another session hosted was on the many questions entrepreneurs ask on the legal issues of starting a business: What’s the best way to register a company? When do I need to register my startup? What are my startup’s taxation duties? You may watch the session here.
These regular sessions and workshops are also tailored for early stage startups outside the competition and are open for all interested entrepreneurs.
Karl Abou Zeid from Aim Peeps, a mobile application that helps people share their goals with people around them based on their geographical location, expressed how helpful and guiding the specific workshops organized by Bader are.
The final training scheduled will be on pitching. Similar to last year, finalist teams will receive a high quality pitching training through a mock pitch day prior to the official pitching.
Up next is the selection of the 7 startups that will proceed to the final round. The elimination is based on the general performance throughout the first coaching phase and the startups’ ability to respond to and achieve the milestones set by BADER and their respective mentors. In general, it’s a point system to evaluate which of the startups are capable of making the right steps towards taking their idea into the market and securing clients and for early stage startups to take it to the next level. The finalists will be competing not only for the title of the best performing startup, but also for over 100,000,000 LBP worth of cash and in-kind prizes.
The announcement of the finalists will be made on October 15 after which a big Pitch day before a high profile jury is scheduled for early November. The winners will be announced during the highly anticipated Networking961 which is also the opening event of Global Entrepreneurship Week Lebanon 2014 , officially hosted by BADER.