The U.N. Development Programme (UNDP) announced on Tuesday the launch of Deraya Entrepreneurship Initiative, a program which aims to “build a dynamic ecosystem of innovative entrepreneurs and startups in Libya.”
Deraya Entrepreneurship Initiative is open to young people aged between 18 and 35 as well as vulnerable groups, according to UNDP. During the interactive program, participants will engage in a variety of activities including webinars to explore the success stories of entrepreneurs from Libya, Egypt, and Tunisia. The program also host startup weekends in Tripoli, Benghazi, Sabha, and Derna, culminating with a pitch competition for startups to win funding.
As a jointly developed initiative by the Ministry of Local Government and UNDP, entrepreneurs will be linked to the municipal business incubators being set up by the ministry and the U.N. agency.
José Sabadell, the Head of the European Union Mission in Libya which funds Deraya in collaboration with the African Development Bank (AfDB), stated that “Libya’s economic prosperity will be driven by young entrepreneurs with innovative, forward-looking ideas. They will be the key to a more diversified Libyan economy, a strong private sector and new jobs.”
“Together with our Libyan and international partners, the European Union therefore seeks to offer strong and concrete support to young Libyan entrepreneurs, to realise their business ideas,” he added.
Commenting on the launch of the program, UNDP Resident Representative Marc-André Franche explained that, through the Deraya program, “UNDP seek to help inspire and provide young entrepreneurs with the necessary resources and assets to realize growth and innovation.”
Minister of Local Government Bader Al-Deen Al-Tomi affirmed that “Deraya initiative plays a pivotal role in the Ministry of Local Government’s strategy to develop entrepreneurship and micro-enterprises at the local level”.
As the program seeks to integrate the knowledge of experiences of successful North African startups with aspiring Libyan entrepreneurs, UNDP and the Ministry of Local Government collaborated with local and regional firms to implement the program, including Flat6labs, an Egyptian venture capital firm running startup programs in the region, Mazam, a project management and program development agency based in Tunisia, and Tatweer Research, a public company running key development projects aimed at accelerating Libya’s transition into a knowledge-based economy.
We are excited to announce the launch of @DerayaMoLG initiative, aimed to build a dynamic ecosystem of innovative entrepreneurs & startups in 🇱🇾!
For more info ➡️https://t.co/596vFX8KNZ
— UNDP Libya (@UNDPLibya) May 30, 2023