STREAM holds the first meetup Investors’ Day in Libya
Tunis, 3 September 2020 – STREAM incubator, accelerator and fab lab held the first Investors’ Day in Libya on 1 September 2020 to provide its startups with unique opportunities to meet with investors. Due to COVID conditions, the event was held online.
In Libya, access to finance is a key issue for startups. STREAM, which has been founded through UK Government’s financing and technical assistance from Expertise France and Libyana, is training entrepreneurs, with a focus on youth and women, in order to provide them with the useful skills and capacities to start and grow their businesses. Since it was created in November 2019, STREAM has already supported some 100 Libyan entrepreneurs create their activity and develop their capacities in business management, business development and networking.
STREAM invited 60 investors for Streamers to pitch business models and demonstrate the success of their companies. Among them, thirty investors – including private investors, corporate investors and bankers – have shown interest in participating in startups with potential investments up to LYD 300,000. Half of these investors are part of Libyan diaspora.
This Investors’ Day could be the first step towards the creation of investors’ clubs in Libya. In other words, STREAM is looking forward to encouraging the emergence of networks of investors, who will be interested in attracting and selecting promising startups to invest in.
STREAM is a €2 million project funded by UK, which sets up an incubator, accelerator and fab lab in Tripoli to support innovative entrepreneurs in Libya. In partnership with Libyana, a major mobile company in Libya, it seeks to raise the capacities of startups through coaching, mentoring, networking, and meeting with investors. It also manages a living community of entrepreneurs.