The UNDP has launched its Re-Start-Up events, a two-day marathon where entrepreneurs, who lost their business due to the conflict, will develop innovative business ideas that can contribute to recovering the economy in their communities.
The marathon will take place in Tripoli and in Benghazi, starting on Wednesday, 21 October 2020, and ending on Thursday, 22 October 2020, when a panel will select 10 ideas in each location.
During Re-Start-up, participants will receive business development training to further improve their business ideas, enrich them and turn them into reality.
Selected ideas will be technically and financially supported during the business development process and the individual or teams’ authors of those ideas will also have the chance to receive a pre-incubation accelerator program to benefit from training and mentoring for three months.
The UNDP said that since the start of Libya’s transition to democratic rule in 2011, the country has continued to face a myriad of challenges, including high unemployment rates that have been compounded by the current COVID-19 pandemic. The economic crisis severely impacted the private sector, leading to uncertainty and closure of businesses.
It added that Re-Start-Up seeks to address some of these challenges by boosting Libyan entrepreneurs’ capacity to rebuild their businesses and reunite their communities with an eye on gender mainstreaming, environment and peace.
The event is open to all entrepreneurs operating in Southern Tripoli and Benghazi who went out of business due to the conflict and want to relaunch their businesses.
