Regional Company Changelabs Kicks Off Early Stage Fintech Accelerator in Lebanon
The program has identified 10 promising Lebanese entrepreneurs with ideas in the fintech space and will support them with a robust 3 month learning program and in-kind funding of up to $35k per company
Beirut, 6th October: Changelabs, the leading regional impact-centered startup accelerator, has launched a program in Lebanon supporting local entrepreneurs across the fintech space. Now more than ever, Lebanese consumers and businesses need access to innovative financial services that can help improve their prospects. The fintech accelerator, sponsored by SANAD Entrepreneurship Academy, is designed to support startups tackling financial inclusion, mobile payments, micro-loans, insurance, ticketing platforms and serving the largely unbanked local population.
The accelerator will offer unparalleled access to the resources the startups need to pilot, launch, acquire customers, build partnerships, and raise seed stage funding. Graduating companies will then be funneled into the ecosystem, creating a ripple effect that enriches all.
“One of the biggest challenges in Lebanon is developing a consistent and robust pipeline of new startups to fuel the ecosystem’s growth and success – Changelabs is working with local, regional, and global partners to bring its award-winning programs to the country and help young entrepreneurs, in all areas and of all ages, bring their ideas to market ” shared Karim Samra, co-founder at Changelabs.
Even though Lebanon’s population is largely digitally connected, with the majority of its households having a smartphone and internet subscription, the population remains largely unbanked especially in the aftermath of the banking and financial crises that have hit the country. Accordingly, Changelabs’ fintech accelerator will identify, recruit, train and fund the best startups in the ecosystem that will leverage this opportunity and address this market gap.
The training modules will be held online by industry experts and coaches, covering relevant topics such as team dynamics, value proposition, customer acquisition, commercialization, market positioning and milestone planning.
The program has just launched with a kick off event where the following 10 selected startups were announced: Ensabill, U-SHOP , INVESTO, Pegor, Tengo, Payllion, HCare, Cashtac, Beyond Edu, and Men Libnan.
About Changelabs
Changelabs has been turning ideas into startups since 2018, by designing and implementing some of the most impactful social learning programs, accelerators, festivals and more, in Africa and the Middle East, in partnership with leading governments, development organizations, and private sector players. Apply today to Changelabs programs on www.changelabsme.org
