On August 6th, during Seedstars Tripoli, Elham Inspire won the Libya round of Seedstars World and will represent the country at the Seedstars Summit in Switzerland to compete for up to USD 1 million in equity investment and other prizes.
Seedstars World, the largest seed-stage startup competition for emerging markets and fast-growing startup scenes, brought its Libya round to a successful close during Seedstars Tripoli. The event took place this Monday, at The Radisson Blu Hotel, where 7 selected startups were invited to present their companies in front of the local jury panel.
The local winner, Elham Inspire, who provide an educational environment that enhances the character of teens and raises their competency using technology based education, was named “Best Startup in Libya” for its innovative sustainable solution.
“We entered the Seedstars not expecting to win, but expecting to raise funds, and now being part of the Seedstars global family has opened many doors for us to do so,” explains Mallek Ajaj, Founder/CEO of Elham Inspire.
As a part of the prize, Elham Inspire will be participating at the Seedstars Summit, which takes place in Switzerland, in April 2019. It is a weeklong training program, with the opportunity to meet the 65+ winners from other fast growing economies, as well as investors and mentors from around the world.
The final day of the Summit is dedicated to pitching in front of an audience of more than 1000 attendees, with the possibility of winning up to USD 1 million in equity investment and other prizes.
The 7 startups pitched in front of a prestigious jury, including Naaman Elbouri, founder of Tadawul Financial Group, Intissar Rajabay, Country Director of MEDA, Mounia Attiga, Founder of Gemstones.
The event gathered a number of Ministers and Embassy representatives and leading businessmen and women from Libya and abroad, proving that there is indeed a hunger for change and support for local entrepreneurs. Seedstars received over 80 applications from all around Libya for this event, which was attended by over 450 individuals.
She Codes, which aims to empower women and children with coding and computational thinking, came second and Yummy, which brings women’s home-based businesses to the formal economy and helps them expand their business from home, grabbed the last spot in the top 3.
After this stop at Libya, Omar Barakat, Regional Associate for MENA at Seedstars, says:
“I was overwhelmed with the huge amount of support coming from both the public and private sector for entrepreneurs in Libya. The talent is there, the resources are there, what is left is structured programs in order to take these entrepreneurs to the next level and that's why at Seedstars we’re committed to establishing long term programs for Libyan entrepreneurs in order to have a sustained impact on the local ecosystem”