First program to benefit from Central Bank’s Circular 331
ESA Business School’s incubator and accelerator, Smart ESA, plans to launch before the end of 2019 an acceleration program that will mainly focus on financial technology (fintech) and business-to-business (B2B) solutions, said Jihad Bitar, Director of Smart ESA.
This will be ESA’s first acceleration program to benefit from the Circular 331 of the Central Bank (BDL). The university has so far been tapping its own financial resources.
Smart ESA will inject cash in early-stage startups in exchange for equity.
The nine-month program could include various fintech solutions such as blockchain technology, according to Bitar. Lebanon’s fintech market is still underdeveloped, he said.
The B2B solution could include developing software for businesses, Bitar said.
Reported by Shikrallah Nakhoul