Technical Assistance: IM-CFO Workshop
In light of the importance of efficiency in the early stages of an entrepreneur’s timeline, IM Capital, in partnership with JE Austin & Associates and Berytech, launched a Technical Assistance Program, called IM-CFO, as part of IM Capital financial advisory support. The aim of the IM-CFO program is to recruit part-time financial consultants and to guide and empower them with the necessary tools and resources to support startups and early stage entrepreneurs. Through proper guidance, focused efforts would result in an impressive financial strategy, modeling, and bring consultants a step closer to landing interested investors. The call for “IM-CFOs” was launched mid-May; more than 50 applications were received and 25 participants were short-listed according to relevant background, expertise and availability. The selected candidates were invited to attend a 3-day workshop, at the Radisson Blu Martinez Hotel, Beirut, from the 16th to the 18th of June. The workshop was led by two experts from JE Austin & Associates: Mike Ducker, currently the Director of Tigers@Mekong, and Tom Gibson, former founding president and chairman of the Small Enterprise Assistance Funds (SEAF). Mike Ducker shared his extensive experience on developing entrepreneurial ecosystems in emerging markets and discussed support structures for entrepreneurs. Tom Gibson presented key financial tools and models, bringing his 25-year experience in the development of new SME risk capital funds and the training of fund managers and other stakeholders in SME finance. Furthermore, Dr. Nicolas Rouhana, IM Capital General Manager, showcased the Lebanese entrepreneurship ecosystem and the current rising opportunities for the support of startups and SMEs in Lebanon. Participants who have completed the program will be further screened to form the permanent IM-CFO pool of financial experts.