On September 11, 2015, IM Capital closed a Matching Capital investment round in seed accelerator Speed@BDD. Speed@BDD is the first ecosystem-backed tech startup accelerator in Lebanon, and is the country’s only Y Combinator-style accelerator; it accepts startups at the idea and early stage, and is tasked with producing the region’s next high-growth businesses, particularly in the software, digital, and Web/mobile industries.

Speed@BDD is a collaborative effort between Lebanon’s leading investment funds and entrepreneurship support organizations to build an elite community for top-notch startups. These investments funds include Berytech Fund II, Middle East Venture Partners (MEVP), Insure and Match Capital (IM Capital), Lebanon for Entrepreneurs (LFE), and Bader Young Entrepreneur Program. Hosted in the Beirut Digital District (BDD), Speed@BDD will admit two batches per year. The program is open to any startup team at the idea or Minimum Viable Product stage and that can move to Lebanon for the acceleration.

The first acceleration program will start on the 22nd of September with 7 selected startups, offering $30,000 cash injection, in addition to free hosting, product development, business development, accounting services, legal services, and mentorship. Workshops will be delivered by local and international mentors with various backgrounds and expertise. The acceleration cycle will conclude with a Demo Day, an event during which the startups pitch their products to a carefully selected, invite-only audience of potential investors. The top 2 startups of the batch will be sent to Silicon Valley for a follow-on immersion.