Speed@BDD announced, in an event held on Tuesday, September 29th, 2015 at GardenState, the start of its first acceleration cycle with the seven startups on board. The launch event was attended by entrepreneurs, investors, bank directors, private sector and NGO representatives, incubator managers, and entrepreneurship ecosystem stakeholders. “We wanted to admit only outstanding entrepreneurs into our intense program, and after a thorough selection process, here we are launching our first acceleration cycle with seven startups,” said Mr. Sami Abou Saab, CEO of Speed@BDD. “We look forward to getting the best out of each team and to sharing with you positive news at the conclusion of our acceleration cycle in three months,” he added. The launch was attended by “Teddy” (USAID Lebanon Mission Director), as well as Cybill Sigler (EG office director) Shawn Jones (Program Office Director) and other senior USAID staff. “This is all new to me”, said “Teddy”, addressing the audience with a few remarks. “We are very happy to be part of this beautiful crowd and vibrant community, and to participate in funding the entrepreneurship eco-system through IM Capital. We wish you the best and all the luck in the world”.

“We are coaching each startup on its business and technology needs to deliver the most value within the 3-month acceleration,” added Abou Saab. Speed@BDD will start accepting applications for the next batch on a rolling basis (early applications have higher chances of getting selected) as of October 1st In order to institutionalize Matching Capital & Equity Guarantee with Venture Capitals and private institutional funds, IM Capital prepared a Protocol of Collaboration document stating the terms and conditions of the matching and insurance components. As of August 2015, IM Capital signed the Protocol of Collaboration with the following Lebanese institutional investors:

• Kafalat iSME
• Saned Partners
• Division One
• Y–Ventures
• MEVP
• Berytech Fund 2

Other funds are in the pipeline for signing the Protocol of Collaboration, such as LeapVentures and Bank Audi.