MEDSt@rts: MED Microfinance Support System for Startups

MEDSt@rts: MED Microfinance Support System for Startups 

Young people with promising business ideas abound in the Mediterranean region. However, young entrepreneurs encounter severe credit constraints, and gathering enough money to start or scale up their enterprises is often impossible. MEDSt@rts wants to help young people jump that deterrent hurdle, and accordingly, will develop an innovative supporting model to facilitate access to funding for “non-bankable” people. It will target actively committed young Mediterranean people with innovative business ideas, either in the initial or consolidation stage. 

Scouting, training and funding are the three main components of MEDSt@arts to launch new MESMEs and create new job opportunities.

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Duration

October 2019 – April 2022

Countries

Italy, Greece, Tunisia, Palestine, Lebanon

Partners

European Union, The European Neighborhood Instrument (ENI) CBCMED, and Regione Autonoma De Sardigna

Budget

€1m – €5m

Announcements and Activities

March 15th – Sales Mentor

As part of MedSt@rts objectives for sustainable development and durability, mentor(s) are responsible for the provision of support and assistance services to the 15 MedSt@rts entrepreneurs and startups through online mentorship sessions. The mentor is responsible for transferring viable and necessary knowledge and skills needed for each individual project to succeed.

The Sales mentor is responsible for identifying the needs of the MedSt@rts participants and providing each of them with customized sales-related consulting services according to their goals, needs, and vision. Furthermore, they are responsible for setting learning objectives for each participant and providing coaching sessions that will develop any lacking or weak skills.

Click here to apply or learn more

March 15th – Marketing Mentor

As part of MedSt@rts objectives for sustainable development and durability, mentor(s) are responsible for the provision of support and assistance services to the 15 MedSt@rts entrepreneurs and startups through online mentorship sessions. The mentor is responsible for transferring viable and necessary knowledge and skills needed for each individual project to succeed.

The Marketing Mentor is responsible for drafting marketing plans for each participant based on the nature of their work and vision. Mentees are expected to receive structure, guidance, and support services, allowing them developed marketing and management skills that would help them tackle a variety of marketing challenges.

Click here to apply or learn more

March 15th – Investment Mentor

As part of MedSt@rts objectives for sustainable development and durability, mentor(s) are responsible for the provision of support and assistance services to the 15 MedSt@rts entrepreneurs and startups through online mentorship sessions. The mentor is responsible for transferring viable and necessary knowledge and skills needed for each individual project to succeed.

The investment mentor is responsible for drafting investment plans and strategies for each participant, that allow them to set realistic and long-term goals. Mentors should provide participants with personalized advice based on market trends and their particular needs. The aim of the mentorship sessions is to allow mentees the knowledge and skills-base necessary to attract national and international investors.

Click here to apply or learn more

March 15th – Financial Mentor

As part of MedSt@rts objectives for sustainable development and durability, mentor(s) are responsible for the provision of support and assistance services to the 15 MedSt@rts entrepreneurs and startups through online mentorship sessions. The mentor is responsible for transferring viable and necessary knowledge and skills needed for each individual project to succeed.

The Financial Mentor is responsible for developing Financial Plans and Budget Allocation plans for each MedSt@rts Participant. Furthermore, they are expected to assist the MedSt@rts Participants in dealing with any budgeting difficulties they may face. They are also in charge of the assessment of the financial situation of each participant and develop it accordingly, ensuring longevity, sustainability, and success in the marketplace.

Click here to apply or learn more

March 15th – Customer Service Mentor

As part of MedSt@rts objectives for sustainable development and durability, mentor(s) are responsible for the provision of support and assistance services to the 15 MedSt@rts entrepreneurs and startups through online mentorship sessions. The mentor is responsible for transferring viable and necessary knowledge and skills needed for each individual project to succeed.

The Customer Service Mentor is responsible for mentoring MedSt@rts participants and allowing them the knowledge needed to provide easy and enjoyable experiences for the customer, with the ultimate goal of facilitating the growth of the startup. They are also in charge of developing thorough customer service plans that will allow the start-ups long-term guidance and success.

Click here to apply or learn more

March 7th – MED Microfinance support system for start-ups

The trainer is responsible for developing training material and delivering a 10-day incubation program, comprised of 60 hours (6h per day for 10 days) for 15 start-ups.

The Training methodology that will be utilized is a highly interactive participation-centred approach to ensure maximum engagement and discussion among participants. Small working groups and various collaborative exercises are held throughout the training sessions, with optimum results coming from active participant involvement. Thus, it is also peer-based learning where the results can be substantially high. The training will be online.

Click here to apply or learn more

January 6th – Microfinance Training Course

With the support of the EU-Funded MedSt@rts Project, we are pleased to announce “The Palestinian Microfinance Training Course”, targeting 10-15 students in their final year of university with a background in Finance. Dedicated and committed individuals are encouraged to apply to this 6-week training course, which will allow them highly valuable expertise and knowledge that will increase their employability in the marketplace. Participants will receive certifications indicating their completion of the course.

Click here to apply or learn more

November 23th – Trainer of Microfinance Promoters

As part of the MEDSt@rts objectives for sustainable development and durability, the Trainer shall provide a thorough and comprehensive training course for 10 promoters. This extensive course shall provide the Microfinance Promoters the tools and know-hows necessary for the provision of support and assistance to aspiring entrepreneurs in later stages of the project, which will enable entrepreneurs to find the most suitable financial solutions for national markets.

Click here to apply or learn more

September 20th – Analysis of the Mediterranean Microfinance Industry

As a preparatory activity to the design of a transnational network of microfinance, MEDSt@rts partnership have realized an in-depth analysis of the state of the microfinance industry, at a local and national level.

To read the full report, please click here

 

August 30th – Terms of Reference for the Position of Organisational Psychologist

Psychologists will assist in choosing the MedSt@rts candidates throughout the course of the
project. They will direct the candidates and assess them to ensure that the best 15 candidates are given the grant.

Click here to apply or learn more

 

June 30th – Medst@rts is currently accepting applications in Palestine.

You are encouraged to apply if you are 18-40 years old, unemployed, first-time business owner, or have an exciting business idea in one of the following sectors: digitalisation, agri-food, eco design, craftsmanship, cultural heritage, tourism, personal services, green innovation, isolation-economy, education, social innovation.

Click here to apply or learn more

 

 

 

April 27th – MEDSt@rts creates a network of local main actors to facilitate Palestinian entrepreneurs’ access to finance. The network brings together 12 financial institutions to build a constructive dialogue and share knowledge, as well as contribute to the project’s financing scheme, with a focus on talented, yet non-bankable entrepreneurs.

The Palestinian network is part of a bigger Mediterranean network that includes 60 key financing players from Greece🇬🇷, Tunisia🇹🇳, Lebanon 🇱🇧, Palestine,🇵🇸 and Italy 🇮🇹.

 

Selected Startups

MedSt@rts Phase 1 Results

Date:22/02/2021

MEDSt@rts - Med microfinance support system for start-ups - intends to support local entrepreneurs by supporting access to credit for people who are usually not eligible and developing an innovative support model that can be easily replicated in different contexts.

The final objective of the project will be to support the creation of 15 companies per target country, participants have to partake in a number of activities that will facilitate their progress and improve their entrepreneurial skillset. This list contains information on the shortlisted applicants of the first phase, based on their application forms and interviews.

MedSt@rts Phase 2 Results

Date:22/02/2021

MEDSt@rts - Med microfinance support system for start-ups - intends to support local entrepreneurs by supporting access to credit for people who are usually not eligible and developing an innovative support model that can be easily replicated in different contexts.


Based on the results of the evaluation of each participant, the following scoring was given to the MedSt@rts Phase

  • NameAverage scoring
  • Salma Akel80
  • Deema AKilani 77
  • Safaa Ayyad74
  • Huda Obaid + Mariana Musallam73
  • Odeh Quraan72
  • Razan Alawi70
  • Malak Sharif70
  • Duha JARRAR 70
  • Wheels 70
  • Be a Firefighter 70
  • Mohammad Hasan Salahat69
  • Osama Asbah69
  • Shahd Joudeh69
  • Yasmin Attoun68
  • Khawla Jayousi68
  • Majdi Mafarja67
  • Baker Bozeyeh67
  • Yafa Abd ALRahim67
  • Sana Ekhraiwiah67
  • Farah Aloul67
  • Thekra Mashhoor Mohammad Kmail 66
  • Muna Amasheh66
  • Shahd Osama Noor65
  • CMENA65
  • Yasmin Hasiba65
  • Ayesh Qumhieh65
  • Ameen Abu Diak - Jusoor Platform64
  • Amer Jaroshy - Bionic Splint64
  • Kathem Nasser Eddin - Crownox64
  • Nader Jayousi - Elbarrio Gym64
  • Hussam Owaineh - Virtual Assessment Test64
  • Jenna Naser50
  • Khaldoun Mafarajeh64
  • Shadan Nassar78
  • Waleed Abusamra- Soft Landing62
  • Jehad Jaber - Two Design68
  • Marah Ahmad61
  • NameAverage scoring
  • Plastic Recylcling Kingdom94
  • GEDU90
  • Turqat88
  • Flowless87
  • CMENA87
  • X Translators85
  • Muna Amasheh84
  • HarTee83
  • Be a Firefighter78
  • Pediatric OT Mobile77
  • TabibFind73
  • Makankom70
  • Hirz69
  • Wheels66
  • Sana Ekhraiwiah61
  • Two Design57
  • Razan Alawi54
  • ICraft50
  • Underground Pipe Robot22.5