USEK Entrepreneurship Day Thematic 3: Education, training and mobility for entrepreneurship: How to develop students’ entrepreneurial skills (how to make students future entrepreneurs) USEK Entrepreneurship Day Ready? … Start … Grow!

DESCRIPTION WHAT Competition event. Organized by the Faculty of Business and Commercial Sciences. MAY 5, 2016 | During each Spring Semester. USEK Main campus. WHO WHEN WHERE

HOW

Context Anchorage Analysis of the need Target Audience Based on the need to keep USEK students updated with the worldwide trend of Start-ups and entrepreneurship; Target Audience Direct: Students of the « Business Planning » Course Indirect: Lebanese society

PARTNERS

Financing of the competition The prizes were offered by : 1st prize: 2500 USD 2nd prize: 1500 USD 3rd prize: 1000 USD

VISIBILITY| Communication strategy Executive committee / faculty representatives; Social Media platforms of the partners; USEK’s Social Media platforms; On-campus campaign: Danglers, posters, stickers, motivational quotes.

12 Teams made it to the Competition. VISIBILITY| Communication Efficacity 52 Teams signed up. 12 Teams made it to the Competition.

TRANSFERABILITY Competition model easily transferable to other universities/countries; Highly dependant on: 1- The students’ entrepreneurship culture and exposure; 2- The country’s support for startups. (BDL circular 331)

BDL CIRCULAR 331 In August 2014, BDL announced Circular 331, injecting the potential of 400 million dollars into the Lebanese enterprise market. Backing via boot camps and training programs that would support and help entrepreneurs develop further.

The local banks receive a seven-year interest-free credit from BDL, which can be invested in treasury bonds with an interest rate of 7%. In return, the bank commits to investing in the knowledge economy. The main objective of institutionalizing the Circular 331 is to move Lebanon towards a knowledge-based economy and eventually create job opportunities to battle unemployment. Source: http://2015.bdlaccelerate.com/everything-you-need-to-know-about-bdl-circular-331/

DURABILITY USEK is launching the « Asher Center for Innovation and Entrepreneurship (ACIE) » which provides: Mentorship and guidance; Intensive Development Programs; Space for startups; Funding; For students who want to turn their ideas into businesses.

INNOVATIVE CHARACTER The competition allows students to experience real- life jury questioning where they learn how to: Pitch and defend their idea; Convince/ the jury; Justify their business plans; Implement what was learned in a real-life situation.

IMPACT The competition pulls the students into the start-up ecosystem; The winning teams were offered the opportunity to integrate their ideas within the incubator programs of the partners in order to sustain the momentum of the competition.

1st Place - Smart Baby Care

2nd Place - Converting waste cooking oil into biodiesel

3rd Place – Blood Seeker

IMPLEMENTATION Factors Facilitating the Implementation Process The Executive committee’s effort exerted to update the competition from being exclusive to the Faculty of Business students to the entire community. The support of the partners especially “Banque Du Liban” through BDL Circular 331 which changed the entire start-up culture/scene in Lebanon.

IMPLEMENTATION TOOLKIT Human Resources 1. Main organizing team: 4 people 2. Executive Committee: 6 people 3. Communication team: 3 people Each of these individuals plays a key role and contributes to the success of this event.

Material Resources Financial resources The material used for communication purposes is drawn from a modest budget allocated to outreach off campus. The setup is the result of a sponsorship agreement with Fiesta. All these combined efforts made it possible to minimize the financial costs. Financial resources Byblos Bank is the main sponsor for the winners prizes.

THIS YEAR’S VERSION OF THE ENTREPRENEURSHIP DAY New Venture Challenge April 20,2017 More info: http://www.usek.edu.lb/news/annual-entrepreneurship-competition-2017

RESeaU Méditerranéen pour l’Employabilité RESUME RESeaU Méditerranéen pour l’Employabilité CONTACTS careers@usek.edu.lb +961 9 600 580