Building a vibrant ecosystem of creative entrepreneurs and startups in Libya is the goal of the new Deraya entrepreneurship initiative for young people.
The Deraya initiative, created in partnership with the Ministry of Local Government (MoLG) and the United Nations Development Programme (UNDP), in addition to the European Union (EU) and the African Development Bank (AfDB), aims to give entrepreneurs the skills they need to turn creative ideas into profitable startups.
Deraya is welcoming to innovative and aspirant business owners between the ages of 18 and 35, with a focus on youth and vulnerable groups. The initiative’s participants will have the chance to interact with seasoned businesspeople, subject matter experts, and role models from Libya, Egypt, and Tunisia through interactive webinars and learn from their success stories, a wealth of knowledge, and expertise.
Startup weekends will also be part of the initiative, which will also take place in Tripoli, Benghazi, Sebha, and Derna. The initiative will culminate in a pitch competition where the winning startups will compete for funding from the EU and AfDB in order to advance, expand, and expand their business ideas.
Entrepreneurs will be connected to the municipal business incubators being established with the help of MoLG and UNDP as a crucial step toward sustainability.
“The Deraya initiative plays a pivotal role in the Ministry of Local Government’s strategy to develop entrepreneurship and micro-enterprises at the local level, empower municipalities economically, and provide job opportunities in line with Law 592 and Resolution 15003. We are delighted to work towards these goals in cooperation with our international partners, EU, AfDB, and UNDP,” said Dr Bader Al-Deen Al-Tomi, Minister of Local Government.
