Theemar Business Idea Competition’s (TBIC) final event was held on Saturday May 12 at AZM Educational Campus. TBIC is a three-month competition organized by Theemar Tripoli Investment Fund, in order to develop the entrepreneurship ecosystem in North Lebanon. It aimed to provide an opportunity for university students to become young entrepreneurs. The competition also provided them with the right tools to turn their business idea into a workable business concept.
Ten universities from North Lebanon participated in TBIC including: Azm University, Beirut Arab University, City University, Jinan University, Lebanese International University (LIU), Lebanese University, Saint Joseph University (USJ), University of Balamand, Universite CNAM, and Universite Libano-Francaise (ULF).
Theemar approached each of the universities and asked them to appoint qualified university professors to coach and work closely with their students. The fund’s manager, Karim Soueissi conducted four design thinking workshops, two workshops for the universities’ professors and another two workshops for students. He also conducted several meetings with the students and their coaches to further support them in applying the design thinking process.
About 90 teams applied to the competition, 30 of which made it to the semi-final and up to 10 teams qualified for the final event.
The first $4,500 prize went to team ‘IngREADients’ from the Lebanese University. They brought a mobile app that enables its users to assess whether the ingredients of food products are healthy or whether they suit their personal health profile. The second $3,500 prize went to team ‘Leb E-Guide’ from City University. It is a mobile app that shows detailed information about Lebanon’s touristic sites, events, hotels, transportation, organized tours, and guides. The third $2,000 prize went to ‘Lucy’ from Beirut Arab University. It is a device that tracks infants and toddlers’ heart rate and temperature, connected to a mobile phone in order help parents in checking on their sick child.
MP Nicolas Nahhas, chairman of the board of directors at Theemar Tripoli Investment Fund, said: “It is our duty to work together to develop the business environment in Tripoli by improving its economic and legal infrastructure.” He added: “The students increased the responsibility placed on us, and I pledge to do everything I can to secure a better future that suits their ambitions.”