Skip to main content

New Business Start-up Accelerator Initiative in Libya Celebrated by the ELTC

start-up Accelerator Initiative

The United Nations Development Programme (UNDP) and Tatweer Research have agreed to launch a new business start-up accelerator initiative in Tripoli, Benghazi, and Sabha. The initiative is aimed at creating new businesses and generating jobs for hundreds of youths as a critical component of building peace in Libya.

Innovative Businesses Ideas to be Supported

The accelerator program will support innovative businesses ideas, help build new market linkages, identify market niches, build relationships with partners and investors, and increase access to capital across the country. The initiative also contributes to UNDP’s efforts to upscale institutional capacities with the Ministry of Local Government and its resolution to create Business Incubators and Accelerators.

The launch of the business start-up accelerator is a part of UNDP’s Local Peacebuilding and Resilience Programme. Through this programme, UNDP hopes to provide much-needed support to entrepreneurs in Libya so they can develop their business ideas and contribute to the country’s economic growth and stability.

UNDP Resident Representative, Marc-André Franche underlined the importance of job creation for youth in local peacebuilding efforts. He expressed encouragement at this new partnership between Tatweer Research and UNDP that will help entrepreneurs grow their businesses into sustainable employment opportunities.

Farming solution in Libya
A plantation of hydroponically-grown lettuce, in a greenhouse in Qouwea

Start-Ups Accelerators and Entrepreneurship as the Future

Libya is a country in need of economic development and stability, and entrepreneurship can provide both. By starting businesses, entrepreneurs take risks to create products and services that Libyan consumers may need or want. This not only diversifies the economy, making it less reliant on oil revenue, but also creates jobs. In a country with high unemployment rates, this is critical.

Entrepreneurship also helps to develop new skills and knowledge among the Libyan people – business owners have to be creative and innovative in order to succeed. This type of thinking can spill over into other sectors of the economy, helping to drive overall growth. For all these reasons, entrepreneurship is a critical component in creating stability and economic prosperity in Libya – and the Euro-Libyan Trade Center supports this initiative.

Contributing to a Better Tomorrow

The new business start-up accelerator initiative in Libya is a welcome development that will help create new businesses and generate jobs for hundreds of youths. This will in turn contribute to building peace in the country. We hope that other countries in the region will follow suit and launch similar initiatives to support entrepreneurship and promote economic growth.

Championing Synergistic Growth

The Euro-Libyan Trade Center (ELTC), is a non-partisan, non-profit trade promotion agency working in cooperation with the GUCC to strengthen economic relations between Europe and Libya.

ELTC strategically positions itself as an enabler of transcontinental economic activities, offering a structured platform for entities with vested regional commercial interests. We are dedicated to enhancing operational capacities, broadening market access, and heightening the competitive index of enterprises within the region.

For tailored organisational strategy consultation, kindly reach us at +44 207 193 5556 or submit an inquiry via the provided contact form.

Follow us on: 

Ready to Elevate Your Business?

At the forefront of our mandate to drive economic development, we are dedicated to fostering meaningful partnerships with regional stakeholders, businesses, and professionals across diverse industries, charting a course towards a brighter, shared future.

For inquiries, please complete the form below or reach out to us at +44 207 193 5556

Contact for posts