Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
New entrepreneurship initiative to boost job creation in Libya

The Deraya initiative is designed to equip entrepreneurs with the essential know-how to turn innovative ideas into successful startups

TRIPOLI, LIBYA - EQS Newswire - 30 May 2023 - The new 'Deraya[1]?????????? Entrepreneurship Initiative' for young entrepreneurs seeks to build a dynamic ecosystem of innovative entrepreneurs and startups in Libya.

Young entrepreneurs in Libya face many challenges, including accessing markets and financial resources, and navigating regulations and administrative procedures. The Deraya initiative is designed to equip entrepreneurs with the essential know-how to turn innovative ideas into successful startups. The initiative was jointly developed by the Ministry of Local Government (MoLG), and United Nations Development Programme (UNDP), in collaboration with the European Union (EU) and the African Development Bank (AfDB).

Targeting youth and vulnerable groups, Deraya is open to innovative and aspiring entrepreneurs aged between 18 and 35. Through interactive webinars, the initiative's participants will be given an opportunity to engage with experienced entrepreneurs, subject matter experts, and role models from Libya, Egypt, and Tunisia and learn from their success stories, wealth of knowledge, and expertise. The initiative will also entail startup weekends in Tripoli, Benghazi, Sebha, and Derna, culminating with a pitch competition where the winning startups will receive financial support, financed by EU and AfDB, to further develop, grow, and take their business ideas to the next level. As a critical step towards sustainability, entrepreneurs will be linked to the municipal business incubators being set up with MoLG with UNDP's technical support.

Commenting on the launch of the programme, Dr. Bader Al-Deen Al-Tomi, Minister of Local Government, said: '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 59[2] and Resolution 1500[3]. We are delighted to work towards these goals in cooperation with our international partners, EU, AfDB and UNDP.'

EU Ambassador Mr. José Sabadell added: 'Libya's economic prosperity will be driven by young entrepreneurs with innovative, forward-looking ideas. They will be the key to a more diversified Libyan economy, a strong private sector and new jobs. Together with our Libyan and international partners, the European Union therefore seeks to offer strong and concrete support to young Libyan entrepreneurs, to realise their business ideas.'

Mr Mohamed El Azizi, Regional Director for North Africa at the African Development Bank, further commented: 'Private sector development is key to boosting economic diversification and job creation in Libya. Supporting the trajectory of young Libyan men and women to develop and grow their start-ups has enormous socio-economic potential and will contribute to job creation. It is also important to ensure an adequate business enabling environment and institutional support. The EEYES project, financed by the AfDB through the Youth Entrepreneurship and Innovation Multidonor Trust Fund, and implemented by UNDP, supports these components.'

UNDP Resident Representative, Mr. Marc-André Franche, said: 'Libya has a new generation of young people, women and men, , with promising capacity and big ambitions. The country has the potential to be one of the biggest entrepreneurial ecosystems in North Africa, and through the Deraya programme, UNDP seek to help inspire and provide young entrepreneurs with the necessary resources and assets to realise growth and innovation.'

The Deraya programme is part of UNDP's Local Peacebuilding and Resilience efforts in partnership with MoLG, aimed at creating socio-economic opportunities for youth and vulnerable groups to promote sustainable growth in Libya, including the establishment of the first Municipality-led business incubator (https://apo-opa.info/3C2SOf1) and the TEC+ Accelerator programme (https://apo-opa.info/3oANCMa).

The Deraya initiative, co-funded by AfDB and EU, is designed and implemented in collaboration with a consortium consisting of Flat6Labs (https://www.Flat6Labs.com/), Tatweer Research (https://TatweerResearch.org/) and MAZAM (https://apo-opa.info/3WUSWHf), bringing in years of experience and specialized knowledge in helping young entrepreneurs launch successful ventures in both the Middle East & Africa regions.

Further information and how to apply can be found on the website: Deraya.ly.

Background:
UNDP supports Libya's transition towards peace, economic recovery, and sustainable development to help the country get on a more robust development path by supporting local authorities to restore essential services delivery and livelihood opportunities and promote peaceful co-existence. Job creation for youth is at the heart of UNDP's local Peacebuilding efforts. This initiative is part of UNDP's 'Environment towards youth entrepreneurship support and positive migration governance project (EEYES)' programme financed by the African Development Bank (AfDB), and the Strengthening Local Capacity for Resilience and Recovery Project funded by the North of Africa Window of the European Union Emergency Trust Fund for Stability which contributes to addressing the root causes of irregular migration and displaced persons in Africa (EUTF – NOA). The Deraya initiative is implemented in partnership with Flat6Labs, Tatweer and Mazam.

Get in touch with UNDP Libya:
Twitter: https://apo-opa.info/3N0GcKD
Facebook: https://apo-opa.info/3MHe1Qx
YouTube: https://apo-opa.info/3C8myqF

More resources of UNDP:
Our work: https://apo-opa.info/3ILVDoD
UNDP News: https://apo-opa.info/3ILgng2
Get Involved: https://apo-opa.info/43ifqUL


[1] Deraya is an Arabic word meaning knowledge and awareness.
Hashtag: #Flat6Labs

The issuer is solely responsible for the content of this announcement.

About UNDP:

UNDP partners with people at all levels of society to help build nations that can withstand crisis, and drive and sustain the kind of growth that improves the quality of life for everyone. On the ground in nearly 170 countries and territories, we offer global perspective and local insight to help empower lives and build resilient nations. .

Download image 1: [New entrepreneurship initiative to boost job creation in Libya (1)]
Download image 2: [New entrepreneurship initiative to boost job creation in Libya (2)]

Flat6Labs

Posted by : Media Outreach, Jenny
Viewed 0 times
PR Category : Others
Posted on : Wednesday, May 31, 2023  11:00:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Media OutReach

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Stay Protected from Increasing Gold Rates with Malabar Gold & Diamonds [9307-Views]
Emirates Increases Flights to Riyadh for Saudi National Day [4088-Views]
Danube Home Unveils the Exciting My Garden Collection for 2024 [3649-Views]
Dubai Sports Council & International Cricket Council discuss ways of boosting Common Coope... [3378-Views]
DAE Announces Closing of US$1.6 Billion New Financing Facilities [3362-Views]
Joyalukkas Announces Happy Diamonds Promotion with 100% Value Assurance on Diamond Exchang... [3341-Views]
OMEGA's Latest Seamaster Salutes Emirates Team New Zealand [3280-Views]
Abrahamic Family House Announces Programming to Foster Interfaith Dialogue and Inspire Und... [3177-Views]
Al Masaood Automobiles Witnesses Strong Growth for Nissan Certified Pre-Owned Vehicles wit... [3153-Views]
King of the Table 8” Arm-wrestling Legends John Brzenk and Alexey Voyevoda Collide for a J... [3145-Views]
Marina Rinaldi FW 23 X Mary Katrantzou [3120-Views]
Akillis Rendez-Vous Campaign Featuring Capture Collection [3095-Views]
Emirates Engages Experienced Captains to Fly the Airline's Future Fleet [3022-Views]
Mohammed Bin Rashid Library Launches ‘A World in Your Language' Initiative to Read and Lis... [2981-Views]
ADU's College of Business Rolls Out Five Programs for Undergraduate Students [2977-Views]
The Tamkeen Real Estate Programme Workshop Empowers understanding of ‘Nafis' and Reinforce... [2968-Views]
Emirates and SriLankan Establish Reciprocal Interline Partnership [2960-Views]
Juan Manuel Fangio's Victory 70 Years Ago Aboard a Maserati at the Italian Grand Prix [2931-Views]
Bax takes daring Victory and Hirschi Finishes Second in Italy as Ayuso concludes a strong ... [2931-Views]
The Grand Symphony of Wheels: GIMS Qatar 2023 Roars to Life in Doha [2931-Views]
Danah Bay Introduces First-ever Breakwater Villas and Exclusive Landside Villas in Ras Al ... [2890-Views]
Dubai Municipality Participates in “Ru'ya 2023 Careers UAE Redefined” [2886-Views]
Emirates Scores with Beirut Basketball Club in a Multi-year Sponsorship [2858-Views]
Nirvikar Films Unveils a Gripping Tale of Intrigue in "Aakhri Sach" - A Blockbus... [2788-Views]
Al Ansari Exchange Crowns 10th Millionaire of Summer Promotion [2763-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories