MedVentures – helping bright ideas go global
An application for drivers and visually impaired users that reads out text messages, management of energy grids in inaccessible areas through GPRS-based solutions, social networking for women in the Middle East – these highly diverse business ideas have one thing in common: they recently scooped the MedVentures Awards 2010 for successful start-ups established in the Mediterranean region.
MedVentures rewards innovative start-up businesses which have achieved high growth from southern Mediterranean countries. The three winners – EyalGPS (Israel), ADDICTS 123 (Palestinian Authority) and (Lebanon) – were selected from around one hundred competitors and received prize money worth €90 000 in total.
The start-ups are selected not just for their achievements at local level, but also for their international potential: through coaching, partnerships, team-building and funding, their development on a global scale will receive a significant boost.
The MedVentures initiative is part of the EU’s Invest in Med programme, which develops trade relations and partnerships between the EU and Mediterranean partner countries. As a bridge between incubators, investors and structures supporting entrepreneurs in the Mediterranean region, MedVentures acts to encourage the internationalisation of local business, with a focus on small business start-ups.
The initiative is led by the ANIMA Investment Network, a multi-country platform working to maximise economic development around the Mediterranean.