On 27 July 2024, the University of Benghazi hosted the ‘Start Your Own Business’ seminar, organised by SPARK in partnership with the university’s Business Incubator. The event attracted over 110 participants, including students, academics, entrepreneurs, community leaders, and the general public. Attendees had the chance to learn about SPARK’s efforts in Libya, with a special focus on the Libya Startup programme, which is funded by the European Union and runs in collaboration with Super Novae.

The seminar provided a comprehensive overview of the entrepreneurial journey, guiding participants through key stages of business development. Participants learned more about ideation, which encouraged creative thinking and exploration of business ideas. The market research session stressed understanding consumer needs, identifying target markets, and analysing competitors. They also explored strategic planning for setting business goals and operational strategies, organisational development for long-term growth, and financial management and investment access for securing funding and managing finances.

A significant focus of the seminar was the tangible opportunities provided by the Libya Startup programme, which supports three key incubators across the country. The Asarya Business Incubator in Benghazi and the Innovation Garden in Tripoli are established centres that foster innovation with essential resources and support for local entrepreneurs. The forthcoming Silphium Labs in Al-Bayda, set to launch soon, will be the first incubator in eastern Libya, offering new opportunities for regional entrepreneurs. Through the Libya Start-Up programme, these incubators provide various services to facilitate business growth, including training workshops, mentorship, networking opportunities, and a pitching competition where selected startups can present their ideas and compete for grants to accelerate their development.

As the seminar concluded, Lubna Al-Shikhi, Head of the Business Incubator at the University of Benghazi, highlighted the significance of this partnership. “This is the first collaboration between SPARK and the Business Incubator University of Benghazi. It’s an important step towards empowering entrepreneurs and building a sustainable ecosystem where they can thrive. In a developing country like Libya, supporting small and medium-sized enterprises is crucial for economic recovery,” she said.

The Libya Startup programme aims to build a dynamic and sustainable entrepreneurial ecosystem in Libya. Funded by the European Union and implemented in collaboration with Super Novae, the programme seeks to provide mentoring and incubation services, offer training and workshops, facilitate networking opportunities, and provide access to funding. By addressing the need for effective business development services, the programme plays a crucial role in supporting the growth of start-ups and fostering economic resilience in Libya.