Second Cohort of Libya Startup Incubator Sees Surge in Derna Entrepreneurs
Silphium Labs has launched its second business incubation programme in Al-Bayda, Libya, helping local start-ups and small businesses grow. The incubator was established under the Libya Startup programme, co-implemented by SPARK and Super Novae with funding from the European Union. It plays a key role in supporting businesses, especially in regions significantly affected by last year’s floods.
A total of 228 aspiring entrepreneurs applied for the second cohort, with the majority coming from Al-Bayda and a large group from Derna, a city still recovering from the devastating floods caused by the collapse of two dams during Storm Daniel in September of 2023. The disaster displaced thousands and severely impacted businesses in the area.
Silphium Labs, the first business incubator in Al-Bayda, was founded in partnership with Omar Al-Mokhtar University and ION+ to foster local entrepreneurship and support a range of initiatives, including assisting Internally Displaced Persons (IDPs) and those impacted by the 2023 floods in northeastern Libya. The inaugural cohort was launched last October, with selected entrepreneurs joining a three-month incubation program. The results for the winners will be announced by February.
Interviews for the second cohort took place this month between the 5th and 7th of January, moving the selection process forward for those hoping to benefit from mentorship, training, and funding. The applicants in this round include many females as well as refugees. The applicants also include green businesses, tech start-ups, and health sector projects, showcasing a wide range of innovative ideas seeking growth and support.
By offering essential resources and focusing on communities like Derna, Silphium Labs, through the Libya Startup programme, continues to support economic recovery and empower entrepreneurs across Libya.
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