🌻 LGA Partner Accelerator Cycles
LGA Program Overview
The Lebanon Growth Accelerator Program is an initiative of Bloom to help boost enterprises and the entrepreneurship ecosystem in Lebanon. It aims to create employment through enterprise accelerator programs run by Bloom and partner accelerators, plus enhancing ecosystem collaboration, developing shared training resources, and improving ecosystem capacities. The goal is to improve short-term and long-term opportunities for Lebanese and refugees, with a focus on vulnerable and marginalized communities.
Over a period of 18 months, 50 enterprises will be selected into the LGA Program through eight accelerator cycles: two run by the Bloom team, six run in collaboration with accelerator partners.
The LGA program is supported by the European Regional Development and Protection Program.
Co-Run Accelerator Cycles
Bloom plans to partner with accelerators and/or other ecosystem players (“Accelerator Partners”) to co-run six Accelerator cycles. The co-run Accelerator cycles can be existing programs that Accelerator Partners are already running, with additional support provided by Bloom and the LGA program. Alternatively, Accelerator partners and Bloom can create a new program as part of the LGA program led mainly by the Accelerator Partners.
What will Bloom provide?
As part of the partnership, Bloom can provide the following benefits:
- A financial grant of US$ 10,000 for each selected enterprise in the Partner Accelerator (five teams per Accelerator cycle)
- Access to operational and organizational resources
- The Bloom team (including the Programs and Comms and Marketing teams) can support the Accelerator Partner in developing the outreach campaign, designing the curriculum, and conducting the program.
- The Bloom team can provide access to the tools we have been using for running online programs over the past four years to enhance and facilitate the virtual experience (Miro, Airtable, Bloom App, Zoom, other).
- Access to training modules and content development
- The Bloom team is developing a Digital Library of training content. Accelerator Partners will have access to the Library and the directory of trainers.
- Bloom will also help source additional trainers and actively develop relevant content for the selected cohorts, in partnership with the Partner Accelerators.
- Access to the Bloom Fellows Program:
- Bloom is launching a Fellows Program to match talented individuals with enterprises and accelerators in our programs. The goal of this program is to mobilize world-class talent and people with deep expertise to spend 1-3 months working full-time (or close to it) with enterprises in Lebanon. Work could be in person or virtual. A financial stipend is available to support these Fellows.
- Each Accelerator Partner can have access to financial resources for program development and support:
- Up to US$ 20,000 for operational expenses (including staff, facility management, other) to run the Accelerator cycle.
- Up to US$ 5,000 for trainers and the development of reusable training modules.
What will the Accelerator Partner provide?
- The Accelerator Partner is expected to be the main lead running the Accelerator cycle.
- We’re looking for Accelerator Partners that are excited to leverage and help further develop approaches and methodologies that Bloom has been developing to give quantified tools to participants and program managers to help with identifying priority areas for personal and enterprise.
- The Accelerator Capacity Assessment Tool (ACAT): Atool that helps accelerators determine their areas of strengths and priority areas for improvement.
- The Enterprise Capacity Assessment Tool (ECAT): Helps enterprises and program managers determine priorities areas for enterprise development and show progress.
- The Values in Action Survey (VIA): Character strengths have a big impact on entrepreneurial effectiveness. VIA and Bloom’s Activity Library helps people identify their signature strengths and work on enterprise development activities that help both the individual and enterprise grow.
- The Accelerator Partner will have access to the platform and tools used by Bloom in running the programs:
- Bloom is developing a program management platform that we will invite Accelerator Partners to use to support their programs (and share feedback).
- Bloom conducts all of its sessions virtually, and would encourage the Accelerator Partners to use online tools when relevant to enhance the Accelerator experience. Some of these tools include Loom, Zoom, Miro and Airtable.
- Bloom and the Accelerator Partners will align on how best to follow up with enterprises on post-Accelerator activities, through community/alumni activities, and continued reporting from the enterprises (at least quarterly, and through end of 2022) to see how we can all collectively improve support for the enterprises.
Enterprise Selection Criteria:
The LGA program has the following eligibility conditions:
- The enterprise is registered in Lebanon and already has a track-record of revenues or user traction.
- The enterprise is working to expand its team and create job opportunities in Lebanon (particularly in vulnerable and refugee communities).
- The enterprise is designed to be economically viable without the program’s long-term support.
- We encourage responsible, inclusive and social enterprises.
Each Accelerator Partner can adapt its own selection criteria (ie industry, stage, or type of enterprise) within the above eligibility conditions.
Bloom plans to select two Accelerator Partners in June and launch two co-run Accelerator programs by the end of Q3 2021. Below is a suggested timeline that is to be discussed and agreed to by the Accelerator Partners.
Bloom is also looking to partner with an additional four Accelerator Partners for a cycle planned to launch in Q4-2021. The timeline for the later cycles can be determined jointly with the Accelerator Partners.