NNA - The University of Balamand (UOB) and the Business Incubation Association in Tripoli (BIAT) signed a Memorandum of Understanding (MOU) on April 3rd, 2025, to collaborate on establishing a new Business Development Center (BDC) in North Lebanon, in partnership with the Chamber of Commerce, Industry, and Agriculture of Tripoli (CCIAT). The MOU aims to support local entrepreneurs, promote the commercialization of research, and drive sustainable development through joint initiatives.

UOB and BIAT are joining forces to create the BDC, a hub for entrepreneurship, research, and regional economic growth, which will provide a unique platform for students, entrepreneurs, and industry experts to collaborate. It will also offer essential resources such as coworking spaces, funding, mentorship, and sustainable development programs aligned with the United Nations Sustainable Development Goals (SDGs).

Dr. Elias Warrak, President of UOB, stated: "This collaboration is a great opportunity to foster creativity and innovation among our students, as it provides them with the chance to engage directly with real-world practices and market challenges. Additionally, the partnership with the private sector helps build bridges of communication between academic education and the needs of the industrial and commercial sectors, which positively impacts both the university and the local community."

Mr. Nasri Mouawad, CEO and Chairman of BIAT, announced: "The BDC we are launching today, implemented through a partnership between BIAT, UOB, and in collaboration with the CCIAT, represents a collaboration between two leaders in the North. Its goal is to expand and strengthen the entrepreneurial ecosystem in North Lebanon and connect it with the broader entrepreneurial ecosystem in Lebanon."

Under this partnership, UOB will provide its facilities, academic expertise, and infrastructure to support the BDC's operations, while BIAT will manage the day-to-day activities, secure funding, and oversee the implementation of incubator programs and SDG-aligned projects. The collaboration will also foster knowledge exchange, helping students gain hands-on experience in entrepreneurship, research, and innovation.

In his speech, Mr. Toufic Dabbousi, President of CCIAT, highlighted the importance of the partnership with the University of Balamand through the agreement with BIAT, which serves as the Chamber's strategic partner in developing human capacities across various fields, in collaboration with the René Moawad Foundation." He added: "It is important for these prestigious institutions to unite in presenting a bright image of our society, where Lebanese individuals prove their success globally. We must work together to empower them to thrive in their own country."

MP Michel Moawad, Executive Chairman of the René Moawad Foundation, emphasized: "Previous experiences have shown that building the country is not achieved by focusing on one region, but rather through diversity and inclusion. Building infrastructure also requires building the talents of individuals to help them realize their full potential. What is happening today is the beginning of a fruitful collaboration between UOB, CCIAT, and BIAT."

This collaboration is an important step towards enhancing entrepreneurship and sustainable development in North Lebanon, as it contributes to providing an environment that fosters innovation and growth. It reflects the commitment of UOB and BIAT to developing a student and entrepreneurial community capable of facing future challenges.

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