Birzeit University Signs Memorandum of Understanding with Mena Apps
Birzeit University signed a Memorandum of Understanding (MoU) with Mena Apps on June 15, 2013, aiming to launch an incubator and an investment fund with a capital of $1 million.
As part of Mena Apps efforts to promote investment in startups and provide funding opportunities for technology driven business ventures with special attention to student startups and campus enterprises, Apps signed the MoU.
The MoU also stipulates the creation of an enabling ecosystem that protects and supports entrepreneurs and investors alike, through creating a network of mentors “Palestine Mentors Network,” who will work closely with entrepreneurs to guide and support them during the first few turbulent cycles of their business, in addition to setting-up an angle investor and seed funder network “Palestine Seed and Angel Investors,” who will provide initial and vital startup capital for the startups to grow and prosper.
The investment fund will be managed by a board of representatives from Birzeit University, Mena Apps, and other business and investment professionals with international experience in managing incubators and investment funds.