The European Bank for Reconstruction and Development (EBRD) has launched its Star Venture programme in the West Bank and Gaza to help high-potential start-ups improve their business performance, grow, and unleash their potential.

The West Bank and Gaza are the 23rd economies to join the Bank’s program, dedicated to boosting the competitiveness of the early-stage ecosystem across its regions. Five start-ups were selected as the inaugural cohort following a competitive and rigorous selection process. From e-commerce to green tech, the companies span diverse sectors and are advancing their businesses with the latest technologies, paving the way for future innovations.

Star Venture mobilizes a network of mentors and advisers to deliver a whole range of bespoke advisory services to start-ups. Through workshops, mentoring, access to finance, and market development, the programme helps start-ups overcome their obstacles to growth and boost their skillsets. Local accelerators will also benefit from mentoring and capacity-building for training and improving the business performance of their own start-up cohorts.

Start-ups in the West Bank and Gaza face a variety of challenges, including low levels of funding for early-stage companies and a lack of business consulting and mentorship opportunities. Star Venture helps young companies remove some of these systemic barriers by connecting them to a network of investors interested in the early-stage space.

Luxembourg supports the Star Venture programme in the West Bank and Gaza through the ​EBRD West Bank and Gaza Multi-Donor Account (other donors to the account include the Netherlands, Spain and the United Kingdom).

Gretchen Biery, EBRD Head of the eastern Mediterranean region, said: “We are proud to bring the Star Venture programme to the West Bank and Gaza, where it will play a key role in supporting Palestinian start-ups and fostering the wider ecosystem. Star Venture’s portfolio boasts some of the most innovative start-ups, and I am certaint that we can replicate the success we have seen in other regions.”

Arsène Jacoby, Alternate Governor for Luxembourg, added: “Innovative high potential start-ups are at the heart of a thriving and dynamic SME sector. They are key in supporting job creation, financial growth, economic resilience, and regional development. Luxembourg is honored to partner with the EBRD and finance the roll-out of the Star Venture programme in the West Bank and Gaza.”

The Star Venture programme operates in 23 economies where the EBRD invests and, to date, has supported more than 650 start-ups, including high-potential ones that have successfully raised over US$ 420 million in financing.