Construction works launched in Tripoli for the first-ever municipality-led business incubator: Isnaed – Tripoli Center Business Incubator Building. The Centre will offer shared workspaces and business development services for entrepreneurs, start-ups and organizations.
Three female architects of the Tripoli Center Municipality spearheaded an inspiring and spacious design for the first Isnaed Business Incubator, led by Tripoli Municipality and located on Al Mansoura Street in the heart of Tripoli. With construction expected to conclude in the third quarter of 2023, the Business Incubator will offer an enabling environment for entrepreneurs, start-ups and creative businesses to develop business ideas in shared working spaces, and take advantage of onsite business development services, assistance in registration, tailored business courses, as well as access to networks, markets and finance opportunities. The name ‘Isnad’ was collaboratively chosen through a discussion between the Ministry of Local Governance (MoLG), the Municipality, local communities, and youth, and symbolizes the entrepreneurial spirit and unifying vision of the building.
The Isnaed Business Incubator is a bold step towards decentralization and enhanced coordination between municipalities, the private sector, civil society, and the central government. It symbolises of hope and progress for the citizens of Tripoli and beyond.
“Libyans have shown outstanding creativity and resilience in realizing start-up ideas over the past years, including some very innovative and forward-looking projects for a greener economy. Business incubators offer them the necessary assistance so they can focus on their core business and connect with partners and new markets. The EU is proud to support entrepreneurs and innovation in Libya.” said EU Ambassador José Sabadell.