A body for encouraging : entrepreneurship ecosystem : Tripoli entrepreneurs club case study

Abstract

Since 2019, Lebanon has been facing a grave economic crisis, causing obstacles for the nation and its entrepreneurial ecosystem. Despite the challenges presented by the country's political and economic situation, the entrepreneurial ecosystem in Lebanon has witnessed substantial progress and transformation, thanks to a persistent community of innovators. In such a scenario, TEC has emerged as a prominent figure in promoting entrepreneurial growth, particularly in Tripoli. TEC strives to develop a flourishing entrepreneurial culture by offering vital resources, mentorship, and networking prospects to budding entrepreneurs. TEC managed throughout these difficult times to play a crucial role in driving innovation, job creation and socioeconomic development in the region. Our research, through inductive approaches in this case study, aims at examining what where the most significant challenges faced by TEC in this period, what strategies did TEC implement to overcome these difficulties, what impact did TEC have on its community and how was this impact measure and finally, to what extent has TEC's work influenced the entrepreneurial community in Lebanon and the most important lessons learner. The objective of our study is to analyze the primary obstacles encountered by TEC within a defined timeframe. The present study aims to investigate the strategies employed by TEC in order to surmount the aforementioned challenges. Furthermore, an examination will be conducted on the effects of TEC on its surrounding community, as well as the methodologies employed to assess said effects. Ultimately, an evaluation will be conducted to determine the degree to which TEC's endeavors have impacted the entrepreneurial landscape in Lebanon, while also pinpointing the primary takeaways. The findings of this study show that the most significant challenges were economic instability, limited funds, remote working, and basic needs versus technological advancement. To overcome these problems, TEC relied on the following strategies: initiatives to encourage entrepreneurs in challenging times, mentorship and coaching for entrepreneurs, rapid adaptation to remote working and support entrepreneurs, shifting focus towards addressing basic needs rather than solely technological advancement. Measuring TEC’s impact is mainly captured through stakeholder satisfaction, job creation and entrepreneurship education. The key for this success was of course persuasive team and spreading positivity as well as being flexible and focusing on finding solutions to pressing problems to conquer the obstacles that persistently confront a country such as Lebanon.