The Maroun Semaan Faculty of Engineering and Architecture (MSFEA) at the American University of Beirut (AUB) and Resource Group, a technology investment group, today announced the establishment of the Resource Group Entrepreneurship Awards, two new start-up awards in cybersecurity and information privacy (CSIP).
The Resource Group Entrepreneurship Awards will be granted on a yearly basis to two start-up ideas submitted by MSFEA/AUB students. The winners will be selected by a jury of academics and professionals.
Each award includes direct monetary support for the implementation of the student start-up and for the research and development (R&D) fund of the supervising faculty member(s).
The partnership between AUB and Resource Group comes at a time when Lebanon is facing extraordinary challenges, caused by a severe social and economic crisis, and the repercussions of the August 4 explosion, which are prompting an unprecedented number of young people to leave the country.
The establishment of the Resource Group Entrepreneurship Awards speaks to the resilience of the nation. It also underlines the role of the private sector in supporting educational institutions that are essential to developing human talent and fostering innovation and creativity.
This partnership also underscores Resource Group's commitment to social responsibility, to empowering youth, promoting entrepreneurship, and giving students the opportunity to grow and implement their ideas in their motherland.
“We are pleased to partner with AUB to support students as they advance on their educational and professional paths," said Hisham Itani, chairman and CEO of Resource group. He continued, “By supporting MSFEA's Entrepreneurship Initiative and launching the Resource Group Entrepreneurship Awards, we are not only empowering youth with knowledge but also providing them with the needed tools and support to bring their start-ups ideas to reality. Promoting creative human capital and fueling innovation capabilities will contribute to developing the knowledge economy in Lebanon. We believe that the collaboration between the private sector and educational institutions has never been more pressing to infuse a glimmer of hope into younger Lebanese generations."
Dr. Ayman Kayssi, professor of electrical and computer engineering at MSFEA, stated that the faculty has a long history of graduating the finest engineers, architects, and designers in Lebanon and the region. “Today, we are proud to also be recognized as a hub of research and development in cybersecurity and information privacy. The Entrepreneurship Initiative positions MSFEA as a powerhouse of innovation and prepares MSFEA students and faculty to establish their own start-ups. The initiative builds on MSFEA's strengths in creative human capital, state-of-the-art facilities, a strong mentor and alumni network, and access to seed funding. This partnership with Resource Group comes at a tough time for Lebanon and emphasizes our shared commitment to support students and graduates, and their future in the country."
The two awards will inspire hope and strengthen resilience in young people who are eager to move forward and succeed, but who need educational and material support along their journey to make their dreams come true.
The Resource Group Entrepreneurship Awards will be granted at the end of the spring term. The MSFEA Entrepreneurship Initiative will provide any needed coaching to start-up teams in CSIP composed of MSFEA faculty member(s) and graduate and/or undergraduate students working on innovative R&D projects in the CSIP space.