Improving Market Access and Increasing Demand and Investments
To stimulate global demand for Palestinian IT services
This component aims to stimulate global demand for Palestinian IT services by reducing information costs, search costs, and transaction costs among international buyers, investors and local firms. It also seeks to stimulate demand by brokering collective action and deals among international buyers, international investors and local firms. This component includes two subcomponents, which are:
Awareness Raising and International Market Linkages: TechStart will facilitate strategic connections between Palestinian IT companies and potential international clients and partners, aligning local capabilities with global market demands. We will identify potential export opportunities and provide tailored coaching and support to ensure successful connections. The goal is to empower Palestinian firms to independently navigate and thrive in the international marketplace.
Promotion and facilitation of FDI in the Palestinian ecosystem: This track will promote and facilitate Foreign Direct Investment (FDI) in the Palestinian IT ecosystem. It will also attract FDI from global companies either in the form of investments in existing firms or in the form of subsidiaries
Horizons Activities
Overview
This group matches Palestinian IT firms with BDEs who have the necessary expertise in specific target markets abroad and will provide support by assisting firms in initiating connections between the firms and potential buyers and partners, identifying business opportunities in target markets, understanding the competitive landscape and main stakeholders.
Who can benefit from this grant:
Be a company legally registered and operating out of the West Bank; or in the process of legal registration; or committed to register with Ministry of National Economy.
Firms are IT services companies and business service providers working in the technology field in software development, computer programming and consultancy, data processing, hosting or related activities, or mature tech / tech-enabled startups that have some traction in the market and are already generating revenues.
Be operational for at least 6 months prior to applying to the program. A company is considered operational if it engages in activities daily to increase the value of the enterprise, has existing customers, or has employment contracts and paying salaries.
Projects must have minimal or non-existent environmental impacts.
Period of coverage: Up to Six months
Coverage amount/percentage: TechStart will cover up to 50% of the BDE salary. Small-sized and female-owned/ed companies can get up to 70% coverage.
Women and youth-led/owned business, and firms operating in rural areas that meet the criteria are encouraged to apply
Companies Selection Criteria
Firm should provide a commercially sound business plan and evidence of growth potential.
Firm has experienced and complementary leadership including a business development or sales team.
Firm has a distinct and market-ready product or service offering, which is well documented and promoted.
Firm has a clear and specific target market (geography and industry).
Firm should provide initial market research and justification for specifying their target market.
Firm should explain the need for a BDE.
Firm should indicate desired results from engaging with a BDE.
Business Development Expert Selection Criteria
Provide evidence of expertise in a specific target market (for example: previous assignments, contracts)
Demonstrate sales, marketing, and/or business development experience.
Reside or have recently resided in target market for a significant amount of time that allows for familiarity with the target market.
Demonstrate considerable professional network in target market.
Have a deep understanding of business culture, legal, and compliance requirements for companies to operate in target market.
Possess excellent written and verbal communication skills.
Capable of coaching and mentoring firms.
The provision of this grant is subject to fund availability.