Ansar Tomizy – Palestine Economy Portal

Translated by Tamara Barakat

The business incubator established by the Hebron Chamber of Commerce and Industry (HCCI) gave all citizens the opportunity to submit applications for financial and managerial support to their projects. The best projects are chosen and funded with around $5,000 – 15,000. They are also provided with constant follow-up and guidance to ensure their success.

According to statistics and studies conducted by the HCCI, 70% of owners of entrepreneurial projects in Ramallah were originally from Hebron, which prompted the Chamber to create its own business incubator to help the creative and entrepreneurial youth in Hebron.

Jawad Al-Sayyed, chair of the HCCI, told the Palestine Economy Portal that lack of funding and technical and managerial expertise causes many small businesses to fail. Consequently, the business incubator will provide all the funding and financial, managerial, and technical expertise and consultation needed for a small business to succeed. It will also provide an interim headquarters for the business and preliminary funding.

The HCCI Business Incubator is funded by Taawon (Welfare Association) with $200,000, as well as by a group of various partners including the Chamber itself, Palestine Polytechnic University, Hebron University, and Leaders Organization.

Anyone interested in applying to be supported by the business incubator must ensure that their idea is applicable, employs two people, and involves working within a homogenous team, the last of which is the most important for the success of a business.

Al-Sayyed affirmed that the HCCI will make sure that investors will keep providing funding for the incubator’s projects even after the start-up period is over.

Palestine Polytechnic University’s business incubator offers $5000 in financial support, as well as training, empowerment, office space, and networking with donors and funders. So far, it has supported eight initiatives, the last of which was “Jadara.” According to Ali Ramadan, coordinator of the business incubator, these initiatives involved 20 projects with about 850 beneficiaries.

Hebron Municipality’s business incubator supported 4 projects within the first year of its work, and will be selecting 6 other projects by the end of this year or the beginning of 2017. This incubator does not provide financial support, but offers training, interim office space, and help in seeking funding.

Small- and medium-sized businesses contributed with 95% of the Palestinian GDP in 2012, according to statistics. Additionally, there were around 13,373 small business and enterprises in Palestine in 2012.