Empowering Entrepreneurs and Building Resilience: MENACatalyst's 2024 Year-End Report

Empowering Entrepreneurs and Building Resilience: MENACatalyst's 2024 Year-End Report
22 Nov 2024
Empowering Entrepreneurs and Building Resilience: MENACatalyst's 2024 Year-End Report

Key Message

As we reflect on 2024, I am proud of MENACatalyst’s progress in empowering Palestinian entrepreneurs and building a resilient ecosystem for innovation and sustainable growth. This year, we have turned challenges into opportunities for Palestinian youth, women, and startups, unlocking potential and making a lasting impact on livelihoods and economic resilience.

Our success is thanks to the invaluable collaboration with our partners, the Palestinian diaspora, and the continued support of our funders. Together, we are not just building businesses but shaping a future where Palestinian entrepreneurs thrive globally. As we look toward 2025, we are committed to expanding our efforts and creating more opportunities for innovation and growth across Palestine and the MENA region.

On behalf of the entire MENACatalyst team, I want to express our deep gratitude to all those who have supported us. With your continued partnership, we are excited to empower the next generation of leaders, innovators, and change-makers.

However, we must also acknowledge the difficult economic realities facing our community. As reported by UNCTAD in September 2024, the ongoing conflict and destruction in Gaza and the West Bank have severely impacted the economy. Gaza’s GDP collapsed by 81% in late 2023, and the West Bank has seen a 19% contraction in GDP. Youth unemployment has skyrocketed, exacerbating the already high levels of economic hardship.

Despite these challenges, MENACatalyst remains dedicated to its mission of empowering Palestinian entrepreneurs and building resilience. With continued support, we will overcome these obstacles and work toward a more prosperous future for Palestine.

Ghassan Amayra
Director, MENACatalyst Foundation

Highlights from 2024

As 2024 draws to a close, MENACatalyst reflects on a year of transformative impact, marked by innovative initiatives, strategic partnerships, and a steadfast commitment to empowering Palestinian entrepreneurs. This year, we focused on addressing critical challenges, driving digital innovation, fostering sustainability, and strengthening Palestine’s entrepreneurial ecosystem. With the unwavering support of our partners, we have successfully launched programs that equipped youth with the skills to thrive in a digital-first world, supported startups in accessing global markets, and championed green business practices. In this report, we share key accomplishments, insights, and our vision for the future as we continue to empower change-makers across Palestine and the MENA region.

Youth Empowerment and Digital Innovation

  • Jobs for Unemployed Youth in Northern West Bank:
    In 2024, MENACatalyst launched a vital training program that reached 200 young individuals in Nablus, providing them with essential skills and facilitating job placements to reduce poverty and create sustainable employment opportunities.
  • Palestine Youth Digital Innovators Program:
    Targeting youth aged 14-17, this program empowered 100 marginalized Palestinian youth with critical digital and entrepreneurial skills, preparing them to thrive in an increasingly digital world.
  • MENA-Innovates Program:
    By delivering STEAM and 21st-century skills training to 200 youth across the MENA region, this initiative tackled pressing challenges such as climate change and social inequality, equipping participants with the tools to lead innovative change in their communities.

Promoting Sustainability and Green Growth

  • Green Growth Palestine:
    This two-year program supports 100 MSMEs in adopting sustainable practices and accessing green financing. Tailored advisory services in business, finance, and legal fields are enhancing their competitiveness while promoting environmental sustainability
  • Strengthening Ecosystem, Enterprise, and Diaspora:
    This three-year program continued to support 12 startups and 3 innovation hubs focused on social, environmental, or cultural missions. Leveraging the expertise of the Palestinian diaspora, these startups gained mentorship, resources, and market access, positioning them for long-term growth and success.

Organizational Growth and Governance

  • Performance Excellence and Capacity Development:
    Thanks to strategic funding from international partners, MENACatalyst has enhanced its capacity through improvements in project management, monitoring, evaluation, and advocacy, enabling the organization to deliver more impactful programs effectively.
  • General Assembly Meeting (Palestine Catalyst Chapter):
    In November, MENACatalyst held its General Assembly Meeting, bringing together 17 members to reflect on accomplishments, discuss future plans, and elect a new Board of Directors. The newly appointed seven-member board will guide MENACatalyst’s mission for the next three years, focusing on innovation, global market connections, and fostering a vibrant entrepreneurial ecosystem.
  • MENACatalyst Sweden (MENACatalyst Sverige):
    The Swedish chapter convened three board meetings throughout 2024, where strategic directions for the next three years were discussed, reinforcing its commitment to supporting Palestinian entrepreneurs.
  • MENACatalyst Foundation USA:
    In partnership with Latham & Watkins USA, the Foundation secured pro bono legal services, improving operational efficiency and strengthening U.S.-based partnerships.

Impact Metrics for 2024

  • Empowered 300 youth across Palestine and the MENA region with essential digital and entrepreneurial skills.
  • Business and legal services are actively in progress to support 100 MSMEs in adopting sustainable and environmentally friendly business practices.
  • Engaged over 200 beneficiaries in skills development and employment programs, fostering economic opportunities.
  • Initiatives are actively in progress to connect 12 startups with diaspora investors and mentors, fostering growth and driving innovation.
  • Strategic efforts are in progress to strengthen the capacity of three innovation hubs in Palestine, aiming to empower promising entrepreneurs and cultivate a dynamic entrepreneurial ecosystem.

Looking Ahead: 2025 and Beyond

MENACatalyst is committed to furthering its mission of fostering innovation and empowering entrepreneurs. With the ongoing support of our partners, international donors, and business philanthropists, we are poised for significant expansion in 2025. Our key objectives for the year include:

  • Supporting 12 high-potential startups to access international markets and secure investments.
  • Launching new virtual training programs for marginalized youth to enhance digital and entrepreneurial capabilities.
  • Growing the Diaspora Business Network to enhance cross-border collaboration and mentorship.
  • Enhancing the entrepreneurial ecosystem through capacity-building, strategic private sector partnerships, and diaspora expertise to empower promising entrepreneurs and cultivate sustainable growth.
  • Advancing sustainability efforts through the Green Growth Palestine program.
  • Establishing a membership-driven platform to formalize and expand our growing network of diaspora contributors. This platform will empower diaspora communities to make meaningful, lasting contributions to Palestine’s entrepreneurial ecosystem, creating a lasting legacy of innovation and economic growth.

A Message of Gratitude

We extend our deepest gratitude to our members, partners, funders, and the global Palestinian diaspora for their unwavering support and trust in our mission. Together, we are building a resilient, inclusive, and sustainable entrepreneurial ecosystem that will uplift communities and empower future generations.

MENACatalyst Team
December, 2024