Lebanon is a country that is renowned for its excellent educational institutions, for its creative and design sector, its financial institutions, as well as its engineering sector. It’s a country filled with highly talented individuals who are entrepreneurial by nature.
In recent years, we’ve seen a rise in many dedicated organizations that have been working hard to promote and nurture innovative business leading the startup ecosystem to develop.
Lebanon is not only geographically ideally located as a gateway to the Arab world, Africa, and Europe but it also has very strong links to countries such as France, London and a few GCC countries. This benefits Lebanon since it is able to provide startup companies with global access to capital and investors.
The crucial support of BDL Circular 331, a policy that requires banks to invest up to 3% of their deposits into Lebanon’s startup ecosystem, resulted in a US $500 million fund to be invested into startups over the next 5 years. The Lebanese startup ecosystem has been thriving and has great potential to become the startup world’s gateway into the Middle East as well as the launch pad for Arab tech companies.
*Source: The National
