06.02.2017 to 12.02.2017
LocationWest AsiaWest Europe
Lebanon is uniquely poised for startups that aim both at the Arab world and the wider world at large. Being one of the most liberal states in the MENA region (Middle East and North Africa), Lebanon has everything it needs: a highly entrepreneurial culture, experienced incubators and accelerators, venture capital, favourable government policy and access to growth funding. The Lebanese tech scene is now officially on the map!
While there is still potential for consumer and investor confidence to increase due to some regional instability, a positive development for all Lebanese startups has been made through recent decisions by the Central Bank that will boost Lebanese startups’ competitive edge through huge investments. The rise of the local startup ecosystem is not only supported by its relatively liberal culture, its multi-language society and its reputation as a cultural engine of the Middle East. Lebanon has also one of the best educational sectors in the Arab World with more than 18 universities and tech campuses.
Beirut is using its culture of freedom, its diversity, its low-cost high living standards and its location to its advantage in the Arab region attracting a number of successful entrepreneurs generating new startups at a lively rate. Furthermore, the wider ecosystem is also buzzing with accelerators and events such as Co-Working 961, Startup Bootcamp, Startup Megaphone, SETT, Speed Lebanon and ArabNet.
One of the attractions of the tech scene in Beirut is the city itself. The city’s restaurants, bars and clubs, equal anything you find in London or Berlin. (Sources: Forbes 2015, Venture Magazine 2015, Techcrunch 2015)