Lebanon Businessnews News
 

Berytech Makes another Dream Come True
The incubator will invest in a new Irish company
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URBN is a smart phone application company. It develops travel content for mobile phones, targeting initially travelers in the Middle East and Africa.

Founders, Eamonn Carey and Conor Purcell, presented their idea to Berytech which liked the plan and offered a $100,000 equity investment in their venture, in exchange of a piece of stock.

But the entrepreneurs asked for only $10,000 "which is enough to fund the initial six-month phase of operations," said Carey.

Next month, three URBN staff members will join the Berytech headquarters. Berytech will offer those a six-month free space, with an option to extend their stay for additional six months at reduced rental costs.

URBN is already in discussions with potential clients in the MENA region.

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Date Posted: Feb 19, 2010