Lebanon Businessnews News

UK Lebanon Tech Hub partners with US incubator, 1776
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The UK Lebanon Tech Hub (UKLTH), a joint initiative by the Central Bank (BDL) and the UK Government, has signed a partnership agreement with 1776, a Washington DC-based public benefit corporation and the first international technology incubator to set up a direct presence in the Middle East and North Africa (MENA) region.

The partnership aims to help local tech startups break into new international markets, particularly the Arab Gulf region where 1776 recently opened its Dubai campus.

Startup companies will be jointly selected by UKLTH and 1776 for an acceleration program in Dubai based on a scalable business model, sectorial focus such as EdTech, FinTech, digital health, and smart cities, socio-economic impact, and readiness to enter international markets.

Colm Reilly, CEO of the UK Lebanon Tech Hub, said: “Startups wanting to scale and expand their business to new MENA markets should be able to understand those markets and be connected to networks that will help them in their continuous growth.”

Evan Burfield, cofounder and co-CEO of 1776, said: “1776 Dubai will be a first point of entry into the UAE and GCC markets for its ‘scale-up’ startups, in addition to enabling them to establish connections with targeted customers, investors, and media based in Dubai.”

The partnership provides UKLTH startups with access to 1776’s global digital Platform Union, a learning resources and investors’ network, which was launched at the 2016 Global Entrepreneurship Summit. It will also provide access to UKLTH activities on campus, in addition to participation during the annual 1776 Challenge Cup global startup competition.

The first batch of UKLHT startups to be based at 1776 Dubai includes Kamkalima, a web-based platform that helps teachers create engaging assignments in Arabic, Riego, a maker of solar-powered irrigation devices, and Artscoops, an online auction and sale channel for art buyers.

Reported by Derek A. Issacs
Date Posted: Nov 23, 2016
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