Lebanon Businessnews News

A UK-Lebanon Tech
Hub to be launched
Fifteen startups to go global
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The British Embassy announced that it will be launching a UK-Lebanese Technology Hub, in January. The joint venture between the British government and the private sector, with the support of the Central Bank (BDL), will help local technology companies create special brands and services.

The Tech Hub will be located in the Beirut Digital District. The investment amount has not yet been set. Fifteen startups working in the knowledge industries, including ICT, creative designs and others, will be selected to travel to London to develop their products, meet professionals, venture capitals, and pitch for investment. Through the UK, they will have access to the global market.

The Tech Hub will have four objectives: Accelerating the development of local companies while creating outreach initiatives across the country, putting them on the right networks, capacity building, and allowing startups to access the global markets through London. All these services will be offered to entrepreneurs free of charge.

“We will put Lebanon’s entrepreneurs on the map, in the heart of the region’s tech industry, drawing on one of Lebanon’s most important sources of resilience, dynamism and hope,” said British Ambassador Tom Fletcher.

This technology hub will represent an opportunity to join the British technology sector with local technology entrepreneurs, Fletcher said.

The announcement of this initiative took place during BDL Accelerate 2014, a startup conference held at Forum de Beyrouth and organized by the BDL for the first time in Lebanon, gathering more than 50 speakers from over 20 countries. The conference has 1800 participants and over 80 suppliers.
Reported by Rana Freifer
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Date Posted: Nov 21, 2014