Lebanon Businessnews News

Berytech to partner with Silicon Valley
New mutual acceleration program
to be announced soon
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Local incubator and accelerator Berytech is preparing to announce a new acceleration program that will link Beirut to Silicon Valley incubators and accelerators, based in North California, USA.

Nicolas Rouhana, General Director of Berytech said the program is expected to be launched as of Q1 2014, and will address all ICT-oriented entrepreneurs and startups. “Terms and conditions are currently under review.”

Silicon Valley, located in the San Francisco Bay area, is home to many of the world's largest technology corporations, as well as thousands of small startups.

This approach comes in line with efforts aiming at transforming Beirut into a digital capital in the region. David Kirkpatrick, one of the world renowned tech-writers, and founder of a media startup called Technomy, identified Beirut as “a place that is doing particularly good stuff,” during an interview with Techcrunch, an ICT media.

Berytech will also be launching its second fund, by mid-2014. The new fund will focus on creative industries in added value sectors, particularly those related to digital content, movies, music, industrial design, fashion, and renewable energies.

Berytech Fund II has budgeted $25-$35 million for potential innovative startups and SMEs. Berytech Fund I had over $6 million under management.

Reported by Rana Freifer
Date Posted: Dec 30, 2013
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