Map of the Thriving Lebanese Startup Ecosystem
Beirut City Image via Shutterstock
In a bid to halt the brain drain and boost local employment, whilst recognizing the need to fuel a knowledge-based economy, Banque du Liban (BDL) introduced Circular 331 in August 2014. The Circular hoped to provide a capital injection of over 400 million dollars in the Lebanese entrepreneurship ecosystem.
It is evident that Circular 331 boosted the startup scene, as we’ve witnessed the rise of more startups, accelerators, venture capital firms, and more. With more than $250M available in seed and venture capital, and over 65 investments taking place between 2013-2015, Lebanon is one of the thriving capitals of digital innovation in MENA, supported by BDL’s Circular 331.
Startup ecosystems can be complex and hidden to newcomers, which may have an adverse effect for local startups growth. We’ve mapped out the startup ecosystem in Lebanon that consists of all the stakeholders who make up and drive the startup ecosystem providing entrepreneurs, investors, and new comers with a sequential guide of the ecosystem.
To learn more about the entrepreneurship scene in Lebanon, attend ArabNet Beirut 20th – 22nd February. ArabNet Beirut addresses the Lebanese market and highlights the technology innovation sector in neighboring markets such as Egypt, Jordan, Palestine, Syria and Iraq, home to some of MENA’s top talents. The event also features competitions for promising youths, including Startup Battle (previously Startup Demo), Ideathon and Innovation Avenue (hardware focused).