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Lebanese venture capital firms face uncertain future as economy collapses arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Entrepreneurship and the digital economy in Lebanon November 7, 2018 When making the rounds through the Beirut Digital District (BDD) to assess how Lebanon’s entrepreneurship system is developing, there is a lot to observe. Over the past five years, there have been several exercises usually with significant self-promotion and marketing to map this emerging system in all its components. Invariably, such exercises seemed incomplete by the time they were done, simply because the entrepreneurship realm was changing and expanding faster than it could be mapped. Driven into existence by the initiative of Banque du Liban’s Circular 331, from the moment of the circular’s publication in August 2013, the ecosystem has grown with each passing year (with Executive committed to publishing annual observations on its progress). This year is no exception. Regardless of the months of political wrangling in the halls of the Grand Serail and Parliament, and also regardless of deter ....
Still starting up November 6, 2017 Over the past four or five years, it has been conceived, announced, born, developed, mapped, hyped, challenged, expanded, reassessed, praised, mapped again, hyped to excess, and questioned. But all the talk makes it hard to assess the true state of Lebanon’s tech entrepreneurship ecosystem in 2017. Finance in form of the funds mobilized under Circular 331, an initiative by Banque Du Liban (BDL), Lebanon’s central bank, to invest in startups has been the driving force behind transforming a loose collection of tech entrepreneurs into a budding ecosystem, and fund managers say that ecosystem is quietly thriving. Established funds see their portfolios developing nicely, and do not anticipate the pipeline of interesting startups to run dry any time soon, pointing as an example to recent demo days at Smart ESA, an accelerator that was launched in 2016. Flat6Labs and Azure, two new venture capital funds, have experienced more interest t ....