SHANDA CONSULT

NEWS

UK Lebanon Tech Hub receives $ 3.2 million from Central Bank of Lebanon

Published on: 11/07/2017

The Central Bank of Lebanon provided a fund of $ 3.2 million as an investment for the UK-Lebanon Tech Hub (UKLTH). The same amount was provided by the British Embassy in February this year, which totals to $ 6.4 million.

ul_lebanon_cyprus_company_850

The funds will be used to foster the entrepreneurial ecosystem and to improve the knowledge economy in the country, said Dimitry Papadimitriou, Acting Director of UKLTH London office.

The UK Lebanon Tech Hub is an international initiative, offering several activities to support SME-s and entrepreneurship in Lebanon with the aim to increase GDP and to create new jobs in the country. It was initiated by Banque Du Liban and the British Embassy in Beirut.

It provides UK expertise and exposure to support the development of knowledge economy in Lebanon.

The UKLTH’s activities are focused around the following programs:

  1. Accelerator or Nucleus

    It is a recently launched venture building program. The objective of the program is to offer financial support to early stage startups to turn their tech ideas into marketable products in 3 months.

    The selected companies receive $ 50.000 in investment; $ 20.000 in cash and $ 30.000 in services like office space, workshops, board meetings etc.

  2. Capacity Building & Signposting Programme

    The programme provides training and mentoring to companies, investment professionals and to banks to increase their knowledge in managing and investing in tech companies.

    The signposting service helps to find the right candidates for companies to fill their positions, it makes referrals and introductions to potential partners/clients/suppliers.

  3. Outreach Programme

    It supports the development of strategic partnerships between the UK and Lebanon and promotes entrepreneurship in Lebanese schools and universities.

 

Shanda Consult focuses on cross-border industrial investment consulting for EU investors investing in the Middle East and other countries. Our firm’s services include the search for suitable joint-venture partners in the investment target countries. Additionally, we are assisting industrial project owners from the Middle East to find appropriate joint-venture partners or strategical investors from Germany, Switzerland and Austria and to decide on the best suitable corporate structure.

For any inquiry regarding Middle East and EU markets for your business needs or any investment related consultation please feel free to contact us.

 

Source: UKLTH, Businessnews.com.lb