by khaleejtimes.com – Dubai offers Lebanese tech start-ups the opportunity to gain global
exposure and investment at one of the world’s most influential
technology events, Gitex Technology Week. Significant investment
is accelerating Lebanon’s $400 million knowledge economy, which could
add 25,000 ICT jobs and contribute $7 billion to the country’s GDP by
2025, according to a report by the UK Lebanon Tech Hub.

Complementing
international aid efforts in start-ups, in 2014, the Banque du Liban
instituted Circular 331, which provides a potential $400 million
stimulus for start-ups. The programme reduces risk by guaranteeing up to
75 per cent of commercial banks’ equity investments in venture
capitalists or startups. In addition, the Beirut Digital District is
providing advanced infrastructure and a supportive ecosystem for
technology businesses.

“Lebanon’s strong educational standards
and embrace of innovation are driving rapid growth in technology
companies and start-ups. The next step for Lebanese tech innovators is
to partner with multi-national companies and investors, with Gitex
Technology Week providing the keystone for connecting Lebanese companies
to emerging markets and investors around the world,” said Louis
Guelette, member of the advisory board at the Beirut-based Midis Group,
an IT services and solutions provider that operates in emerging markets.

– business@khaleejtimes.com