“…it seems to have been reserved to the people of this country, by their conduct and example, to decide the important question, whether societies of men are really capable or not, of establishing good government from reflection and choice, or whether they are forever destined to depend, for their political constitutions, on accident and force.”…
Forever younger, forever on a quest
2018 has been a better year for startups
Lebanon’s startup ecosystem is in much better shape today than 10 years ago, thanks in large part to Circular 331 from Banque du Liban (BDL), Lebanon’s central bank. We at B&Y Venture Partners have invested in some fantastic companies with exceptional founders and are very pleased with the quality of our portfolio to date. Most…
The growing pains of Lebanon’s entrepreneurship ecosystem
Despite the one big news story that dominated watercooler conversations in entrepreneurship circles, the community at large had a comparitively good year. The quality and quantity of startups has increased, as witnessed at multiple demo days throughout 2018. Several exciting international and regional events were staged in Beirut, some for the first time. There is…
Is there a real estate crisis?
Since at least 2014, the country’s real estate developers have been warning of troubling times ahead. The sector slowdown had begun much earlier, as Executive reported in its October 2018 real estate special report, and sector stakeholders have, for several years now, expressed hope that the next year would be better—repeating this mantra, as if…
Lebanon’s entrepreneurship ecosystem
Lebanon’s entrepreneurship landscape has “leapfrogged” since August 2013, when Banque du Liban (BDL), Lebanon’s central bank, released Circular 331 that authorized Lebanese banks to invest in new startups in the knowledge economy. This policy has spurred the development of new growth capital funds and the entry of commercial banks into the equity market, unleashing (theoretically)…
Lebanese startups in need of investments
Historically, Lebanon’s economy has in large part depended on services, including tourism, F&B, financial services, education, and design. In addition, Lebanon has a strong agriculture sector that constitutes another pillar of the economy. Still, these services and resources are limited in scale due to the scarce availability of local resources, whether natural or human. As…
All Lebanese must do their part to help revive the agricultural sector
Agriculture in Lebanon needs a revolution, and we should all be part of it. The sector is facing major challenges: Land is less farmed, younger generations are increasingly uninterested in farming, and national support for the sector is limited mainly to international donors’ programs, with little coordination with the Ministry of Agriculture to develop a…
The UNIDO view on Lebanon’s industrial sector
History shows that roughly all developed countries, which currently benefit from a high standard of living, have gone through a period of successful industrialization—during which the industrial sector, benefiting from high levels of technological advancement and innovation, was the driving force behind national economic growth. A close look at Lebanon’s development pattern tells a different…
Wine producers discuss domestic consumption
Sipping on a glass of Lebanese wine has value beyond the drinker’s enjoyment. As Edouard Kosremelli, general manager of Château Kefraya, puts it, drinking Lebanese wine supports the economy since thousands of people are either directly or indirectly employed by the wine sector. Lebanese wine encompasses three industries (agriculture, industry, and hospitality and tourism), and…
Infographics
Nicholas Chammas talks current Lebanese trade situation and the way out
On a rainy day in mid-November 2018, Executive sat with the head of the Lebanese Traders Association, Nicholas Chammas, to hear his thoughts on the retail and trade sector in Lebanon. Given the amount of text messages Lebanese receive on a daily basis from stores announcing the latest promotion or the ever-increasing number of discount…
Zomato’s journey in Lebanon
When Deepinder Goyal and Pankaj Chaddah were just food-enthusiasts collecting delivery menus in Mumbai to post online, it is safe to say they did not expect their idea to grow into Zomato, the F&B behemoth we know today. Ten years and 24 countries later, Zomato’s decisions remain guided by one simple mission: to provide better…
Lebanon, expose those hidden gems
In its 2018 “Lebanon Overview” report, the World Bank stated that “GDP growth in Lebanon in 2017 is estimated to have undergone a slight acceleration to reach an estimated 2 percent, compared to 1.7 percent in 2016. This has been mainly driven by the services and tourism sectors.” This year, GDP growth slowed again, down…
Venture Group talks expansion of their hospitality cluster model in Lebanon and beyond
Marwan Ayoub and Rabih Saba—and their hospitality company Venture Group, specialized in developing and operating purpose-built restaurant clusters—have covered a lot of ground in the past seven years. Today, their team is playing in the premier league of regional hospitality. Geographically and financially, Venture Group’s cluster business started small. In 2011, Ayoub and Saba began…
Lebanon’s seasoned F&B operators talk challenges and secrets to success
When it comes to the food and beverage (F&B) industry, Lebanon is a country of contradictions. Although no exact figures are available, those in the industry largely believe that almost the same number of restuarants that closed have also opened. In certain areas, such as the summer hotspot Broummana or in Gemmayze with its restaurants,…