Entrepreneurship articles

Teams in MIT hackathon give Lebanon’s virtual salvation their best try

Teams in MIT hackathon give Lebanon’s virtual salvation their best try

Reading Time: 6 minutes The only things that are growing fast are bouts of desperation and the holes in people’s pockets. At least that’s the popular impression of the Lebanese crisis, one that can locally be reinforced by a trip to any supermarket and that has in recent weeks further been exacerbated by superficial and repetitive international media reporting.

Going virtual to survive Lebanon’s financial crisis

Reading Time: 3 minutes IN BRIEF The virtual working model benefits employers and employees. It has the potential to foster decentralized economic growth. It can be a shield for businesses in times of crisis. The political crisis in Lebanon has compounded an economic crisis that has been looming in the shadows for decades. News of business closures, salary reductions,

How Lebanese entrepreneurs can survive the liquidity crisis

Reading Time: 5 minutes IN BRIEF The liquidity crisis requires immediate attention and will likely result in an IMF program, with consequences for poorer Lebanese. In the short term, an IMF-backed loan program would need to create a specialized fund to promote the local private sector and entrepreneurship. In the long term, the government needs to foster relationships between

Hard new looks at the tech ecosystem and its entrepreneurial future

Reading Time: 7 minutes Before the October 2019 uprising, it was not difficult to list unresolved questions and some outright disappointments with the way that the Lebanese entrepreneurship ecosystem had been shaped in the past six years since Lebanon’s central bank, Banque du Liban (BDL), effectively launched it with publication of its Circular 331. In mid-November, amid the uprising,

Lessons from the American entrepreneurship ecosystem

Reading Time: 3 minutes Fostering a supportive culture is key for entrepreneurship. The government needs to create policies that enable entrepreneurship, such as tax incentives and intellectual property rights. Universities in Lebanon need to include real-world, hands-on engagement within entrepreneurship programs. With the current hardships and challenges Lebanon is encountering, the government needs to look to new ways to

Lebanese entrepreneurship requires a robust regulatory framework

Reading Time: 3 minutes Regulation is key for the success of entrepreneurship initiatives. Tax breaks, a regulatory sandbox, and access to finance will aid investment in small and early stage startups in Lebanon. The Banking Control Commission of Lebanon could play a pivotal role in kick-starting the fintech sector through a regulatory sandbox. The High-Level Lebanon-UK Tech Forum, held

New programs offer business, financial help to entrepreneurs

Reading Time: 9 minutes New accelerator, incubator, and grant programs for startups demonstrate a nichificiation of the ecosystem. Many entrepreneurs rely on these programs for financial support and in-kind services, such as office space and mentorship, to develop their young businesses. The ecosystem still has gaps that will need to be addressed to develop further. Since 2013, and the

Lebanon needs fintech regulation to keep up with regional growth

Reading Time: 6 minutes Lacking regulation or access to licensing, fintech in Lebanon proves challenging. While there are fintech-adjacent paths entrepreneurs can pursue, these require partnering with licensed entities, such as banks and financial institutions, which are limited in the number of partnerships they can undertake. Other countries in the region have opened up regulation and created regulatory testing

Houmal Technology Park

Reading Time: 5 minutes Houmal Technology Park (HTP) can be an example of tech manufacture and fruitful entrepreneurialism. Export orientation of tech companies can be realized independently from the Lebanese entrepreneurship ecosystem that relies on Circular 331. First-mover disadvantages of pioneering tech companies need to be compensated by state and municipal partners for creation of productive clusters. Risks pertaining

Technology and agriculture meet in Agrytech

Reading Time: 8 minutes There is a need for innovation and R&D in the agro-industry sector in Lebanon and the region. Agrytech, a program by Berytech focusing on innovations in agriculture, was created to address this need. It has four major pillars including an accelerator program and an agri-food innovation cluster. Agrytech was promoted to university students and graduates

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