UK Lebanon Tech Hub to boost Lebanese start-ups in MENA
UK Lebanon Tech Hub announces partnership agreement with 1776 to help Lebanon technology start-ups
The UK Lebanon Tech Hub (UKLTH) has unveiled the signing of a partnership agreement with 1776 to support Lebanon's tech start-ups.
The UKLTH is a joint initiative by Banque du Liban (Lebanon's Central Bank) and the UK Government and 1776 is a Washington, DC-based public benefit corporation, and together they aim to help start-ups break into new international markets such as the UAE and the neighbouring Gulf countries.
Start-up companies will be jointly selected by UKLTH and 1776 for an acceleration program in Dubai based on: a scalable business model; sectorial focus such as EdTech, FinTech, digital health, and smart cities; socio-economic impact; and readiness to enter international markets.
Colm Reilly, CEO of the UK Lebanon Tech Hub, said: "Start-ups wanting to scale and expand their business to new MENA markets should be able to understand those markets and be connected to networks that will help them in their continuous growth. For those reasons, we are basing some of our best start-ups in Dubai for a three months period, working with the 1776 team to help bring those networks and create that growth."
Evan Burfield, cofounder and CEO of 1776 added: "We are looking to collaborate with incubators and accelerators from across the MENA region and are pleased to have signed the first formal partnership with UKLTH. 1776 Dubai will be a first point of entry into the UAE and GCC markets for its ‘scale-up' start-ups, in addition to enabling them to establish connections with targeted customers, investors and regional and international media based in Dubai."
The partnership provides UKLTH start-ups with access to 1776's global digital platform Union, and includes learning resources and a global network of mentors and investors. Plus a branded working space at the 1776 Dubai campus alongside the Dubai Future Accelerators (DFA) with access to all campus programming; UKLTH exclusive activities on campus; in addition to active participation during the annual 1776 Challenge Cup global startup competition.