British government to invest in Lebanon's Tech startups

May 7, 2015: British government and the Lebanon's central bank - Banque Du Liban (BDL) to invest in a two year scheme 'UK Lebanon Tech Hub' that will allow the Lebanon's best talent to come over to London and get mentored as they seek to internationalise their new enterprises.

The Lebanon's fast growing startup tech industry set to leverage the opportunities in Britain and to gain the foothold not only in Middle East, but globally.

While launching the scheme last week, British Ambassador to Lebanon Tom Fletcher thinks the scheme as part of "revolution."

While addressing a huge gathering Tom said: "It is your ideas, your creativity, your talent and your ingenuity that will forge the newLebanon," He further adds, "This is your revolution, not a revolution made with guns, but with innovation."

The Lebanon's BDL too plays an instrumental role by holding series of conference last November bringing entrepreneurs and speakers across the world on a common platform. The accelerate conference took UK government on board and set the new program comes under BDL's Circular 331 scheme, a $400 million fund it set up specifically aimed to help startups. 

At the launch of the scheme, BDL governor Riad Salameh said: "We are committed to this sector and we believe that it will succeed."

Watch the video to know more:

Source: VOANews.com, Image courtesy: Gov.uk

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An Electronics Engineer by education, a part-time blogger by passion. He loves everything about technology, hence he writes about it. Interest includes Technology, Startups and Mobile Applications.