The UK Lebanon Tech Hub an International Initiative between the Central bank of Lebanon (BDL) and the British Government was set up and launched in April 2015 to help bring International experience and support to the Banque Du Liban Circular 331 initiative. The Tech Hub aims at creating jobs and wealth in Lebanon through internationalizing the growing entrepreneurial movement in Lebanon and channeling energy and resources towards a distinctive Lebanese contribution to the global tech sector.
Since set up the Tech Hub has strived to work with Lebanese entrepreneurs on:
- UKLTH International Accelerator Programme: International acceleration and scaling of Lebanon's top tech companies (both in and outside Lebanon) through London and other global markets.
- UKLTH Academy: Retaining and building the focused and market-ready skilled labor force needed to enhance Lebanon's competitiveness globally in niche areas.
- UKLTH International R&D Facility: Retaining and building both current and future IP breakthroughs by providing the right R&D innovation and commercialization support to achieve a globally recognized flagship for Lebanon.
- National Resource Center: attracting foreign investment into Lebanon, acting as bridge between international demand and high quality supply through Lebanese businesses.
- An internationally-scoped communications platform aimed at restoring a favorable international and expat perception of Lebanon. We have been featured in 200+ articles including most prestigious platforms such as Financial Times, Guardian, BBC World, Management Today, Sunday Times, etc.
- In our first year, we focused on strengthening the Lebanese ecosystem by developing capabilities to accelerate growth. Since our launch, we have contributed to the knowledge Economy by helping Lebanese companies access new investment mechanisms, increase company revenues and create new jobs. Our overarching aim is to create 25,000 jobs and a $1bn ICT sector in Lebanon by 2025. Our workshops, events and business support services have helped over 500 companies and 1500 individuals, whether professionals or students. We have also attracted foreign and expat companies to establish a presence in Lebanon and partnered with seasoned international institutions with incredible track record of supporting development and internationalization such as London and Partners, StartX of Stanford, Municipality of Paris under Paris&Co, University College of London and many more to support Lebanese Entrepreneurs internationalize.
- Along the way we realized that we need to build a sustainable pipeline for Lebanon, a pipeline which will be the backbone of the Lebanese knowledge economy and its potential to excel. There is no better place to start than Lebanese youth in universities and schools. To date, we have engaged 80% of universities in Lebanon and collaborated with public and private schools leading to the launch of the first nationwide school coding competition. 22 schools took part in this competition leading to 67 projects and some promising and exciting outcomes. We conducted a country level startup competition for which we received 96 projects and trained 50 teams of 100 students on turning ideas into businesses.
- The first year of activity is over and we are now preparing for an expansion year. A year that will put Lebanon on the global map, and position it as the regional hub for technology and entrepreneurship. After a full year of research and consultations we have identified the sectors Lebanon [link to flagship report] should focus on for success. We have also identified initiatives the Tech Hub will focus on in order to achieve the goal of 25,000 jobs and $1Bn market size by 2025; these are the International Research Facility, National Resource Center and International Accelerator. All our activity revolves around boosting potential, developing business and connecting hubs. So let’s start transforming together.