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Lebanese-British startup is number one among emerging markets

6-10-2017

The Geneva-based global company promoting startups, Seedstars, ranked the ‘Nucleus’ run by the UK Lebanon Tech Hub (UKLTH) as the best accelerator program in emerging markets ahead of Egypt, India and the UAE. To decide on the rankings, Seedstars gathered data from 44 startups across the developed nations, and the Nucleus program topped the list. The average value of the partaking Lebanese startup companies stood at USD 1,616,667, while noting that the key factor in Nucleus success is that it takes the lowest equity stake (just 3%) in any startup on board. On the subject, the UKLTH executive director, Nadim Zaazaa, pointed out that the conquering result “means we are on the right track. The ranking is an endorsement of the true value of our program to our startups.” To recall, the UKLTH is joint initiative between the Central Bank of Lebanon and the British Government through the British Embassy in Beirut aimed to support the growth of the knowledge-based economy in the country. (for more on the subject, visit the following link: http://www.uklebhub.com/en/Home (Al Mustaqbal, October 5, 2017)

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