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Can Lebanon's entrepreneurship ecosystem survive?

Investasi Emas

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In close proximity to Beirut's explosion site, lies an area that was home to offices of local startups, many of which were already struggling with a collapsing economy and rising social unrest, later coupled with hurdles caused by the Covid-19 outbreak. With the rising pressure on entrepreneurs in the country, will the Lebanese startup ecosystem survive the compounding impact of the recent crises?

The UAE remains the hub of startup activity in the region, but Emiratis still make up less than 3% of entrepreneurs. I n this podcast, Wamda spoke with Ahmed Abdulhakim, founder of the 3fils restaurant group, Salwa Alzahmi, founder of startup SPL Co and professor Ramesh Jagannathan, vice provost for entrepreneurship at NYUAD, who shared their views on why there are so few Emirati entrepreneurs.

When entire cities were put on lockdown, it was the mobility sector that was affected the most, with business demand dropping to zero. The Coronavirus outbreak presented a devastating blow to the bus-related apps in particular, which had prior to the pandemic been one of the fastest growing segments in mobility. Even once demand begins to rise, it may take a while to rebuild investor confidence in the sector.

In case you missed it - here's our round-up from News Watch:

Conektr raises $800,000 in pre-Series A

ElGameya raises pre-seed investment

Sheraa, CE-Ventures grant $190,000 to 11 startups

Shaghalni raises six-figure investment in pre-Series A

Mubadala invests in China's Xpeng Motors

Glamera raises seed investment

iKcon raises $5 million in pre-Series A

eyewa raises $2.5 million pre-series B bridge round

Starzly raises pre-seed investment

Paymob raises $3.5 million

Hub App raises pre-seed investment

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Can Lebanon's entrepreneurship ecosystem survive?

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