Under the auspices and in the presence of H.E. Mr. Nicolas Nahas, Minister of Economy, H.E. Mr. Nicolas Sehnaoui, Minister of Telecommunications, and Chairman and CEO of Berytech, Mr. Maroun N. Chammas, Berytech announced in a press conference held at its newest and third Business development Center, in Beirut Digital District, its latest investments in three new startup companies in the technology sector.
Businessmen, aspiring entrepreneurs, startups, SMEs, Berytech partners, representatives from public sector, in addition to bankers, and members of the media attended the conference.
The founders of Berytech funded companies had the opportunity to showcase their innovative venture, emphasizing on the major role played by Berytech to accelerate the development of their startups.
The 3 entrepreneurs included:
•Ziad Sankary, founder of Cardio Diagnostics, presenting a pioneer technology device, for cardiac monitoring.
•Houssam Kayal, founder of Cook and Eat, an online growing community in cooking field, presenting added-value services and features.
•Fadi Dabbagh, founder of Mistile, offering an online shopping platform with a selection of worldwide luxury brands at discounted prices.
The three young and motivated technology entrepreneurs were selected among others in last November owing to their projects’ innovation and feasibility, bringing the total number of investments concluded by Berytech Fund to fifteen. In addition, Berytech is intending to create and launch a bigger Investment Fund which is planned early 2014.
Commenting on this investment, Chairman and CEO of Berytech, Mr. Maroun N. Chammas, delivered a welcome speech, in which he affirms, “Other investments made in Lebanon in recent months included a $5m investment in technology as well as other fields such as health and social services.” Stressing, “Investments in technology would help create new jobs for Lebanese youths.”
He added, “A second fund for technology, set up in collaboration with the Central Bank, would be launched early in 2014.”
Minister of Economy, Mr. Nicolas Nahas, discussed the current Lebanese economic scene and said, “We still have to do a lot to create 23,000 jobs each year in order to absorb new university graduates. It is very important to support programmes and initiatives encouraging entrepreneurship, to accelerate economy revival. Nahas also underlined the importance of complying fully with copyright laws in order to protect the technology and ICT industries in the countries. He also mentioned that support programmes for SMEs are currently being developed in the ministry.”
Minister of Telecommunications, Mr. Nicolas Sehnaoui, highlighted that his ministry had invested an important budget in infrastructure and discussed with the central bank ways to finance the technology and telecoms sectors in Lebanon.
“We need to keep the digital economy away from politics. The digital economy does not belong to any political group or sect. we are doing our best to accelerate the Internet speed and improve the infrastructure,” in addition “Upcoming plans are being prepared to promote the Lebanese entrepreneurship scene in Silicon Valley and develop additional opportunities to startups and SMEs on the international level.”
