The World Bank recently released a report entitled “The Tech Start up Ecosystem in Beirut” in which it attempts to portray the status of this budding scene in Lebanon. The World Bank’s findings are based on a survey conducted between February and August 2016 involving 218 entrepreneurs, 142 start-ups and 196 start-up founders. The World Bank acknowledges the limitations of this study especially given the fast-changing nature of the start-up ecosystem but it still believes that it provides “unique insights” into the ecosystem. This paper summarizes the World Bank’s findings with regards to this lucrative and novel sphere of Lebanon’s “knowledge economy”.
The World Bank defines the tech start-up ecosystem in Beirut as being in the early-to-middle stage of development. The ecosystem as a whole has in fact surpassed its nascent stage but has not yet matured. However, a more detailed portrait of the elements that make up the ecosystem reveals some mixed stages of development. The skills in the ecosystem are advancing, investment is advancing whereas the community, the supporting infrastructure and constraint are still at a nascent stage.
To read the full report, click below:
World Bank Report – Tech Start Up Ecosystem in Beirut