Launch DXB partners With Virtuzone and Hatch & Boost to extend relief packages for Lebanon entrepreneurs and talents from the UAE
The tragic Beirut explosion has been felt all around the world. With the fallout extending to all components of Lebanese society, Launch DXB, Dubai's launchpad for startups, has partnered with Virtuzone, the leading company setup specialists in Dubai and the UAE, and Hatch & Boost, MENA’s 1st Venture Builder, in order to extend support to Lebanon's stricken startup community.
Together, Launch DXB and Virtuzone launched a special discounted startup support package for business setup in the United Arab Emirates, which will help entrepreneurs in Lebanon move their business operations to UAE free zones, and thereby enjoy benefits such as 100% ownership, 0% corporate and income tax rate, no customs duties on imports and exports, and the option to repatriate 100% of the profits from the business. UAE free zones also present an invaluable opportunity, being mostly sector-specific, thus allowing entrepreneurs ready access to plenty of knowledge and expertise from others within their field.
This initiative is driven by Launch DXB’s Lebanese co-founder, Diala Daoud, in support of her own people and as a response to personal requests she received from entrepreneurs in Lebanon - "I felt helpless, so I started this initiative because I had promised to do everything within my capacity in order to support people in my native Lebanon. Currently, we are working closely with Virtuzone along with top industry experts in the region and partner organizations to field stricken business founders with all the support they need".
As a result of the destructive Beirut explosion, many Lebanese entrepreneurs have lost their businesses and their desire to stay in Lebanon. As hard as it is to leave one’s home country, Lebanese entrepreneurs communicated their increasing consideration of temporary or permanent relocation to the UAE. In response, Launch DXB, continues to mobilize the UAE community in order to rescue startups that need support.
Launch DXB is now extending its MentorshipPad, which consists of leading industry experts from global, regional, and local organizations, to help startups relocating to the UAE as well as those who chose to remain in Lebanon, through post-crisis strategies, access to new markets, connection with the UAE startup ecosystem, and exclusive free value-added benefits. Launch DXB has also joined forces with other UAE active ecosystem players. Services are expected to be announced shortly.
In addition, Launch DXB has partnered up with Hatch & Boost, MENA’s 1st Venture Builder dedicated to hatching inventive ideas & boosting them into scalable startups, to support Lebanese talents. With several job opportunities, from Content Marketing, Business Modeling, Social Media, to Book-Keeping, among others. Lebanese talents can now continue their career path by working remotely from Lebanon or by making a temporary/ permanent move to the UAE. ⠀
MAGNiTT reached out to several startup founders in Lebanon to get a few words on their sentiments and how they are coping during these current difficult times. Read what they had to say.
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