- Beirut Digital District (BDD) will host StartechEUS.
- Selected FinTech companies will receive seed funding of USD 0.1M to 2M in series A tickets each.
- Veteran serial-entrepreneurs and FinTech experts to lead StartechEUS.
The first ever FinTech hub of The Levant, StartechEUS, is going to see daylight this month, in Beirut, Lebanon.
StartechEUS FinHub is going to become the pioneer FinTech hub in Levant, as it’s the first of its kind. Lenanon’s leading creative and digital startup hub, the Beirut Digital District (BDD) is going to host StartechEUS. They have already announced the news on their blog.
In their blog, BDD has described that FinHub is going to become an integral part to accelerate the progress of screened FinTech companies, through mentorship, access to market, and most importantly, seed funding. The funding is ranged at USD 0.1M to 2M in series A tickets for each of the selected companies.
Communicate Online Levant (COL), a sister publication, has said that Alexandre Harkous, the former founder and CEO of BI SAM, a software firm, founded StartechEUS in 2018.
StartechEUS will work in collaboration with the Lebanese International Finance Executives (LIFE), The Central Bank of Lebanon (BDL) and BDD to ensure best class of consultancy, training and workshops.
COL says, "Besides supporting startups with capital funding and mentorship, StartechEUS FinHub offers office spaces and market research developed through its StartechEUS Technology Academy, in collaboration with BDD."
Mr. Harkous has quite high hopes of the FinHub. He said, “We believe that industry focus is central to achieving the best results. We will be operating at the intersection of Innovative Technology and Financial Services with a vision to empower the digital, artificial intelligence and blockchain fields."
Chief Marketing Officer of StartechEUS, Mr. Giovanni Khalil, expects his company to provide the startups with venture capital investments under BDL as a new support program. It is likely to become a new amended version of BDL’s circular 331. This will remove a lot of constraints startups have to face, Mr. Khalil said. The investments to exit within seven years.
In their official press release, StartechEUS has detailed the four main pillars of the FinHub: a one-stop solution for entrepreneurs for funding, cutting-edge FinTech office space, accurate market research and relevant mentoring conducted by the industry experts via the StartechEUS Technology Academy. In addition, access to markets will also be provided by the FinHub, including the U.S. and the Europe. LIFE has made it possible with their global network of 1,000 strong senior leaders of the finance sector.
Here are the focal points:
The FinHub is going to provide the startups with insight, diligence and confections for accelerating the value of portfolio companies and partners.
STARTECHEUS TECHNOLOGY ACADEMY
Entrepreneurs will receive modern market training from industry veterans, academics and corporate leaders to ensure best practices in tools and resource management to scale in a global competitive market.
Nazar Ajeeb, the Chief Technology Officer in StartechEUS, said, "Through leveraging our Tech experience and knowledge together with the support and contribution of our partners, we aim to provide our entrepreneurs with selective focused trainings that match their needs and strengthen their technical skills so that they can transform their innovative ideas into reality.”
STARTECHEUS INNOVATION FUND
Investment through StartechEUS will come in both direct and indirect forms for the FinTech start-ups. In addition, the nurturing and monitoring of company portfolios will also create value for LPs private and institutional funding. Carl Naim, the Chief Investment Officer and a major Partner of StartechEUS, says, “Through our unparalleled pipeline sourcing capabilities and due diligence screening, we aim at selecting the best in class disruptive fintech players to invest in and help in achieving returns, as well as co-investing alongside some of the top fintech VC names in the world.”
STARTECHEUS GOVERNANCE MANAGEMENT
The governance management framework in StartechEUS has years of experience under its belt, and a wide range of skill sets in the digital entrepreneurship, venture capital, financial industry management consultancy. The team will work relentlessly to provide required support to startups to create innovative FinTech business models.
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