JUNE 2019
Dear Entrepreneurs,

Supporting the entrepreneurship ecosystem has become a top priority for all actors in the Lebanese startup scene who have been launching more and more initiatives and reforms.

This month, Lebanon welcomed its first FinTech hub with the launch of StartechEUS at the Beirut Digital District, an accelerator and incubator for promising FinTech startups offering support, mentorship, access to market, and seed funding. On a national front, the Lebanese Parliament recently approved a number of long-awaited amendments to the Code of Commerce in relation to Joint Stock Companies (SAL) and Limited Liability Companies (SARL) that will create a more conducive business environment for startups.

This month’s Digest will give you a quick snapshot of some of the latest stories and events happening locally and regionally.

Enjoy the read!
THE LATEST FROM US 
NEW: BSU at IDAL offers Exclusive Services to best-performing Startups

As part of our aim to help innovative startups and entrepreneurs establish and run their businesses in Lebanon, IDAL's Business Support Unit (BSU) offered the winners of the 2019 MITEF Arab Startup Competition an exclusive package of full legal services which includes support in the registration of their businesses, IP registration and contracts drafting and review. This service will extend to more exceptional startups moving forward and will also cover tax/accounting aspects.
IDAL's BSU partners with Arabnet

The Investment Development Authority of Lebanon (IDAL) through its Business Support Unit (BSU) is partnering with Arabnet to deliver the 2019 Digital Summit in Beirut. This buzzing event will mark Arabnet’s ten-year anniversary and will bring together 3,000+ corporate executives, government leaders, investors and entrepreneurs from around the globe, covering a range of topics and competitions. ( More details )
NEW CHANGES TO THE CODE OF COMMERCE
The Lebanese Parliament has recently approved a number of amendments to the Code of Commerce in relation to Joint Stock Companies (SAL) and Limited Liability Companies (SARL) which are bound to ease and improve the business environment in Lebanon. The recent legislation, No. 126/2019, will take effect on July 1 st, 2019 and encompass new legal concepts.

Click on the attached document for the full summary of changes.
ECOSYSTEM SUCCESS STORIES
Kamkalima – Revolutionizing Learning in The Middle East
Beirut-based Kamkalima was featured on Forbes Middle East among the six EdTech startups that are revolutionizing learning in the region. Founded by two teachers, Siroun Shamigian and Nisrine Makkouk, in 2015, Kamkalima helps students in Grades 4-12 learn Arabic and develop their communication skills by providing digital tools and content through their online platform.

Click to find out more about Kamkalima!
LebNet – The Leading Network of High-Tech Lebanese - American Professionals
Established in 1999 in Silicon Valley as a Lebanese diaspora network, LebNet aims to encourage its members to share ideas, develop new business opportunities, learn and innovate. As part of its commitment to leverage the power of its network, LebNet is currently offering three main programs for Lebanese startups and entrepreneurs:

Contact us if you would like to benefit from these programs!
HAPPENING THIS MONTH AT THE BSU
LOCAL & REGIONAL EVENTS TO LOOK OUT FOR
ARABNET BEIRUT 
Beirut, Seaside Arena, June 12-13 ( More details) 

LONDON TECH WEEK
United Kingdom, London, June 10-14 ( More details)

FEMME FRANCOPHONE ENTREPRENEURE (FFE) EDITION 2019
Beirut, Applications open until June 20 ( More details)