Presidency of the
Council of Ministers
Lebanon won the first prize at Gitex Future Stars for Startups. Spike, a diabetes intended application, won the Supernova Champion Competition, which amounts for USD 100,000. Maj Solution also won the Best Female Led Startup category amounting USD 10,000 financing. The application seeks to move the construction towards digitalization. Also, Slidr.com won the first prize for Automatic Placement through Fintech Hive`s Investor`s Day for its innovative application that enables lower price detection of the latest products, electronics and accessories.
Spike also won the challenge of innovation in health care.
IDAL participated at GITEX 2018, held in Dubai between 14 and 18 October, supporting the 21 Lebanese companies in two distinct pavilions: the first sponsored by Lebanon Softshore Cluster dedicated to small and medium-sized enterprises; and the second sponsored by Speed@BDD dedicated to the Startups.
IDAL`s Chairman Nabil Itani declared that the ICT sector in Lebanon has grown at a cumulative rate of 7% in the latest years. The expected growth would reach 9.7 % by 2019. He stressed the need of supporting this sector and enhancing its role in founding the knowledge economy and keeping pace with the ongoing technological developments.
Chairman of IDAL Nabil Itani visited a number of vegetable and fruit packing houses in the Bekaa as part of the institution’s support to Lebanese exports through ensuring the adoption of quality standards within the framework of the Agri Plus program. Mr. Itani predicted the volume of exports to reach 330,000 tons at the end of 2018 as a result of the program.
IDAL, in cooperation with TAIEX, and with the support of the EU Delegation in Lebanon, organized a workshop on enhancing the business environment. Two experts: Mr. Wadih Al-Ashqar, CEO of Start-up Stockholm in Sweden, and Philippe Yverniaux, Director of International Cooperation at Business France in France, highlighted their countries' experiences in supporting and providing suitable growth environment to startups. The recommendations stressed the need to activate partnerships with the business community, incubators and chambers of commerce, promote exports of startups and update related laws.