The Levant region's start-up ecosystem is transforming, offering opportunities across Lebanon, Syria, Jordan, and Palestine, despite challenges like regulatory hurdles, infrastructure limitations, and access to capital, say industry experts.
Speaking at the Step Conference in Dubai on Thursday, Rasha Manna, Flat6Labs Mashreq's general manager, highlighted the region's long-standing entrepreneurial heritage and strong global connections.
"It's easy to forget that the Levant, and maybe Jordan specifically, is very much the epicentre of entrepreneurship in the region," Ms Manna said.
She also pointed out the role of historical trade networks and the diaspora in fostering innovation.
"We're very much historically a trade hub. The ports of Palestine, Syria, Lebanon, and Jordan always connected Africa, Asia, and Europe," Ms Manna said.
She added that the Levant's "turbulence and turmoil" history has led to an extensive diaspora network.
"They've gone and set up businesses elsewhere, but they've maintained their connections with their homeland, and so the diaspora played a big part in driving entrepreneurship and innovation in the region," she said.
Emerging sectors and growth areas
Other panelists also identified key sectors with high growth potential, particularly in the context of Syria's gradual return to the regional economy.
"One of the things that's both a challenge and an opportunity for the Levant is that three of those countries are very small markets, so we're from the get-go building for bigger markets. We're building for regional or global solutions," Ms Manna said.
Abdulsalam Haykal, chief executive of Majarra, also provided insights into Syria's evolving start-up ecosystem.
After a 13-year absence, he recently returned to Damascus and organised a tech conference, marking a step towards reintegration into the regional economy, he said.
"Syria is back," Mr Haykal told The National. "It won't be an easy ride, but we've moved from the threshold of the impossible to the possible."
Syria's strong STEM talent and its sizeable population make it a viable market for start-ups. However, he said that infrastructure issues, slow internet, and capital constraints due to sanctions remain significant barriers.
Venture capital for Syria
Mr Haykal believes the traditional venture capital model is unsuited for Syria. "VC works on betting on winners – it's a filtration system. But in Syria, what we need is long-term asset development," he said.
Instead of relying on traditional VC structures, he suggested alternative funding mechanisms to bridge the gap between investors and entrepreneurs.
"The money is there, and the opportunities are there," he said. "What we need to do is unlock value by connecting investors with promising businesses in Syria despite regulatory challenges."
The role of diaspora and global networks
The Levant's large diaspora, particularly in Lebanon and Palestine, is crucial in funding and fostering innovation. She said that many founders who have established businesses abroad remain connected to their home countries, reinvesting in local talent and supporting new ventures.
"There are country-specific challenges, but wherever Levantine entrepreneurs go, they leave a big impact," Ms Manna said. "We are resilient, and we find ways to adapt to uncertainty."
More than 8,000 guests and over 200 speakers attended the 13th Step Conference at Dubai internet City. The annual event, which has been held in Dubai, Riyadh, and San Francisco, has helped raise more than $9.2 billion in funding for start-ups since its inception in 2012.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
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Winner Bella Fever, Dane O’Neill (jockey), Mike de Kock (trainer).
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Winner Woven, Harry Bentley, David Simcock.
7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m
Winner Fore Left, William Buick, Doug O’Neill.
8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m
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9.25pm Handicap $135,000 (T) 1,800m
Winner Art Du Val, William Buick, Charlie Appleby.
10pm Handicap $135,000 (T) 1,400m
Winner Beyond Reason, William Buick, Charlie Appleby.
Killing of Qassem Suleimani
Key developments in maritime dispute
2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.
2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
The biog
Name: Salvador Toriano Jr
Age: 59
From: Laguna, The Philippines
Favourite dish: Seabass or Fish and Chips
Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.
Killing of Qassem Suleimani
MATCH INFO
Austria 2
Hinteregger (53'), Schopf (69')
Germany 1
Ozil (11')
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
TEST SQUADS
Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Soumya Sarkar, Imrul Kayes, Liton Das, Shakib Al Hasan, Mominul Haque, Nasir Hossain, Sabbir Rahman, Mehedi Hasan, Shafiul Islam, Taijul Islam, Mustafizur Rahman and Taskin Ahmed.
Australia: Steve Smith (captain), David Warner, Ashton Agar, Hilton Cartwright, Pat Cummins, Peter Handscomb, Matthew Wade, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Matt Renshaw, Mitchell Swepson and Jackson Bird.
MATCH INFO
Manchester City 1 (Gundogan 56')
Shakhtar Donetsk 1 (Solomon 69')
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
