With seed funding opportunities ranging between $5000 and $100,000, Nucleus Ventures’ new initiative hopes to reinvigorate the Lebanese economy.
Let’s not mince our words: Lebanon’s long standing political instability has had devastating effects on the national economy. In fact, The New York Times has gone so far as announcing this period to be “the worst economic crisis in decades, with its currency collapsing, businesses shutting, prices for basic goods skyrocketing and the threat of hunger looming for its poorest people.” Hoping to reinvigorate the economy, create job opportunities and opportunities for growth, Lebanon’s startup community, however, are not backing down. The latest example? Beirut-based Nucleus Ventures have just announced a new programme for seed investment in early-stage startups.
Simply dubbed ‘The Nucleus’, the programme is open to startups and SMEs from around Lebanon, and is being held in partnership with Lebanosse Enterprise and Employment Program (LEEP), and funding amounts start from $5000 all the way up to $100,000.
“Lebanon’s economy has been decimated. We’ve hit rock bottom. But we are bound to reinvent ourselves. Someone has got to start somewhere. That has been our mission since inception in 2015 to turn Lebanon’s rentier economy to a productive one. Now, more than ever, we can’t quit that fight. And The Nucleus is our defiant rallying call,” says Nadim Zaazaa, managing partner of Nucleus Ventures.
Alongside the cash injections in store for qualifying applicants, The Nucleus programme offers mentorship, and access to local and international markets through the experienced team at Nucleus Ventures. “Now is the time to mobilise your money, your know-how and your networks to retain and harness our best value creators,” explains Naji Boutros, chairman of Nucleus Ventures.
Applications are open now. Click here to find out more. http://thenucleusventures.com/
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