The ‘Shorooq Lebanon’ initiative aims to help startups and entrepreneurs devastated by August’s explosion in the Lebanese capital.
Abu Dhabi-based seed stage venture capital fund, Shorooq Partners, has announced the launch of a new initiative aiming to support Lebanese startups, in the wake of August’s explosion in Beirut.
With no formal conditions disclosed, the ‘Shorooq Lebanon’ initiative is looking for “talented individuals interested in being part of an entrepreneurial environment or those looking to relocate their startup to the UAE KSA, or Bahrain,” according to a statement by Shorooq Partners.
“Lebanon has always been a hub of innovation and top talent in the region, it is its most valuable asset that we must support and elevate at all cost and we are humbled to do our small part in providing support to Lebanon and its people," Shorooq’s Wendy Sfeir said of the initiative.
Already reeling from political and social unrest, Beirut was devastated by the August 4th explosion at the capital city’s port, where ammonium nitrate was stored. The explosion left at least 192 dead and 6,500 injured, with an estimated $10–15 billion caused in property damage, and leaving an estimated 300,000 people homeless.
Startups and entrepreneurs can apply for support here.
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