UK Lebanon Tech Hub (UKLTH) has launched The Nucleus, a venture program that aims to the support Lebanon’s startup ecosystem. The program’s objective is to turn tech ideas and products into marketable solutions. According to Nicolas Sehnaoui, Chairman of the UKLTH, the program is going to be funded by the Central Bank of Lebanon with $3.2 million while also receiving funds from the UK Embassy, which totals to $6.4 million.
20 startups were chosen to attend a series of product development workshop for a week. After it, six startups were shortlisted to join the final program: The Nucleus, a three-month acceleration program. The six shortlisted startups would receive an investment of up to $20,000 in cash and $30,000 in services in return for a 5% equity stake. During the next 3 months, the startups will receive training and go through workshops on finance, legal structures, marketing, and sales, raising funds, in addition to access to office space, legal and auditing services and more. Alumni startups will still be
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