News and Trends

Flat6Labs Beirut Launches US$20 Million Early-Stage Fund

Flat6Labs Beirut Launches US$20 Million Early-Stage Fund
Image credit: Flat6Labs Cairo
Flat6Labs Cairo Demo Day
2 min read

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Head’s up Lebanon ‘treps, here’s one for you. As part of a partnership between Flat6Labs and ArabNet, Flat6Labs Beirut has announced the launch of Lebanon Seed Fund (LSF)- which consists of a US$20 million early-stage fund with the aim of supporting 100 startups in the next five years.The LSF, approved by Banque du Liban’s Circular 331, is set to be utilized as part of Flat6Labs Beirut’s mission in pushing forward Lebanese entrepreneurs and startups to markets in the region and internationally. Regional ecosystem veterans would know this- but if you don’t, this isn’t Flat6Labs’ first foray, in fact, with its accelerator programs in Cairo, Jeddah and Abu Dhabi, Beirut will be its fourth regional accelerator. Other notable players in the initiative are FlatLabs Beirut’s partnership with BLOM Invest Bank for the fund placement, and Kobessie & Frangie as its legal counsel.

And entrepreneurs can expect impressive offerings: startups in the seed program would receive $30,000-$50,000 in funding, in return for 10%-13% equity, 16 weeks of mentorship, legal support, office space, training sessions on essential business skills, opportunities to pitch in front of investors and network with like-minded startups and potential partners regionally and globally. Meanwhile, for its early-stage funding program, startups -ether in early-stage or growth phase- with exhibiting traction, a solid team, and a growth plan can receive between $150,000-$500,000, as well as strategy, budget and legal consultancy, introduction to key potential partners, and strategic support in various business aspects to further scale the startup.

Flat6Labs Beirut launch
Source: Flat6Labs

With much support set for the region, we can’t wait to see promising ideas and solutions from the region. Budding entrepreneurs, get moving- applications for the accelerator’s first cycle in both the startup seed program and early-stage fund are now open.

Related: What Investors Look For When Evaluating Your Pitch: Flat6Labs CEO Ramez M. El-Serafy

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.