Endeavor

DEAR ENDEAVOR FRIENDS & SUPPORTERS As the Middle East reeled from political and economic challenges, 2016 saw an accelerated rise in entrepreneurial activity in Lebanon. Over 15 VC funds were established since 2014, making around 100 investments in tech companies, giving Lebanon a 25% share of VC investments in MENA. e Central Bank's Circular 331 was the engine of this momentum but its catalyst is the entrepreneurial grit and spirit of our private sector. Visionary driven entrepreneurs; family businesses such as AN Boukather that incubate, launch and accelerate startups leveraging their own resources; Beirut Digital District that is expanding and houses a vibrant community of entrepreneurs, VCs and corporates seeking proximity to innovation and disruption; business leaders such as our Board Members and Mentors that guide and provide valuable access to entrepreneurs. While short-term results are encouraging, the ultimate test for the ecosystem's success is how integrated the Lebanese entrepreneurial landscape is. Over the years Endeavor witnessed ecosystems flourish from Buenos Aires to Istanbul through what we call multiplier effects. e key driver to creating a world class, globally competitive entrepreneurial hub is how much entrepreneurs mentor, support, partner and invest with and in each other. Endeavor Lebanon through its Entrepreneurs, Mentors and Board Members leads this movement with over 1,500 global connections and over 500 mentorship hours. Today our partners and colleagues, the other ecosystem stakeholders, recognize the vital importance of building an integrated self-supporting network of entrepreneurs. is is the beacon by which the ecosystem should continue to be led, and this is how our own Lebanese multiplier effect will continue to flourish. Fadi Majdalani, Chairman Tarek Sadi, Managing Director

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