News

New Club Allows You To Invest In Lebanese Startups For Just $50

The close-knit group will allow worldwide financial backers to support vetted, high-potential, home-grown Lebanese businesses.

Published

4 months ago

June 4, 2024

Nour Nasir

new club allows you to invest in lebanese startups for just $50

Berytech

In spite of its troubled economy, Lebanon is home to a burgeoning tech scene and is rapidly becoming a hub for startups and local talent outsourcing.

However, although the country has plenty of potential to shine on the world stage, so far, financial backers and venture capital firms have been slow to invest.

To that end, the leading online source for all things Lebanon, 961, has decided to take action. The result is a new Investor Club where financial backers can support Lebanese startups, helping to reduce unemployment and ignite the growth of a clean economy.

For as little as $50, investors can be part of a close-knit club that will allow them to back vetted, high-potential, home-grown Lebanese founders.

Here are some of the opportunities that the 961 Investor Club is offering local startups:

Tech & Digitalization: Innovations that drive digital transformation.
Solving Day-to-Day Problems: Practical solutions to improve day-to-day life.
Proven Startups Looking to Grow: Established local companies aiming to scale.
Companies Looking to Expand Abroad: Businesses preparing to enter new markets.
Taking Concepts/Franchises Abroad: Growing Lebanese brands globally.

Startups based abroad may be eligible for funding, but they’ll need to pass specific criteria. For example, companies must demonstrate potential for significant growth, maintain and keep a sizable team in Lebanon, and prioritize Lebanese hires wherever possible.

Also Read: Top 10 Best Freelance Platforms In The Middle East

In addition to the ever-popular tech startups, investors will also be able to back local restaurants, food trucks, nightlife venues, retail outlets, and franchises.

Experts will rigorously vet all businesses before they are presented to the 961 Investor Club, and members can choose to invest in whatever opportunities interest them most.

How To Join

Head over to the 961 website and fill out the form to join the club and be part of a private WhatsApp group. Alternatively, if you’re one of the Lebanese startups looking for a funding opportunity for your business, you can apply here.

News

Meta Reveals Orion AR Glasses, Offering A Glimpse Into The Future

The prototype was showcased at the Connect conference, bringing the company’s vision of blending virtual and physical worlds closer to reality.

Published

2 days ago

September 26, 2024

Joanna Melki

meta reveals orion ar glasses offering a glimpse into the future

Meta, the parent company of Facebook, has unveiled a working prototype of its augmented-reality glasses — named Orion — at its annual Connect conference. At the event, CEO Mark Zuckerberg outlined his vision to use the AR device to blend the real world with the virtual:

“This is the physical world with holograms overlaid on it,” Zuckerberg said as he slid the glasses from their metal case. Describing Orion as “a time machine” he added, “These glasses exist, they are awesome, and they are a glimpse of a future that I think is going to be pretty exciting”.

The Orion AR glasses are built from magnesium alloy and run on custom silicon chips developed by Meta. They offer users control via hand-tracking, voice commands, and a wrist-based neural interface. Zuckerberg said Meta plans to further refine the glasses, making them smaller, more affordable, and ready for mass production in the near future.

So far, sources have revealed that Meta aims to release its first consumer version of the Orion AR glasses by 2027, once the technology has become more cost-effective.

Also Read: Bybit Launches Islamic Account, Enabling Shariah-Compliant Trading

In addition to Orion, Meta introduced a more modest mixed-reality headset called the Quest 3S, with a starting price of $300. The company also rolled out several new AI tools, including chatbot updates and the ability for Meta AI to auto-insert personalized images into Facebook and Instagram feeds. An audio upgrade also allows users to choose celebrity voices, like Judi Dench or John Cena, for the Meta AI assistant. “I think voice is going to be a way more natural way of interacting with AI than text,” Zuckerberg said.

Finally, Meta has introduced three new versions of its Llama 3 AI models. The company continues to invest billions in AI and metaverse technologies, pushing its capital expenditure forecast for 2024 to a record $37-40 billion.