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Despite the economic slowdown in Lebanon, many Lebanese entrepreneurs have decided to defy the odds by establishing their own startups, efforts that could in theory help curb an alarming jobless rate of 34 percent among the youth."We need politicians to start working for the country as opposed to working against each other," Asseily said.His concern was echoed by Ziad Mabsout, co-founder of Ubility Net, a startup providing innovative end-to-end policy solutions for mobile operators, who said that bad infrastructure such as Internet, for instance, was hindering the expansion of businesses. "You need to be living in a better environment that is more suitable for innovation," Mabsout said.He cited the example of Silicon Valley, adding that the proper startup is usually launched from there. "We are not born in a culture that motivates entrepreneurs or push them into more innovation," Mabsout said.He added that people in Lebanon did not consider those working with startups as having a regular or a full-time job. However, "when you operate in Dubai, you have the advantage of getting all kinds of resources," he added.They praised the initiative announced seven months ago by Lebanon's Central Bank to set aside a $400 million fund for startups.
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