Log in
<< First  < Prev   1   2   3   4   Next >  Last >> 
  • 19 May 2021 6:36 AM | Anonymous member (Administrator)

    While technological inventions are often developed and adopted by advanced countries, they are often a much needed solution for underserved communities. This has proven to be true in agriculture. Advances in technology have introduced modern irrigation and farming methods that have saved cost and enabled efficiency in crop production for many farmers. Technology and holistic solutions to improve farming methods have unfortunately not been implemented equally at the global level. Jehane and her team are driving to fix this in Lebanon.

    In 2018, Lebanese social entrepreneur Jehane Akiki conducted a field trip to Zahle in Lebanon to identify farmers’ needs and challenges. She came back to New York and formed a team of designers, engineers, architects and farmers from different organizations and started designing Farms Not Arms, a modern farm targeting to address three main issues: food security, climate change and social cohesion.

    Solving food security through technology 

    Farms Not Arms officially started operating in the Beqaa area in May 2021. The current team in Lebanon consists of five members, mostly women and young individuals, who manage the entire process from installing the equipment to sourcing and planting seeds, irrigating and harvesting. “It’s a women-led farm. This was not planned but we’re glad it is,” Jehane added. 

    The actual farm - ‘Turba’ which means soil in Arabic - is an integrated model that uses regenerative agriculture and low tech hydroponics to yield more produce in a smaller area. Regenerative agriculture is a dense hybrid multiple cropping system that incorporates different plants on different levels and rotates different crops, explains Jehane. Farmers can plant more and diversify their crops. 

    “In our model, you can plant 3.5 times more food in any given area, making farms more productive and enriching soil health while bringing carbon back into the soil, hence combating climate change. In traditional agriculture, the carbon isn’t going back to the soil compounding the issue of soil degradation because of pesticides,” she said. “If we don’t take care of the soil, we won’t have anything left to plant by 2075 and our food system will be jeopardized.”

    Jehane believes that if the Farms Not Arms model spreads on 3% of Lebanon's lands then it can feed every person in the country their entire yearly dietary needs. 

    Currently, her organization is relying on a grant received from a food competition it took part in last year, organized by the Rockefeller Foundation and design agency IDEO. Farms Not Arms came in the top 14 and won $25,000 to cover its first year of operation. In order to become more financially independent, the team is planning to sell a part of their harvest to end consumers and donate a percentage of it to NGOs and individuals working with the organizations. They will also run an educational program in the summer to teach unemployed individuals innovative farming techniques. The program will be offered for free to those who can’t afford it. 


    (A futuristic sketch of Farms Not Arms)

    A social entrepreneur at heart 

    Jehane’s passion for helping communities extends beyond Farms Not Arms. She has been involved in founding many startups focused on driving social change and serving underserved communities.  She is also the founder and CEO of Learning Blocks, an education technology startup that creates a skill-based education certification system powered by blockchain. Its main goal is to provide certification for underserved communities in developing countries. In addition,  Jehane is the founder of IOI Strategic Design, a consulting agency that fuses design and development to target social and governance problems. Jehane is a Global Shaper, an initiative by the World Economic Forum to create a network of young people in their 20s who are driving social change.

    Her biggest concern remains “the current state of the world and what is going to happen to the planet,” she said. “The climate crisis is not just about the environment but also a mix of all the things we’re doing! All of our systems are broken in some form and this is contributing to the state of the planet.” 

    Despite leaving Lebanon to pursue her college studies in Boston and New York, double majoring in International Studies and Business Management, Jehane remains passionate about giving back to her country and to underserved communities. 

    One can only hope that with more people like Jehane, Lebanon will witness a rise in community-geared agriculture initiatives that can put a stop to food scarcity and help Lebanon become self-sufficient.  

  • 29 Mar 2021 8:05 AM | Anonymous member (Administrator)

    30-year-old Fadia always wanted a family. A naturally loving and nurturing individual, she never thought motherhood would be so fraught with trials. She and her husband, a member of the Lebanese army, are parents to a four-year-old girl who has thalassemia, an inherited blood disorder, and a two-year-old boy with congenital problems. 

    Fadia, a high school diploma holder, used to work as an esthetician. But the wave of crises that has recently hit Lebanon, exacerbated by the coronavirus pandemic and concomitant closures, has left her without a job. Her modest home is in poor condition. The children’s treatments are not covered by the insurance extended to military personnel and their families. And Fadia’s faith in nothing short of a miracle continues to wane.

    Since October 2019, Lebanon has been reeling from devaluation of its currency as the lira lost more than 80% of its value against the US dollar. The majority of the population has slumped into poverty in what the World Bank describes as a “deliberate depression” due to the inaction and failed policies of political and financial authorities. Apart from economic stagnation, hyperinflation and the pandemic, Beirut was marred by a massive port blast in August 2020 that killed more than 200 people and wiped out swathes of the Mediterranean capital.

    It is exactly these circumstances, threatening to debilitate hard-working yet misfortune-stricken folks like Fadia, which spawned the birth of Aleb. Literally translating to “heart” in Arabic, Aleb is an initiative incubated by LebNet in partnership with Lebanon-based NGO Al Majmoua in the wake of the Beirut explosions. LebNet, a North American nonprofit organization, enables tech entrepreneurs and professionals of Lebanese descent to thrive through education and networking, with a special emphasis on women in leadership roles. Aleb, perhaps a metaphor for the collective heart of the diaspora beating in sync with that of Lebanese locals, aims to provide sustained remittances from international donors to needy families in Lebanon.


    (Taken from the house of one of the Aleb sponsored families. Photo credit: Dalia Khamissy)

    "This is an extremely important initiative for us", said Sarjoun Skaff, cofounder of Aleb. "As expatriates, we feel powerless watching from afar as Lebanon's economy collapses dramatically with no obvious way to help. That's why we wanted to build a vehicle for our diaspora to actively and meaningfully support the homeland. Cash assistance is a very effective form of support, and complements existing in-kind programs, so we are excited to make it available to the world."

    Here’s how it works. Aleb coordinates with Al Majmoua, originally founded in 1997, to source and pinpoint indigent families. In the pilot program, 39 candidate families were on-boarded on the Aleb website. Donors can review these details and decide which family to support directly through monthly contributions of US$ 200, plus a service fee of US$ 30, for a period of six months. Donors receive program updates and an impact report on how their funds are disbursed.

    Now in the second phase of the program, Aleb has identified 36 additional families for immediate assistance. The US$ 200 monthly aid package is estimated as the minimal amount for a family to procure food, clothing and medication. Here are some testimonials by recipients on how Aleb has affected their lives.

    • “The first time I received money from Aleb, I used half of it to cover a previous debt. With the other half, I bought milk, medication for the kid, diapers and home essentials. Next month, I need to repair my refrigerator and the washing machine.” (Father of two children who resides with his wife, mother and sister in Aley. The father used to operate a school bus but is presently out of work.)

    • “My husband recently started working as a security guard. At home, the kitchen is incomplete, and we barely have any furniture. Some rooms lack electricity. With the second remittance, we paid off debts and bought sugar, milk, rice, beans, and baby diapers.” (Mother of two children who resides with her husband in Ain el Tineh. The couple previously ran a hair salon but was unable to renew the rent.)

    Often, Lebanon comes under the critical lens of the media for the pain afflicting its denizens at the hands of a feckless government. As citizens of the world, we watch in horror and grieve as we witness just a fraction of their immeasurable hurt. Distance may render us powerless to come to their succor, but thanks to Aleb, our hearts can now beat as one in a gesture as modest as a few hundred dollars. By supporting one of these disadvantaged families, we – via Aleb – can make a huge dent in their lives and help them provide for their posterity.

    [Disclamer: The name has been changed to protect the privacy of the featured individual.]

    --

    Author: Danielle Issa is a Lebanese-American writer, blogger and strategy consultant who has called Lebanon home for the past ten years. A native of southern California, she worked for seven years in strategic development at a leading Lebanese bank. Today, she resides in the suburbs of Beirut with her husband and two little boys, juggling motherhood and writing, while managing her internationally acclaimed culture and lifestyle blog Beirutista.co, founded in 2012. Ms. Issa holds a master’s degree in mechanical engineering from MIT (Boston) and an MBA from Collège des Ingénieurs (Paris).

  • 22 Feb 2021 4:42 AM | Anonymous member (Administrator)

    Didier Moretti is an entrepreneur who thrives on creating and scaling new businesses. Most  recently he was VP/GM at Atlassian, where he led the development of Jira, Confluence, and the creation of Service Desk, a major growth business for the  company. Prior to Atlassian, Moretti was a VP/GM at Cisco, where he led the creation of significant new businesses in video and the Internet of Things. Before that, he led several startups as CEO, and was the founder and CEO of Annuncio Software, an internet marketing company acquired by Oracle.  

    Moretti recently took a sabbatical from tech to explore other areas of interest. He is a water sport enthusiast – swimming, kitesurfing, and scuba diving. Didier has a passion for visual arts, when not in the water he can often be found in his art studio. If curious, you can check some of his work here. Moretti holds two Master of Science degrees from MIT, and an “Ingenieur” degree from Ecole Polytechnique in France.

    1- If you had a rewind button, what would you change about your journey? 

    Make time for yourself a priority – to exercise, to learn, and to nourish your spirit. Put these activities on your schedule, and make them mandatory, just like important meetings. Your biggest asset is your own human capital; and just like financial assets, it pays to start good habits early, as there is magic in compounding! 

    2- What are your 3 biggest accomplishments?  

    Repeat success in creating disruptive products and scaling new businesses. Creating great work environments and seeing so many people flourish. A loving family and making time to pursue new passions. 

    3- What’s the best lesson you learned? 

    It’s OK to make mistakes, as long as you are responsible and learn quickly. 

    4- Who is your role model?

    I do not buy into having “a” role model as no two situations are the same. You should learn from many people, dealing with many different contexts. 

    5- How did surrounding yourself with a good support system help you advance in your career? 

    The thing I valued most was having moral support to help me stay true to my values as a leader, especially through the most challenging times. I am grateful to my wife first and foremost, and to some great advisers along the way! 

    6- What is one habit you worked hard on breaking to improve your life or career? 

    As an introvert, I hated public speaking. I worked hard at it until it became something I truly enjoyed. 

    7- What characteristics do you look for in people you choose to work with?

    People who are driven, creative, and humble. 


    8- What skills did you work so hard on acquiring?

    People skills. I was poor at it but had to learn out of necessity. Eventually something clicked, and later on it became a forte (you could say that I am a late bloomer!). 

    9- What advice would you give to your 20-year-old self?  

    Articulate your personal values early in life, so you can lean forward and live life on your own terms. 

    10- What excites you and what worries you about the impact of technology on the future? 

    I am most excited about our ability to learn, experiment, and innovate at scales that were unimaginable even 20 years ago. I worry about our impact on climate, and the burden we are leaving for the next generations. 

  • 16 Feb 2021 11:46 PM | Anonymous member (Administrator)

    In the second part of LebNet’s Women in Tech video series, sponsored by Joun Technologies, we hosted a one-on-one interview with Hala Ballouz, President of Electric Power Engineers Inc. and Founder of GridNEXT.

    Ballouz is a leader in the energy industry and is currently building an innovative energy management software platform to enable the integration of technology and renewable resources into electric grids. She has over 25 years of experience in energy market studies, utility grid planning and renewable resource development and received the 2020 Women in Power Award during the virtual event Experience POWER held last September. In the below interview, Ballouz advised young tech leaders to be socially responsible and think about tech implications, and shared life lessons, future vision among other insights.


  • 19 Jan 2021 3:40 AM | Anonymous member (Administrator)

    At the young age of 17, Ra’ed Elmurib left Lebanon and moved to the US by himself to pursue a career in Engineering. For six months, he slept on a couch at a friend’s place until he secured a couple of jobs to sustain himself and his education. 

     With extensive experience in building startups, corporate M&A, and Strategic Venture, he held the CEO position of Shoof Technologies in 2016, developing the Wireless technology that aims to change the world of Industrial IoT connectivity. He previously served as Executive Vice President of Corporate and Business Development for PMC-Sierra, leading the company’s non-organic growth, venture investment and strategic partnership. Elmurib led the $2.5 billion Dollar sale transaction of PMC to MicroSemi and executed over $4 billion in transaction value. He also served as the GM of the Microprocessor Division and VP of WW Sales. Ra’ed was the CEO and founder of Unitec Sale, a Manufacturer Representative of STMicroelectronics, Microchip, and other component suppliers.  

    1- If you had a rewind button, what would you change about your journey? 

    I would make sure I start my career working for a startup with a vision of changing the world by innovating a leading edge technology. New innovations are the most powerful initiatives that human can create to impact our quality of life.

    2- What are your 3 biggest accomplishments?  

    1. Raising three healthy and happy kids, with “work hard, play hard” instilled in them. Having grown up away from family since I was 17 years old, it was a challenge to raise kids in a foreign land without the support system we are accustomed to in Lebanon. Striking a balance between the two cultures requires an open mind and a vision for the future generation challenges as they become model contributing citizens. 

    2. Starting my first company, Unitec Sales, at the age of 30 years old. It was a goal I set for myself when I graduated from College. It was an awesome way to learn and grow both financially and mentally. 

    3. Leading the exit of PMC-Sierra, as we struggled to reinvent ourselves after the bubble bursting in 2000. It took us many years to rebuild the company and change the direction and it was almost like coming back from the dead.

    3- What’s the best lesson you learned? 

    Resilience is the key to success. For us first generation Lebanese-American, we endured many difficult obstacles on our way to accomplish what we set out to do. New language, new culture, no network to speak of, and lacking all the necessary tools to make it happen. But with resilience and commitment to succeed, we plowed ahead and reached our goals.

    4- Who is your role model? 

    Every successful immigrant is my role model. I learn so much from their stories. 

    5- How did surrounding yourself with a good support system help you advance in your career?

    One thing I missed out on is having a mentor. It is so critical to maneuver your way through the different situations you run into during your career. My support system was my wife, Kim, as I was traveling and working 80-90 hours a week. She sacrificed her career to take care of all of us.

    6- What is one habit you worked hard on breaking to improve your life or career? 

    I had the bad habit of assuming that everybody had the same drive, intelligence, and ambitions as I do. Learning that we are all different at an early stage would have saved me lots of anger and lots of unnecessary disappointments. 

    7- What characteristics do you look for in people you choose to work with? 

    I like self-driven people, because I hate to micro manage, its a waste of time and inefficient. To succeed in life you need to surround yourself with a team that shares your vision and compliment your weaknesses. 

    8- What skills did you work so hard on acquiring? 

    Being patient and it is still a work in progress. I expect people to move fast, break things, learn from mistakes. I am getting a little better but I still have lots to go.

    9- What advice would you give to your 20-year-old self?  

    Ask for help, get a mentor that you respect and leave our world better than you inherited it.

    10- What excites you and what worries you about the impact of technology on the future?

    Lots to be excited about. What technology has accomplished in the past 100 years is nothing short of an amazing miracle. I just wish we use it to always benefit humankind and improve lifestyles by lifting everybody up.

  • 24 Dec 2020 1:00 PM | Anonymous member (Administrator)

    The Lebanese civil war did indeed cost the country great minds, but as the saying goes, Lebanese always stand on their feet. This was the case with Daniel Daou, who left the country with his family during the war and founded years later one of the fastest growing wineries in the US, Daou Vineyards

    In 1973, when the civil war started, Daniel’s parents’ house was bombed, leaving the family wounded physically and emotionally. Trying to pick up the pieces and start a new life, the family moved to France a year later. 

    At 18 and after nine years of living in France, Daniel’s brother Georges moved to San Diego to study Electrical Engineering then Daniel followed him a year later to study Computer Engineering. Daniel started a company that computerises networks and with a capital from his father, he grew it and eventually sold it. He was ready to retire at 31 when his passion for winemaking started kicking in. 


    Image via Daou Vineyards.

    Daniel spent 8 years making wine at his garage, visiting wineries and studying the soil before launching Daou Vineyards with his brother. The family business is now operating in 50 states in the US and in 32 countries worldwide.

    In the video below taken from his talk during LebNet’s Virtual Holiday event held on December 15, Daniel reminisces the small details of his journey as a kid and a young entrepreneur passionate about wine and family bonds, explains what makes a viral excellent wine and shares the inspiring story behind the name behind their best wine: ‘Soul of the Lion’.

  • 07 Dec 2020 5:16 AM | Anonymous

    It’s 7am in San Francisco and Vancouver. In these different cities Khaled Nasr, George Akiki, and Anwar Sukkarie, are getting ready for their regular Investment Committee (IC) call with other fellow members of iSME’s investment committee.

    It’s 5pm in Beirut. Bassel Aoun, Naji Boutros, Gilles De Clerck, and Dany Eid are also getting ready for their call of the day.

    [Disclaimer: George Akiki, Khaled Nasr and Anwar Sukkarie are LebNet members].

    Despite the time difference, busy schedules, and remote calls, this is something they don’t want to miss. They’re keen to offer their informed judgement on which startup deserves funding from iSME, a $30 million USD matching fund by Kafalat, funded by the Government of Lebanon and the World Bank. Driven to play a key role in assessing promising startups and making sure the ones with the highest impact on job creation and society receive adequate funding.

    They are all volunteers. They don’t own shares or sit on the board of any of the startups they decide to invest in nor are they financially involved.

    So why is motivation so high? And why put in all this effort? Simply for the love of giving back. “We all love Lebanon and think it has many issues, but one of the bright spots is its entrepreneurial spirit, level of education, and exposure to the outside world.

    iSME is a matching fund operated by Kafalat and funded by the Government of Lebanon and the World Bank. Three of LebNet’s members sit on its Investment Committee.

    The traditional economy is failing and there’s not enough to keep up with population growth so we see a brain drain,” said Khaled Nasr, general partner and COO at VC firm InterWest Partners in Silicon Valley.

    In the face of the challenges of meeting and resolving conflicts remotely, as well as overcoming differences in mentalities and backgrounds, the IC members have found a way to always be involved and engaged, for the sake of Lebanon and its bright entrepreneurs. Five years in and the commitment is still going strong.

    So what three qualities make a great investment committee?

    Diversity

    The IC members bring different skill sets into deal assessment, providing several points of view. Khaled Nasr is a Silicon Valley venture capitalist at InterWest Partners, Anwar Sukkarie is an entrepreneur and the founder of Loop, George Akiki is the co-founder and CEO of LebNet, Dany Eid is the CFO of Resource Group, Gilles De Clerck is a private equity investor at The EuroMena Funds, and Naji Boutros is the Chairman and CEO of Telegraph Capital Partners and the owner of Chateau Belle-Vue in Lebanon. This has proven to be highly beneficial for entrepreneurs.

    “A private equity investor view puts a reality check on a VC dream and we felt that and it’s a good balance,” disclosed Tamim Khalfa, founder and CEO at delivery service Toters, whose company received a matching fund from iSME. His startup delivers thousands of orders a day and products worth millions of dollars per month, according to the founder.

    From top, left to right: Dany Eid, Gilles De Clerck, Khaled Nasr, George Akiki, Naji Boutros and Anwar Sukkarie

    Image via Toters

    “As a professional investor, the part that I had to adjust to is that this was not intended to be purely a financial investment. We were not just looking for a return on investment, but also to create an impact on the employment situation and create an ecosystem. We learnt to work with people with other backgrounds and it took me some adjustment so that I would look at other goals of iSME and assess accordingly,” said Nasr.

    As a private equity investor, Gilles De Clerck believes his expertise in this field has helped startups prepare for the next wave. Likewise, Naji Boutros is convinced that each member has his own strength: “while most of us are VCs and PEs, some of us are also operators and understand the organization’s behavior and that is so important in startups.”

    Respect

    Dany Eid describes the committee’s approach to assessing startups as fair to the startups, selfless, and without ‘egos’. Khalfa added that “when [the iSME Investment Committee members] hear a convincing answer to their inquiries, they don’t keep doubting, and criticizing, and their questions make sense.” He also revealed that in his previous experiences with other VCs, the IC members used to break down the entrepreneur but that “you don’t need to put on a show or bully the entrepreneur if the answer isn’t convincing.”

    Local and Global Insight

    Having members in the US, Canada, and Lebanon brings entrepreneurs a wealth of advantages. “Those living abroad are quite familiar with Lebanon. When it came to scalability they were the experts. We were able to add value about our assessment of a pilot project running in Lebanon, but when an idea was to be replicated outside, this is where their experience comes in,” comments Eid. Agreeing, George Akiki recognizes the role of the members in Lebanon in assessing a startup’s scaling plans and validating if their expansion to a target market in the region is a smart move or not.

    An example of this in action is Reef Kinetics, an iSME portfolio startup that manufactures automatic water testing devices for aquariums, tanks, and ponds. When looking to expand to international markets, Reef Kinetics benefited from IC members’ knowledge in marketing and distribution overseas. They now work with distributors in more than 55 countries across the US, Europe, and the GCC.

    From early challenges to surviving difficult times

    Founded in 2015, iSME is a co-fund that aims at encouraging early-stage equity financing in Lebanon.
    So far, it has made 18 equity investments, offered grants to 175 startups and supported 4 Lebanese angel funds.

    Program manager Bassel Aoun explains that it was launched five years ago to encourage the creation of a healthy pipeline and to increase the supply of early stage financing by offering grants and equity co-investments to Lebanese startups.

    Reef Kinetics’ ReefBot Pro device. (Image via Reef Kinetics)

    Image via Kafalat

    Back in 2015, it was hard to convince other funds to offer co-investment opportunities for iSME, admitted Aoun who spoke about the challenges iSME faced trying to promote its concept. “The major challenge was to promote the fund to other VC funds and [to show them] the advantage of having a co-investor on board. […] From my experience, if you look at any deal in the VC industry and you look at the cap table, the smallest deal has three investors. You should have a co-investor to help you get follow on funding,” he divulged.

    Another challenge was having international committee members because co-investors believed they would be hard to convince. One successful deal after the other removed these barriers and today, iSME builds very good relations with VCs in the market and co-invests with 90 percent of them.

    During these extremely tough times, the idea of investing in high-risk startups in Lebanon might appear absurd. After all, many startups shut down and the remaining ones are bootstrapping their way out of a seemingly never-ending crisis. But resilience is key. Entities like iSME are struggling to keep the funding going, and this is why, Aoun explains, they are pausing new investments and prioritizing their portfolio startups: “we’re asking our startups to reduce cost and build a plan B, increase runway and survive for a minimum of 12 months. The money will go to those who prove they can run on survival mode.”

    Tough times call for tough measures. Lebanon, startups, hang in there!

    Feature image via Pixabay.

  • 06 Dec 2020 5:23 AM | Anonymous

    When he was barely 30 years old, Sam Samad faced the most challenging role in his career: he became Eli Lilly’s CFO for the Middle East area. At such a young age he found himself in charge of 15 countries and expected to be an expert on local cultures, all while having to navigate the bureaucracy of a large Fortune 500 organization headquartered in the Midwest. He admits that it was “not easy, but a fantastic learning experience nonetheless.” 

    This experience shaped him and throughout his 25-year career, he has never ceased to unlock diversified opportunities. As the current CFO of Illumina, Sam Samad is thrilled to be part of a company pioneering genome sequencing and to be involved in key decision making about investments in Oncology, Genetic Disease, Infectious Disease and Reproductive Health. He also leads Illumina’s sustainable growth efforts by helping to assess the financial potential of genome sequencing in diagnosing and treating key diseases in addition to overseeing the transformation of finance and GIS (Global Information Systems) organizations into more data driven support entities. 

    During a business trip.

    Daring to get out of his comfort zone by working in a highly scientific industry and taking on surprisingly diversified roles were key drivers in Sam’s success and have set him apart. 

    An Unexpected Path 

    Back in 1993, Sam Samad was looking for an opportunity in the world of finance. Shortly after earning his MBA from McMaster University, he joined the pharmaceutical company Eli Lilly. This move sparked the young graduate’s passion for drug discovery, patent acquisitions, and medical product investment. 

    In 2003, he took a bold leap of faith and accepted a Sales Manager role at the same company in Toronto. He confesses that, “I never sold anything in my life before. I decided to go back and give it a try, because I knew I had to differentiate myself from other finance people”. The first six months were really tough, he recalls. He had to study medications and their side effects and sell them to doctors and physicians. “I took that risk. I was voted the Central Region Sales Manager of the Year,” Samad remarks. 

    Over the years, he acquired a deeper understanding of how the pharmaceutical industry worked, earning him a multifaceted perspective that helped him make more informed decisions as a Sales Manager, then as an Associate Vice President and later as the CFO of Eli Lilly in Canada. And he enjoyed every challenge and milestone. 

    His talent and potential were obvious throughout his journey with Eli Lilly. He won the District Manager of the Year Award for the Central Region in Canada when he was Eli Lilly’s District Manager in Toronto, highlighting his effectiveness at guiding a team towards great results and achievements. When he was the CFO of the Middle East, he was a finalist for Global Eli Lilly Chairman’s Ovation Award because of his exemplary work on negotiating agreements with a number of pharmaceutical distributors across the region. 

    In 2012 he accepted the position of Senior Vice President and Corporate Treasurer for Cardinal Health, a healthcare services and products company in Columbus, Ohio. He was in a leadership role for Cardinal Health’s China subsidiary, helping to grow the organization and spearheading a number of local acquisitions across China. 

    In 2017, Samad became the CFO of Illumina, a leader in DNA sequencing and microarray products and services in San Diego.

    “When you work in healthcare, it’s difficult to no longer work there. You become spoiled. It’s such a great place to work and wake up knowing that you’re doing something that really matters to many people.”

    Sam Samad with his team at Illumina

    A key secret to success according to Samad is understanding and recognizing what motivates different people when managing and incentivizing employees. “Otherwise you’re using a one size fits all approach which might not fit most.  Recognizing that sales professionals respond differently to challenges and opportunities compared to finance people is a critical ability I developed by working in both functions.” 

    Golden Eras: drug discoveries and precision medicine 

    Samad feels lucky to have worked for a pharmaceutical company during the late 1990s. He describes it as the golden age of the pharmaceutical industry, which saw a spike in the discovery of medications and treatments. 

    In the mid-1990s, drugs that came onto the market generated around $7 billion USD in sales, according to a study published in Forbes. But sales started declining between 2000 and 2009 due to the surging R&D costs and the lower number of new drugs coming to market. Profit margins tightened, so did the incentives for more companies to burn the midnight oil trying to discover new drugs for cancer and other serious diseases.  

    Pharmaceutical companies were revolutionizing how diseases were treated. Today, precision medicine through genome sequencing is making major steps towards that same goal. Samad again, with his move to Illumina, is lucky to be part of this revolution. Precision medicine works by determining and analyzing the DNA sequence of a person’s genome. This empowers scientists and researchers to be able to identify people’s predispositions to diseases and how their immune system would react. So instead of having a cancer patient undertake several therapies (from drugs to chemotherapy and radiation) to identify the most effective one, oncologists will be able to sequence a sample of a tumor to determine which cancer treatment is more likely to work. 

    “Ten years ago, the cost of genome sequencing was in the millions of Dollars. The cost has come down dramatically since then. We (at Illumina) have driven the cost down through our pipeline of innovations and our goal is to bring the cost down to $100 in the foreseeable future. Imagine the potential this has to unlock new scientific discoveries and potentially treat diseases.”

    At the moment, precision medicine applications are more heavily concentrated in research, however, clinical applications are growing rapidly. Oncology, Non-Invasive Prenatal Testing and Genetic Disease are all fast growing areas in clinical. One of the bottlenecks for more accelerated adoption in the clinic is data interpretation and analysis. Physicians and practitioners, according to Samad, are left with huge amounts of data and very little resources to analyze it. Illumina’s partners are now doing a lot of the interpretation work and Samad expects a steady rise in adoption going forward. 

    In the light of the ongoing COVID-19 pandemic, Illumina is leveraging its genome sequencing expertise to help Genomics England, which works with the Genetics of Mortality in Critical Care Consortium and the National Health Service in the UK, better understand how people’s bodies react to the virus. Illumina will sequence the genomes of 20,000 patients from across the UK who have severe symptoms and 15,000 patients with mild-to-moderate symptoms. 

    Responsibility that impacts lives

    Every senior position comes with serious responsibilities. And Samad shoulders a big burden as he must prioritize Illumina’s research efforts in areas with a bigger impact on patients’ lives. 

    “What excites me yet keeps me up at night is that it’s a vast ocean of opportunity. [We have to make sure] we prioritize our resources in the key areas that move the needle for the markets and patients we serve. It’s not easy. You feel like you have an obligation to tackle everything from Oncology to Infectious Disease. There’s so much out there,” discloses Samad. Despite all the challenges and pressure, what keeps him going is his unwavering belief that he is part of a bigger cause. 

    “Illumina today is on the verge of changing the way care is delivered and treated and [how we] manage diseases. Sequencing is a revolution in how you treat people and to work in a company that’s driving that is a huge privilege. That’s incredibly motivating.”

    During a family trip.

    What’s also motivating for him is the support he gets from his family and mentors. 

    At Eli Lilly, his boss’s manager was his mentor. “We would meet regularly. He sent me to the US and was part of the decision to send me to the Middle East. I touched base with him always and he believed in me and in my work so I didn’t want to disappoint him,” Samad reminisces. Outside of work, his wife always stood by his side, moving with him from one country to another. He sought advice from his brother-in-law who was working in the same field in the UAE. And turned to his mother who was a very strong person and a role model. 

    Sam Samad’s journey is far from over. This Lebanese business veteran still has a lot of things he wants to achieve as a CFO at Illumina. He aspires to transition into a CEO role if the opportunity arises, but until then, he is happy where he is. 

  • 04 Dec 2020 5:28 AM | Anonymous

    Featured in Forbes’ 30 Under 30 and being the cofounder and Chief of Product at Scopio, a tech-focused photo marketplace, Nour Chamoun keeps adding more bullets to her resume.

    After graduating from the Lebanese American University with a BS in Graphic Design, Chamoun did her Masters in Design and Technology at Parsons School of Design in New York, where she met Christina Hawatmeh, the initial founder of Scopio.

    “Christina had the idea of connecting citizen journalists to media outlets. She reached out to the Parsons program where I was doing my Masters at the time for design and development help. I loved the idea so, together and with some help, we built an AI-driven search engine that would allow media outlets to search for breaking news photos and videos on social media and license them,” explained Chamoun. 


    “When we first started building our search engine, we realized how much of a challenge it was to not only create a Google search equivalent for social media platforms that uses machine learning to find relevant content, but also how much of a complex system it was for customers to grasp, let alone to use as a service. So we eventually pivoted to a marketplace of over 200,000 photos submitted by photo creators from around the world on news and other topics that we sell to businesses.”

    Today, Scopio’s mission is to make stock photography more diverse, authentic, and affordable. The platform identifies rising photo creators from over 150 countries, titles and tags their photos, then licenses them so they become easy to use anywhere. Today, Scopio has about 7,000 subscribers who use photos and around 13,000 artists who contribute to its library. It’s made up of a small dedicated team of 8 full-time engineers, designers, and editors and a part-time marketing team.

    At Scopio, Chamoun leads the engineering and design teams. She has previously worked in design firms in New York and Beirut on a range of products including websites, web and mobile app design and development.

    This young cofounder and LebNet member was recently featured in Forbes’ 30 Under 30 list and praised for her hard innovative work. She hopes this recognition will open doors for the cofounders in their future fundraising plans to scale the company. 

    Looking back at her short yet fruitful career, Chamoun believes that to sell an idea successfully one must perfect their narrative. Founders tend to overlook the importance of storytelling when they are trying to get people’s support, she said, but “when you’re an early-stage startup with little traction in the beginning, I would say that the most essential parts of your business are the founders and the story. With the scarcity of data, you need to sell the idea and its potential,” she concluded. 


  • 03 Dec 2020 5:32 AM | Anonymous

    Bossa Nova is set to revolutionize the way retailers track their inventories and people shop for every product. 

    The company was launched by LebNet member Sarjoun Skaff, who was listed among the 10 people transforming the retail industry by Business Insider. 

    Bossa Nova develops robots that navigate stores and provide real-time on-shelf product data for the retailer. It is currently deployed in 50 stores across the United States. 

    Founder Skaff chatted with LebNet about his business, overcoming near-death experiences, future plans and more. 

    Image via LinkedIn

    You graduated and started Bossa Nova without any previous work experience. What factors helped you kick off the business? How did luck play a role? 

    Luck played a huge role but sometimes in its absence! The founding team’s lack of industry knowledge led us to develop the wrong product. Luckily, we received industry feedback early enough that we quickly scrapped the initial plan, retooled, and replaced the initial product with two that succeeded in the market. More than anything, I credit our resilience for allowing us to overcome near-death experiences and live to fight another battle.  

    Today Bossa Nova’s robots offer services different from what they offered  before. Why did you decide to pivot your model?  

    We started building and commercializing robot toys. They were powered by the robotic technology developed at Carnegie Mellon University, were interactive and even connected to the cloud back in 2011! They were a remarkable technical success but in some ways were ahead of their time. Many products succeeded in the market but some didn’t, and those can be costly. In 2012, after a good run of five years and selling more than half a million robots, we decided to turn our attention to a business to business (B2B) model. This model has drastically less market risk and played well to our strengths in robotics and AI. 

    You received a lot of media attention recently after being named one of the top 10 people transforming the retail industry. Can you tell how exactly is Bossa Nova disrupting the industry? 

    Retailers around the world suffer from a lack of visibility into their store operations which translate into inventory distortion. Is this product on the shelf? Is it in the right location? Is the price correct? We solve this problem by automating the capturing and processing of on-shelf inventory data. Our fully autonomous robots roam the grocery aisles, take high-resolution pictures of every product on every shelf, and use AI in the cloud to extract inventory information and direct store associates to quickly correct the problems. 

    We’re seeing Bossa Nova’s technology being adopted as a productivity tool. For example, when a shift starts, store associates already know what to restock and fix on the floor. Team members can spend more time addressing issues and serving the customer. Shoppers are also able to find the products they need when they need them.

     Introducing a new product in the market poses its own challenges, especially if the product is a robot roaming the stores and interacting with human beings. Can you describe some of the challenges you faced at the beginning and how did you deal with them? 

    The biggest challenge we face and to some extent still do is that the retail robot market does not exist. We pretty much created it. Since 2013, we had to convince retailers that robots are the right means of data capture in stores, that they were safe and friendly to everyone, and to investors that brick and mortar stores were here to stay despite the rise of Amazon and e-commerce. It faced a desert crossing and here again, resilience was key to pulling through.

    Amongst the big names you’re working with, you partnered this year with Walmart to operate your robots at their stores. How did that partnership take place? 

    We exhibited a rudimentary version of the current solution at the National Retail Federation trade show in New York and caught the eye of virtually all retailers. Walmart approached us and has since proved to be an incredible partner. Through trial and error, we invented a new solution for retailers everywhere that we’re so incredibly proud of. 

    Manufacturing is a tough industry and many entrepreneurs often complain about the difficulty of finding the right manufacturing partner. Was it the same for you? 

    It was hard because robot manufacturers did not exist in the US when we started. We had to build a lot of the manufacturing engineering in-house and pass on the knowledge to manufacturers who were willing to take on such a complex system.

    Last but not least, what are your future plans?

    Our mission is to map the retail world so we’re just getting started. We are working hard to perfect our technology, scale the AI, expand coverage within a store, and develop solutions for different store formats. We have many more years of core innovation ahead of us to help the industry serve the shopper of tomorrow, and we’re excited.

<< First  < Prev   1   2   3   4   Next >  Last >> 


LebNet, a non-profit organization, serves as a multi-faceted platform for Lebanese professionals residing in the US and Canada, entrepreneurs, investors, business partners in a broad technology eco-system, and acts as a bridge to their counterparts in Lebanon and the rest of the Middle East

© 2020-2012 LEBNET. ALL RIGHTS RESERVED

205 De Anza Blvd., #315, San Mateo, CA 94402, USA. +1.650.539.3536

Powered by Wild Apricot Membership Software