500 Global, ITIDA launch Scale Up Program in Egypt
500 Global, a prominent venture capital firm, and the Egyptian Information Technology Industry Development Agency (ITIDA) have announced the first batch of the 500 Global in Egypt ScaleUp Programme.
This seven-week program is designed for Pre-Series A and Series A startups in Egypt and focuses on providing personalized mentorship and growth strategies to empower founders and set the stage for their future success. The program covers various sectors, including Fintech, Martech, Real Estate, Logistics/Supply Chain, and more.
It commenced on October 1, 2023, and will culminate with the Scale Up Showcase on November 16, 2023, in Cairo, Egypt, where founders will have the opportunity to showcase their ventures and network with industry leaders and partners.
Key Takeaways
Egypt is witnessing significant growth in its startup ecosystem, making it a prominent hub for innovation and entrepreneurship in the Middle East and North Africa (MENA) region. This growth is driven by various factors, including government support, a burgeoning entrepreneurial culture, and a tech-savvy population. One noteworthy aspect of Egypt's startup ecosystem is its robust support system, consisting of accelerators and incubator programs. These programs have played a crucial role in nurturing and accelerating the growth of tech startups in the country. According to Disrupt Africa's 2021 report, 40% of Egyptian startups have participated in accelerator or incubation programs, highlighting the ecosystem's commitment to fostering entrepreneurship and innovation.
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