There is still a gap between the higher education systems in developing markets, including Egypt, and the needs of the global labour market, especially in view of the challenges and difficulties faced by Egyptian students in reaching high quality American universities in their educational systems at appropriate prices.
Nexford University announced the completion of its first investment round, worth $4m. This step aims to localise technological solutions, systems in the basic education processes, and provide an innovative and an effective educational experience based on modern technology.
Fadl Al Tarzi, founder and CEO of Nexford University, said that, as founders, they believe that the deterioration of the educational process remains the main cause of most of the global challenges. “We are fully aware that our mission is to promote social and economic mobility throughout the world through education,” he added, noting that they intend to create an innovative learning experience with students’ interests in the lead, and to better prepare students to engage in modern workplaces.
The list of investors for the first round included an elite group from around the world, representing a catalyst for the business. These investors include Magnify Ventures, which is itself one of the leading entrepreneurs, as well as investors from New York, Dubai, Cairo, Geneva, and London.
The core vision of this investment is to build the university’s core technology, which uses artificial intelligence (AI) to provide students with a personalised, fun, and cost-effective learning experience. It will also include the design and construction of a curricula tailored to the needs of employers.
According to an official press release, the university pointed out that Egypt, Nigeria, and the Philippines will be among their main markets, as students in these markets face great difficulties in reaching high quality American universities at reasonable prices.
“There is a clear gap in the higher education sector between the requirements of the labour market and graduates, which is what Nexford University is doing by providing a redefinition of the measure of university success to the extent to which the student is ready for the job at the end of his or her education,” he said.