500 Global, ITIDA launch ‘Scale Up Program’ to empower Egyptian startups

Daily News Egypt
2 Min Read
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500 Global, one of the world’s most active venture capital firms, and The Egyptian Information Technology Industry Development Agency (ITIDA), have announced Batch 1 of the 500 Global in Egypt Scale Up Program. This 7-week program is dedicated to Pre-Series A and Series A startups in Egypt, aiming to empower founders through personalized mentorship and growth techniques, setting the stage for their future success.

On November 16th, The Scale Up Showcase will celebrate the progress of founders and their companies in sectors such as Fintech, Martech, Real Estate, Logistics/Supply Chain, and more. The event will feature presentations and discussions for key industry stakeholders and ecosystem partners.

“Despite a challenging global and local macroeconomic backdrop, we found Egyptian founders proving that Egypt remains a thriving technology market in the Middle East and Africa. This was evident in the highly competitive process for the Scale Up program, where we met stellar caliber individuals continuing to build resilient and healthy companies with enormous potential. We aim to provide a nurturing environment for the selected leaders to sustainably grow and scale their reach. The program brings seasoned mentors, investors, and experts to Cairo, equipping the founders with the necessary learnings and support for their growth trajectory,” said Amal Enan, Partner at 500 Global. 

“With this program, our goal is to further develop talent in the region, enabling local startups to achieve greater scale, expand in their respective regions, and bring their unique concepts and technologies to consumers and enterprises globally. We are grateful for ITIDA’s continued partnership in developing Egypt’s startup ecosystem.”

The program commenced on October 1, 2023, at the Creativa Giza Hub, also known as The Factory, operated by ITIDA. The batch then embarked on a journey to El Fayoum for an immersive 3-day retreat, focusing on founder well-being and leadership through engaging in empowering activities, and fostering a sense of community among the participants.

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