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‘Eitesal’ launches project to support entrepreneurship with EU funding

Eitesal has launched a new project for entrepreneurship in Egypt, named Egypt Innovation and Entrepreneurship Project – InnoEgypt, with funding from the European Union and the Egyptian government. Four large institutions in Egypt are taking part in the project. They are SEKEM Development Foundation, Eitesal, Techno El-Kher Assiut, and Mohamed Farid Khamis Foundation, in cooperation …

Daily News Egypt

IFC invests $26.2bn in funding startups across MENA region

The International Finance Corporation (IFC), which recently took part in the $2.5m fund that was raised by Palestine’s Ibtikar, is heavily investing in a number of startups across the MENA region. Part of the World Bank Group, IFC has reached a total sum of $26.2bn in investments in Arab-based startups. In addition to its investment …

Daily News Egypt

Startups in the Middle East: a fun(ding) adventure

The Middle East is a region of great opportunity. We have a large and young population with more than its fair share of problems, and as every entrepreneur knows, every problem is an opportunity; the bigger the problem, the bigger the opportunity. As a region, we are also one of the largest exporters of capital …

Mudassir Sheikha

Careem becomes MENA’s second unicorn, raises $350m

  Ride-hailing app Careem announced closing an initial investment round of $350m, as part of a $500m funding round. The investment of $350m was co-led by Japan’s Rakuten Inc. and telecom operator Saudi Telecom Company (STC). Up until now, investors in Careem include Abraaj Group, Al Tayyar Group, Beco Capital, El Sewedy Investments, Endure Capital, …

Daily News Egypt