Ministry of Communications and Information Technology
6 April 2021
ITIDA Organizes Hangout with VCs

The Information Technology Industry Development Agency (ITIDA) is organizing Hangout with VCs’ event to match ready-to-fund Egyptian startups with investors and venture capital funds (VCs). The event is organized online, on April 8, in collaboration with The Next Web (TNW), a Financial Times company focused on new technology and startups, with its well-established global network of investors and VCs.

The event is the first of its kind in the Middle East and Africa (MEA) region, and is organized in collaboration with ITIDA Technology Innovation and Entrepreneurship Center (TIEC). The aim is to unlock the Egyptian startups ecosystem potentials and highlight the boom it is witnessing, in addition to providing a unique opportunity for innovative startups specializing in ICT to interact with and pitch their ideas to 10 investors and VCs.

The event features a line-up of speakers and global investors. This is in addition to 25 pre-selected ready-to-fund startups, including EYouth, BasharSoft, WUZZUF, GBarena, Mazboot, Ordera, Shezlong, Wasla Browser, 1Trolley, Adzily, Amjaad Technology, Aqarmap, Dayra, Funnelll, Mogassam, CyberTalents, PASS APP, Rology, Talents Arena, WideBot, ZVendo, Odiggo, Pravica, Brimore, DXwand, ElGameya.

The list of participating investors includes Draper B1, from Spain; STV, from Saudi Arabia; Pito Capital, from the UK; SOSV, from China; Prosus Ventures and World Startup Factory, from the Netherlands; Silicon Badia and Dash Ventures, from Jordan; and Global Ventures and Access Bridge Ventures, from the United Arab Emirates (UAE).

The event offers the participants the highest possibility of success through its unique and compelling format, combining content, competition elements, pitches, and follow-up meetings between investors and startups, all facilitated virtually.

Capitalizing on this momentum, ITIDA is working with a global consultancy firm to articulate a comprehensive strategy to leverage the startup sector in Egypt, and establish an integrated system for technology innovation, with the aim of cultivating the entrepreneurial ecosystem and helping attract more venture capital funds.

Having recently ranked high in reports from Gartner, Startup Genome and Deloitte, Egypt’s startup ecosystem is thriving like never and embracing a new generation of entrepreneurs with globally competitive technological solutions. The country has recorded the largest number of investment deals in technology startups amounting to 24% of the total number of transactions in Africa in 2020.

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