By Hamed Mahmoud
The Information Technology Industry Development Agency (ITIDA) has launched the ‘Hangout with VCs” conference. The virtual event is held in collaboration with ‘The Next Web’; a Financial Times company, focused on new technology and startups, with a well-established global network of investors and VCs.
The event is designed to match ready-to-fund Egyptian startups with global investors and venture capital funds. A total of 25 Egyptian pre-selected startups have the chance to pitch their ideas and business plans with 10 of the global investors, VCs, and business accelerators who are actively looking for the next investments.
In an efficient format and virtually designed backstage, a number of sideline meetings will follow between VCsand selected innovative tech startups, availing aneasy access and close unique opportunity for the startups founders to showcase their path of growth and success.
The VCs list includesDraper B1from Spain, STV from KSA, Piton Capitalfrom London, SOSVfrom China, Prosus Venturesand World Startup Factoryfrom the Netherlands,Silicon BadiaandDash Ventures from Jordan, Global Ventures andAccess Bridge Venturesfrom Dubai.
“We are excited to organize such an event for the first time in the MEA regionwith TNW to jointly help and support some of our local innovative startups at a time when there Isa pressing global demand for innovative tech solutions to be able to thrive during the global pandemic”; ITIDA CEO, Amr Mahfouz said.
Mahfouz highlighted that Egypt is becoming the fastest-growing startup ecosystem in the region witha new generation of entrepreneurs, offering globally competitive technological solutions.
Egypt has recently ranked high in reports from Gartner, Startup Genome and Deloitte; 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.
“Egypt enjoys a large pool of skilled talent, where more than 500kuniversity grads annually, out of which 50kinformation technology specialty.”, Mahfouz added.
ITIDAis heavily investing in skilling up this huge talent pool through availing and funding dedicated and custom-tailored training programs on disruptive and high-demand technologies to upgradethe skills,in addition to its commitment towards promoting entrepreneurshipamong youth and nurturing their innovation.
The list of the Egyptian startups includes Youth, 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“Hangout with VCs”event is the first of its kindin the MEA region by TNW, and comes in collaboration with ITIDA and TIEC to unlock the Egyptian startups’ ecosystem potential and highlight the boom it is witnessing, in addition to availing a unique opportunity for Egyptian innovativetechnology startups to engage with a crowd of investors or the target VCs attending.