The collaboration
between 500 Global,
one of the world’s most active multi-stage venture capital firms, and the
Egyptian Information Technology Industry Development Agency (ITIDA)
has given birth to an extraordinary opportunity for Egyptian
startups — the Scale Up program, the first cohort of which has just
been announced. This program, led by 500 Global, is specifically
designed to empower and support Pre-Series A startups in Egypt, offering
them a plethora of advantages.
Amal Annan, a partner at 500 Global, recognizes Egypt’s abundant pool of
promising founders and dynamic technology brands in the Middle East and Africa.
The primary goal of the Scale Up program is to provide these startups with the
best resources, support, and tools, enabling them to thrive locally and achieve
global success. Annan stresses the significance of talent development within
the region, fostering an environment where local startups can achieve
remarkable growth, expand their operations regionally and globally, and
introduce their unique concepts and technologies to a broad audience. The
partnership with ITIDA plays a vital role in developing this essential startup
ecosystem.
The Scale Up Program by 500 Global in Egypt is a seven-week hybrid program
exclusively designed for startups at the Pre-Series A or Series A stages. It
offers a comprehensive curriculum that encompasses proven strategies and
experimentation methodologies to accelerate the growth of these startups. By
focusing on personalized mentorship and customer expansion frameworks, the
program equips entrepreneurs with the necessary skills and knowledge to amplify
their market presence, streamline operations, and scale their businesses
effectively. Moreover, participants gain access to the extensive network of
partners, stakeholders, and other program participants within the 500 Global
ecosystem, opening doors to potential collaborations and partnerships.
In 2022, 500 Global partnered with ITIDA to introduce a suite of programs aimed
at strengthening Egypt’s cutting-edge startup ecosystem. These programs cater
to the diverse needs of local startups and innovators, offering both local and
global opportunities. The suite includes bootcamps specifically designed for
early-stage companies, the Scale Up program for startups at the Pre-Series A
and beyond stages, accelerator manager bootcamps, and strategic events and
partnerships. These initiatives are crucial in fostering innovation-driven
entrepreneurship and accelerating the growth of the local startup community.
Dr. Hossam Othman, Vice President at ITIDA, emphasizes the importance of
programs like Scale Up in accelerating the growth of the local startup
ecosystem and fostering innovation-based entrepreneurship. By bringing together
global experts, ecosystem players, stakeholders, mentors, founders, and
innovators, these programs create a vibrant startup community that propels the
economy and drives progress.
Throughout the seven weeks of the Scale Up Program, founders have the
opportunity to gain invaluable knowledge through a structured curriculum
focused on growth techniques and fundraising strategies. Additionally,
dedicated mentors provide personalized guidance, helping participants develop
actionable tools and solutions that can be immediately applied to their
business challenges. Payment companies accepted into the program also receive
the added benefit of one year of free access to desktop space at Creativa’s
Giza centers, both during and after the program, ensuring a conducive working
environment.
Source: Afrikan
Heroes
