Organize an event to showcase projects

The seed and pre-Series A startup program begins with a 3-day founder retreat.

Cairo, Egypt - 500 Global , one of the most active venture capital firms in the world, and the Information Technology Industry Development Authority (ITIDA), announced the first batch of 500 Global, a program for business growth in Egypt, called ScaleUp. Scale Up.

The "ScaleUp" program in Egypt extends over a period of seven weeks, and specializes in supporting startup companies in the financing and seed stage (A) financing, and is designed to empower the founders of these companies through personal guidance and introducing them to growth methods, in order to pave the way for future success for them.

Scheduled on November 16, the Scale Up Showcase will be held to celebrate the progress made by founders and their companies, including fintech companies, marketing technology companies, real estate companies, logistics companies, supply chain companies, and others. The event will witness presentations and discussion sessions for an audience that includes stakeholders and partners.

On this occasion, Amal Anan, partner at 500 Global, said that the founders of Egyptian companies were able, despite the challenges facing the global and local economies, to prove that Egypt is still “a thriving market for technology in the Middle East and Africa,” which was evident in the intense competition. Which was witnessed by the SkillUp program. She confirmed that the program included competent people who were able to continue working in building “flexible companies with great capabilities,” noting that the goal of the program is to provide a supportive environment for the leaders who are selected to achieve sustainable growth and expand the scope of their presence.

Anan expressed her gratitude for the ongoing partnership with ITIDA in developing the startup ecosystem in Egypt, and added: “The program brings to Cairo expert mentors and experienced investors to provide company founders with the knowledge and experience necessary for the success of their businesses. The program also seeks to develop talent in the region and prepare them to work for companies.” “Local startups in order to support their expansion and growth in their areas of operation, leading to the launch of their unique business models and technologies to consumers and companies globally.”

The program began on October 1 at the Cretiva Center in Giza, one of Egypt's Digital Innovation Centres, also known as the "Factory", and managed by ITIDA. The batch set off on a trip to Fayoum to retreat in retreat for 3 days, in order to delve deeper into the areas of founders’ well-being and leadership safety by engaging in empowerment activities and spending time building the community of participants in this batch, which established the foundation for greater eagerness to participate in the upcoming workshops that Organized and presented by Global 500 mentors. Workshop topics included growth experiences, sales and marketing, operational excellence, recruitment, and others.

The 500 Global partnership with the Ministry of Communications and Information Technology and ITIDA began in 2022, with the aim of stimulating the cycle of innovation and scaling up the startup ecosystem in the country. Dr. Hossam Othman, Vice President of the Information Technology Industry Development Authority (ITIDA), said that the authority’s support extends throughout the life cycle of entrepreneurship, noting the importance of programs, such as “ScaleUp”, in accelerating the growth of the Egyptian startup ecosystem and promoting entrepreneurship. Innovation based. He added: “By bringing together leading global players, such as experts, prominent companies, stakeholders, mentors, entrepreneurs and potential founders, we are creating a vibrant startup community that helps enrich, grow and take our ecosystem to the next level.”

The program is scheduled to culminate with the Scale Up Showcase on November 16, at the Cretiva Giza Center, in Cairo. This exclusive event provides the opportunity for the group of startup companies under the umbrella of the program to showcase their innovative projects, in addition to providing the founders with the opportunity to communicate with the “Global 500” network of leaders, partners, and the most prominent players in the system from various sectors. The "Skillup Showcase" exhibition will witness startups presenting demonstrations and product introductions, in addition to listening to keynote speeches delivered by prominent international speakers, including Sean Ellis, author of the book "Hacking GrowthK." Panel discussions will also be held focusing on the regional and global scenes. Courtney Powell, Chief Operating Officer and Managing Partner at 500 Global, is hosting a brunch to which a number of exhibition participants are invited.

The program continues to provide support for a period of 3 months after the exhibition, allowing beneficiaries to attend individual meetings with mentors and advisors, while also allowing them to benefit from office space in the “Cretiva” Giza Center, free of charge for an entire year, and to draw growth maps for companies, and other privileges.

Startups participating in the first batch of the program:

• Bird Nest is a company that develops, operates and leases technology-enabled properties.

• Blink , a digital consumer finance platform powered by artificial intelligence, is driving financial inclusion in Egypt.

• ConvertedIn , an e-commerce marketing operating system, uses data and shopper information to create personalized multi-channel marketing.

• Dress Code , a fast fashion DTC company that enables young people to buy high-quality clothing at affordable prices.

• FriendiCar , the first and leading operator of the car subscription model among individuals in the Middle East and North Africa.

• ILLA , a logistics holding group providing comprehensive delivery solutions to consumer product companies.

• “Khaznali” , a multi-channel technology platform for logistics services.

• MQR offers high-quality, widely accessible gathering spaces with hospitality services and facilities.

• "Nawlon" is an online shipping platform that allows companies wishing to ship their products between countries to scan the market for the best shipping options, receive instant quotes, in addition to tracking shipments.

• Now Pay is a fintech startup that creates a platform for employee financial well-being.

• “07 Therapy” is revolutionizing the field of mental health through the largest integrated digital platform in the Middle East and North Africa region.

• "Orcas" is a platform that provides live educational experiences for students from kindergarten to twelfth grade.

• Rology , a platform for diagnostic radiology experts powered by artificial intelligence.

• Spled , building a digital platform for restaurant supply chains.

• Cylinder , a leading marketplace for used cars in Egypt, serves consumers and dealers in buying, selling and financing.

Those wishing to participate in the exhibition can submit requests to attend by registering via the website: https://thescaleupshowcase.splashthat.com

500 Global

Global 500 is a venture capital firm with assets under management of $2.4 billion (as of the end of June 2023), and invests in the establishment of fast-growing companies in technology fields. The company's focus is on markets where the combination of technology, creativity and capital can create long-term value and drive economic growth. The company works closely with the most important stakeholders, providing advice to government agencies on the most appropriate ways to enhance the entrepreneurship environment with the aim of making startups successful. Global 500 has supported more than 5,000 founders representing more than 2,800 companies in more than 80 countries, and has invested in 35 companies whose value today exceeds a billion dollars, and in 160 companies whose value exceeds 100 million dollars, including private and listed companies, and companies in which their shares have been sold. The company's team of more than 200 employees is distributed in more than 30 countries, and they have experience in entrepreneurship, investment, and operation gained from working in various technology institutions.

Information Technology Industry Development Authority (ITIDA)

The Information Technology Industry Development Authority (ITIDA) is the executive arm of the Egyptian Ministry of Communications and Information Technology . Since its establishment in 2004, the Authority’s idea has been based on seizing leadership in developing the Egyptian information technology sector to create greater competitiveness on a global scale and make it one of the most important growth factors in the Egyptian economy.

Based on its understanding of the essential role that technology-supported entrepreneurship plays in driving economic growth, the Authority cooperates in developing the information technology sector with distinguished private and governmental parties, including universities, international institutions, business accelerators, incubators for startup companies, and investment parties, with the aim of supporting the growth of startup companies working in technical fields. And emerging companies whose business is based on advanced technical solutions.

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© Press Release 2023