500 Global Launches New Scale Up Program to Support Egyptian Startups

Global venture capital firm 500 Global has announced a new 500 Global Scale Up Program in Egypt, following the conclusion of the first project in 2023. 500 Global partnered with Egypt’s ​​Information Technology Industry Development Agency (ITIDA) to accelerate 15 startups in the country last year, and is seeking to recreate this success with ‘Batch 2’ of the programme.

The programme is a seven-week hybrid online scheme designed to empower Egyptian startups at or pre-Series A stages. Through personalised mentorship, the programme will focus on amplifying market presence and business scaling, helping companies to expand their customer bases and streamline their operations. 500 Global’s trusted curriculum included intensive growth techniques and fundraising-focused materials, which will help founders to generate actionable solutions for addressing business challenges.

Startups selected for Batch 2 of the Scale Up programme will also gain access to 500 Global’s exclusive network of stakeholders, partners and more, alongside a 12-weeks of post-programme support, with access to the VC firms community, events and office space in the country. Applications for the scheme must be submitted by March 1st for all founders who want their startup to be in with a chance of selection.

The arrival of global VC programmes such as this in Egypt is a symptom of the country’s burgeoning startup sector, with hundreds being founded every year. Though times are tough financially, Egyptian born-and-bread startups show promise in inviting international investment to a range of sectors.