The collaboration between 500 Global, one of the world’s most active multi-stage venture capital firms, and the Egyptian Information Technology Industry Development Authority (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.
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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.
The 500 Global and ITIDA Scale Up Program unlocks unparalleled opportunities for Egyptian startups, empowering them to reach new heights. By providing top-notch resources, unwavering support, and global exposure, this program aims to revolutionize Egypt’s startup ecosystem, creating a thriving environment where entrepreneurial dreams can flourish.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard