In a groundbreaking move to bolster innovation and entrepreneurship in Egypt, the T-Vencubator Fund has been officially unveiled. Pioneering a fusion of venture capital funds and business incubators, this initiative is exclusively dedicated to supporting companies offering technological solutions to address the real challenges facing Egyptian society.

The T-Vencubator Fund represents a golden opportunity for local startups leveraging technology to confront the multifaceted challenges prevalent in Egyptian society. It introduces a novel approach by supporting entrepreneurs with both venture capital and comprehensive incubation support essential for their growth. The term “Vencubator,” a blend of Venture Capital and Incubator, encapsulates this innovative concept.

Reem Safi, the Founder and CEO of T-Vencubator Fund, emphasized the timely nature of the fund’s launch. In a global context where startups play a pivotal role in developing economies, Safi sees investing in these companies as a national duty, given Egypt’s track record of startup success in recent years.

Safi stated, “We believe that technology can address many of the issues facing Egyptian society. Egyptian minds harbor innovative ideas capable of tackling these problems. We are not just injecting financial investments into startups; we are investing in exceptional talent that will shape Egypt’s future.”

Detailing the investment plan, Safi outlined the focus on promising companies with robust ideas providing technological and AI-driven solutions to societal challenges. Specific companies and investment amounts will be disclosed throughout 2024.

Hazem El Samra, Head of Growth and Marketing at T-Vencubator Fund, expressed pride in launching the first investment fund and business incubator with a distinctly Egyptian character. Emphasizing key selection criteria, he noted, “We focus on innovative ideas grounded in the latest technological solutions capable of addressing the real challenges in our community.”

El Samra continued, “Inspiring ideas based on technology deserve to be highlighted. While financial investment is crucial, practical support rooted in knowledge and experience is equally vital, forming the core philosophy of the T-Vencubator Fund.”

Egypt currently leads the Middle East in startup funding volume, underscoring the country’s market size and the significance of an Egyptian success partner. Such a partner, as T-Vencubator aims to be, provides crucial elements for the success of Egyptian companies, including financial support, mentorship, a local vision, technological infrastructure, and necessary human resources for innovation and success.

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.