Disrupt Africa announces further partners for open-sourcing of Egyptian startup ecosystem report
Written by TOM JACKSON
Startup-focused news and research company Disrupt Africa has announced VC firm Global Ventures and startup accelerator AUC V-Lab have joined Egypt’s Information Technology Industry Development Agency (ITIDA) as partners for the open-sourcing of the “Egyptian Startup Ecosystem Report 2021”.
Since launching its research arm in 2016, Disrupt Africa has built up a significant portfolio of publications, most notably the African Tech Startups Funding Report and Finnovating for Africa, previously available for sale but now made available free for all via open-sourcing initiatives with various partners across the continent’s tech ecosystem.
The company revealed last month it had partnered ITIDA to release the “Egyptian Startup Ecosystem Report 2021”, its first country-focused publication. Due for release in the next few weeks, the report will be a deep-dive into the Egyptian startup scene, utilising Disrupt Africa’s datasets, expertise and networks to document what startups are doing what in Egypt, who is making investments, who is providing ecosystem support, and how startups from the country are expanding into the rest of Africa.
A further two partners have now been announced. Global Ventures is a UAE-based venture capital firm, investing in founders and ideas scaling across emerging markets, including Egypt, while AUC Venture Lab (V-Lab) is Egypt’s first university-based startup accelerator and a leading accelerator in the Middle East and Africa.
“As capital allocators, our investment decision-making process is guided by data and market insight. Yet, in the nascent ecosystem of emerging markets, information is not always readily available.
Disrupt Africa is stepping in to fill in this gap, and we are thrilled to partner with them for this report on a market we are continuously and exceedingly excited about,” said Basil Moftah, general partner at Global Ventures.
AUC V-Lab is partnering with Disrupt Africa to support the fintech section of the report, and Dr Ayman Ismail, AUC’s Abdul Latif Jameel Endowed Chair of Entrepreneurship and AUC V-Lab Director, explained why.
“The fintech space in Egypt is facing unprecedented growth with innovative solutions and developing regulations. The country’s vast population along with the high mobile penetration makes Egypt ripe for financial technology solutions that enhance financial inclusion and economically empower individuals,” he said.
“For the past five years, AUC Venture Lab’s Fintech Accelerator has been committed to enabling fintech entrepreneurs and empowering them with the knowledge and networking opportunities they really need.
We are gladly supporting the fintech section of Disrupt Africa’s Egyptian Startup Ecosystem Report as it offers insights for anyone looking for information about the space and its key players and the growing ecosystem at large.”
As with this year’s African Tech Startups Funding Report 2021, which has been downloaded almost 4,000 times, and Finnovating for Africa 2021, released in June and already downloaded 1,500 times, the Egyptian Startup Ecosystem Report will be available to all for free, making the data and analysis contained in its pages accessible to those for whom the information is most valuable – entrepreneurs.
The publication, which will be in 15th in total released by Disrupt Research, will be approximately 80 pages in length and provide a detailed overview of the Egyptian startup ecosystem and its development over the last 5-10 years.
It will involve analysis as to what areas startups are active in, a detailed look at funding and M&A trends, and detail the range of startup support services available to Egyptian entrepreneurs, including hubs, incubators, accelerators, and government, corporate and university initiatives.
Another section will look at the growing trend of Egyptian tech startups expanding into the wider African region, and consider key success stories in this regard.
About Disrupt Africa
Disrupt Africa is the one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas. Its research arm releases in-depth reports on various aspects of the African tech startup ecosystem. Details here.
About ITIDA
The IT Industry Development Agency (ITIDA) is the executive arm of the Egyptian Ministry of Communication & Information Technology. Since its establishment in 2004, ITIDA’s core ideology has been spearheading the development of Egypt’s IT industry to increase its global competitiveness and make it a key contributor to the country’s economic growth.
Understanding the significant role of innovation and tech-driven entrepreneurship as key drivers for economic growth, ITIDA collaborates with distinguished public and private stakeholders including universities, multinationals, accelerators, incubators, investors to nurture and support the development of rising tech and tech-enabled startups.
This includes addressing the dynamic and changing needs of the startup ecosystems through comprehensive educational tools, incentive programmes and matchmaker platforms helping startups implement ideas, scale up businesses and attract local & international investments.
About Global Ventures
Global Ventures is a UAE-based venture capital firm, investing in founders and ideas scaling across emerging markets. Global Ventures backs global-minded founders that are leading growth-stage companies and using technology to transform emerging markets.
Portfolio companies include Arrow Labs, Buseet, Elmenus, Floranow, Helium Health, Holiday Me, Lean, Mamo, Much:on, Ogram, Paymob, Proximie, Pyypl, Spider Silk, Tabby, Tarabut Gateway, Team Apt, Tribal and Zension. Noor Sweid and Basil Moftah are the General Partners of Global Ventures. More information can be found at https://www.global.vc/.
About AUC V-Lab
AUC Venture lab (V-Lab) is Egypt’s first university-based startup accelerator and a leading accelerator in the Middle East and Africa founded in 2013. It supports innovation-driven and passionate entrepreneurs looking to build Egypt’s next generation of tech unicorns through a sector-agnostic accelerator and a fintech accelerator.
Over the past five years, AUC Venture Lab’s Fintech Accelerator powered by the Commercial International Bank and in partnership with the International Finance Corporation and Mastercard has graduated more than 50 financial technology startups offering solutions across payments, savings, insurtech, infrastructure, lending and investments.
In 2020, AACSB, the leading business network, ranked the V-Lab Fintech Accelerator among the top 25 fintech innovations worldwide. To date, V-Lab startups have raised more than EGP 3 billion in investments, generated EGP 835 million in revenues and created 8500+ jobs. V-Lab’s portfolio of graduates includes: Swvl, Bosta, El Gameya, Amanleek, Dentacarts and Rology.
