US-based enterprise capital agency 500 Global is about to open an workplace in Egypt in partnership with Data Know-how Trade Improvement Company (ITIDA) to launch a variety of funding and startup-focused help programmes, the corporate stated in a press launch.
Over a interval of three years, the enterprise capital agency will deploy three separate applications that may help practically 200 startups and round 60 accelerator managers within the nation, with assist from its group of knowledgeable program managers, traders, and mentors.
500 World which is among the largest and most lively traders in rising firms on the earth has been investing in Egypt, for a decade and has backed greater than 60 Egyptian startups, together with MaxAB, Homzmart, and Breadfast. As a part of its partnership with ITIDA, the corporate additionally added Amal Enan as a 500 Global Partner in Egypt.
The enterprise capital agency boasts $2.7 billion in belongings beneath administration and has backed over 5,000 founders representing greater than 2,700 firms working in 81 nations. The corporate has additionally invested in 49 firms valued at over $1 billion and 150+ firms valued at over $100 million (together with personal, public, and exited firms), in line with information on its web site.
The partnership with ITIDA will empower the group of native entrepreneurs within the nation and encourage them to launch their initiatives and progressive startups in collaboration with a globally famend enterprise capital agency.