Modus, a US-based and MENA-focused VC agency has struck a partnership with USAID to launch a enterprise builder (MV Builder II) to construct and assist female-led startups in Egypt and underserved communities.
- The information comes only a week after the corporate announced the launch of Modus Africa, a enterprise capital fund for AI and blockchain startups throughout sub-Saharan Africa.
- The MV Builder II will assist the Egyptian entrepreneurial ecosystem by offering operational and technical assist to speed up startups from the concept stage to a market-ready product.
- Though the enterprise builder is sector-agnostic, it’ll give attention to startups boosting monetary inclusion, digital literacy, entry to equitable healthcare and schooling, and lowering Egypt’s digital gender divide.
- USAID, in an announcement, mentioned it is supporting MV Builder II by a partnership beneath Digital Make investments, a blended finance program that seeks to mobilise personal capital for digital connectivity infrastructure and digital monetary providers that strengthen open, dependable, inclusive, and safe digital ecosystems in rising markets.
- The partnership will leverage USAID’s technical help and Modus’ market experience, funding observe report, and confirmed expertise in constructing scalable and profitable mission-driven tech startups.
- By means of Digital Make investments, USAID and Modus will work to beat this hole by supporting and scaling Fintechs and different tech-enabled startups that present secure and inclusive services to drive new earnings technology alternatives for ladies and underserved communities within the nation.