participants of “Towards Creating an Enabling Environment for Venture Capital and Start-ups in Egypt” symposium- press photoCAIRO - 19 July 2021: The Information Technology Industry Development Agency (ITIDA) has participated in the “Towards Creating an Enabling Environment for Venture Capital and Start-ups in Egypt” symposium, jointly arranged by USAID, The American Chamber of Commerce in Egypt (AmCham) and ITIDA. The symposium, held on the 28th of July 2021, aims at empowering and scaling up the thriving startup business environment in Egypt by shedding light on the best practices and the governance of venture capital. “The Egyptian startups had recorded the highest venture investment of USD190m, up 30% YoY in 2020, with a CAGR of 100% from 2015-2020,”, Mahfouz noted. The sessions discussed topics of best practices for attracting more venture capital firms to Egypt, advancing regulatory reforms to create a prosperous ecosystem, and availing a roadmap for entrepreneurs and tech-enabled Startups. “International VCs represent 32% of all investors supporting Egyptian startups in 2020, compared to 21% in UAE and 18% in KSA”, he added.

Source: Egypt Today July 29, 2021 09:22 UTC