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EdVentures and Mastercard Foundation Partner to Boost Egypt's EdTech Startup Scene

Business Wire via ITWeb,
Johannesburg, 06 Jun 2024
The 12 Startups of the first Cohort of the MasterCard Foundation EdTech Fellowship in Collaboration with EdVentures (Egypt, 2024) - (Photo: AETOSWire)
The 12 Startups of the first Cohort of the MasterCard Foundation EdTech Fellowship in Collaboration with EdVentures (Egypt, 2024) - (Photo: AETOSWire)

EdVentures, the investment arm of Nahdet Misr Group and a leading EdTech venture capital firm in the MENA region, has announced a five-year partnership with the Mastercard Foundation to launch the Mastercard Foundation EdTech Fellowship in Egypt. This initiative aims to transform the African EdTech sector through digital innovation, inclusivity and youth empowerment, promising significant impact on Egypt's educational, IT, and economic landscapes.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240606498723/en/

The 2024 program’s selection process involved scanning over 210 applicants for EdTech startups across multiple governorates in Egypt. Through a meticulous evaluation process, 12 startups were chosen for an 8-month program, comprising specialized training, mentorship, workshops, networking, and access to courses. Each startup will receive $60,000 in equity-free funding. Over the next three years, the fellowship will support a total of 36 EdTech startups, driving positive change in the education sector.

"We are honored to collaborate with Mastercard Foundation, a testament of our impact in Egypt's EdTech sector," stated Dalia Ibrahim, Founder and CEO of EdVentures. "This collaboration is pivotal for the EdTech industry, aligning with our mission to foster innovation and empower young entrepreneurs. Together, we will continue to shape a robust EdTech ecosystem in Egypt, redefining learning experiences. We eagerly anticipate the forthcoming cycles, each contributing to our shared vision of a brighter future for education."

“Through our partnership with EdVentures, we are enhancing access to quality learning for Egypt's and Africa’s underserved learners through local technological solutions. In 2023, our EdTech Fellowship cohorts in South Africa, Nigeria and Kenya reached 2.6 million learners. We expect an even greater impact this year,” said Joseph Nsengimana, Director for the Mastercard Foundation Centre for Innovative Teaching and Learning.

The inaugural Mastercard Foundation EdTech Fellowship cohort are:  

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About EdVentures:

Established in 2017, EdVentures is the investment arm of Nahdet Misr Group, the leading EdTech specialized corporate venture capital firm in the MENA region. The company supports startups operating in the education and EdTech sectors through its incubation, acceleration, and investment programs. Since its launch, EdVentures has supported over 77 startups and invested in 21 of them. www.nmedventures.com

Nahdet Misr is a prominent learning conglomerate in the MENA region, dedicated to empowering individuals through education and skill-building. The group offers integrated solutions, spanning curriculum development, digital learning, capability building, vocational education, EdTech investment, and publishing. www.nahdetmisr.com

About Mastercard Foundation EdTech Fellowship:

The Mastercard Foundation EdTech Fellowship is an entrepreneurship acceleration program that supports promising African EdTech ventures. In partnership with innovation hubs and accelerators across Africa, the Fellowship provides critical business, financial, and educational support to help EdTech companies scale, achieve sustainability, and increase impact. Launched in 2019, the Fellowship has supported 12 companies from seven countries, reaching over 800,000 learners, with plans to partner with 12 tech hubs to support over 250 EdTech companies and reach 1.8 million young people by 2025.

Source: AETOSWire

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606498723/en/

Contacts

Mrs. Kamla Sallam
kamla.sallam@nahdetmisr.com
Landline: +20233466434