The British Embassy in Cairo is set to invest US$1.2 million in Egyptian startups as a measure to support and encourage the thriving technology and entrepreneurial space in the country.
According to a statement by the British Council, prospective Egyptian entrepreneurs are invited to apply to receive funds, get technical advice and connect with a network of international entrepreneurs as long as their ideas or startups have social impact.
“Social impact is key to the process of applying for the fund. Examples of social impact would be startups that help to create jobs, gives opportunities to women, supports deprived regions, or improves access to or delivery of public services (health and education in particular). The final selection will be in the form of a competition with winners selected by an independent panel of experts.” The statement says.
The statement concluded by “inviting others who are already engaged in this social impact projects in Egypt (angel investors in particular) to propose how we might work together on this important initiative.”
