Swiss-based Early-stage pitching competition Seedstars has announced it will open its first Seedspace hub in Cairo, Egypt on the 4th of May. This was made known in a press release last Thursday.
According to the press release, the Seedspace will have a co-working area, with diverse membership plans in offering. Also, the Seedspace is designed to cater to varieties of office space needs ranging from single-desks areas to private offices for larger teams. Considerations have also been made for those visiting and planning to live in Cairo with the hub having a co-living area.
Seedstars has seven Seedspace hubs globally, including ones in Nigeria, Ivory Coast and South Africa, and is expanding its expansion with the launch of Seedspace Cairo.
Speaking on the latest development, head of operations at Seedspace, Romulo Navarrete said, “It is a strategic step for us at Seedstars, so that we can be closer to the community we have gathered over the last years, to continue supporting them 365 days throughout the year, with different activities, events and, of course, a great place from where businesses can be created, grown and scaled.”
According to Ventureburn, Navarrete said the aim is to have 15 hubs around the world by the end of this year. “This expansion is pivotal so that we can bring more impact to local ecosystems while interconnecting the different locations, creating access to an international community of entrepreneurs, mentors, investors and corporates interested in innovation,” he said.
The launch of the hub will coincide with one of the first pitching events under the 2018 Seedstars competition. The event will feature five entrepreneurs that target solutions that align with UN Sustainable Development Goals.
The winning startup will be invited to Switzerland next year where the company will have a chance to win up to $1-million in investment by competing against startups from other emerging markets.
