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

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

EdVentures, the investment arm of Nahdet Misr Group, an EdTech venture capital firm focused on 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.

The 2024 program’s selection process involved scanning over 210 applicants for EdTech startups across multiple governorates in Egypt. Through an 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 $60K in equity-free funding.

The inaugural Mastercard Foundation EdTech Fellowship cohort are:

  • 5 Quarters: a dental student learning application
  • Armstrong: an interactive STEM e-learning platform.
  • Business in Arabic: an Arabic self-development and business skills podcast.
  • Career 180: a provider of career development and job placement solutions for youth.
  • Deaf Gain: a provider if consulting services for the deaf and hard of hearing.
  • Fednee: a platform for networking, career development, mentoring, and collaboration.
  • iSchool: which teaches AI and coding for kids ages 6-17.
  • Mharet Tefl: a speech therapy program for children.
  • Nafham by Tayro: an online learning application.
  • OTO Courses: an online one-on-one English and other courses.
  • Science Street: a startup that promotes science literacy.
  • Bayt Alkhyata: a startup that fosters social development for women and their communities.

Over the next three years, the fellowship will support a total of 36 EdTech startups, driving positive change in the education sector.

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. Over the next three years, it will support a total of 36 EdTech startups, driving positive change in the education sector.

Established in 2017 by Dalia Ibrahim, CEO, EdVentures is the investment arm of Nahdet Misr Group, the EdTech specialized corporate venture capital firm in the MENA region. The firm 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. 

VCWire

10/06/2024