Be­daya Launches New $17M Fund for Egyp­tian Star­tups

Arabnet - The Quarterly - - Industry Stories -

The Be­daya Fund, owned by Egypt’s Gen­eral Au­thor­ity For In­vest­ment (GAFI), has an­nounced a new fund worth $17 mil­lion to sup­port SMES from var­i­ous sec­tors. In­vest­ments could reach $6.3 mil­lion and will tar­get star­tups with a min­i­mum val­u­a­tion of $2 mil­lion – ex­cept in the case of en­vi­ron­men­tal projects, which cur­rently make up around 15% of Be­daya’s in­vest­ments (par­tic­u­larly re­new­able en­ergy ven­tures). Fur­ther­more, 60% of the fund’s to­tal in­vest­ments go to ven­tures in re­mote ar­eas to in­crease the scope of en­tre­pre­neur­ial op­por­tu­ni­ties. The fund was ini­ti­ated by Be­daya’s Startup Academy, which has been help­ing en­trepreneurs since 2013 through a 3-month pro­gram that as­sists them with es­sen­tial steps like com­pany reg­is­tra­tion, busi­ness model de­vel­op­ment, man­ag­ing the mar­ket­ing, fi­nan­cial and le­gal affairs, and sus­tain­able tools for busi­ness, in ex­change for equity. The pro­gram’s sup­port lasts three to five years, af­ter which SMES typ­i­cally find an exit, mainly through the Nile Stock Ex­change (NILEX)”. Be­daya’s suc­cess sto­ries in­clude EGY GLOVE, a med­i­cal glove man­u­fac­tur­ing startup, and Bzns­builder, a cloud-based tool that al­lows en­trepreneurs to cre­ate in­vestor-ready busi­ness plans and track their progress, with in­sights on their mar­ket­ing and fi­nan­cial plans. Be­daya also plans to part­ner with the Academy of Sci­en­tific Re­search and Tech­nol­ogy (ASRT) in Cairo and raise $800,000 to help star­tups de­velop min­i­mum vi­able prod­ucts, through Be­daya.

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