EdVentures Partners with Mastercard Foundation to Boost EdTech in Egypt

EdVentures Partners with Mastercard Foundation to Boost EdTech in Egypt

By Press Release, 11 June 2024

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.

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:

  1. 5 Quarters: a dental student learning application
  2. Armstrong an interactive STEM e-learning platform.
  3. Business بالعربي: an Arabic self-development and business skills podcast.
  4. Career 180: career development and job placement solutions for youth.
  5. Deaf Gain: consulting services for the deaf and hard of hearing.
  6. Fednee: platform for networking, career development, mentoring, and collaboration.
  7.  iSchool: Teaching AI and coding for kids ages 6-17.
  8. Mharet Tefl: a speech therapy program for children.
  9. Nafham by Tayro: online learning application.
  10. OTO Courses: online one-on-one English and other courses.
  11. Science Street: promotes science literacy.
  12. Bayt Alkhyata: fosters social development for women and their communities.


Send us your press releases to shareyournews@lucidityinsights.com

Related Report

Investing in Egypt’s Startup Ecosystem

Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems