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UK to invest £1 million in Egypt startups

GROWING: Cairo tech scene

THE BRITISH Embassy have announced a £1-million investment fund to benefit startups of Cairo in Egypt.

The Embassy said the promise of funding was a show of confidence in Egyptian startups and will run for a period of 3 years between 2017 – 2020.

The fund is specifically for entrepreneurs who can demonstrate that their ideas are not only commercially viable, but also of wider benefit to society.

Egyptian entrepreneurs are invited to apply for backing, with successful startups to receive funding, technical advice and access to an international network of entrepreneurs.

The British Ambassador John Casson has already seen what Egyptian startups have to offer at the RiseUp Summit. The ambassador showed his enthusiasm to be a part of the list of many speakers, stating: “I challenge all of the startup community present today at the RiseUp summit, to bring the same energy to solving Egypt’s social challenges as they already bring to pursuing their business dreams.”

“We invite others already engaged in this work in Egypt to propose how we might work together on this important initiative.”

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