Orange Egypt launches seed support venture for entrepreneurs, tech start-ups
Orange Egypt has announced the launch of a challenge for digital solutions and services in Egypt and the Middle East, under the sponsorship of Orange Group.
The challenge aims to support entrepreneurs and tech-driven start-ups during the ongoing coronavirus (COVID-19) crisis.
Many start-ups are currently experiencing difficulty accessing finance, due to the low number of active investors. It is particularly seed investments that have seen a decline due to the global pandemic.
The Orange Ventures MEA Seed Challenge is open to seed stage start-ups in Cameroon, Ivory Coast, Egypt, Jordan, Morocco, Senegal and Tunisia. Orange Ventures plans to invest a total of €500,000 in the MEA start-up ecosystem as a result of the challenge.
Up to seven seed stage start-ups will benefit from an investment of between €50,000 and €150,000. The challenge targets those start-ups that have high growth potential and use technologies at the core of their business.
These include Networks & IT, Digital enterprise, Cybersecurity, Fintech, Insuretech, Edtech, E-commerce, Digital Inclusion, Consumer platforms, Gaming, CleanTech, CareTech, and Enterprise solutions.
Orange Group has made the expansion in digital services an essential part of its 2025 strategy that aligns with the Egyptian government’s orientations and vision. Orange Egypt has been keen to invest in developing and promoting new technologies to keep pace with continuous developments around the world.
This has already led the company to innovate numerous digital solutions for individuals, companies and entrepreneurs, which have had a positive impact on the quality and efficiency of varied businesses.
“As a major player in supporting the digital ecosystem in our territories, it is important for Orange to provide a financing solution in addition to our training and support activities for entrepreneurs in Africa and the Middle East,” said Alioune Ndiaye, CEO of Orange Africa and the Middle East.
Yasser Shaker, CEO of Orange Egypt, said, “We are working hard to expand the scope of digital solutions not only for individuals and corporates, but also for entrepreneurs and start-ups.”
Shaker added, “We support their innovation and encourage them to transform their ideas into innovative solutions on the ground, especially in digital areas, which is the main cornerstone of institutions and companies’ success in the whole world.”
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