EdVentures, the venture capital arm of Nahdet Misr Group, and the Mastercard Foundation have announced a transformative five-year partnership to launch the Mastercard Foundation EdTech Fellowship in Egypt. This initiative aims to revolutionize the African EdTech landscape through digital innovation, inclusivity, and youth empowerment, promising a profound impact on Egypt’s educational, IT, and economic sectors.
In its inaugural year, the fellowship meticulously reviewed over 210 EdTech startup applications from various governorates in Egypt. After a rigorous selection process, 12 standout startups were chosen for the 8-month program. These startups will benefit from specialized training, mentorship, workshops, networking opportunities, and access to courses. Additionally, each will receive $60,000 in equity-free funding. Over the next three years, a total of 36 EdTech startups will be supported, driving substantial positive change in the education sector.
Dalia Ibrahim, Founder and CEO of EdVentures, commented on the partnership. “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.”
Joseph Nsengimana, Director for the Mastercard Foundation Centre for Innovative Teaching and Learning, expressed similar enthusiasm. “Through our partnership with EdVentures, we are enhancing access to quality learning for underserved learners in Egypt and across Africa 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.”
The initiative does not only support selected startups but also aims to foster a vibrant EdTech ecosystem in Egypt, encouraging innovation and providing young entrepreneurs with the tools they need to succeed.
