Back to the complete issue
Thursday, 7 December 2017

Egypt’s startup “revolution” boosts Africa’s tech landscape -Quartz

Egypt is experiencing a startup “revolution” that is set to change the continent’stech landscape, Abdi Latif Dahir writes for Quartz Africa. “Egypt’s nascent tech scene remains a bright spot for the country. And after years of being scared off by political turmoil, investors are making a comeback with fundraising for Egyptian startups jumping 105% in 2016 alone,” Dahir says. Mumm’s founder Waleed Abd El Rahman says “there is this striving ecosystem that is growing very very quickly and it is governed by a social contract that has a lot of ethics that is geared towards building this space, and making Egypt a better place.”

(TRIGGER WARNING: We love entrepreneurs — being starters of multiple businesses ourselves — and we love tech. But it’s hard not to want to hurl ourselves from the roof of the nearest 10-storey structure every time we hear pabulum that includes the word “ecosystem.”)

Egyptian agribusiness startups are also getting a glowing review from The Independent, which focuses on the budding aquaponics agriculture sector. Aquaponics — a system of agriculture which utilizes fish to help provide plants with nutrients — has seen a number of startups forming recently, including Bustan and Agrimatic, and is increasingly being seen as a sustainable and eco-friendly alternative to water-intensive traditional agriculture methods. But the industry faces challenges such as high startup costs and hence a higher priced product which might be difficult to compete with its cheaper alternative. By carving out niche brands among the organic-eating elites of Cairo, and supplying directly to the city’s top restaurants, businesses have managed a work around, writes Edmund Bower.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.