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3 Million EGP as Seed Investment by EdVentures for EYouth

2 years 6 months ago

Cairo-based social startup EYouth, has raised 3 Million EGP ($180,000 USD) as seed funding from EdVentures, the venture capital arm of Egypt’s Nahdet Misr Publishing House.

EYouth founded in 2010 by Alaa Obeida and Mostafa Abdellatif, it aims at empowering youth, especially in Egypt’s different governorates, through providing them with diversified training programs. In 2018, Eyouth took part of Falak Startups acceleration program’s first cycle receiving pre-seed investment, tailored mentorship and substantial market access opportunities. EYouth have trained more than 65,000 in 27 cities across Egypt and helped launch more than 1500 social enterprises and initiatives.

The company will use the allocated investment to develop an online platform to grow their entrepreneurial services in Egypt and expand to other African countries.

“What also makes us quite happy with this investment is that we get to contribute more to growing Egypt’s entrepreneurial ecosystem and help thousands of young Egyptians find new work opportunities.” added Dalia Ibrahim.

“In light of the fierce competition in the labor market, therein lies a great demand for investing in training and developing skills and capabilities of young entrepreneurs located in various governorates and even extend this to other Arab and African countries," said Alaa Obeida, co-founder and innovation director at EYouth.

“EdVentures focuses on empowering youth through education, and promoting innovation and entrepreneurship; thus, we see our investment in EYouth as key in extending our support to a wider base of young entrepreneurs specially those located in upper Egypt with very limited resources.“ said Dalia Ibrahim, the founder of EdVentures and CEO of Nahdet Misr Publishing House.

The corporate VC, EdVentures was launched in 2017 by Nahdet Misr Publishing House. It supports and invests in startups specializing in education, culture and innovative learning solutions in seed and pre-series A rounds focusing on Egypt, Africa, and the Arab World.  It provides technical and financial support to startups in order to ensure success and continuity in the market by providing investment according to the needs and maturity level of each company.

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