US-based PTS partners BTU to launch new studio for Egyptian startups
TLDR
- PTS Investments Holdings partners with Borg El Arab Technological University to launch digital platform for tech students and graduates.
- Collaboration includes the creation of the inaugural startup company "Kemtech Valley-BTU" to support research outcomes and graduation projects.
- Initiative aligns with Egypt's efforts in the Egyptian Applied Technology Valley, under the Supreme Council for Technological Education.
US-based venture capital firm PTS Investments Holdings has joined forces with Egypt's Borg El Arab Technological University to launch a digital platform to empower tech students and graduates on their entrepreneurial journey with a six-figure investment.
The agreement also entails launching the inaugural startup company through the specialized entrepreneurship studio “Kemtech Valley-BTU,” which aims to support and promote research outcomes and graduation projects.
This partnership falls under the umbrella of the Supreme Council for Technological Education of the Ministry of Higher Education and Scientific Research, as part of the Egyptian Applied Technology Valley, or “Kemtech Valley.”
Key Takeaways
Egypt is rapidly asserting itself as a key player in Africa's tech scene, boasting leading startups like SWVL, MNT-Halan, and Fawry. Within a short span, it has emerged as one of Africa's top four tech hubs, fueled by increased startup activity and significant capital inflows. Proactive government support and a robust local startup ecosystem have been instrumental in this growth. Notably, 38.6% of Egyptian startups have participated in acceleration or incubation programs, reflecting their proactive approach to growth. This acceleration underscores Egypt's vibrant entrepreneurial spirit and its potential to further solidify its position as a tech powerhouse on the continent.
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