• About Us
  • Contact Us
Friday, May 27, 2022
Sada El balad
Supervisor
Elham AbolFateh
Editor in Chief
Mohamed Wadie
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات
No Result
View All Result
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات
No Result
View All Result
Sada El balad
Supervisor
Elham AbolFateh
Editor in Chief
Mohamed Wadie

Egypt Ventures Leads $1 Mln Financing Round for Start-up Nawah

Hassan El-Khawaga by Hassan El-Khawaga
9:30 PM January 15, 2021
Egypt Ventures

Egypt Ventures

Share on FacebookShare on Twitter

Chairman and Managing Director of Egypt Ventures Ahmed Gomaa said that Egypt Ventures led a financing round for the emerging company, Nawah, the first private Egyptian multidisciplinary research center for natural and medical sciences, with a value of $1 million.

This is in line with Egypt Ventures to support and promote entrepreneurship in tech companies and technology-backed companies at the local and regional level.

Gomaa added that they were one of the first institutions supporting Nawah in enabling its scientific research in the Middle East and Africa. The new financing round will enable the company to expand its business and enter new markets.

He added that the new financing round raised the capital of Nawah to $2 million, led by Egypt Ventures. This also succeeded in attracting private sector investors, namely, Alexandria Fund, Cairo Angels, Alex Angels, Hult Alumni Angels, and a number of international investors.

Founder and CEO of Nawah Dr. Omar Sakr explained that his company has, since 2015, contributed to empowering the scientific community in Egypt; helping researchers and pharmaceutical companies by facilitating their work through various services. The company aims to help the MENA region have a future of distinguished scholars in scientific research.

Nawah is the first private Egyptian multi-disciplinary research center for natural and medical sciences that aims to empower the scientific community and provide various facilities for researchers and scientists to carry out their research and experiments by doing five basic tasks.

This includes analyzing samples by providing the latest devices and sending results to researchers, instead of analyzing samples abroad to save time and research resources.

Advertisements

The company also trains researchers on how to use devices, provides an opportunity for them to analyze their samples directly, conducts basic and advanced practical courses taught by Egyptian and foreign experts, and provides courses for companies and research groups – with the participation of universities and companies in scientific projects inside and outside Egypt.

There is also a focus on projects that have an added value to Egypt, as well as securing research in partnership with major incubators to move scientific discoveries into production and marketing phases.
Egypt Ventures secured direct and indirect investments with a total value of EGP 103.8 million during 2020 to develop the entrepreneurial environment and push forward emerging companies in Egypt.

This includes EGP 72.4 million direct investments in 6 companies and EGP 31.4 million indirect investments in a business accelerator. This brings the total investments since the company was established in 2017, to about EGP 306.2 million in 150 companies, of which EGP 139.9 million are direct investments and EGP 166.3 million are indirect investments.

According to the 2020 annual report of the Ministry of International Cooperation titled “International Partnerships for Sustainable Development”, the ministry secured development financing agreements worth $9.8 billion during the year; $6.7 billion for financing sovereign projects, and $3.1 billion in support of the private sector.

Within the portfolio of the Ministry of International Cooperation, there are currently 34 projects in innovation, digitalization, and entrepreneurship contributing to 13 of the UN Sustainable Development Goals (SDGs) with a total development financing of $1.014 billion; 4% of Egypt’s ODA portfolio. The total ODA portfolio amounts to $25 billion.

Tags: AfricaEgyptEgypt VenturesMiddle EastMinistry of International CooperationUN Sustainable Development Goals

Related Posts

Egyptian Couple Found Dead in Virginia
LATEST STORIES

Egyptian Couple Found Dead in Virginia

May 27, 2022
Russia and China veto US draft resolution on North Korea
LATEST STORIES

Russia, China Veto US Resolution on North Korea

May 27, 2022
Watch … Flying Museum to Honor Maradona
LATEST STORIES

Watch … Flying Museum to Honor Maradona

May 27, 2022
Hamdeen Sabahi Praises National Dialogue in Egypt
LATEST STORIES

Hamdeen Sabahi Praises National Dialogue in Egypt

May 27, 2022
Depeche Mode Keyboardist "Andy Fletcher" Dies Aged 60
Arts & Culture

Depeche Mode keyboardist “Andy Fletcher” Dies Aged 60

May 27, 2022
Moderate Weather Prevails across Egypt
News

Cairo to See Hot Weather on Friday

May 27, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Stories

May 25th Marks Africa Day
Arts & Culture

May 25th Marks Africa Day

by Ahmed Emam
May 25, 2022
0

May 25th marks Africa Day, fondly known as African Freedom Day and African Liberation Day. The day marks the foundation...

 Tamer Ashour

Tamer Ashour to Perform in Saudi Arabia on June 1

May 23, 2022
Centamin Co. Plans to Start $ 10 Mln Investments for Gold Mining by 2023

CBE Raises Sukari Gold Mine Purchases to EGP 80M Monthly

May 22, 2022
Zelenskyy Calls Russian Offensive in Donbas 'Hell'

Zelenskyy Calls Russian Offensive in Donbas ‘Hell’

May 20, 2022
Nancy Ajram

Nancy Ajram to Perform Live in Jordan on June 18

May 20, 2022

We Chose for You

May 25th Marks Africa Day
Arts & Culture

May 25th Marks Africa Day

by Ahmed Emam
May 25, 2022
0

May 25th marks Africa Day, fondly known as African Freedom Day and African Liberation Day. The day marks the foundation...

 Tamer Ashour

Tamer Ashour to Perform in Saudi Arabia on June 1

May 23, 2022
Centamin Co. Plans to Start $ 10 Mln Investments for Gold Mining by 2023

CBE Raises Sukari Gold Mine Purchases to EGP 80M Monthly

May 22, 2022
Zelenskyy Calls Russian Offensive in Donbas 'Hell'

Zelenskyy Calls Russian Offensive in Donbas ‘Hell’

May 20, 2022
Nancy Ajram

Nancy Ajram to Perform Live in Jordan on June 18

May 20, 2022
  • News
  • Antiques
  • Travel & Tourism
  • Business
  • Youth & Education
  • Sports
  • Arts & Culture
  • Lifestyle
  • Technology
  • Entertainment
  • Videos & Features
  • Opinion & Analysis

© 2019 see news -powered by 3a digital.

No Result
View All Result
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات

© 2019 see news -powered by 3a digital.