On Wednesday, the SelectUSA Tech competition took place at the American University in Cairo (AUC), bringing together leading Egyptian startups competing for the opportunity to participate in the upcoming SelectUSA Investment Summit in the United States.
The event concluded with the announcement of two winning startups, in addition to two companies receiving honorable mentions, following a competitive evaluation process led by a specialized judging panel.
The competition forms part of the broader SelectUSA Investment Summit framework, the premier federal US event dedicated to promoting foreign direct investment into the American economy.
Organized through the US Department of Commerce’s SelectUSA program, the initiative connects international investors, companies, economic development organizations, and government stakeholders to facilitate investment partnerships and market expansion opportunities.
The event was attended by Acting US Ambassador to Cairo, Evyenia Sidereas, who praised the participating entrepreneurs and highlighted the importance of innovation-driven economic growth. In her remarks, she said, “I am pleased to celebrate these innovators who contribute to building the economy. As we all believe, real progress requires collective effort, or as the Egyptian proverb says, ‘One hand alone cannot clap.’”
She also expressed appreciation to the American University in Cairo and partner organizations that nominated entrepreneurs to the SelectUSA competition, describing it as the largest US event dedicated to connecting companies seeking expansion opportunities within the world’s largest market.
Sidereas noted that officials across different US states are actively working to support new investors and provide optimal conditions for business success.
She added that the next global gathering will take place in May near Washington, D.C., where startups participating through the SelectUSA Tech track will have the opportunity to present their ideas and access investment and institutional support in cooperation with the US Departments of Commerce and State.
Addressing the twelve finalists, she emphasized that reaching this stage reflects strong innovation capabilities and competitive potential.
She explained that the top two winners will receive full benefits to participate in the May summit, while other finalists remain eligible to join the Egyptian delegation.
She also stressed the importance of international networking, noting that cross-border partnerships often create long-term business value.
Following the ambassador’s remarks, Paul Oliva, Senior Commercial Officer at the US Embassy in Cairo, spoke to reporters, emphasizing that SelectUSA Tech represents a strategic platform enabling Egyptian entrepreneurs to present their innovative solutions to international investors.
He noted that the program provides access to venture capital funds, early-stage investors, incubators, and accelerators, helping startups position themselves within the US market, which remains the largest and most influential globally.
Oliva explained that the Egypt-based competition featured 16 startups nominated by local incubators and investment funds.
These startups delivered competitive pitches evaluated according to strict criteria, including market opportunity size, technical feasibility, commercial and investment viability, innovation uniqueness, and scalability potential.
He confirmed that the competition concluded with the selection of two winning startups, alongside two receiving honorable mentions.
The two winners will receive financial support from the U.S. Embassy to travel to the United States in May to participate in the SelectUSA Investment Summit, where they will present their projects to a wider network of investors and potential partners.
Oliva added that the initiative reflects ongoing institutional coordination between the United States and Egypt, particularly with ministries responsible for communications and economic development, in addition to cooperation with universities, incubators, and startup accelerators.
He stressed that support extends beyond funding to include legal and regulatory guidance, investment framework awareness, and preparation for entering the US market.
He further noted that strengthening links between Egypt’s innovation ecosystem and its US counterpart helps startups move from the idea stage to international expansion by connecting them with investors, specialized incubators, and technical advisory networks, ultimately supporting sustainable growth and global competitiveness.
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