EdVentures, the investment arm of Nahdet Misr Group and a leading EdTech venture capital firm in the MENA region, has announced a five-year partnership with the Mastercard Foundation to launch the Mastercard Foundation EdTech Fellowship in Egypt. This initiative aims to transform the African EdTech sector through digital innovation, inclusivity and youth empowerment, promising significant impact on Egypt's educational, IT, and economic landscapes.
The 2024 program’s selection process involved scanning over 210 applicants for EdTech startups across multiple governorates in Egypt. Through a meticulous evaluation process, 12 startups were chosen for an 8-month program, comprising specialized training, mentorship, workshops, networking, and access to courses. Each startup will receive $60,000 in equity-free funding. Over the next three years, the fellowship will support a total of 36 EdTech startups, driving positive change in the education sector.
"We are honored to collaborate with Mastercard Foundation, a testament of our impact in Egypt's EdTech sector," stated Dalia Ibrahim, Founder and CEO of EdVentures. "This collaboration is pivotal for the EdTech industry, aligning with our mission to foster innovation and empower young entrepreneurs. Together, we will continue to shape a robust EdTech ecosystem in Egypt, redefining learning experiences. We eagerly anticipate the forthcoming cycles, each contributing to our shared vision of a brighter future for education."
“Through our partnership with EdVentures, we are enhancing access to quality learning for Egypt's and Africa’s underserved learners through local technological solutions. In 2023, our EdTech Fellowship cohorts in South Africa, Nigeria and Kenya reached 2.6 million learners. We expect an even greater impact this year,” said Joseph Nsengimana, Director for the Mastercard Foundation Centre for Innovative Teaching and Learning.