By: Abdallah Beder
Cairo – Mubasher: Total investments in Egypt-based startups amounted to $600 million during 2022, compared to $500 million in 2021, said Hossam Osman, Vice President of the Information Technology Industry Development Agency (ITIDA).
This came despite the global decline in startup investments due to the economic conditions the world undergoes.
The statement was made by Osman, who also heads the Technology Innovation & Entrepreneurship Center (TIEC), on the sidelines of Huawei Technologies’ announcement of the Huawei Cloud Startup 2022 winners.
The announcement was made in collaboration with TIEC, MENA region's leading seed and early-stage venture capital firm Flat6Labs, and Egyptian start-up accelerator Falak Startups.
The Huawei Cloud Startup aims to promote the comprehensive entrepreneurial system in Egypt, in a way that increases promising growth opportunities for startups.
