Egypt’s Information Technology Industry Development Agency (ITIDA) and venture capital firm Flat6Labs have joined forces to launch the InvestIT program, aimed at advancing the growth of Egyptian tech startups. Targeting companies at the seed and pre-Series A stages, InvestIT will provide access to consulting, strategic tools, and investor networks to strengthen these startups’ operational capacities and global competitiveness.
The program, led by ITIDA’s Technology Innovation and Entrepreneurship Center (TIEC), will foster innovation across Egypt’s governorates, driving growth within the digital economy. Through a two-phase approach, InvestIT will first focus on investment readiness with specialized training and workshops, followed by introductions to both local and international investors.
Egypt’s commitment to developing a robust startup ecosystem aligns with broader efforts to transform the country into a leading tech hub in the Middle East and Africa. “We are dedicated to nurturing a thriving tech startup environment by supporting entrepreneurs, establishing Digital Egypt innovation hubs, and enhancing digital infrastructure,” noted Dr. Amr Talaat, Egypt’s Minister of Communications and Information Technology.
Flat6Labs emphasized that InvestIT aims to equip startups with more than just investment preparation; it seeks to empower them with the resources and partnerships essential for impactful growth. According to Flat6Labs, this collaboration with ITIDA and TIEC reflects a commitment to fostering a vibrant tech ecosystem in Egypt.
Scheduled to run over six to eight months, InvestIT will support 12 startups by offering tailored consulting services, data room setup assistance, and guidance in investor engagement. To qualify, startups must have been in operation for at least two years and demonstrate a scalable product or service.
