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Start-up Exits Bring Multi-Million Dollar Investments to Egypt

November 15, 2015
Panel discussion on the state of entrepreneurship in the MENA-region at RiseUp 2014

Egyptian entrepreneurs are set to play a pivotal role in creating a new source of foreign direct investments (FDI) for the country, according to the organizers of RiseUp – the platform that connects entrepreneurs and investors in the MENA region. Recent news reports cited that the net FDI in Egypt during the time period between December 2014 and July 2015 alone amounted to around $US 2.7 billion (approximately EGP 21 billion). “These investments are being brought in mainly by the government’s mega projects such as the New Capital city, the New Suez Canal corridor and others,” said Abdelhameed Sharara, CEO of RiseUp. “We’re witnessing a new rise of ‘mega’ projects among Egyptian youth, and that is the start-up generation. This has the potential to be an incredible source of FDI, if entrepreneurs become more aware of, and educated on developing solid exit strategies, and if they have access to the resources that allow them to achieve this.” The first exit that took place in Egypt was Intel’s acquisition of 4G wireless technology firm SysDSoft in 2011. In 2013, Fawry raised $US 6 million (app. EGP 47 million) from the International…

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