Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Economy

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Egypt sets up $50m venture capital fund for startups

FOR REPRESENTATIONAL PURPOSE ONLY
By TRENDS Desk
February 25, 2022 9:58 pm
  • The World Bank is supporting the operation of the program, aimed at tech-based startups
  • The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea

Egypt launched a $50 million venture capital fund to help finance new and existing startups.

The World Bank is supporting the operation of the program, which is aimed at tech-based startups to provide both technical and financial support to help them achieve their project goals. 

The fund was announced by Egypt’s Minister of Trade and Industry, Nevine Gamea — also executive director of the Micro, Small and Medium Enterprise Development Agency, also known as MSMEDA. 

After cooperating with one of the most important donors to the agency, the World Bank, MSMEDA is eager to review and develop the needs of startups.

It also aims to educate employees in financial institutions about the program and how it can support their ideas.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]