Information, Communication and Technology (ICT) is the fastest-growing sector in the Egyptian economy, growing at 16.3 percent during fiscal year 2021/2022, according to the Ministry of Planning and Economic Development. HSBC is committed to helping Egypt’s early-stage technology founders, accelerating their development of innovative and dynamic technology solutions integral to the new economy and the country’s rapid digital transformation.
Around 25 tech start-ups participated in the second cycle of the NP Accelerator, receiving technical support, guidance and mentoring to gear up for opening in new markets and securing the necessary funds to finance their expansions. The NP Accelerator also provides a unique valuation service to the participating start-ups and access to a booth stand at Egypt’s most dynamic events, such Techne and Riseup.
The eight graduates included Cubex Solutions, a provider of artificial intelligence, enterprise resource planning and business management systems; Diqqa.com, an e-commerce marketplace specialising in craft supplies and tools; and El Warsha, a car services app offering 24/7 breakdown assistance, maintenance and more.
MEDEX, a provider of smart solutions for pharmacies; Miles People, a social platform for personal trainers and clients; and P Systems, a tech company focusing on digital transformation, IT consultancy, cybersecurity and application development were also among the graduates. The final two start-ups to graduate were GLE Egypt and Superbe.
Training programmes are tailored to ensure that entrepreneurs get the specialist support they need. This cycle included software development, programming, medical activities, handicrafts, innovation, delivery and other areas of operation for start-ups.