ITIDA and 500 Global Showcase Three-Year Strategic Partnership to Boost Entrepreneurship and Startup Growth in Egypt
Egypt’s Information Technology Industry Development Agency (ITIDA) has unveiled the outcomes of three years of strategic partnership with 500 Global, underscoring its commitment to strengthening Egypt’s technology innovation ecosystem and positioning the country as one of the most dynamic and advanced startup hubs in the Middle East and Africa.
Engineer Ahmed El Zaher, CEO of ITIDA, stated that the agency adopts a comprehensive vision for developing Egypt’s ICT sector, centered on supporting local companies, fostering the growth of multinational firms operating in the Egyptian market, increasing digital services and outsourcing exports, and empowering startups as a key driver of sustainable innovation and knowledge-based growth.
El Zaher added that supporting freelancers is a core pillar of this vision, particularly in light of the rapid global shifts in the digital labor market. He emphasized that Egypt’s abundance of digital skills represents one of its strongest competitive advantages compared to regional and international markets.
These remarks came during a panel discussion marking the third anniversary of the partnership, held with Bedy Yang, Managing Partner at 500 Global, and Amal Annan, 500 Global Partner in Egypt.
A Successful Public-Private Partnership Model
El Zaher highlighted that the success of the partnership stems from clear performance indicators, mutual trust, and the integration of both parties’ capabilities. This approach enabled the design of high-impact programs that facilitated technology transfer and the adoption of global best practices in the Egyptian market, presenting a strong model for public-private partnerships in supporting entrepreneurship.
He cited the “Bootcamp for Accelerator Managers” (BAM) as a prime example of this collaboration, noting that its real value lies in creating a multiplier effect across the startup ecosystem. By upskilling accelerator managers with global expertise, the program ensures higher-quality outcomes for current and future startups, including those not directly participating in ITIDA programs.
This approach has successfully transferred 500 Global’s international expertise to the majority of startup accelerators in Egypt, significantly expanding the program’s reach and impact.
The partnership aligns with ITIDA’s broader strategy to build an integrated and sustainable entrepreneurship ecosystem through collaboration with leading global accelerators, enabling Egyptian entrepreneurs to transform innovative ideas into scalable companies capable of regional and international expansion.
ITIDA is also keen to extend the impact of global expertise to local operators within Egypt Digital Creativity Centers (Creativa) across various governorates, ensuring that the benefits of entrepreneurship extend beyond Cairo and leverage the country’s widespread digital talent.
Tangible Impact and Startup Success Stories
During the event, ITIDA and 500 Global reviewed key indicators and measurable outcomes achieved over the three-year partnership. A total of 197 Egyptian startups benefited from comprehensive acceleration, mentorship, and market access programs through the Seed Bootcamp and Scale Up initiatives, engaging more than 380 founders and entrepreneurs.
These efforts resulted in startups securing over USD 54 million in funding, completing two successful exit deals, and obtaining grants and cash awards totaling USD 1.3 million. Additionally, more than 1,300 job opportunities were created based on data from around half of the participating startups. The partnership also saw investments exceeding USD 6 million from 500 Global into Egyptian startups.
The discussions highlighted the growth journeys of several Egyptian startups, including Rahet Bally, ILLA, Dayra, Amanleek, El Gameya, Blnk, Settle, and Bluworks. Other sessions showcased startups that successfully expanded regionally and internationally, such as Khazenly, Nowlun, and Enza, as well as exit and merger experiences with platforms including Orcas, Hatla2ee, and WRK+.
BAM Program: Building Accelerator Capacity and Driving Innovation
The event also spotlighted the impact of the Bootcamp for Accelerator Managers (BAM) program, implemented by 500 Global in cooperation with ITIDA. The program has played a significant role in enhancing the performance of startup accelerators and advancing the career paths of professionals in the sector.
Around 126 managers and professionals from more than 55 accelerators nationwide participated in the program. Follow-up results showed that 63% of graduates advanced their career paths, 56% improved their accelerator strategies, and 51% enhanced the quality of their acceleration programs. Notably, 40% achieved measurable improvements in key performance indicators, reflecting the program’s transition from training to tangible operational and economic outcomes.
Next Phase: Focus on Deep Tech and Artificial Intelligence
El Zaher stated that the upcoming phase will place greater emphasis on supporting deep-tech startups, particularly in artificial intelligence, alongside developing specialized programs to enhance startups’ readiness for investment and international expansion. He also expressed aspirations to expand 500 Global-led programs beyond Cairo, leveraging the nationwide network of Creativa centers to promote decentralization and tap into locally driven, scalable innovation.
500 Global: Investing in Egyptian Innovation
For her part, Bedy Yang said: “We work to empower entrepreneurs worldwide through a global innovation network and knowledge transfer. In Egypt, our partnership with the government has generated clear added value with tangible returns for all stakeholders.”
She added that while Egypt is rich in talent, this potential requires access to mentorship and education, with accelerator managers serving as the key enablers. Yang affirmed 500 Global’s confidence in the ability of Egyptian startups to deliver advanced technological solutions, including in artificial intelligence, noting that the firm has already invested in several Egyptian startups, including companies based in Mansoura. She praised the flexibility and openness of the Egyptian government, expressing pride that the partnership has met and exceeded its objectives and the expectations of its beneficiaries.