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Friday, July 19, 2024

Endeavor Egypt launches XceleRise to back local entrepreneurs


Endeavor Egypt and GIZ Egypt, on behalf of the German Government, are introducing a one-of-a-kind Scale-up program to aid access to capital and market expansion for all startups that promote sustainability. 

This 15-month program is specifically designed to equip ambitious entrepreneurs with the industry knowledge, market insights, and invaluable connections necessary to successfully scale their operations internationally and raise capital. 

The Endeavor Egypt Scale-up Program, XceleRise provides a unique opportunity for entrepreneurs to tap into Endeavor’s global network of mentors, investors, and top industry professionals. By leveraging the expertise and guidance of these key experts, participants will gain the necessary tools and strategies to navigate the complexities of international expansion and maximise their growth potential. 

Key features of the program include: 

1. Fundraising Strategies and Introductions: Participants will learn best practices for effective fundraising and gain access to potential investors through strategic introductions facilitated by the program. 

2. Market Expansion Guidelines and Visit: Entrepreneurs will receive comprehensive guidelines on market expansion, enabling them to make informed decisions and optimize their entry into new markets. Additionally, selected participants will have the opportunity to embark on a country visit to explore market opportunities firsthand. 

3. Networking and Stakeholder Engagement: The program fosters networking opportunities, allowing entrepreneurs to connect with key stakeholders, industry leaders, and like-minded peers who share a passion for innovation and growth. 

Highlighted sectors for the program include: 

● Green Buildings 

● Waste Management 

● Renewable Energy 

● Sustainable Transport 

● Agriculture and Water Management 

XceleRise also places a strong emphasis on supporting companies that drive the 

emergence of competitive enterprises and job creation, particularly in ecologically 

relevant sectors. These sectors include fintech, ed-tech, and health-tech, as well as 

companies in logistics and smart-city sectors that promote fair supply chains and sustainable transformation of global supply chains.

To be eligible for the program, startups should meet the following criteria: 

● Generate a minimum of $250,000 (EGP 8M-10M) in revenues annually. 

● Have a minimum of 10+ employees. 

● Be actively seeking international expansion opportunities within the MEA region. ● Be looking to raise capital. 

● Operate within the green and green-tech sectors. 

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