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VC Firm 500 Global Selects 15 Egyptian Startups for Scale-Up Program

New Investments

VC Firm 500 Global Selects 15 Egyptian Startups for Scale-Up Program

Fifteen Egyptian tech startups have been selected for the first batch of the 500 Global in Egypt Scale Up Programme, a seven-week program designed to help founders scale their businesses.

The program is run by 500 Global, one of the world’s most active venture capital firms, in partnership with the Egyptian Information Technology Industry Development Agency (ITIDA). It is dedicated to pre-Series A and Series A startups in Egypt.

The selected startups are:

  • Birdnest
  • Blnk
  • Convertedin
  • Dresscode
  • FriendlyCar
  • ILLA
  • Khazenly
  • MQR
  • Nowlun
  • NowPay
  • O7 Therapy
  • Orcas
  • Rology
  • Suplyd
  • Sylndr

“Despite a challenging global and local macroeconomic backdrop, we found Egyptian founders proving that Egypt remains a thriving technology market in the Middle East and Africa,” said Amal Enan, Partner at 500 Global.


The Scale-Up program kicked off on October 1 at the Creativa Giza Hub, also known as The Factory, operated by ITIDA. It will culminate with the Scale Up Showcase on November 16.

The program is designed to empower founders through personalized mentorship and growth techniques, setting the stage for their future success.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Andela Launches Talent Cloud to Transform Tech Hiring

Key Developments

Andela Launches Talent Cloud to Transform Tech Hiring

Andela, an Africa-focused talent outsourcing startup, has launched Andela Talent Cloud, an integrated end-to-end platform that connects skilled individuals with businesses, transforming the hiring process for tech companies and talents.
 

The all-in-one, AI-powered platform gives IT executives total transparency over talent profiles and skills assessment results, enabling them to make secure and informed hiring decisions.

Andela Talent Cloud provides clients with more speed, flexibility, performance, and trust than other hiring methods such as internal recruiting, consulting firms, and outsourcing.

“Andela offers a seamless approach. By combining the world’s preeminent private talent marketplace with an AI-driven platform, Andela helps companies scale their teams and deliver projects faster,” said Jeremy Johnson, Andela CEO and Co-Founder.

The platform, billed as the Talent Decision Engine (TDE), analyzes thousands of data points during the hiring process to evaluate several factors for each job position, including hard and soft skills, experience, title, location, work preferences, language proficiency, and client feedback.

Due to its hiring lifecycle optimization, businesses can locate, assess, hire, manage, and pay foreign technologists within the integrated platform.

In March 2023, the startup acquired Qualified, a technical skills assessment platform. Thus, Andela claims it has integrated developer assessment capabilities into TDE to more precisely determine the performance of the recommended talent on the job before selection.

Andela Pay manages every facet of foreign payouts, currency conversion, and compliance in more than 100 nations to ensure that talents receive funds effectively and economically.

In compliance with relevant regulations, the Andela Pay partner ecosystem also conducts Know-Your-Customer and Office of Foreign Assets Control (OFAC) reviews on contracted technologists to ensure compliance by all remote workers.

Andela Talent Cloud is a game-changer for the tech industry, providing companies with a faster, more efficient, and more reliable way to hire top talent.

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Hope Ditlhakanyane

Hope Ditlhakanyane

Hope Ditlhakanyane is a South African passionate about using entrepreneurship to solve Africa’s toughest challenges.

 

She is the Head of Venture Sourcing at Founders Factory Africa (FFA), a venture capital firm and technology accelerator that invests in early-stage startups across Africa. Prior to joining FFA, Hope was the Venture Sourcing Lead at MEST Africa, a non-profit organization that trains, funds, and launches tech startups in Africa. She has also worked as a consultant at McKinsey & Company, where she advised clients on a variety of strategic and operational issues.

Hope is a recipient of the Mail & Guardian’s Top 200 Young South Africans award and Yahoo Finance’s Top 100 Women of the Future award. 
She is a strong advocate for diversity and inclusion in the tech industry, a drive that saw her co-found We Fund Women. This organization supports and invests in African women entrepreneurs. Hope is also a role model for young women and entrepreneurs in Africa.

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James Manyika

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He is known for his groundbreaking research and insights on the impact of artificial intelligence, robotics automation, and other emerging technologies on the economy, workforce, and society. Manyika is currently the Senior Vice President of Technology and Society at Google, overseeing the company’s work and ensuring its technologies are developed and used responsibly. He is also a senior partner emeritus at McKinsey & Company and chairman and director emeritus of McKinsey Global Institute (MGI).

Manyika has a long and distinguished track record of public service, having previously served as vice chair of the Global Development Council at the White House and on several national and international task forces, including the National AI Advisory Committee and the California Future of Work Commission.
He is a frequent speaker and writer on technology and society, with his work featured in leading publications such as The New York Times, The Wall Street Journal, and The Economist.

Manyika is a passionate advocate for using technology to solve social and economic problems.
He believes that AI can potentially improve the lives of billions of people, but only if it is developed and used responsibly. He is working to ensure that AI is used to create a more inclusive and sustainable future for all.

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She is the co-founder and CEO of Rising Tide Africa, a women-led angel investing platform that supports early-stage technology startups in Africa. She is also the Chief Executive Officer of Heckerbella Limited, a Digital Transformation company. Yemi has over 22 years of experience in the IT industry, operating at the CEO and C-suite level across the public and private sectors. She has held senior leadership positions at SAP Africa, the Edo State Directorate of Information Communications & Technology Agency, and First City Monument Bank Limited.

Yemi is a passionate advocate for women in technology and entrepreneurship.
She is a mentor to several startups and serves on the boards of several organizations, including the Lagos Angel Network and the Enterprise Development Centre of the Pan-Atlantic University.

Yemi has won numerous awards for her work in technology, including the Centenary Award for the Most Outstanding Public Sector CIO in Nigeria in 2014.
She is a recognized thought leader on digital transformation and has spoken at several conferences and events around the world. Yemi’s achievements and contributions to Africa’s tech and investment space are truly remarkable. She is a role model for many young women in Africa and an inspiration to all who are working to build a better future for the continent.

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Hardy Pemhiwa

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Hardy Pemhiwa is a visionary leader in African technology and a passionate advocate for the use of technology to drive economic growth and social development in Africa.

 

He is the President and Chief Executive Officer of Cassava Technologies, a pan-African technology company that provides digital solutions across various industries, including telecommunications, financial services, and media. Before joining Cassava Technologies, Pemhiwa was the Group Chief Executive & Managing Director of Econet, one of Africa’s pioneers of the mobile telecoms industry.

He has also held senior management positions at a number of other companies, including a regulated financial services firm in Kenya and an investment banking firm in South Africa.
Pemhiwa’s insights and expertise in the African technology sector have garnered international recognition, as he is a regular speaker at industry events and conferences. In 2023, Hardy Pemhiwa’s influence reached new heights when he was named one of the “100 Most Influential Africans” by New African magazine. This accolade is a testament to his unwavering dedication to driving positive change across the continent.

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Placidius Castus Rwechungura

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Placidius Castus Rwechungura is a visionary tech entrepreneur making a significant impact on the agricultural sector in Tanzania.

 

He is the Founder and CEO of Agripoa Company Ltd, a Tanzanian-based startup that provides a mobile app and web platform to help farmers plan, monitor, and analyze their farm activities. Rwechungura’s passion for agriculture and technology is evident in his work at AgriPoa. He started the company in 2019 with the goal of using technology to make agriculture more efficient and profitable for farmers.

The AgriPoa app provides farmers with a variety of features, including a crop calendar that helps farmers plan their plantings and harvests and a pest and disease tracker that helps farmers identify and manage problems early on.
Rwechungura’s work with AgriPoa has been recognized by several awards, including the Best ICT Company of the Year (2021) in Digital Farming from the Prime Minister of Tanzania and the Minister of Science and Technology. Rwechungura is committed to using technology to improve the lives of farmers and believes that AgriPoa can help farmers increase their yields, reduce their costs, and access new markets.

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Lilian Makoi Rabi

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Linda Mabhena-Olagunju

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Linda Mabhena-Olagunju is a South African renewable energy entrepreneur and businesswoman.

 

She is the founder and CEO of DLO Energy Resources Group (Pty) Ltd. DLO Energy Resources Group is a wholly black female-owned renewable energy company that currently owns and operates one of the largest wind farms in Africa, with a capacity of 244MW. She has extensive capital-raising experience and has raised over 5.5 billion in debt and equity funding.

Mabhena-Olagunju is also an experienced board executive and advisor.
She has served on boards across various sectors, including energy, aviation, infrastructure, DFIs, and education. Her wealth of boardroom experience ranges from both local and international boards.

In addition to her work in the energy sector, Mabhena-Olagunju is also a passionate advocate for women in business and entrepreneurship.
She is a frequent speaker and mentor, and she is committed to helping other women succeed in their careers. Mabhena-Olagunju is a highly respected figure in the African business community and has been recognized for her achievements with numerous awards, including the Veuve Clicquot Elle Boss Award, the Forbes Woman Africa Best Emerging Entrepreneur Award, and the Choiseul 100 Africa Economic Leaders for Tomorrow list. Mabhena-Olagunju is an inspiration to many and a role model for women.

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Lewam Kefela

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Lewam Kefela is a Principal at Partech Africa, a leading venture capital firm investing in early-stage startups in Africa.

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Prior to joining Partech, Lewam was an Investment Director at Village Capital, where she led the investment team and invested in startups in the US, India, Latin America, and Africa.
She also co-founded The Africa Playbook, a series of newsletters and conversations focused on telling Africa’s growth story.

At Partech, Lewam has led investments in several successful African startups and is a board member of several portfolio companies.
She is also a member of the Black Venture Capital Collective, a group of Black venture capitalists working to increase diversity in the VC industry. Lewam is a role model for many African entrepreneurs and investors, a champion of innovation, and a firm believer in the potential of Africa’s tech ecosystem.

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