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Openner, a US-based VC firm launches accelerator targeting 50 promising startups in Egypt

Openner Egypt

Openner, based in Washington D.C, is accepting applications from Egyptian startups. In a press release statement, the company expressed its interest in the Egyptian market for its cultural position, geographical location, and budding technological innovators.

Openner aims to leverage its expertise and knowledge to help startups grow as they prepare for acquisition. The VC firm has already started receiving applications for funding requests. As they comb through the applications they will be on the lookout for founders with exceptional ideas and scalable technological innovations after passing through the acceleration process.

Openner mainly focusses on pre-financing and early-stage startups. Thus far, it has invested in over 100 startups in $25 million worth of investment in the United States. The valuation of those investments is now at $95.2 billion since late 2016.

The Accelerator programme

The programme is a combination of a cash infusion and resource allocation while relying on it’s proven model for all companies. A great deal of emphasis is invested in transforming the companies from early-stage to growth stage. This sets them in the right position for acquisition especially after their product gets fully refined.

Openner has co-invested occasionally with other firms; Sequoia, Khosla Ventures, NEA, and Horrowitz Andreesen. Firms such as Goldman Sachs, Y-Combinator, and several others have invested in their portfolio too.

The application window is open all year round. You can access here.


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