Egyptian startups had a strong show at The Web Summit held in Lisbon, Portugal with a dedicated exhibition pavilion hosting several of the country’s top fast-rising companies. The Web Summit has returned to Lisbon after the global pandemic forced it to go online. Event organizers expect over 40,000 visitors to attend the Lisbon Exhibition Center from the 1st to the 4th of November. This is less than the 70,000 in attendance in 2019. Last year’s networking gala took place online and this year it returns to its real-world in-person form.
The Egyptian Ministry of Communications and Information Technology is represented by ITIDA which sponsors and supports Egypt’s participation in cooperation with the Digital Economy Technology General Division of Egypt’s Chamber of Commerce.
Egypt companies are exhibiting under the pavilion are five in the growth stage and 13 others in either alpha or beta stages. The startups participating are Trella, Pylon a utility management platform, Koinz an F&B solutions platform, Money Fellow an affordable saving and credit platform, GoodsMart a grocery delivery platform, Pravica a blockchain digital communication suite, zVendo a subscription e-commerce platform, DentaCarts a medical supplies marketplace, CardoO, Rology for medical technology a Medtech, Chefaa a pharmatech, Amjaad Technology an IoT utility solutions provider, SURVV a delivery fleet aggregator, Adzily, Interact Labs, CreditGO, Amanleek, and iSchoola.
Egypt’s participation at the global tech event will reinforce the country’s stellar position on the global map of innovation and entrepreneurship. The country’s participation showcases innovative solutions by the local tech startups while highlighting incentives and benefits Egypt offers in this field. ITIDA looks to attract more investments in the thriving local tech innovation ecosystem, expand the base for more venture capital funds, attract major investors to the country, and bring specilaied platforms that support entrepreneurs in the country.
In 2021, startups in Egypt recorded their highest in venture investments at $403M – a 100% year-on-year growth. The 2021 Global Startup Ecosystem Report (GSER) ranked Cairo as the top in the MENA region when looking at the affordability of talent – setting it among the top 15 globally. Egypt’s capital also ranks in the top 3 in terms of funding across MENA.
The Web Summit is the largest tech conference in the world bringing together startups ad high-level speakers from across the tech community.