Tech

Egyptian VC Flat6Labs partners ITIDA to launch programme for tech startups

Published

1 day ago

November 12, 2024

Egyptian Venture Capital firm, Flat6Labs, has partnered with Egypt’s Information Technology Industry Development Agency (ITIDA) to launch an InvestIT programme which will offer tech startups in the country, particularly at the seed or pre-Series A stages, access to consultancy, tools, and investor connections to help them scale operations and enhance global competitiveness.

The programme, according to Egypt’s Minister of Communications and Information Technology, Dr Amr Talaat, will be run by the Technology Innovation and Entrepreneurship Center (TIEC), a subsidiary of ITIDA, and will support startups across various governorates, encouraging innovation and growth in Egypt’s digital economy.

“Through two phases, it will prepare startups for investment with tailored training sessions and workshops, followed by connecting them with local and international investors,” Talaat said in a statement.

“The Egyptian government remains steadfast in its dedication to cultivating a thriving tech startup ecosystem. We are rolling out diverse initiatives to equip entrepreneurs with essential skills, attract global incubators, and facilitate connections between startups and investors.

“By establishing Digital Egypt innovation hubs nationwide, we empower innovators to transform their ideas into successful ventures.

“Alongside this, we are streamlining processes and investing in advanced digital infrastructure, positioning Egypt among the top three countries in the Middle East and Africa for tech startup investments,” the Minister said.

Flat6Labs founder and chairman Hany El Sonbaty, who also spoke on the initiative, said the launch of the InvestIT programme has further expanded his company’s support for Egyptian entrepreneurs.

“This programme is not just about preparing startups for investment; it’s about equipping them with the tools and connections to scale their impact.

“Through our collaboration with ITIDA and TIEC, we’re committed to building a strong, vibrant ecosystem where startups can make a real impact on the tech landscape in Egypt,” he said.

The programme, he said, will support 12 startups over six-to-eight months with each startup receiving tailored consultancy services to enhance their investment readiness and assist with setting up data rooms and preparing for investor engagements.

Related Topics:Egypt Featured Flat6Labs Tech Venture Capital

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Tech

Telegram faces shutdown in Kenya

Published

3 days ago

November 11, 2024

Isaac Dachen

Telegram, a cloud-based messaging app that allows users to send messages, share files, and make voice and video calls, is facing shutdown in Kenya after the Communications Authority (CA), asked telecom companies to block it temporarily, hoping to curb exam cheating.

The crackdown, according to the CA, is aimed at stopping students from sharing exam answers. This had earlier led to restrictions on Telegram across major networks.

In a circular addressed to the heads of Safaricom, Telkom Kenya, Jamii Telecom, and Airtel Kenya, the CA explained that while other social media platforms were working with authorities to prevent misuse, Telegram had been less cooperative.

The CA, therefore, moved for a temporary suspension of Telegram during exam hours from 7:00–10:00 am and 1:00–4:00 pm on weekdays until November 22

Netblocks, an Internet monitoring group, confirmed disruptions on Safaricom, saying the blocks were consistent with past Telegram restrictions following a similar ban in November 2023, which led to massive losses, reported to be around KSh 4.2 billion, while businesses faced connectivity setbacks.

Last year, Netblocks estimated that Kenya lost around KSh 537 million daily due to a similar ban.

In that incident, six Telegram group administrators were detained for alleged exam malpractice and since then, Telegram’s stance has softened a bit, with the platform updating its privacy policies in September 2024 to allow sharing IP addresses and phone numbers with law enforcement for criminal investigations. This update followed the arrest of Telegram’s founder, Pavel Durov, in France.

Tech

African startups invited to pitch at this month’s Africa Tech Festival in Cape Town

Published

3 days ago

November 10, 2024

Isaac Dachen

African tech startups have been invited to make their pitches at the Africa Tech Festival which will take place in Cape Town, South Africa, from November 12 to 14.

The invitation will afford selected startups the opportunity to pitch their business, connect with funders, and meet potential customers, according to James Williams, the Event Director of Africa Tech Festival.

In a statement announcing the offering, Williams said the Africa Tech Festival, including anchor events AfricaCom, AfricaTech, AfricaIgnite, and AI Summit Cape Town, is the largest tech and digital connectivity conference and exhibition in Africa, attracting hundreds of exhibitors, more than 450 speakers and more than 15,000 delegates.

“This year’s edition, the 27th, takes place on November 12-14 at the Cape Town International Convention Centre (CTICC), with AfricaIgnite the flagship event for founders, investors, and key players in the tech ecosystem, supporting market access and investment opportunities for the continent’s startups,” he stated

“Africa Tech Festival is all about providing a platform for stakeholders from across all spheres of Africa’s technology arena to connect, collaborate, and drive innovation.

“It is wonderful to see how AfricaIgnite has grown since first being included in the Africa Tech Festival line-up. This year sees the highest attendance by founders and venture capitalists to date, reflecting the effectiveness of the platform in growing Africa’s startup ecosystem.

“Delegates can look forward to a stellar range of speakers, and sponsorship by established brands like Collective 54 and SAP for Scaleups,” said Williams.

He added that a pre-event “Founder and Investor Day” will enable founders to learn from and network with experienced entrepreneurs, while the “Matchmaking Programme” offers a chance to connect with potential venture capitalists.

“Opportunities to exhibit in the event’s startup marketplace will allow founders to increase brand visibility and connect with potential customers.

“Presented in partnership with the Startup World Cup and powered by Pegasus Tech Ventures, the AfricaIgnite Pitch Competition presents an opportunity for innovators to showcase their ideas to potential investors and partners in a live pitch.

“The winner will advance to next year’s Startup World Cup Grand Finale in the United States, where they will compete for a $1 million investment prize alongside the best startups from around the globe.”