Egyptian T-Vencubator Fund launches to support technology startups

The new company is merging the concepts of venture capital funds and business incubators to provide cutting-edge solutions for local startups. Venture capital is a form of financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential, the statement said.

T-Vencubator stated that it aims to offer financial support and essential resources to Egyptian startups and aspiring entrepreneurs.

Reem Safi, the CEO of T-Vencubator, emphasized the significant role that startups play in bolstering the economies of developing nations, indicating the surge of startups in Egypt in recent years.

"We believe that technology is capable of solving many of the problems facing Egyptian society. Therefore, the focus will be on companies that provide solutions to the challenges that affect society using technology and artificial intelligence (AI)," she added.