Investment volume in startups in Egypt slightly declined to $450M this year – Egypt Today

Investment volume in startups in Egypt slightly declined to $450M this year – Egypt Today

CAIRO - 26 September 2022: Advisor to the Minister of Communications for Technological Innovation, Dr. Hossam Othman, confirmed that the volume of investment in the field of startup companies slightly decreased in Egypt to 450 million dollars, affected by the economic conditions witnessed worldwide. Dr. Hossam Othman indicated in an interview with the program From Egypt with Amr Khalil on CBC, that "Startups rely on financing from money and risk funds, and they are not traditional companies, but they rely on technology." He added that startups have great creativity; they aim to achieve great value, and they are based on foundations and a business model.