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Out of those, at least 318 Egyptian startups have raised almost $800 million in funding since 2015.
Egypts fourth fast-rising sector is educational tech, with 42 startups making up 7.5% of the tech ecosystem.
The number of active investors in the country is also on the rise.
In September 2021, Plug and Play and ITIDAannounced the opening of an accelerator and incubatorto develop Egyptian startups.
The incubator will provide support to 60 early-stage startups each year, split into two cycles.
Whats behind the current investor interest in Egypts startup scene?
In a few years, Egypt transformed into a fast growing hub for startups across the MENA region.
This presents an important opportunity for isolation and market penetration.
This is one of the strengths of the Egyptian ecosystem.
According to Ramos, They built one of the most sophisticated NLP engines for Arabic languages.
The Egyptian government has become proactive when it comes to supporting the local tech startup market.
Story byMarris Adikwu
Marris Adikwu is a freelance writer with a passion for internet culture.
Her work has been published in Glamour Magazine, New York Magazine, Eater, and more.
In her free time, she writes short stories.
