Cairo – Mubasher: EdVentures, the investment arm of Nahdet Misr Group, has partnered with the Mastercard Foundation to launch the Mastercard Foundation EdTech Fellowship in Egypt.
This five-year initiative aligns with Egypt's Vision 2030, focusing on digital innovation, inclusivity, and youth empowerment in the MENA EdTech sector, according to a press release.
The selection process for the inaugural 2024 cohort began in April 2024, drawing over 210 EdTech startup applicants.
After a rigorous evaluation, 12 startups were chosen for an eight-month programme featuring specialised training, mentorship, industry workshops, networking events, and courses.
Each startup will receive $60,000 in equity-free funding. Over the next three years, the fellowship will support 36 EdTech startups.
Dalia Ibrahim, Founder and CEO of EdVentures, said: "We are profoundly honoured to have been chosen by the Mastercard Foundation. This collaboration marks a pivotal moment for the EdTech industry, fostering innovation and empowering young entrepreneurs."
Joseph Nsengimana, Director of the Mastercard Foundation Centre for Innovative Teaching and Learning, added: "Through partnerships with tech hubs like EdVentures, we are increasing access to quality education for underserved learners in Egypt and Africa."
The 12 startups selected for the first cohort of the Mastercard EdTech Fellowship include Armstrong, an interactive STEM e-learning platform, and 5 Quarters, a learning application for dental students. Nafham by Tayro, an application for online individual or group learning, and Bayt Alkhyata, a platform for learning tailoring skills, also made the list.
Business بالعربي, an Arabic podcast for self-development and business skills, and Science Street, a platform promoting science literacy, are part of the cohort. Additionally, Mahart Tafl مهارة طفل, an application aiding parents and speech therapists in improving children's speech and language skills, is included.
iSchool, which teaches kids ages 6-17 coding and AI with accredited curriculums, and OTO Courses, offering online one-on-one English and other courses with private instructors, are among the selected startups. Fednee, a platform for professional networking, career development, mentoring, and collaboration, is also featured.
Career 180, providing capability-building solutions for youth career development and job placement, and Deaf Gain, a startup offering consulting services for individuals who are deaf and hard of hearing, round out the cohort.
In May 2024, Mastercard announced restructuring its regional operations, naming new division leaders as it aims to step up growth across MENA.
