EdVentures, a leading education technology venture capital firm in the Middle East and North Africa (MENA) region, and the Mastercard Foundation have announced a five-year partnership to support Egypt’s edtech sector. The collaboration will see the launch of the Mastercard Education Technology Fellowship Program, which aims to nurture and empower Egyptian edtech startups.
The program kicked off in April 2024 with a selection process that saw EdVentures and Mastercard Foundation representatives interviewing over 210 applicants from across various governorates in Egypt. Following a rigorous evaluation, 12 startups were chosen to participate in an intensive 8-month fellowship program.
The program offers participating startups a comprehensive package of support, including:
- Specialized training workshops
- Mentorship opportunities
- Networking events
- Access to training courses
Additionally, each startup will receive up to $60,000 in grant funding to fuel their growth and development endeavors. This investment totals $720,000 for the first year, with plans to support 36 startups over the next three years.
Dalia Ibrahim, Founder and Chairman of EdVentures, expressed her enthusiasm about the partnership. “Our collaboration with the Mastercard Foundation signifies our commitment to creating a positive impact on Egypt’s edtech landscape,” she said. “This initiative strengthens the educational technology ecosystem, fostering innovative learning experiences and empowering young entrepreneurs to leverage technology for the betterment of education.”
Joseph Nsengyimana, Director of the Mastercard Foundation Center for Innovative Teaching and Learning, echoed Ibrahim’s sentiments. “Through partnerships with tech hubs like EdVentures, we strive to continuously improve access to high-quality learning experiences for underserved communities in Egypt and Africa,” he remarked. “We aim to empower learners through locally-developed technological solutions.”
The Mastercard Foundation’s edtech fellowship programs across South Africa, Nigeria, and Kenya have already reached 2.6 million learners in 2023. The organization anticipates an even greater impact in the coming years through its partnership with EdVentures in Egypt.