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Falak Startups Hosts Inaugural Demo Day from Thirteen Egyptian Governorates

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Falak Startups, in partnership with EFG-EV Fintech, announced its official launch to the regional entrepreneurial and investor community through an inaugural Demo Day sponsored by the SANAD Fund for MSME. Fifteen high-growth startups from thirteen governorates presented their refined business models, in an effort to secure funding from Egyptian and regional investors.

Falak (largest startup accelerator in the Middle East and Africa) organized  4-month acceleration program provides entrepreneurs with funding, mentorship, training, and comprehensive all-round support, in order for Egyptian youth  to thrive and compete in the global economy.

“Entrepreneurial success, especially within our young demographic, creates positive spillover effects throughout the entire economy, supports our goal to achieve wider financial inclusion and boosts job creation on the macroeconomic level. It is an essential component in creating a sustainable engine for long-term economic growth.” Said Dr. Sahar Nasr, Minister of
Investment and International Cooperation.

Dr. Shehab Marzban, Chairman of Egypt Ventures and Senior Advisor to the Minister of Investment and International Cooperation also added: “We’re very proud to see our youth develop strong business cases out of mere ideas they came to us with only months ago. Falak Startups will serve as a platform from which we aim to launch numerous acceleration programs, spanning across multiple sector industries. The feedback received today was tremendously positive, and is a strong reflection of the private sector’s support of our mission, as they are key partners in this journey to establish a dynamic, globally-competitive ecosystem”

The event took place at the Golden Room Hall in Prince Mohamed Ali (Manial) Palace, and was attended by y Dr Sahar Nasr, Minister of Investment and international Cooperation, Dr Ali ELMoselhy, Minister of Supply, Dr Rania Al Mashat, Minister of Tourism, Khaled Badawi, Minister of Public Enterprise, Dr Shehab Marzban, Senior Advisor to the Minister of Investment and International cooperation and Chairman of Egypt Ventures, Mohamed Fareed, Executive Chairman at the Egyptian Stock Exchange, General Mohamed Amin, Treasurer of the ‘Tahya Masr’ Fund, MP Amr Ghalab, Chairman of the Economic Committee of the House of Representatives, as well as numerous foreign dignitaries, prominent businessmen and investors, and entrepreneurs.

Some of the startups that participated in the event were Pay Nas, Auto Parts, Masry Market, 3elagi and Olli.

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Investments exceeding EGP 4 billion along 4 years:

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Investments exceeding EGP 4 billion along 4 years:
Living Yards Developments Egypt Partners with EFS Misr
to manage its facilities in the New Administrative Capital

– Marzouk: “Living Yards designated EFS Misr to manage and maintain 1,230 residential & administrative units within its projects; the total investment of such projects exceeds EGP 4 billion.”
– Mansour: “We are proud to have been chosen by Living Yards, and we promise to deliver world-class services; capitalizing on our 90+ projects experience in Egypt & the Middle East.”

Living Yards Developments Egypt has recently celebrated the signing of a memorandum of understanding with EFS Misr Facilities Service, at Living Yards’ headquarters in New Cairo, and in the presence of both corporate teams. This up-and-coming partnership culminates Living Yards’ latest remarkable successes in its New Capital real estate projects; being the first real estate developer to invest in this great national venture.

In this regard, Mr. Ayman Marzouk, Chairman and CEO of Living Yards gave a statement: “Out of keenness to provide our customers with top-class comfort, luxury & safety, and next to our deep-seated belief in specialization, Living Yards has assigned a facility service company to manage about 1,230 residential & administrative units in three of our major projects so far. The total investments in living yards projects exceeded EGP 4 billion. We have selected EFS Misr in particular on grounds of their reputable expertise in various projects over nearly two decades.”

On behalf of EFS Misr, Mr. Rami Mansour, Chairman & CEO made a comment: “We are proud collaborate with Living Yards, and cherish their confidence in our capabilities. We are also grateful for the opportunity to partake in such a mega urban development national project. We promise to deliver world-class services; capitalizing on our 90+ projects experience in Egypt & the Middle East. Our portfolio comprises of managing facilities in Master Communities, Healthcare, Oil and Gas, Banking, Industrial, Public Sector, Integrated workplaces, Education, Retail and Mixed -use properties. We look forward to further Collaboration with Living Yards in the future.”

About Living Yards Development:
Living Yards Developments is owned by two mega economic establishments; AM Group and Egyptian Swiss Group. With more than 30 years of expertise in the fields of manufacturing & trading, 3000 employees and annual turnover of more than 4 billion EGP, the two groups guarantee a very strong financial and technical support to the company. Living Yards Developments is entering the market with a new inspiring vision. Introducing a unique concept to the real estate market. ‘Practical Luxury’ is the mix of value for money with lavishness and diversity with luxury. A new trend setter in the market where compromises don’t exist. Living Yards is a grand addition to the world of real estate that subscribes to the mantra of thinking the unthinkable, with the sole purpose of satisfying the unmet needs of our customers, through applying a novel methodology in delivering all of its projects.
For further info, please visit: https://www.livingyardsegypt.com/

About EFS Misr:
Back in 2015, EFS Group in Dubai made a strategic decision to enter the Facility management local market in Egypt with the creation of an independent subsidiary, named EFS Misr. EFS Misr endeavors to deliver quality facility management and value-added in managing facilities in Master Communities, Healthcare, Oil and Gas, Banking, Industrial, Public Sector, Integrated workplaces, Education, Retail and Mixed -use properties.

For further info, please visit: http://www.efsmi.com/

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Egypt Jumps Ten Places in ‘Global Knowledge Index’ in Only One Year

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Egypt has jumped 10 places in just a year in the 2020 Global Knowledge Index (GKI), according to three infographics released by the Egyptian Cabinet’s Information and Decision Support Center.

The index, which gets issued every year by the United Nations Development Programme and the Mohammed bin Rashid Al Maktoum Knowledge Foundation, shows that Egypt has moved from the 82nd place to the 72nd in only one year.

The rankings are based on a survey done on the knowledge performance of 138 countries in 7 areas and 199 indicators. Egypt has shown great advancement in all areas, it moves 23 ranks up in the area of Technical and Vocational Education and Training and 11 ranks up in Pre-University Education.

The index also highlighted Egypt’s points of strength in education sector, which included higher enrollment in universities and a significant decline in out-of-school children. There’s also an increase in the number of students enrolling in vocational and technical schools.

Switzerland, the United States, and Finland came on top of the 2020 index.

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Egypt Set to Build Its First Train Factory in Port Said

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Egypt’s Ministry of Planning and Economic Development has announced that Egypt is planning on building its very first train factory in Port Said.

The factory will build EMUs, DMUs and monorail trains in East Port Said industrial zone.

The Ministry made the announcement on the 16th of September in a meeting attended between the minister of planning and economic development, Dr Hala El-Said, transport minister Major General Kamel El-Wazir and chairman of the Suez Canal Economic Zone Authority, Mr Yahia Zaki.

The meeting went over the project’s implementation plan and the possible outputs of the factory.

Egyptian Railways Services and Maintenance Company (Ermas) will most probably run the new plant in cooperation with the private sector including a number of international companies, such as the Suez Canal Economic Zone, and Egypt’s Sovereign Fund.

According to El-Waziri, the factory is seen as part of a localizing initiative that aims at producing railway equipment locally, in order to meet the rising demand both domestically and in Africa and on the Arabian peninsula.

The factory will help boost the Egyptian economy, in addition to generating hard currency and providing job opportunities.

 

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