Orange Group to finance 100 start-ups
Orange Egypt has announced the results of the Orange Ventures MEA Seed Challenge for 2020. This challenge is backed by Orange Group, with investments worth €670,000 to support the best 7 start-ups. The Orange Ventures MEA Seed Challenge is open to start-ups in 7 countries; Cameroon, Côte d'Ivoire, Egypt, Jordan, Morocco, Senegal, and Tunisia. Orange Group also announced to finance 100 start-ups from now until 2025.
More than 500 business projects were submitted to the competition at the level of the 7 countries. The projects were submitted and vigorously examined by Orange Ventures Team and local teams in each country.
In Egypt, the winning Egyptian team was announced with its project “7keema”. The team has developed an advanced digital mobile application for integrated healthcare, providing on-demand home-based nursing services to variable range of patients that includes care services for patients after discharge from surgery, care services for patients with chronic diseases, elderly care and many other services. “7Keema” has been nominated as the best startup in Egypt and one of the top ten startups in Africa and the Middle East.
“7Keema” held multiple partnerships with international companies, in addition to collaborations with major hospitals. Additionally, “7Keema” has subsidiaries in Nigeria and Tunisia and plans to expand in 10 other countries over the next four years.
The competition depends on technology at its core, especially in light of the current circumstances, as entrepreneurs struggle to find the necessary financing due to the current limited number of investors because of COVID-19 outbreak in the world.
This challenge targets high-growth potential emerging enterprises that depend at the core of their business on the latest and revolutionary technology means, including developing solutions in the fields of networks, information technology, electronic security, digital financial services and corporate solutions.
Commenting on this occasion, Hala Abdel Wadood, Head of Public Relations & Corporate Social Responsibility at Orange Egypt, said “At Orange Group and Orange Egypt, we persist our support for talented entrepreneurs and emerging businesses owners, who have innovative ideas and are facing difficulty in obtaining the necessary support to implement and start their projects in light of the repercussions of COVID-19 outbreak.”
“This is the right time to extend our support to youth by harnessing all our capabilities in order to provide them with a more stable environment and give them the opportunity to compete in the Egyptian market. This step will also have a positive impact in reducing unemployment rates, providing job opportunities, and thus increasing the country’s national income.” Abdel Wadood added.