Plug and Play venture is a business that gathers entrepreneurs from around the world, and has decided that since not everyone can go to Silicon Valley to start the next big thing, that it’s going to go to them. Well, to those in Cairo, Egypt for now.
‘Plug and Play Egypt’ a Silicon Valley startup accelerator (now Egyptian too) that provides everything from incubation to mentor and funding to young entrepreneurs in Cairo and has already accepted 5 startups for incubation.
The accelerator provides three main services for regional startups: acceleration, mentorship, and most importantly funding.
Office space and the required infrastructure for rapid growth is part of it’s core value, PnP Egypt promises world class experience to regional startups drawing from it’s success in Silicon Valley, alongside $250 million fund Rising Tide.
The first startups rounded up for the launch are:
- Offerna.com: Egypt’s first E-commerce Group Buying daily deal website [find our coverage here].
- Bebasata.com: E-commerce website focused on retailing consumer electronics online
- Books.com.eg: E-commerce website focused on selling online books
- DNA: Egypt-based digital-advertising agency
- EME International: Is a developer of mobile-based middleware providing solutions to major problems in the education, payment, and enterprise verticals. Well known for mParent, a mobile app to help parents oversee their children’s academic progress.
- Wireless Stars: A developer of cloud-based and location-based mobile software solutions services for various mobile platforms
With an obvious preference of mobile software development along with e-commerce, opportunities in the region seem to be diversifying by the minute with funds flowing steadily into e-commerce & mobile, as well as online social gaming.
Rising Tide Fund, is the investment arm of Global Technology and Innovation Partners (GTIP), plans on investing in Jordan, Lebanon, Malaysia and Turkey also. Which will mean more local branches of Plug and Play throughout the region in attempt to drive economic growth by investing in regional SMEs.