Egypt’s EYouth Raises USD180K in SEED Funding from EdVentures
by Magnitt 2020-05-21
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source: Magnitt

EYouth, a social enterprise based in Cairo that empowers youth through a wide range of services, has raised USD 180K in a round investment as SEED fund from EdVentures, the venture capital arm of Egypt’s Nahdet Misr Publishing House.

Founded in 2010 by Alaa Obeida and Mostafa Abdellatif, EYouth aims at empowering youth, especially in Egypt’s different governorates, through providing them with diversified training programs in entrepreneurship, employability and personal skills enhancement, and community development. They also provide young entrepreneurs with mentoring, advising, and consulting services they need to start and grow their own businesses, and ultimately connect them to investors.

EYouth have trained more than 65,000 entrepreneurs in 27 cities across Egypt and helped launch more than 1500 social enterprises and initiatives.

The company will use the allocated investment to develop an online platform to grow their entrepreneurial services in Egypt and expand to other African countries.

“EdVentures focuses on empowering youth through education, and promoting innovation and entrepreneurship; thus, we see our investment in EYouth as key in extending our support to a wider base of young entrepreneurs especially those located in upper Egypt with very limited resources.“ said Dalia Ibrahim, the founder of EdVentures and CEO of Nahdet Misr Publishing House.

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