A group of young Egyptian entrepreneurs has embarked on a two-week study tour in South Korea. Their goal is to gain insights from the country’s advanced tech ecosystem and explore potential investments. The group was selected by the African Development Bank Group (AfDB) through its Innovation and Entrepreneurship Lab.
The tour is part of the Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support program. These entrepreneurs were chosen after pitching their business models at the Africa Tech Startup Forum, where they stood out among 133 African ventures.
Exploring South Korea’s Technological Landscape
Representing Egypt’s growing tech scene, the entrepreneurs are gaining exposure to South Korea’s innovation hubs. They are visiting institutions like the Global Startup Centre and LG Science Park, as well as successful unicorn companies. These visits will help them learn about scaling businesses and securing investment.
Amira Abdel Aziz, founder of a health tech startup in Cairo, said, “South Korea is a global leader in tech innovation. This tour will help us bring back lessons to grow Egypt’s tech industry.”
In addition to site visits, the entrepreneurs will participate in key events like K Startup Grand Challenge and COMEUP Korea. These platforms will allow the delegation to network, pitch their ventures, and connect with investors.
Strengthening Egypt’s Entrepreneurial Ecosystem
This trip is a crucial step in developing Egypt’s entrepreneurial ecosystem. Over the past few years, Egypt has made significant strides, particularly in technology. Programs like the Africa Tech Startup Forum are vital for fostering international partnerships and knowledge exchange.
Hassan Mahmoud, co-founder of an agritech startup in Cairo, commented, “We’re looking forward to learning from South Korea’s experience. The local market is full of opportunities, but we need more support and innovation to scale.”
The program is funded by the Korea-Africa Economic Cooperation Trust Fund. It aligns with Egypt’s broader goals to boost youth entrepreneurship and create jobs. According to Martha Phiri, the AfDB’s Director of Human Capital, Youth, and Skills Development, these initiatives will have a lasting impact. “By enhancing skills and fostering innovation, we help young entrepreneurs expand their ventures and contribute to job creation,” she said.
Shaping Egypt’s Tech Future
Egypt’s involvement in the South Korea study tour reflects the country’s ambition to become a major player in the global tech landscape. With a young, dynamic population, Egypt is positioning itself as a hub for innovation and entrepreneurship in Africa.
As these entrepreneurs return with new knowledge and connections, they will be better equipped to scale their ventures. The program also sets the stage for Egypt to play a more significant role in the global tech ecosystem. Through collaborations like these, Egypt is taking bold steps to strengthen its position in the world of innovation and technology.
