Egypt’s EYouth Scores $180k Seed Fund from EdVentures
The entrepreneurship and employability training startup has already helped launch 1500 social enterprises across Egypt, with 65,000 young entrepreneurs having gone through their programmes.
Empowering and educating entrepreneurs-to-be since 2010, EYouth has announced a $180k seed round from EdVentures, the venture capital arm of Egypt’s Nahdet Misr Publishing House. Founded in 2010 by Alaa Obeida and Mostafa Abdellatif, EYouth designs and implements youth training programmes in entrepreneurship, employability, personal skills enhancement, and community development, with a special focus on Egypt’s rural governorates.
EYouth also provides young entrepreneurs with mentoring, advising and consulting services they need to start and grow their own businesses, and ultimately connect them to investors. In fact, the startup has trained more than 65,000 entrepreneurs in 27 cities across Egypt, and helped launch 1500 social enterprises.
“In light of the fierce competition in the labour market, therein lies a great demand for investing in training and developing skills and capabilities of young entrepreneurs located in various governorates and even extending this to other Arab and African countries,” says Alaa Obeida, the co-founder and Innovation Director of EYouth.
“We are very glad that a pioneering company in the field of education, such as Nahdet Misr, has placed its trust in our EYouth platform. Their investment and support will definitely solidify our position and enable us to further develop and expand,” continues Mostafa Abdellatif, the co-founder and Managing Director of EYouth.
“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,“ adds Dalia Ibrahim, the founder of EdVentures and CEO of Nahdet Misr Publishing House.
