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Wednesday, May 8, 2024

US-based VC firm PTS Holdings and Borg El Arab Technological University launch studio to back Egyptian entrepreneurs

US-based VC firm, PTS Investments Holdings Inc ↗. has partnered with Egypt’s Borg El Arab Technological University ↗to launch a comprehensive digital platform that offers a range of services for tech students and graduates to help them become entrepreneurs with a six-figure investment.

 The partnership entails the launch of the inaugural startup company through the specialised entrepreneurship studio “Kemtech Valley-BTU.” This initiative aims to support and promote research outcomes and graduation projects while leveraging the expertise of the university’s faculty and students. Ultimately, the goal is to transform these valuable resources into investment ventures, practical solutions, and industrial products that can be effectively marketed.

According to Eng. Maha Mandour, group managing director for PTS Holdings, this partnership is a significant milestone in strengthening Egypt’s educational and employment infrastructure. It reflects the positive impact of educational institutions and investment firms in the development of society and in nurturing the exceptional talents of Egyptian youth in the fields of training and employment. This is accomplished through the provision of free scholarships to valedictorians from technology universities for participation in the entrepreneurship fellowship programme.

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This partnership falls under the umbrella of the Supreme Council for Technological Education of the Ministry of Higher Education and Scientific Research, as part of the Egyptian Applied Technology Valley, or “Kemtech Valley.” PTS Investments Holdings Inc. has established a partnership with Venture Kemtix and COREangels MEA to introduce a digital platform. The endeavour has received significant funding of six figures, emphasising its crucial contribution to entrepreneurship, startups, and its dedication to promoting innovation and supporting young entrepreneurs in Egypt. 

 The platform’s main focus is to establish a framework that facilitates collaboration between governmental educational institutions and the private sector in the field of applied technology education, which can be achieved through a centralised digital gateway.

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This gateway acts as a connection point, linking students and graduates from technology education institutions to various local and global job markets. It provides detailed information about available job opportunities worldwide, as well as specific skills and requirements for each role. As a result, graduates can take advantage of training and qualification programmes that equip them with the necessary skills for the job market.

The students will be trained and mentored by industry and entrepreneurship experts, with the assistance of university professors, to develop initial models for innovative project ideas. By the end of the first phase, students will present their ideas to a specialised committee of experts and industry professionals. Some projects will be selected for sponsorship and support from the specialised entrepreneurship studio “Kemtech Valley.

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To date,the initiative has awarded scholarships to over 1,000 students from different technology universities over a span of three years and has incubated five innovative projects through the entrepreneurship studios with the aim of transforming them into start-ups with the sponsorship of the private sector.

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Michael Maren
Michael Maren
Former marine biologist who likes to spend as much time in the tropics as possible, due to a horrible time I once had in Alaska. Brrrr.

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