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ITIDA, USAID, and AmCham look to strengthen the thriving startup and enterpreneurship ecosystem in Egypt

The Information Technology Industry Development Agency has taken part in a symposium organized by USAID, ITIDA, and AmCham which looks to empower Egypt's thriving startup and business environment by laying emphasis on the best practices and governance in venture capital. The symposium comprised ITIDA's CEO Eng. Amr Mahfouz, USAID Egypt's Director Ms. Leslie Reed, ITIDA's VP Dr. Hossam Osman, Chief of Party of the EGA Mr. Hermann Thiel, and the Mr. P

article : Startups
Kenya AI startup receives pre-seed round investment from EchoVC

EchoVC proudly announces a pre-seed investment into KOSA.ai - an AI-driven startup running an automated responsible platform that supports enterprises in building and deploying AI systems. The raise also drew participation from APX, Dale Mathias, TheContinent Venture Partners, Fine Day Ventures, and Arch Capital. Artificial Intelligence (AI) technology affects both consumers and enterprises in a manner never imagined before by humanity - creating one of the greatest economic opportun

article : Startups
Legal advice for entrepreneurs: the ABCs of Due Diligence

Investor funding can be the lifeblood of a start-up. However, most investors will want to conduct a due diligence investigation on a business before investing any funds or taking up an equity share. What does this mean for your business if you are looking for funding? These tips should assist& What is a due diligence investigation? A due diligence investigation examines the structure and operations of the target company, its assets and liabilities, as well as any po

article : Crowdfunding
Biometrics: An evolving industry with unique risks

As evidenced in the world of business, government and everyday life, the technology of biometrics is widespread and expanding. For example, people can unlock their smartphones with their faces. Banks can recognize customers by the sound of their voice, and police can identify suspects with automated fingerprinting. These are just some of the common applications for biometrics. But while the technology offers many benefits from convenience and faster service, to better safety and security , it is

article : Mixed
IBM introduces new operating system for IBM Z systems

IBM has announced the next generation of its operating system for its IBM Z systems, which are a suite of mainframe servers. IBM z/OS V2.5 is designed to accelerate the adoption of hybrid cloud and AI as well as drive modernization initiatives. A recent study conducted by the IBM Institute for Business Value revealed that 71% of executives claim mainframe-based applications are still central to business strategy. Further, the study predicted that within three years the percentage of businesses u

article : Mixed
ITIDA disburses $4.5M in export incentives toward Egypt ICT companies

On July 26, the Information Technology Industry Development Agency announced the disbursement of the 2019 Export-IT cash rebate on ICT exports supplied by local ICT companies. The total amount for the rebate's 11th round is $4.5M (70m EGP) - paid to 131 companies of 137 that have made applied this year. Amr Mahfouz, ITIDA's CEO described the Export IT program as part of ITIDA's strategy of boosting Egypt's IT exports, increase competitiveness, and enable expansion and access t

article : Startups
SA women ICT enterpreneurs to be empowered in CSG partnership with Cape Innovation and Technology Initiative

CSG has announced a partnership with Cape Innovation Technology Initiative (CiTi) - one of the country's oldest tech incubators - to expand the organization's nationwide Women in Business program that is part of the commitment by CSG South Africa to defy social norms by offering tech skills alongside the Broad-Based Black Economic Empowerment. This women-in-business program supports female entrepreneurs in their adoption and implementation of digital platforms that upskill their tech

article : Startups
MVX partners with PayHippo to support SMEs with trade finance

We earlier covered the pivot by Nigeria's MVX Transit, a digital freight and haulage company to MVX. Often regarded as Africa's " Uber for Ships ," the company has set its bet on international trade. As a maritime tech startup, MVX now has a presence in South Africa, Kenya, Ghana, Rwanda, and Tanzania. The platform is also introducing embedded trade finance services on its platform. MVX has now partnered with PayHippo to expand trade finance opportunities for SMEs across Nigeria. Thi

article : Startups
Egypt gaming marketplace GamesBandy receives $40K investment

GamesBandy has received $40,000 in grant funding from MENA Saudi startup accelerator Taqadam . This is only four months after earlier receiving an undisclosed seed funding from Tamkeen and Flat6Labs. GamesBandy will channel the grant towards revamping its platform to support more games, expand the user base, and geographical reach. The deal includes 6 months of mentorship, training, and zero-equity funding from Taqadam. GamesBandy was founded by Abdulrahman Aboshamah in 2020 and tout

article : Startups
Global? ?fintech? ?Xero? ?releases? ?VAT? ?tools? ?for? ?SA? ?SMMEs? ?

Leading accounting SaaS company Xero has announced the release of new VAT eFiling tools as part of Xeros existing suite of cloud offerings, making it SAs first end-to-end VAT solution. Xero was founded in 2006 in Wellington, New Zealand and expanded to SA in 2016. Colin Timmis , Xero SA Country Manager, explained to Ventureburn that SA SMME owners time comes at a premium and failure to pay attention to accounting issues can be the downfall for any business. Xero - makin

article : Startups
25 tech startups chosen for the 2nd edition of The Future is Female Mentorship Programme

25 female-founded tech startups have been chosen for the second edition of The Future is Female Mentorship program comprising of a PR Communications mentorship initiative exclusively dedicated to female tech founders across Africa. C. Moore Media , a New York-based PR firm fixated on the US, UK, and Africa markets received over 180 applications for its second edition from 26 African countries. As businesses reel from the global pandemic, CMM is looking to assist the least supported g

article : Startups
SD Times news digest: DataRobot to acquire Algorithmia, Synopsys announces Rapid Scan, Thundra announces Foresight CI Observability Tool

DataRobot announced that its acquiring the MLOps platform Algorithmia to deepen its capabilities to unlock value from AI through better, faster, frictionless solutions for every part of the modern enterprise. We understand that businesses cannot get the value of their ML models unless they have the ability to deliver those models quickly, reliably, and at scale, said Diego Oppenheimer, the CEO of Algorithmia. Its been clear to us for many years that DataRobot shares this philosophy, and were thr

article : Mixed