Successful Conclusion of the 5th Edition of the “Startups Without Borders” Summit in Cairo

Cairo, May 12, 2024: The fifth edition of the “Startups Without Borders” summit concluded in Cairo on May 10th and 11th, with the participation of 5500 investors and entrepreneurs from various sectors, along with the organization of 560 meetings between investors and entrepreneurs, marking a successful event amidst active participation from investors, innovators, entrepreneurs, experts, and enthusiasts from around the world.

The summit garnered significant attention, shedding light on a range of important topics related to the startup sector and how to create an investment-friendly climate for them to thrive and grow. It provided a real opportunity for entrepreneurs to network, exchange experiences, and gain the necessary knowledge to build successful globally scalable businesses.

During the summit’s closing ceremony, Valentina Primo, the founder of “Startups Without Borders,” announced the winners of the Mahmoud Abu Shawish Award. In the first place was “Oqoodi,” followed by “i Clinic” in second place and “Gaza Workspace” in third. The winners will have the opportunity to showcase their projects in Italy.

Additionally, Glint Consultancy announced the launch of its second fund during the summit, aiming to invest in Egyptian technology companies with the potential to penetrate regional and global markets. The startups targeted by the fund are those built in Egypt or with headquarters in Egypt and a clear ability to sell abroad. Investments will range between $250,000 and $500,000 in 8 to 10 companies over the next three to four years.

Youssef Helmy, Managing Partner at Glint Consultancy, praised the “Startups Without Borders” summit for its focus on entrepreneurs and its efforts to support and empower them to harness their potential to achieve their goals, aligning with Glint’s objectives and values.

The second day of the summit featured a panel discussion titled “Mastering Exit Strategies: Guiding Mergers, Acquisitions, IPOs, and Beyond,” with contributions from Hossam Taher, CEO of ORCAS, and Rafae Saleh, Co-founder of Cubit Ventures. Moderated by Margaret Magdy, Head of Partnerships at Exits, the session addressed the experience of exiting investments, emphasizing the importance of well-thought-out plans, understanding industry dynamics and competitors, and identifying valuable connections in the market. It also highlighted geographic expansion strategies to meet market needs and fill gaps, providing valuable insights for entrepreneurs and investors navigating mergers, acquisitions, IPOs, and other scenarios in the current market.

The summit also hosted a Shark Tank-style event, featuring a panel discussion titled “Beyond Shark Tank: What Really Matters After the Deal.” The session discussed key strategies to support startups in a fast-paced world, with participation from Abdullah Salam, CEO and Managing Director of Madinaty Egypt, moderated by Dina El Mofty, Founder of Injaz Egypt. Speakers emphasized the importance of keeping pace with global changes and providing fundamental support to entrepreneurs. They also highlighted essential traits for success among startup founders, including purpose, passion, perseverance, flexibility, and patience. Despite the challenges along the journey, speakers emphasized that they ultimately lead to success and goal achievement. They also exchanged views on the challenges facing startups, particularly in dealing with agreements and partnerships. Moreover, they mentioned that amidst economic challenges, support and sponsorship for startups have been provided as a means to positively impact the economy by creating various job opportunities.

On the sidelines of the fifth edition, several partnerships were announced, where the co-founder and CEO of Nomadic Minds organization announced the launch of the World Cup for Startups in the Mediterranean region on October 11th in Sicily in collaboration with “Startups Without Borders”. This event will feature 66 startups from 22 countries in the Mediterranean region, with the attendance of more than 2500 investors from around the world, including Reed Hastings, CEO of Netflix, and Ryan Roslansky, CEO of LinkedIn.

Additionally, “Entaleq,” a startup support organization, announced its collaboration with “Startups Without Borders” summit to launch a business incubator dedicated to immigrants and initiate a program to expand global startups in the Egyptian market. The immigrant business incubator aims to support startups to grow with their innovative ideas and integrate their companies into the national economy. This program will focus on preparing and growing startups while ensuring their integration into the formal economy, providing workshops for business growth, offering mentoring sessions and consultations to help them access investments, as well as providing legal and financial consultations, facilitating their connection to the entrepreneurial ecosystem in Egypt.

It is worth mentioning that the fifth edition of the “Startups Without Borders” summit comes under the theme “Beyond Borders, Building Global Horizons”, with the participation of 5000 investors, innovators, entrepreneurs, and stakeholders in the startup sector from around the world, to discuss the challenges and opportunities facing startups in various sectors.