Techstars Prepares to Launch Two Accelerators in the Second Half of 2024
Techstars, a leading investment company in the startup sector, participated in the “Startups Without Borders” summit held in Cairo. The summit aims to connect entrepreneurs and investors from around the world to facilitate idea exchange and create new opportunities for collaboration.
Ahmed Eid, the Investment Director at Techstars, stated to entArabi: “We are pleased to participate in this exceptional summit, which has enabled us to meet numerous promising entrepreneurs from various parts of the region.” Eid added that Techstars is “always looking for new opportunities to invest in promising startups, and we believe that the ‘Startups Without Borders’ summit is an ideal platform to find these opportunities.”
Techstars has a strong track record in investing in successful startups, with over 4,200 investments worldwide and a presence in more than 55 cities. The company also has a program for the Middle East and North Africa (MENA) region, where it has invested in over 80 companies so far.
In 2023, Techstars invested in 12 companies in the MENA region and plans to invest in between 20 and 30 more companies in the second half of 2024. Egypt is one of the key markets targeted by Techstars, representing between 20 to 30% of the company’s total investments in the region.
Techstars focuses on investing in technology companies, including artificial intelligence, but is also open to investing in other sectors. The company has a team of experienced experts and investors in various sectors, allowing it to comprehensively evaluate investment opportunities.
During its participation in the “Startups Without Borders” summit, Techstars held meetings with more than 20 entrepreneurs. The company aims to launch two business accelerators in Riyadh in the second half of 2024. The accelerator named Riyadh Techstars Accelerator in collaboration with the Saudi Ministry of Communications, SNB, and RAED Ventures. These accelerators aim to support early-stage entrepreneurs by providing guidance and financial support.
Techstars is a significant partner for entrepreneurs in the MENA region and plays a vital role in supporting the growth and development of startups in the region.
