The VentureX, in collaboration with Manus AI and Cursor, has concluded its AI-focused hackathon, distributing EGP 150,000 in funding to promising Egyptian startups. The event aimed to identify and support early-stage companies developing innovative artificial intelligence solutions.
Quick Facts
- Total Funding: EGP 150,000 awarded.
- Total Applicants: Over 80 startups applied.
- Finalists: 16 teams were selected to pitch.
From 80 Applicants to 16 Finalists
The hackathon attracted significant interest from Egypt’s tech community, with more than 80 AI-focused startups applying to participate. From this competitive pool, 16 companies were shortlisted to present their solutions during a Demo Day in front of a panel of industry experts.
The event served as a platform for emerging founders to gain visibility, receive feedback, and compete for crucial early-stage capital.
EGP 150,000 Injected into Winning AI Ventures
Following the final pitches, five winning startups were awarded a total of EGP 100,000. An additional investment of EGP 50,000 was granted to one standout company that particularly impressed the judges, bringing the total funding pool to EGP 150,000.
The initiative highlights a growing commitment to fostering AI development within the local ecosystem, providing direct financial support to help founders turn their ideas into viable businesses.
New Training Program Launched with Startup Sync
Building on its support for the local ecosystem, The VentureX also announced the launch of an Investment Readiness Training program. The new initiative, organized in partnership with Startup Sync, is designed to prepare participating startups for investment rounds and guide them through critical growth stages.
This program underscores a commitment to providing post-event support and ensuring founders are equipped for the challenges of fundraising and scaling.
About The VentureX
The VentureX establishes and manages accelerators for startups and SMEs in Egypt. The organization also creates dedicated funds to back high-potential, impact-driven ideas through its various theme-based programs and projects.
Source: Facebook
